INTEREST ON RENT IN DEFAULT. Without waiving any other rights of action of the Corporation in the event of default of payment of rent hereunder, in the event that the Lessee is delinquent after the date above appointed in making the payments required hereunder, the Lessee shall pay interest thereon at the rate of 2% per month retroactive from the date any such amount is due and payable until paid. In order to reflect prevailing interest rates, the Corporation may review and adjust the interest rate from time to time.
INTEREST ON RENT IN DEFAULT. If any Rent remains delinquent for a period in excess of ten (10) calendar days, then Tenant shall pay to Landlord interest on any Rent that is not so paid from said tenth day at the rate of the lesser of Comerica Prime Plus Two or the then maximum rate of interest not prohibited or made usurious by Law until paid.
INTEREST ON RENT IN DEFAULT. Without waiving any other right of action of the City in the event of default of payment of rent under this lease, in the event that the Tenant is delinquent in making the payments required hereunder, the Tenant shall pay interest thereon at the rate of 1¾ percent per month (21 percent per annum), compounded monthly, from the date any such amount is due and payable until and including the date upon which it is paid.
INTEREST ON RENT IN DEFAULT. Without waiving any other right of action of the Lessor in the event of default of payment of Rent under this lease, in the event that the Lessee is delinquent in making the payments required hereunder, the Lessee shall pay interest thereon at the rate of 1 3/4 percent per month (21 percent per annum), compounded monthly, from the date any such amount is due and payable until paid. In order to reflect prevailing interest rates the Lessor may review and adjust the interest rate charged from time to time without notice to the Lessee.
