Commercial Lease Settlement Agreement

We believe it is self-evident that the parties negotiating the terms of a guarantee would be free to agree that a subsequent discharge of the underlying debt of a principal debtor would lead to the performance of the guarantor`s own obligations. But we see nothing in the case law or elsewhere that requires such a notion as a question of law. In other words, we do not see a legal deadlock for a surety to accept – as part of the negotiated terms of collateral – that its obligation to finance the underlying debt would survive a settlement of that debt between the principal debtor and the beneficiary of the guarantee. On the contrary, what the parties to a guarantee agree in this regard is merely a matter of contractual intent. Finally, “a guarantee is a contract “like all other contracts.” Federal Financial Co. Savage, 431 Mass. 834, 817 (2000), cited by Merchants Natl. Bank v. Stone, 296 Mass. 243, 250 (1936). Accordingly, “the liability of a surety must be examined, which expresses the obligation that is interpreted according to the usual rules of interpretation.” Natl Agricultural. Bank of Pittsfield v. Brennan, 295 Mass. 325, 327 (1936).

The liability of the surety under this guarantee is not through transactions, transactions or business between landlords and tenants that may lead to the termination of the lease, including, but not only to adjustments, compromises, deferrals, waivers, accounts, agreements, agreements and satisfaction. , or the exemption of tenant obligations from the lease, regardless of whether or not the surety receives notification of the lease, including, but not only, any accommodation, compromise, waiver, compensation, agreement, agreement and performance or dispenses of the tenant`s obligations under the tenancy agreement, whether or not the surety receives a notification of that contract , this commercial lease is entered into between [LESSOR] (“owner”) and [LESSEE] (“tenant”) with effect on the following date – [DATE EFFECTIVE]. The lessor hereby undertakes to lease the specified property to the tenant in accordance with the following conditions. For example, the contract may allow early termination of the lease with notice, for example. B 30 or 60 days` notice. In addition, it is important that you review your state`s commercial contract laws, as the owner of the commercial property may be legally required to mitigate the damage. An example of damaging damage would be that the landowner must search for a new tenant as soon as he or she has received an appropriate notification. If you have to terminate your commercial lease, you can do so if your situation meets one of these conditions: provided you have not decided to exclude your tenant`s rights (see above) and that they are protected as usual, your commercial lease will continue until it is terminated in a manner authorized by the 1954 Act.