Personal Guaranty. If the tenant’s business is not credible then the landlord should consider having the tenant sign a Personal Guaranty which binds the owner of the Company to the lease. So if the tenant defaults the individual’s assets would be liable, not just the business. Step 9 – Determine the Security Deposit Once the tenant has been approved by the landlord the Security Deposit should be made known to the tenant. In residential real estate, there are State Laws that limit how much a landlord may ask from the tenant. In commercial real estate, there are no limits to how much the landlord would like to charge the tenant. The landlord will commonly ask between 2-3 months rent in case the tenant stops paying the monthly rent or to safeguard against any damage that the tenant may cause during their time on the property. Step 10 – Write the Commercial Lease Agreement Use an attorney or draft the lease yourself. Make sure to gather all the information about the property and the tenant and enter into the agreement. Once completed, the document should be signed with the tenant and landlord in the presence of a notary public. This way the signatures are proven and the agreement is much more likely to hold up in court if its legality is ever questioned. Step 11 – Taking Occupancy After the security deposit has cleared and the lease has been signed the tenant should take occupancy. This means that the tenant can begin using the space as directed for use in the lease. Both parties will be held accountable for their specified duties until the end of the lease term. Estoppel Certificate – May be requested by the landlord after lease signing to certify a lease exists between the tenant and landlord. Required Clauses American’s with Disability Act (42 U.S. Code § 12183) – Also known as the ‘ADA’, requires that any commercial tenants which offer “public accommodation” (such as a restaurant, retail store, etc.) or have at least fifteen (15) employees adhere to all handicap access rules. This rule is only grandfathered to properties that have not been built or had renovations since 1992. Per 42 U.S. Code § 12183 if the Lessee is using the Premises as a public accommodation (e.g. restaurants, shopping centers, office buildings) or there are more than 15 employees the Premises must provide accommodations and access to persons with disabilities that is equal or similar to that available to the general public. Owners, operators, lessors, and lessees of commercial properties are all responsi...
Personal Guaranty. Unless User has obtained a written waiver signed by Autobooks, User’s owners (shareholders, members, partners, or independent contractors, as the case may be, or in the case of ten or more such owners, User’s President, CEO, or other highest ranking officer) (collectively “Guarantors”) jointly, severally, and unconditionally guaranty to Autobooks the full and prompt payment of all amounts due to Autobooks from User, whether arising under this Exhibit E or otherwise (“Guaranteed Amount”), including but not limited to, all: processing fees; chargebacks; Card Brand fees, fines, penalties, or assessments; any governmental fees; fines; penalties; or assessments; or any amounts due to third parties as the result of a Security Breach. Autobooks shall have immediate recourse against the Guarantors for the full and immediate payment of any Guaranteed Amount, or any portion thereof, which has not been paid by Autobooks to User. This is a guaranty of payment and not of collection, and Autobooks may seek recourse or receive payment from Guarantors prior to: taking steps to collect Guaranteed Amounts from User; taking steps to enforce, accept, or perfect Autobooks’s interest in any collateral (including but not limited to amounts in a reserve account); or in any other respect exercise any diligence in collecting or attempting to collect the amount by any means. Guarantor’s liability shall be absolute and unconditional, and shall not be discharged for any reason other than the final and full payment to Autobooks of all Guaranteed Amounts. Guarantor’s jointly and severally agree to pay all of Autobooks’s costs incurred in enforcement of or collection under this guaranty, including without limitation reasonable attorney’s fees and expenses. This guaranty is freely and voluntarily given, and Guarantors recognize that Autobooks would not enter into this Exhibit E without such guaranty. Guarantors understand and agree that this guaranty shall be subject to the exclusive choice of law and venue requirements as those set forth in the Agreement. Guarantors waive, to the fullest extent possible under law, the defense of forum non conviens. Guarantors agree that notice may be provided to each Guarantor by personal delivery or sending such by nationally recognized overnight carrier, registered or certified mail, postage prepaid, to each Guarantor’s address, which may be modified by Guarantor by sending written notice to Autobooks. If any portion of this guaranty is determined to b...
Personal Guaranty. For valuable consideration, the receipt of which is hereby acknowledge, including but not limited to the extension of credit by Xxxxxx Tri Steel (“Xxxxxx”) to (“Customer”), the undersigned individual (“Guarantor”) hereby absolutely, unconditionally and irrevocably guarantees the full and punctual payment of all obligations of Customer to Xxxxxx, its successors and assigns, under the Customer Credit Application and Agreement (a copy of which has been provided to Guarantor), now existing or hereafter arising, whether for account purchases, service charges, sales or other applicable taxes, costs of collection or otherwise. Xxxxxxxxx agrees to indemnify and hold Xxxxxx harmless for any and all costs and expenses (including reasonable attorney’s fees and expenses) incurred by Xxxxxx in enforcing any rights under this Personal Guaranty. Guarantor guarantees that the obligations of the Customer under the Customer Credit Application and Agreement will be paid strictly in accordance with the terms thereof. This Personal Guaranty shall in all respects be a continuing, absolute, unconditional and irrevocable guaranty of payment, and shall remain in full force and effect until Guarantor delivers to Xxxxxx written notice revoking it as to indebtedness incurred subsequent to such delivery. Such delivery shall not affect any of Guarantor’s obligations hereunder with respect to Customer’s indebtedness incurred prior to the date such notice is delivered to Xxxxxx. Diligence, demand, protest or notice of any kind is hereby waived by Guarantor. This Personal Guaranty constitutes a guaranty of payment to Xxxxxx when due and not of collection, and Guarantor specifically agrees that it shall not be necessary or required that Xxxxxx exercise any right, assert any claim or demand or enforce any other remedy whatsoever against the Customer before or as a condition precedent to the obligations of the Guarantor hereunder. This is intended to be a personal guaranty and not a corporate guaranty, and will personally bind Guarantor. The liability of Guarantor under this Personal Guaranty shall be absolute, unconditional and irrevocable irrespective of (I) any change in term of or obligation of the Customer, or any other extension, compromise or renewal of any obligation of the Customer under the Customer Credit Application and Agreement, (ii) any amendment to, rescission, waiver or other modification of, or any consent to depart from, any of the terms of the Customer Credit Application ...
Personal Guaranty. The undersigned (each a “Guarantor”), jointly and severally (if more than one), absolutely and unconditionally guarantee the prompt payment to Lender, including its successors and assignees, of any and all Obligations incurred by the Borrower pursuant to the Agreement (this “Personal Guaranty”). Each Guarantor further agrees to repay the Obligations on demand, without requiring Lender first to enforce payment against Borrower. This is a guarantee of payment and not of collection. This is an absolute, unconditional, primary, and continuing obligation and will remain in full force and effect until the first to occur of the following: (a) all of the Obligations have been indefeasibly paid in full, and Lxxxxx has terminated this Personal Guaranty, or (b) 30 days after the date on which written notice of revocation is actually received and accepted by Lender. No revocation will affect: (i) the then existing liabilities of the revoking Guarantor under this Personal Guaranty; (ii) Obligations created, contracted, assumed, acquired or incurred prior to the effective date of such revocation; (iii) Obligations created, contracted, assumed, acquired or incurred after the effective date of such revocation pursuant to any agreement entered into or commitment obtained prior to the effective date of such revocation; or (iv) any Obligations then or thereafter arising under the agreements or instruments then in effect and then evidencing the Obligations. Each Guarantor represents and warrants that it is a legal resident of the United States of America. Each Guarantor waives all notices to which the Guarantor might otherwise be entitled by law, and also waives all defenses, legal equitable, otherwise available to the Guarantor. This Personal Guaranty shall be construed in accordance with the laws of the State of New York, and shall inure to the benefit of Lender, its successors and assigns. To the extent not prohibited by applicable law, each of the undersigned Guarantors waives its right to a trial by jury of any claim or cause of action based upon, arising out of or related to this guaranty, the Agreement and all other documentation evidencing the Obligations, in any legal action or proceeding. Subject to Section 32 above, any such claim or cause of action shall be tried by court sitting without a jury. Please initial this document here
Personal Guaranty. In consideration of your having extended credit on account to the referenced customer, _, and in order to induce you to extend future credit on account to said customer, the undersigned hereby personally guarantees the prompt payment when due of any and all indebtedness now existing or hereafter incurred of said customer to , (hereinafter called “Vendor”) without limit, and further agrees that this is an absolute, unconditional and continuing guaranty of payment of the debts, liabilities, and obligations of said customer guaranteed hereby, and this Guaranty shall continue in full force and effect unless written notice of revocation is received by Vendor by registered mail. Such notice of revocation shall be ineffective as to any then existing indebtedness of customer to Vendor, or its subsidiaries, or as to any transaction or commitment previously undertaken by Vendor, or its subsidiaries, in reliance upon this Guaranty. The undersigned hereby further individually guarantees payment of all accrued interest, and reasonable attorneys’ fees, collection costs, and expenses incurred by Vendor, or its subsidiaries, in the enforcement of this Guaranty and securing payment of the underlying obligations owed by customer. Guarantor’s liability under this Guaranty shall not be affected by any sales, extensions, renewals, compromises, settlements, releases, or other transactions involving the referenced customer or its indebtedness, or any collateral securing indebtedness, and the undersigned agrees that Vendor, or its subsidiaries, need not resort for payment of the indebtedness to the customer or any other person or collateral, before enforcing its rights under this Guaranty. This Guaranty shall not be abrogated by any change in the form or status of the customer, whether caused by death, by the admission of any new owners, officers, shareholders or directors, or their withdrawal or by any change in the business of customer from any cause. This Guaranty shall be binding upon each person signing this Guaranty, regardless of any failure of other persons to sign this Guaranty, and shall be binding upon the heirs and legal representatives, successors and assigns of such undersigned person. This Guaranty is governed by the laws of the Governing State. The undersigned guarantor consents to jurisdiction and venue of the Vendor’s choice with respect to any suit initiated by Vendor to enforce this Guaranty Agreement and/or to recover unpaid balances due under said Guaranty A...
Personal Guaranty. As a necessary inducement submitted in consideration of Lessor’s decision to enter into the Lease (specifically referenced in Section C of this document, supra, and
Personal Guaranty. The individual signing this Lease Agreement for the Tenant, as an inducement to Landlord to enter into this lease, agrees to unconditionally guarantee the prompt payment and performance of the Tenant under this Lease Agreement and to be liable for any amounts due to the Landlord from the Tenant. Time of the essence. Time is of the essence of this Lease, and of each and every covenant, term, condition, and provision hereof. ACKNOWLEDGMENT OF LANDLORD
Personal Guaranty. 7. Security Agreement (if applicable)
Personal Guaranty. To induce Canmor to enter into this Agreement, the undersigned (if more than one, each of them joint and severally, or for the purpose of the Province of Quebec, solitarily) hereby personally, irrevocably and unconditionally guarantee full, prompt, and complete payment and performance of all obligations herein. This guarantee shall not be discharged or otherwise affected by any waiver, settlement, extension of credit, or variation of terms of this Agreement
Personal Guaranty. To induce you to enter into this Lease, the undersigned unconditionally guarantees to you the prompt payment when due of all of Lessee’s obligations to you under the Lease. You shall not be required to proceed against Lessee or the Equipment or to enforce any other remedy before proceeding against the undersigned. The undersigned agrees and/or consents: a) to pay all attorney fees and other expenses incurred by you by reason of the Lessee’s default; b) to waive notice of the acceptance hereof and of all other notices or demands of any kind of which the undersigned may otherwise be entitled; c) to any extensions of time or modifications in the amount of payment granted to Lessee; d) to the release and/or compromise of any obligations of lessee or any other obligors and guarantors without in any way releasing the undersigned from its obligations hereunder; e) to the credit check provisions of this lease; and f) to the jurisdiction and venue provisions of this lease. THIS IS A CONTINUING GUARANTY. Authorized Signature (Personal Guarantor #1 No Title Allowed) Date PRINT NAME Authorized Signature (Personal Guarantor #2 No Title Allowed) Date PRINT NAME Witness Signature Date PRINT NAME
