Common use of Late Charge; Interest Clause in Contracts

Late Charge; Interest. If Tenant fails to make any payment of --------------------- Rent or any other sums or amounts to be paid by Tenant hereunder on or before the date such payment is due and payable and such amount remains unpaid for a period of five (5) days thereafter, or such longer time as required by the law of the State in which the Premises are located, Tenant shall pay to Landlord an administrative late charge of five percent (5%) of the amount of such payment or such lesser amount then allowable under the laws of the State in which the Premises are located. In addition, if such amount remains past due for more than thirty (30) days following its due date, such past due payment shall bear interest at the lesser of twelve percent (12%) or the maximum interest rate then allowable under the laws of the State in which the Premises are located from the date such payment became due to the date of payment thereof by Tenant. Such late charge and interest shall constitute additional rent and shall be due and payable with the next installment of Rent due hereunder.

Late Charge; Interest. If Tenant fails to make any payment of --------------------- Rent or any other sums or amounts to be paid by Tenant hereunder on or before the date such payment is due and payable and such amount remains unpaid for a period of five (5) days thereafter, or such longer time as required by the law of the State state in which the Premises are premises is located, Tenant shall pay to Landlord an administrative late charge of five percent (5%) of the amount of such payment or such lesser amount then allowable under the laws of the State in which the Premises are is located. In addition, addition if such amount remains past due for more than thirty (30) days following its due date, such past due payment shall bear interest at the lesser of twelve percent (12%) or the maximum interest rate then allowable under the laws of the State in which the Premises are is located from the date such payment became due to the date of payment thereof by Tenant. Such late charge and interest shall constitute additional rent and shall be due and payable with the next installment of Rent due hereunder.

Late Charge; Interest. If Tenant fails to make any payment of --------------------- Rent or any other sums or amounts to be paid by Tenant hereunder on or before the date such payment is due and payable and such amount remains unpaid for a period of five (5) days thereafter, or such longer time as required by the law of the State Sate in which the Premises are located, Tenant shall pay to Landlord an administrative late charge of five percent (5%) of the amount of such payment or such lesser amount then allowable under the laws of the State in which the Premises are located. In addition, if such amount remains past due for more than thirty (30) days following its due date, such past due payment shall bear interest at the lesser of twelve percent (12%) or the maximum interest rate then allowable under the laws of the State in which the Premises are located from the date such payment became due to the date of payment thereof by Tenant. Such late charge and interest shall constitute additional rent and shall be due and payable with the next installment of Rent due hereunder.