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Guaranties: Landlord and Tenant Perspective - Webinar

  • ID: 4582118
  • Webinar
  • April 2019
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
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Know the pros and cons of the use of guaranties from the perspective of both the landlord and the tenant.

This highly informative topic is designed to enhance your knowledge and understanding of how various types of guaranties are addressed in todays commercial lease environment. Explore the pros and cons of the use of guaranties from the perspective of both the landlord and the tenant, and discuss the importance of thoroughly reviewing these critical documents and the various provisions within them.

Learning Objectives
  • You will be able to describe how to better negotiate the various types of guaranties from both the landlords and the tenants perspective.
  • You will be able to recognize more easily various types of guaranties typically found in commercial lease transactions, how they differ and how each could be beneficial/nonbeneficial to the landlord andor the tenant.
  • You will be able to discuss and explain why certain items should be included or excluded from guaranties during negotiations from both the landlords and the tenants perspective.
  • You will be able to review and analyze guaranties more efficiently and cost effectively.
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Overview
  • Letter of Intent/Term Sheet
  • Parties' Leverage
  • General Economic Conditions
  • Specific Location of Premises
  • Desirability of Particular Property
  • Tenant's Net Worth/Creditworthiness/Financial Condition
Basic Concepts
  • Security Deposit - Cash and/or Letter of Credit
  • Guaranty as Additional Security
  • Lease Provision
  • Separate/Stand Alone Document vs. Joinder
  • Jointly and Severally vs. Jointly, Severally and Collectively
  • Primary Liability
Types of Guaranties
  • Corporate vs. Personal
  • Full vs. Limited
Landlord Perspective/Protections
  • Tail [e.g., X Months After Expiration/Surrender Date (e.g., Curing Violations of Law, Paying Any Fines/Penalties and Paying/Bonding of Liens)]
  • Analysis of Standard Form Guaranty/Provisions
Tenant Perspective/Protections
  • Death of Guarantor
  • New/Replacement Guarantor (i.e., Assignment of Lease to Entity Not Related to Tenant)/Release
  • Reasonable Attorneys' Fees
  • Guarantor to Receive Notice of Tenant Default
  • Without Giving Effect to/Taking Into Consideration Any Acceleration of Rent
  • If Lease Assigned to Unaffiliated Third Party, Guarantor Liability Should Not Be Increased or Expanded Beyond Liability of Guarantor Which Existed at Time the Lease Was Assigned
Miscellaneous Issues
  • Reaffirmation of Guaranty in Lease Amendments/Modifications
  • Termination - Landlord to Mark Guaranty Canceled and Return to Guarantor
  • Designate Tenant as Agent for Service of Process
  • Designate Agent for Service of Process
  • Guarantee of Payment vs. Guaranty of Collection
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Jan Alan Lewis, Esq. - Cole Schotz P.C.
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This webinar is designed for attorneys, property managers, building owners and managers, real estate professionals, landlords, presidents, vice presidents and accountants.
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