GUARANTY OF LEASE Clause Samples
The Guaranty of Lease clause establishes that a third party, known as the guarantor, agrees to be responsible for the tenant's obligations under the lease if the tenant fails to fulfill them. In practice, this means that if the tenant defaults on rent payments or breaches other lease terms, the landlord can seek payment or performance directly from the guarantor. This clause is commonly used when the tenant's financial stability is uncertain, providing the landlord with additional security and reducing the risk of loss due to tenant default.
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GUARANTY OF LEASE. THIS GUARANTY OF LEASE (“Guaranty”) is entered into as of July 5, 2019, by Ascend Wellness Holdings, LLC, an Illinois limited liability company (“Guarantor”), for the benefit of LCR 1014 EASTPORT PLAZA, LLC (“Lessor”), with reference to the following facts: Lessor and HealthCentral Illinois Holdings, LLC (“Lessee”), have entered or will enter into a lease of even date herewith (the “Lease”). Capitalized terms used but not otherwise defined herein shall have the same meaning ascribed to them in the Lease. By its covenants herein set forth, Guarantor has induced Lessor to enter into the Lease, which was made and entered into in consideration for Guarantor’s said covenants. Subject to the terms set forth herein, Guarantor unconditionally guarantees, without deduction by reason of setoff, defense or counterclaim, to Lessor and its successors and assigns the full and punctual payment (and not merely the collectability), performance and observance by Lessee, of all of the amounts, terms, covenants and conditions in the Lease contained on Lessee’s part to be paid, kept, performed and observed. Notwithstanding the foregoing, in no event shall the scope of Guarantor’s obligations exceed Lessee’s obligations under the Lease except to the extent Lessee is relieved of any such obligation by reason of any bankruptcy or other like filing or order. If Lessee shall at any time default in the punctual payment, performance and observance of any of the amounts, terms, covenants or conditions in the Lease contained on Lessee’s part to be paid, kept, performed and observed (after applicable notice and cure period), Guarantor will pay, keep, perform and observe same, as the case may be, in the place and stead of Lessee. Guarantor shall also pay to Lessor all reasonable and necessary incidental damages and expenses incurred by Lessor as a direct and proximate result of Lessee’s failure to perform, which expenses shall include reasonable attorneys’ fees and interest on all sums due and owing Lessor by reason of Lessee’s failure to pay same, at the maximum rate allowed by law. Any act of Lessor, or its successors or assigns, consisting of a waiver of any of the terms or conditions of the Lease, the giving of any consent to any matter or thing relating to the Lease, or the granting of any indulgence or extension of time to Lessee may be done without notice to Guarantor and without releasing Guarantor from any of its obligations hereunder. The obligations of Guarantor hereunder shal...
GUARANTY OF LEASE. This Lease is subject to and conditional upon Tenant’s delivery to Landlord concurrently with Tenant’s execution and delivery of this Lease, of a guaranty of lease (the “Guaranty”) fully executed and binding upon Coinstar, Inc., a Delaware corporation, as guarantor (“Guarantor”). Said Guaranty shall be in the form and upon the terms contained in Exhibit “E” attached hereto and made a part hereof. Tenant or Guarantor shall have the option to substitute for the Guaranty, an unconditional, irrevocable and renewable letter of credit (“Letter of Credit”) in favor of Landlord issued by a financial institution reasonably satisfactory to Landlord in the amount of the Liability Amount specified in the Guaranty, which amount may be reduced at the same times, and subject to the same terms and conditions, and to the same amounts as the Liability Amount may be reduced under the Guaranty (as if the Guaranty was still in effect). Tenant or Guarantor (as applicable) shall be responsible for all expenses, points and/or fees incurred by Tenant in obtaining the Letter of Credit. If the issuer of the Letter of Credit is declared to be insolvent by the Federal Deposit Insurance Corporation (or any comparable institution) or becomes a debtor in any case or proceeding under the Bankruptcy Code or any similar statute, or ceases to conduct business for any reason, Landlord may so notify Tenant, in which case Tenant shall, within five (5) business days after such notice from Landlord, provide Landlord with a new Letter of Credit which otherwise meets the requirements hereof. If (A) the term of the Letter of Credit will expire prior to the end of the initial Term of this Lease and the Letter of Credit is not extended, or a new Letter of Credit for an extended period of time is not substituted, in either case at least twenty-five (25) days prior to the expiration of the Letter of Credit, or (B) a monetary Event of Default occurs under this Lease or Tenant files a voluntary petition under Title 11 of the United States Code (i.e., the Bankruptcy Code), or otherwise becomes a debtor in any case or proceeding under the Bankruptcy Code, as now existing or as hereinafter amended or any similar law or statute, Landlord may draw upon the Letter of Credit and the proceeds received from such draw shall constitute Landlord’s property (and not Tenant’s property or the property of the bankruptcy estate of Tenant) and Landlord may then use, apply or retain all or any part of the proceeds for amoun...
GUARANTY OF LEASE. No Guaranty of Lease is made a part hereof.
GUARANTY OF LEASE. THIS GUARANTY OF LEASE made as of the 7th day of December, 2009 between Centrup Hospitality, LLC, a Michigan limited liability company, as Landlord, and AMC Marquette, Inc., a Michigan corporation, as Tenant. In consideration of and to induce the execution and delivery of that certain Lease December 7, 2009, (the “Lease”) between Landlord and Tenant, for a certain premises (the “Premises”) as more particularly described in the Lease, Guarantor hereby agrees as follows:
1. For the first five (5) Lease Years of the Lease only, Guarantor unconditionally guaranties to Landlord the full and punctual payment of all rents and other sums payable by Tenant under the Lease, and the full and punctual performance and observance of all terms, covenants and conditions on the part of Tenant to be performed and observed under the Lease (collectively the “Tenant Obligations”). Guarantor further agrees to indemnify and hold Landlord harmless for any loss, liability, damage or expense (including reasonable attorney’s fees) arising from the failure of Tenant to timely perform any of the Tenant Obligations and/or the enforcement of this Guaranty during such period. Upon Tenant’s default under the Lease and upon demand by Landlord, Guarantor shall pay or perform the Tenant Obligations so in default, as applicable, without offset, deduction or counterclaim.
2. This is a guaranty of payment and not of collection. Landlord shall not be required to pursue any remedies that it may have against Tenant or pursue any security deposit or other security or other parties as a condition to the enforcement of this Guaranty, it being intended that Guarantor’s obligations under this Guaranty shall be independent of, and in addition to, the Tenant Obligations. It is understood and agreed that Guarantor may be joined in any action against Tenant and that recovery may be had against Guarantor in such action, or in any independent action against Guarantor.
3. Guarantor waives notice of any breach or default by Tenant under the Lease, notice of acceptance of this Guaranty, and all suretyship defenses generally. The foregoing provisions shall apply without limitation to Landlord’s waiver of or failure to enforce any Tenant Obligations and/or Landlord’s granting extensions of time of performance to Tenant.
4. This Guaranty shall be absolute and continuing.
(a) Any modification, amendment or other alteration of the Lease;; any assignment of the Lease or any sublease; any release of any other party li...
GUARANTY OF LEASE. The Landlord has entered into this Lease in reliance upon the Unconditional Guaranty of Payment and Performance by the Guarantor in favor of Landlord dated of even date herewith (the "Guaranty"), pursuant to which the Guarantor has unconditionally guaranteed all of the obligations of the Tenant under this Lease, including without limitation the covenants of Tenant in Sections 4.4 and Section 4.6 hereof, and all of the additional covenants of Tenant in Article 20 hereof.
GUARANTY OF LEASE. THIS GUARANTY OF LEASE (“Guaranty”) is made by ([collectively and jointly and severally,] “Guarantor”), in favor of the SAN MATEO COUNTY HARBOR DISTRICT (“Landlord”) in connection with that certain Lease Agreement dated , 2021 (the “Lease”) pursuant to which Landlord leases to ▇▇▇▇▇ ▇▇▇▇▇▇ Restaurant and Harbor Bar, a California corporation (“Tenant”), certain “Premises” (as more particularly defined in the Lease) on property owned by the Landlord in the County of San Mateo. As a material inducement to and in consideration of Landlord entering into the Lease, Landlord having indicated that it would not enter into the Lease without the execution of this Guaranty, Guarantor does hereby agree with Landlord as follows:
GUARANTY OF LEASE. In order to induce Landlord to execute this Lease, Tenant has agreed to deliver to Landlord a Restated Guaranty of Lease, in the form attached hereto as Exhibit E, from Will▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇be▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇ Pete▇ ▇. ▇▇▇▇▇▇▇.
GUARANTY OF LEASE. Letter of Credit Agreement and Development Agreement dated as of March 19, 1998 by the Guarantor in favor of MLD.
GUARANTY OF LEASE. THIS GUARANTY OF LEASE, dated as of , by and from , a having an address at (“Guarantor”), with respect to that certain Master Lease Agreement, dated as of (the “Lease”), between Ventas Realty, Limited Partnership, a Delaware limited partnership (“Lessor”), and Kindred Healthcare, Inc., a Delaware corporation, and Kindred Healthcare Operating, Inc., a Delaware corporation (collectively, “Tenant”), covering the Leased Properties (as defined in the Lease) identified therein, including, without limitation, that certain Leased Property more particularly described on Exhibit A attached hereto (the “Premises”), all or a portion of which is subleased by Tenant to Guarantor.
GUARANTY OF LEASE. 67 21.27 Guaranty of ARC-Related Leases...................................................67