Guarantee to Landlord in relation to Tenancy / Lease

The document titled 'Guarantee to Landlord in relation to Tenancy / Lease' is a legal document that serves as a guarantee for the proper and punctual observance and performance of all obligations, commitments, and undertakings by the tenant under a tenancy agreement. The document starts with the identification of the parties involved, including their names, addresses, and contact information. It is addressed to the contact person of the landlord.

 

The document begins by acknowledging the existence of the tenancy agreement and the relationship between the tenant and the guarantor. The guarantor, acting as the principal obligor and not merely as a surety, guarantees the landlord that the tenant will fulfill all its obligations under the agreement.

 

In the event that the tenant fails to perform or observe any of its obligations, commitments, or undertakings, the guarantor commits to paying the landlord an amount not exceeding a specified maximum upon demand. This payment is made under the presumption that the landlord is in compliance with their obligations under the agreement.

 

The guarantee specifies that any amounts payable under the guarantee should be paid in full without any deduction or withholding, unless required by law. If any deduction or withholding is made, the guarantor is obligated to pay an additional amount to ensure that the net amount received by the landlord equals the full amount that would have been received without the deduction or withholding.

 

The document clarifies that the landlord is not obliged to apply any received amount towards the discharge of amounts owed under the guarantee until all amounts owing have been received in full. The guarantee also states that it will expire upon the expiration of the tenancy under the agreement.

 

In the event that any provision of the guarantee becomes invalid, illegal, or unenforceable, the remaining provisions remain valid, legal, and enforceable. It is also mentioned that a person who is not a party to the guarantee has no right to enforce any of its terms.

 

The document concludes with a jurisdiction clause, indicating that it has been duly executed and delivered as a deed on the specified date.

How to use this document?

To use the 'Guarantee to Landlord in relation to Tenancy / Lease' document, follow these steps:

1. Identify the parties: Enter the names, addresses, and contact information of both parties involved in the tenancy agreement.

2. Understand the guarantee: Familiarize yourself with the guarantee's purpose, which is to ensure the proper and punctual observance and performance of the tenant's obligations.

3. Acknowledge the tenancy agreement: Confirm that there is an existing tenancy agreement between the landlord and the tenant.

4. Guarantee as principal obligor: Understand that the guarantor is acting as the principal obligor, assuming full responsibility for the tenant's obligations under the agreement.

5. Payment upon non-performance: Note that the guarantor commits to paying the landlord a specified amount if the tenant fails to fulfill their obligations.

6. Deductions and withholdings: Be aware that any amounts payable under the guarantee should be paid in full without any deductions or withholdings, unless required by law.

7. Application of received amounts: Understand that the landlord is not obligated to use any received amounts towards the discharge of owed amounts until all amounts have been received in full.

8. Expiration of the guarantee: Take note that the guarantee will expire upon the expiration of the tenancy under the agreement.

9. Invalid provisions: Understand that if any provision of the guarantee becomes invalid, illegal, or unenforceable, the remaining provisions remain valid and enforceable.

10. Non-enforceability by third parties: Remember that only the parties involved in the guarantee have the right to enforce its terms.

11. Jurisdiction clause: Consider the jurisdiction clause, which specifies the applicable jurisdiction for any disputes related to the guarantee.

12. Execution and delivery: Ensure that the guarantee is duly executed and delivered as a deed on the specified date.

Please note that this guidance provides a general overview and does not constitute legal advice. It is recommended to consult with a legal professional for specific guidance and to ensure compliance with applicable laws and regulations.