Authorised Guarantee Agreement For A New Lease (Standalone AGA)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🏚️ Authorised guarantee agreementBusiness activity
Lease a propertyAn authorised guarantee agreement is a contract between a company and its directors, in which the directors agree to indemnify the company for any losses it suffers as a result of their breach of duty. The agreement may also cover other types of losses, such as losses incurred as a result of the directors' negligence.
The purpose of this template is to establish and regulate the ongoing obligations and liabilities of the original tenant (assignor) towards the landlord, even after they have assigned their lease to a new tenant (assignee). The AGA acts as a guarantee that the assignor will remain liable for any rent arrears or breaches of the lease terms committed by the assignee during the span of the lease.
This standalone AGA can be utilized in situations where the landlord and the original tenant want to create a separate agreement for the guarantee, distinct from the original lease agreement. By executing this document, the parties can effectively protect the landlord's interests and ensure that the assignor retains liability throughout the lease term.
The template includes provisions clarifying the assignment process, rights and obligations of the assignor, consequences of default or breaches, indemnification clauses, and dispute resolution mechanisms. It should be noted that this template is tailored to comply with UK laws and regulations specifically related to lease assignments and guarantees.
Legal professionals and paralegals can utilize this template to draft an "Authorised Guarantee Agreement for a New Lease" to suit the specific circumstances of their clients, ensuring clarity, protection, and compliance for all parties involved.
How it works
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Book your personalised demo now
Similar legal templates
Takeover Schedule
Publisher
Genie AIJurisdiction
England and WalesStandard Sub-Contract Conditions For Building (With Sub-Contractor's Design)
This template is specifically designed for construction projects where the sub-contractor is also responsible for the design aspects of the work. It establishes the rights, obligations, and liabilities of both the main contractor and the sub-contractor, ensuring clarity and protection for all parties involved.
The template covers a wide range of important provisions, including the scope of work, project progress, quality of materials and workmanship, pricing and payment terms, insurance requirements, delays and extensions of time, intellectual property rights, dispute resolution mechanisms, and termination of the sub-contract.
The document is legally enforceable and ensures compliance with relevant UK laws and regulations pertaining to the construction industry. It serves as a crucial tool for establishing a professional and mutually beneficial relationship between the main contractor and the sub-contractor, providing a framework for collaboration, accountability, and successful project completion.
Publisher
Genie AIJurisdiction
England and WalesTest Engineer Contract
This Test Engineer contract template is designed for a commercial testing organisation (or an individual test engineer) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of testing and testing-related services to be completed by the test engineer on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the testing firm or individual test engineer on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).
