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A Lease Guarantee Agreement becomes necessary when a landlord requires additional security for a lease, typically when a tenant's financial standing alone is insufficient. The agreement, governed by English and Welsh law, details the scope of the guarantee, the triggering events, and the extent of the guarantor's liability. It's particularly common in commercial leases where the tenant is a new or small business, or where the lease value is substantial. The document must comply with specific statutory requirements and recent case law developments in England and Wales.

1. Parties: Identification of guarantor, landlord, and tenant (if applicable)

2. Background: Details of the underlying lease and circumstances requiring guarantee

3. Definitions: Key terms used throughout the agreement including 'Lease', 'Guaranteed Obligations', 'Property'

4. Guarantee and Indemnity: Core obligations of the guarantor, including primary guarantee and indemnity provisions

5. Duration: Term of the guarantee and when obligations commence and cease

6. Preservation of Guarantee: Circumstances under which guarantee remains valid despite changes to underlying lease

7. Guarantor Restrictions: Limitations on guarantor's rights of subrogation and contribution