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.
West Virginia Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord: In West Virginia, the provision of a guaranty for a lease agreement holds significant importance for both landlords and tenants. One crucial provision that is often included in West Virginia guaranty agreements is the clause stating that the guaranty is unaffected by any waiver or forbearance granted by the landlord. This provision serves as a protective measure for the landlord, ensuring that their rights under the guaranty agreement remain intact even if they choose to grant temporary leniency or forbearance to the tenant. By including this clause, the landlord can maintain their legal rights and protections outlined in the original guaranty contract. The provision emphasizes that any waiver or forbearance granted by the landlord does not release the guarantor from their obligations. Even if the landlord decides to refrain from enforcing certain terms or temporarily delays payment collection on the lease, the guarantor is still liable for fulfilling their financial responsibilities as stated in the guaranty agreement. This clause acts as a safeguard for landlords facing uncertain situations or economic downturns. It ensures that even if they exhibit flexibility or compassion towards tenants struggling to meet their obligations, the guarantor remains accountable for the performance of the lease agreement. It avoids potential misunderstandings and disputes regarding the extent of a guarantor's liability. While variations of the West Virginia Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord may exist based on specific lease agreements, the main purpose remains consistent — to protect the landlord's rights and preserve the guarantor's obligations under the original guaranty contract. Some alternative names for this provision could include "Non-Impact Clause on Guarantor's Liability in case of Waiver or Forbearance by Landlord" or "Landlord's Rights Preserved Provision in West Virginia Guaranty Agreements." These names highlight the essence of the provision and its significance in maintaining the contractual obligations of both parties involved in the lease agreement. In conclusion, the inclusion of a West Virginia Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord is crucial for landlords seeking protection while providing temporary relief to tenants. It serves as a reminder that even if leniency is granted, the guarantor remains obligated to fulfill the terms of the guaranty agreement.
