This Guaranty secures a corporate tenant's performance of a commercial lease in Minnesota, including payment of rent.
- The guaranty is unconditional and continuing, which means that it stays in effect until the end of the lease term and any renewals or extensions.
- The guarantor is someone with a material interest in the business, such as a shareholder or partner.
- 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 Minnesota Guaranty of Commercial Lease
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Last Updated: 14-April-2016