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Promissory Note Guaranty

Promissory Note Guaranty Template for Ireland

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Key Requirements PROMPT example:

Promissory Note Guaranty

"I need a Promissory Note Guaranty under Irish law where my company acts as guarantor for a €500,000 promissory note issued by our subsidiary to a bank, with the guarantee becoming effective from March 1, 2025, and including provisions for multiple co-guarantors."

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Document background
A Promissory Note Guaranty is a crucial financial security instrument used when additional assurance is required for a promissory note obligation. This document is typically employed in situations where a creditor seeks extra protection beyond the principal debtor's promise to pay, particularly in commercial lending, real estate transactions, or corporate finance arrangements. Under Irish law, the guarantee must comply with specific formal requirements, including written form as per the Statute of Frauds (Ireland) 1695. The document details the guarantor's obligations, enforcement mechanisms, and conditions for liability, providing a clear framework for all parties involved. It's especially relevant in business transactions where the creditworthiness of the principal debtor alone may not satisfy the creditor's risk assessment criteria.
Suggested Sections

1. Parties: Identification of all parties: Guarantor(s), Creditor/Beneficiary, and Principal Debtor

2. Background: Context of the guarantee, including reference to the underlying promissory note and its key terms

3. Definitions: Key terms used throughout the document, including 'Guaranteed Obligations', 'Event of Default', etc.

4. Guarantee and Indemnity: Core guarantee provisions, including scope of guaranteed obligations and nature of guarantor's liability

5. Guarantor's Representations and Warranties: Statements regarding guarantor's capacity, authority, and financial condition

6. Payment Terms: Specifics of when and how payments must be made under the guarantee

7. Enforcement: Circumstances and procedures for enforcing the guarantee

8. Continuing Security: Clause establishing the guarantee as continuing security until full discharge

9. Discharge and Release: Conditions under which the guarantor may be discharged from obligations

10. Notices: Requirements for giving valid notices under the guarantee

11. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for disputes

Optional Sections

1. Multiple Guarantors: Additional provisions for joint and several liability when there are multiple guarantors

2. Security Provisions: Where specific assets are provided as additional security for the guarantee

3. Assignment and Transfer: Rights to assign or transfer the guarantee, if permitted

4. Costs and Expenses: Allocation of costs related to preparation and enforcement

5. Currency Provisions: Required when guaranteed obligations are in foreign currency

6. Limitation of Liability: Where guarantor's liability is to be capped or limited in specific ways

7. Consumer Protection Provisions: Required when guarantor is a consumer under Irish law

Suggested Schedules

1. Schedule 1 - Form of Demand: Template for making formal demand under the guarantee

2. Schedule 2 - Copy of Promissory Note: Copy of the underlying promissory note being guaranteed

3. Schedule 3 - Security Details: Details of any security provided (if applicable)

4. Schedule 4 - Guarantor Information: Detailed information about guarantor(s) including contact details

5. Appendix A - Payment Schedule: If payments are to be made according to a specific schedule

6. Appendix B - Compliance Certificate: Form of certificate confirming continuing compliance with guarantee terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





































Clauses






























Relevant Industries

Financial Services

Banking

Real Estate

Commercial Lending

Investment Services

Corporate Finance

Private Equity

Asset Management

Construction

Manufacturing

Relevant Teams

Legal

Finance

Risk Management

Treasury

Compliance

Credit Analysis

Corporate Banking

Commercial Lending

Investment

Business Development

Relevant Roles

Legal Counsel

Finance Director

Credit Risk Manager

Commercial Director

Treasury Manager

Chief Financial Officer

Corporate Lawyer

Compliance Officer

Financial Controller

Credit Officer

Business Development Manager

Investment Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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