A lease provision — common in New York — that limits a guarantor's liability to the period during which the tenant actually occupies the premises, releasing the guarantor once the tenant vacates and surrenders possession with proper notice.
Good guy clauses offer a middle ground between full-term personal guaranties (which expose principals to unlimited lease liability) and no guaranty. Under a good guy clause, the guarantor remains liable for rent and obligations accruing until the tenant vacates and delivers the keys per the lease's surrender requirements — typically with 60–90 days' notice. After proper surrender, the guarantor is released from future rent obligations. This gives landlords a motivated guarantor through the occupancy period while giving tenants' principals an exit from open-ended personal exposure. Good guy clauses are standard in retail and restaurant leases in New York and increasingly common nationally.
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