This office lease form is a guranty that absolutely, unconditionally and irrevocably guarantees the landlord the full and prompt performance and observance of all of the tenant's obligations under the lease, including, and without limitation, the full and prompt payment of all rent and additional rent payable by the tenant under the lease and tenant's indemnity obligations benefiting the landlord under the lease.
Nebraska Joint and Several Guaranty of Performance and Obligations is a legal concept that outlines the responsibilities and liabilities of multiple parties involved in a contract or agreement. In this type of guaranty, each party is individually and collectively liable for the performance and fulfillment of obligations stated in the agreement. The Nebraska Joint and Several Guaranty of Performance and Obligations holds significant importance in various business transactions, particularly in loan agreements, leases, and contracts involving multiple parties. It ensures that all parties involved are accountable for the successful completion of the contract terms, regardless of whether they are direct parties or secondary guarantors. This guaranty comes into play when the primary party fails to fulfill their obligations. In such cases, the other parties are required to step in and fulfill the obligations on behalf of the defaulter. This joint and several liability means that each party can be held individually responsible for the full performance or payment, regardless of proportional shares or contributions initially agreed upon. There are several types of Nebraska Joint and Several Guaranty of Performance and Obligations, each catering to specific circumstances: 1. Joint and Several Guaranty of Performance: This type of guaranty ensures that all parties involved in the agreement are jointly and individually responsible for meeting the obligations outlined in the contract. Each party becomes liable for the entirety of the obligations, irrespective of the proportional share initially assigned. 2. Joint and Several Guaranty of Payment: This type of guaranty focuses on financial obligations. All parties involved are equally responsible for making payments, and any party can be held responsible for the full payment amount if the primary party defaults. 3. Joint and Several indemnities: While not strictly a guaranty, joint and several indemnities operates similarly. It holds parties liable for compensating losses incurred by the other parties due to a breach of contract or agreement terms. 4. Joint and Several Liability agreements: This type of agreement is often created to explicitly outline the responsibilities and liabilities of each party involved. It serves as a contractual basis for the joint and several guaranties, ensuring clarity and reducing the potential for disputes. Comprehending the various types of Nebraska Joint and Several Guaranty of Performance and Obligations is crucial for businesses engaging in multi-party contracts or agreements. Effective utilization of these guarantees ensures that all parties are held accountable, helping to establish a secure and fair environment for business transactions in Nebraska.Nebraska Joint and Several Guaranty of Performance and Obligations
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Opponents of the principle of joint and several liability argue that its use is unfair to many defendants. Joint and several liability will lead to cases in which a party who has a very small share of the responsibility for a plaintiff's injury may unfairly shoulder the burden of paying all of the damages.
If attorneys are acting ?jointly and severally?, it means that they can act together, but can also act separately if they wish. This would effectively mean that any one of the attorneys will be able to make a decision by themselves.
Joint and several guarantee in British English (d???nt ?nd ?s?vr?l ??ær?n?ti? ) noun. law. a legal guarantee undertaken by multiple people in which any one guarantor can be held fully responsible for repaying the whole of the debt despite each guarantor only being partially responsible for that debt.
No action at law or equity may be brought or maintained attacking the validity or enforceability of or to rescind or declare void and uncollectible any written contract entered into pursuant to, in compliance with, or in reliance on, a statute of the State of Nebraska which has been or hereafter is held to be ...
Vehicles approaching or entering intersection at same time; right-of-way; entering a highway or roadway. (1) When two vehicles approach or enter an intersection from different roadways at approximately the same time, the driver of the vehicle on the left shall yield the right-of-way to the vehicle on the right.
In any other action involving more than one defendant, the liability of each defendant for economic damages shall be joint and several and the liability of each defendant for noneconomic damages shall be several only and shall not be joint.
Joint and several liability is a legal term for a responsibility shared by two or more parties to a lawsuit. A wronged party may sue any or all of them, as well as collect the total damages awarded by a court from any or all of them. In such cases, responsibility for the total amount awarded would be shared by all.
The term jointly and severally indicates that all parties are equally responsible for carrying out the full terms of an agreement. In a personal liability case, for example, each party named may be pursued for repayment of the entire amount due.
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(a) Subject to Section 2.1(d) below, the Guarantors, jointly and severally, unconditionally and irrevocably guarantee the full and prompt (i) payment in full ... Joint tort-feasors who are defendants in an action involving more than one defendant share joint and several liability to the claimant for economic damages.This outline is intended to provide a general overview of Nebraska construction law. As a state of approximately of 1.8 million residents, Nebraska's case ... 25-320. Permissive joinder of defendants. All persons may be joined in one action as defendants if there is asserted against them jointly, severally, or in the ... ... Guarantor in this Guaranty) and any Other Guarantor will be joint and several. ... performance of such obligations and then only to the extent of such performance ... complete their performance bond obligations.132 d. Surety v. Third-Party Claimants. “In the ordinary case, a court is not confronted with a priority dispute. Applicant certifies that the purchase of products by Applicant from Nebraska Corn Processing, LLC is exempt from sales and use taxes. The obligations of Guarantor (and each party named as a Guarantor in this Guaranty) and any Other Guarantor will be joint and several. Lender, in its sole ... Dec 1, 2020 — We have reviewed the summary descriptions of the Bonds, the Indenture, the. Loan Agreement, the Deed of Trust and the Guaranty Agreement ( ... Nov 26, 2019 — I enforce many unconditional and unlimited guaranty documents signed by the owners or officers of entity commercial borrowers and tenants.