home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
Complete Home & Office Legal Guide
/
Complete Home and Office Legal Guide (Chestnut) (1993).ISO
/
ex
/
fib
/
le
/
8500.ws
(
.txt
)
< prev
next >
Wrap
WordStar Document
|
1993-08-01
|
2KB
|
60 lines
GUARANTEE AGREEMENT
___________, referred to as GUARANTOR, in consideration of the
extension of credit by ___________, CREDITOR, to __________
_______, DEBTOR, agrees:
GUARANTOR unconditionally guarantees to creditors and its
successors and assigns, the full and complete payment, as and when
the same becomes due and payable, the following obligations of the
DEBTOR to the CREDITOR:
______________________________________________________________
and in addition, all extensions, renewals and consolidations of
the obligation, together with such interest and late charges as
may accrue upon the same. For purposes of this agreement, the term
"obligation," "agreement" or "debt" includes any renewals,
replacements or modifications of the same;
Guarantor shall not be released from the obligations herein due
to:
a) the taking of security for the obligation;
b) the failure or delay in taking legal action against the DEBTOR
or collateral, if any;
c) any other actions permitted under the loan agreement;
d) any negligence or failure to act of the CREDITOR.
The CREDITOR, in its discretion, may bring suit against the
GUARANTOR, or GUARANTOR(s), jointly severally or individually,
before bringing action against the DEBTOR. The CREDITOR in its
discretion may settle, release and compromise the liability of
debtor or any other guarantor(s) of this agreement without
affecting the liability of the DEBTOR.
This agreement shall bind the successor, heirs, administrators and
legal representatives of the CREDITOR.
Dated: _______________________
_____________________________________________
Guarantor
Witnesses:
_____________________________________________
_____________________________________________