Common use of Interest on Unpaid Rent Clause in Contracts

Interest on Unpaid Rent. Minimum Rent, Additional Rent or any other charges not paid within ten (10) days of the due date shall bear interest until paid at a rate equal to the lesser of (i) the highest rate allowable at law, or (ii) an annual rate equal to the prime or reference rate, as announced by the Bank of America from time to time, plus four percent (4%). All such interest shall be deemed to be Additional Rent.

Interest on Unpaid Rent. Minimum All installments of Rent, Additional Sublease Rent or any and all other charges which are not paid within ten five (105) days of after the date when due date shall bear interest from the date due until paid paid, at a an annual rate equal to the lesser of (ia) the highest greatest per annum rate allowable at law, or (ii) an annual rate equal to the prime or reference rate, as announced by the Bank of America interest permitted from time to timetime under applicable law, and (b) the Prime Rate (as defined in Section XV hereof) plus four two percent (42%). All such interest shall be deemed to be Additional Rent.