Bilateral Standard Loan Market Document

Guarantee for Commercial Loan

No. of Prokens Required:  2

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Description:

Guarantee for a commercial loan. This standalone Guarantee to be utilised with the Bilateral Standard Loan Document. Note the cross referencing reflects the corresponding version of the Bilateral Standard Loan Document, e.g. Borrower Friendly loan to be used with Borrower Friendly guarantee.

The Guarantor is entering into this Deed in connection with the Finance Documents.

The board of directors of the Guarantor is satisfied that entering into this Deed is for the purposes and to the benefit of the Guarantor and its business.

The Lender and the Guarantor intend this document to take effect as a deed (even though the Lender only executes it under hand).

The Guarantor irrevocably and unconditionally:
(a) guarantees to the Lender punctual performance by the Borrower of all the Borrower's obligations under the Finance Documents;
(b) undertakes with the Lender that whenever the Borrower does not pay any amount when due under or in connection with any Finance Document, the Guarantor shall immediately on demand pay that amount as if it was the principal obligor

Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > Banking, Finance and Capital Raising > Letter of Comfort / Guarantee and Indemnity

 
Keywords:

Standalone Guarantee

,  

Guarantee

,  

Loan Guarantee

,  

syndicated loan

,  

indemnity

,