This office lease form states that a guaranty in which a corporate guarantor has the authority of the signatory to bind a corporation. This guaranty gives the guarantor full power, authority and legal right to execute and deliver this guaranty and that this guaranty constitutes the valid and binding obligation of the guarantor.
The Tennessee authority of a signatory to bind the guarantor refers to the legal power bestowed upon an individual to act on behalf of a guarantor in an agreement or contract. This authority ensures that the signatory is validly authorized to enter into binding agreements and obligations on behalf of the guarantor in the state of Tennessee. In Tennessee, the authority of a signatory to bind the guarantor may take different forms depending on the specific circumstances and agreements involved. Some different types of Tennessee authority of signatory to bind the guarantor are as follows: 1. Corporate Guarantor Authority: When a corporation acts as a guarantor, the authority of a signatory can be granted through the corporation's bylaws or through a board resolution authorizing certain individuals, such as officers or directors, to act on the corporation's behalf. 2. Limited Liability Company (LLC) Guarantor Authority: Similar to corporate guarantors, an LLC may grant authority to bind the guarantor through its operating agreement or resolutions passed by the members or managers of the LLC. 3. Partnership Guarantor Authority: In the case of partnerships, the authority of a signatory to bind the guarantor can be established through a partnership agreement or via unanimous consent of the partners. 4. Individual Guarantor Authority: When an individual acts as a guarantor, their authority to bind themselves can be expressly given through a power of attorney or, more commonly, through their signature on the agreement or contract. It is important to note that the specific authority granted to a signatory will depend on the agreement between the guarantor and the party being guaranteed. The terms and conditions of such authority may vary from one agreement to another. It is crucial for all parties involved to carefully review the contract and consult legal professionals to ensure the signatory's authority is valid and enforceable in Tennessee.
