Common use of Late Charge and Default Interest Clause in Contracts

Late Charge and Default Interest. Notwithstanding anything in this Lease to the contrary, if Tenant fails to pay the Fixed Minimum Rent or any other charges due hereunder within five (5) days after due, then, in addition to and not in lieu of any other right or remedy available to Landlord, Tenant shall pay to Landlord (i) a late charge from the original due date until paid in full in an amount equal to Twenty-five Dollars ($25.00) per day or one and one-half percent (1.5%) per month, or fraction thereof, whichever is greater and (ii) interest on the unpaid amount at the Default Rate (as hereinafter defined) from the original due date until paid in full.

Late Charge and Default Interest. Notwithstanding anything in this Lease to the contrary, if Tenant fails to pay the Fixed Minimum Rent or any other charges due hereunder within five (5) days after due, then, in addition to and not in lieu of any other right or remedy available to Landlord, Tenant shall pay to Landlord (i) a late charge from the original due date until paid in full in an amount equal to Twenty-five Dollars ($25.00) per day or one and one-half percent (1.5%) per month, or fraction thereof, whichever is greater and (ii) interest on the unpaid amount at the Default Rate (as hereinafter defined) from the original due date until paid in fullgreater.