The Guarantor Agreement is a critical legal instrument in Danish business and financial transactions, used when additional security is required for obligations or debts. This document is particularly relevant in situations involving commercial loans, property transactions, corporate financing, or other significant financial commitments where the creditor requires additional assurance beyond the principal debtor's promise to pay. The agreement must comply with Danish law, particularly the Danish Contracts Act (Aftaleloven) and financial regulations, and can be used in both commercial and consumer contexts, though different rules may apply depending on the guarantor's status. The document typically includes comprehensive details about the guaranteed obligations, the triggering events for the guarantee, and the extent of the guarantor's liability, all structured to be enforceable under Danish jurisdiction.
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Key Requirements PROMPT example:
Guarantor Agreement
I need a Danish law Guarantor Agreement for our corporate parent company to guarantee a €5 million credit facility for three subsidiary companies, with the guarantee becoming effective from March 1, 2025, and including provisions for multiple guarantors and cross-border payments.
1. Parties: Identifies and defines the Guarantor, Creditor, and Principal Debtor (the party whose obligations are being guaranteed)
2. Background: Explains the context of the guarantee, including reference to the principal debt or obligation being guaranteed
3. Definitions: Defines key terms used throughout the agreement, including 'Guaranteed Obligations', 'Security', and other relevant terms
4. Guarantee and Indemnity: Core section detailing the scope of the guarantee, including the guarantor's primary obligation to pay and indemnify
5. Nature of Guarantee: Specifies whether the guarantee is continuing, unconditional, irrevocable, and/or joint and several
6. Guarantor's Obligations: Details specific obligations, payment terms, and circumstances triggering the guarantee
7. Preservation of Rights: Establishes that the creditor's rights remain despite any changes to the principal debt or forbearance
8. Representations and Warranties: Guarantor's confirmations about their capacity and authority to enter into the guarantee
9. Payments: Specifies payment mechanisms, currency, and treatment of tax deductions
10. Costs and Expenses: Allocates responsibility for costs related to preparation, enforcement, and preservation of the guarantee
11. Duration and Release: Specifies when and how the guarantee terminates or can be released
12. Notices: Sets out how formal communications between parties should be made
13. Governing Law and Jurisdiction: Confirms Danish law as governing law and specifies jurisdiction for disputes
1. Security: Include when the guarantee is supported by specific security arrangements such as charges over assets
2. Multiple Guarantors: Include when there is more than one guarantor, specifying joint and several liability
3. Subordination: Include when the guarantor's rights need to be subordinated to other creditors
4. Financial Covenants: Include when the guarantor must maintain specific financial metrics or conditions
5. Information Undertakings: Include when the guarantor must provide regular financial or other information
6. Power of Attorney: Include when the creditor requires power to execute documents on guarantor's behalf
7. Assignment and Transfer: Include when parties need specific rights to transfer their rights/obligations
8. Currency Indemnity: Include for cross-border transactions involving multiple currencies
1. Form of Demand: Template for making formal demands under the guarantee
2. Guaranteed Obligations: Detailed description of the obligations being guaranteed, including specific contracts or facilities
3. Security Documents: List and/or copies of related security documents
4. Guarantor Information: Detailed information about the guarantor, including corporate information or personal details as applicable
5. Principal Debtor Information: Details of the underlying debt or obligations being guaranteed
6. Conditions Precedent: List of documents and conditions required before the guarantee becomes effective
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Relevant legal definitions
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Relevant Industries
Banking
Financial Services
Real Estate
Construction
Manufacturing
Retail
Professional Services
Technology
Energy
Infrastructure
Healthcare
Education
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Commercial
Credit Control
Corporate Secretariat
Business Development
Operations
Relevant Roles
Legal Counsel
Financial Director
Credit Manager
Risk Manager
Commercial Director
Compliance Officer
Contract Manager
Treasury Manager
Chief Financial Officer
Business Development Manager
Corporate Finance Manager
General Counsel
Senior Legal Advisor
Banking Relationship Manager
Security Trustee
Corporate Secretary
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