Common use of DELINQUENT RENT PENALTY Clause in Contracts

DELINQUENT RENT PENALTY. If Lessee shall fail to pay any rent, interim rent installment or other amount due hereunder within ten (10) days after the due date and until all sums due hereunder have been declared due and payable in accordance with Xxxxxxxxx 00, Xxxxxx shall pay to Lessor a late charge of five (5%) percent of such amount due for each month or part thereof for which said rent or other sums shall be delinquent. After all sums are declared due and payable in accordance with Xxxxxxxxx 00, Xxxxxx shall pay interest at the rate of fifteen (15%) percent per annum or the maximum contract rate permitted by law, whichever is less, on such accelerated sums from the date of acceleration until paid, and whether or not judgment hereon has been entered.

DELINQUENT RENT PENALTY. If Lessee shall fail to pay any rent, interim rent installment or other amount due hereunder within ten (10) days 10)days after the due date and until all sums due hereunder have been declared due and payable in accordance with Xxxxxxxxx 00, Xxxxxx shall pay to Lessor a late charge of five (5%) percent of such amount due for each month or part thereof for which said rent or other sums shall be delinquent. After all sums are declared due and payable in accordance with Xxxxxxxxx 00, Xxxxxx shall pay interest at the rate of fifteen (15%) percent per annum or the maximum contract rate permitted by law, whichever is less, on such accelerated sums from the date of acceleration until paid, and whether or not judgment hereon has been entered.