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.
Oregon Bare-bones Common Form of Good Guy Guaranty is a legal document used in the state of Oregon to provide a guarantee for the payment or performance obligations of a tenant in a commercial lease agreement. This type of guaranty simplifies the language and provisions typically found in a standard guaranty, aiming to reduce complexity and minimize potential disputes between the parties involved. The Oregon Bare-bones Common Form of Good Guy Guaranty typically includes key clauses such as: 1. Identification: The guaranty clearly identifies the parties involved, including the guarantor(s), tenant, and landlord. 2. Guarantor's Obligations: It outlines the guarantor's undertaking of a "good guy guaranty" where they agree to satisfy all rent payments, additional expenses, and fulfill any obligations under the lease agreement. 3. Limited Liability: This form of guaranty usually limits the guarantor's liability to obligations that arise prior to early lease termination by the tenant, upon vacating the premises and returning the keys to the landlord. This provision aims to protect the guarantor from any potential liabilities after the tenant's early exit. 4. Notice Requirement: The guarantor is often required to provide timely written notice to the landlord about the tenant's intention to terminate the lease early. Such notices usually have specific requirements, such as a minimum number of days prior to the intended termination. 5. Guarantor's Representations: This section may include statements by the guarantor, confirming their legal capacity to guarantee the tenant's obligations under the lease, absence of bankruptcy or insolvency proceedings, and that the guarantor will comply with all terms and conditions outlined in the guaranty. While the Oregon Bare-bones Common Form of Good Guy Guaranty itself represents a simplified approach to the typical guaranty, there are no distinct variations or official subtypes of this specific guaranty. The purpose of this document is to streamline the lease termination process and offer protection to both the landlord and the guarantor, ensuring efficient and straightforward transactions. Keywords: Oregon, Bare-bones Common Form of Good Guy Guaranty, legal document, guarantee, tenant, commercial lease agreement, language, provisions, complexity, disputes, parties, obligations, rent payments, additional expenses, limited liability, early lease termination, vacating, notice requirement, written notice, representations, legal capacity, bankruptcy, insolvency, terms and conditions, streamlined, protection, transactions.
