“I guarantee the full performance of the Lease by the Tenant. This Guarantee is absolute and without any conditions. … This guarantee will not be affected by any change in the Lease whatsoever, including, but not limited to any extension of time or renewals.” “The Guarantor further agrees that this guaranty shall remain and continue in full force and effect as to any renewal, change or extension of the Lease.”
Those were two ways in which two different landlord’s forms of guaranty were intended to give the landlord comfort that a guarantor would not weasel out of the guarantee based upon amendments, extensions, etc. to the guaranteed lease. They didn’t work.
What went wrong? Basically, including such language in a guarantee helps make the guarantee bullet-resistant, not bullet-proof. [Read more…]
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Landlord’s lien waivers deal with more than just the pure statement that a landlord waives its lien rights to, (or subordinates its lien rights against), the rights of a lender or of an equipment lessor. Certainly, those parties have a legitimate concern about the integrity of their collateral and their ability to sell the goods and equipment in place or to remove the collateral for sale elsewhere. For that reason, landlord lien waivers include, among other terms, provisions defining the personal property covered, waiving and subordinating liens, providing for storage or holdover, and dealing with removal. 
Our last posting brought out dozens of comments, representing a wide spectrum of views. Almost all responders noted the connection between letters of intent and the time it takes to get a deal done. Beyond that there was little consensus. So, we’ve had over 100 comments on that topic – getting the deal done faster – but no one yet has suggested a major reason. Ruminations has a suggestion – the people responsible for negotiating leases (especially) don’t seem to have a sense of urgency. 
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