Common use of INTEREST ON TENANT'S OBLIGATIONS Clause in Contracts

INTEREST ON TENANT'S OBLIGATIONS. Any amount due from Tenant to Landlord which is not paid when due shall, subject to Section 5.8 above, bear interest at the rate (the “Interest Rate”) equal to the lesser of ten percent (10%) per annum or the maximum rate allowed by law from the date such payment is due until paid, but the payment of such interest shall not excuse or cure the default in payment.

Appears in 2 contracts

Sources: Lease Agreement (Fusion-Io, Inc.), Lease Agreement (Fusion-Io, Inc.)

INTEREST ON TENANT'S OBLIGATIONS. Any amount due from Tenant to Landlord which is not paid when due shall, subject to Section 5.8 above, shall bear interest at the rate (the “Interest Rate”) equal to the lesser of ten eighteen percent (1018%) per annum or the maximum rate allowed by law from the date such payment is due until paid, but the payment of such interest shall not excuse or cure the default in payment.

Appears in 1 contract

Sources: Lease Agreement (Category 5 Technologies Inc)

INTEREST ON TENANT'S OBLIGATIONS. Any amount due from Tenant to Landlord which is not paid when due shall, subject to Section 5.8 above, shall bear interest at the rate (the “Interest Rate”) equal to the lesser of ten percent eighteen percept (1018%) per annum or the maximum rate allowed by law from the date such payment is due until paid, but the payment of such interest shall not excuse or cure the default in payment.

Appears in 1 contract

Sources: Lease Agreement (Raser Technologies Inc)