This office lease guaranty states that the guarantor's obligations under this guaranty shall be unaffected by any discharge or release of the tenant, its successors or assigns, or any of their debts, in connection with any bankruptcy, reorganization, or other insolvency proceeding or assignment for the benefit of creditors.
A New York Guarantor Waiver Which Avoids Release of Guarantor by Reason of the Tenant Discharge Release or Bankruptcy is a legal document that seeks to protect the guarantor from being released from their obligations in the event of the tenant's discharge, release, or bankruptcy. This waiver is particularly relevant in the real estate industry, where guarantors are commonly used to provide additional security for lease agreements. In New York, there can be different variations or types of guarantor waivers, each tailored to the specific circumstances and requirements of the parties involved. These waivers typically include specific language and provisions to ensure that the guarantor remains liable, regardless of the tenant's discharge, release, or bankruptcy. Keywords: New York Guarantor Waiver, Avoids Release of Guarantor, Tenant Discharge Release, Bankruptcy, legal document, protection, obligations, real estate, lease agreements, liability.