Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. The late payment of any Rent will cause Sublandlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublandlord has not received any installment of Rent within five (5) days after that amount is due, Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("APPLICABLE INTEREST RATE") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublandlord and Subtenant recognize that the damage Sublandlord will suffer in the event of Subtenant's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublandlord will suffer. If a late charge becomes payable for any three (3) installments or Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sub-Sublandlord to incur additional costs, including the cost to maintain in full force the Master LeaseSublease, administration and collection costs, and processing and accounting expenses. If Sub-Sublandlord has not received any installment of Rent within five (5) days after that amount is due, Sub-Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sub-Sublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("APPLICABLE INTEREST RATEApplicable Interest Rate") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sub-Sublandlord and Sub-Subtenant recognize that the damage Sub-Sublandlord will suffer in the event of Sub-Subtenant's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sub-Sublandlord will suffer. If a late charge becomes payable for any three (3) installments or of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublandlord Sub-landlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublandlord Sub-landlord has not received any installment of Rent within five (5) days after that amount is due, Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublandlordSub-landlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("APPLICABLE INTEREST RATE"“Applicable Interest Rate”) equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublandlord Sub-landlord and Subtenant recognize that the damage Sublandlord Sub-landlord will suffer in the event of Subtenant's ’s failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublandlord Sub-landlord will suffer. If a late charge becomes payable for any three (3) installments or of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublandlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublandlord has not received any installment of Rent within five ten (510) days after that amount is due, Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("APPLICABLE INTEREST RATE"Applicable Interest Rate) equal to the greater of (a) five two percent (52%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublandlord and Subtenant recognize that the damage Sublandlord will suffer in the event of Subtenant's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublandlord will suffer. If a late charge becomes payable for any three (3) installments or Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublandlord Sublessor to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublandlord Sublessor has not received any installment of Rent within five (5) days after that amount is due, Subtenant Sublease will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublandlordSublessor. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("APPLICABLE INTEREST RATEApplicable Interest Rate") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublandlord Sublessor and Subtenant Sublessee recognize that the damage Sublandlord Sublessor will suffer in the event of SubtenantSublessee's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublandlord Sublessor will suffer. If a late charge becomes payable for any three (3) installments or of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublandlord Sublessor to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublandlord Sublessor has not received any installment of Rent within five (5) days after that amount is due, Subtenant Sublessee will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublandlordSublessor. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("APPLICABLE INTEREST RATEApplicable Interest Rate") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublandlord Sublessor and Subtenant Sublessee recognize that the damage Sublandlord Sublessor will suffer in the event of SubtenantSublessee's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublandlord Sublessor will suffer. If a late charge becomes payable for any three (3) installments or of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.