Common use of Interest and Late Fees Clause in Contracts

Interest and Late Fees. Past due accounts will be charged interest on a monthly basis, calculated at one and one-half percent (1.5%) per month of the unpaid balance or the maximum rate allowable by law.

Interest and Late Fees. Past due accounts will be charged interest on a monthly basis, calculated at one and one-half one‐half percent (1.5%) per month of the unpaid balance or the maximum rate allowable by law.

Interest and Late Fees. Past due accounts will be charged interest on a monthly basis, calculated at the greater of: (i) one and one-half percent (1.5%) per month of the unpaid balance or (ii) the maximum rate allowable by law.