Common use of GUARANTOR'S LIABILITY Clause in Contracts

GUARANTOR'S LIABILITY. In consideration of the execution and delivery of this Tenancy Agreement by the Landlord, the Guarantor, as principal debtor, agrees to execute an agreement made collateral to this Tenancy Agreement which, upon execution by the Guarantor and the Landlord, shall be deemed to constitute a part of and be incorporated into this Tenancy Agreement with the Guarantor deemed to be a party this Tenancy Agreement. The guarantor further agrees that liability under the guarantee shall continue until such time as this Tenancy Agreement is terminated and the guarantor continues to be liable and bound by this Guarantee during any renewals and extensions, statutory or otherwise, of the term of this Tenancy Agreement.