This office lease guaranty states that until all obligations of the tenant are fully performed and the lease has expired or terminated, all claims that the guarantor may have against the tenant are subordinated to the landlord's claims against the tenant.
Contra Costa California Subordination and Deferral of the Guarantors Claims Against the Tenant refers to a legal arrangement between the parties involved in a lease agreement, mainly the landlord, tenant, and guarantor. This provision establishes the terms and conditions under which the guarantor's claims against the tenant are subordinated or deferred. In Contra Costa County, California, there may be different types of subordination and deferral agreements that vary based on specific circumstances or lease terms. These may include: 1. Full Subordination: This type of agreement states that the guarantor agrees to subordinate all claims they may have against the tenant, giving priority to the landlord's claims in case of default or non-payment of rent. The guarantor must wait until the landlord's claims are settled before pursuing their own. 2. Partial Subordination: In certain cases, a partial subordination may apply, where the guarantor subordinates only a portion of their claims, allowing for a specified amount or a specific event to trigger the priority of the landlord's claims. 3. Deferred Claims: Instead of subordinating their claims, the guarantor agrees to defer their right to seek compensation from the tenant until a specific event occurs. This can include waiting until the lease term ends or until the landlord's claims are completely satisfied. 4. Standby Agreement: A standby agreement is commonly included when the guarantor is an entity rather than an individual. It ensures that the guarantor will not exercise its rights against the tenant until the landlord requests it. The guarantor remains on standby, ready to step in if necessary. 5. Non-Disturbance Agreement: This kind of agreement protects the tenant's rights in case of foreclosure or sale of the property. It stipulates that if the landlord defaults or loses ownership, the new owner must honor the lease terms and any subordination and deferral provisions that were agreed upon. These agreements serve to protect the landlord's interests by ensuring the landlord's claims take priority over the guarantor's claims. It may also enable the tenant to continue operating their business without fear of immediate legal action from the guarantor. In summary, Contra Costa California Subordination and Deferral of the Guarantors Claims Against the Tenant establishes the terms under which the guarantor agrees to subordinate or defer their claims against the tenant in favor of the landlord. Different types of subordination and deferral agreements exist to cater to various lease scenarios, ensuring fairness and protection for all parties involved.Contra Costa California Subordination and Deferral of the Guarantors Claims Against the Tenant refers to a legal arrangement between the parties involved in a lease agreement, mainly the landlord, tenant, and guarantor. This provision establishes the terms and conditions under which the guarantor's claims against the tenant are subordinated or deferred. In Contra Costa County, California, there may be different types of subordination and deferral agreements that vary based on specific circumstances or lease terms. These may include: 1. Full Subordination: This type of agreement states that the guarantor agrees to subordinate all claims they may have against the tenant, giving priority to the landlord's claims in case of default or non-payment of rent. The guarantor must wait until the landlord's claims are settled before pursuing their own. 2. Partial Subordination: In certain cases, a partial subordination may apply, where the guarantor subordinates only a portion of their claims, allowing for a specified amount or a specific event to trigger the priority of the landlord's claims. 3. Deferred Claims: Instead of subordinating their claims, the guarantor agrees to defer their right to seek compensation from the tenant until a specific event occurs. This can include waiting until the lease term ends or until the landlord's claims are completely satisfied. 4. Standby Agreement: A standby agreement is commonly included when the guarantor is an entity rather than an individual. It ensures that the guarantor will not exercise its rights against the tenant until the landlord requests it. The guarantor remains on standby, ready to step in if necessary. 5. Non-Disturbance Agreement: This kind of agreement protects the tenant's rights in case of foreclosure or sale of the property. It stipulates that if the landlord defaults or loses ownership, the new owner must honor the lease terms and any subordination and deferral provisions that were agreed upon. These agreements serve to protect the landlord's interests by ensuring the landlord's claims take priority over the guarantor's claims. It may also enable the tenant to continue operating their business without fear of immediate legal action from the guarantor. In summary, Contra Costa California Subordination and Deferral of the Guarantors Claims Against the Tenant establishes the terms under which the guarantor agrees to subordinate or defer their claims against the tenant in favor of the landlord. Different types of subordination and deferral agreements exist to cater to various lease scenarios, ensuring fairness and protection for all parties involved.
