Arrears to Bear Interest. If any amount, including, but not limited to the Prepaid Rent, owing by the Subtenant under this Sublease is not paid on the date on which it is due then it will bear interest at the Interest Rate compounded monthly from the date the sum is due until the date of the payment by the Subtenant, but this stipulation for interest will not prejudice or affect any other remedies of the Sublandlord under this Sublease or otherwise, or be construed to relieve the Subtenant from any default in making any payment at the time and in the manner specified in this Sublease.
Arrears to Bear Interest. 4.5.1. If Rent is not paid when it is due, then the Lessee will pay interest on the unpaid amount from the due date until the payment date. Interest is at the then prevailing minimum rate at which the Bank of Canada makes short-term advances to banks, plus 7%.
Arrears to Bear Interest. If Rent or any other sum owing to the Lessor or the First Nation by the Lessee under this Lease is not paid when it is due, then the Lessee will pay interest on the unpaid amount at the prime lending rate established by the Bank of Canada, calculated quarterly and compounded semi- annually, plus 5% per annum, from the date the Rent or sum is due until the date that the payment is received. This stipulation for interest will not prejudice or affect any remedies of the Lessor or the First Nation under this Lease or otherwise, or be construed to relieve the Lessee from any default in paying Rent or other sum at the time and in the manner specified in this Lease.
Arrears to Bear Interest. If Rent or any other sum owing to the Lessor or the Locatee by the Lessee under this Lease is not paid when it is due, then the Lessee will pay interest on the unpaid amount at the prime lending rate established by the Bank of Canada, calculated quarterly and compounded semi- annually, plus 5% per annum, from the date the Rent or sum is due until the date that the payment is received. This stipulation for interest will not prejudice or LEASE OF LOCATEE LANDS /Template Version 2019-02-13 affect any remedies of the Lessor or the Locatee under this Lease or otherwise, or be construed to relieve the Lessee from any default in paying Rent or other sum at the time and in the manner specified in this Lease.
Arrears to Bear Interest. If any amount owing by the Homeowner under this Agreement is not paid on the date on which it is due then in addition to any other rights and remedies of the Lessor, such unpaid amount will bear interest at the Interest Rate from the date the sum is due until the date of the payment by the Homeowner, but this stipulation for interest will not prejudice or affect any other remedies of the Lessor under this Agreement or otherwise, or be construed to relieve the Homeowner from any default in making any payment at the time and in the manner specified in this Agreement.
Arrears to Bear Interest. If Rent or First Nation Fees are not paid when due, or any other time interest is stipulated to be due, then the Lessee will pay the Lessor or the First Nation, as the case may be, interest on the unpaid amount at the prime lending rate established by the Bank of Canada plus 5% per annum, calculated quarterly and compounded semi-annually, from the date that such unpaid amount is due until the date that the payment is received. This interest provision does not relieve the Lessee from its obligation to pay Rent and First Nation Fees at the time and in the manner specified in this Lease and will not 71 This clause does two things: 1) it deems monies spent by the Lessor arising from a breach of a provision of the Lease to be Rent (so as to benefit from common law remedies concerning rent – see notes 31 and 154); and 2) it sets an administration fee of 15% of those monies to be paid as well. The idea of an administration fee is that a landlord has internal costs that are not easily quantifiable as expenses specifically related to the breach (e.g., salary time of employees dealing with the issue). The concept is not usually an issue, but the 15% figure is something that Lessees sometimes wish to negotiate. 72 This clause mimics the Lessor’s clause. As it is for the benefit of the First Nation, it cannot deem monies owed to be Rent because only a landlord may charge Rent. prejudice or affect the remedies of the Lessor and the First Nation under this Lease or otherwise.73 4.12 Survival of Sections – Sections 4.9 – 4.11 survive when this Lease ends.74
