Guaranty of Nonrecourse Carveout Obligations (Pro-Lender) | Practical Law
A form loan guaranty that secures a borrower's loan obligations after the borrower triggers recourse liability under an otherwise nonrecourse commercial real estate 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.