Security & Collateral · glossary
A promise to pay another person's debt if that person does not. Tooling guarantees the Company's loan, but if Tooling failed the Bank would rank equally with Tooling's other unsecured creditors. The family refused personal guarantees, and the Bank accepted. Definition: Guarantor · Chapter 1 · Chapter 7
Explained in Chapter 1, What Security Is For, of Security & Collateral.
The main page for this term is Guarantee (and guarantor), in Finance Deals & Syndicated Lending.
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Security & Collateral and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
Marlow Tooling Limited, incorporated in England and Wales with registered number 07455120, a wholly-owned subsidiary of the Company and the guarantor under the Facility Agreement;Read the definition in the document →
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