Common use of Interest on Past Due Amounts Clause in Contracts

Interest on Past Due Amounts. In addition to late charge described in Paragraph 6 above, if any installment of Base Rent, any Additional Rent or any other payment is not paid promptly when due, it will bear interest at the rate of ten percent (10%) per annum from the date on which it becomes due until paid; provided, however, this provision is not intended to relieve Lessee from any default in the making of any payment at the time and in the manner herein specified. The foregoing interest, expenses and damages will be recoverable from Lessee by the exercise of Lessor’s remedies hereinabove set forth.

Interest on Past Due Amounts. In addition to late charge described in Paragraph 6 aboveparagraph 16.4 below, if any installment of Base Rentrent, any Additional Rent additional rent or any other payment is not paid promptly when due, it will bear interest at the rate of ten percent (10%) per annum from the date on which it becomes due until paid; provided, however, this provision is not intended to relieve Lessee from any default in the making of any payment at the time and in the manner herein specified. The foregoing interest, expenses and damages will be recoverable from Lessee by the exercise of Lessor’s 's remedies hereinabove set forth.