Common use of New Guarantor Clause in Contracts

New Guarantor. The Tenant will notify the Landlord within 20 Business Days if the Guarantor becomes Insolvent or any Guarantor being an individual (or if individuals any one of them) dies or lacks capacity for the purposes of section 2 of the Mental Capacity Act 2005. In any such case, if the Landlord requires, the Tenant will procure that within two months of such requirement some other person reasonably acceptable to the Landlord executes as a deed a guarantee in the terms of schedule 1 with such amendments as the Landlord reasonably requires.