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Guarantee Lease Agreement Template for Ireland

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Key Requirements PROMPT example:

Guarantee Lease Agreement

"I need a Guarantee Lease Agreement under Irish law for a corporate guarantor backing a retail tenant's 10-year lease of a shopping center unit starting March 2025, with specific provisions for step-in rights and financial reporting requirements."

Document background
The Guarantee Lease Agreement serves as a critical risk mitigation tool in Irish commercial property transactions, providing landlords with additional security for tenant obligations. This document becomes necessary when a landlord requires extra assurance regarding a tenant's ability to fulfill lease obligations, typically in situations involving new businesses, companies with limited trading history, or significant lease commitments. The agreement, governed by Irish law, comprehensively details the guarantor's obligations, including terms for rent payment, property maintenance, and other lease covenants. It's particularly relevant in today's commercial property market where landlords seek to protect their interests while facilitating business growth. The document must comply with Irish property law, contract law, and relevant statutes, including the Land and Conveyancing Law Reform Act 2009 and the Landlord and Tenant (Amendment) Act 1980.
Suggested Sections

1. Parties: Identifies and defines the Landlord, Tenant, and Guarantor with their full legal names and addresses

2. Background: Recitals explaining the context of the lease and guarantee arrangement

3. Definitions: Defines key terms used throughout the agreement

4. Guarantee and Indemnity: Core section detailing the guarantee obligations and indemnity provisions

5. Scope of Guarantee: Specifies exactly what obligations are being guaranteed and any limitations

6. Duration of Guarantee: Defines the term of the guarantee and any continuation provisions

7. Guarantor's Obligations: Detailed list of the guarantor's specific obligations and responsibilities

8. Preservation of Guarantee: Circumstances under which the guarantee remains valid despite changes to the lease or parties

9. Payment Provisions: Details of how and when payments must be made under the guarantee

10. Landlord's Rights and Remedies: Outlines the landlord's rights in case of default or breach

11. Representations and Warranties: Statements of fact and promises made by the guarantor

12. Notices: Procedures for serving formal notices between parties

13. Governing Law and Jurisdiction: Confirms Irish law governs the agreement and jurisdiction for disputes

14. Execution: Signature blocks and execution formalities

Optional Sections

1. Step-In Rights: Optional provision allowing the guarantor to take over the lease in certain circumstances, typically included for corporate guarantees

2. Joint and Several Liability: Required when there are multiple guarantors

3. Corporate Guarantor Provisions: Specific provisions required when the guarantor is a company, including board approval warranties

4. Independent Legal Advice: Confirmation that individual guarantors have received independent legal advice, recommended for individual guarantors

5. Financial Reporting Requirements: Obligations for guarantors to provide regular financial information, often included for corporate guarantors

6. Guarantee Cap: Includes limitations on the guarantor's liability, if applicable

7. Assignment and Transfer: Provisions regarding the ability to assign or transfer the guarantee, if permitted

Suggested Schedules

1. Schedule 1 - The Lease: Copy or summary of the principal lease being guaranteed

2. Schedule 2 - Guaranteed Obligations: Detailed list of the specific obligations being guaranteed

3. Schedule 3 - Property Description: Detailed description of the leased property

4. Schedule 4 - Form of Notice: Standard forms for various notices under the guarantee

5. Schedule 5 - Corporate Authority: Corporate authorization documents (where relevant)

6. Appendix A - Guarantor's Details: Detailed information about the guarantor including financial standing

7. Appendix B - Payment Terms: Detailed payment mechanisms and bank account details

Authors

Alex Denne

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

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Relevant Industries

Real Estate

Commercial Property

Retail

Office Space

Industrial

Hospitality

Healthcare

Education

Manufacturing

Logistics

Warehousing

Technology

Professional Services

Banking and Finance

Legal Services

Relevant Teams

Legal

Real Estate

Property Management

Facilities

Risk Management

Finance

Operations

Corporate Services

Compliance

Asset Management

Relevant Roles

Property Manager

Real Estate Director

Legal Counsel

Commercial Property Lawyer

Facilities Manager

Asset Manager

Commercial Director

Risk Manager

Lease Administrator

Property Portfolio Manager

Chief Financial Officer

Company Secretary

Operations Director

Real Estate Investment Manager

Tenant Coordinator

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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