Guarantor Indemnity Agreement for the United Kingdom
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Guarantor Indemnity Agreement
"Need a Guarantor Indemnity Agreement for a commercial property lease in London, where my company will act as guarantor for a subsidiary's lease obligations starting March 2025, with specific provisions for early termination rights."
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1. Parties: Identifies and defines the Guarantor, Principal Debtor, and Beneficiary
2. Background: Explains the context of the principal obligation and reason for guarantee
3. Definitions: Defines key terms used throughout the agreement
4. Guarantee and Indemnity: Core obligations of the guarantor including both guarantee and indemnity provisions
5. Scope of Guarantee: Defines extent and limitations of guaranteed obligations
6. Duration: Period of effectiveness and termination provisions
7. Guarantor's Obligations: Detailed responsibilities and payment obligations
8. Enforcement: Rights and remedies of the beneficiary
1. Security Provisions: Additional security arrangements - used when additional security is required beyond personal guarantee
2. Multiple Guarantors: Joint and several liability provisions - used when more than one guarantor is involved
3. Assignment: Rights to transfer the guarantee - used when transfer rights are needed
4. Costs and Expenses: Allocation of legal and enforcement costs - used when specific cost arrangements are needed
1. Schedule of Guaranteed Obligations: Detailed list of obligations covered by the guarantee
2. Form of Demand: Template for making demands under the guarantee
3. Asset Schedule: List of guarantor's assets (if asset-backed)
4. Principal Agreement: Copy or summary of the underlying agreement being guaranteed
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