Request Release of Personal Guaranty

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Request Release of Personal Guaranty

Request Release of Personal Guaranty

{{company_name}}

{{company_address}}

{{phone}}

{{email}}

{{website}}

Date:

{{date}}

To:

{{lender_name}}

{{lender_address}}

Subject: Request for Release of Personal Guaranty - Account No. {{account_number}}

Dear Sir/Madam,

We refer to the loan facility agreement (the "Facility Agreement") dated {{agreement_date}} between {{company_name}} (the "Borrower") and {{lender_name}} (the "Lender"), concerning loan account number {{account_number}}. We further refer to the personal guaranty (the “Personal Guaranty”) provided by {{guarantor_name}} (the “Guarantor”), residing at {{guarantor_address}}, in favour of the Lender to secure the obligations of the Borrower under the Facility Agreement.

Background for Request

As per the terms of the Facility Agreement (specifically, clause {{relevant_clause_number}}), the Personal Guaranty was intended to be released upon the satisfaction of certain predefined conditions. We wish to inform you that these conditions have now been fully met. Specifically:

1. The outstanding principal balance of the loan facility has been reduced to {{outstanding_balance_amount}} ({{outstanding_balance_words}}) as at {{balance_date}}, which falls below the threshold for continued personal guarantee requirements as stipulated in the Facility Agreement.

2. The Borrower has maintained a satisfactory credit history and repayment record for a consecutive period of {{number_of_months}} months/years, demonstrating robust financial performance and stability.

3. All covenants and obligations under the Facility Agreement, apart from the full repayment of the facility, have been meticulously adhered to by the Borrower.

Request for Action

In light of the foregoing, we formally request the immediate release of the Personal Guaranty provided by {{guarantor_name}}. We kindly ask that you take the necessary steps to formally discharge the Guarantor from all future obligations under the Personal Guaranty.

We would appreciate it if you could provide us with written confirmation of the release of the Personal Guaranty, including any necessary legal documentation or endorsements, within {{number_of_days}} business days of the date of this letter.

Required Documentation (if applicable)

Please advise if any specific forms or additional documentation are required from our side or from the Guarantor to facilitate this release. We are prepared to furnish any such information promptly.

Contact Person

Should you require any further information or clarification, please do not hesitate to contact {{contact_person_name}} at {{contact_person_phone}} or {{contact_person_email}}.

Conclusion

Thank you for your prompt attention to this matter. We value our continued relationship with {{lender_name}}.

Sincerely,

Signature Block

_____________________________

{{authorised_signatory_name}}

{{authorised_signatory_title}}

For and on behalf of {{company_name}}

Date: _______________