This office lease form is a detailed guaranty where the guarantor absolutely guaranties to the landlord, its successors and assigns, the payment of all fixed rent and additional rent due as well as all listed obligations within this form.
This office lease form is a detailed guaranty where the guarantor absolutely guaranties to the landlord, its successors and assigns, the payment of all fixed rent and additional rent due as well as all listed obligations within this form.
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The good guy clause is a legal guarantee that maintains that if a tenant is unable to pay their rent, they will give their landlord notice, typically within three months, and vacate the space.
A good guy clause, typically found in rental agreements in New York City, is a provision that allows a tenant to be released from the liability of completing the agreed upon rental period, assuming the tenant vacates the rented space and leaves it in favorable condition.
2. Scope: The scope of a good guy guarantee is typically limited to unpaid rent and damages that occur before the tenant vacates the property. In contrast, the scope of a personal guarantee is broader and covers all aspects of the lease agreement, including rent payments, damages, and other obligations.
LANDLORDS CANNOT JUST THROW YOU OUT. Florida law prohibits landlords from evicting tenants without going through the court system (self-help evictions). Your landlord can't evict you without a judge's order. And if the sheriff shows up to evict you, he also must have a court order.
Put another way, a guaranty of collection requires that the debtor must exhaust certain remedies against the debtor before proceeding against the guarantor, while a guaranty of payment means that the lender can proceed directly against the guarantor even if the debtor is solvent and otherwise able to pay.
A Good Guy Guaranty provision secures a commercial lease by ensuring that the landlord regains possession of the leased property on a specific date, with the leased property being surrendered to the landlord in the condition required under the lease.
For example, if Company X stops paying rent June 1 and Company X leaves June 1, the good guy is completely off the hook. If Company X stops paying rent June 1 and Company X leaves July 1, the good guy owes the landlord rent for the month of June.
The good guy guarantee goes like this: In the event that the tenant must terminate early, the tenant must give adequate prior notice. The lease can specify how long in advance that notice is, and the parties can negotiate that time period.