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Personal Guarantee Form For Commercial Lease

Personal Guarantee Form For Commercial Lease Template for New Zealand

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Key Requirements PROMPT example:

Personal Guarantee Form For Commercial Lease

"I need a Personal Guarantee Form For Commercial Lease for a retail store in Auckland, where the company director will act as sole guarantor for a 5-year lease starting March 2025."

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Document background
The Personal Guarantee Form For Commercial Lease is a critical document in New Zealand's commercial property sector, commonly used when a landlord requires additional security beyond the tenant company's covenant. This typically occurs when leasing to new businesses, companies with limited trading history, or where the tenant's financial strength needs supplementing. The guarantee creates a direct obligation between the guarantor (often a company director or shareholder) and the landlord, ensuring the landlord has recourse to the guarantor's personal assets if the tenant defaults on their lease obligations. The document must comply with New Zealand's Property Law Act 2007 and Contract and Commercial Law Act 2017, and typically includes detailed provisions about the scope of guaranteed obligations, enforcement mechanisms, and the continuing nature of the guarantee.
Suggested Sections

1. Parties: Identifies the guarantor(s), the landlord (beneficiary of the guarantee), and references to the tenant

2. Background: Explains the context of the guarantee, including reference to the main lease agreement and the relationship between the guarantor and tenant

3. Definitions: Defines key terms used in the guarantee including 'Guaranteed Obligations', 'Lease', 'Premises', and other relevant terms

4. Guarantee and Indemnity: Core section detailing the guarantee obligations, including both the guarantee and indemnity provisions

5. Extent of Guarantee: Specifies the scope and limitations of the guarantee obligations

6. Continuing Security: Establishes that the guarantee remains in force until all obligations are fulfilled

7. Guarantor's Obligations: Details specific obligations and responsibilities of the guarantor

8. Landlord's Rights: Outlines the rights of the landlord in enforcing the guarantee

9. Payments: Specifies how and when payments must be made under the guarantee

10. Representations and Warranties: Guarantor's confirmations about their capacity and authority to enter into the guarantee

11. Enforcement: Procedures and rights for enforcing the guarantee

12. Execution: Formal signing section with attestation requirements

Optional Sections

1. Security: Include when specific assets are being provided as additional security for the guarantee

2. Multiple Guarantors: Include when there is more than one guarantor, defining joint and several liability

3. Assignment and Transfer: Include when rights under the guarantee may need to be assigned or transferred

4. Guarantee Limit: Include when the guarantee is to be capped at a specific amount

5. Corporate Guarantor Provisions: Include when the guarantor is a company rather than an individual

6. Independent Legal Advice: Include when there's a requirement for the guarantor to obtain independent legal advice

7. Financial Reporting: Include when ongoing financial disclosure from the guarantor is required

Suggested Schedules

1. Schedule 1 - Details of the Lease: Key information about the underlying lease including property details, term, and rent

2. Schedule 2 - Guarantor Details: Detailed information about the guarantor(s) including contact details and address for service

3. Schedule 3 - Guaranteed Obligations: Detailed list of the specific obligations being guaranteed

4. Appendix A - Independent Legal Advice Certificate: Certificate from a lawyer confirming independent legal advice has been given to the guarantor

5. Appendix B - Copy of Lease Agreement: Attached copy of the underlying lease agreement being guaranteed

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Commercial Real Estate

Retail

Hospitality

Professional Services

Industrial

Healthcare

Education

Technology

Manufacturing

Warehousing and Logistics

Relevant Teams

Legal

Property Management

Risk and Compliance

Real Estate

Operations

Finance

Credit Management

Asset Management

Business Development

Contract Administration

Relevant Roles

Property Manager

Commercial Leasing Manager

Legal Counsel

Real Estate Agent

Commercial Property Lawyer

Lease Administrator

Risk Manager

Credit Manager

Business Development Manager

Tenant Representative

Asset Manager

Portfolio Manager

Company Director

Chief Financial Officer

Commercial Property Broker

Industries
Property Law Act 2007: Primary legislation governing real property in New Zealand, including commercial lease provisions, covenants, and enforcement of property rights
Contract and Commercial Law Act 2017: Governs contract formation, validity, and enforcement, including provisions for guarantees and contractual remedies
Personal Property Securities Act 1999: Relevant for security interests and registration requirements if the guarantee involves any security component
Credit Contracts and Consumer Finance Act 2003: While primarily consumer-focused, contains provisions that may affect personal guarantee arrangements
Limitation Act 2010: Sets time limits for bringing claims and enforcement actions related to contracts and guarantees
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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