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Personal Guarantee Settlement Agreement
"Need a Personal Guarantee Settlement Agreement under Singapore law to settle a $2.5M guarantee provided for a real estate development loan, with monthly installment payments over 24 months starting March 2025, including provisions for early settlement discount."
1. Parties: Identifies and defines all parties to the agreement including the guarantor, creditor, and debtor
2. Background: Sets out the context of the original guarantee, the outstanding obligations, and circumstances leading to settlement
3. Definitions: Defines key terms used tHRoughout the agreement including 'Guarantee', 'Settlement Sum', 'Payment Date'
4. Settlement Terms: Details of the settlement amount, payment terms, payment method, and timeline for settlement
5. Release Provisions: Terms of release from the original guarantee obligations upon satisfaction of settlement terms
6. Representations and Warranties: Standard representations regarding capacity, authority, and binding nature of agreement
7. Governing Law and Jurisdiction: Confirms Singapore law as governing law and jurisdiction for dispute resolution
1. Conditions Precedent: Conditions that must be met before settlement becomes effective, such as initial payments or document delivery
2. Security Provisions: Details of any security provided for settlement payments including type, registration, and enforcement
3. Confidentiality: Obligations regarding confidentiality of settlement terms and permitted disclosures
4. Tax Provisions: Allocation of responsibility for any taxes arising from the settlement
5. Further Assurance: Obligations to execute additional documents or take further steps to give effect to settlement
1. Schedule 1 - Original Guarantee: Copy of the original guarantee being settled
2. Schedule 2 - Payment Schedule: Detailed schedule of settlement payments if installment-based
3. Schedule 3 - Security Documents: Copies of any security documents if new security is being provided
4. Schedule 4 - Form of Release: Form of final release to be executed upon completion of settlement terms
Authors
Business Day
Completion Date
Creditor
Effective Date
Existing Guarantee
Guaranteed Obligations
Guarantor
Original Facility Agreement
Outstanding Amount
Parties
Principal Debtor
Release Date
Settlement Amount
Settlement Payment
Settlement Period
Singapore Dollars
Secured Obligations
Conditions Precedent
Default Event
Encumbrance
Interest Rate
Payment Schedule
Security
Security Documents
Working Day
Installment Payments
Late Payment Interest
Related Companies
Secured Assets
Specified Account
Acknowledgment of Existing Guarantee
Settlement Terms
Payment Obligations
Release and Discharge
Representations and Warranties
Conditions Precedent
Default
Remedies
Continuing Obligations
Confidentiality
Notices
Assignment
Amendments
Severability
Entire Agreement
Force Majeure
Governing Law
Jurisdiction
Security
Interest
Set-off Rights
Third Party Rights
Further Assurance
Costs and Expenses
Indemnification
Time of Essence
Counterparts
Waiver
Currency Conversion
Tax Provisions
Joint and Several Liability
Non-Competition
Anti-Money Laundering
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