Guaranty of Nonrecourse Carveout Obligations (Pro-Lender)
A form loan guaranty securing specific borrower obligations under a commercial real estate loan. Certain loan defaults trigger recourse liability under an otherwise nonrecourse loan. In this Standard Document, the guarantor guarantees payment of the obligations and liabilities under the loan documents to the extent they are fully or partially recourse to the borrower. This Standard Document favors the lender but has integrated notes with important explanations and negotiating tips for borrowers and guarantors.
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