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Guaranties: Landlord and Tenant Perspective

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 today's 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.

Runtime: 91 minutes
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Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

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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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 23, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jan Alan Lewis, Esq.

Jan Alan Lewis, Esq.

Cole Schotz P.C.

  • Member of Cole Schotz P.C.'s Real Estate Department
  • Concentrating in commercial office and industrial leasing, representing both landlords and tenants, on a local, regional and national basis
  • Handled various complex real estate transactions on behalf of prominent owners, developers and companies throughout the United States, and has frequently been retained as local counsel to represent tenants with respect to their leases
  • Responsibilities include the preparation, review and negotiation of leases and related documents for commercial (including office, industrial, warehouse and retail) and residential properties
  • Member of the National Association of Industrial and Office Properties, as well as the New Jersey State Bar Association, New York County Lawyers' Association and the American Bar Association
  • Frequent lecturer and author of numerous articles on the subject of commercial leasing
  • Achieved the highest rating in the Martindale-Hubbell Law Directory
  • J.D. degree, Temple University Beasley School of Law; B.A. degree, summa cum laude, Lehigh University
  • Can be contacted at 201-525-6228 or jlewis@coleschotz.com
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405962
Published 2019
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