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.
The Oklahoma Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord is a legal clause commonly found in rental agreements within the state of Oklahoma. This provision specifically addresses the relationship between a landlord, tenant, and a guarantor (often a third party who assumes responsibility for tenant obligations). Keywords: Oklahoma, Provision of Guaranty, Unaffected by Any Waiver, Unaffected by Forbearance, Landlord, Rental agreements, Tenant, Guarantor. This provision is an important inclusion in rental agreements as it seeks to safeguard the rights of the landlord and preserve the original terms of the agreement. It essentially states that if the landlord, at any point, waives or defers the enforcement of any contractual requirement or delays exercising any right, this shall not diminish the guarantor's obligations or rights under the Guaranty Agreement. By including this provision, landlords ensure that any leniency or flexibility granted to the tenant does not extend to the guarantor. This protects the landlord's ability to pursue the guarantor for payment if the tenant defaults or violates the lease agreement. Types of Oklahoma Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord: 1. Comprehensive Guaranty Provision: This provision encompasses all aspects of the guarantor's obligations and clearly states that any waiver or forbearance by the landlord does not alter the guarantor's responsibilities. 2. Limited Guaranty Provision: In some cases, landlords may specify certain conditions or obligations that are not affected by any waiver or forbearance. This provision outlines those particular clauses and clarifies that leniency granted on other aspects of the lease agreement does not release the guarantor from their duties related to those specific conditions. 3. Continuous Effect Provision: This variant of the Oklahoma Provision of Guaranty emphasizes that all terms and obligations set out in the Guaranty Agreement maintain their full effect regardless of any temporary relief granted by the landlord to the tenant. 4. Irrevocable Provision: This type of provision establishes that the guarantor's obligations are irrevocable and cannot be released or altered through any waiver or forbearance by the landlord. It ensures that even if the landlord temporarily refrains from enforcing certain terms, the guarantor remains bound to fulfill their responsibilities under the agreement. 5. Reciprocal Provision: In certain circumstances, landlords might want to ensure that any leniency or forbearance offered to the tenant is mirrored by an equivalent commitment from the guarantor. This provision highlights that if the landlord grants any relief, the guarantor must continue to fulfill their obligations without modification. Including the Oklahoma Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord in rental agreements is crucial for both landlords and guarantors as it offers legal protection and clarifies their respective responsibilities in case of any waivers or forbearance by the landlord.
