Guarantee and Postponement of Claims

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This particular legal document or agreement of assignment is used to assist in articulating the terms of a guarantee and postponement of claims agreement. See other legal documents that you may be interested in at https://www.templateguru.co.za/templates/legal/

Excerpt:

GUARANTEE AND POSTPONEMENT OF CLAIMS AGREEMENT This Guarantee and Postponement of Claims Agreement (the Agreement) is effective [DATE] 1. GUARANTEED OBLIGATIONS The Guarantor irrevocably and unconditionally guarantees the due and punctual payment and performance of all debts liabilities and obligations (collectively the Guaranteed Obligations) of [name of debtor] (the Debtor) to the Creditor whenever however or wherever incurred and any ultimate unpaid balance thereof. 2. COSTS AND EXPENSES The Guarantor agrees to pay the Creditor upon demand all out-of-pocket costs and expenses (including without limitation legal fees on a solicitor and client basis) incurred by or on behalf of the Creditor in connection with enforcing any of its rights against the Debtor in respect of the Guaranteed Obligations or against the Guarantor.

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