Common use of Late Charge; Interest Clause in Contracts

Late Charge; Interest. If Tenant fails to pay any Rent or Additional Charge due hereunder within ten (10) days after the due date, a late charge equal to twenty five dollars ($25.00) plus one percent (1%) of the unpaid balance shall both be assessed and be immediately due and payable. In addition, interest shall accrue at the rate of one percent (1%) per month on any Rent or Additional Charge that is not paid when due. If Tenant defaults in making any payment of Rent or Additional Charges, Landlord shall have the right to require that subsequent Rent or Additional Charges payments be made by cashiers or certified check.

Late Charge; Interest. If Tenant fails to pay any Rent or Additional Charge amount due hereunder within ten (10) days after of the due date, a late charge equal to twenty five dollars ($25.00) plus one percent (15%) of the unpaid balance amount shall both be assessed and be immediately due and payable. Such late charge shall be reimposed on the first day of each subsequent month that such payment remains outstanding. In addition, interest shall accrue at the rate of one percent (1%) per month on any Rent base or Additional Charge that additional rent which is not paid when duedue at the lesser of (a) the maximum interest rate allowed by applicable law or (b) eighteen percent (18%) per annum. If Tenant defaults in making any payment of Rent or Additional Chargesrent payment, Landlord shall have the right to require that subsequent Rent or Additional Charges rent payments be made by cashiers or certified check.