Common use of Surety Clause in Contracts

Surety. In the event of the Lessee being a Company / Close Corporation, at the date of signature of this Offer to Lease then the Lessee warrants that its Directors / Shareholders / Members shall bind themselves as sureties and co- principal debtors in solidum with the Lessee for the due performance of the Lessee’s obligations, in terms of the Lessor’s standard Deed of Suretyship.

Surety. In the event of the Lessee being a Company / Close Corporation, Corporation at the date of signature of this Offer to Lease then the Lessee warrants that its Directors / Shareholders / Members shall bind themselves as sureties and co- co-principal debtors in solidum with the Lessee for the due performance of the Lessee’s obligations, in terms of the Lessor’s standard Deed of Suretyship.