A Tripartite Lease Agreement is a legally binding contract between three parties: the Lessor (the property owner), the Lessee (the person or entity renting the property), and the Guarantor (a third party who guarantees the performance of the Lessee under the lease).

The Tripartite Lease Agreement sets out the terms and conditions of the lease, including the rent amount, the duration of the lease, and the responsibilities of each party. It also includes the terms of the guarantee, such as the conditions under which the Guarantor will be responsible for the Lessee's obligations, and the limits of the Guarantor's liability.

The Tripartite Lease Agreement is commonly used in commercial real estate leases where the Lessee is a business and the Guarantor is a parent company or another third party. It is also used in situations where the Lessee has a poor credit history or insufficient assets to provide a guarantee on their own.

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