Common use of Interest on Unpaid Rent Clause in Contracts

Interest on Unpaid Rent. All installments of Rent, Additional Sublease Rent and all other charges which are not paid within five (5) days after the date when due shall bear interest from the date due until paid, at an annual rate equal to the lesser of (a) the greatest per annum rate of interest permitted from time to time under applicable law, and (b) the Prime Rate (as defined in Section XV hereof) plus two percent (2%).

Interest on Unpaid Rent. All installments of Base Rent, Additional Sublease Rent and all other charges which are not paid within five (5) days after the date when due shall bear interest from the date due until paid, at an annual a rate equal equivalent to the lesser of (a) the greatest per annum rate of interest permitted from time to time under applicable law, and (b) 5% over the Prime Rate (as defined in Section XV hereof) plus two percent (2%)Rate, or the maximum rate permitted by law.