What Does It Mean to Be a ‘Good Guy’ and What’s It Really Going to Cost?

Last week, we took a look at the evolution of lease guaranties from full-blown general personal guaranties to the limited, now favored “good guy” guaranty. In a nutshell, a good guy guarantor stepped up to the plate to assure the landlord that the space would not be milked for rent, and the quid pro quo was that the guarantor could unilaterally control the end date of his obligations by taking care of tenants’ financial obligations through a new end date—an end date based on completion (at a minimum) of the following checklist: physical surrender of the premises, vacant and in reasonably satisfactory condition with the keys turned over to the landlord’s agent…[Read More…]

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