SURETY AGREEMENT SAMPLE
Joint Suretyship Agreement
This Joint Suretyship Agreement (“Agreement”) is entered into between …………………………… (“Surety”) with T.R. ID number ………………… residing at ……………………………… and …………………………… with T.R. ID number ………………… residing at ……………………………… (“Creditor”), with a maturity of 729 days, floating interest rate, interest payment every 3 months, with an issue price of TL 25.000.000-, issued on 18.12.2014 by Beykoz Doğa Öğretim Yatırım ve Ticaret A.Ş. (“Borrower”), in which the Creditor invested, with the approvals of the Capital Markets Board dated 27.06.2014 and numbered 20/663. 2014 dated 27.06.2014 and numbered 20/663 and issued by Beykoz Doğa Öğretim Yatırım ve Ticaret A.Ş. (the “Borrower”) on 18.12.2014 with the approvals of the Capital Markets Board dated 27.06.2014 and numbered 20/663. 2016, with a maturity date of 18.12.2014 and a maturity date of 16.12.2016 (“Bond”), and which the Borrower has stated that it will fulfil on 28.12.2016 and 25.01.2017, and which arises from the principal payment of the bonds with ISIN code TRSBDOYA161616 (“Bond”).
The Surety hereby declares that he/she is jointly and severally surety for the Debtor’s Bond Debt and all obligations within this scope, up to the amount shown below in the signature section in the handwriting of the Surety and valid only until the Creditor releases him/her from his/her surety, The Borrower agrees, declares and undertakes that it will act in accordance with its publicly disclosed commitments in relation to the Bond that cannot be paid at maturity, and that this Agreement with the Creditor is without prejudice to the existing debts between the Borrower and the Creditor and does not lead to any postponement thereof in any way
The joint debtor and joint Surety agrees to pay the outstanding debt of the Debtor together with the default interest to be accrued until it is paid by the Debtor, and to pay the debt and its accessories, costs and attorney fees in cash and in lump sum. The joint debtor and joint Surety agrees that if the debt becomes due and payable for the Borrower for any reason whatsoever, the surety obligation shall become due and payable. In addition, in the event that the Creditor takes legal action against the undersigned joint debtor and joint surety in order to fulfil its rights under this Agreement, the joint debtor and joint surety hereby undertakes to pay all expenses incurred by the Creditor in connection with these proceedings, execution and court costs and the minimum legal attorney’s fees determined in the minimum attorney’s fee tariff in force on the date of the dispute.
The surety shall not, during the continuation of his/her suretyship, by way of collusion or by acknowledging debts that are not genuine, carry out transactions that would reduce his/her movable and immovable assets below the maximum amount for which he/she has become surety under the Agreement, destroy his/her assets, dispose of them with or without consideration, transfer and assign them to third parties, establish pledges, mortgages and similar real rights on them in favour of third parties, establish pledges, mortgages and similar real rights on them in favour of third parties, reduce their value, with the intention of causing loss to the Creditor; not to dispose of them with or without consideration, not to transfer and assign them to third parties, not to establish pledges, mortgages and similar rights in rem on them in favour of third parties, not to make any disposals in such a manner as to reduce their value and not to artificially diminish their availability.
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