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Good Guy Guaranty

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Sample Form of "Good Guy" Guaranty

GUARANTY

Owner , its grantees, successors, and assigns

Tenant , its successors and assigns

Premises , in the building (the "Building") known as
Street, New York, New York (as same may be reconfigured or changed pursuant to any amendment of the Lease)

Lease , dated on or about , between Owner and Tenant for the Premises, as such lease may be amended, extended, and modified

Guarantor

To induce Owner to lease the Premises to Tenant pursuant to the Lease and intending to be legally bound, Guarantor has executed and delivered this Guaranty to Owner. Guarantor represents that he is a principal of Tenant.

Guarantor hereby unconditionally and absolutely guarantees to Owner all of the following obligations:

1. The full, prompt, and complete payment of all rent and additional rent due under the Lease, through and including the Vacate Date (hereinafter defined); and

2. The full, prompt, and complete payment of all monetary obligations of Tenant to Landlord, after the termination or expiration of the Lease term, by reason of Tenant's occupancy of the Premises (or the occupancy of the Premises by anyone holding under or through Tenant), including but not limited to "use and occupancy" and any payments due in connection with any month-to-month tenancy, if any, that may arise, through and including the Vacate Date; and

3. That if any mechanic's lien is filed against the Building for work claimed to have been done for or materials furnished to Tenant, its principals or agents, the same shall be discharged within thirty (30) days thereafter by filing the bond required by law or otherwise. Guarantor further agrees to save Owner harmless and to indemnify Owner against any liabilities, costs, and expenses, including reasonable attorneys' fees, incurred by Owner if any such mechanic's liens filed against the Building are not discharged within such 30-day period, including any sums spent by Owner to cause the removal of such lien(s) or to otherwise exercise its rights under the Lease.

The "Vacate" Date is the date that Tenant surrenders the Premises to Owner broom clean and vacant, and free of all occupants, and delivers to Owner a key to the Premises.

Owner is not obligated to give Guarantor notice of any default by Tenant under the Lease or any termination notice, and Guarantor hereby waives such notices. Guarantor waives all other notices required or permitted to be given under the Lease or otherwise. Guarantor also waives acceptance and notice of acceptance of this Guaranty, and all demands for payment or performance.

Guarantor waives all defenses other than payment in full.

Guarantor's liability under this Guaranty shall not be affected or impaired by any delay by or failure of Landlord in enforcing any of its rights or remedies under the Lease or at law, or by any deferral, waiver, or release of Tenant's obligations under the Lease or any forbearance by Landlord in exercising any of its rights and remedies or by any other action, inaction, or omission by Landlord. This Guaranty is independent of any security or remedies which Landlord has under the law. Landlord may proceed against Guarantor at any time, either independently of or concurrently with or in lieu of Landlord's application of any security held by Landlord or Landlord's exercise of any remedies Landlord may have against Tenant. Landlord is not required to resort to any security deposit or other collateral it may hold and is not required to pursue any remedies it may have against the Tenant. Nothing contained in this Guaranty shall be deemed to affect or limit any of Owner's remedies against Tenant under the Lease or the law.

Guarantor's obligations under this Guaranty shall be unaffected by any discharge or release of the Tenant, its successors or assigns, or any of their debts, in connection with any bankruptcy, reorganization, or other insolvency proceeding or assignment for the benefit of creditors; any rejection or disaffirmation of the Lease in any bankruptcy, reorganization, or other insolvency proceeding or assignment for the benefit of creditors; or any reduction, modification, impairment or limitation of the liability of the Tenant, its successors or assigns, or of Landlord's remedies under the Lease, in connection with any bankruptcy, reorganization or other insolvency proceeding or any assignment for the benefit of creditors. In addition, if Landlord is required to disgorge or pay back to the Tenant's estate any payments made by the Tenant under the Lease in connection with any bankruptcy, reorganization or insolvency proceeding, Guarantor's obligations as to such payments shall be reinstated.

The liability of Guarantor shall continue during the entire term of the Lease and any renewals or extensions thereof, whether or not such renewals or extensions are entered into pursuant to any right or option contained in the Lease (subject to the cut off of Guarantor's obligations as of the Termination Date, as provided above). Guarantor's liability shall continue even if the Lease is assigned or the Premises are sublet. Guarantor's liability shall not be affected or impaired by reason of any modification or amendment of the Lease.

Guarantor waives all right to trial by jury in any action or proceeding to which Owner and Guarantor are party, with respect to any claim, counterclaim, cross-claim, or defense raised with respect to this Guaranty or the Lease.

Until all obligations of Tenant that are guarantied under this Guaranty are fully performed and the Lease has expired or terminated, all claims Guarantor may have against Tenant (including but not limited to any claim Guarantor has against Tenant for reimbursement of any payments made or costs incurred by Guarantor pursuant to this Guaranty) are subordinated to Landlord's claims against Tenant. Further, Guarantor shall not assert any claim Guarantor may have against Tenant (including but not limited to any claim Guarantor has against Tenant for reimbursement of any payments made or costs incurred by Guarantor pursuant to this Guaranty), until all obligations of Tenant that are guarantied under this Guaranty are fully performed.

Guarantor shall reimburse Owner for all costs and expenses incurred by Owner in enforcing and/or attempting to enforce this Guaranty, including but not limited to court costs, reasonable attorneys' fees and disbursements. Guarantor shall so reimburse Owner within ten (10) days after Owner bills Guarantor for such costs and expenses.

If more than one person has signed this Guaranty, the term "Guarantor" shall be read as "Guarantors." The use of the singular shall be deemed to refer to the plural whenever the context so requires. The use of the masculine, feminine, or neuter genders shall be deemed to refer to another gender wherever the context so requires.

If more than one person or entity has signed this Guaranty, each of the undersigned shall be jointly and severally liable for all of the obligations hereunder. Any notice by the Owner to any one of the undersigned Guarantors shall be deemed given to all of the Guarantors and shall have the same force and effect as though given to all persons constituting the Guarantor.

This Guaranty shall be binding upon Guarantor, his successors and legal representatives, and shall inure to the benefit of Owner, its successors, grantees, legal representatives and assigns.

This Guaranty shall be governed by and construed in accordance with the laws of the State of New York.

IN WITNESS WHEREOF, the undersigned has set his hand this day of , 20 .

WITNESS:

Signature:

Name:

Soc. Sec. No.:

Address:

INDIVIDUAL ACKNOWLEDGMENT

STATE OF NEW YORK )

  ) ss.:

COUNTY OF NEW YORK )

On the day of in the year before me, the undersigned, a Notary Public in and for said State, personally appeared , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is(are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

Notary Public:

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What the Good Guy Guaranty Is and When It’s Used

A Good Guy Guaranty is a limited personal guaranty typically used in commercial lease transactions where an individual (often a principal or manager) guarantees tenant obligations only while they occupy the premises and remain in compliance with the lease. The guarantor agrees to pay unpaid rent and cure defaults if the tenant abandons the premises or otherwise breaches, but the guaranty commonly terminates once the guarantor has vacated and returned possession in a condition that permits immediate re-renting. This instrument allocates risk between landlord and tenant by capping the guarantor’s continuing exposure and is most common in multi-tenant retail, office, and light industrial leases.

Purpose and practical advantages of a Good Guy Guaranty

The Good Guy Guaranty narrows guarantor exposure compared with an unlimited guaranty, making it easier for principals to secure leases while giving landlords a contractual pathway to recover unpaid rent if a tenant abandons. It clarifies landlord remedies, shortens re-leasing timelines, and can facilitate deals where business tenants lack long credit histories.

Purpose and practical advantages of a Good Guy Guaranty

Typical parties and roles that complete or rely on this guaranty

Who signs and why: parties include commercial landlords, tenant principals, property managers, and brokers who negotiate lease credit terms.

  • Landlords and property managers use the Good Guy Guaranty to secure a remedy against short-term abandonment while preserving re-leasing flexibility.
  • Tenant principals (owners or officers) sign to provide limited personal assurance that rent and obligations will be met during occupancy.
  • Brokers and legal counsel advise on clause language to balance enforceability with acceptable guarantor exposure.

The document should be routed to legal counsel for both sides when possible to confirm that guarantee scope, vacatur conditions, and cure rights reflect the negotiated deal.

Essential clauses and structure to include in a professional Good Guy Guaranty

A clear, enforceable Good Guy Guaranty contains defined triggering events, a limited duration or termination clause tied to vacatur, specific monetary limits, notice and cure procedures, and signatures with authentication. Each element reduces ambiguity about when the guarantor remains liable and when liability ends.

Parties

Identify landlord, tenant, and guarantor by full legal name and business entity type.

Scope of Guarantee

Specify obligations covered (rent, utilities, damage, fees) and any excluded liabilities.

Good Guy Condition

Define vacatur and turn-key condition required for guaranty termination, including surrender procedures.

Monetary Cap

State any dollar cap or formula limiting guarantor exposure, if applicable.

Notice and Cure

Detail landlord notice requirements and the cure period before guarantor liability accrues.

Execution Details

Include date, signature blocks, witness or notary lines if required, and governing law clause.

Required information and key fields to collect

Guarantor Name: Full legal name
Guarantor Address: Street, city, state, ZIP
Tenant Entity: Legal business name
Landlord Name: Legal owner or manager
Effective Date: MM/DD/YYYY
Governing Law: State selected for contract interpretation

Step-by-step: completing the Good Guy Guaranty

Follow these sequential steps to prepare, review, and execute the guaranty to reduce drafting errors and ensure enforceability.

  • 01
    1. Draft core terms: Define scope, cap, vacatur condition
  • 02
    2. Confirm party identities: Match legal names and entity types
  • 03
    3. Review notice periods: Set landlord notice and tenant cure windows
  • 04
    4. Execute with authentication: Sign, date, and notarize if required

Customizing and completing the Good Guy Guaranty online

Set up a digital workflow that captures required fields, enforces required signatures, and records an audit trail for future enforcement needs.

Field Configuration
Guarantor Name Required text field; validation for full name
Effective Date Date field formatted MM/DD/YYYY
Vacatur Checkbox Conditional field that reveals vacatur checklist
Signature Field Legal signature with timestamp and audit trail

Where to send and how to route the completed guaranty

Identify destination parties and establish routing to collect signatures in the correct order and to preserve evidence of consent.

  • Upload: Sender uploads final draft to the signing platform
  • Assign Signers: Add guarantor, tenant rep, and landlord contacts
  • Authenticate: Choose signer verification (email, SMS, or higher)
  • Distribute Copies: Automatically send executed PDF and audit trail

Digital signing and technical distribution considerations

Use an eSignature platform that supports legal audit trails, document retention, and integrations with your document storage systems.

  • File formats: PDF, DOCX accepted for upload
  • Integrations: Salesforce, Microsoft 365, NetSuite, Google Workspace
  • Security: TLS and AES-256 encryption

Ensure the platform can produce a Certificate of Completion (audit trail), allow conditional fields, and, if required, support a BAA for HIPAA-covered parties.

Timelines, deadlines, and expected processing steps

Plan execution timing around key dates: lease commencement, rent commencement, and any notice or cure periods specified in the guaranty and lease.

Effective Date:

Matches guaranty and lease start (MM/DD/YYYY)

Notice to Guarantor:

As specified; often 10–30 days for cure

Vacatur Cure Period:

Days allowed to restore premises per lease

Document Retention:

Keep executed copy for at least 3 years

Re-leasing Window:

Landlord may mitigate damages immediately on vacatur

Common mistakes to avoid when preparing a Good Guy Guaranty

  • Using informal or ambiguous vacatur language that leads to disputes over whether the guaranty terminated
  • Failing to match guarantor’s legal name with government or corporate records, complicating enforcement
  • Omitting notice and cure procedures, which can invalidate recovery steps or extend litigation
  • Not documenting the turnover condition (keys, final meter readings, cleanout), creating factual disputes

Risks and legal consequences of drafting errors or incomplete execution

Invalid Guaranty: Mistaken identity or missing signature may render the guaranty unenforceable
Extended Liability: Vague termination language can leave guarantor liable after vacatur
Mitigation Failures: Landlord’s failure to mitigate damages can reduce recoverable amounts
Notary Omissions: Where law or parties require notarization, omission may delay enforcement
Data Retention Gaps: Poor recordkeeping undermines proof of signature and notice
Jurisdiction Disputes: Incorrect governing law choice may complicate remedies

eSignature vendor comparison for executing the Good Guy Guaranty

Compare common vendor pricing and feature points relevant to document signing workflows; signNow appears first in the table per platform conventions.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Yes Yes Yes Yes
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No envelope cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Real-world examples of Good Guy Guaranty use

Two concise examples illustrate typical drafting choices and outcomes in commercial leasing.

Optica Ventures Example

A small retail tenant used a Good Guy Guaranty to secure a five-year lease while limiting owner exposure to rent through the surrender of premises clause.

  • The guaranty terminated on verified vacatur and landlord re-rented within 30 days.
  • Result: landlord recovered unpaid rent for the holdover month, but the guarantor avoided ongoing liability once the unit was re-rented, aligning risk and facilitating the original lease approval.

Martin Properties Example

A regional landlord required a limited guaranty from a startup founder to approve a long-term lease in a shopping center.

  • The guaranty included a precise vacatur checklist and short cure period.
  • Result: when the tenant defaulted and vacated, the checklist established clear facts for termination and facilitated timely mitigation and re-leasing without protracted litigation.

Practical tips for accurate, efficient guaranty completion

Adopt consistent drafting, verification, and recordkeeping habits to reduce disputes and support enforcement.

Use plain, specific vacatur language
Define exactly what returning possession means (keys, removal of belongings, final meter readings) to reduce factual disputes at termination.
Match legal names
Use the guarantor’s government ID or corporate formation documents to ensure enforceability and simplify collections or credit checks.
Document notices and cures
Preserve copies of notices, delivery receipts, and timestamps; these records matter if the guaranty is enforced.
Consider limited scope
Where possible, limit guarantor liability to a defined cap or time period to facilitate deal approval and minimize personal exposure.

Frequently asked questions about Good Guy Guaranties

Answers to common legal and execution questions to help parties avoid routine errors before signing.


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