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.
Appears in 5 contracts
Samples: Lease and Feedstock Supply Agreement, Lease and Feedstock Supply Agreement, Lease and Feedstock Supply Agreement
