Common use of Daily Amount Clause in Contracts

Daily Amount. If Xxxxxxx fails to correct a default as contemplated in section 5.1, Kiwanis will pay to the District, as a rent charge pursuant to section 5.3, in respect to each incidence of default, within 30 days of receiving a written request by the District, the Daily Amount for every day that the default continues. The Daily Amount will be increased on January 1 of each year by an amount calculated by multiplying the Daily Amount as of the previous January 1 by the percentage increase in the CPI during the immediately preceding calendar year. The Daily Amount is due and payable immediately upon receipt by Xxxxxxx of an invoice from the District for the same. This section is without prejudice to any other remedy available to the District under this Agreement and at law or in equity.

Daily Amount. If Xxxxxxx Kiwanis fails to correct a default as contemplated in section 5.1, Kiwanis will pay to the District, as a rent charge pursuant to section 5.3, in respect to each incidence of default, within 30 days of receiving a written request by the District, the Daily Amount for every day that the default continues. The Daily Amount will be increased on January 1 of each year by an amount calculated by multiplying the Daily Amount as of the previous January 1 by the percentage increase in the CPI during the immediately preceding calendar year. The Daily Amount is due and payable immediately upon receipt by Xxxxxxx Kiwanis of an invoice from the District for the same. This section is without prejudice to any other remedy available to the District under this Agreement and at law or in equity.