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Personal Guarantee Settlement Agreement
"Need a Personal Guarantee Settlement Agreement under Singapore law to settle a $2.5M guarantee provided for a real estate development loan, with monthly installment payments over 24 months starting March 2025, including provisions for early settlement discount."
1. Parties: Identifies and defines all parties to the agreement including the guarantor, creditor, and debtor
2. Background: Sets out the context of the original guarantee, the outstanding obligations, and circumstances leading to settlement
3. Definitions: Defines key terms used tHRoughout the agreement including 'Guarantee', 'Settlement Sum', 'Payment Date'
4. Settlement Terms: Details of the settlement amount, payment terms, payment method, and timeline for settlement
5. Release Provisions: Terms of release from the original guarantee obligations upon satisfaction of settlement terms
6. Representations and Warranties: Standard representations regarding capacity, authority, and binding nature of agreement
7. Governing Law and Jurisdiction: Confirms Singapore law as governing law and jurisdiction for dispute resolution
1. Conditions Precedent: Conditions that must be met before settlement becomes effective, such as initial payments or document delivery
2. Security Provisions: Details of any security provided for settlement payments including type, registration, and enforcement
3. Confidentiality: Obligations regarding confidentiality of settlement terms and permitted disclosures
4. Tax Provisions: Allocation of responsibility for any taxes arising from the settlement
5. Further Assurance: Obligations to execute additional documents or take further steps to give effect to settlement
1. Schedule 1 - Original Guarantee: Copy of the original guarantee being settled
2. Schedule 2 - Payment Schedule: Detailed schedule of settlement payments if installment-based
3. Schedule 3 - Security Documents: Copies of any security documents if new security is being provided
4. Schedule 4 - Form of Release: Form of final release to be executed upon completion of settlement terms
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