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Joint Guarantee Agreement
"I need a Joint Guarantee Agreement under Hong Kong law for three individual guarantors to jointly guarantee a HKD 5 million business loan to a technology startup company, with the guarantee period starting from March 1, 2025."
1. Parties: Identification of the guarantors, creditor, and principal debtor
2. Background: Context of the guarantee, reference to the principal agreement or facility being guaranteed
3. Definitions and Interpretation: Key terms used in the agreement and rules for interpretation
4. Guarantee and Indemnity: Core guarantee obligations and indemnity provisions
5. Joint and Several Liability: Provisions establishing joint and several liability among guarantors
6. Scope of Guarantee: Extent of guaranteed obligations and any limitations
7. Continuing Security: Confirmation that the guarantee is continuing and covers all obligations
8. Representations and Warranties: Guarantors' confirmations regarding capacity, authority, and understanding
9. Preservation of Rights: Creditor's rights preservation and independence from other security
10. Payments: Payment obligations, mechanics, and currency provisions
11. Discharge and Release: Conditions for discharge of guarantee obligations
12. Expenses and Indemnity: Cost allocation and indemnification obligations
13. Notices: Communication procedures and contact details
14. Governing Law and Jurisdiction: Hong Kong law as governing law and jurisdiction provisions
1. Security Provisions: Required when guarantors provide additional security for their obligations
2. Subordination: Needed when there are multiple creditors or inter-creditor arrangements
3. Interest Provisions: Detailed interest terms when specific interest arrangements apply
4. Set-off Rights: Specific set-off provisions when parties have multiple relationships
5. Assignment and Transfer: Required when transfer rights need to be specifically addressed
6. Information Covenants: When ongoing information requirements are imposed on guarantors
7. Tax Gross-up: Required when tax implications need specific addressing
8. Currency Indemnity: Needed for cross-border transactions with currency exposure
1. Schedule 1 - Guaranteed Obligations: Detailed description of the obligations being guaranteed
2. Schedule 2 - Guarantor Information: Detailed information about each guarantor including addresses and notice details
3. Schedule 3 - Principal Agreement: Copy or key terms of the underlying agreement being guaranteed
4. Schedule 4 - Guarantee Limit: If applicable, specific limits on guarantee amounts for each guarantor
5. Schedule 5 - Security Details: If applicable, details of any security provided by guarantors
6. Appendix A - Form of Demand: Standard form for making demands under the guarantee
7. Appendix B - Compliance Certificates: Standard forms for any required compliance certificates
Authors
Business Day
Creditor
Default Interest
Default Rate
Demand
Enforcement Action
Event of Default
Finance Documents
Financial Indebtedness
Guarantee Period
Guaranteed Obligations
Guarantors
Hong Kong
Insolvency Event
Interest Period
Joint Guarantors
Liability
Loss
Material Adverse Effect
Obligors
Outstanding Amount
Party/Parties
Payment Currency
Principal Agreement
Principal Debtor
Principal Obligations
Recovered Amount
Recovery
Relevant Documents
Security
Security Interest
Several Liability
Specified Currency
Tax
Working Day
Indemnity
Joint and Several Liability
Payment Obligations
Representations and Warranties
Continuing Security
Principal Debtor Obligations
Default
Enforcement
Set-off
Currency
Assignment
Amendments
Waiver
Severability
Further Assurance
Notices
Costs and Expenses
Limitation of Liability
Release and Discharge
Contribution
Subrogation
Withholding Tax
Confidentiality
Force Majeure
Entire Agreement
Counterparts
Governing Law
Jurisdiction
Banking
Financial Services
Real Estate
Construction
Manufacturing
Retail
Import/Export
Shipping
Professional Services
Technology
Telecommunications
Healthcare
Education
Legal
Finance
Treasury
Credit Risk
Compliance
Commercial
Corporate Finance
Company Secretarial
Banking Operations
Risk Management
Legal Counsel
Chief Financial Officer
Finance Director
Credit Manager
Risk Manager
Compliance Officer
Commercial Director
Treasury Manager
Banking Relationship Manager
Corporate Finance Manager
Company Secretary
Senior Legal Manager
Transaction Manager
Security Trustee
Facility Agent
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