Common use of Guarantee Indemnity Clause in Contracts

Guarantee Indemnity. Unless otherwise agreed by the Landlord, the Tenant shall procure its directors or partners for the time being to execute a letter of guarantee and indemnity in form and substance as may be prescribed by the Landlord, guaranteeing jointly and severally the performance and observance by the Tenant’s covenants and other terms of this Letter of Offer and the Tenancy Agreement and to indemnify the Landlord against all losses and damages suffered and/ or incurred or to be suffered and/ or incurred by the Landlord arising out of any such breach, non-observance or non-performance by the Tenant.