Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven (7) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are is extremely difficult and or impracticable to fixdetermine. Such costs include, without limitationbut are not limited to, processing and accounting charges and charges, late charges that may be imposed on Landlord by the terms of any encumbrance Security Instrument, and note secured by any encumbrance covering the Premiseslate charges and penalties that may be imposed due to late payment of Real Property Taxes. Therefore, if any installment of Fixed Base Monthly Rent or any payment of Additional Rent and or other payment rent due from Tenant hereunder is not received by Landlord within seven in good funds by the date that is three (73) business days of the date it becomes dueafter its due date, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the amount overdue amount as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties agree acknowledge that this late charge represents a fair and reasonable settlement against estimate of the costs that Landlord will incur by reason of Xxxxxx’s late paymentpayment by Tenant. Acceptance of any In no event shall this provision for a late charge shall not constitute be deemed to grant to Tenant a waiver grace period or extension of Tenant’s default with respect time within which to the overdue amount, pay any rent or prevent Landlord from exercising any of the other rights and remedies right or remedy available to Landlord. Every installment Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve thirty (1230) days after the same becomes due and payable shallthen, in addition to any Late Charge already paid by Tenantsuch late charge, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx for said interest, and Tenant shall pay to Landlord interest on any rent that is not paid when due at the same within five (5) days of receipt of Landlord’s billing. Notwithstanding Agreed Interest Rate following the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays date such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been became due until paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of XxxxxxTenant’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve twenty-four (1224) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes dueon which Landlord delivers notice to Tenant that such amount is past due , Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge; provided however, Landlord shall not be required to deliver such notice more than one (1) time in any twelve (12) month period (i.e. - the five percent (5%) late charge shall apply to any subsequent failure during such twelve (12) month period to pay an amount within five (5) days of the date due, without the requirement of additional notice to Tenant). The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s Tenant's late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s 's default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx bill Xxxant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s 's billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s Tenant's late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s 's default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after alter the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx bill Xxxant for said interest, and Tenant shall pay the same within five (5) business days of receipt of Landlord’s 's billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of XxxxxxTenant’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment by Tenant to Landlord of Fixed Monthly Rent or Additional any Rent will cause Landlord to incur costs not contemplated by this Leaseadditional costs, the exact amount of which are extremely difficult including administration and impracticable to fix. Such costs include, without limitationcollection costs, processing and accounting charges expenses, and late charges that may be imposed on increased debt service (the “Delinquency Costs”). If Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if has not received any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes when due, Tenant shall pay to Landlord on demand an additional sum a late charge (the “Late Charge”) equal to five percent (5%) of the overdue amount as a late chargedelinquent amount. The parties agree Tenant agrees that this late charge the Late Charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any estimate of the other rights and remedies available to Delinquency Costs that will be incurred by Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shallIn addition, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx for said interest, and Tenant shall pay the same within interest on all delinquent amounts from five (5) days after the date the amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of receipt (a) the maximum interest rate permitted by law or (b) three percent (3%) above the reference rate (the “Reference Rate”) publicly announced by Bank of Landlord’s billingAmerica, NA. Notwithstanding (or if Bank of America, NA. ceases to exist, the foregoinglargest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant shall not be assessed any late charge for agree that it is difficult to ascertain the first damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in each the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period of the Term so long period, then all Rent will automatically become due and payable quarterly in advance, until such time as Tenant pays shall have been current in such amount within five obligations for two (52) business days of Tenantconsecutive years, at which point monthly payments shall resume. Landlord shall make arrangements to allow Tenant to wire Base Rent and Additional Rent directly to Landlord’s receipt of written notice from Landlord that such amount has not been paidbank account on a regular basis.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment by Tenant to Landlord of Fixed Monthly Rent or Additional any Rent will cause Landlord to incur costs not contemplated by this Leaseadditional costs, the exact amount of which are extremely difficult including administration and impracticable to fix. Such costs include, without limitationcollection costs, processing and accounting charges expenses, and late charges that may be imposed on increased debt service (the “Delinquency Costs”). If Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if has not received any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven (7) business days of the date it becomes when due, Tenant shall pay to Landlord on demand an additional sum a late charge (the “Late Charge”) equal to five seven percent (57%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue delinquent amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoingabove, Tenant shall so long as no Event of Default is continuing, a Late Charge will not be assessed any late charge for the first against Tenant until after Landlord gives written notice to Tenant of a late payment once in each any given twelve (12) month period and Tenant has not cured that late payment within three (3) days after the written notice. Tenant agrees that the Late Charge represents a reasonable estimate of the Term so long Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) four percent (4%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as Tenant pays such amount a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within five any twelve (512) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paidmonth period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s Tenant's late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s 's default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s 's billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven ten (710) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of XxxxxxTenant’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Encino Terrace / Research Solutions, Inc. / MK / December 29, 2016 ____ ____ ____ ____ Initial Initial Initial Initial Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve ten (1210) business days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx bxxx Tenant for said interest, and Tenant shall pay the same within five ten (510) business days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of XxxxxxTenant’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx bxxx Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge or interest for the first two (2) late payment payments in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Initial Initial Initial Initial Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven (7) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of XxxxxxTenant’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) business days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx bxxx Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve twenty-four (1224) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven five (75) business days after Tenant's receipt of the date it becomes duewritten notice that any such amount has not been paid, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of Xxxxxx’s Tenant's late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s 's default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve (12) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s 's billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first late payment in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant Sublessee acknowledges that its late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord Sublessor to incur certain costs and expenses not contemplated by this LeaseSublease, including without limitation administrative and collection costs and processing and accounting expenses, the exact amount of which are is extremely difficult and impracticable or impractical to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. ThereforeAccordingly, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord paid within seven (7) business five days of after the date it becomes such Rent is due, Tenant Sublessee shall pay to Landlord on demand an additional sum Sublessor, in addition to the installment of Rent then owing, a late payment charge equal to five percent (5%) % of the overdue amount as of the delinquent installment, regardless of whether a late chargenotice of default or notice of termination has been given by Sublessor. The parties agree that this late charge represents a fair and reasonable settlement against estimate of the costs that Landlord will incur and expenses incurred by reason of Xxxxxx’s late paymentSublessor from, and is fair compensation to Sublessor for its loss suffered by, such nonpayment by Sublessee. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect In addition to the overdue amount5% late charge, any Rent or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord amounts owing under this Sublease which is are not paid within twelve (12) five days after the same becomes date they are due and payable shall, in addition to any Late Charge already paid by Tenant, shall thereafter bear interest at the rate (the "Interest Rate") which is the lesser of ten percent (10%a) that rate per annum announced from time to time by Sublessor as its prime or reference rate plus 5% per annum, or (b) the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billingmaximum rate permitted by law. Notwithstanding the foregoing, Tenant for one installment of Rent per calendar year, no late charge shall not be assessed any late charge until such time as Sublessor has provided written notice of the failure to pay Rent to Sublessee and such failure has continued for the first late payment in each twelve (12) month a period of the Term so long as Tenant pays such amount within five (5) two business days following such notice, but such failure shall still constitute an Event of Tenant’s receipt Default under Section 16.1(i) of written notice from Landlord that such amount has not been paidthis Sublease. Nothing in this Section shall relieve Sublessee of its obligation to pay any Rent at the time and in the manner provided by this Sublease or constitute a waiver of any default of Sublessee with regard to any nonpayment of Rent.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which are extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of Fixed Monthly Rent or Additional Rent and other payment due from Tenant hereunder is not received by Landlord within seven (7) business days of the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable settlement against the costs that Landlord will incur by reason of XxxxxxTenant’s late payment. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord which is not paid within twelve twenty (1220) days after the same becomes due and payable shall, in addition to any Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall xxxx Xxxxxx Tenant for said interest, and Tenant shall pay the same within five thirty (530) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall not be assessed any late charge for the first two (2) late payment payments in each twelve (12) month period of the Term so long as Tenant pays such amount within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paidis past-due.