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What does the following mean (found in the personal guaranty

Resolved Question:

What does the following mean (found in the personal guaranty section of a commercial lease)?:

The Undersigned waive(s) notice of any demand by the Landlord, as well as any notice of default in the payment of rent or any other amounts, contained or reserved in the Lease.

Thanks,
Brad
Submitted: 4 years ago.
Category: Business Law
Expert:  Law Girl replied 4 years ago.
Thank you for your question.

It sounds like pursuant to the personal guaranty section of the lease, the person who signed the lease agreed that the Landlord did not need to give notice of any demand the Landlord was making under the lease. This means that in the event payment was not made, or the terms of the lease were not met by the tenant, the Landlord did not need to give notice before taking action.

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Customer: replied 4 years ago.
So, is this something that I should agree to (as the Tenant)?

Thanks,
Brad
Expert:  Law Girl replied 4 years ago.
Not knowing your situation, I cannot tell you what to do. I can only provide information.

This is a standard provision. As the law does not really set a notice requirement in the event of default, this may be negotiable. If you are not comfortable with your Landlord not giving notice in the event of your Default, you can inquire about some sort of notice. However, whether this is something that you do really depends on your record-keeping, how you pay your bills, your financial situation, etc.

In the event that you promptly pay your bills consistently each month, this is probably a non-issue. However, if you are prone to be late, then you may try to negotiate for some sort of notice requirement.
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