Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).
Appears in 3 contracts
Samples: Sub Sublease Agreement, Sublease Agreement (Responsys Inc), Sub Sublease Agreement (Responsys Inc)
Late Charge. If Subtenant Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (ias defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to ten percent (10%) fails to pay of any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same Rent which is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease not received by Landlord within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the due date the same is due, no for such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateinstallment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as reason of late payment by Tenant. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Tenant a consent by Sublandlord grace period or extension of time within which to pay any late payment, nor a waiver installment of Sublandlord’s Rent or prevent Landlord from exercising any right or remedy available to insist Landlord upon timely payments at any time, nor a waiver Tenant's failure to pay such installment of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest from at the annual rate set forth in Paragraph 34 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid at the Interest Rate (as defined in the Master Lease)full.
Appears in 2 contracts
Samples: Net Lease Agreement (Laserscope), Net Lease Agreement (Laserscope)
Late Charge. If Subtenant (i) fails Notwithstanding any other provision of this Lease to pay any installment the contrary, Tenant hereby acknowledges that late payment to Landlord of Base Rental, Subtenant’s Share of the Operating Expenses AdjustmentRent, or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If any Rent or other recurring charges (collectively, “Recurring Charges”), sums due from Tenant are not received by Landlord or by Landlord’s designated agent within five (5) days after receipt of written notice from Sublandlord that the same is duetheir due date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary overdue amount. Landlord and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties Tenant hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred cost that Landlord will incur by Sublandlord reason of Tenant’s late payment and shall not be construed as a result penalty. Landlord’s acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordTenant’s right default with respect to insist upon timely payments at such overdue amount or stop Landlord from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the other rights and remedies granted under this Lease. Notwithstanding the foregoing, Landlord will not assess a late charge described above, if until Landlord has given written notice of such late payment for the first late payment in any twelve (12) month period and after Tenant has not paid when due, shall bear interest cured such late payment within five (5) days from receipt of such notice. No other notices will be required during the due date until paid at the Interest Rate following twelve (as defined in the Master Lease)12) months for a late charge to be incurred.
Appears in 2 contracts
Samples: Lease Agreement (Cloudflare, Inc.), Lease Agreement (Cloudflare, Inc.)
Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay Landlord of Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice sum due from Sublandlord that the same is due, Tenant shall not be received by Landlord or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease Landlord’s designee within ten (10) days after receipt of Sublandlord’s invoicesuch amount shall be due, then, Subtenant without any requirement for notice to Tenant, Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) 6% of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateoverdue amount. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as a result reason of late payment by Xxxxxx. Acceptance of such late paymentcharge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Such In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Rent, then Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Section 4.1 or any other provision of this Lease to the contrary. Notwithstanding anything contained herein to the contrary, late charges shall not be deemed a consent by Sublandlord payable to the extent such payment would violate any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)applicable usury or similar law.
Appears in 2 contracts
Samples: Lease Agreement, Retail Lease
Late Charge. If Sub-Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sub-Sublandlord that the same is due, or (ii) fails to pay any other amount for which Sub-Subtenant is obligated under this Sub-Sublease within ten (10) days after receipt of Sub-Sublandlord’s invoice, then, Sub-Subtenant shall pay to Sub-Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Sub-Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Sub-Subtenant acknowledges that late payments will cause Sub-Sublandlord to incur costs not contemplated by this Sub-Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sub-Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sub-Sublandlord to any late payment, nor a waiver of Sub-Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sub-Sublandlord is entitled hereunder. In addition, all amounts payable by Sub-Subtenant to Sub-Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).
Appears in 2 contracts
Samples: Sub Sublease Agreement, Sub Sublease Agreement (Responsys Inc)
Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Lessee hereby acknowledges that late payments payment by Lessee to Lessor of rent or other sums due hereunder will cause Sublandlord Lessor to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are will be extremely difficult to ascertain. Such costs include but are not limited to, processing and impracticable accounting charges, and late charges which may be imposed on Lessor by the terms of any mortgage or any trust deed covering the Premises. Accordingly, if any installment of rent or any other sum due from Lessee shall not be received by Lessor or Lessor's designee within nine (9) days after such amount shall be due, then, without any requirement for notice to calculateLessee, Lessee shall pay to Lessor a late charge equal to ten percent (10%) of such overdue amount. The parties hereby agree that the such late charge described above represents a fair [page break in original] and reasonable estimate of the extra costs incurred Lessor will incur by Sublandlord as a result reason of late payment by Lessee. Acceptance of such late payment. Such late charge by Lessor shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of Sublandlord’s right Lessee's default with respect to insist upon timely payments at such overdue amount nor prevent Lessor from exercising any time, nor a waiver of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In addition, all amounts the event that a late charge is payable by Subtenant to Sublandlord hereunder, exclusive whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Paragraph 5 or any other provision of this Lease to the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)contrary.
Appears in 2 contracts
Samples: Office Lease Agreement (Advanced Media Inc), Assignment of Lease Agreement (Progressive Training, Inc.)
Late Charge. If Subtenant (i) Tenant fails to pay any installment of Base RentalBasic Rent, Subtenant’s Share of the Operating Expenses Adjustment, additional rent or other changes or otherwise fails to make any other recurring charges (collectively, “Recurring Charges”), payment for which Tenant is obligated under this Lease within five (5) days after Tenant’s receipt of written notice from Sublandlord that the Tenant failed to pay same is when due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount so payable; provided, however, that if Subtenant Tenant fails twice in any calendar year to pay any Recurring Charge on the date the same is dueinstallment of Basic Rent or additional rent when due more than three (3) times in any twelve (12) month period, Landlord shall no such prior written longer be required to give Tenant notice shall be necessary and before imposing the late charge and Tenant shall automatically and without notice apply pay to each successive Recurring Charge Landlord a late charge equal to five percent (5%) of the amount due for any amount not paid on within five (5) days after the date due during such calendar yeardue. Subtenant Tenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Landlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord Landlord to any late payment, nor a waiver of SublandlordLandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord Landlord is entitled hereunder. In addition, all amounts payable by Subtenant Tenant to Sublandlord Landlord hereunder, exclusive of the late charge change described above, if not paid when within five (5) days after such amounts are due, shall bear interest from the due date until paid at the lesser of (i) the rate of ten percent (10%) per annum or (ii) the maximum rate of interest permitted to be collected by the Landlord by law (“Interest Rate (as defined in the Master LeaseRate”).
Appears in 2 contracts
Samples: Lease Agreement (Redwood Trust Inc), Lease Agreement (Redwood Trust Inc)
Late Charge. If Subtenant (i) fails Lessee hereby acknowledges that late payment by Lessee to pay Lessor of rent and other sums due hereunder shall cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Lessor by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice sum due from Sublandlord that the same is due, Lessee shall not be received by Lessor or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease Lessor’s designee within ten (10) days after receipt of Sublandlord’s invoicesaid amount is past due, then, Subtenant then Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate$750.00. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Lessor will incur by Sublandlord as a result reason of late payment by Lessee. Acceptance of such late payment. Such late charge and any interest thereon by Lessor shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordLessee’s right default with respect to insist upon timely payments at any time, nor such overdue amount unless Lessee is otherwise advised by Lessor. Such acceptance unless it constitutes a waiver shall not prevent Lessor from exercising any of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In additionAdditionally, all amounts payable by Subtenant to Sublandlord hereunder, exclusive any payment of money due hereunder which is not paid within thirty (30) days of the late charge described above, if not paid when due, due date shall bear interest from the due date until paid at the Interest Rate rate of 18% per annum (as defined in the Master Leaseor highest lawful rate, if less).
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or Notwithstanding any other recurring charges (collectivelyprovision of this Lease, “Recurring Charges”)Tenant hereby acknowledges that late payment to Landlord of Rent or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If any Rent or other sums due from Tenant are not received by Landlord or by Landlord’s designated agent within five (5) days after receipt of written notice from Sublandlord that the same date such Rent or other sum is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five six percent (56%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in plus any calendar year attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary Rent and/or other charges when due hereunder. Landlord and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties Tenant hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred cost that Landlord will incur by Sublandlord as a result reason of Tenant’s late payment. Landlord’s acceptance of such late paymentcharges shall not constitute a waiver of Tenant’s default with respect to such overdue amount or estop Landlord from exercising any of the other rights and remedies granted under this Lease. Such Notwithstanding the foregoing, Landlord will not assess a late charge against Tenant for the first late payment in any twelve (12) month period so long as Tenant pays the Rent due within three (3) days after written notice from Landlord that such Rent is past due. Landlord shall not be deemed required to provide any further notices to Tenant during the following twelve (12) months for a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).to be incurred. Initials: Landlord GC Tenant SD
Appears in 2 contracts
Samples: Lease Agreement (Aerohive Networks, Inc), Lease Agreement (Aerohive Networks, Inc)
Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or Notwithstanding any other recurring charges (collectivelyprovision of this Lease, “Recurring Charges”)Tenant hereby acknowledges that late payment to Landlord of Rent or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If any Rent or other sums due from Tenant are not received by Landlord or by Landlord's designated agent within five (5) days after receipt of written notice from Sublandlord that the same date such Rent or other sum is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in plus any calendar year attorneys' fees incurred by Landlord by reason of Tenant's failure to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary Rent and/or other charges when due hereunder. Landlord and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties Tenant hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred cost that Landlord will incur by Sublandlord as a result reason of Tenant's late payment. Landlord's acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Tenant's default with respect to insist upon timely payments at such overdue amount or estop Landlord from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the other rights and remedies granted under this Lease. Notwithstanding the foregoing, before assessing a late charge described abovethe first time in any twelve (12) month period, if not paid when Landlord shall provide Tenant written notice of the Rent or other amount due, and shall bear interest from the waive such late charge if Tenant pays such Rent or other amount due date until paid at the Interest Rate within five (as defined in the Master Lease).5) days thereafter. Initials: Landlord /s/ GC Tenant /s/ ER
Appears in 2 contracts
Samples: Lease Agreement (Silk Road Medical Inc), Lease Agreement (Silk Road Medical Inc)
Late Charge. If Subtenant (i) Lessee fails or refuses to timely pay any installment of Base Rental, Subtenant’s Share Rent when due and said non-payment continues for a period of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt following written notification of Sublandlord’s invoicenon-payment by Lessor, thenLessor, Subtenant at Lessor's option, shall pay be entitled to Sublandlord an additional collect a late charge equal to of five percent (5%) of the total amount payable; provided, however, that if Subtenant of the late payment to compensate Lessor for the additional expense involved in handling delinquent payments and not as interest. If Lessee fails twice in any calendar year or refuses to timely pay any Recurring Charge installment of Rent within 30 days of its due date, Lessor, at Lessor's option, shall be entitled to collect interest on the delinquent payment(s) from the due date thereof at the same rate of the lesser of 18% per annum or the maximum then allowed by law. If the payment of a late charge required by this Section is duefound to constitute interest notwithstanding the contrary intention of Lessor and Lessee, no such prior written notice shall be necessary and the late charge shall automatically be limited to the maximum amount of interest that lawfully may be collected by Lessor under applicable law, and without notice apply if any payment is determined to each successive Recurring Charge not paid on the date due during exceed such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Subleaselawful amount, the exact amount excess shall be applied to any unpaid Rent then due and payable hereunder and/or credited against the next succeeding installment of which costs are extremely difficult and impracticable Rent payable hereunder. If all Rent payable hereunder has been paid in full, any excess shall be refunded to calculateLessee. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Lessee shall reimburse Lessor for any processing fees charged to Lessor as a result of such late paymentLessee's checks having been returned for insufficient funds. Such late The Lessee shall pay to Lessor an additional charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver three percent (3%) of the amount of any remedies check or bank draft given by Lessee to Lessor in satisfaction (in whole or in part) of any obligation hereunder which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not honored or paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)first presented to Lessee's bank by Lessor.
Appears in 1 contract
Samples: Lease Agreement (Haht Commerce Inc)
Late Charge. If Subtenant (i) Sublessee fails to pay Sublessor any installment of Base Rental, Subtenant’s Share of amount due hereunder on or before the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same date when such payment is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Sublessee shall pay to Sublandlord an additional Sublessor upon demand a late charge equal to five percent (5%) of the total amount payable; provideddelinquent amount, howeverprovided that with respect the imposition of such late charge, that if Subtenant fails twice Sublessee shall be entitled to prior written notice and a grace period of five (5) days for the first (and only the first) late payment of Rent in any calendar year to pay any Recurring Charge on during the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateTerm. The parties agree that the foregoing late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result cost and expense that Sublessor will incur in processing each delinquent payment, the exact amount of such late paymentcosts being extremely difficult and impractical to determine. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Sublessor by the terms of Master Lease. Acceptance of any late charge or interest shall not be deemed constitute a consent by Sublandlord waiver of Sublessee’s default with respect to the overdue sum or prevent Sublessor from exercising any of its other rights and remedies under this Sublease. In addition to the foregoing late charge, which is intended to defray Sublessor’s costs resulting from a late payment, nor a waiver of Sublandlord’s right any payment from Sublessee to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if Sublessor not paid when due, due shall at Sublessor’s option bear interest from the date due date until paid to Sublessor by Sublessee at the Interest Rate (as defined in the Master Leasebelow).
Appears in 1 contract
Samples: Sublease (Upwork Inc.)
Late Charge. If Sub-Subtenant (i) fails to pay any installment Base Rent or Additional Rent when due, to help defray the additional cost to Sub-Sublandlord for processing such late payments, Sub-Subtenant shall pay to Sub-Sublandlord on demand a late charge equal to two (2%) percent of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), such installment. Such amount if not received within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails shall also bear interest as provided in Section 22(d). Sub-Subtenant's failure to pay any other such amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the a material breach of this Sub-Sublease. The provision for such late charge shall automatically be in addition to all of Sub-Sublandlord's other rights and without notice apply remedies hereunder, at law or equity and shall not be construed as liquidated damages. At no time shall Sub-Subtenant be obligated or required to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that make any interest payment with respect to late fees or defaulted Rent payments will cause at a rate which could subject Sub-Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord either civil or criminal liability as a result of being in excess of the maximum rate which Sub-Subtenant is permitted by law to contract or agree to pay. If by the terms of this Sub-Sublease, Sub-Subtenant is at any time required or obligated to pay interest arising out of late payment fees or defaulted rent payments at a rate in excess of such late payment. Such late charge maximum rate, the rate of interest under this Sub-Sublease shall not be deemed a consent by Sublandlord to any late payment, nor a waiver be immediately reduced to such maximum rate and interest payable hereunder shall be computed at such maximum rate and the portion of Sublandlord’s right all prior interest payments in excess of such maximum rate shall be applied and shall be deemed to insist upon timely have been payments at any time, nor a waiver in reduction of any remedies to which Sublandlord is entitled rent due hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).
Appears in 1 contract
Late Charge. If Subtenant (i) fails Late payment by Tenant to pay any installment Landlord of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date sums due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are is extremely difficult to ascertain. Such costs include, but are not limited to, processing and impracticable accounting charges, attorneys’ charges, late payment charges on a mortgage, and so forth. In the event that Tenant shall fail to calculate. The parties pay Rent or any other sums owing under this Lease when due and such failure continues for five (5) days after written notice from Landlord to Tenant, or if for a second or subsequent time in any calendar year Tenant fails to pay any Rent or any other sums owing under this Lease when due, Tenant shall pay to Landlord a service charge in an amount equal to 5% of such amount not paid when due which Landlord and Tenant agree that the late charge described above represents is not a fair and penalty but is a reasonable estimate of the extra costs incurred by Sublandlord expenses Landlord may incur as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to In the event of any late paymentpayment of Rent or other sums due under this Lease, nor a waiver of Sublandlord’s right in addition to insist upon timely payments at any timethe foregoing service charge, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, amount unpaid shall bear interest at the higher of (i) Bank of America’s “reference rate” plus 6% per annum, or (ii) 12% per annum, but in no event shall such interest exceed the maximum rate allowed by law. Such interest shall be calculated from the date such amount was due date and payable until paid at the Interest Rate (same shall have been fully paid. Further, if Landlord incurs any reasonable attorneys’ fees in excess of $250 with respect to all Defaults in any calendar year, then Tenant shall pay as defined an additional late charge the sum of all such reasonable attorneys’ fees in excess of $250. Except as otherwise expressly provided for in this Section 22.1, the Master Lease)foregoing late payment charges and interest shall accrue without the need for Landlord to give Tenant any reminder notice or Default notice as to the unpaid amount owing. Payment of the foregoing amounts shall not excuse or cure Tenant’s Default.
Appears in 1 contract
Samples: Lease (Lpath, Inc)
Late Charge. If Subtenant (i) Tenant fails to pay any installment when due Rent or other amounts ----------- due Landlord hereunder, such unpaid amounts shall bear interest for the benefit of Base RentalLandlord from the due date until paid at a rate equal to the lesser of fifteen percent (15%) per annum or the maximum rate permitted by law, Subtenant’s Share from the thirtieth (30th) day after the date due to the date of the Operating Expenses Adjustmentpayment. In addition to such interest, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord a late charge in an amount equal to five percent (5%) of any installment of Rent and any other amounts due Landlord if not paid in full on or before the total fifth (5th) day after Landlord notifies Tenant in writing that such Rent or other amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Tenant acknowledges that late payments payment by Tenant to Landlord of rental or other amounts due hereunder will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, including, without limitation, processing and accounting charges and late charges which may be imposed on Landlord by the terms of any loan relating to the Property. Tenant further acknowledges that it is extremely difficult and impractical to fix the exact amount of which such costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above set forth in this Paragraph 3.6 represents a fair and reasonable estimate thereof. Acceptance of the extra costs incurred by Sublandlord as a result of such late payment. Such any late charge by Landlord shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Tenant's default with respect to insist upon timely payments at any timeoverdue rental or other amounts, nor shall such acceptance prevent Landlord from exercising any other rights and remedies available to it. Acceptance of rent or other payments by Landlord shall not constitute a waiver of late charges or interest accrued with respect to such rent or other payments or any remedies to which Sublandlord is entitled hereunder. In additionprior installments thereof, all amounts payable nor of any other defaults by Subtenant to Sublandlord hereunderTenant, exclusive of the late charge described abovewhether monetary or non-monetary in nature, if not paid when due, shall bear interest from the due date until paid remaining uncured at the Interest Rate (as defined in the Master Lease)time of such acceptance of rent or other payments.
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Late Charge. Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment to Lessor of Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If Subtenant (i) Lessee fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), Rent owed to Lessor within five (5) days after receipt the date any such payment is required to be made hereunder and, except as hereafter provided with respect to late payments of written notice from Sublandlord that the same is duemonthly installments of Annual Base Rent, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease cure such default within ten two (102) days after receipt of Sublandlord’s invoicenotice (which notice may be telephone) from Lessor, then, Subtenant then Lessee shall pay to Sublandlord an additional Lessor a late EXHIBIT 10.27 charge equal to five percent (5%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in plus any calendar year costs and attorneys' fees incurred by Lessor by reason of Lessee's failure to pay such Rent when due hereunder. Notwithstanding the foregoing, with respect to late payments of monthly installments of Annual Base Rent, Lessee shall only be entitled to receive notice (which notice may be telephonic) two times during each twenty-four (24) month period under this Lease and, thereafter, Lessee shall owe a late charge to Lessor if any Recurring Charge on monthly installment of Annual Base Rent is not paid within five (5) days after the date the same such installment is due, no such prior written notice shall be necessary . Lessor and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties Lessee hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred that Lessor will incur by Sublandlord reason of Lessee's late payment and shall not be construed as a result penalty. Lessor's acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Lessee's default with respect to insist upon timely payments at such overdue amount or estop Lessor from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master other rights and remedies granted under this Lease).. Initials: ------------- ------------ Lessor Lessee
Appears in 1 contract
Samples: Ground Lease (Equinix Inc)
Late Charge. Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment to Lessor of Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If Subtenant (i) Lessee fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), Rent owed to Lessor within five (5) days after receipt of written notice from Sublandlord that the same date any such payment is due, or (ii) required to be made hereunder and fails to pay any other amount for which Subtenant is obligated under this Sublease cure such default within ten two (102) days after receipt of Sublandlord’s invoicenotice from Lessor (it being agreed that the requirement for receipt of any such notice from Lessor shall apply only to imposition of the late charge provided for in this Section 4.5, thenand shall not be construed to require Lessor to deliver any notice to Lessee in order for an Event of Default to occur, Subtenant except solely as may be expressly provided in Section 14.1), then Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five percent (5%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in any calendar year plus all reasonable attorneys’ fees and costs incurred by Lessor by reason of Lessee’s failure to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary Rent when due hereunder. Lessor and the Lessee hereby agree that such late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred that Lessor will incur by Sublandlord reason of Lessee’s late payment and shall not be construed as a result penalty. Lessor’s acceptance of any such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordLessee’s right default with respect to insist upon timely payments at such overdue amount or preclude Lessor from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).other rights and remedies granted under this Lease on account of such default. INITIALS:
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Late Charge. If Subtenant (i) fails Late payment by Tenant to Landlord of Rent or other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, attorneys' charges, late payment charges on a mortgage, and so forth. In the event that Tenant shall fail to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) business days after receipt of written notice from Sublandlord that the same is due, when due Rent or (ii) fails to pay any other amount for which Subtenant is obligated sums owing under this Sublease within ten (10) days after receipt of Sublandlord’s invoiceLease, then, Subtenant Tenant shall pay to Sublandlord Landlord a service charge in an additional late charge amount equal to five percent (5%) of the total amount payable; provideddelinquent sum for each month that a monthly installment of Rent remains unpaid, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same which Landlord and Tenant agree is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and penalty but is a reasonable estimate of the extra costs incurred by Sublandlord expenses Landlord may incur as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to In the event of any such late payment, nor a waiver of Sublandlord’s right in addition to insist upon timely payments at any timethe foregoing service charge, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, amount unpaid shall bear interest at the higher of (i) Bank of America's "reference rate" plus three percent (3%) per annum, or (ii) twelve percent (12%) per annum, but in no event shall such interest exceed the maximum rate allowed by law. Such interest shall be calculated from the date such amount was due date and payable until paid at the Interest Rate same shall have been fully paid. Further, if Landlord incurs any reasonable attorneys' fees in excess of Eight Hundred Dollars ($800) with respect to all Defaults in any calendar year, then Tenant shall pay as defined an additional late charge the sum of all such reasonable attorneys' fees in excess of Eight Hundred Dollars ($800). The foregoing late payment charges and interest shall accrue without the Master Lease)need for Landlord to give Tenant any reminder notice or Default notice as to the unpaid amount owing.
Appears in 1 contract
Samples: Lease (Maxim Pharmaceuticals Inc)
Late Charge. If Subtenant (i) Sublessee fails to pay to Sublessor any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), amount due hereunder within five (5) days after receipt of written notice from Sublandlord that the same is duedue date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Sublessee shall pay to Sublandlord an additional Sublessor upon demand a late charge equal to five percent (5%) of the total delinquent amount payable; providedaccruing from the due date. In addition, howeverSublessee shall pay to Sublessor interest on all amounts due, that if Subtenant fails twice at the rate identified in any calendar year Section 3.4 of the Master Lease, as incorporated herein (the “Interest Rate”), from the due date to pay any Recurring Charge on and including the date of the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatepayment. The parties agree that the foregoing late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late cost and expense which Sublessor will incur in processing each delinquent payment. Such Sublessor’s acceptance of any interest or late charge shall not be deemed a consent by Sublandlord waive Sublessee’s default in failing to any late paymentpay the delinquent amount. Notwithstanding the foregoing, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the no late charge described above, if not paid when due, or interest shall bear interest be due on the first (and only the first) late payment of Rent by Sublessee during any twelve (12) month period during the Term unless Sublessee fails to make such payment to Sublessor within five (5) days after Sublessee’s receipt of a written notice of delinquency from the due date until paid at the Interest Rate (as defined in the Master Lease)Sublessor.
Appears in 1 contract
Samples: Sublease (Gigamon Inc.)
Late Charge. If Subtenant (i) fails to pay any installment of Base RentalRent is not paid promptly when due, Subtenant’s Share such amount shall bear interest at the annual interest rate equal to the lesser of the Operating Expenses Adjustment"prime rate," as announced from time to time by Wellx Xxxgo Bank, or any other recurring charges N.A. (collectively, “Recurring Charges”San Francisco), within plus five (5) days after receipt of written notice from Sublandlord that the same is duepercentage points, or the maximum interest rate allowed by law (ii"Applicable Interest Rate") fails to pay any other amount for from the date on which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoicesaid payment shall be due until the date on which Landlord shall receive said payment. In addition, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total delinquency, to compensate Landlord for the loss of the use of the amount payable; providednot paid and the administrative costs caused by the delinquency, howeverthe parties agreeing that Landlord's damage by virtue of such delinquencies would be difficult to compute and the amount stated herein represents a reasonable estimate thereof. This provision shall not relieve Tenant of Tenant's obligation to pay Rent at the time and in the manner herein specified. Notwithstanding the foregoing, Landlord shall not impose such late charge until Landlord has notified Tenant in writing that if Subtenant fails payment is delinquent, and Tenant has not made such payment within two (2) business days after receipt of such notice, provided that Landlord shall only be required to give such written notice twice in any calendar year to pay year, and if any Recurring Charge on the date the same installment of Rent is duelate thereafter, no such prior written notice shall be necessary and the late charge shall automatically and Landlord may, without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Subleasenotice, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of impose such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)charge.
Appears in 1 contract
Samples: Lease Agreement (O S I Corp)
Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay Landlord of Rent and other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any loan secured by the Property. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), sums due from Tenant shall not be received by Landlord within five (5) days after receipt of written notice from Sublandlord that following the same is duedue date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateoverdue amount. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as a result reason of late payment by Tenant. Acceptance of such late payment. Such late charge by Landlord shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of SublandlordTenant’s right default with respect to insist upon timely payments at any timesuch overdue amount, nor a waiver prevent Landlord from exercising any of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In additionNotwithstanding the foregoing, all amounts payable by Subtenant Tenant shall be entitled, not more than once in any twelve (12) month period, to Sublandlord hereunder, exclusive a notice of the non-payment and a five (5) day grace period thereafter before a late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)may be assessed.
Appears in 1 contract
Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or Notwithstanding any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt provisions of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, thenSublease, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant hereby acknowledges that late payments payment to Sublandlord of Rent, or other amounts due hereunder will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. If any Rent or other sums due from Subtenant are not received by Sublandlord or by Sublandlord's designated agent within ten (10) days after their due date, then Subtenant shall pay to Sublandlord, for each month or partial month during which each overdue amount remains unpaid, a late charge equal to ten percent (10%) of such overdue amount if Sublandlord has given Subtenant written notice that Sublandlord has not received such amounts, or five percent (5%) of such overdue amount if Sublandlord has not given Subtenant such written notice, plus any attorneys' fees incurred by Sublandlord in connection with Subtenant's failure to pay Rent and/or other charge when due hereunder. Sublandlord and impracticable to calculate. The parties Subtenant hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred cost that Sublandlord will incur by Sublandlord as a result reason of such Subtenant's late payment. Such Sublandlord's acceptance of such late charge shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Subtenant's default with respect to insist upon timely payments at such overdue amount or stop Sublandlord from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).other rights and remedies granted under this Sublease. Initials: Sublandlord Subtenant /s/ DWG ---------------- ---------------
Appears in 1 contract
Samples: Sublease Agreement (Scios Inc)
Late Charge. If Subtenant any payment of Rent is not received by Landlord when due, Tenant shall pay to Landlord on demand as a late charge (i“Late Charge“) fails an additional amount equal to four percent (4%) of the overdue payment. Notwithstanding the foregoing, in any consecutive twelve (12) month period, Tenant shall not be obligated to pay any installment a Late Charge on the first payment of Base RentalRent which Landlord does not receive when due, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), unless Tenant does not pay such Rent within five (5) days after receipt of written notice from Sublandlord Landlord (the “Past Due Notice“), that such payment of Rent is past due. If Landlord has given a Past Due Notice, then commencing with the same is duenext past due payment in any twelve (12) month period following the date of the Past Due Notice, or and continuing with each past due payment thereafter in such twelve (ii12) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoicemonth period, then, Subtenant Tenant shall pay the Late Charge to Sublandlord an additional Landlord on demand without Landlord being obligated to send any Past Due Notice. Each late charge equal to five percent payment of Rent shall begin a new twelve (5%12) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due month period during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge Tenant shall not be deemed a consent by Sublandlord entitled to notice for any late payment, nor a waiver subsequent payment of Sublandlord’s right to insist upon timely payments at past due Rent. A Late Charge shall not be imposed more than once on any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if particular installment not paid when due, shall bear interest from the but imposition of a Late Charge on any payment not made when due date until paid at the Interest Rate does not eliminate or supersede late charges imposed on other (as defined in the Master Lease)prior) payments not made when due or preclude imposition of a late charge on other installments or payments not made when due.
Appears in 1 contract
Samples: Lease Agreement (FireEye, Inc.)
Late Charge. If Subtenant (i) fails Tenant acknowledges that late payment of rent will cause Landlord to pay incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. These costs include processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any installment ground leases and/or mortgages. Accordingly, if any payment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), rent is not received by Landlord within five (5) days after receipt of written notice from Sublandlord that the same date such payment is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord Landlord on demand as a late charge an additional late charge amount equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the overdue payment. A late charge shall automatically and without notice apply to each successive Recurring Charge not be imposed more than once on any particular installment not paid when due, but imposition of a late charge on the date any payment not made when due during such calendar yeardoes not eliminate or supersede late charges imposed on other (prior) payments not made when due or preclude imposition of a late charge on other installments or payments not made when due. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree Tenant agrees that the late charge described above represents imposed by this provision is a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as a result reason of the late payment by Tenant, and that the imposition of such late payment. Such late charge shall is in addition to and not be deemed a consent by Sublandlord to any late payment, nor a waiver in lieu of SublandlordLandlord’s right to insist upon timely payments at charge interest on unpaid amounts as provided in Paragraph 16.2, below. Notwithstanding the foregoing, before assessing a late charge the first time in any timetwelve (12) month period, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate Tenant pays such delinquent amount within five (as defined in the Master Lease)5) days thereafter.
Appears in 1 contract
Samples: Lease Agreement (eHealth, Inc.)
Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Sublessee hereby acknowledges that late payments payment by ----------- Sublessee to Sublessor of Base Rent will cause Sublandlord Sublessor to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. such costs include, but are not limited to, processing and impracticable accounting charges, and late charges which may be imposed on Sublessor by the terms of the Lease. Accordingly, Sublessee shall pay to calculateSublessor, as Additional Rent (defined in Paragraph 5.3 below), without the necessity of prior notice or demand (except as expressly provided below in this Paragraph 5.2), a late charge equal to ten percent (10%) of any installment of Base Rent which is not received by Sublessor within five (5) days after the due date for such installment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Sublessor will incur by Sublandlord as reason of late payment by Sublessee. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Sublessee a consent by Sublandlord grace period or extension of time within which to pay any late paymentinstallment of Base Rent or prevent Sublessor from exercising any right or remedy available to Sublessor upon Sublessee's failure to pay such installment of Base Rent when due, nor a waiver of Sublandlord’s including without limitation the right to insist upon timely payments terminate the Sublease, which remedies may be pursued by Sublessor after expiration of the time period set forth in, and in accordance with, Paragraph 30
(a) of the Lease. Subject to the notice provision set forth below in this Paragraph 5.2, in the event any installment of Base Rent is not received by Sublessor by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at any timean annual rate set forth in Paragraph 16 below, nor a waiver of any remedies to which Sublandlord commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is entitled hereunderpaid in full. In addition, Sublessee shall pay all amounts payable costs and attorneys' fees incurred by Subtenant Sublessor in the collection of such amounts.
(b) of the Lease. Subject to Sublandlord hereunderthe notice provision set forth below in this Paragraph 5.2, exclusive in the event Sublessee fails to pay Base Rent to Sublessor within ten (10) days of the due date thereof and Sublessor is assessed a late charge by Lessor pursuant to said paragraph, Sublessee shall immediately upon demand by Sublessor pay to Sublessor the full amount of the late charge described assessed by Lessor. Said charge shall be payable by Sublessee in addition to, and not in lieu of, the late charge specified in the immediately preceding paragraph. Notwithstanding the foregoing, Sublessee shall not be responsible for any late charge or fee arising from a Sublessor's Lease Default. The foregoing notwithstanding, before Sublessee is assessed a late charge hereunder or interest accrues on delinquent installments of Base Rent as provided above, (i) Sublessee shall have failed to pay an installment of Base Rent on or prior to the date such installment was due, and (ii) Sublessor shall have given Sublessee one (1) written notice during the immediately preceding twelve (12) month period that Sublessee has failed to pay an installment of Base Rent on or prior to the date such installment was due. No late charge shall be assessed nor shall interest accrue if the delinquent installment is paid by Sublessee within five (5) days after Sublessee's receipt of such written notice If in the twelve (12) month period following Sublessor's delivery of such written notice, (i) an installment of Base Rent is not paid when due, shall bear interest from within five (5) days after the due date until paid at for such installment or (ii) any installment of Base Rent is not received by Sublessor by the Interest Rate thirtieth (30th) day after the due date for such installment, then a late charge shall be payable and/or interest shall accrue with respect to such delinquent installment, as defined provided above. In addition, in the Master event such written notice given by Sublessor to Sublessee pursuant to this Paragraph 5.2 satisfies the requirements of California Code of Civil Procedure Sections 1161 and 1161.1 (or any successor or replacement statute), Sublessor shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding after expiration of the ten (10) day period set forth in Paragraph 30(a) of the Lease).
Appears in 1 contract
Samples: Sublease (Power Integrations Inc)
Late Charge. If Subtenant (i) fails to pay any installment payment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same Rent is not received by Landlord when due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord Landlord on demand as a late charge (“Late Charge”) an additional late charge amount equal to five percent (5%) of the total amount payable; providedoverdue payment. Notwithstanding the foregoing, however, that if Subtenant fails twice in any calendar year consecutive twelve (12) month period Tenant shall not be obligated to pay any Recurring a Late Charge on the date the same is first payment of Rent which Landlord does not receive when due, no unless Tenant does not pay such prior Rent within five (5) days after written notice shall be necessary and from Landlord (the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on “Past Due Notice”) that such payment of Rent is past due. If Landlord has given a Past Due Notice, then commencing with the next past due payment in any twelve (12) month period following the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as Past Due Notice, and continuing with each past due payment thereafter in such twelve (12) month period, Tenant shall pay the Late Charge to Landlord on demand without Landlord being obligated to send any Past Due Notice. Each late payment of Rent shall begin a result of such late payment. Such late charge new twelve (12) month period during which Tenant shall not be deemed a consent by Sublandlord entitled to notice for any late payment, nor a waiver subsequent payment of Sublandlord’s right to insist upon timely payments at past due Rent. A Late Charge shall not be imposed more than once on any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if particular installment not paid when due, shall bear interest from the but imposition of a Late Charge on any payment not made when due date until paid at the Interest Rate does not eliminate or supersede late charges imposed on other (as defined in the Master Lease)prior) payments not made when due or preclude imposition of a late charge on other installments or payments not made when due.
Appears in 1 contract
Late Charge. If Subtenant (i) fails to pay any installment of Base RentalFixed Rent, Subtenant’s Share of the Operating Expenses Adjustment, Additional Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice sum due from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease Lessee shall not be received by Lessor within ten (10) days after receipt of Sublandlord’s invoicesaid amount is due, then, Subtenant Lessee shall pay to Sublandlord an additional Lessor on demand a late charge equal to five of three percent (53%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar yearoverdue amount. Subtenant Lessee hereby acknowledges that late payments payment by Xxxxxx to Lessor of Fixed Rent, Additional Rent or other sums due hereunder will cause Sublandlord Lessor to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely will be difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late paymentascertain. Such costs include, but are not limited to, processing and accounting charges, attorneys' fees, and late charge shall not charges which may be deemed a consent imposed upon Lessor by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver terms of any remedies to which Sublandlord is entitled hereundermortgage or trust deed encumbering the Premises. In addition, all amounts payable by Subtenant to Sublandlord Lessee shall pay on demand twenty-five dollars ($25.00) for any check returned for insufficient funds. Any monetary payment due Lessor hereunder, exclusive of other than late charges, not received by Lessor, when due as to scheduled payments (such as Fixed Rent) or within fifteen (15) days following the late charge described above, if not paid when duedate on which it was due for non-scheduled payment, shall bear interest from the date when due, as to scheduled payments, or the sixteenth (16) day after it was due as to non-scheduled payments to the date until paid at so paid. The interest charged shall be equal to the Interest Rate prime rate reported in The Wall Street Journal as published on the date prior to the date when due plus four percent (as defined in 4%), but shall not exceed the Master Lease)maximum rate allowed by law. All such charges shall also be Rent hereunder.
Appears in 1 contract
Samples: Lease Agreement (Corporate Realty Income Fund I L P)
Late Charge. If Subtenant (i) fails any payment of any sums required to pay be paid or deposited by Tenant to or for the benefit of Landlord under this Lease and payments made by Landlord under any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount provision hereof for which Subtenant Landlord is obligated under this Sublease within entitled to reimbursement by Tenant shall become overdue for a period of ten (10) days after receipt of Sublandlord’s invoicebeyond the date on which they are due and payable as provided for in this Lease, then, Subtenant shall pay to Sublandlord an additional a late charge equal to the greater of (a) any late charges assessed Exhibit F - Form of Lease against Landlord under the terms of the Facility Loan or any Mortgage or (b) five percent (5%) of the total amount payable; providedoverdue amount, howevershall become immediately due and payable to Landlord, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the said late charge shall automatically and without notice apply to each successive Recurring Charge not paid be payable on the date due first day of the month next succeeding the month during which such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late paymentbecomes payable. Such late charge shall not compensate Landlord only for loss of interest on the payments due Landlord and shall be deemed a consent by Sublandlord in addition to any and all other amounts, including damages, to which Landlord may be entitled pursuant to this Lease or at law or in equity. The acceptance by Landlord of a late paymentcharge shall not limit or preclude Landlord from exercising its rights pursuant to Section 13. If non payment of any late charge shall occur, nor a waiver Landlord shall have, in addition to all other rights and remedies, all rights and remedies provided for herein and by law in the case of Sublandlord’s right non payment of rent. No failure by Landlord to insist upon timely payments at any time, nor the strict performance by Tenant of Tenant’s obligations to pay late charges shall constitute a waiver by Landlord of its rights to enforce the provisions of this Section in any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)instance thereafter occurring.
Appears in 1 contract
Late Charge. If Subtenant (i) Lessee fails or refuses to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is Rent when due, or (ii) fails Lessor. at Lessor's option, shall be entitled to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional collect a late charge equal to of five percent (5%) of the total amount payableof the late payment to compensate Lessor for the additional expense involved in handling delinquent payments and not as interest; provided, however, that if Subtenant fails twice Lessee shall be allowed one (1) late payment of Rent in any each calendar year of the Term, which late payment shall not be subject to pay any Recurring Charge on a late charge hereunder so long as the date Rent then due is paid within five (5) days of the same due date. If the payment of a late charge required by this Section is duefound to constitute interest notwithstanding the contrary intention of Lessor and Lessee, no such prior written notice shall be necessary and the late charge shall automatically be limited to the maximum amount of interest that lawfully may be collected by Lessor under applicable law, and without notice apply if any payment is determined to each successive Recurring Charge not paid on the date due during exceed such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Subleaselawful amount, the exact amount excess shall be applied to any unpaid Rent then due and payable hereunder and/or credited against the next succeeding installment of which costs are extremely difficult and impracticable Rent payable hereunder. If all Rent payable hereunder has been paid in full, any excess shall be refunded to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Lessee, Lessee shall reimburse Lessor for any processing fees charged to Lessor as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)Lessee's checks having been returned for insufficient finds.
Appears in 1 contract
Samples: Lease Agreement (Virata Corp)
Late Charge. If Subtenant (i) Tenant fails to pay any installment of Base RentalBasic Rent, Subtenant’s Share of the Operating Expenses Adjustment, additional rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoicethe same are due, thenor fails to make any other payment for which Tenant is obligated under this Lease, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount so payable; provided, however, that if Subtenant fails twice Tenant shall pay no late fee for the first such late payment in any calendar year to pay any Recurring Charge on twelve (12) month period during the date the same is due, no Term unless such prior failure continues for three (3) business days after written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar yearTenant. Subtenant Tenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Landlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord Landlord to any late payment, nor a waiver of SublandlordLandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord Landlord is entitled hereunder. In addition, all amounts payable by Subtenant Tenant to Sublandlord Landlord hereunder, exclusive of the late charge described above, if not paid when within ten (10) days after such amounts are due, shall bear interest from the due date until paid at the Interest Rate rate of ten percent (as defined 10%) per annum or the maximum rate of interest permitted to be collected by Landlord by law, whichever is the lesser; provided, however, that the first such late payment in any twelve (12) month period during the Master Lease)Term shall not bear such interest unless such failure continues for three (3) business days after written notice to Tenant.
Appears in 1 contract
Samples: Lease Agreement (Health Net Inc)
Late Charge. If Subtenant (iLessee(s) fails acknowledge that late payment of rent may cause Lessor to pay incur costs and expenses, the exact amount of such costs being extremely difficult and impractical to fix. Such cost may include, but are not limited to, processing and accounting expenses, late charges that may be imposed on Lessor by terms of any loan secured by property, costs for additional attempts to collect rent, and preparation of notices. Therefore, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), rent due from Lessee(s) is not received by Lessor within five (5) calendar days after receipt of written notice from Sublandlord that the same is date due, or (iiand if Lessor elects to accept rent after the 5th day of the month, Lessee(s) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord Lessor an additional sum of $50.00 as a late charge equal to five percent (5%) of the total amount payable; provided, however, which shall deemed additional rent. The Parties agree that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the this late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a as fair and reasonable estimate of the extra costs incurred that Lessor may incur by Sublandlord as a result reason of such Lessee(s)'s late paymentpayments. Such Acceptance of any late charge shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s Lessee(s)'s default with respect to the past due amount, or prevent Lessor from exercising any other rights and remedies under this agreement, and as provided by law. If a late lease payment is received and accepted by Lessor without a late charge, this late charge may be withheld from Lessee(s) deposit. If lease payment has not been received by fifteen (15) days after above due date, Lessor reserves the right to insist upon timely payments at notify Lessee(s) to vacate premises within fifteen (15) days. If this occurs, Lessee(s) will forfeit deposit and will not be released from lease terms until premises are again leased and any timediscrepancies in lease agreement, nor a waiver either previously of any remedies hereinafter, have been satisfied. If more than one party is responsible for the total lease payment, partial payment will not be accepted as it will be the responsibility of these parties to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge make payment in whole as described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)this lease agreement.
Appears in 1 contract
Samples: Residential Lease Agreement
Late Charge. If Subtenant (i) fails Notwithstanding any other provision of this Lease to pay any installment the contrary, Tenant hereby acknowledges that the late payment to Landlord of Base Rental, Subtenant’s Share of the Operating Expenses AdjustmentRent, or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If any Rent or other recurring charges (collectively, “Recurring Charges”), sums due from Tenant are not received by Landlord or by Landlord’s designated agent within five (5) days after receipt of written notice from Sublandlord that the same is duetheir due date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to Two Hundred Fifty Dollars ($250.00) plus five percent (5%) of the total amount payablesuch overdue amount, plus any costs and attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent and/or other charges when due hereunder; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is duetwelve (12) consecutive month period, no such prior written notice shall be necessary and the late charge shall automatically be waived (a) with respect to the first (1st) occurrence of a late payment of Base Rent, and without notice apply (b) with respect to each successive Recurring Charge not paid on the date due during such calendar yearfirst two (2) occurrences of a late payment of Additional Rent. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult Landlord and impracticable to calculate. The parties Tenant hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred cost that Landlord will incur by Sublandlord reason of Tenant’s late payment and shall not be construed as a result penalty. Landlord’s acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordTenant’s right default with respect to insist upon timely payments at such overdue amount or estop Landlord from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master other rights and remedies granted under this Lease).. INITIALS: Landlord Tenant
Appears in 1 contract
Late Charge. If Subtenant Notwithstanding anything to the contrary herein contained, in order to cover the extra expense involved in handling delinquent payments, Tenant, at Landlord's option, shall pay a "late charge" of ten (i10%) fails to pay percent when any installment payment of Annual Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same additional rent hereunder is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within paid more than ten (10) days after receipt the due date thereon ("Delinquency"). It is understood and agreed that this charge is for additional expense incurred by Landlord and shall not be considered interest. Tenant acknowledges that Landlord has the right and privilege to require that the Annual Base Rent due under this Lease be paid in advance on an annual basis; however, for the convenience of Sublandlord’s invoicethe Tenant, provided no Delinquencies occur, Landlord is willing to permit Tenant to pay the Annual Base Rent in monthly installments as set forth herein. If three (3) Delinquencies occur during any twelve (12) month period, then, Subtenant shall at Landlord's option, from time to time, Landlord may demand that Tenant pay to Sublandlord an additional late charge equal Landlord one (1) Year's Annual Base Rent at the then current rate or amount ("Delinquency Payment"). The Delinquency Payment shall be applied towards the next twelve (12) installments of Annual Base Rent next coming due hereunder. The Delinquency payment shall bear no interest and if legally permissible, Landlord shall be entitled to five percent (5%) of commingle the total amount payable; provided, however, that if Subtenant fails twice in any calendar year Delinquency Payment with Landlord's other funds. If Tenant shall fail to pay any Recurring Charge on the date the same Delinquency Payment within fifteen (15) days after demand is duemade therefor, no such prior written notice failure shall be necessary and the late charge shall automatically and without notice apply constitute a default pursuant to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).
Appears in 1 contract
Late Charge. If Subtenant (i) Sublessee fails to pay to Sublessor any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), amount due hereunder within five (5) days after receipt of written notice from Sublandlord that the same is duedue date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Sublessee shall pay to Sublandlord an additional Sublessor upon demand a late charge equal to five percent (5%) of the total delinquent amount payable; providedaccruing from the due date. In addition, howeverSublessee shall pay to Sublessor interest on all amounts due, that if Subtenant fails twice at the rate identified in any calendar year Section 3.4 of the Master Lease, as incorporated herein (the "Interest Rate"), from the due date to pay any Recurring Charge on and including the date of the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatepayment. The parties agree that the foregoing late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late cost and expense which Sublessor will incur in processing each delinquent payment. Such Sublessor's acceptance of any interest or late charge shall not be deemed a consent by Sublandlord waive Sublessee's default in failing to any late paymentpay the delinquent amount. Notwithstanding the foregoing, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the no late charge described above, if not paid when due, or interest shall bear interest be due on the first (and only the first) late payment of Rent by Sublessee during any twelve (12) month period during the Term unless Sublessee fails to make such payment to Sublessor within five (5) days after Sublessee’s receipt of a written notice of delinquency from the due date until paid at the Interest Rate (as defined in the Master Lease)Sublessor.
Appears in 1 contract
Samples: Lease (Palo Alto Networks Inc)
Late Charge. Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment to Lessor of Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If Subtenant (i) Lessee fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), Rent owed to Lessor within five (5) days after receipt of written notice from Sublandlord that the same date any such payment is due, or (ii) required to be made hereunder and fails to pay any other amount for which Subtenant is obligated under this Sublease cure such default within ten two (102) days after receipt of Sublandlord’s invoicenotice from Lessor (it being agreed that the requirement for receipt of any such notice from Lessor shall apply only to imposition of the late charge provided for in this Section 4.5, thenand shall not be construed to require Lessor to deliver any notice to Lessee in order for an Event of Default to occur, Subtenant except solely as may be expressly provided in Section 14.1), then Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five percent (5%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in any calendar year plus all reasonable attorneys’ fees and costs incurred by Lessor by reason of Lessee’s failure to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary Rent when due hereunder. Lessor and the Lessee hereby agree that such late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred that Lessor will incur by Sublandlord reason of Lessee’s late payment and shall not be construed as a result penalty. Lessor’s acceptance of any such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordLessee’s right default with respect to insist upon timely payments at such overdue amount or preclude Lessor from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)other rights and remedies granted under this Lease on account of such default.
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Late Charge. If Subtenant Tenant acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being 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(s) affecting the Facility. Therefore, if any payment of any sums required to be paid or deposited by Tenant to or for the benefit of Landlord under this Lease and payments made by Landlord under any provision hereof for which Landlord is entitled to reimbursement by Tenant shall become overdue for a period of seven (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (57) days after receipt of written notice from Sublandlord that beyond the same is duedate on which they are due and payable as provided for in this Lease, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional a late charge equal to five percent (5%) of the total overdue amount payable; provided, however, that if Subtenant fails twice in any calendar year shall become immediately due and payable to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateLandlord. The parties agree that the this late charge described above represents a fair and reasonable estimate of the extra costs incurred that Landlord will incur by Sublandlord as a result reason of such late paymentpayment by Tenant. Such late charge shall not be deemed a consent by Sublandlord in addition to any and all other amounts, including damages, to which Landlord may be entitled pursuant to this Lease or at law or in equity. The acceptance by Landlord of a late paymentcharge shall not limit or preclude Landlord from exercising its rights pursuant to Section 13. If non-payment of any late charge shall occur, nor a waiver Landlord shall have, in addition to all other rights and remedies, all rights and remedies provided for herein and by law in the case of Sublandlord’s right non-payment of rent. No failure by Landlord to insist upon timely payments at any time, nor the strict performance by Tenant of Tenant’s obligations to pay late charges shall constitute a waiver by Landlord of its rights to enforce the provisions of this in any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)instance thereafter occurring.
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Samples: Lease Agreement (Emeritus Corp\wa\)
Late Charge. If Subtenant In the event (ia) fails to pay any installment of Base Rental, Subtenant’s Share principal or interest due hereunder or (b) any payment into any Reserve or other escrow fund due and owing under this Agreement or under any of the Operating Expenses Adjustmentother Loan Documents, in either case, is not paid in full on or any other recurring charges before the fourth (collectively, “Recurring Charges”), within five (54th) days after receipt of written notice from Sublandlord that calendar day immediately following the same is calendar day on which such payment first becomes due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then the Borrower shall pay to Sublandlord an additional the Administrative Agent a late charge (hereinafter referred to as the “Late Charge”) equal to five four percent (54.0%) of the total amount payable; providedoverdue or, howeverif less, that if Subtenant fails twice the maximum amount permitted under applicable Law in any calendar year the State, in order to pay any Recurring defray part of the cost of collection and of handling delinquent payments. The foregoing Late Charge on is intended to compensate the date the same is due, no such prior written notice shall be necessary Administrative Agent and the late charge shall automatically Lenders for the costs and without notice apply expenses incident to each successive Recurring Charge not paid on handling any such delinquent payment and for the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs losses incurred by Sublandlord the Administrative Agent and/or the Lenders as a result of such late delinquent payment. Such The Borrower hereby covenants and agrees that, considering all of the circumstances existing on the Closing Date, the Late Charge represents a reasonable estimate of the costs and losses the Administrative Agent and the Lenders will incur by reason of a late charge payment hereunder. The Borrower and the Administrative Agent hereby further acknowledge and agree that proof of actual losses would be costly, inconvenient, impracticable, and extremely difficult to fix. Acceptance of the Late Charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor constitute a waiver of any Event of Default arising as a result of any such payment being overdue, and shall not prevent the Administrative Agent from exercising any other rights or remedies available to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive the Administrative Agent hereunder or under any of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)other Loan Documents.
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Late Charge. If Subtenant (i) Tenant fails to pay when due any installment payment of Base Rentalrent or other charges which Tenant is obligated to pay to Landlord under this Lease, Subtenant’s Share there shall be a late charge, immediately payable by Tenant as additional rent, in the amount of six percent (6%) of each such obligation. Landlord and Tenant agree that this sum is reasonable to compensate Landlord for accounting and administrative expenses incurred by Landlord. In addition to the late charge, any and all rent or other charges which Tenant is obligated to pay to Landlord under this Lease which are unpaid shall bear interest at the rate set forth in Section 17.6 from the date said payment was due until paid, said interest to be payable by Tenant as additional rent. Landlord and Tenant agree that this sum is reasonable to compensate Landlord for the loss of the Operating Expenses Adjustmentuse of funds. Notwithstanding the foregoing, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of in the event Landlord shall have provided written notice from Sublandlord that the same is dueto Tenant in accordance with Section 17.1.1, or (ii) fails Tenant shall not be obligated to pay any other amount for which Subtenant is obligated under the late charge and interest otherwise due pursuant to this Sublease within Section 17.3 unless ten (10) days after shall have lapsed following Tenant's receipt of Sublandlord’s invoicesaid notice and the delinquent amount(s) shall not have been paid. In addition to the foregoing, thenif any check tendered by Tenant to Landlord is dishonored by the financial institution upon which the check is drawn (e.g., Subtenant insufficient funds, uncollected funds, account closed, payment stopped, etc.), Tenant shall pay to Sublandlord an additional late charge equal to five percent Landlord the greater of Twenty Dollars (5%$20.00) of or the total amount payable; provided, however, that if Subtenant fails twice actual service fee charged by Landlord's financial institution in any calendar year to pay any Recurring Charge on the date the same is due, no connection with such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)dishonored check.
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Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord Sublessee hereby acknowledges that the same is due, or (ii) fails late payment by Sublessee to pay any Sublessor of Rent and other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date sums due during such calendar year. Subtenant acknowledges that late payments hereunder will cause Sublandlord Sublessor to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. Such costs include processing and impracticable accounting charges, and late charges which may be imposed on Sublessor by the terms of the Master Lease. Accordingly, if any installment of Rent or any other sum due hereunder to calculateSublessor from Sublessee shall not be received by Sublessor within five (5) days after the date due, Sublessee shall pay to Sublessor a late charge equal to three percent (3%) of the overdue amount. The parties agree that the amount of such late charge described above represents a fair and reasonable estimate of the extra costs and expenses that would be incurred by Sublandlord as a result Sublessor by reason of late payment by Sublessee. Acceptance of such late payment. Such late charge by Sublessor shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of Sublandlord’s right Sublessee's default with respect to insist upon timely payments at any timesuch overdue amount, nor a waiver of shall such acceptance prevent Sublessor from exercising any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)other rights and remedies granted hereunder or by law to Sublessor.
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Samples: Sublease Agreement (Cytel Corp/De)
Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Sublessee hereby acknowledges that late payments payment by Sublessee to Sublessor of Rent will cause Sublandlord Sublessor to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and impracticable accounting charges, and late charges which may be imposed upon Sublessor by the terms of the Master Lease. Accordingly, Sublessee shall pay to calculateSublessor's Agent, as Charges, without the necessity of prior notice or demand, a late charge equal to two percent (2%) of any installment of Rent which is not received by Sublessor's Agent within fifteen (15) days after the due date for such installment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Sublessor will incur by Sublandlord as reason of late payment by Sublessee. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Sublessee a consent by Sublandlord grace period or extension of time within which to pay any late paymentinstallment of Rent or prevent Sublessor from exercising any right or remedy available to Sublessor upon Sublessee's failure to pay such installment of Rent when due, nor a waiver of Sublandlord’s including without limitation the right to insist upon timely payments terminate the Sublease. In the event any installment of Rent is not received by Sublessor's Agent by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at any timean annual rate set forth in Paragraph 10 below, nor a waiver of any remedies to which Sublandlord commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is entitled hereunderpaid in full. In addition, Sublessee shall pay all amounts payable reasonable costs and attorneys' fees incurred by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined Sublessor in the Master Lease)collection of such amounts.
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Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share Time is of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt essence to the performance of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar yearLease. Subtenant Tenant acknowledges that late payments payment by Tenant to Landlord of any base monthly rent or other sums due under this Lease will cause Sublandlord Landlord to incur costs and damages, including but not contemplated limited to processing and accounting charges and late charges that may be imposed on Landlord by this Subleasethe terms of any encumbrance secured by the Premises, as well as the loss of the use and time value of money. Landlord and Xxxxxx specifically agree and acknowledge that the exact amount of which such costs are extremely and damages would be difficult or impossible to prove. Provided that Landlord and impracticable Tenant initial here: \s\ illegible LANDLORD --------------- TENANT --------------- Xxxxxx agrees that, if any rent or other sum due from Tenant is not received when due, Tenant shall pay to calculateLandlord an additional sum equal to TEN (10) PERCENT OF THE UNPAID BALANCE DUE. The parties Landlord and Tenant hereby agree that they have attempted to estimate the amount of costs and damages which would result from delay in payment, and that the agreed late charge described above represents a fair and reasonable estimate of the extra costs incurred and damages that Landlord will incur by Sublandlord as a result reason of any such late paymentpayment in light of the anticipated or actual harm which would be caused by such delays, the difficulties of proof of loss, and the inconvenience or nonfeasibility of Landlord otherwise obtaining an adequate remedy. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In additionAdditionally, all amounts payable by Subtenant to Sublandlord hereundersuch delinquent rent or other sums, exclusive of the plus this late charge described above, if not paid when duecharge, shall bear interest from the due date until paid at the Interest Rate (as defined rate per annum set forth in the Master Lease)Section 1.9 above. Any payments of any kind returned insufficient funds will be subject to an additional handling charge of $25.00.
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Samples: Lease Agreement (Digirad Corp)
Late Charge. If Subtenant (i) fails Tenant shall fail to pay Fixed Basic Rent and all other sums, amounts, liabilities, and obligations which Tenant herein assumes or agrees to pay, whether designated as Rent, additional rent, costs, expenses, damages, losses or otherwise (collectively “Rent”), Tenant acknowledges that Landlord will incur costs not contemplated by this Lease, the exact amount of which is difficult to ascertain. Accordingly, and in satisfaction of such costs, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease sum shall not be received by Landlord within ten (10) days after receipt of Sublandlord’s invoicedue, then, Subtenant Tenant shall pay to Sublandlord an additional a late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in ten cents for every unpaid dollar thereof plus any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary reasonable attorney’s fees and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result Landlord by reason of such late payment. Such late charge shall not be deemed a consent by Sublandlord Tenant’s failure to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid pay Rent when due, notwithstanding the date on which such payment is actually paid to Landlord. In addition to the Late Charge, all due and unpaid Rent that remains unpaid for a period of thirty (30) days after due shall, as of the thirty-first (31st) day begin accruing interest at a rate of twelve percent (12%) per annum, compounded monthly, until such Rent is paid, not to exceed the maximum nonusurious rate permitted by applicable law of the State or the United State of America, whichever shall bear permit the higher nonusurious rate, such interest from being in addition to and cumulative of any other rights and remedies which Landlord may have with regard to the failure of Tenant to make any such payments under this Lease. Any such late charge and interest, to the extent applicable, shall be due and payable at the time of actual payment of the Rent. Nothing contained in this Paragraph 3.6 is intended to grant Tenant any extension of time in respect of the due date until paid at dates for any payments under this Lease, nor shall the Interest Rate (as defined in the Master Lease)same be construed to be a limitation of any other rights or remedies of Landlord under this Lease or otherwise.
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Samples: Lease Agreement (Duolingo, Inc.)
Late Charge. If Subtenant Landlord and Xxxxxx acknowledge that the late payment by Tenant of Rent or the late payment by Landlord of amounts owed to Tenant under this Lease will cause the party who was entitled to receive such payment (i“Payee”) fails to pay any installment incur damages, including administrative costs, loss of Base Rental, Subtenant’s Share use of the Operating Expenses Adjustmentoverdue funds and other costs, or any other recurring charges (collectively, “Recurring Charges”), the exact amount of which would be impractical and extremely difficult to fix. Landlord and Tenant agree that if the Payee does not receive a payment within five (5) days after receipt following the delivery by Payee of written notice from Sublandlord to the other party (“Payor”) that the same such payment is dueoverdue, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Payor shall pay to Sublandlord an additional Payee a late charge equal to five percent (5%) of the total amount payable; provideddelinquent amount, howeveror the sum of One Hundred Dollars ($100.00), that if Subtenant fails twice in any calendar year whichever is greater, as liquidated damages for the damages which Payee is likely to pay any Recurring Charge on incur for the thirty (30) day period following the due date the same is dueof such payment. Further, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge all portions of a payment not paid on the within thirty (30) days following its due date due during such calendar year. Subtenant acknowledges that and all late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, charges associated therewith shall bear interest from the due date until paid at the Interest Rate (as such term is defined in General Condition O) beginning on the Master thirty-first (31st) day following the due date of such payment and continuing until such payment, late charges and interest are paid in full to Payee. Acceptance of the late charge by Payee shall not cure or waive a default, nor prevent Payee from exercising, before or after such acceptance, any of the rights and remedies for a default provided by this Lease or at law. Payment of the late charge is not an alternative means of performance of Payor’s obligation at the times specified in this Lease). Payor will be liable for the late charge regardless of whether Xxxxx’s failure to pay when due constitutes a default under this Lease.
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