This office lease provision states that the guarantor's liability is not affected or impaired by any delay by or failure of the landlord in enforcing any of its rights or remedies under the lease or at law, or by any deferral, waiver, or release of the tenant's obligations under the lease or any forbearance by the landlord in exercising any of its rights and remedies or by any other action, inaction, or omission by the landlord. This guaranty is independent of any security or remedies which the landlord has under the law.
Maine Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord In commercial lease agreements, it is customary for landlords to request a provision of guaranty from the tenant's guarantor as an additional layer of security. One specific provision that is often included in Maine lease agreements is the "Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord." This clause explicitly specifies that the guarantor's obligations remain intact and unaffected even if the landlord waives or forbears certain lease terms or provisions. The purpose of this provision is to safeguard the landlord's right to enforce the guarantor's obligations, irrespective of any leniency or accommodations provided to the tenant. It ensures that the guarantor remains fully responsible for the tenant's financial obligations outlined in the lease agreement, regardless of any waivers or forbearance granted by the landlord. By including the "Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord" in a Maine lease agreement, landlords can protect themselves from potential misunderstandings or disputes that may arise if they offer leniency to the tenant but inadvertently release the guarantor from their obligations. This provision serves as a clear statement that any leniency granted to the tenant does not extend to the guarantor, preserving the landlord's rights and financial security. While the basic concept of this provision remains the same, it is important to note that its exact wording and structure may vary in different Maine commercial lease agreements. However, regardless of the specific language used, the purpose remains consistent — to ensure that the guarantor's obligations are not affected by any waivers or forbearance by the landlord. In conclusion, the "Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord" is a crucial element in Maine commercial lease agreements that safeguards the landlord's rights and guarantees the guarantor's continuing responsibility. It reinforces the landlord's ability to hold the guarantor liable for the tenant's obligations and adds an extra layer of security to the lease agreement.
