The Personal Guarantor Agreement Form is a crucial legal instrument used in Danish business and financial transactions when additional security is required for a financial obligation. This document is commonly utilized when a creditor requires personal assurance beyond the principal debtor's commitment, particularly in situations involving business loans, property leases, or significant financial commitments. The agreement must comply with Danish law, including the Danish Contracts Act (Aftaleloven) and relevant financial regulations. It includes detailed provisions regarding the guarantee's scope, enforcement procedures, and protections for all parties involved. The document is particularly important in commercial lending scenarios where banks or financial institutions require additional security for loans, or in business situations where personal guarantees are needed to secure commercial obligations.
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Key Requirements PROMPT example:
Personal Guarantor Agreement Form
I need a Personal Guarantor Agreement Form under Danish law where my father will act as guarantor for my small restaurant business loan of 500,000 DKK from Nordic Bank, with the guarantee period starting from March 1, 2025.
1. Parties: Identification of the Creditor, Principal Debtor, and Guarantor with full legal names and addresses
2. Background: Context of the guarantee, including details of the underlying obligation being guaranteed
3. Definitions: Definitions of key terms used throughout the agreement
4. Scope of Guarantee: Precise description of the obligations covered by the guarantee, including maximum liability amount
5. Nature of Guarantee: Specification that this is a continuing guarantee and details of whether it is joint and several
6. Guarantor's Obligations: Detailed description of the guarantor's responsibilities and payment obligations
7. Duration and Enforceability: Terms regarding when and how the guarantee can be enforced
8. Creditor's Rights: Rights of the creditor in relation to enforcement and collection
9. Representations and Warranties: Guarantor's confirmations regarding their capacity and understanding
10. Notices: Requirements for how formal communications between parties should be made
11. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Multiple Guarantors: Additional provisions when there is more than one guarantor, including joint and several liability
2. Security: Details of any additional security provided alongside the guarantee
3. Guarantee Limitations: Specific limitations on the guarantee amount or scope, used when the guarantee is not unlimited
4. Corporate Authority: Additional provisions required when the guarantor is a company rather than an individual
5. Assignment: Provisions regarding the ability to assign or transfer the guarantee, if permitted
6. Costs and Expenses: Provisions regarding who bears the costs of preparing and enforcing the guarantee
7. Termination Rights: Specific conditions under which the guarantor may be released from obligations
1. Schedule 1 - Guaranteed Obligations: Detailed description of the underlying obligations being guaranteed
2. Schedule 2 - Form of Demand: Template for making a formal demand under the guarantee
3. Schedule 3 - Supporting Documents: List of documents provided by the guarantor to support their capacity to give the guarantee
4. Appendix A - Principal Debt Agreement: Copy or summary of the main agreement being guaranteed
5. Appendix B - Financial Information: Financial details of the guarantor (if required)
Authors
Relevant legal definitions
Agreement
Guaranteed Obligations
Guaranteed Amount
Principal Debt
Principal Debtor
Creditor
Guarantor
Guarantee Period
Business Day
Default Event
Demand
Enforcement Notice
Effective Date
Termination Date
Security
Permitted Transfer
Related Rights
Interest Rate
Maximum Liability
Notice
Working Hours
Applicable Law
Relevant Jurisdiction
Enforcement Costs
Material Adverse Change
Outstanding Amount
Payment Date
Underlying Agreement
Authorized Representative
Danish Business Day
Guaranteed Obligations
Guaranteed Amount
Principal Debt
Principal Debtor
Creditor
Guarantor
Guarantee Period
Business Day
Default Event
Demand
Enforcement Notice
Effective Date
Termination Date
Security
Permitted Transfer
Related Rights
Interest Rate
Maximum Liability
Notice
Working Hours
Applicable Law
Relevant Jurisdiction
Enforcement Costs
Material Adverse Change
Outstanding Amount
Payment Date
Underlying Agreement
Authorized Representative
Danish Business Day
Clauses
Interpretation
Guarantee and Indemnity
Duration
Scope of Guarantee
Payment Obligations
Representations and Warranties
Continuing Security
Enforcement
Default
Discharge and Release
Assignment and Transfer
Notices
Costs and Expenses
Severability
Amendments
Waiver
Set-off Rights
Joint and Several Liability
Independent Obligations
Further Assurance
Entire Agreement
Third Party Rights
Counterparts
Governing Law
Jurisdiction
Service of Process
Force Majeure
Confidentiality
Data Protection
Limitation of Liability
Guarantee and Indemnity
Duration
Scope of Guarantee
Payment Obligations
Representations and Warranties
Continuing Security
Enforcement
Default
Discharge and Release
Assignment and Transfer
Notices
Costs and Expenses
Severability
Amendments
Waiver
Set-off Rights
Joint and Several Liability
Independent Obligations
Further Assurance
Entire Agreement
Third Party Rights
Counterparts
Governing Law
Jurisdiction
Service of Process
Force Majeure
Confidentiality
Data Protection
Limitation of Liability
Relevant Industries
Banking and Financial Services
Real Estate
Small Business and Entrepreneurship
Construction
Retail
Manufacturing
Professional Services
Hospitality
Import/Export
Automotive
Relevant Teams
Legal
Credit Risk
Commercial Banking
Compliance
Contract Administration
Financial Control
Account Management
Underwriting
Business Development
Corporate Advisory
Relevant Roles
Legal Counsel
Credit Manager
Risk Assessment Officer
Commercial Banking Manager
Loan Officer
Compliance Officer
Contract Administrator
Business Development Manager
Financial Controller
Account Manager
Corporate Lawyer
Underwriting Manager
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