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Canadian Legal Forms > Guarantees > Guarantee by Parent of Debt of Subsidiary
Guarantee by Parent of Debt of Subsidiary
This form provides for a guarantor for the repayment of a debt. More specifically, this is a guarantee whereby a parent corporation will guarantee the purchase of a third party business by its subsidary. This guarantor is, in effect, a
co-signer for the obligation. The guarantor (the parent) agrees that if any of the payments or performances are not made by the subsidary, the parent will perform/pay such obligations. The guarantor also agrees that the guarantee may be enforced without having to first exhaust all other remedies against the borrower. A mere default by the borrower without any court action will suffice to require the guarantor to make good on the obligation.See form: Guarantee by Parent of Debt of Subsidiary
Note: Some forms not suitable for use in the province of Quebec. Check form details.
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