Arlington Texas Guarantor Waiver Which Avoids Release of Guarantor by Reason of the Tenant Discharge Release or Bankruptcy

• Category: Landlord Tenant - Commercial Leases
• State: Multi-State
• City: Arlington
• Control #: US-OL4A024BB
• Format: Word; PDF

Description

This office lease guaranty states that the guarantor's obligations under this guaranty shall be unaffected by any discharge or release of the tenant, its successors or assigns, or any of their debts, in connection with any bankruptcy, reorganization, or other insolvency proceeding or assignment for the benefit of creditors.

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Interesting Questions

How can a guarantor protect themselves when agreeing to a waiver?

Guarantors should make sure they understand what they're signing up for and consider getting advice to avoid any nasty surprises down the line.

Is every lease in Arlington required to have a guarantor waiver?

Not necessarily! It depends on the lease agreement and the landlord's policies. Some landlords might insist, while others might not bother.

What should a tenant know before signing a lease with a guarantor waiver?

Tenants should understand that if they have a guarantor waiver, their guarantor will still be responsible for rent, even if the tenant runs into hard times.

Can a tenant avoid paying rent if their guarantor is released under bankruptcy?

Not if there's a guarantor waiver in place! This agreement keeps the guarantor on the hook for payments, protecting the landlord.

Why would a landlord use a guarantor waiver?

Landlords often use guarantor waivers to ensure that they have someone financially responsible for the lease, even if the tenant faces financial troubles like bankruptcy.

How does bankruptcy affect a guarantor in Arlington?

Normally, when a tenant files for bankruptcy, it can release the guarantor from their responsibilities. But with a guarantor waiver, the guarantor still has to uphold their end of the deal.

What is a guarantor waiver in Arlington, Texas?

A guarantor waiver is a legal agreement that lets a landlord hold a guarantor responsible for a tenant's lease, even if the tenant claims bankruptcy or is released from the lease.

More info

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