The Loan Guarantor Agreement is a critical legal instrument used in New Zealand lending arrangements where additional security is required for a loan facility. This document is typically employed when a lender requires extra assurance beyond the borrower's own covenant, often in situations involving business loans, property purchases, or personal lending where the borrower's creditworthiness alone is insufficient. The agreement must comply with New Zealand's Credit Contracts and Consumer Finance Act 2003 and related legislation, ensuring proper disclosure and fair trading practices. It outlines the guarantor's obligations, the extent of their liability, enforcement mechanisms, and any limitations on the guarantee, while also incorporating necessary consumer protections and disclosure requirements specific to New Zealand law.
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1. Parties: Identifies the guarantor, the lender (creditor), and the borrower whose obligations are being guaranteed
2. Background: Sets out the context of the guarantee, including reference to the principal loan agreement and the borrower's obligations
3. Definitions and Interpretation: Defines key terms used in the agreement and establishes rules for interpretation
4. Guarantee and Indemnity: Core section establishing the guarantee obligations, including the scope of the guarantee and indemnity provisions
5. Extent of Guarantee: Details the maximum liability and whether the guarantee is limited or unlimited
6. Guarantor's Acknowledgments: Confirms the guarantor's understanding of obligations and risks, meeting CCCFA requirements
7. Continuing Security: Establishes that the guarantee remains in force until all secured obligations are fully discharged
8. Payments: Specifies how and when payments must be made by the guarantor if called upon
9. Default and Enforcement: Sets out what constitutes default and the lender's enforcement rights
10. Costs and Indemnities: Addresses payment of costs, expenses, and indemnification obligations
11. General Provisions: Standard boilerplate clauses including notices, amendments, governing law, etc.
1. Security: Include when the guarantee is secured against specific assets of the guarantor
2. Multiple Guarantors: Include when there is more than one guarantor, establishing joint and several liability
3. Independent Legal Advice: Include when there's a requirement for the guarantor to obtain independent legal advice
4. Guarantee Limitations: Include when there are specific limitations on the guarantee amount or circumstances
5. Priority and Subordination: Include when there are multiple creditors and priority arrangements need to be established
6. Financial Covenants: Include when the guarantor must maintain certain financial conditions
7. Cross-Guarantees: Include when there are related guarantees or cross-collateralization arrangements
1. Schedule 1 - Principal Loan Agreement Details: Summary of the main loan agreement terms being guaranteed
2. Schedule 2 - Guarantor Information: Detailed information about the guarantor(s) and their contact details
3. Schedule 3 - Guarantee Limitations: If applicable, detailed breakdown of any limitations on the guarantee
4. Schedule 4 - Security Details: If applicable, details of any security provided by the guarantor
5. Appendix A - Independent Legal Advice Certificate: Certificate confirming the guarantor has received independent legal advice
6. Appendix B - Guarantor Acknowledgment Form: Formal acknowledgment of the guarantor's obligations and understanding
Relevant legal definitions
Guarantee
Guaranteed Obligations
Guaranteed Sum
Principal Agreement
Loan Agreement
Secured Property
Security Interest
Default Event
Enforcement Event
Guarantee Period
Guaranteed Moneys
Interest Rate
Business Day
Claim
Costs
Creditor
Related Company
Security
Security Provider
Event of Default
Insolvency Event
Material Adverse Effect
Permitted Security Interest
Release Date
Secured Obligations
Transaction Documents
Independent Legal Advice Certificate
Guarantee Certificate
Guarantor Acknowledgment
Outstanding Amount
Payment Date
Potential Event of Default
Recovery
Relevant Documents
Security Documentation
Guaranteed Obligations
Guaranteed Sum
Principal Agreement
Loan Agreement
Secured Property
Security Interest
Default Event
Enforcement Event
Guarantee Period
Guaranteed Moneys
Interest Rate
Business Day
Claim
Costs
Creditor
Related Company
Security
Security Provider
Event of Default
Insolvency Event
Material Adverse Effect
Permitted Security Interest
Release Date
Secured Obligations
Transaction Documents
Independent Legal Advice Certificate
Guarantee Certificate
Guarantor Acknowledgment
Outstanding Amount
Payment Date
Potential Event of Default
Recovery
Relevant Documents
Security Documentation
Clauses
Interpretation
Definitions
Guarantee and Indemnity
Nature of Guarantee
Consideration
Payment Obligations
Continuing Security
Independent Obligations
Deferral of Rights
Principal Debtor
Reinstatement
Indemnity
Default Interest
Costs and Expenses
Representations and Warranties
Undertakings
Events of Default
Enforcement
Security
Assignment
Notices
Amendments
Waiver
Severability
Entire Agreement
Further Assurance
Governing Law
Jurisdiction
Execution
Independent Legal Advice
Liability Limitation
Termination
Set-Off Rights
Confidentiality
Force Majeure
Counterparts
Time of Essence
Acknowledgments
Definitions
Guarantee and Indemnity
Nature of Guarantee
Consideration
Payment Obligations
Continuing Security
Independent Obligations
Deferral of Rights
Principal Debtor
Reinstatement
Indemnity
Default Interest
Costs and Expenses
Representations and Warranties
Undertakings
Events of Default
Enforcement
Security
Assignment
Notices
Amendments
Waiver
Severability
Entire Agreement
Further Assurance
Governing Law
Jurisdiction
Execution
Independent Legal Advice
Liability Limitation
Termination
Set-Off Rights
Confidentiality
Force Majeure
Counterparts
Time of Essence
Acknowledgments
Relevant Industries
Financial Services
Banking
Real Estate
Commercial Lending
Small Business
Corporate Finance
Retail Banking
Investment Banking
Property Development
Construction
Relevant Teams
Legal
Credit Risk
Compliance
Commercial Banking
Retail Banking
Operations
Risk Management
Document Management
Loan Administration
Customer Relations
Relevant Roles
Credit Manager
Loan Officer
Risk Manager
Legal Counsel
Compliance Officer
Banking Relationship Manager
Credit Analyst
Commercial Banking Manager
Mortgage Broker
Financial Advisor
Contract Administrator
Due Diligence Officer
Underwriter
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