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Guarantor For A Tenancy Agreement
"I need a Guarantor For A Tenancy Agreement for my commercial property in Mumbai, where the guarantor is a parent company providing guarantee for its subsidiary's 5-year lease starting March 2025, with specific provisions for quarterly financial reporting and a guarantee cap of Rs. 50 lakhs."
1. Parties: Identifies all parties to the agreement: the Guarantor, the Landlord, and reference to the Tenant
2. Background: Explains the context of the guarantee, referring to the main tenancy agreement and the landlord's requirement for a guarantee
3. Definitions: Defines key terms used throughout the agreement, including 'Guaranteed Obligations', 'Property', 'Tenancy Agreement', etc.
4. Guarantee and Indemnity: Core section detailing the guarantor's promise to guarantee the tenant's obligations and indemnify the landlord
5. Scope of Guarantee: Specifies exactly what obligations are being guaranteed, including rent, damages, and other tenant obligations
6. Duration of Guarantee: Specifies how long the guarantee will last, including any provisions for continuation or termination
7. Guarantor's Obligations: Detailed list of specific obligations and responsibilities of the guarantor
8. Landlord's Rights: Outlines the landlord's rights against the guarantor, including enforcement mechanisms
9. Payment Provisions: Details of how and when payments must be made by the guarantor if called upon
10. Governing Law and Jurisdiction: Specifies that Indian law governs the agreement and establishes jurisdiction for disputes
1. Joint Tenants Provision: Required when the tenancy involves multiple tenants, specifying if the guarantee covers all or specific tenants
2. Guarantor Financial Statements: Optional section requiring periodic submission of financial statements, used for high-value properties or commercial tenancies
3. Limitation of Liability: Optional cap on guarantor's liability, if agreed between parties
4. Assignment and Transfer: Required if the agreement allows for assignment of the guarantee or transfer of the property
5. Notice Requirements: Detailed notice procedures, necessary for formal communications between parties
6. Guarantee Release Conditions: Optional section specifying conditions under which the guarantor can be released from obligations
1. Schedule 1 - Guaranteed Obligations: Detailed list of all obligations being guaranteed, including specific amounts and responsibilities
2. Schedule 2 - Property Details: Full description of the property covered by the tenancy agreement
3. Schedule 3 - Reference Tenancy Agreement: Copy or key terms of the main tenancy agreement being guaranteed
4. Schedule 4 - Guarantor's Statement of Assets: Optional schedule listing the guarantor's relevant assets and financial capacity
5. Appendix A - Notice Forms: Standard forms for serving notices under the agreement
6. Appendix B - Payment Schedule: If applicable, schedule of guaranteed payments and due dates
Authors
Real Estate
Residential Property
Commercial Property
Retail
Healthcare
Education
Hospitality
Professional Services
Industrial
Legal
Real Estate
Property Management
Facilities Management
Risk Management
Compliance
Operations
Administrative
Customer Relations
Housing
Property Manager
Real Estate Manager
Legal Counsel
Leasing Manager
Asset Manager
Facilities Manager
Company Secretary
Risk Manager
Compliance Officer
Real Estate Agent
Housing Officer
Tenant Relations Manager
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