Common use of Interest on Late Payments and Late Payment Charge Clause in Contracts

Interest on Late Payments and Late Payment Charge. Any Rent (whether Base Rent or Additional Rent) or other amount due from Tenant to Landlord under this Lease not paid within five (5) days of the date due shall bear interest from the date due until the date paid at the rate of two percent (2%) per month (the “Default Rate”), but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. Failure to charge or collect such interest in connection with any one or more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such interest in connection with any other or similar or like late payments. Furthermore, in the event any rent or other amounts owing hereunder are not paid within five (5) days after the due date, then Landlord and Tenant agree that Landlord will incur additional administrative expenses, the amount of which will be difficult if not impossible to determine. Accordingly, in addition to such required payment, Tenant shall pay to Landlord an additional one time late charge for any such late payment in the amount of five percent (5%) of the amount of such late payment. Notwithstanding the above, Landlord agrees that it shall waive such late charge and interest twice during any calendar year provided Tenant is not otherwise in default hereunder. Tenant shall not be deemed late if the Rent payment is postmarked by the United States Post Office no later than the last day of the five (5) day period set forth above, the payment is actually received and Tenant uses all reasonable efforts to make all payments when due.

Interest on Late Payments and Late Payment Charge. Any Rent (whether Base Rent or Additional Rent) or other amount due from Tenant to Landlord under this Lease not paid within five (5) days of the date due shall bear interest from the date due until the date paid at the rate of two percent (2%) per month (the “Default Rate”), but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. Failure to charge or collect such interest in connection with any one or more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such interest in connection with any other or similar or like late payments. Furthermore, in the event any rent or other amounts owing hereunder are not paid within five (5) days after the due date, then Landlord and Tenant agree that Landlord will incur additional administrative expenses, the amount of which will be difficult if not impossible to determine. Accordingly, in addition to such required payment, Tenant shall pay to Landlord an additional one time late charge for any such late payment in the amount of five percent (5%) of the amount of such late payment. Notwithstanding the above, Landlord Xxxxxxxx agrees that it shall waive such late charge and interest twice during any calendar year provided Tenant Xxxxxx is not otherwise in default hereunder. Tenant shall not be deemed late if the Rent payment is postmarked by the United States Post Office no later than the last day of the five (5) day period set forth above, the payment is actually received and Tenant uses all reasonable efforts to make all payments when due.

Interest on Late Payments and Late Payment Charge. Any Rent rent (whether Base Rent or Additional Rent) or other amount due from Tenant to Landlord under this Lease not paid within five (5) days of the date when due shall bear interest from the date due until the date paid at the per annum rate of the Prime Rate (as defined in Section 28.11) plus two percent (2%) per month (the “"Default Rate”"), but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. Failure to charge or collect such interest in connection with any one or more such late payments shall not constitute a waiver of Landlord’s 's right to charge and collect such interest in connection with any other or similar or like late payments. FurthermoreIn addition, in the event any rent or other amounts owing hereunder are not paid within five three (53) days after the due date, then Landlord and Tenant agree that Landlord will incur additional administrative expenses, the amount of which will be difficult if not impossible to determine. Accordingly, in addition to such required payment, Tenant shall pay to Landlord an additional one time late charge for any such late payment in the amount of five three percent (53%) of the amount of such late payment. Notwithstanding the above, Landlord agrees that it if Landlord receives payment of such amounts due within five (5) days of Tenant's written receipt of notice of nonpayment from Landlord, then Landlord shall waive the interest on such late charge payment and the late charge, but Landlord (i) shall have no obligation to waive such charges and interest more than twice during any calendar year provided Tenant year; (ii) shall have no obligation to give notice more than twice during any calendar year; and (iii) shall have no obligation to waive any charges if there is not otherwise in any prior existing uncured default hereunder. Tenant shall not be deemed late if the Rent payment is postmarked by the United States Post Office no later than the last day of the five (5) day period set forth above, the payment is actually received and Tenant uses all reasonable efforts to make all payments when dueunder this Lease.

Interest on Late Payments and Late Payment Charge. Any Rent rent (whether Base ------------------------------------------------- Rent or Additional Rent) or other amount due from Tenant to Landlord under this Lease not paid within five (5) days of the date when due shall bear interest from the date due until the date paid at the rate of two one and one-half percent (21-1/2%) per month (the “Default Rate”)month, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. Failure to charge or collect such interest in connection with any one or more such late payments shall not constitute a waiver of Landlord’s 's right to charge and collect such interest in connection with any other or similar or like late payments. FurthermoreNotwithstanding the above, Xxxxxxxx agrees that it shall, twice during any calendar year, give written notice of such late payment and if Tenant pays the late payment within ten (10) days of receipt of written notice, Landlord will waive the interest for such payment. Notwithstanding the above, in the event any rent or other amounts owing hereunder are not paid within five (5) days after the due date, then Landlord and Tenant agree that Landlord will incur additional administrative expenses, the amount of which will be difficult if not impossible to determine. Accordingly, in addition to such required payment, Tenant shall pay to Landlord an additional one time late charge for any such late payment in the amount of five percent (5%) of the amount of such late payment. Notwithstanding the above; provided, however, Landlord agrees that it shall waive such late charge and interest shall, twice during any calendar year provided year, give written notice of such late payment due and if Tenant is not otherwise in default hereunder. Tenant shall not be deemed pays the late if the Rent payment is postmarked by the United States Post Office no later than the last day of the within five (5) day period set forth abovedays of receipt of written notice, Landlord will waive the payment is actually received and Tenant uses all reasonable efforts to make all payments when duelate charge for such payments.