Common use of ATTORNEY FEES AND INTEREST Clause in Contracts

ATTORNEY FEES AND INTEREST. (a) In the event either party hereto shall institute suit against the other with reference to the terms and conditions of this Lease, the prevailing party shall be entitled to reasonable attorney's fees and court costs. (b) All sums due from one party to the other party hereunder which are not paid when due shall bear interest at the lesser of ten percent (10%) per annum or the national prime interest rate plus two percent (2%) per annum from the date same became due until paid.

Appears in 2 contracts

Samples: Lease Agreement (Cidra Corp), Lease Agreement (United Stationers Supply Co)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!