Common use of FEES AND EXPENSES; INTEREST Clause in Contracts

FEES AND EXPENSES; INTEREST. 16.01. If Tenant shall default in the observance or performance of any term or covenants on Tenant's part to be observed or performed under or by virtue of any of the covenants, terms or provisions in any Article of this Lease, (a) Landlord may remedy such default for the account of Tenant, immediately and without notice in case of emergency, or in any other case only provided that Tenant shall fail to remedy such default with all reasonable dispatch after Landlord shall have notified Tenant in writing of such default and the applicable grace period for curing such default shall have expired; and (b) if Landlord makes any expenditures or incurs any obligations for the payment of money in connection with such default including, but not limited to, reasonable attorneys' fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest, shall be deemed to be additional rent hereunder and shall be paid by Tenant to Landlord upon rendition of a xxxx to Tenant therefor. Except as otherwise specifically provided in this Lease, including but not limited to Article 48, hereof, if Tenant is late in making any payment other than the payment of fixed annual rent and/or additional rent due to Landlord from Tenant under this Lease, then interest ("interest") calculated at the rate of one and half percent (1--1/2%) per month shall become due and owing to Landlord on such payment from the date when it was due (or such lesser amount as may then be legally permitted by law)..

Appears in 1 contract

Samples: Lease Agreement (Stratcomm Media LTD)

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FEES AND EXPENSES; INTEREST. 16.01. 21.01 If Tenant shall default beyond any applicable notice and/or grace period in the observance or performance of any term or covenants covenant on Tenant's part to be observed or performed under or by virtue of any of the covenants, terms or of provisions in any Article of this Lease, (a) Landlord may remedy such default for the account of Tenant, immediately and without notice in case of emergency, or in any other case only provided that Tenant shall fail to remedy such default with all reasonable dispatch after Landlord shall have notified Tenant in writing of such default and the applicable grace period for curing such default shall have expired; and (b) if Landlord makes any expenditures or incurs any obligations for the payment of money in connection with such default including, but not limited to, reasonable attorneys' fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest, shall be deemed to be additional rent hereunder and shall be paid by Tenant to Landlord upon rendition of a xxxx to Tenant therefor. Except as otherwise specifically provided in this Lease, including but not limited to Article 48, hereof, if If Tenant is more than ten (10) days late in making any payment other than the payment of fixed annual rent and/or additional rent due to Landlord from Tenant under this Lease, then interest ("interest") calculated at the rate of one and half percent (1--1/2%) per month shall become due and owing to Landlord on such payment from the date when it was due (or such lesser amount due, computed as may then be legally permitted by law)..provided in Section 25.05 hereof.

Appears in 1 contract

Samples: Lease Agreement (Gantos Inc)

FEES AND EXPENSES; INTEREST. 16.01. If Tenant shall default in the observance or performance of any term or covenants covenant on Tenant's part to be observed or performed under or by virtue of any of the covenants, terms or provisions in any Article of this Lease, (a) Landlord may remedy such default for the account of Tenant, immediately and without notice in case of emergency, or in any other case only provided that Tenant shall fail to remedy such default with all reasonable dispatch after Landlord shall have notified Tenant in writing of such default and the applicable grace period for curing such default shall have expired; and (b) if Landlord makes any expenditures or incurs any obligations for the payment of money in connection with such default including, but not limited to, reasonable attorneys' fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest, shall be deemed to be additional rent hereunder and shall be paid by Tenant to Landlord upon rendition of a xxxx to Tenant therefor. Except as otherwise specifically provided in this Lease, including but not limited to Article 48, hereof, if If Tenant is late in making any payment other than the payment of fixed annual rent and/or additional rent due to Landlord from Tenant under this Lease, then interest ("interest") calculated at the rate of one and half percent (1--1/2%) per month shall become due and owing to Landlord on such payment from the date when it was due (or such lesser amount due, computed as may then be legally permitted by law)..provided in Section 20.04 hereof.

Appears in 1 contract

Samples: Lease Agreement (Trans World Gaming Corp)

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FEES AND EXPENSES; INTEREST. 16.01. 21.1 If Tenant shall default in the observance or performance of any term or covenants covenant on Tenant's part to be observed or performed under or by virtue of any of the covenants, terms or of provisions in any Article of this Lease, (a) Landlord may remedy such default for the account of Tenant, immediately and without notice in case of emergency, or in any other case only provided that Tenant shall fail to remedy such default with all reasonable dispatch after Landlord shall have notified Tenant in writing of such default and the applicable grace period for curing such default shall have expired; and (b) if Landlord makes any expenditures or incurs any obligations for the payment of money in connection with such default including, but not limited to, reasonable attorneys' fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest, shall be deemed to be additional rent hereunder and shall be paid by Tenant to Landlord upon rendition of a xxxx to Tenant therefor. Except as otherwise specifically provided in this Lease, including but not limited to Article 48, hereof, if . 21.2 If Tenant is late in making any payment other than the payment of fixed annual rent and/or additional rent due to Landlord from Tenant under this Lease, then interest ("interest") calculated at the rate of one and half percent (1--1/2%) per month shall become due and owing to Landlord on such payment from the date when it was due (or such lesser amount due, computed as may then be legally permitted by law)..provided in Section 25.5 hereof.

Appears in 1 contract

Samples: Lease Agreement (Vision Sciences Inc /De/)

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