Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 8 contracts
Samples: Lease (Cardiodx Inc), Sublease (Gigamon Inc.), Lease (Cardiodx Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of such Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes dueLandlord delivers written notice to Tenant that such amount is delinquent, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5% %) of the Additional Rent not so paidsuch delinquent rent. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment any rent due under this Lease when duein a timely fashion, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five thirty (530) calendar days, thendays after Landlord delivers written notice to Tenant that such amount is delinquent, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day when due at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate following the date such amount became due until paid.
Appears in 3 contracts
Samples: Lease (United Defense Lp), United Defense Lp, United Defense Lp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent or any Additional Rent is not received by Landlord from Tenant within five ten (510) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge Amount (as defined in an amount equal to 5% of the Additional Rent not so paidParagraph 1.1). Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five often (510) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day the date due until paid at the then maximum rate of interest not prohibited or made usurious by Law until paidLaw.
Appears in 3 contracts
Samples: Lsi Logic Corp, Lsi Logic Corp, Lsi Logic Corp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid; provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within ten (10) days after Tenant's receipt of such notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) 10 calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 3 contracts
Samples: Lease (Juniper Networks Inc), Lease (Juniper Networks Inc), Lease (Juniper Networks Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 54% of the Additional Rent not so paid; provided, however, that twice but only twice in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder with respect thereto if such installment of Base Monthly Rent or Additional Rent is received by Landlord within three (3) business days after Tenant’s receipt of such written notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 2 contracts
Samples: Disturbance Agreement (Palo Alto Networks Inc), By and Between (Palo Alto Networks Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Monthly Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if If any installment of Base such Monthly or Additional Rent is not received by Landlord from Tenant within five three (53) calendar days after the same becomes delinquent amount became due, Tenant shall immediately pay to Landlord a late charge in an amount equal to two thousand five hundred dollars ($2,500), except that there shall be no such penalty for the amount set forth first such occurrence in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidfirst lease year. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment any rent due under this Lease when duein a timely fashion, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five amount due hereunder is not paid on or before the third (53rd) calendar daysday following the due date, then, without prejudice to any of Landlord’s other rights and remedies and in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day the delinquent amount at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate from the date such amount became due until paid.
Appears in 2 contracts
Samples: Lease Agreement (Avago Technologies LTD), Lease Agreement (Avago Technologies Manufacturing (Singapore) Pte. Ltd.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Monthly Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this LeaseSublease Agreement, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of such Monthly Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes delinquent amount became due, Tenant shall immediately pay to Landlord a late charge in an amount equal to S$4,000; provided, however, that the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a aforementioned late charge in an amount equal will not apply to 5% of the Additional Rent not so paidfirst late payment, if any, during the period commencing on the Commencement Date and ending on the first anniversary thereof. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment any rent due under this Lease when dueSublease Agreement in a timely fashion, including the right to terminate this LeaseSublease Agreement. If any rent remains delinquent for a period in excess of five amount due hereunder is not paid on or before the fifth (55th) calendar daysday following the due date, then, without prejudice to any of Landlord’s other rights and remedies and in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day the delinquent amount at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate from the date such amount became due until paid.
Appears in 2 contracts
Samples: Sublease Agreement (Avago Technologies LTD), Sublease Agreement (Avago Technologies Manufacturing (Singapore) Pte. Ltd.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Lease (Redback Networks Inc), Marvell Technology Group LTD
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of If any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar business days after the same becomes dueLandlord has notified Tenant in writing that payment of such rent has not been received by Landlord, then Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 54% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord delinquent rent as liquidated damages for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment any rent due under this Lease when duein a timely fashion, including the any right to terminate this LeaseLease pursuant to Section 13.B(2). If any rent remains payable by Tenant hereunder is delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any such delinquent rent that is not so paid equal to the greater of (i) 5% in excess of the discount rate established by the Federal Reserve Bank of San Francisco as it may be adjusted from said fifth day at time to time, or (ii) the then maximum interest rate of interest not prohibited or made usurious permitted by Law law (“the Agreed Interest Rate”) following the date such amount became due until paid. The time provided under any notice provided to Tenant under this Section shall run concurrently with the time periods of any statutory notices required for termination of tenancies by Landlord, provided, however, that in all events Tenant shall be afforded the entire duration of any cure period described in this Lease in order to cure a default hereunder.
Appears in 2 contracts
Samples: Improvement Agreement (Echelon Corp), Lease (Echelon Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes duedue and Tenant fails to remedy within four (4) business days following receipt of written notice of such late payment from Landlord, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six business days after same becomes duedue and Tenant fails to remedy within four (4) business days following notice of such late payment from Landlord, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five six calendar days and Tenant fails to remedy within four (54) calendar daysbusiness days following receipt of written notice of such late payment from Landlord, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Industrial Space Lease (Corsair Gaming, Inc.), Corsair Gaming, Inc.
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent such rent is not received by Landlord from Tenant within five (5) calendar 10 days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the 10 percent (10%) of such delinquent rent (“Late Charge”); provided that no Late Charge Amount,” and if shall be assessed for the first such payment that may be late in any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidcalendar year. Landlord and Tenant agree that this late charge Late Charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or installment, nor shall this provision prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Leasein a timely fashion. If any rent remains rental installment should become delinquent for a period in excess of five (5) calendar days, 30 days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day when due at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate from the 30th day following the date such amount became due, until paid.
Appears in 2 contracts
Samples: Acceptance Agreement (Nevro Corp), Acceptance Agreement (Nevro Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) with six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum interest rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Industrial Space Lease (Viasystems Group Inc), Industrial Space Lease (Viasystems Group Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) calendar days after Landlord has given Tenant written notice that the same becomes is past-due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5% %) of the Base Monthly Rent or Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment Rent due under this Lease when due, including the right to terminate this Lease. If any rent Rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent Rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Lease (Quantenna Communications Inc), Lease (Quantenna Communications Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that ------------------------------------------- the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of such Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes Tenant has received written notice from Landlord that payment of such rent has not been received by Landlord and that such rent is past due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% four percent (4%) of the Additional Rent not so paidsuch delinquent rent. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In addition to said late charge, if any Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within thirty (30) days after Tenant has received written notice from Landlord that such Rent is past due, Landlord shall be entitled to interest on the past due amount from the thirty-first (31st) day until paid at the Agreed Interest Rate. In no event shall this provision for a late charge and interest be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment any rent due under this Lease when duein a timely fashion, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Improvement Agreement (Objective Systems Integrators Inc), Improvement Agreement (Objective Systems Integrators Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 I as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Lease (Adeza Biomedical Corp), Lease (Adeza Biomedical Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after Tenant's receipt of written notice from Landlord that the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within 10 calendar days after Tenant's receipt of written notice from Landlord that same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains remain delinquent for a period in excess of five (5) 20 calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 2 contracts
Samples: Acceptance Agreement (Atroad Inc), Acceptance Agreement (Atroad Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid; provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder with respect thereto if such installment Building D of Base Monthly Rent or Additional Rent is received by Landlord within three (3) business days after Tenant’s receipt of such written notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Samples: Lease (Aruba Networks, Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, at Landlord’s option, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when within five (5) calendar days after the same becomes due, at Landlord’s option, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Lease (Atheros Communications Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidpaid provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within five (5) days after Tenant’s receipt of such notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, . Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Lease (Allion Healthcare Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.. Notwithstanding the above, once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount, interest or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within five (5) days after Tenant’s receipt of such notice from Landlord. 1003283 v5/SF
Appears in 1 contract
Samples: Industrial Space Lease (Silicon Graphics International Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five ten (510) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the within ten (10) calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five ten (510) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day the date due until paid at the then maximum rate of interest not prohibited or made usurious by Law until paidLaw.
Appears in 1 contract
Samples: Lease (Silicon Image Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if If any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% six percent of the Additional Rent amounts due and not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, . Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid. Notwithstanding the foregoing, no such late charge shall be payable on the first such failure to pay Base Monthly Rent or Additional Rent in any twelve (12) month period unless Landlord shall have given Tenant notice of such failure to pay and Tenant fails to pay such Base Monthly Rent or Additional Rent within five (5) days of such notice.
Appears in 1 contract
Samples: Sublease (@Road, Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not Building 3 received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 53% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. Notwithstanding the foregoing, Landlord will waive the Late Charge Amount (a) with respect to the first two (2) late payments of Rent in any calendar year up to three (3) times during the initial Lease Term, and (b) with respect to one (1) additional late payment of Rent during the Extension Period, if applicable, in each case only if such installment of Rent is received by Landlord within three (3) business days after Tenant’s receipt of a late notice from Landlord. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Samples: By And (Kodiak Sciences Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and in addition if any Additional Rent is not received by Landlord when within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid. Regardless of the foregoing, Tenant shall be entitled to one (1) written five (5) day notice to cure during each calendar year prior to a late charge becoming due, and prior to interest accruing, and such Late Charge Amount shall not be due, nor shall interest accrue, if Tenant so cures within such five (5) day period.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Guardant Health, Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 53% of the Additional Rent not so paid; provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within ten (10) days after Tenant’s receipt of such notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five ten (510) calendar daysdays after notice from Landlord, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.. 3.5
Appears in 1 contract
Samples: Scientific Learning Corp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base such Monthly Rent is not received by Landlord from Tenant within five three (53) calendar days after the same becomes delinquent amount became due or if any Additional Rent is not received within three (3) days after written notice that the amount was not paid when due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5% %) of the Additional Rent not so paidsuch delinquent rent. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment any rent due under this Lease when duein a timely fashion, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five amount due hereunder is not paid on or before the third (53rd) calendar daysday following the due date, then, in addition to such late charge, Tenant shall pay to Landlord interest on the delinquent amount (but not on any rent that is not so paid from said fifth day late charge imposed with respect to such amount) at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate from the date such amount became due until paid.
Appears in 1 contract
Samples: Standard Lease Agreement (Socket Communications Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 53% of the Additional Rent not so paid; provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within ten (10) days after Tenant's receipt of such notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) 10 calendar daysdays after notice from Landlord, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Lease (Scientific Learning Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) ten calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) 10 calendar days, then, in addition to such late charge, Tenant 9 shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid. Notwithstanding the foregoing, once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent from Landlord, and the Late Charge Amount otherwise payable in connection with such delinquency shall be due only if such installment of Base Monthly Rent is not received by Landlord within ten (10) business days after Tenant's receipt of such notice from Landlord.
Appears in 1 contract
Samples: Va Linux Systems Inc
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% five percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) ten calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.. Late Charge and Interest on Rent in Default: Notwithstanding anything to the contrary in Section 3.4 of the Lease Form:
Appears in 1 contract
Samples: Avant Corp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) ten calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5%) of the amount set forth in Article 1 as the “Late Charge Amount,” Delinquent Amount and if any Additional Rent is not received by Landlord when the within ten calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5% %) of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) 10 calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the lesser of 10% per annum or the then maximum rate of interest not prohibited or made usurious by Law until paid.. Notwithstanding the foregoing, before assessing a late charge or later interest the first time in calendar year, Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge or interest if Tenant pays such delinquency within five (5) days thereafter. Tenant’s Initials /s/ GSL
Appears in 1 contract
Samples: Office Lease (PMC Sierra Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if If any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent amounts due and not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Acceptance Agreement (ArcSoft, Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges ------------------------------------------- that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base such Monthly or Additional Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes delinquent amount became due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% six percent (6%) of the Additional Rent not so paidsuch delinquent rent. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment any rent due under this Lease when duein a timely fashion, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five amount due hereunder is not paid on or before the tenth (510th) calendar daysday following the due date, then, without prejudice to any of Landlord's other rights and remedies and in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day the delinquent amount at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate from the date such amount became due until paid.
Appears in 1 contract
Samples: Lease Agreement (Pixtech Inc /De/)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs coats and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of such Base Monthly or Additional Rent is not received by Landlord from Tenant within five ten (510) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent (10%) of the Additional Rent not so paidsuch delinquent rent. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure Tenaxx'x xailure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when duein a timely fashion, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five thirty (530) calendar days, days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day when due at the then maximum applicable rate permitted by Law, but in no event higher than the prime interest rate charged by Bank of interest not prohibited or made usurious by Law America, from the thirtieth (30th) day following the date such amount became due until paid.
Appears in 1 contract
Samples: Bam Entertainment Inc
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Samples: Short Term Lease (Echelon Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and administration, collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five three (53) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” and if any Additional Rent is not received Percentage" multiplied by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidoverdue. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent Base Month Rent or Additional Rent remains delinquent for a period in excess of five three (53) calendar daysdays after the same becomes due, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth third (3rd) day at the then maximum interest rate of interest not prohibited or made usurious by Law thirty three percent (33%) per annum compounded monthly until paid. If Landlord receives a returned check for non-sufficient funds based on a check from Tenant, Tenant shall pay Landlord $100.00 for each such check. Tenant agrees to pay to Landlord $150 if Landlord serves or posts a Demand for Payment of Rent or Possession of Premises, or similar notice. Landlord and Tenant agree that these charges are a reasonable estimate of costs and expenses of Landlord that it would be difficult to determine the damages, and it is fair compensation to Landlord for loss suffered. Payments, when made, shall be first applied to all accrued interest to date of payment, then to any damages, penalties, fees (including, without limitation, Lender's attorney fees), costs or other charges accrued and payable pursuant to this Note or the Loan Documents, and the remainder applied to payment of principal hereunder. If there are any past due amounts owed by Tenant in addition to current amounts owed, Landlord shall first allocate any payments made by Tenant to such past due amounts regardless of any notation, instruction, direction or memo made by Tenant. However, Landlord may instead, in its sole and absolute discretion, allocate current payments to current amounts owed in part or in full.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes is due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 I as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes is due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% five percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, thenthan, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, except as hereinafter provided, if any installment of Base Monthly Rent is not received by Landlord landlord from Tenant within five ten (510) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten (10) calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Notwithstanding the foregoing, Landlord agrees to provide Tenant with a one time written notice of any default in the payment of Base Monthly Rent or Additional Rent and if Tenant agree that this late charge represents a reasonable estimate of shall cure such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time default within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar daysdays of delivery of such written notice, then, in addition no late charge shall be payable hereunder. Landlord shall not thereafter be obligated to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.deliver any
Appears in 1 contract
Samples: Introbiotics Phamaceuticals Inc
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five six (56) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six (6) calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5% %) of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. Notwithstanding the foregoing, not more than one (1) time in any twelve (12) month period, Landlord shall provide Tenant a three (3) day written notice to pay any late payment of Base Monthly Rent or Additional Rent before any late charge shall accrue therefor. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five ten (510) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten (10) calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five ten (510) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day the date due until paid at the then maximum rate of interest not prohibited or made usurious by Law until paidLaw.
Appears in 1 contract
Samples: Lease (Trident Microsystems Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and administration, collection costs costs, and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five zero (50) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” and if any Additional Rent is not received Percentage" multiplied by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidoverdue. The Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent Base Month Rent or Additional Rent remains delinquent for a period in excess of five zero (50) calendar daysdays after the same becomes due, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth third (3rd) day at the then maximum interest rate of interest not prohibited or made usurious by Law thirty-three percent (33.0%) per annum compounded monthly until paid. If Landlord receives a returned check for non-sufficient funds based on a check from Tenant, Tenant shall pay Landlord $100.00 for each such check. Xxxxxx agrees to pay to Landlord $150.00 if Landlord serves or posts a Demand for Payment of Rent or Possession of Premises or similar notice. Landlord and Xxxxxx agree that these charges are a reasonable estimate of costs and expenses of Landlord that it would be difficult to determine the damages, and it is fair compensation to Landlord for loss suffered. Payments, when made, shall be first applied to all accrued interest to date of payment, then to any damages, penalties, fees (including, without limitation, Lender's attorney fees), costs, or other charges accrued and payable pursuant to this Note or the Loan Documents, and the remainder applied to payment of principal hereunder. If there are any past due amounts owed by Tenant in addition to current amounts owed, Landlord shall first allocate any payments made by Tenant to such past due amounts regardless of any notation, instruction, direction, or memo made by Tenant. However, Landlord may instead, in its sole and absolute discretion, allocate current payments to current amounts owed in part or in full.
Appears in 1 contract
Samples: Lease
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall Building G immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 54% of the Additional Rent not so paid; provided, however, that twice but only twice in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder with respect thereto if such installment of Base Monthly Rent or Additional Rent is received by Landlord within three (3) business days after Tenant’s receipt of such written notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar business days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 54% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar business days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause the Landlord to incur certain costs and expenses not nor contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the which same becomes due, Tenant shall immediately pay to Landlord a late charge in an the amount equal to the amount set forth in Article 1 I as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord within three (3) calendar days after when the same amount becomes due, Tenant shall immediately pay to Landlord a late charge in an the amount of equal to 510% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid. Notwithstanding the foregoing, before assessing a late charge the first time in any twelve (12) month period, Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge if Tenant pays such delinquency within three (3) calendar days thereafter.
Appears in 1 contract
Samples: Lease (Vivus Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Holdover Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Holdover Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Notwithstanding the foregoing or anything to the contrary contained in this Lease, in no event shall such late charge be owed in connection with a late payment of the penalty payments specified in Section 2.7(a). Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent Holdover Rent or Additional Rent (including the penalty payments under Section 2.7(a)) remains delinquent for a period in excess of five ten (510) calendar days, then, in addition to such any applicable late charge, Tenant shall pay to Landlord interest on any rent sum that is not so paid from said fifth tenth day at the then rate of the lesser of (i) the Prime Rate as published most recently in the Wall Street Journal plus five percent (5%) and (ii) the maximum rate of interest not prohibited or made usurious by Law (the “Interest Rate”) until paid.
Appears in 1 contract
Samples: Lease (Electronics for Imaging Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. fix Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.to
Appears in 1 contract
Samples: Lease (Digital Microwave Corp /De/)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection Landlord Initial Tenant Initial costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after receipt of written notice that the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six calendar days after receipt of written notice that same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Virage Logic Corp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.to
Appears in 1 contract
Samples: Lease (Redback Networks Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid. Notwithstanding the above, once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount, interest or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within five (5) days after Tenant’s receipt of such notice from Landlord.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid; provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder with respect thereto if such installment of Base Monthly Rent or Additional Rent is received by Landlord within three (3) business days after Tenant’s receipt of such written notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.. Building C
Appears in 1 contract
Samples: Lease (Aruba Networks, Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and administration, collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five zero (50) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” and if any Additional Rent is not received Percentage" multiplied by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidoverdue. Landlord and Tenant Xxxxxx agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent Base Month Rent or Additional Rent remains delinquent for a period in excess of five zero (50) calendar daysdays after the same becomes due, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth first (1st) day at the then maximum interest rate of interest not prohibited or made usurious by Law thirty three percent (33%) per annum compounded monthly until paid. If Landlord receives a returned check for non-sufficient funds based on a check from Tenant, Tenant shall pay Landlord $100.00 for each such check. Xxxxxx agrees to pay to Landlord $150 if Landlord serves or posts a Demand for Payment of Rent or Possession of Premises, or similar notice. Landlord and Xxxxxx agree that these charges are a reasonable estimate of costs and expenses of Landlord that it would be difficult to determine the damages, and it is fair compensation to Landlord for loss suffered. Payments, when made, shall be first applied to all accrued interest to date of payment, then to any damages, penalties, fees (including, without limitation, Xxxxxx's attorney fees), costs or other charges accrued and payable pursuant to this Note or the Loan Documents, and the remainder applied to payment of principal hereunder. If there are any past due amounts owed by Tenant in addition to current amounts owed, Landlord shall first allocate any payments made by Tenant to such past due amounts regardless of any notation, instruction, direction or memo made by Tenant. However, Landlord may instead, in its sole and absolute discretion, allocate current payments to current amounts owed in part or in full.
Appears in 1 contract
Samples: Industrial Space Lease
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 53% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. Notwithstanding the foregoing, Landlord will waive the Late Charge Amount (a) with respect to the first two (2) late payments of Rent in any calendar year up to three (3) times during the initial Lease Term, and (b) with respect to one (1) additional late payment of Rent during the Extension Period, if applicable, in each case only if such installment of Rent is received by Landlord within three (3) business days after Tenant’s receipt of a late notice from Landlord. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Samples: Non Disturbance and Attornment Agreement (Kodiak Sciences Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to five percent (5% %) of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the lesser of ten percent (10%) and the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Lease Agreement (Biolase, Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five thirty (530) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of ten (10%) annual interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Adeza Biomedical Corp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidpaid provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within five (5) days after Tenant's receipt of such notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Lease (Cell Genesys Inc)
Late Charge and Interest on Rent in Default. Tenant Sublessee acknowledges that the late payment by Tenant Sublessee of any monthly installment of Base Monthly Rent or any Additional Rent rent will cause Landlord Sublessor to incur certain costs and expenses not contemplated under this LeaseSublease, the exact amounts amount, of which are extremely difficult or impractical to fix. Such The costs and expenses will include include, without limitation, the administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent rent that is due and unpaid is not received by Landlord Sublessor from Tenant Sublessee within five (5) calendar days after of the same becomes date Sublessor gives Sublessee written notice that such rent is due, Tenant . Sublessee shall immediately pay to Landlord Sublessor a late charge up to five percent (5%) of such delinquent rent, provided, however, that by giving Sublessee such written notice, Sublessor does not waive its rights against Sublessee under Code of Civil Procedure § 1161 et seq. to, inter alia, hold Sublessee in an amount equal to default and terminate the amount set forth in Article 1 as the “Late Charge Amount,” sublease by giving Sublessee three (3) days’ notice. Sublessor and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant Sublessee agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord Sublessor for the anticipated its loss Landlord would suffer suffered by reason of TenantSublessee’s failure to make timely payment. In no event shall this the provision for a late charge be deemed to grant to Tenant Sublessee a grace period or extension of time within which to pay any rental installment rent or prevent Landlord Sublessor from exercising any right or remedy available to Landlord Sublessor upon TenantSublessee’s failure to pay each rental installment any rent due under this Lease when duesublease in a timely fashion, including the right to terminate this LeaseSublease. If any rent remains delinquent for a period in excess of five thirty (530) calendar days, days then, in addition to such late charge, Tenant charge Sublessee shall pay to Landlord Sublessor interest on any rent that is not so paid from said fifth day when due at the then maximum rate of interest not prohibited or made usurious by Law twelve percent (12%) per annum from the thirtieth (30th) day following the date such amount became due until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are arc extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent or Additional Real is not received by Landlord landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the landlord within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% tell percent of the Additional Rent not so paid. paid Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from front exercising any right or remedy available to Landlord upon Tenanttenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, thenthan, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after receipt of written notice after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within six calendar days after receipt of written notice after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Virage Logic Corp
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five ten (510) calendar days after the same becomes due, Landlord may assess Tenant shall immediately pay to Landlord with a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten (10) calendar days after same becomes due, Landlord may assess Tenant shall immediately pay to Landlord with a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five ten (510) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at a rate equal to the greater of (a) 12%, or (b) Wellx Xxxme Plus Two, but no event greater than the then maximum rate of interest not prohibited or made usurious by Law law until paid.
Appears in 1 contract
Samples: Lease (Webex Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) ten calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) 10 calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.such
Appears in 1 contract
Samples: Simplex Solutions Inc
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if If any installment of Base Monthly Rent or Additional Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% six percent of the Additional Rent amounts due and not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, . Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid. Notwithstanding the foregoing, no such late charge shall be payable on the first such failure to pay Base Monthly Rent or Additional Rent in any twelve (12) month period unless Landlord shall have given Tenant notice of such failure to pay and Tenant fails to pay such Base Monthly Rent or Additional Rent within five (5) days of such notice.
Appears in 1 contract
Samples: Sublease (Va Software Corp)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article ARTICLE 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid; provided, however, that once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within ten (10) days after Tenant's receipt of such notice from Landlord. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) 10 calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Lease (Juniper Networks Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent (collectively, “Rent”) will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord agrees to give Tenant a grace period of five (5) additional days after delivery of notice for the first late payment of Base Monthly Rent or Additional Rent in any calendar year before imposing any Late Charge on Tenant. Landlord may revoke the additional grace period at any time after Tenant has been late on any payment due under the Lease more than three (3) times in any consecutive twenty-four (24) month period. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent Rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent Rent that is not so paid from said fifth (5th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Samples: Lease (LumiraDx LTD)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the lesser of (a) then maximum rate of interest not prohibited or made usurious by Law or (b) the prime rate (as set forth in the money rates section of The Wall Street Journal) plus 5% until paid.
Appears in 1 contract
Samples: Aviron
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 I as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within six calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, thenthan, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Samples: Acceptance Agreement (Upgrade International Corp /Fl/)
Late Charge and Interest on Rent in Default. Tenant Subtenant acknowledges that the late payment by Tenant Subtenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord Sublandlord to incur certain costs and expenses not contemplated under this LeaseSublease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord Sublandlord from Tenant within five (5) calendar days after Subtenant when the same becomes due, Tenant Subtenant shall immediately pay to Landlord Sublandlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord Sublandlord when the same becomes due, Tenant Subtenant shall immediately pay to Landlord Sublandlord a late charge in an amount equal to five percent (5% %) of the Additional Rent not so paid. Landlord Sublandlord and Tenant Subtenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord Sublandlord for the anticipated loss Landlord Sublandlord would suffer by reason of TenantSubtenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant Subtenant a grace period or extension of time within which to pay any rental installment or prevent Landlord Sublandlord from exercising any right or remedy available to Landlord Sublandlord upon TenantSubtenant’s failure to pay each rental installment due under this Lease Sublease when due, including the right to terminate this LeaseSublease. If any rent remains delinquent for a period in excess of five ten (510) calendar days, then, in addition to such late charge, Tenant Subtenant shall pay to Landlord Sublandlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid. Provided tenant named on the face of this Sublease or its Permitted Assignee is Subtenant under this Sublease, then Sublandlord agrees that once in any twelve (12) month period during the Sublease Term, Subtenant shall be entitled to written notice of delinquency in timely payment of Base Monthly Rent or Additional Rent from the Sublandlord, and Subtenant shall not be liable for any Late Charge Amount or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Sublandlord within ten (10) days after Subtenant’s receipt of such notice of delinquency from Sublandlord; provided, however, such right granted by Sublandlord to Subtenant shall immediately cease and terminate for the remainder of the Sublease Term (by its own volition and without any further action on the part of the Sublandlord) upon the delivery by Sublandlord of a third notice of delinquency by Subtenant. The above stated right to notice and extension of payment period shall be personal to tenant named on the face of this Sublease or its Permitted Assignee and shall not be transferable to any other party.
Appears in 1 contract
Samples: Juniper Networks Inc
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after Tenant's receipt of written notice from Landlord that the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten calendar days after same Tenant's receipt of written notice from Landlord that becomes due, . Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% five percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) twenty calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth twentieth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from form Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” ", and if any Additional Rent is not received by Landlord when the within fifteen (15) calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% three (3%) percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid, not to exceed twelve percent (12%).
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five eight (5) 8) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent amounts due and not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar business days after the same becomes due, Tenant such overdue amount shall immediately pay to Landlord incur a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if ”; provided, however, with regard to the first two (2) failures to timely pay in any Additional Rent is twelve (12) month period, Landlord will waive such late charge to the extent Tenant cures such failure to pay within five (5) business days following Tenant’s receipt of written notice from Landlord that the same was not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar daysbusiness days following notice that the same was not paid when due, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth (5th) business day at the then maximum rate of interest not prohibited or made usurious by Law Default Interest Rate until paid.
Appears in 1 contract
Samples: Lease (Personalis, Inc.)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after Tenant's receipt of written notice from Landlord that the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within ten calendar days after same Tenant's receipt of written notice from Landlord that becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% five percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) twenty calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth twentieth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts amount of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent such rent is not received by Landlord from Tenant within five (5) calendar 10 days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the tenpercent (10%) of such delinquent rent (“Late Charge”); provided, however, that no fee or other charge shall be imposed for the first late payment in any twelve (12) month period and Landlord will not assess a Late Charge Amount,” and if any Additional Rent so long as Tenant pays the delinquent amount to Landlord within five (5) days after written notice or delinquency of the late payment is not received delivered by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidTenant. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or installment, nor shall this provision prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Leasein a timely fashion. If any rent remains rental installment should become delinquent for a period in excess of five (5) calendar days, 30 days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day when due at the then maximum rate of interest not prohibited or made usurious by Law Agreed Interest Rate from the 30th day following the date such amount became due, until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar six business days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the within six business days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% ten percent of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated its loss Landlord would suffer suffered by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.any
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.to
Appears in 1 contract
Samples: Lease (Digital Microwave Corp /De/)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any a monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any an installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid; provided however, that once, but only once, in any twelve (12) month period during the Lease Term, Tenant shall not be liable for any Late Charge Amount or other late charge hereunder. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this LeaseLease as provided in Paragraph 12.2 hereof. If any rent remains delinquent for a period in excess of five thirty (530) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at a rate that is the lesser of (i) that rate quoted by Xxxxx Fargo Bank, N.T. & S.A. from time to time as its prime rate plus 5% or (ii) the then maximum rate of interest not prohibited or made usurious by Law law until paid.
Appears in 1 contract
Samples: Lease (Ultratech Stepper Inc)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or on any Additional Rent will cause Landlord to incur certain costs and expenses expense not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) six calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” ”, and if any Additional Rent is not received by Landlord when the within six calendar days after Tenant’s receipt of written notice from landlord that same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidamount set forth in Article 1 as the “Late Charge Amount”. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) six calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth sixth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include include, without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five fifteen (515) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” , and if any Additional Rent is not received by Landlord when within fifteen (15) days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paidLate Charge Amount. Landlord and Tenant agree that this these late charge represents charges represent a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. Notwithstanding the foregoing, Landlord agrees that Tenant shall not be required to pay the Late Charge Amount the first (1st) time during any calendar year during the Lease Term that Base Monthly Rent or Additional Rent is received late as provided in this Section 3.5. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or of extension of time within which to pay any rental Rent installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental Rent installment due under this Lease when due, including the right to terminate this Lease. If any rent Rent remains delinquent for a period in excess of five fifteen (515) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent Rent that is not so paid from said fifth fifteenth (15th) day at the then maximum rate of interest not prohibited or made usurious by Law Default Rate until paid.
Appears in 1 contract
Samples: Lease (Crawford & Co)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “"Late Charge Amount,” " and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s 's failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.to
Appears in 1 contract
Samples: Lease (Digital Microwave Corp /De/)
Late Charge and Interest on Rent in Default. Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. ThereforeTherefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth tenth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.
Appears in 1 contract