Guarantee to Landlord in relation to Tenancy / Lease

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Description:

In relation to a lease / tenancy /rental, a guarantee is given by Tenant's parent / employer to the Landlord for the Tenant's obligations. This is drafted in neutral form.

We refer to the above Tenancy Agreement between the Landlord and the Tenant. In consideration of you entering into the Agreement, we as the guarantor of the Tenant, hereby guarantee (as principal obligor and not merely as a surety) to you the proper and punctual observance and performance by the Tenant of all its obligations, commitments and undertakings under or pursuant to the Agreement).

If and each time that the Tenant fails for any reason whatsoever to perform or observe any of the obligations, commitments or undertakings referred to in clause 1, we shall forthwith upon demand unconditionally we commit ourselves hereby irrevocably to pay you an amount not exceeding amount under the presumption that you are in compliance with your obligations under the respective Agreement placed with you by us.

Any amounts payable under this guarantee shall be paid in full without any deduction or withholding whatsoever (whether in respect of set-off, counterclaim, duties, charges, taxes or otherwise) unless such deduction or withholding is required by law, in which event we shall pay to you an additional amount so that the net amount received by you will equal the full amount which you would have received had no such deduction or withholding been made.

Document Type:

Assignment / mortgage / legal charge / security interest

Category:

Personal > Property > Tenancy, Lease & Rental Agreement

 
Keywords:

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rental

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residential

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domestic

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Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.

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