Failure of Owner to Timely Pay. Any sums owed by Owner to Manager which are not paid when due shall bear interest at the lesser of (i) the prime rate plus 5 percentage points, or (ii) the maximum nonusurious rate of interest permitted by applicable law.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Hines Real Estate Investment Trust Inc), Property Management and Leasing Agreement (Hines Real Estate Investment Trust Inc), Property Management and Leasing Agreement (Hines Real Estate Investment Trust Inc)
Failure of Owner to Timely Pay. Any sums owed by Owner to Manager which are not paid when due shall bear interest at the lesser of (i) the prime rate plus 5 five (5) percentage points, or (ii) the maximum nonusurious rate of interest permitted by applicable law.
Appears in 2 contracts
Samples: Property Management and Leasing Agreement (Hines Global REIT, Inc.), Property Management and Leasing Agreement (Hines Global REIT, Inc.)
