Personal guarantees for directors should be exceptional; lenders must seek undertakings barring any consideration received or paid. Guidelines require that personal guarantees of directors should not be taken routinely and only where genuinely warranted after appraisal; when management quality, managerial stake, viability and satisfactory financial position are established guarantees are ordinarily unnecessary, including for widely held or professionally managed companies. Guarantees may be appropriate for closely held concerns, to ensure continuity or controlled management changes, for unsecured advances to lower-rated public companies, for subsidiaries or companies with unsatisfactory finances, and where interlocking of funds exists. Where guarantees are obtained, lenders must secure undertakings prohibiting payment or receipt of any commission, brokerage, fees or other consideration, and include this as a specific facility condition.