This office lease form is a detailed guaranty where the guarantor absolutely guaranties to the landlord, its successors and assigns, the payment of all fixed rent and additional rent due as well as all listed obligations within this form.
Arkansas Detailed Form of Good Guy Guaranty is a legal document that serves as an agreement between a landlord and a tenant in the state of Arkansas. This type of guaranty ensures that the tenant fulfills their obligations under the lease agreement, while providing some protection for the tenant in specific cases. The Arkansas Detailed Form of Good Guy Guaranty typically includes the following key provisions: 1. Guarantor Identification: This section states the full legal names and addresses of both the guarantor — the party providing the guaranty, and the tenant — the party entering into the lease agreement. 2. Lease Terms: It outlines the essential details of the lease, including the lease start and end dates, the rental amount, the payment schedule, and any additional provisions that will be in effect. 3. Guarantee Details: This section specifies the guarantor's commitment to guarantee payment of rent and other lease obligations in case of tenant default. It explains that the guarantor's liability is limited to a certain period known as the "Good Guy" period. 4. Good Guy Period: The "Good Guy" period refers to a predetermined time frame during which the guarantor is only liable for rent and other lease obligations up until the tenant physically vacates the premises and returns the keys. Once the tenant has surrendered the premises, the guarantor's liability under the guaranty terminates. 5. Liability Limits: The guarantor's obligations are generally limited to rent and additional lease amounts incurred by the tenant during the Good Guy period. Beyond this period, the guarantor is usually released from any further liability. 6. Indemnification: This provision outlines the tenant's obligation to indemnify the guarantor for any losses, damages, or expenses incurred by the guarantor due to the tenant's default. 7. Governing Law: This section specifies that the Arkansas law governs the interpretation and enforcement of the guaranty. It is important to note that there may be variations or different types of Arkansas Detailed Form of Good Guy Guaranty based on specific lease agreements or individual circumstances. It is always advisable to consult with an attorney experienced in Arkansas real estate law to ensure the appropriate form is used and the specific requirements of both parties are met.
