Common use of Delinquent Rental Payments Clause in Contracts

Delinquent Rental Payments. If Tenant does not pay any installment of Basic Rent or any Additional Rent within three (3) days after the date the payment is due, Tenant will pay Landlord a late payment charge equal to five percent (5%) of the amount of the delinquent payment. Further, if Tenant does not pay any installment of Basic Rent or any Additional Rent within thirty (30) days after the date the payment is due, Tenant will pay Landlord interest on the delinquent payment calculated at the Maximum Rate from the date when the payment is due through the date the payment is made. The parties agree that such amounts represent a fair and reasonable estimate of the damages Landlord will incur by reason of such late payment. The parties agree that the charge specified as the late payment charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of such late payment and acceptance of such late charge does not constitute a waiver of Tenant's default or limit any other remedy of Landlord. The late charge shall be deemed Rent and Landlord's right to such compensation for the delinquency is in addition to all of Landlord's rights and remedies under this Lease, at law or in equity.

Delinquent Rental Payments. If Tenant does not pay any installment of Basic Rent or any Additional Rent within three (3) days after the date the payment is due, Tenant will pay Landlord a late payment charge equal to five percent (5%) % of the amount of the delinquent payment. Further, if Tenant does not pay any installment of Basic Rent or any Additional Rent within thirty (30) days after the date the payment is due, Tenant will pay Landlord interest on the delinquent payment calculated at the Maximum Rate from the date when the payment is due through the date the payment is made. The parties agree that such amounts represent a fair and reasonable estimate of the damages Landlord will incur by reason of such late payment. The parties agree that the charge specified as the late payment charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of such late payment and acceptance of such late charge does not constitute a waiver of Tenant's ’s default or limit any other remedy of Landlord. The late charge shall be deemed Rent and Landlord's ’s right to such compensation for the delinquency is in addition to all of Landlord's ’s rights and remedies under this Lease, at law or in equity.

Delinquent Rental Payments. If Tenant Landlord does not pay receive any installment payment of Basic Rent or any Additional Rent within three five (35) days after the date the payment is due, Tenant will pay Landlord a late payment charge equal to five three (3) percent (5%) of the amount of the delinquent payment. Notwithstanding the foregoing, Tenant will not be assessed the late payment charge on the first late payment in any calendar year of the Term if that payment is made within five (5) days after Tenant’s receipt of notice of nonpayment from Landlord. Further, if Tenant Landlord does not pay receive any installment payment of Basic Rent or any Additional Rent within thirty (30) days after the date the payment is due, Tenant will pay Landlord interest on the delinquent payment calculated at the Maximum Rate from the date when the payment is due through the date the payment is madereceived by Landlord. The parties agree that such amounts represent a fair and reasonable estimate of the damages Landlord will incur by reason of such late payment. The parties agree that the charge specified as the late payment charge represents a fair Such charges and reasonable estimate of the costs Landlord interest will incur by reason of such late payment and acceptance of such late charge does not constitute a waiver of Tenant's default or limit any other remedy of Landlord. The late charge shall be deemed considered Additional Rent and Landlord's ’s right to such compensation for the delinquency is in addition to all of Landlord's ’s other rights and remedies under this Lease, at law or in equity.