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The Personal Guarantee Promissory Note is commonly used in Dutch business and lending transactions where additional security is required for a debt obligation. This document is particularly valuable when a lender requires personal commitment from individuals (often business owners or directors) to support a corporate borrowing. The document combines the straightforward nature of a promissory note with the additional security of a personal guarantee, making it an efficient dual-purpose instrument. Under Dutch law, it must comply with the requirements of the Burgerlijk Wetboek (Dutch Civil Code) regarding both debt instruments and guarantees. The document typically includes detailed payment terms, guarantee provisions, enforcement mechanisms, and any specific conditions required by the parties or circumstances. It's particularly useful in situations involving small to medium-sized businesses where corporate assets alone may not provide sufficient security for the lender.

1. Parties: Identification of the Lender (Promisee), Borrower (Principal Debtor), and Guarantor

2. Background: Context of the underlying debt obligation and reason for the guarantee

3. Definitions: Key terms used throughout the document including 'Guaranteed Obligations', 'Principal Debt', 'Event of Default'

4. Promise to Pay: Clear statement of the principal debt amount, interest rate, and payment terms

5. Guarantee Provisions: Scope of the guarantee, nature of the guarantor's obligations, and confirmation that it is unconditional and irrevocable

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of late payment

7. Representations and Warranties: Guarantor's declarations regarding their capacity and authority to provide the guarantee

8. Events of Default: Circumstances that trigger immediate payment obligation and enforcement of the guarantee

9. Enforcement: Rights and remedies of the lender upon default, including enforcement procedures

10. Notices: Method and addresses for formal communications between parties

11. Governing Law and Jurisdiction: Confirmation of Dutch law application and jurisdiction for disputes