This office lease form is loosely worded guaranty where the guarantor absolutely guaranties to the landlord, its successors and assigns, the payment of all fixed rent and additional rent due under the Lease.
The New Hampshire Bare-bones Common Form of Good Guy Guaranty is a legally binding document that provides a guarantee for a commercial lease agreement in New Hampshire. It is important for both tenants and landlords to understand the specifics of this guaranty, as it offers protection and outlines the responsibilities of the guarantor. The main purpose of the New Hampshire Bare-bones Common Form of Good Guy Guaranty is to ensure that the guarantor will act as a backup for the tenant in case of lease default or any breach of the lease agreement terms. This guaranty offers a level of security to landlords, assuring them that they have recourse in situations where the tenant is unable to meet their obligations. Key elements of this guaranty include: 1. Good Guy Clause: The good guy clause is a crucial part of the guaranty that limits the guarantor's liability under certain conditions. It states that as long as the tenant surrenders the premises in good condition and without any outstanding debts, the guarantor will not be held responsible for any lease remaining after the surrender. 2. Limited Liability: The guarantor's obligation is limited solely to the tenant's obligations under the lease agreement. This means that the guarantor is not responsible for any other debts or obligations of the tenant unrelated to the lease. 3. Notice Requirements: The guarantor must be given timely notice by the landlord in case of any default or breach of lease agreement by the tenant. This notice allows the guarantor to rectify the situation or take necessary legal actions. 4. Landlord's Remedies: The guarantor's liability may be enforced by the landlord through legal means, such as seeking damages or specific performance. It is essential for both landlords and guarantors to understand the consequences of breaching the guaranty provisions. Different variations or types of the New Hampshire Bare-bones Common Form of Good Guy Guaranty may exist based on specific conditions or agreements between the parties involved. Some variations may include: 1. Personal Guaranty: In addition to the clauses mentioned above, a personal guaranty may include additional provisions that make the guarantor personally responsible for the tenant's obligations, even beyond the lease agreement. 2. Corporate Guaranty: If the tenant is a corporation or a business entity, a corporate guaranty may be used. This type of guaranty holds the corporation's officers or directors liable for fulfilling the lease obligations in case of default. It is important to consult with legal professionals when entering into any guaranty agreement, as the details and nuances may vary depending on the specific circumstances. Understanding the New Hampshire Bare-bones Common Form of Good Guy Guaranty is crucial for both tenants and landlords to protect their interests and ensure a fair and enforceable lease agreement.
