Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. Lessee acknowledges that late payment by Lessee to Owner of Advanced Royalty Payments, Royalty or other payment or sums due from Lessee will cause Owner to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Accordingly, if any Advanced Royalty Payment, Royalty or any other amount due and payable by Lessee is not received by Owner within ten (10) days after such amount is due, then Lessee shall pay to Owner a late fee equal to ten percent (10%) of such overdue amount. The parties agree that such late fee represents a fair and reasonable estimate of the costs Owner will incur by reason of any late payment by Lessee. Owner acceptance of such late charge shall not constitute a waiver of Lessee’s default with respect to such overdue amount, nor prevent Owner from exercising any of Owners other rights and remedies granted under this Agreement. If any Advanced Royalty Payment, Royalty or other amount payable by Lessee remains delinquent for a period in excess of thirty (30) days, Lessee shall pay to Owner, in addition to the late payment, interest from and after the due date based on the Interest Rate. Lessee’s payment of such interest shall not excuse or cure any default by Lessee. If any Advanced Royalty Payments, Royalty or other stock issuances or amount payable by Lessee remains delinquent for a period in excess of thirty (30) days, then this Agreement shall be null and void and Lessee shall have no rights, titles or interests to this Agreement or the Property.

Late Charge and Interest. Lessee acknowledges that late payment by Lessee to Owner of Advanced Royalty Payments, Royalty or other payment or sums due from Lessee will cause Owner to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Accordingly, if any Advanced Royalty Payment, Royalty or any other amount due and payable by Lessee is not received by Owner within ten thirty (1030) days after such amount is due, then Lessee shall pay to Owner a late fee equal to ten five percent (105%) of such overdue amount. The parties agree that such late fee represents a fair and reasonable estimate of the costs Owner will incur by reason of any late payment by Lessee. Owner acceptance of such late charge shall not constitute a waiver of Lessee’s default with respect to such overdue amount, nor prevent Owner from exercising any of Owners other rights and remedies granted under this Agreement. If any Advanced Royalty Payment, Royalty or other amount payable by Lessee remains delinquent for a period in excess of thirty one hundred and twenty (30120) days, Lessee shall pay to Owner, in addition to the late payment, interest from and after the due date based on the Interest Rate. Lessee’s payment of such interest shall not excuse or cure any default by Lessee. If any Advanced Royalty Payments, Royalty or other stock issuances or amount payable by Lessee remains delinquent for a period in excess of thirty one hundred and twenty (30120) days, then this Agreement shall be null and void and Lessee shall have no rights, titles or interests to this Agreement or the Property.

Late Charge and Interest. Lessee acknowledges that late payment by Lessee to Owner of Advanced If any Advance Royalty Payments, Royalty Payments or other payment or sums due from Lessee will cause Owner to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Accordingly, if any Advanced Royalty Payment, Royalty or any other amount due and Royalties payable by Lessee is under this Agreement are not received by Owner within ten (10) days after such amount is due, then Lessee shall pay to Owner a late fee equal to ten percent (10%) of such overdue amount. The parties agree that such late fee represents a fair and reasonable estimate of the costs Owner will incur by reason of any late payment by Lessee. Owner Prior to the payment of such delinquent, late or overdue Advance Royalty Payment or Royalty, Owner’s acceptance of such late charge shall not constitute a waiver of Lessee’s default with respect to such overdue amount, nor prevent Owner from exercising any of Owners Owner’s other rights and remedies granted under this Agreement. If any Advanced Royalty Payment, Payments or Royalty or other amount payments payable by Lessee remains remain delinquent for a period in excess of thirty (30) days, Lessee shall pay to Owner, in addition to the late payment, interest from and after on such delinquent amounts at the due date based rate of 18% per annum on the Interest Rateamount due from the date the amounts became delinquent, late or overdue and during the period such amounts remain unpaid. Prior to the payment of such delinquent, late or overdue Advance Royalty Payment or Royalty, Lessee’s payment of such interest shall not excuse or cure any default by Lessee. If any Advanced Royalty Payments, Royalty or other stock issuances or amount late payments payable by Lessee remains under this Section 4.4 remain delinquent for a period in excess of thirty (30) days, then this Agreement shall be immediately terminated, null and void and Lessee shall have no rights, titles or interests to this Agreement or the Property.

Late Charge and Interest. Lessee acknowledges that late payment by Lessee to Owner of Advanced Royalty Rental Payments, Royalty or other payment or sums due from Lessee will cause Owner to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Accordingly, if any Advanced Royalty Rental Payment, Royalty or any other amount due and payable by Lessee is not received by Owner within ten (10) days after such amount is due, then Lessee shall pay to Owner a late fee charge equal to ten percent (10%) of such overdue amount. The parties agree that such late fee charge represents a fair and reasonable estimate of the costs Owner will incur by reason of any late payment by Lessee. Owner Owner’s acceptance of such late charge shall not constitute a waiver of Lessee’s default with respect to such overdue amount, nor prevent Owner from exercising any of Owners Owner’s other rights and remedies granted under this Agreement. If any Advanced Royalty Rental Payment, Royalty or other amount payable by Lessee remains delinquent for a period in excess of thirty (30) days, Lessee shall pay to Owner, Owner in addition to the late payment, interest from and after the due date based on at the Interest Rate. Lessee’s payment of such interest shall not excuse or cure any default by Lessee. If any Advanced Royalty Rental Payments, Royalty or other stock issuances or amount payable by Lessee remains delinquent for a period in excess of thirty (30) days, then this Agreement shall be null and void and Lessee shall have no rights, titles or interests to this Agreement or the Property.

Late Charge and Interest. Lessee acknowledges that late payment by Lessee to Owner Lessor of Advanced Royalty Payments, Royalty or other payment or sums due from Lessee will cause Owner Lessor to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Accordingly, if any Advanced Royalty Payment, Royalty or any other amount due and payable by Lessee is not received by Owner Lessor within ten (10) days after such amount is due, then Lessee shall pay to Owner Lessor a late fee equal to ten percent (10%) of such overdue amount. The parties agree that such late fee represents a fair and reasonable estimate of the costs Owner Lessor will incur by reason of any late payment by Lessee. Owner Lessor acceptance of such late charge shall not constitute a waiver of Lessee’s default with respect to such overdue amount, nor prevent Owner Lessor from exercising any of Owners Lessors other rights and remedies granted under this Agreement. If any Advanced Royalty Payment, Royalty or other amount payable by Lessee remains delinquent for a period in excess of thirty (30) days, Lessee shall pay to OwnerLessor, in addition to the late payment, interest from and after the due date based on the Interest Rate. Lessee’s payment of such interest shall not excuse or cure any default by Lessee. If any Advanced Royalty Payments, Royalty or other stock issuances or amount payable by Lessee remains delinquent for a period in excess of thirty (30) days, then this Agreement shall be null and void and Lessee shall have no rights, titles or interests to this Agreement or the Property.