Limited Guarantor Clause Samples
A Limited Guarantor clause defines the specific and restricted obligations of a guarantor in a contractual agreement. Typically, this clause limits the guarantor’s liability to certain amounts, time periods, or types of obligations, rather than making them responsible for all of the debtor’s commitments. For example, a guarantor might only be liable for a portion of a loan or only for obligations arising from a particular event. The core function of this clause is to clearly delineate and cap the guarantor’s exposure, thereby reducing risk and providing certainty for both the guarantor and the other parties involved.
Limited Guarantor. The Limited Guarantor is ____________.
Limited Guarantor. The signatory of the Member in the Agreement (“Guarantor”) personally guarantees to Workville the strict performance of and observance by all members of the Agreement and Terms and Conditions of this License. Guarantor agrees to waive all notices when Member is not paying their fee or not observing and complying with all of the provisions of this License. Guarantor agrees to be equally liable with Member so that Worville may ▇▇▇ Guarantor directly without first suing Member. The Guarantor further agrees that his guaranty shall remain in full effect even if the License is renewed, changed or extended in any way and even if Workville has to make a claim against Guarantor. Workville and Guarantor agree to waive trial by jury in any action, proceeding or counterclaim brought against the other on any matters concerning this License or the Guaranty.
Limited Guarantor. Limited Guarantor shall fail to comply with the Minimum Net Worth Requirement (as defined in the Limited Guaranty).