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.
Maryland Continuing Guaranty of Payment and Performance of all Obligations and Liabilities Due to Lessor from Lessee under Lease is a legal document that outlines the terms and conditions of guaranteeing the lessee's payment and performance obligations to the lessor in a lease agreement. This guarantee serves as a form of protection for the lessor against potential defaults or non-payment by the lessee. Some relevant keywords associated with the Maryland Continuing Guaranty of Payment and Performance include: 1. Maryland's law: This refers to the specific laws and regulations that govern the state of Maryland, including those pertaining to lease agreements and guarantees. 2. Continuing guaranty: A continuing guaranty implies that the guarantor's responsibilities extend beyond a single transaction or occurrence. It covers ongoing obligations and liabilities for the entire lease duration. 3. Payment obligations: This refers to the lessee's responsibility to make timely and full payments to the lessor as outlined in the lease agreement. 4. Performance obligations: Performance obligations involve fulfilling various responsibilities and requirements stated in the lease agreement, such as maintaining the property, adhering to specific conditions, and complying with applicable laws. 5. Obligations and liabilities: These terms encompass a wide range of contractual responsibilities, financial obligations, and legal liabilities that the lessee is bound to in the lease agreement. Different types of Maryland Continuing Guaranty of Payment and Performance of all Obligations and Liabilities Due to Lessor from Lessee under Lease may include: 1. Absolute guaranty: An absolute guaranty leaves no room for exceptions or conditional obligations. The guarantor becomes fully responsible for the lessee's payment and performance obligations regardless of any circumstances. 2. Limited guaranty: In a limited guaranty, the guarantor's responsibilities may have specific limitations or exclusions. They may be liable for only certain types of obligations or up to a certain amount. 3. Corporate guaranty: This type of guaranty involves a corporation or business entity guaranteeing the lessee's payment and performance obligations on behalf of its officers, directors, or shareholders. 4. Personal guaranty: In a personal guaranty, an individual (guarantor) assumes responsibility for the lessee's payment and performance obligations using personal assets or credit. It is important to consult with legal professionals and thoroughly review the specific terms and conditions of the Maryland Continuing Guaranty of Payment and Performance to fully understand its implications and obligations.
