This Guaranty of Commercial Lease offers lessors in Maine additional security that their corporate tenants will honor their lease obligations.
- The guaranty is given by a principal of the company, such as a shareholder, partner, sole proprietor or some other person with a financial interest in the tenant.
- The guarantee is unconditional and continuing, and will stay in effect throughout the lease term and any extension or renewal.
- A guarantee of this type is typically required as an inducement to the lessor â„ landlord to sign the lease.
- The guarantor guarantees payment of all rent and other amounts due under the lease, including the payment of legal fees incurred by the landlord in enforcing the terms of the lease.
This Maine Guaranty of Commercial Lease
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Last Updated: 14-April-2016