Guaranty Agreement - Template, Sample Form to Complete

Guaranty Agreement

State of Alabama

This Guaranty Agreement, hereinafter referred to as the "Guaranty" is made effective as of ________ by and between the following parties:

________ (the "Guarantor") having a primary address as follows:

________

and

________ (the "Debtor") having a primary address as follows:

________

and

________ (the "Creditor") having a primary address as follows:

________

The Guaranty is being made by the Guarantor to the Creditor for the benefit of the Debtor.

Article 1 - GUARANTY:

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Article 2 - LIMITATION:

The amount guaranteed by the Guarantor is limited to the following: $________. Such amount shall be exclusive of any fees, costs, or expenses which the Creditor may incur to collect on the guaranteed amount.

Article 3 - DURATION:

This is a continuing Guaranty which may not be revoked by the Guarantor. The Guaranty shall continue until all obligations are paid back to the Creditor.

Article 4 - DEFAULT:

In the event of Debtor's default, Creditor shall be required to notify Guarantor before proceeding against Guarantor for the limited amount guaranteed.

Article 5 - ADDITIONAL CREDIT:

Creditor shall be required to notify Guarantor in the event that any additional extensions of credit are made to the Debtor. Guarantor's liability shall continue to be for the limited amount guaranteed, unless the Guarantor otherwise authorizes in a signed writing.

Article 6 - CREDITOR TERMS:

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Article 7 - ALTERATIONS AND MODIFICATIONS:

Creditor may change the terms of repayment at any time. Creditor is not under an obligation to inform Guarantor. Guarantor's obligations shall continue to be as listed explicitly herein.

Article 8 - GUARANTOR'S FINANCES & ASSETS:

Creditor may make reasonable requests of Guarantor's financial information and Guarantor is obligated to provide such information.Guarantor shall not transfer any of Guarantor's assets without prior written consent of the Creditor.

Article 9 - SECURITY:

This Guaranty is secured by the following:

________

ARTICLE 10 - GENERAL PROVISIONS:

A) GOVERNING LAW: This Agreement shall be governed in all respects by the laws of the state of Alabama and any applicable federal law. Both Parties consent to jurisdiction under the state and federal courts within the state of Alabama. The Parties agree that this choice of law, venue, and jurisdiction provision is not permissive, but rather mandatory in nature.

B) LANGUAGE: All communications made or notices given pursuant to this Agreement shall be in the English language.

C) ASSIGNMENT: This Agreement, or the rights granted hereunder, may not be assigned, sold, leased or otherwise transferred in whole or part by either Party without express written consent.

D) AMENDMENTS: This Agreement may only be amended in writing signed by both Parties.

E) NO WAIVER: None of the terms of this Agreement shall be deemed to have been waived by any act or acquiescence of either Party. Only an additional written agreement can constitute waiver of any of the terms of this Agreement between the Parties. No waiver of any term or provision of this Agreement shall constitute a waiver of any other term or provision or of the same provision on a future date. Failure of either Party to enforce any term of this Agreement shall not constitute waiver of such term or any other term.

F) SEVERABILITY: If any provision of this Agreement is held to be invalid, illegal or unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be valid, legal and enforceable as though the invalid, illegal or unenforceable parts had not been included in this Agreement.

F) ENTIRE AGREEMENT: This Agreement constitutes the entire agreement between the Parties and supersedes any prior or contemporaneous understandings, whether written or oral.

G) NOTICES: Any notices required under this Guaranty may be made electronically to the email address the parties may, from time to time, inform each other of.

H) HEADINGS: Headings to this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement.

________

Signature: _________________________