Common use of Discounted Rent Clause in Contracts

Discounted Rent. As an inducement of prompt rent payment, a Discounted Rent installment of $ dollars may be paid by Tenants if paid fully by 5:00 p.m. of the 3rd day of the month in which rent is due. If Tenants deliver a Discounted Rent installment and it is not delivered in the correct amount, or delivered after the 3rd day of the month, Landlord shall deliver or mail by the 10th of the month written notice of the failure to qualify for the Discounted Rent payment. The written notice described in this paragraph shall also set forth the balance owed on the Basic Rent obligation and specify the date by which Tenants must pay the balance owed for rent.

Discounted Rent. As an inducement of prompt rent payment, a Discounted Rent installment of $ dollars is described below in the rent schedule as a semester payment may be paid by Tenants tenants if paid fully by 5:00 p.m. of 5:00p.m. on the 3rd 1st day of the month in which rent is due. If Tenants Xxxxxx’s deliver a Discounted Rent installment and it is not delivered in the correct amount, or delivered after the 3rd day of the month, Landlord shall deliver or mail by the 10th of the month written notice of the failure to qualify for the Discounted Rent payment. The written notice described in this paragraph shall also set forth the balance owed on the Basic Rent obligation and specify the date by which Tenants must pay the balance owed for rent. There will be a $75.00 fee assessed for all checks returned for insufficient funds.