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TXR 2124 — Commercial Sublease Guaranty

Provides a third-party guarantee of the sublessee's performance under a commercial sublease. The guarantor becomes personally liable for the sublessee's payment obligations, property damage, and any breach of the sublease, giving the sublessor additional financial security beyond just the sublessee'

Source: TXR
Form Number: 2124
Category: Other
Revised: April 1, 2018

Used For

COMMERCIAL_LEASING

Form Outline

The TXR 2124 form is organized into the following sections:

  1. Sublease Identification
    Links the guaranty to a specific sublease by identifying the property address, sublessor, and sublessee.
  2. Guarantee of Performance
    Establishes the core guarantee obligation where the guarantor agrees to back the sublessee's full performance under the sublease in exchange for the sublessor agreeing to sublease.
  3. Payment and Damage Obligations
    Details the guarantor's specific obligations: make payments when the sublessee defaults, cover property damage, and either cure breaches or compensate for losses.
  4. Scope and Survival of Guaranty
    Makes the guaranty permanent and unconditional, surviving all sublease changes, binding heirs and successors, and surviving the sublessee's bankruptcy.
  5. Governing Law and Attorney's Fees
    Establishes Texas law as governing law and provides that the prevailing party in any lawsuit recovers attorney's fees.
  6. Credit Report Authorization
    Gives the sublessor permission to pull credit reports and verify the guarantor's financial standing through third-party inquiries.
  7. Financial Information Disclosure
    Requires the guarantor to provide updated financial statements (balance sheet and income statement) within 30 days of request, limited to once per year.
  8. Special Provisions
    Open text section for any additional terms, limitations, or conditions to the guaranty.
  9. Guarantor Signatures
    Execution section for up to two guarantors with full identification including SSN/Tax ID, contact information, and witness signatures.

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