Common use of Collection Charges Clause in Contracts

Collection Charges. If any part of any sum is not paid when due, Lessee agrees to pay Lessor (a) a one-time late charge to compensate Lessor for collecting and processing the late sum, such late charge is stipulated and liquidated at the greater of $.015 per dollar of each delayed sum or $15; plus (b) an interest charge after the first month in which the sum is late to compensate Lessor for the inability to reinvest the sum, such interest charge is stipulated and liquidated at 1 1/2% per month, or when less, the maximum allowed under applicable law; plus (c) a collection call charge to compensate Lessor for the time and expense in making any call, such collection phone call charge is stipulated and liquidated at $15.50 per collection call; plus (d) a personal visit charge to compensate Les- sor for the time and expense of making any visit, such personal visit charge is stipulated and liquidated at $50 per visit; plus (e) a returned-check or non-sufficient funds (“NSF”) charge to reimburse Lessor for its time and expense incurred with respect to a check that is returned for any reason including non-sufficient or uncollected funds, such NSF charge is stipulated at the greater of $50 or actual bank charges to Lessor, plus other amounts allowed by law.

Collection Charges. If any part of any sum is not paid when due, Lessee agrees to pay Lessor (a) a one-time late charge to compensate Lessor for collecting and processing the late sum, such late charge is stipulated and liquidated at the greater of $.015 per dollar of each delayed sum or $15; plus (b) an interest charge after the first month in which the sum is late to compensate Lessor for the inability to reinvest the sum, such interest charge is stipulated and liquidated at 1 1/2% per month, or when less, the maximum allowed under applicable law; plus (c) a collection call charge to compensate Lessor for the time and expense in making any call, such collection phone call charge is stipulated and liquidated at $15.50 per collection call; plus (d) a personal visit charge to compensate Les- sor Lessor for the time and expense of making any visit, such personal visit charge is stipulated and liquidated at $50 per visit; plus (e) a returned-check or non-sufficient funds (“NSF”) charge to reimburse Lessor for its time and expense incurred with respect to a check that is returned for any reason including non-sufficient or uncollected funds, such NSF charge is stipulated at the greater of $50 or actual bank charges to Lessor, plus other amounts allowed by law.

Collection Charges. If any part of any sum is not paid when due, Lessee Xxxxxx agrees to pay Lessor (a) a one-time late charge to compensate Lessor for collecting and processing the late sum, such late charge is stipulated and liquidated at the greater of $.015 per dollar of each delayed sum or $15; plus (b) an interest charge after the first month in which the sum is late to compensate Lessor for the inability to reinvest the sum, such interest charge is stipulated and liquidated at 1 1/2% per month, or when less, the maximum allowed under applicable law; plus (c) a collection call charge to compensate Lessor for the time and expense in making any call, such collection phone call charge is stipulated and liquidated at $15.50 per collection call; plus (d) a personal visit charge to compensate Les- sor for the time and expense of making any visit, such personal visit charge is stipulated and liquidated at $50 per visit; plus (e) a returned-check or non-sufficient funds (“NSF”) charge to reimburse Lessor for its time and expense incurred with respect to a check that is returned for any reason including non-sufficient or uncollected funds, such NSF charge is stipulated at the greater of $50 or actual bank charges to Lessor, plus other amounts allowed by law.