This office lease provision states that the guarantor's liability is not affected or impaired by any delay by or failure of the landlord in enforcing any of its rights or remedies under the lease or at law, or by any deferral, waiver, or release of the tenant's obligations under the lease or any forbearance by the landlord in exercising any of its rights and remedies or by any other action, inaction, or omission by the landlord. This guaranty is independent of any security or remedies which the landlord has under the law.
The Colorado Provision of Guaranty Stating that it is Unaffected by Any Waiver or Forbearance by Landlord is an essential legal provision used in lease agreements. It protects the interests of landlords and holds the guarantor accountable for the payment and performance obligations stated in the lease, even in cases where the landlord may have previously waived certain rights or granted forbearance. In Colorado, there are several types of provisions that fall under this category, ensuring that the guarantor remains liable despite any leniency or concessions made by the landlord. These provisions may vary in their language and specific clauses, but they all serve the common purpose of upholding the guarantor's responsibility. Some common types include: 1. General Colorado Provision of Guaranty: This provision outlines that the guarantor's obligations under the lease agreement remain unaffected and are enforceable regardless of any waiver or forbearance by the landlord. It emphasizes that the guarantor's liability cannot be waived or diminished even if the landlord has previously shown leniency towards the tenant. 2. Continuing Guaranty Provision: This provision establishes that the guarantor's liability extends throughout the entire duration of the lease, including any renewals or extensions. It specifies that the guarantor's obligations persist even if the lease term is modified or extended in any way, making it unaffected by any actions taken by the landlord. 3. Waiver and Forbearance Non-Affectation Provision: This provision ensures that any waiver or forbearance granted by the landlord to the tenant does not release the guarantor from their obligations. It clarifies that the guarantor remains fully accountable for their financial and performance responsibilities, regardless of any leniency shown by the landlord towards the tenant. 4. Notice Requirement Provision: Some variations of the Colorado Provision of Guaranty may include a notice requirement clause. This clause stipulates that the landlord must provide written notice to the guarantor regarding any waivers or forbearance granted to the tenant. It aims to keep the guarantor informed about any changes in the lease agreement and reaffirms their liability despite any concessions made. These provisions are vital elements in lease agreements governed by Colorado law. By including such provisions, landlords can ensure that the guarantors remain accountable for their obligations, even when the landlord exercises leniency towards the tenant. It provides an added layer of protection for landlords, safeguarding their rights and financial interests in the lease agreement.
