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Commercial Guaranty Agreement

Commercial Guaranty Agreement Template for Ireland

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Key Requirements PROMPT example:

Commercial Guaranty Agreement

"Need to draft a Commercial Guaranty Agreement under Irish law where our parent company (TechGlobal Holdings Ltd) will guarantee a €5 million business loan for our Irish subsidiary (TechGlobal Ireland Operations Ltd), to be effective from March 1, 2025."

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Document background
The Commercial Guaranty Agreement is a crucial document in Irish commercial transactions, used when one party needs to provide additional security for another's obligations. This agreement is particularly relevant in business lending, property transactions, and corporate finance arrangements under Irish law. The document must comply with Irish statutory requirements, including the Statute of Frauds (Ireland) 1695, and typically includes comprehensive details about the guaranteed obligations, conditions for enforcement, and the extent of the guarantor's liability. Commercial Guaranty Agreements are commonly used in scenarios where lenders require additional security beyond the principal debtor's covenant, such as parent company guarantees for subsidiaries, director's guarantees for company obligations, or third-party guarantees in complex commercial transactions.
Suggested Sections

1. Parties: Identification of the Guarantor, Creditor, and Principal Debtor

2. Background: Context of the guarantee, including the underlying obligations being guaranteed

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Guarantee and Indemnity: Core guarantee obligations and indemnification provisions

5. Scope of Guarantee: Extent and limitations of the guaranteed obligations

6. Duration and Continuing Security: Term of the guarantee and its continuing nature

7. Guarantor's Representations and Warranties: Statements of fact and assurances from the Guarantor

8. Preservation of Rights: Creditor's rights preservation and waiver of defenses

9. Payments and Interest: Payment terms, interest calculations, and payment mechanics

10. Costs and Expenses: Allocation of costs related to the guarantee

11. Enforcement: Circumstances and procedures for guarantee enforcement

12. Notices: Communication requirements and contact details

13. Assignment and Transfer: Rights and restrictions regarding transfer of guarantee obligations

14. Governing Law and Jurisdiction: Specification of Irish law governance and jurisdictional matters

Optional Sections

1. Security: Include when the guarantee is secured by specific assets

2. Corporate Authorizations: Include when the Guarantor is a corporate entity

3. Financial Covenants: Include when specific financial conditions must be maintained

4. Currency Provisions: Include for cross-border transactions involving multiple currencies

5. Tax Gross-Up: Include when tax implications need to be addressed

6. Multiple Guarantors: Include when there are multiple guarantors with joint/several liability

7. Subordination: Include when the guarantee needs to be subordinated to other obligations

8. Change of Control: Include when guarantee terms may be affected by ownership changes

Suggested Schedules

1. Schedule 1 - Guaranteed Obligations: Detailed description of the obligations being guaranteed

2. Schedule 2 - Guarantee Limitations: Specific limitations or caps on the guarantee amount

3. Schedule 3 - Form of Demand: Template for making demands under the guarantee

4. Schedule 4 - Security Details: Details of any security provided (if applicable)

5. Schedule 5 - Corporate Authorizations: Copies of relevant corporate approvals

6. Appendix A - Payment Mechanics: Detailed payment procedures and bank account details

7. Appendix B - Compliance Certificate: Form for periodic certification of compliance with guarantee terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





























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Relevant Industries

Banking and Financial Services

Commercial Real Estate

Manufacturing

Retail

Technology

Construction

Infrastructure

Healthcare

Hospitality

Transportation and Logistics

Energy

Professional Services

Agriculture

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Secretariat

Credit Control

Commercial Operations

Business Development

Corporate Governance

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Secretary

Risk Manager

Credit Manager

Commercial Director

Treasury Manager

Contracts Manager

Business Development Director

Company Director

Corporate Lawyer

Banking Relationship Manager

Financial Controller

Compliance Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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