Anatomy of a Good Guy Guaranty Form

Instructions and help about Anatomy Of A Good Guy Guaranty

hi everyone this is alan rozinski of metro manhattan office space good afternoon now anyone with experience signing a lease in new york city knows that most commercial landlords have a clause in the lease called a good guy guarantee a limited personal guarantee now any form of a personal guarantee is always intimidating and you should really try to avoid signing this however there's good reason for good guy guarantees and they really are pretty standard and they're very little threat to commercial tenants so let me explain what they are what they mean what the implications are and why you shouldn't be too concerned what a good guy guarantee means is that you are promising the landlord that your company the entity that signs the lease is going to pay the rent at all times while they remain in the space and in the event that they break the lease that they leave early they're going to be current on their rent so what you're guaranteeing on a personal level is that if your company stays in