Vacating Guaranty of Office Lease | Practical Law

Vacating Guaranty of Office Lease | Practical Law

A limited guaranty agreement for an office lease where the guarantor unconditionally guarantees the performance of the tenant's monetary and non-monetary obligations under the lease agreement until the date the tenant (or other occupants) vacates the premises. This type of limited guaranty is also known as a good guy guaranty or a vacating guaranty. While guaranties are generally governed by state law, this jurisdictionally neutral template is useful and relevant in every state. This Standard Document has integrated notes with important explanations and drafting tips for both landlords and tenants.

Vacating Guaranty of Office Lease

Practical Law Standard Document 3-503-4381 (Approx. 13 pages)

Vacating Guaranty of Office Lease

by Practical Law Real Estate
MaintainedUSA (National/Federal)
A limited guaranty agreement for an office lease where the guarantor unconditionally guarantees the performance of the tenant's monetary and non-monetary obligations under the lease agreement until the date the tenant (or other occupants) vacates the premises. This type of limited guaranty is also known as a good guy guaranty or a vacating guaranty. While guaranties are generally governed by state law, this jurisdictionally neutral template is useful and relevant in every state. This Standard Document has integrated notes with important explanations and drafting tips for both landlords and tenants.