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 Oregon provision of guaranty stating that it is unaffected by any waiver or forbearance by the landlord is an important clause in a lease agreement that protects the guarantor's obligations in case the landlord grants any waivers or forbearance to the tenant. This provision ensures that the guarantor's liability remains intact regardless of any leniency granted by the landlord. In Oregon, there are several types of provisions of guaranty stating that it is unaffected by any waiver or forbearance by the landlord, including: 1. Absolute Guaranty: This type of provision guarantees that the guarantor will be held fully liable for the tenant's obligations, irrespective of any waivers or forbearance granted by the landlord. It ensures that the guarantor's responsibility remains unaffected, and they must fulfill their obligations diligently. 2. Continuing Guaranty: This provision stipulates that the guarantor's obligation remains in effect throughout the entire duration of the lease term, including any extensions or renewals. It ensures that any waivers or forbearance by the landlord during the lease term will not release the guarantor from their responsibility. 3. Independent Guaranty: This type of provision emphasizes that the guarantor's obligation is independent of any action taken by the landlord or any changes to the lease agreement. It means that even if the landlord waives certain tenant obligations or agrees to forbearance, the guarantor remains liable for their obligations as stated in the lease. 4. Unconditional Guaranty: This provision guarantees that the guarantor's liability is unconditional, regardless of any changes in the landlord-tenant relationship. Even if the landlord extends tendencies to the tenant, such as rent reductions or deferrals, the guarantor's obligation remains unaffected. By including these specific provisions in the guaranty clause, both the landlord and the guarantor can establish a clear understanding of the guarantor's obligations and ensure that any waivers or forbearance granted by the landlord do not release the guarantor from their responsibilities.
