Interest and Late Charge. Landlord may charge a late payment charge of five percent (5%) of any installment of Fixed Basic Rent or Additional Rent that is not paid on or before the due date thereof. Any amount due from Tenant to Landlord which is not paid when due shall bear interest ("Interest") at an interest rate equal to the Prime Rate published from time to time in the Money Rates column of the Wall Street Journal (East Coast Edition) plus 3% (or, if lower, the highest rate then allowed under the usury laws of the Commonwealth of Pennsylvania) from the date due until the date paid. The right of Landlord to charge a late charge and interest with respect to past due installments of Fixed Basic Rent and Additional Rent is in addition to Landlord's rights and remedies upon an event of default.
Interest and Late Charge. Should Tenant fail to pay any part of the Rent to be paid to Landlord within thirty (30) days after the due date thereof, Tenant shall pay Landlord interest on such delinquent payment from the expiration of said thirty (30) days until the date of payment at the rate of ten percent (10%) per annum. Also if any Rent is not paid within thirty (30) days after the due date, without notice and at the option of Landlord exercisable in its sole and absolute discretion, Tenant shall pay to Landlord a late charge at the rate of five percent (5%) per annum of the past-due Rent in order to cover Landlord’s extra costs and expense in handling delinquent payments.
Interest and Late Charge. If Tenant fails to make any payment of Base Rent or of additional rent within seven (7) days of the date such payment is due and payable, Tenant shall pay to Landlord a late charge of five percent (5%) of the amount of such payment. In addition, such payment shall bear interest at the rate per annum which is two percent (2%) higher than the "prime rate" then being charged by Bank of America from the date such payment became due to the date of payment thereof by Tenant; provided, however, that nothing contained herein shall be construed as permitting Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Such late charge and interest shall constitute additional rent due and payable hereunder within two (2) days of written demand therefor.
Interest and Late Charge. If Tenant fails to pay Rent as and when due and such failure continues for three (3) business days following written notice from Landlord, then, together with each payment of Rent that Tenant pays to Landlord after such payment is due, Tenant shall pay to Landlord the Late Charge (as defined below) and interest calculated on the amount of such payment over the period commencing on the day immediately following the day on which such payment was due and ending on the day on which Tenant pays to Landlord such payment at the rate of the lesser of six percent (6%) over the “Prime Rate” announced from time to time by Bank of America or its successor or the maximum lawful rate of interest. Notwithstanding the foregoing, Landlord shall not be required to provide prior notice of Tenant’s failure to pay Base Rent or any recurring obligation to pay Rent more than once during any twelve (12) month period, after which Tenant’s failure to pay such amount shall be subject to the Late Charge and default interest provided above if Tenant fails to pay the amount when due and such failure continues for three (3) business days after the due date. “Late Charge” means, in respect of any such payment, five percent (5%) of such payment. In addition, Tenant shall pay to Landlord a reasonable fee for any checks returned by Txxxxx’s bank for any reason.
Interest and Late Charge. If any installment of Rent is not paid promptly when due, such amount shall bear interest at the rate of ten percent (10%) per annum from the date on which said payment shall be due until the date on which Landlord shall receive said payment regardless of whether or not a notice of default or notice of termination has been given by Landlord. In addition, Tenant shall pay Landlord a late charge of ten percent (10%) of the amount delinquent. Landlord and Txxxxx recognize that the damage which Landlord shall suffer as a result of Txxxxx’s failure to pay Rent is difficult to ascertain, said late charge being the best estimate of the damage which Landlord shall suffer in the event of Tenant’s late payment. This provision shall not relieve Tenant of Tenant’s obligation to pay Rent at the time and in the manner herein specified.
Interest and Late Charge. From and after 5 days after the due date of any payment of Rent, interest shall accrue thereon at the rate of the lesser of 1-1/2% per month or the maximum rate permitted by law. Any amounts of Rent not paid within five (5) days after their due date shall be subject to a late charge equal to five percent (5%) of the delinquent amount.
Interest and Late Charge. Any Minimum Rent or Additional Rent which is not paid when due shall bear interest on the unpaid portion at the lesser of (i) the highest rate allowed by law, or (ii) the prime rate as published in the Wall Street Journal plus 4%. In addition, Tenant shall pay a late charge of 5% of the amount of the payment which is overdue. Tenant shall reimburse Landlord for all bank charges incurred for any of Tenant’s payments which are returned to Landlord because of insufficient funds or other reasons.
Interest and Late Charge. (a) Any payment required to be made by Tenant under the provisions of this Lease not made by Tenant within five (5) business days from the date when due (following applicable notice and cure periods, if any) shall be payable by Tenant to Landlord on demand with interest thereon at the highest legal rate, or eighteen (18%) percent per annum if there is no legal rate, computed from the date said sum became due to the date of payment thereof to Landlord.
(b) In order to cover the extra expense involved in handling delinquent payments, Tenant shall pay a “late charge” of five (5%) percent of the amount due when any payment of Rent hereunder is received by Landlord more than five (5) business days after the due date thereof (following applicable notice and cure periods, if any). It is understood and agreed that this charge is for additional expense incurred by Landlord and shall not be considered interest.
(c) No failure by Landlord to insist upon the strict performance by Tenant of Tenant’s obligations to pay interest and late charges as provided in this Section 25.09, shall constitute a waiver by Landlord of its right to enforce the provisions of this Section 25.09 in any instance thereafter occurring. The provisions of this Section 25.09 shall not be construed in any way to extend the grace periods, if any, or notice periods provided for in any other Articles of this Lease.
Interest and Late Charge. If Tenant shall fail to pay any Rental when due, Tenant shall pay to Landlord, as Additional Rent, interest on the unpaid Rental at the rate of the lower of (such lower rate being herein referred to as the “Default Rate”): (a) thirteen (13%) percent per annum and (b) the highest rate per annum chargeable to Tenant pursuant to law, from the date due until the date paid. In addition, if Tenant shall fail to pay when due any Rental within five (5) days of the date due, then Tenant shall pay to Landlord, as Additional Rent, a late charge equal to five (5%) percent of the unpaid Rental plus reasonable attorneys fees incurred by Landlord by reason of Tenant’s failure to timely pay Rental, as an agreed and liquidated amount as compensation for Landlord’s additional administrative expenses relating to such late payment (provided in the case of the first two such failures in the Term only, such failures shall not result in a late charge hereunder unless and until Tenant fails to cure such defaults within five (5) days following notice thereof). The provisions of this Section are in addition to any other remedies available to Landlord with respect to non-payment of Rental.
Interest and Late Charge. Tenant acknowledges that its late payment of any Base Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amount of which is extremely difficult or impractical to fix. Such costs and expenses will include without limitation, loss of use of money, administrative and collection costs and processing and accounting expenses. Therefore, if any payment of Base Rent is not received by Landlord within ten (10) days of when due, Tenant shall immediately pay to Landlord a late charge equal to One Thousand and No/100 Dollars ($1,000.00) (“Late Charge”), together with interest on all unpaid Base Rent from the date due through the date paid at the Delinquency Rate. Landlord and Tenant agree that the Late Charge plus such interest payments represents a reasonable estimate of costs and expenses incurred by Landlord, and is fair compensation to Landlord for, its loss suffered by such non-payment by Tenant, provided that such compensation shall be in addition to and not in lieu of any and all other rights and remedies of Landlord under this Lease for failure of Tenant to pay Base Rent hereunder. Notwithstanding the foregoing, for the first two (2) instances in any Lease Year that Base Rent is late, no Late Charge or interest at the Delinquent Rate shall be due until Tenant fails to pay said Base Rent within five (5) business days of receipt of written notice from Landlord of said late Base Rent payment. Notwithstanding the foregoing, for the first instance only that Base Rent is due, in the event that Tenant has not received an executed Lease Confirmation Certificate from Landlord, Base Rent shall continue to accrue from and after the Commencement Date, but no Late Charge or interest shall be due, and Tenant shall not be in Default under this Lease, until Tenant fails to pay Base Rent by the date that is ten (10) business days past the date that Tenant has received the executed Lease Confirmation Certificate from Landlord.
