This decision involved a commercial lease. Defendants included guarantors under a “good guy guarantee” (guarantors). Generally, a “good guy guarantee provides that the guarantor will be released from the guarantee if the tenant surrenders possession and is not in default of its obligations at the time of surrender.
The tenant had failed to pay rent and additional rent in August 2017. The landlord had commenced an eviction proceeding that resulted in a stipulation of settlement (stipulation). The stipulation provided that the tenant would vacate the premises on or before Oct. 31, 2017. The tenant vacated on Nov. 3, 2017.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]