Continuing Guaranty (Genie AI)

The Continuing Guaranty (Genie AI) under USA law is a legal template that outlines the terms and conditions of a guarantor's ongoing responsibility for a debtor's obligations. A guarantor is an individual or entity who agrees to take on the debt and fulfill the obligations of the borrower in the event of default or non-payment. This document specifies the extent of the guarantor's liability, the duration of the guaranty, and the conditions under which it may be terminated. It also covers provisions related to the guarantor's consent, waiver of rights and defenses, enforcement procedures, and any applicable legal jurisdictions. The Continuing Guaranty (Genie AI) template serves as a reliable and comprehensive legal tool to establish a legally binding agreement between the debtor, creditor, and guarantor, ensuring all parties are aware of their rights and obligations pertaining to the guarantee of the debt.