Hawaii Guaranty of Promissory Note by Corporation - Corporate Borrower

• Category: Promissory Notes - Guaranty
• State: Multi-State
• Control #: US-00527C
• Format: Word; Rich Text

Description

This form states that in order to get the borrower to enter into certain promissory notes, the corporate guarantor unconditionally and absolutely guarantees to payees, jointly and severally, the full and prompt payment and performance by the borrower of all of its obligations under and pursuant to the promissory notes, together with the full and prompt payment of any and all costs and expenses of and incidental to the enforcement of this Guaranty, including, without limitation, reasonable attorneys' fees. The Hawaii Guaranty of Promissory Note by Corporation — Corporate Borrower is a legal document used in Hawaii to provide a guarantee for a promissory note issued by a corporation. This document outlines the terms and conditions under which the corporation, acting as the guarantor, agrees to be legally responsible for the debt obligations of the borrower. The purpose of this guaranty is to ensure that the lender has an added layer of security in case the borrower defaults on the promissory note. By having the corporation as a guarantor, the lender can seek recourse from both the borrower and the corporation in the event of non-payment. The Guaranty of Promissory Note by Corporation — Corporate Borrower document typically includes the following key elements: 1. Identification of the Parties: This section includes the names and addresses of the corporation acting as the guarantor and the borrower. It is essential to accurately identify the entities involved to avoid any confusion or ambiguity. 2. Recitals: This part of the document provides a brief background and context for the guaranty. It outlines the reasons for the guaranty and may reference the promissory note being guaranteed. 3. Guaranty Provision: This section contains the actual guaranty language, where the corporation pledges to be legally responsible for the borrower's debt obligations. It may include specific language regarding the amount guaranteed, the term of the guaranty, and any limitations or conditions. 4. Representations and Warranties: The guarantor may make certain representations and warranties to the lender. These may include confirming the corporation's legal authority to enter into the guaranty, the absence of any pending legal actions or conflicts, or the accuracy of financial statements provided. 5. Governing Law and Jurisdiction: This clause specifies that the guaranty will be governed by the laws of Hawaii. It also outlines the jurisdiction where any legal disputes arising from the guaranty will be resolved. 6. Indemnification and Legal Expenses: This section stipulates that the borrower is responsible for indemnifying the guarantor for any losses or damages incurred as a result of the guaranty. It may also detail the allocation of legal expenses in case of legal action. It is important to note that while this description outlines the general features of a Hawaii Guaranty of Promissory Note by Corporation — Corporate Borrower, variations and additional provisions may exist depending on the specific form used or the preferences of the parties involved. Regarding different types of Hawaii Guaranty of Promissory Note by Corporation — Corporate Borrower, it is possible that variations exist based on factors such as the amount being guaranteed, the specific terms and conditions, or the type of collateral securing the promissory note. However, without specific information on distinct variations, it is challenging to enumerate them accurately.

The Hawaii Guaranty of Promissory Note by Corporation — Corporate Borrower is a legal document used in Hawaii to provide a guarantee for a promissory note issued by a corporation. This document outlines the terms and conditions under which the corporation, acting as the guarantor, agrees to be legally responsible for the debt obligations of the borrower. The purpose of this guaranty is to ensure that the lender has an added layer of security in case the borrower defaults on the promissory note. By having the corporation as a guarantor, the lender can seek recourse from both the borrower and the corporation in the event of non-payment. The Guaranty of Promissory Note by Corporation — Corporate Borrower document typically includes the following key elements: 1. Identification of the Parties: This section includes the names and addresses of the corporation acting as the guarantor and the borrower. It is essential to accurately identify the entities involved to avoid any confusion or ambiguity. 2. Recitals: This part of the document provides a brief background and context for the guaranty. It outlines the reasons for the guaranty and may reference the promissory note being guaranteed. 3. Guaranty Provision: This section contains the actual guaranty language, where the corporation pledges to be legally responsible for the borrower's debt obligations. It may include specific language regarding the amount guaranteed, the term of the guaranty, and any limitations or conditions. 4. Representations and Warranties: The guarantor may make certain representations and warranties to the lender. These may include confirming the corporation's legal authority to enter into the guaranty, the absence of any pending legal actions or conflicts, or the accuracy of financial statements provided. 5. Governing Law and Jurisdiction: This clause specifies that the guaranty will be governed by the laws of Hawaii. It also outlines the jurisdiction where any legal disputes arising from the guaranty will be resolved. 6. Indemnification and Legal Expenses: This section stipulates that the borrower is responsible for indemnifying the guarantor for any losses or damages incurred as a result of the guaranty. It may also detail the allocation of legal expenses in case of legal action. It is important to note that while this description outlines the general features of a Hawaii Guaranty of Promissory Note by Corporation — Corporate Borrower, variations and additional provisions may exist depending on the specific form used or the preferences of the parties involved. Regarding different types of Hawaii Guaranty of Promissory Note by Corporation — Corporate Borrower, it is possible that variations exist based on factors such as the amount being guaranteed, the specific terms and conditions, or the type of collateral securing the promissory note. However, without specific information on distinct variations, it is challenging to enumerate them accurately.