“Burn-Off” Guaranties in Commercial Leases: How (and When) a Personal Guaranty Can Expire
In many commercial leasing transactions—particularly those involving emerging or closely held tenants—a landlord’s willingness to enter into a lease is tied directly to the credit support behind the tenant’s obligations. For small and middle-market operators leasing...
Lease Guaranties: Understanding Their Role and Key Considerations in Commercial Real Estate Leases
A lease guaranty involves a third party, known as the guarantor, committing to fulfill the tenant's obligations under the lease if the tenant defaults. Guaranties help provide credit support for tenants that may not otherwise have the financial wherewithal on...