Authorised guarantee agreement

This document is a draft authorised guarantee agreement (AGA). It contain provisions whereby an assigning tenant guarantees the obligations of the incoming tenant. It also includes provisions whereby the assigning tenant's own guarantor guarantees the obligations of the assigning tenant under this AGA. (However, read the drafting notes regarding the questionable validity of this).

The AGA is a free-standing document (i.e. not contained within a licence to assign). However, obviously, it is to be used in conjunction with the Property PSL licence to assign.

Before using this precedent document, it is advisable to read the drafting notes accompanying it. If you have any queries or comments about this document or the drafting notes, use the contact tab at the top of the page.