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Guarantee repayment of the debt of another party with this Guaranty of Debt Obligation form for California. This form of Guaranty is typically given by the principals of a company to guarantee its indebtedness. The Guaranty is given unconditionally. The guarantors waive the benefit of any statute of limitations affecting their liability. The guarantors will repay the debt upon the dissolution, insolvency, bankruptcy, receivership or business failure of the debtor. The guarantors have no right of subrogation until the debt is paid in full. This California Guaranty of Debt Obligation form is available as a downloadable and fully editable MS Word template.