Guaranty
Guaranty
FOR GOOD CONSIDERATON, and as an inducement for____________________
(Creditor), from time to time extend credit to ________________________
(Customer), it is hereby agreed that the undersigned does hereby guaranty to Creditor the
prompt, punctual and full payment of all monies now or hereinafter due Creditor from
Customer.
Until termination, this guaranty is unlimited as to amount or duration and shall remain
in full force and effect notwithstanding any extension, compromise, adjustment,
forbearance, waiver, release or discharge of any party obligor or guarantor, or release in
whole or in part of any security granted for said indebtedness or compromise or adjustment
thereto, and the undersigned waives all notices thereto.
The obligations of the undersigned shall be at the election of Creditor be primary and
not necessarily secondary and Creditor shall not be required to exhaust its remedies as
against Customer prior to enforcing its rights under this guaranty against the undersigned.
The guaranty hereunder shall be unconditional and absolute and the undersigned waive
all rights of subrogation and set-off until all sums under this guaranty are fully paid.
The undersigned further waives all suretyship defenses or defenses in the nature thereof,
generally.
In the event payments due under this guaranty are not punctually paid upon demand, then
the undersigned shall pay all reasonable costs and attorney's fees necessary for
collection, and enforcement of this guaranty.
If there are two or more guarantors to this guaranty, the obligations shall be joint
and several and binding upon and inure to the benefit of the parties, their successors,
assigns and personal representatives.
The guaranty may be terminated by any guarantor upon fifteen (15) days written notice
of termination, mailed certified mail, return receipt requested to the Creditor. Such
termination shall extend only to credit extended beyond said fifteen (15) day period and
not to prior extended credit, or goods in transit received by Customer beyond said date, or
for special orders placed prior to said date notwithstanding date of delivery. Termination
of this guaranty by any guarantor shall not impair the continuing guaranty of any remaining
guarantors of said termination.
Each of the undersigned warrants and represents it has full authority to enter into
this guaranty.
This guaranty shall be binding upon and inure to the benefit of the parties, their
successors, assigns and personal representatives.
This guaranty shall be construed and enforced under the laws of the state of
_______________________________.
Signed this_____ day of __________, 20____.
In the presence of:
______________________________ ______________________________
Witness Guarantor
______________________________ ______________________________
Witness Guarantor |
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More forms in this category:
Loans and Borrowing
Balloon Note
Demand Note
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Guaranty
Notice of Default in Payment
Pledge of Shares of Stock
Promissory Note
Receipt
Security Agreement
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