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COMMERCIAL LEASE
ANNEXURE D
DRAFT
[BANK LETTERHEAD]
BANK GUARANTEE
To:
GROWTHPOINT PROPERTIES LIMITED, Registration Number
Ground Floor, The Place, 1 Sandton Drive, Sandton, 2196
(hereinafter referred to as “the Landlord”)
LETTER OF GUARANTEE NUMBER _____________________ FOR THE SUM OF R
ON BEHALF OF ___________________________________________________________________
1.
We, ______________________________ (“the Bank”), advise that we are holding the sum of R
(“the Guaranteed Amount”) on behalf of (“the Tenant”), at the disposal of GROWTHPOINT
PROPERTIES LIMITED (“the Landlord”), for any failure by the Tenant to fulfill any of the terms and
conditions of the lease agreement in respect of the premises situated at
(“the Lease
Agreement”), as well as the insolvency or liquidation of the Tenant, and agree that the
Guaranteed Amount will be paid to the Landlord, unconditionally, upon receipt by the Bank of a
first written demand.
2.
The Bank’s liability under this guarantee is principal in nature, and shall not be reduced, or in any
way be affected by any alteration of the terms of the Lease Agreement, or any other arrangements
made between the Landlord and the Tenant.
3.
The Bank will pay on demand, and will not determine the validity of the correctness of the amount
demanded, or become party to any claim or dispute of any nature, which any party may allege.
4.
This guarantee is neither negotiable, nor transferable, save in the event that the premises
referred to above which is the subject of this guarantee, are sold, in which event this guarantee
may be transferred to the new owner of such Property and is restricted to the payment of a sum of
money only, and the Bank’s total liability will not exceed the Guaranteed Amount.
5.
This guarantee will expire on
being 3 (three) months after the expiry of the lease (“the Expiry
Date”). After the Expiry Date this guarantee shall be null and void, whether returned to the Bank
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COMMERCIAL LEASE
ANNEXURE D
for cancellation or not. Any claim which arises or demand for payment received after the Expiry
Date shall be invalid and unenforceable.
6.
The cancellation of, or any change to the terms and/or conditions of this guarantee, must first be
agreed to in writing by the Lessor, the Lessee and the Bank.
7.
The Bank hereby renounces the benefit of the exceptions of excussion and division which might be
pleaded against the validity of this guarantee and hereby acknowledges that the full force and
effect of these renunciations are fully known to the Bank.
8.
The Bank accepts that the Landlord’s address reflected above, is the Landlord’s domicilium citandi
et executandi for all purposes in connection with this guarantee.
9.
Any notice sent by the Bank to the Landlord in terms of this guarantee must be sent by registered
mail or hand-delivered to the Landlord’s chosen domicilium citandi et executandi, marked for the
attention of the Credit Manager.
10.
This guarantee shall be governed by South African Law and be subject to the jurisdiction of South
African Courts.
SIGNED at _________________________________ on this ______________ day of ________________________________.
________________________________
____________________________
……………………………………………………………,
…………………………………………………….,
who warrants that he/she is duly authorised
who warrants that he/she is duly authorised
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