New Mexico 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 New Mexico Guaranty of Promissory Note by Corporation — Corporate Borrower is a legal document that serves as a guarantee for the repayment of a promissory note by a corporation in the state of New Mexico. This agreement establishes the corporation's commitment to fulfill its financial obligations and provides the lender with an additional layer of security. Keywords associated with this document include New Mexico, Guaranty, Promissory Note, Corporation, Corporate Borrower, and Agreement. The purpose of this contract is to protect the lender's interests in case the corporate borrower fails to make the required payments under the promissory note. The guarantor ensures that the lender will receive its due amount by assuming the liability for any outstanding debts. This document may also contain various clauses and provisions, such as: 1. Guarantor Identification: The names, addresses, and contact information of both the corporation and the guarantor are specified to clearly identify the parties involved. 2. Promissory Note Details: The specific promissory note that is being guaranteed is described, including the principal amount, interest rate, repayment terms, and any other relevant terms. 3. Guarantor's Obligations: The guarantor agrees to be personally liable for the payment of the promissory note as and when it becomes due. This includes any accrued interest, late fees, and other costs associated with the note. 4. Guarantor's Waivers: The guarantor may waive certain rights, such as the right to require the lender to pursue the corporate borrower before seeking payment from the guarantor. 5. Guarantor's Indemnification: The guarantor agrees to indemnify and hold harmless the lender from any losses, costs, or damages incurred as a result of the corporation's failure to perform its obligations under the promissory note. 6. Governing Law: The agreement will specify that it is governed by and interpreted under the laws of the state of New Mexico, ensuring compliance with the state's legal framework. It's important to note that there may be different types or variations of this Guaranty document depending on the specific circumstances or requirements of the lender and borrower. These variations could include modifications to the terms and conditions, additional provisions, or specific language tailored to the needs of the parties involved.

The New Mexico Guaranty of Promissory Note by Corporation — Corporate Borrower is a legal document that serves as a guarantee for the repayment of a promissory note by a corporation in the state of New Mexico. This agreement establishes the corporation's commitment to fulfill its financial obligations and provides the lender with an additional layer of security. Keywords associated with this document include New Mexico, Guaranty, Promissory Note, Corporation, Corporate Borrower, and Agreement. The purpose of this contract is to protect the lender's interests in case the corporate borrower fails to make the required payments under the promissory note. The guarantor ensures that the lender will receive its due amount by assuming the liability for any outstanding debts. This document may also contain various clauses and provisions, such as: 1. Guarantor Identification: The names, addresses, and contact information of both the corporation and the guarantor are specified to clearly identify the parties involved. 2. Promissory Note Details: The specific promissory note that is being guaranteed is described, including the principal amount, interest rate, repayment terms, and any other relevant terms. 3. Guarantor's Obligations: The guarantor agrees to be personally liable for the payment of the promissory note as and when it becomes due. This includes any accrued interest, late fees, and other costs associated with the note. 4. Guarantor's Waivers: The guarantor may waive certain rights, such as the right to require the lender to pursue the corporate borrower before seeking payment from the guarantor. 5. Guarantor's Indemnification: The guarantor agrees to indemnify and hold harmless the lender from any losses, costs, or damages incurred as a result of the corporation's failure to perform its obligations under the promissory note. 6. Governing Law: The agreement will specify that it is governed by and interpreted under the laws of the state of New Mexico, ensuring compliance with the state's legal framework. It's important to note that there may be different types or variations of this Guaranty document depending on the specific circumstances or requirements of the lender and borrower. These variations could include modifications to the terms and conditions, additional provisions, or specific language tailored to the needs of the parties involved.