Guaranty
Date:
Lease
Date:
Landlord:
Tenant:
Premises:
Guarantor:
Guarantor’s Address:
To induce Landlord to enter into the Lease and for other consideration, Guarantor agrees that—
1.Guarantor guarantees the performance of Tenant’s obligations under the Lease.
2.This is a primary, irrevocable, and unconditional guaranty of payment and performance and not of collection and is independent of Tenant’s obligations under the Lease.
3.Guarantor will make all payments to Landlord at Landlord’s address set forth in the Lease.
4.This guaranty will remain in effect regardless of any modification or extension of the Lease.
5.Guarantor’s obligations will not be diminished by any compromise or release agreed on by Tenant and Landlord or by the discharge, limitation, or modification of Tenant’s obligations in any bankruptcy or other debtor relief proceeding.
6.If there is more than one guarantor, the obligations of each guarantor will be joint and several.
7.Texas law applies to the guaranty.
Guarantor waives its rights—
1.To notices of acceptance, modification, extension, and default and any other notice.
2.To claim any defense arising out of lack of diligence; any failure to pursue Tenant; loss or impairment of any right of subrogation or reimbursement; release of any other guarantor or collateral; death, insolvency, or lack of corporate authority of Tenant; and waiver, release, or election, based on Landlord’s or Tenant’s rights and obligations under the Lease and the enforcement of its terms.
3.Under chapter 43 of the Texas Civil Practice and Remedies Code.
The prevailing party in any dispute arising out of this guaranty will be entitled to recover reasonable attorney’s fees.
[Name of guarantor]