Other

TXR 2124 — Commercial Sublease Guaranty

Provides a third-party guarantee of the sublessee's performance under a commercial sublease. The guarantor (one or more) becomes personally liable for the sublessee's payment obligations, property damage, and any breach of the sublease (curing it or compensating the sublessor), regardless of any modification, amendment, renewal, extension or breach and despite the sublessee's bankruptcy; guarantors are jointly and severally liable, bind their heirs and assigns, are governed by Texas law with attorney's fees to the prevailing party, authorize credit reports and verification, and must provide current financial statements within 30 days of a request (no more than once every 12 months). Special provisions may be added. Each of up to two guarantors signs and dates the form with printed name, address, phone, fax, SS# or Tax ID#, and a witness line.

Source: TXR
Form Number: 2124
Category: Other
Revised: April 1, 2018

Used For

COMMERCIAL_LEASING

Form Outline

The TXR 2124 form is organized into the following sections:

  1. Guaranty to Commercial Sublease
    Links the guaranty to a specific sublease by identifying the property address, sublessor, and sublessee.
  2. Guarantee of Performance
    Establishes the core guarantee obligation where the guarantor agrees to back the sublessee's full performance under the sublease in exchange for the sublessor agreeing to sublease.
  3. Payment and Damage Obligations
    Details the guarantor's specific obligations: make payments when the sublessee defaults, cover property damage, and either cure breaches or compensate for losses.
  4. Scope and Survival of Guaranty
    Makes the guaranty permanent and unconditional, surviving all sublease changes, binding heirs and successors, and surviving the sublessee's bankruptcy.
  5. Governing Law and Attorney's Fees
    Establishes Texas law as governing law and provides that the prevailing party in any lawsuit recovers attorney's fees.
  6. Credit Report Authorization
    Gives the sublessor permission to pull credit reports and verify the guarantor's financial standing through third-party inquiries.
  7. Financial Information Disclosure
    Requires the guarantor to provide updated financial statements (balance sheet and income statement) within 30 days of request, limited to once per year.
  8. Special Provisions
    Open text section for any additional terms, limitations, or conditions to the guaranty.
  9. Guarantor Signatures
    Up to two Guarantors, side by side: Signature (e-sign), Printed Name, Address (two lines), Phone, Fax, SS# or Tax ID#, Date (stamped at signing) and Witness. The identification details are the Guarantor's own.

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