An authorised guarantee agreement is a contract between a company and its directors, in which the directors agree to indemnify the company for any losses it suffers as a result of their breach of duty. The agreement may also cover other types of losses, such as losses incurred as a result of the directors' negligence.
This is an authorised guarantee agreement (AGA) for use with a lease that is considered a new lease under the Landlord and Tenant (Covenants) Act 1995. The AGA has optional wording that can be used if there is a guarantor for the outgoing tenant who is also giving a sub guarantee (also known as a GAGA).
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