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.
A North Dakota provision of guaranty stating that it is unaffected by any waiver or forbearance by the landlord is a crucial clause included in lease agreements or rental contracts in North Dakota. This provision aims to protect the rights of the guarantor and ensure that their obligations and liabilities are not nullified or diminished due to any leniency or forgiveness granted by the landlord towards the tenant. By including this provision, the guarantor's responsibilities remain intact and enforceable regardless of any actions taken by the landlord, such as waiving rent payments or extending the due date. This provision acts as a safeguard for guarantors and emphasizes the significance of their commitment in supporting the lease obligation. It reinforces the understanding that the guarantor's liability remains independent of any action taken by the landlord or any modification made to the original lease agreement. Even if the landlord grants the tenant forbearance or waives certain terms, the guarantor's obligation to ensure payment and performance remains unaltered. In North Dakota, there are no specific types or variations of this provision. However, it is vital to consider the specific requirements and enforceability standards set by North Dakota state laws when drafting or including this provision in a guaranty agreement. The provision should be carefully drafted to clearly communicate that the guarantor's liability cannot be affected or diminished by any actions, waivers, or forbearance extended by the landlord to the tenant. Some relevant keywords related to this topic include North Dakota guaranty provision, unaffected by waiver or forbearance, guarantor obligations, lease agreement protection, landlord leniency, tenant rent forgiveness, enforceability standards, lease obligation, safeguarding guarantor, independent liability, North Dakota state laws.
