New York Personal Guaranty of Corporation Agreement to Pay Consultant

• Category: Employment - Consultants
• State: Multi-State
• Control #: US-60754
• Format: Word; Rich Text

Description

Guarantor unconditionally and absolutely guarantees to consultant, the full and prompt payment and performance by a third party of all of its obligations under and pursuant to the Agreement, 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. A New York Personal Guaranty of Corporation Agreement to Pay Consultant is a legal document that outlines the specific terms and conditions agreed upon between a corporation and a consultant regarding the consultant's fees and expenses. This agreement serves as a guarantee from an individual (the guarantor) associated with the corporation, who agrees to personally ensure the payment of the consultant's fees, in case the corporation fails to fulfill its financial obligations. Keywords: New York, Personal Guaranty, Corporation Agreement, Pay Consultant, fees, expenses, guarantee, financial obligations. There are various types of New York Personal Guaranty of Corporation Agreement to Pay Consultant, depending on the specific circumstances and parties involved. Some common variations include: 1. Limited Personal Guaranty: In this type of agreement, the guarantor's liability for the consultant's fees is limited to a certain maximum amount or a specific time period. This helps protect the guarantor from excessive financial obligations. 2. Joint and Several Personal guaranties: Here, multiple individuals associated with the corporation act as guarantors, collectively assuming responsibility for the payment of the consultant's fees. Each guarantor can be held personally liable for the entire outstanding amount. 3. Conditional Personal Guaranty: This agreement stipulates certain conditions that must be met before the guarantor becomes liable for the payment. For example, the consultant may need to provide specific deliverables or meet predetermined milestones. 4. Continuing Personal Guaranty: In cases where the consultant's services extend over an extended period, this agreement ensures that the guarantor remains liable for the consultant's fees throughout the term, even if there are changes in the corporation's ownership or management. 5. Alteration or Termination of Personal Guaranty: This type of document outlines the process and conditions under which the personal guaranty can be modified, terminated, or transferred to another party. It's important to consult legal professionals familiar with New York state laws and regulations while drafting a New York Personal Guaranty of Corporation Agreement to Pay Consultant, ensuring that all necessary clauses and provisions are included to protect the interests of both parties involved.

A New York Personal Guaranty of Corporation Agreement to Pay Consultant is a legal document that outlines the specific terms and conditions agreed upon between a corporation and a consultant regarding the consultant's fees and expenses. This agreement serves as a guarantee from an individual (the guarantor) associated with the corporation, who agrees to personally ensure the payment of the consultant's fees, in case the corporation fails to fulfill its financial obligations. Keywords: New York, Personal Guaranty, Corporation Agreement, Pay Consultant, fees, expenses, guarantee, financial obligations. There are various types of New York Personal Guaranty of Corporation Agreement to Pay Consultant, depending on the specific circumstances and parties involved. Some common variations include: 1. Limited Personal Guaranty: In this type of agreement, the guarantor's liability for the consultant's fees is limited to a certain maximum amount or a specific time period. This helps protect the guarantor from excessive financial obligations. 2. Joint and Several Personal guaranties: Here, multiple individuals associated with the corporation act as guarantors, collectively assuming responsibility for the payment of the consultant's fees. Each guarantor can be held personally liable for the entire outstanding amount. 3. Conditional Personal Guaranty: This agreement stipulates certain conditions that must be met before the guarantor becomes liable for the payment. For example, the consultant may need to provide specific deliverables or meet predetermined milestones. 4. Continuing Personal Guaranty: In cases where the consultant's services extend over an extended period, this agreement ensures that the guarantor remains liable for the consultant's fees throughout the term, even if there are changes in the corporation's ownership or management. 5. Alteration or Termination of Personal Guaranty: This type of document outlines the process and conditions under which the personal guaranty can be modified, terminated, or transferred to another party. It's important to consult legal professionals familiar with New York state laws and regulations while drafting a New York Personal Guaranty of Corporation Agreement to Pay Consultant, ensuring that all necessary clauses and provisions are included to protect the interests of both parties involved.