In this guaranty, the guarantor is guaranteeing both payment and performance of all leases now or later entered into with lessee and all the obligations and liabilities due and to become due to lessor from lessee under any lease, note, or other obligation of lessee to lessor. Such a blanket guaranty would suggest a close business relationship between the lessee and guarantor like that of a parent and subsidiary corporation.
The Indiana Continuing Guaranty of Payment and Performance of all Obligations and Liabilities Due to Lessor from Lessee under Lease is a legal document that provides assurance to a lessor (property owner) that the lessee (tenant) will fulfill all financial and performance obligations outlined in a lease agreement. This agreement is enforceable under Indiana state law. Keywords: Indiana, Continuing Guaranty, Payment, Performance, Obligations, Liabilities, Lessor, Lessee, Lease. Types of Indiana Continuing Guaranty of Payment and Performance of all Obligations and Liabilities Due to Lessor from Lessee under Lease may include: 1. General Continuing Guaranty: This type of guaranty encompasses all financial and performance obligations of the lessee stated in the lease agreement. It ensures that the guarantor is responsible for any unpaid rent, damages, or other liabilities in case the lessee fails to meet their obligations. 2. Limited Continuing Guaranty: In certain cases, the guarantor may limit their liability to a specific amount. This type of guaranty allows the guarantor to specify a maximum liability, protecting them from potential excessive financial obligations if the lessee defaults on their lease obligations. 3. Partial Continuing Guaranty: Unlike a general guaranty, a partial guaranty covers only a portion of the lessee's obligations. For instance, the guarantor may agree to be responsible for a specified percentage of the unpaid rent or certain specific obligations. 4. Conditional Continuing Guaranty: This type of guaranty is contingent upon certain conditions being met. For example, the guarantor may only be liable if the lessor has first pursued all possible remedies against the lessee before turning to the guarantor for payment or performance. Indiana Continuing Guaranty of Payment and Performance of all Obligations and Liabilities Due to Lessor from Lessee under Lease provides a legal framework to protect lessors' rights and secure their financial interests in leasing agreements. It ensures that the lessee's obligations are met, encourages proper lease compliance, and offers recourse for the lessor in case of default or non-performance. The specific type of guaranty chosen will depend on the negotiation and agreement between the lessor, lessee, and the guarantor.
