Common use of Late Charge Clause in Contracts

Late Charge. 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 3 contracts

Samples: Net Lease Agreement (Integrated Device Technology Inc), Net Lease Agreement (Integrated Device Technology Inc), Net Lease Agreement (Integrated Device Technology Inc)

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Late Charge. Tenant hereby acknowledges Xxxxxxxx recognizes that late payment by Tenant Default in making the installment monthly payments when due hereunder will result in Lender incurring additional expense in servicing the Loan, in loss to Landlord Lender of Rent will cause Landlord the use of the money due and in frustration to incur costs not contemplated by this LeaseXxxxxx in meeting its loan commitments.. Xxxxxxxx agrees that if, the exact amount of which will be extremely difficult to ascertain. Such costs includefor any reason, 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any monthly installment of Rent which is interest shall not be received by Landlord Lender within ten (10) days after of its due date, Lender shall be entitled to damages for the due date for such installmentdetriment caused thereby. The preceding to the contrary notwithstanding, Landlord Xxxxxxxx therefore agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay Lender a late charge on of ten percent (10%) of such delinquent Rent unless Tenant fails installment, but not including the final payment, or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month periodmaximum amount allowed by law, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that whichever is less, such late charge represents a fair to be immediately due and reasonable estimate of the costs Landlord payable without notice or demand by Xxxxxx. Borrower will incur by reason of late payment by Tenant. In no event shall pay this provision for a late charge be deemed only once for each late installment payment, but not including the final payment. This Section and the amounts for which it provides shall not limit Lender's right, under this Note, the Deed of Trust, or otherwise, to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenantcompel prompt performance thereunder. Xxxxxx's failure to pay collect such installment late charges shall not constitute a waiver of Rent when due, including without limitation the Lender's right to terminate this Leaserequire payment of such late charges for past or future Defaults. In Any late charge shall be in addition to all other rights and remedies available to Lender upon the event any installment occurrence of Rent is not received by Landlord by a default under the thirtieth (30th) day after the due date for such installmentLoan Documents. BORROWER ACKNOWLEDGES AND AGREES THAT IT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO FIX THE ACTUAL DAMAGES RESULTING FROM XXXXXXXX'S FAILURE TO PAY AMOUNTS WHEN DUE AND THEREFORE, such installment shall bear interest at the annual rate set forth in Paragraph 35 belowSHALL PAY SUCH LATE CHARGES NOT AS A PENALTY, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullBUT FOR THE PURPOSE OF DEFRAYING THE EXPENSES INCIDENT TO SERVICING THE LOAN AND HANDLING AMOUNTS PAST DUE. FURTHER, XXXXXXXX AGREES THAT THE LATE CHARGES SET FORTH HEREIN ARE A REASONABLE ESTIMATE OF THE DAMAGES TO LENDER. THE LATE CHARGES SHALL BE PAYABLE BY BORROWER WITHOUT PREJUDICE TO THE RIGHTS OF LENDER TO COLLECT ANY OTHER AMOUNTS TO BE PAID UNDER THIS NOTE OR THE DEED OF TRUST.

Appears in 2 contracts

Samples: Loan Agreement (Aqua Metals, Inc.), Loan Agreement (Aqua Metals, Inc.)

Late Charge. Tenant hereby acknowledges recognizes that late payment by Tenant of any Rent will result in administrative and other expense to Landlord Landlord. Therefore, other remedies for nonpayment of Rent will cause notwithstanding, (i) in the event any installment of Basic Rent is not received by Landlord to incur costs not contemplated by this Lease, on or before the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting chargesfifth (5th) day following the Rent Payment Date, and late charges which may be imposed on Landlord by the terms such amount shall remain unpaid for more than five (5) days after Tenant’s receipt of any mortgage or deed of trust covering the Premises. Accordinglywritten notice that such amount is past due, then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five two and one half (2½%) percent (5%) of any the past due installment of Basic Rent, and (ii) in the event any payment of Additional Rent which is not received by Landlord within ten five (105) days after the due date for Tenant’s receipt of written notice that such installment. The preceding amount is past due, then Tenant shall pay to Landlord an additional charge in an amount equal to the contrary notwithstandinglesser of Two Thousand Five Hundred Dollars ($2,500.00) or one percent (1%) of the overdue amount. Any notice of overdue payment for which Tenant shall be subject to a late charge shall state, in all capital letters (or other prominent display), that Tenant’s failure to remit payment by the appointed date shall result in the imposition of a late charge. Landlord agrees that, with respect may not send any such notice of overdue payment to Tenant prior to the first late fifth (5th) day following the date such payment of Rent by Tenant in is due, and if any twelve month periodsuch premature notice is sent, it shall be deemed to have been sent on the fifth (5th) day following the date such payment was due. Notwithstanding the foregoing, Tenant shall not be obligated to pay a late charge on such delinquent installments of Rent unless to the extent that Tenant’s payment is deficient by an amount that is less than or equal to one percent (1%) of the total amount due; provided that Tenant fails or refuses to pay such Rent shall remit the amount of the deficiency promptly upon and, in any extent, within five (5) business days Business Days following Tenant’s receipt of written notice from Landlord that the same is past due. All additional charges described herein are not intended as a penalty, but are intended to Tenant. Except with respect liquidate the damages so occasioned to Landlord and to reimburse Landlord for Landlord’s additional costs in processing such late payment, which amounts shall be added to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when then 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 2 contracts

Samples: Lease Agreement (Gramercy Capital Corp), Lease Agreement (Gramercy Capital Corp)

Late Charge. Tenant hereby acknowledges that At the option of Administrative Agent, Borrower will pay Lenders, on demand (i) a “late payment by Tenant charge” equal to Landlord [***]% of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of any installment on this Note when such installment is not paid within 3 Business Days following the date such installment is due and (ii) a processing fee in the amount of $0 for each check which will is provided to Administrative Agent by Borrower in payment for an obligation owing to Lenders under any Loan Document but is returned or dishonored for any reason, in order to cover the additional expenses involved in handling delinquent and returned or dishonored payments. Change . . If Lenders determine that the amount of capital required or expected to be extremely difficult maintained in respect of the Obligations by Xxxxxxx is increased as a result of a Change (except a Change regard to ascertain. Such costs includeIndemnified Taxes, but are not limited towhich is governed solely by Section 3.3 of the Credit Agreement), 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 then Borrower shall pay to Landlord, as Additional Rent (as defined Administrative Agent the amount necessary to compensate Lenders for any shortfall in Paragraph 4.3 below), without the necessity rate of prior notice return on the portion of such increased capital that Administrative Agent determines is attributable to this Note or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant principal amount outstanding hereunder; provided that Borrower shall not be obligated required to pay a late charge on compensate Lenders for any such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect shortfall incurred during any fiscal quarter ended more than 90 days’ prior to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated date that Administrative Agent makes its request for additional amounts pursuant to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this LeaseSection 2.10(b). In the event that Administrative Agent becomes aware that any installment of Rent is not received by Landlord by amounts are or will be owed to Lenders pursuant to Section 2.10(a), then it shall promptly notify Borrower thereof and, as soon as possible thereafter, Administrative Agent shall submit to Borrower a certificate indicating the thirtieth (30th) day after amount owing to Lenders and the due date for such installment, such installment shall bear interest at the annual rate calculation therefor. The amounts set forth in Paragraph 35 belowsuch certificate shall be deemed a part of the Obligations of Borrower hereunder; provided, commencing on however, that the thirty-first (31stfailure of Borrower to pay any amount owing to Lenders pursuant to Section 2.10(a) day after shall not be deemed to constitute a Default or an Event of Default hereunder to the due date for extent that Borrower is contesting in good faith its obligation to pay such installment and continuing until such installment is paid in fullamount by ongoing discussions diligently pursued with Administrative Agent or by appropriate proceedings.

Appears in 2 contracts

Samples: Credit and Security Agreement (loanDepot, Inc.), Credit and Security Agreement (loanDepot, Inc.)

Late Charge. Tenant Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment by Tenant to Landlord Lessor of Rent will cause Landlord 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 If Lessee fails to pay any Rent owed to Lessor within five (5) days after the date any such payment is required to be made hereunder and accounting chargesfails to cure such default within two (2) days after receipt of notice 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, and late charges which shall not be construed to require Lessor to deliver any notice to Lessee in order for an Event of Default to occur, except solely as may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordinglyexpressly provided in Section 14.1), Tenant then Lessee shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Lessor a late charge equal to five percent (5%) of any installment such overdue amount, plus all reasonable attorneys’ fees and costs incurred by Lessor by reason of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses Lessee’s failure to pay such Rent within five (5) business days following receipt of written notice to Tenantwhen due hereunder. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties Lessor and Lessee hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord that Lessor will incur by reason of Lessee’s late payment by Tenantand shall not be construed as a penalty. In no event shall this provision for a Lessor’s acceptance of any such late charge be deemed shall not constitute a waiver of Lessee’s default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent Landlord preclude Lessor from exercising any right or remedy available to Landlord upon Tenant's failure to pay of the other rights and remedies granted under this Lease on account of such installment of Rent when due, including without limitation the right to terminate this Leasedefault. 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.INITIALS: Lessor Lessee

Appears in 2 contracts

Samples: Ground Lease (Morgans Hotel Group Co.), Ground Lease (Morgans Hotel Group Co.)

Late Charge. Tenant hereby If all or any portion of any payment or deposit required hereunder (other than the payment due on the Maturity Date) is not paid or deposited on or before the fourth day following the day on which such payment or deposit is due, Borrower shall pay a late or collection charge, as liquidated damages, equal to 5% of the amount of such unpaid payment or deposit. If all or any portion of the payment due on the Maturity Date is paid after the Maturity Date and on a date other than the first day of a month, Borrower shall pay a late or collection charge, as liquidated damages, equal to the interest which would have accrued on such amount during the period commencing on the date payment of such amount is actually made and ending on the last day of the month in which payment of such amount is actually made. Borrower acknowledges that Xxxxxx will incur additional expenses as a result of any late payments or deposits hereunder, which expenses would be impracticable to quantify, and that Xxxxxxxx's payments under this Section ERROR! REFERENCE SOURCE NOT FOUND. are a reasonable estimate of such expenses. Default Rate. Commencing upon a Default and continuing until such Default shall have been cured by Borrower, all sums owing on this Note shall bear interest until paid in full at an annual rate equal to 5% plus the Interest Rate, but not higher than the maximum rate of interest permitted by applicable law ("Default Rate"). MAXIMUM RATE PERMITTED BY LAW. Neither this Note nor any of the other Loan Documents shall require the payment or permit the collection of any interest or any late payment charge in excess of the maximum rate permitted by Tenant law. If any such excess interest or late payment charge is provided for under this Note or any of the other Loan Documents or if this Note or any of the other Loan Documents shall be adjudicated 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date provide for such installment. The preceding to the contrary notwithstandingexcess, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant neither Borrower nor Borrower's successors or assigns shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses excess, and the right to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in demand the payment of Rent in a twelve month periodany such excess shall be and hereby is waived, Landlord and this provision shall not be obligated to give Tenant notice control any other provision of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate this Note or any of the costs Landlord will incur by reason of late payment by Tenantother Loan Documents. In no event If Lender shall this provision for a late charge be collect amounts which are deemed to grant constitute interest and which would increase the effective interest rate to Tenant a grace period or extension rate in excess of time within which the maximum rate permitted by law, all such amounts deemed to pay any installment constitute interest in excess of Rent or prevent Landlord from exercising any right or remedy available to Landlord the maximum legal rate shall, upon Tenant's failure to pay such installment of Rent when duedetermination, 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 at the annual rate set forth in Paragraph 35 belowoption of Lender, commencing on be returned to Borrower or credited against the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fulloutstanding principal balance of this Note.

Appears in 2 contracts

Samples: Janus Hotels & Resorts Inc, Janus Hotels & Resorts Inc

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Monthly Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant is not received by Landlord or Landlord’s designee within ten (10) days after it is due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of any installment of Rent such overdue amount, which is not received by Landlord within ten (10) days after late charge shall be due and payable on the due same date for such installmentthat the overdue amount was due. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby Parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, excluding interest and attorneys’ fees and costs. If any Base Monthly Rent or other sum due from Tenant remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate (defined in Section 14.B) from the date such amount became due until paid. Acceptance by Landlord of such late charge or interest shall not 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. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent, property management fees and Tenant’s Allocable Share of Reimbursable Operating Costs (defined in Section 9.D) shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate amount due under this Lease. In Notwithstanding the event any installment of Rent is not received by Landlord by the thirtieth foregoing, Tenant shall be entitled to one (30th1) written notice and five (5) day after cure period each calendar year before the due date first late charge for such installment, such installment calendar year shall bear interest at accrue. No notice or additional cure period shall be required or apply for the annual rate set forth in Paragraph 35 below, commencing on second or any subsequent late charge during the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullcalendar year.

Appears in 2 contracts

Samples: Lease (Extreme Networks Inc), Lease (Extreme Networks Inc)

Late Charge. If Tenant hereby acknowledges that late payment by Tenant shall fail to pay any amount required under this 4 Lease when due to Landlord or if any such amount is found to be due as the result of Rent will cause an audit, then, in 5 such event, Landlord to incur costs not contemplated may impose (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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Notice) a late charge with respect to each such unpaid amount, 6 during the period such amount remains unpaid, equal to five interest on such unpaid amount at the rate of 7 nineteen percent (519.0%) of any installment of Rent which is not received by Landlord per year, compounded monthly. Each late charge shall be payable within 8 ten (10) days after demand made at any time therefor by Landlord. No acceptance by Landlord of 9 payment of any unpaid amount or of any unpaid late charge amount shall be deemed a waiver of the due date for such installment. The preceding 10 right of Landlord to payment of any late charge or late charges payable under the contrary notwithstanding, Landlord agrees that, provisions of this 11 Section with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a such unpaid amount. Each late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency shall be recoverable by Landlord in the payment 12 same manner and with like remedies as if it were originally a part of the Fixed Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a or additional rent. 13 In the event that any late charge on imposed pursuant to this Section shall exceed a legal maximum 14 applicable to such delinquent Rent. The parties hereby agree that late charge, then, in such event, each such late charge represents a fair and reasonable estimate payable under the provisions 15 of the costs Landlord will incur by reason of late payment by Tenant. In no event this Section shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay payable instead at such installment of Rent when due, including without limitation the right to terminate this Leaselegal maximum. In the event that upon conducting an 16 examination and audit as described in this Article Landlord determines that unpaid amounts are due to 17 Landlord by Tenant, Tenant shall be obligated, and hereby agrees, to pay to Landlord a service charge 18 in the amount of five (5%) percent of each amount determined by an audit to be unpaid. Each such 19 service charge shall be payable immediately upon demand (by Notice) made at any installment of Rent is not received time therefor by 20 Landlord. Such service charge shall be exclusive of, and in addition to, any and all other moneys or 21 amounts due to Landlord by Tenant under this Lease or otherwise. No acceptance by Landlord of 22 payment of any unpaid amount or of any unpaid service charges shall be deemed a waiver of the right 23 of Landlord to payment of any service charge or other service charges payable under the provisions of 24 this Section with respect to such unpaid amount. Each such service charge shall be recoverable by 25 Landlord in the thirtieth same manner and with like remedies as if it were originally a part of the Fixed Rent 26 or additional rent. Nothing in this Section is intended to, or shall be deemed to, affect, alter, modify 27 or diminish in any way (30thi) day after the due date for such installmentany rights of Landlord under this Lease, such installment shall bear interest at the annual rate including Landlord's rights set 28 forth in Paragraph 35 below, commencing on the thirty-first Article 20 of this Lease or (31stii) day after the due date for such installment and continuing until such installment is paid in fullany obligations of Tenant under this Lease.

Appears in 2 contracts

Samples: corpinfo.panynj.gov, corpinfo.panynj.gov

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, In 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of event any installment of Minimum Rent which or Additional Rent required hereunder to be paid is not received by Landlord within ten (10) days after the same are due, then, for each and every late payment, Tenant shall immediately pay, as Additional Rent, interest thereon at the Default Rate, from the due date for until such installment. The preceding to the contrary notwithstandinginstallment of Annual Minimum Rent or Additional Rent is fully paid, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, provided that Tenant shall not be obligated required to pay a late charge on interest the first time in any calendar year that Tenant has not paid annual Minimum Rent or Additional Rent within ten (10) days after such delinquent Rent payment shall first become due, unless Tenant fails or refuses to pay shall not have paid such Rent rent within five ten (510) business days following receipt of written after Landlord shall have given Tenant notice to Tenantthat such rent is past due. Except with respect to the first delinquency in the The provisions herein for late payment of Rent in a twelve month period, Landlord service charges shall not be obligated construed to give extend the date for payment of any sums required to be paid by Tenant notice hereunder or to relieve Tenant of delinquent Rent prior its obligation to imposing pay all such sums at the time or times herein stipulated. Notwithstanding the imposition of such service charges pursuant to this Section 4.D., Tenant shall be in default under this Lease if any or all payments required to be made by Tenant are not made on or before the time due and as stipulated in this Lease, and neither the demand for, nor collection by, Landlord of such late payment service charges shall be construed as a cure of such default on the part of Tenant. The late charge on such delinquent Rentshall be deemed Additional Rent and the right to require it shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord's remedies in any manner. The parties hereby agree It is agreed that such late the said service charge represents is a fair and reasonable estimate of charge under the costs Landlord will incur by reason of late payment by Tenant. In no event circumstances and shall this provision for not be construed as interest on a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this Leasedebt payment. In the event any installment charge imposed hereunder or under any other section of Rent this Lease is not received by Landlord by either stated to be or construed as interest, then no such interest charge shall be calculated at a rate which is higher than the thirtieth (30th) day after maximum rate which is allowed under the due date usury laws of the State, which maximum rate of interest shall be substituted for such installmentthe rate in excess thereof, such installment shall bear interest at the annual rate set forth in Paragraph 35 belowif any, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullcomputed pursuant to this Lease.

Appears in 1 contract

Samples: Lease (Smith & Wollensky Restaurant Group Inc)

Late Charge. Tenant hereby acknowledges that At the option of Administrative Agent, Borrower will pay Lenders, on demand (i) a “late payment by Tenant charge” equal to Landlord [***]% of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of any installment on this Note when such installment is not paid within [***] following the date such installment is due and (ii) a processing fee in the amount of $0 for each check which will is provided to Administrative Agent by Borrower in payment for an obligation owing to Lenders under any Loan Document but is returned or dishonored for any reason, in order to cover the additional expenses involved in handling delinquent and returned or dishonored payments. Change . If Lenders determine that the amount of capital required or expected to be extremely difficult maintained in respect of the Obligations by Lenders is increased as a result of a Change (except a Change regard to ascertain. Such costs includeIndemnified Taxes, but are not limited towhich is governed solely by Section 3.3 of the Credit Agreement), 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 then Borrower shall pay to Landlord, as Additional Rent (as defined Administrative Agent the amount necessary to compensate Lenders for any shortfall in Paragraph 4.3 below), without the necessity rate of prior notice or demand, a late charge equal to five percent (5%) return on the portion of any installment of Rent which such increased capital that Administrative - SIGNATURE RESTRICTED - Content is not received by Landlord within ten (10) days after to be distributed or shared with outside parties. Agent determines is attributable to this Note or the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant principal amount outstanding hereunder; provided that Borrower shall not be obligated required to pay a late charge on compensate Lenders for any such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect shortfall incurred during any fiscal quarter ended more than [***] prior to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated date that Administrative Agent makes its request for additional amounts pursuant to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this LeaseSection 2.10(b). In the event that Administrative Agent becomes aware that any installment of Rent is not received by Landlord by amounts are or will be owed to Lenders pursuant to Section 2.10(a), then it shall promptly notify Borrower thereof and, as soon as possible thereafter, Administrative Agent shall submit to Borrower a certificate indicating the thirtieth (30th) day after amount owing to Lenders and the due date for such installment, such installment shall bear interest at the annual rate calculation therefor. The amounts set forth in Paragraph 35 belowsuch certificate shall be deemed a part of the Obligations of Borrower hereunder; provided, commencing on however, that the thirty-first (31stfailure of Borrower to pay any amount owing to Lenders pursuant to Section 2.10(a) day after shall not be deemed to constitute a Default or an Event of Default hereunder to the due date for extent that Borrower is contesting in good faith its obligation to pay such installment and continuing until such installment is paid in fullamount by ongoing discussions diligently pursued with Administrative Agent or by appropriate proceedings. Fees. Unused Fee. [***].

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult and economically impractical to ascertain. Such costs include, but are not limited to, administrative expenses, processing and accounting charges, loss of interest income, and late tare charges which that may be imposed on upon Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of therefore agrees that if any installment of Rent which is not received by rent or any other payment due hereunder from Tenant to Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails received by Landlord, or refuses to pay such Rent Landlord's designee, within five (5) business days following receipt of written notice after said amount is due, then Tenant shall pay to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such equal to ten (10%) percent of the amount of the delinquent Rentrent or other payment. The amount of each late charge to be paid by Landlord by Tenant shall he assessed and added to the next successive monthly installment of rent due hereunder. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs loss and expense to be suffered by Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a tenant and that such late charge be deemed may lie assessed and collected by Landlord to grant ameliorate such loss and expense. Acceptance of such late charge by Landlord shall not constitute a waiver of Tenant's default and shall not relieve Tenant of the obligation to Tenant a grace period rent and other payments on or extension before the dare on which they are due, nor shall the provisions of time within which to pay this paragraph in any installment of Rent or way prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this Lease. In its other rights and remedies in the event any installment of Rent is (hat rent or other payments are not received by buy Landlord by on or before the thirtieth date due. If a late charge is payable hereunder, whether or not collected, for any four (30th4) day after installments of Base Rent during any twelve (12) month period, then all further Base rent shall automatically become due and payable quarterly in advance, rather than monthly, not withstanding any provision of this Lease to the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullcontrary.

Appears in 1 contract

Samples: Agreement of Lease (FNB Bancorp/Ca/)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, 34. In 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, event Tenant shall fail to pay to Landlordany rents or sums due hereunder on or before the due date herein provided, as Additional Rent (as defined then and in Paragraph 4.3 below), without the necessity of prior notice or demand, event the amount so due and unpaid shall bear a late charge equal to five percent (5%) of the amount due together with interest accruing from the date due at the maximum interest rate permitted by law, which late charge and interest shall be payable forthwith upon demand. (The foregoing shall be in addition to any installment other right or remedy of Rent which is not received Landlord.) Complete Agreement 35. There are no oral agreements between Landlord and Tenant affecting this Lease, and this Lease supersedes and cancels any and all prior negotiations, arrangements, correspondence, communications, brochures, agreements and understandings, if any, whether oral or written, between Landlord and Tenant or displayed by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, or Tenant with respect to the first late payment subject matter of Rent this Lease or the Building. There are no representations between Landlord and Tenant other than those contained in this Lease and all reliance with respect to any representations is based solely upon the terms of this Lease. Corporate Authority 36. If Tenant signs as a corporation, each of the persons executing this Lease on behalf of Tenant does hereby covenant and warrant that(a) Tenant is a duly authorized and existing corporation, (b) Tenant has and is qualified to do business in California, (c) the corporation has full right and authority to enter into this Lease, and (d) each and both of the persons signing on behalf of the corporation are authorized to do so. If Tenant is a corporation, within 30 days after execution of this Lease by Tenant in any twelve month periodTenant, Tenant shall deliver to Landlord a certified corporate resolution authorizing the persons who signed below or behalf of Tenant to execute this Lease. Modification & 37. If any mortgage or equity lender should require Financing as a condition to the financing that Landlord Agreements obtain any amendment of the provisions of this Lease, Tenant agrees to execute such amendment, provided that such amendment shall not be obligated change the location of the Premises, increase the rent or materially interfere with Tenant's use or occupancy of the Premises. If Tenant should refuse to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent execute any amendments so required within five (5) business days following after receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month periodsame, Landlord shall have the right by notice to Tenant to cancel this Lease, and upon such cancellation Landlord shall refund any unearned rent, the security deposit, if any, and neither party shall have any liability to the other. Alterations to 38. Landlord shall have the right at any time and Building from time to time to change, add to, subtract from, or otherwise alter the Building, including without limitation, the location and/or size of entrances, doors and doorways, corridors, elevators, stairs, utility rooms, restrooms or other general common areas. In addition, Landlord reserves the right to locate, both vertically and horizontally, install, maintain, use, repair and replace pipes, utility lines, ducts, conduits, flues, drains, sprinkler mains and valves, access panels, wires and structural elements leading through the Premises in locations which will not materially interfere with Tenant's use thereof. Landlord shall use reasonable efforts not to interfere unreasonably with the normal business operations of Tenant, but in any event there shall be obligated to give Tenant notice no abatement of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur any rent by reason of late payment by Tenant. In no event shall any actions of Landlord pursuant to the provisions of this provision Section, and Tenant hereby waives any claim for a late charge be deemed to grant to Tenant a grace period damages for any injury or extension of time within which to pay any installment of Rent inconvenience or prevent Landlord from exercising any right or remedy available to Landlord upon interfere with Tenant's failure to pay business, any loss of occupancy or quiet enjoyment of the Premises or any other loss occasioned by such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullactions.

Appears in 1 contract

Samples: Settlement Agreement and Mutual Release (Colo Com)

Late Charge. Tenant hereby acknowledges that The late payment by Tenant to Landlord of any installment of Annual Rental or Additional Rent will cause Landlord to incur additional costs, including administration and collection 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, and processing and accounting charges, expenses and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premisesincreased debt service (“Delinquency Costs”). Accordingly, Tenant shall pay to Landlordreceive, as Additional Rent during the term hereof, a grace period (as defined in Paragraph 4.3 beloweach, a “Grace Period”), without the necessity of prior notice or demand, a late charge equal not to exceed five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installmentany installment of Annual Rental or Additional Rent. The preceding No Late Charge as defined herein shall be due as long as the applicable installment of Annual Rental or Additional Rental is paid on or before the expiration of the applicable Grace Period. As to any installment of Annual Rent or Additional Rent which Landlord has not received prior to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment expiration of Rent by Tenant in any twelve month periodsuch Grace Period , Tenant shall not be obligated to pay a late charge on such delinquent equal to three percent (3%) of the installment of Annual Rent unless Tenant fails or refuses Additional Rent payment which was not paid timely (“Late Charge”) which is agreed to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in represent a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Delinquency Costs incurred by Landlord. Landlord and Tenant recognize that the damage which Landlord shall suffer as a result of Tenant’s failure to pay such amounts is difficult to ascertain and said Late Charge is the best estimate of the damage which Landlord shall suffer in the event of late payment. So long as any amounts remain outstanding under the State Note, the Late Charge will be paid to the Independent Collection Agent to be applied towards the payment of any late charges due under the State Note, and any remaining balance shall be paid to Landlord. If the State Note is no longer outstanding, then the Late Charges shall be paid directly to Landlord. Late Charges due to Landlord are independent and separate from any Late Charges which Tenant may incur to State by reason of late any payment by under the State’s Note not being made on or before the due date as a result of Tenant. In no event shall this provision for a late charge be deemed ’s failure to grant to Tenant a grace period or extension of time within which to timely pay any installment of Annual Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent payable hereunder as and when due, including without limitation though Landlord acknowledges and agrees that the right Independent Collection Agent will utilize the Late Charges paid by Tenant under this Lease to terminate this Lease. In satisfy any late charges which may be due under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullState Note.

Appears in 1 contract

Samples: General Assignment Agreement

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited to, processing and accounting chargesreceived by Landlord or by Landlord's designated agent when due, and late charges which may be imposed on Landlord by if Tenant does not cure such failure within five (5) days after the terms of any mortgage or deed of trust covering due date (the Premises. Accordingly"Grace Period"), then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of such overdue amount (the "Late Charge"), plus any installment costs and reasonable attorneys' fees incurred by Landlord by reason of Tenant's failure to pay Rent which is and/or other charges when due hereunder; provided, however, that Tenant shall have the right to pay Rent during the Grace Period only five (5) times during the Term and, after Tenant has paid Rent during the Grace Period an aggregate of five (5) times, Tenant shall pay to Landlord a Late Charge on any Rent or other sums due hereunder that are not received by Landlord within ten (10) days after or Landlord's designated agent when due. Notwithstanding the foregoing, if Tenant establishes and maintains throughout the Term a direct payment or debit arrangement with a bank or financial institution pursuant to which the Rent due date for such installment. The preceding hereunder is automatically paid to the contrary notwithstanding, Landlord agrees that, with respect to by electronic transfer on the first day of each month, and if Tenant provides Landlord with evidence of such arrangement, then Landlord shall. provide Tenant with notice of any late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect prior to the first delinquency in the payment imposition of Rent in a twelve month period, Late Charge. Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents Late Charge represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant's late payment by and shall not be construed as a penalty. Landlord's acceptance of such Late Charge shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed 's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this Lease. In the event any installment of Rent is not received by Initials: Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Tenant

Appears in 1 contract

Samples: Lease Agreement (Theravance Inc)

Late Charge. Tenant hereby acknowledges that At the option of Administrative Agent, Borrower will pay Lenders, on demand (i) a “late payment by Tenant charge” equal to Landlord [***]% of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of any installment on this Note when such installment is not paid within [***] Business Days following the date such installment is due and (ii) a processing fee in the amount of $0 for each check which will is provided to Administrative Agent by Borrower in payment for an obligation owing to Lenders under any Loan Document but is returned or dishonored for any reason, in order to cover the additional expenses involved in handling delinquent and returned or dishonored payments. Change - SIGNATURE RESTRICTED - Content is not to be extremely difficult distributed or shared with outside parties. . If Lenders determine that the amount of capital required or expected to ascertain. Such costs includebe maintained in respect of the Obligations by Xxxxxxx is increased as a result of a Change (except a Change regard to Indemnified Taxes, but are not limited towhich is governed solely by Section 3.3 of the Credit Agreement), 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 then Borrower shall pay to Landlord, as Additional Rent (as defined Administrative Agent the amount necessary to compensate Lenders for any shortfall in Paragraph 4.3 below), without the necessity rate of prior notice return on the portion of such increased capital that Administrative Agent determines is attributable to this Note or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant principal amount outstanding hereunder; provided that Borrower shall not be obligated required to pay a late charge on compensate Lenders for any such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect shortfall incurred during any fiscal quarter ended more than 90 days’ prior to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated date that Administrative Agent makes its request for additional amounts pursuant to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this LeaseSection 2.10(b). In the event that Administrative Agent becomes aware that any installment of Rent is not received by Landlord by amounts are or will be owed to Lenders pursuant to Section 2.10(a), then it shall promptly notify Borrower thereof and, as soon as possible thereafter, Administrative Agent shall submit to Borrower a certificate indicating the thirtieth (30th) day after amount owing to Lenders and the due date for such installment, such installment shall bear interest at the annual rate calculation therefor. The amounts set forth in Paragraph 35 belowsuch certificate shall be deemed a part of the Obligations of Borrower hereunder; provided, commencing on however, that the thirty-first (31stfailure of Borrower to pay any amount owing to Lenders pursuant to Section 2.10(a) day after shall not be deemed to constitute a Default or an Event of Default hereunder to the due date for extent that Borrower is contesting in good faith its obligation to pay such installment and continuing until such installment is paid in full.amount by ongoing discussions diligently pursued with Administrative Agent or by appropriate proceedings. Fees. Unused Fee. [***]

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited to, processing and accounting chargesreceived by Landlord or by Landlord’s designated agent when due, and late charges which may be imposed on Landlord by if Tenant does not cure such failure within five (5) days after the terms of any mortgage or deed of trust covering due date (the Premises. Accordingly“Grace Period”), then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of such overdue amount (the “Late Charge”), plus any installment costs and reasonable attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent which is and/or other charges when due hereunder; provided, however, that Tenant shall have the right to pay Rent during the Grace Period only five (5) times during the Term and, after Tenant has paid Rent during the Grace Period an aggregate of five (5) times, Tenant shall pay to Landlord a Late Charge on any Rent or other sums due hereunder that are not received by Landlord within ten (10) days after or Landlord’s designated agent when due. Notwithstanding the foregoing, if Tenant establishes and maintains throughout the Term a direct payment or debit arrangement with a bank or financial institution pursuant to which the Rent due date for such installment. The preceding hereunder is automatically paid to the contrary notwithstanding, Landlord agrees that, with respect to by electronic transfer on the first day of each month, and if Tenant provides Landlord with evidence of such arrangement, then Landlord shall. provide Tenant with notice of any late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect prior to the first delinquency in the payment imposition of Rent in a twelve month period, Late Charge. Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents Late Charge represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant’s late payment by and shall not be construed as a penalty. Landlord’s acceptance of such Late Charge shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed ’s default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this Lease. In the event any installment of Rent is not received by Initials: Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Tenant

Appears in 1 contract

Samples: Lease Agreement (Theravance Biopharma, Inc.)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this the 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 of trust covering the Premises. AccordinglyOther remedies for non-payment of Rent notwithstanding, if Tenant fails to pay any scheduled installments of Rent to Landlord under this Lease within five (5) days of its due date, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demandRent, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installmentoverdue amount. The preceding to Notwithstanding the contrary notwithstandingforegoing, Landlord agrees that, with respect to will not assess a late charge until Landlord has given written notice of such late payment for the first late payment of Rent by Tenant in any twelve (12) month period, period and after Tenant shall has not cured such late payment within three (3) business days from receipt of such notice. No other notices will be obligated to pay required during the following twelve (12) months for a late charge to be incurred. In addition, interest shall accrue on all delinquent amounts from the 31st day that such delinquent Rent unless Tenant fails amounts are due until paid at the lower of the rate of ten percent (10%) per annum from the date such payment is due until paid, or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Renthighest rate permitted by applicable law. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In Acceptance of such late charge by Landlord shall in no event shall this provision for constitute a late charge be deemed waiver of Tenant’s default with respect to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or such overdue amount, nor prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this Leaseother rights and remedies granted hereunder. In the event Tenant makes payment by check for any installment of Rent payment due hereunder and such check is not received returned by Landlord Landlord’s or Tenant’s financial institution for any reason, except for bank error, the amount paid by the thirtieth (30th) day after the due date for such installmentcheck shall be deemed delinquent and subject to said late charge. For any checks returned as “insufficient”, such installment Tenant shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullbe charged a fee a $50.00 per occurrence.

Appears in 1 contract

Samples: Industrial Lease Agreement (CF Finance Acquisition Corp II)

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited to, processing and accounting chargesreceived by Landlord or by Landlord's designated agent when due, and late charges which may be imposed on Landlord by if Tenant does not cure such failure within five (5) days after the terms of any mortgage or deed of trust covering due date (the Premises. Accordingly"Grace Period"), then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of such overdue amount (the "Late Charge"), plus any installment costs and reasonable attorneys' fees incurred by Landlord by reason of Tenant's failure to pay Rent which is and/or other charges when due hereunder; provided, however, that Tenant shall have the right to pay Rent during the Grace Period only five (5) times during the Term and, after Tenant has paid Rent during the Grace Period an aggregate of five (5) times, Tenant shall pay to Landlord a Late Charge on any Rent or other sums due hereunder that are not received by Landlord within ten (10) days after or Landlord's designated agent when due. Notwithstanding the foregoing, if Tenant establishes and maintains throughout the Term a direct payment or debit arrangement with a bank or financial institution pursuant to which the Rent due date for such installment. The preceding hereunder is automatically paid to the contrary notwithstanding, Landlord agrees that, with respect to by electronic transfer on the first day of each month, and if Tenant provides Landlord with evidence of such arrangement, then Landlord shall provide Tenant with notice of any late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect prior to the first delinquency in the payment imposition of Rent in a twelve month period, Late Charge. Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents Late Charge represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant's late payment by and shall not be construed as a penalty. Landlord's acceptance of such Late Charge shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed 's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this Lease. In the event any installment of Rent is not received by INITIALS: Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Tenant

Appears in 1 contract

Samples: Lease Agreement (Theravance Inc)

Late Charge. Tenant hereby acknowledges I understand that late payment by Tenant in order 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, avoid a late charge equal and/or post-maturity (i.e., additional) interest, I must pay the Lender the Total of Payments due in cash or by cashier’s check on or before the Payment Due Date at the Lender’s address set forth above. If I fail to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after do this, I agree that the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay Lender may assess me a late charge of 5% of the Total of Payments due, plus post-maturity interest for any additional days the Lender carries the loan (at the Annual Percentage Rate of the loan) and that the Lender may ACH the Total of Payments due plus the late charge and/or post-maturity interest from my bank account on such delinquent Rent unless Tenant fails or refuses whatever day the Lender deems most likely to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency result in the payment Lender being paid in full while maximizing its return on the loan, as long as the Lender does not extend the loan for an unreasonable length of Rent time (typically the loan will be extended until my next payday after the Payment Due Date or my next following payday, unless I request some other accommodation to which the Lender agrees). I understand that this extended date will normally be on a payday of mine, but that the Lender may use its own discretion in a twelve month period, Landlord shall not be obligated ACHing my bank account. I agree that it is reasonable for the Lender to give Tenant notice of delinquent Rent prior to imposing charge me a late charge and additional interest if I do not make my payment on such delinquent Renttime as I agreed herein. The parties hereby I fully understand that I will save money if I pay the Lender in cash or by cashier’s check on or before the Payment Due Date, and that if I do not to do so, for whatever reason, the cost to me will increase accordingly. If any prevailing law, court, judge, arbitrator or any other authority deems that any part of any late charge or post-maturity interest assessed was above that allowed by law, I agree that such late charge represents a fair the Lender will only be required to return the difference between the amount assessed and reasonable estimate of the costs Landlord maximum amount allowed by law. Interest. I will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing of 36% annually on the thirty-first (31st) day after Principal outstanding from time to time. If a law that applies to this Agreement is interpreted so that the due date for interest, finance charge and other charges on this loan exceed the amounts or rates permitted, then any such installment interest, finance charge and continuing until other charges shall be reduced to the permitted limit, and any sums collected in excess of such installment is paid in fulllimit shall be refunded to me. Lender may elect to make any such refund by reducing the Principal. My acceptance of any such cash refund or Principal reduction shall constitute a waiver of any right of action I might have arising out of such coverage.

Appears in 1 contract

Samples: Consumer Loan Agreement

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited to, processing and accounting chargesreceived by Landlord or by Landlord’s designated agent when due, and late charges which may be imposed on Landlord by if Tenant does not cure such failure within five (5) days after the terms of any mortgage or deed of trust covering due date (the Premises. Accordingly“Grace Period”), then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of such overdue amount (the “Late Charge”), plus any installment costs and reasonable attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent which is and/or other charges when due hereunder; provided, however, that Tenant shall have the right to pay Rent during the Grace Period only five (5) times during the Term and, after Tenant has paid Rent during the Grace Period an aggregate of five (5) times, Tenant shall pay to Landlord a Late Charge on any Rent or other sums due hereunder that are not received by Landlord within ten (10) days after or Landlord’s designated agent when due. Notwithstanding the foregoing, if Tenant establishes and maintains throughout the Term a direct payment or debit arrangement with a bank or financial institution pursuant to which the Rent due date for such installment. The preceding hereunder is automatically paid to the contrary notwithstanding, Landlord agrees that, with respect to by electronic transfer on the first day of each month, and if Tenant provides Landlord with evidence of such arrangement, then Landlord shall provide Tenant with notice of any late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect prior to the first delinquency in the payment imposition of Rent in a twelve month period, Late Charge. Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents Late Charge represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant’s late payment by and shall not be construed as a penalty. Landlord’s acceptance of such Late Charge shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed ’s default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this Lease. In the event any installment of Rent is not received by INITIALS: Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Tenant

Appears in 1 contract

Samples: Lease Agreement (Theravance Biopharma, Inc.)

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited to, processing and accounting chargesreceived by Landlord or by Landlord’s designated agent when due, and late charges which may be imposed on Landlord by if Tenant does not cure such failure within five (5) days after the terms of any mortgage or deed of trust covering due date (the Premises. Accordingly“Grace Period”), then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of such overdue amount (the “Late Charge”), plus any installment costs and reasonable attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent which is and/or other charges when due hereunder; provided, however, that Tenant shall have the right to pay Rent during the Grace Period only five (5) times during the Term and, after Tenant has paid Rent during the Grace Period an aggregate of five (5) times, Tenant shall pay to Landlord a Late Charge on any Rent or other sums due hereunder that are not received by Landlord within ten (10) days after or Landlord’s designated agent when due. Notwithstanding the foregoing, if Tenant establishes and maintains throughout the Term a direct payment or debit arrangement with a bank or financial institution pursuant to which the Rent due date for such installment. The preceding hereunder is automatically paid to the contrary notwithstanding, Landlord agrees that, with respect to by electronic transfer on the first day of each month, and if Tenant provides Landlord with evidence of such arrangement, then Landlord shall provide Tenant with notice of any late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect prior to the first delinquency in the payment imposition of Rent in a twelve month period, Late Charge. Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents Late Charge represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant’s late payment by and shall not be construed as a penalty. Landlord’s acceptance of such Late Charge shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed ’s default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this Lease. In the event any installment of Rent is not received by INITIALS: /s/ XXXXX X. XXXX, XX. /s/ A. XXXX XXXXXXX Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Tenant

Appears in 1 contract

Samples: Lease Agreement (Threshold Pharmaceuticals Inc)

Late Charge. Tenant hereby acknowledges that the late payment by Tenant of any installment of rent, or any other sum of money required to Landlord of Rent be paid by Tenant under this Lease, will cause Landlord to incur certain costs and expenses not contemplated by under this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs and expenses will include, but are not limited towithout limitation, attorneys' fees, administrative and collection costs, and processing and accounting chargesexpenses and other costs and expenses necessary and incidental thereto. If any Base Monthly Rent or Additional Rent is not received by Landlord from Tenant when such payment is due, and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, then Tenant shall immediately pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) % of any installment of Rent which is not received by Landlord within ten (10) days after the due date such delinquent rent as liquidated damages for such installment. The preceding Tenant's failure to the contrary notwithstandingmake timely payment; provided, however, that Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, that Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses have to pay such Rent late charge if it makes its payment in full within five (5) business days following after receipt of written notice to Tenant. Except with respect to from Landlord, except that this notice and cure period shall only be applicable for the first delinquency in the two times each calendar year that Tenant fails to pay any Rent. If Landlord has provided two notices of a late payment of Rent in or default during a twelve month periodcalendar year, Landlord shall not be obligated to give Tenant provide any notice thereafter for the remainder of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that calendar year and such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late shall be due if payment by Tenantis not made when due without any grace period or notice. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when dueany rent due under this Lease in a timely fashion, including without limitation the any 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Lease pursuant to Section 13.2B.

Appears in 1 contract

Samples: Building Lease Agreement (Drexler Technology Corp)

Late Charge. If Tenant hereby 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 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 is difficult to ascertain. Such costs include, but are not limited to, processing and accounting chargesAccordingly, and late charges which may be imposed on Landlord by the terms in satisfaction of any mortgage or deed of trust covering the Premises. Accordinglysuch costs, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of if any installment of Rent which is or other sum shall not be received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month perioddue, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses equal to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, ten cents for every unpaid dollar thereof plus any reasonable attorney’s fees and costs incurred by Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Rent when due, including without limitation notwithstanding the right date on which such payment is actually paid to terminate this LeaseLandlord. In addition to the event any installment Late Charge, all due and unpaid Rent that remains unpaid for a period of Rent is not received by Landlord by the thirtieth thirty (30th30) day days after the due date for such installmentshall, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on as of the thirty-first (31st) day after 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 permit the higher nonusurious rate, such interest 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 dates for such installment and continuing until such installment is paid in fullany payments under this Lease, nor shall the same be construed to be a limitation of any other rights or remedies of Landlord under this Lease or otherwise.

Appears in 1 contract

Samples: Commencement Date Agreement (Duolingo, Inc.)

Late Charge. In the event Tenant hereby acknowledges that is more than five (5) days late payment by Tenant to Landlord ----------- in paying any amount of Rent will cause Landlord to incur costs not contemplated by rent due under 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five three percent (5%) 3%)of each delinquent amount of rent and any installment subsequent delinquent amount of Rent which is rent; provided, however, that such late charge shall not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, be payable with respect to the first two (2) late payment payments of Rent by Tenant rent in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent each of the first two (2) Lease Years of the Term unless Tenant fails or refuses to pay such Rent the delinquent amount of rent within five (5) business days following receipt after notice of written notice to Tenantsuch delinquency by Landlord. Except Notwithstanding the previous sentence, no late charge shall be payable by Tenant with respect to the first delinquency in any delinquent payment of rent which is late as a result of Landlord's failure to notify Tenant of a new address for the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent rent at least five (5) days prior to imposing a late charge the date on which such delinquent Rentpayment of rent was due. The parties hereby agree that the amount of the late charge set forth in the first sentence of this Section 24.2 represents a reasonable estimate of ------------ the cost and expense that would be incurred by Landlord in processing each delinquent payment of rent by Tenant and that such late charge represents a fair and reasonable estimate shall be paid to Landlord as liquidated damages for each delinquent payment pursuant to Section 1671 of the costs Landlord will incur California Civil Code, but the payment of such late charge shall not excuse or cure any default by reason Tenant under this Lease. The parties further agree that the payment of late charges and the payment of interest provided for in Section 24.1 are distinct and separate from one another in that the payment of ------------ interest is to compensate Landlord for the use of Landlord's money by Tenant. In no event shall this provision for , while the payment of a late charge be deemed is to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent compensate Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation for the right to terminate this Lease. In the event any installment of Rent is not received additional administrative expense incurred by Landlord by the thirtieth (30th) day after the due date for in handling and processing delinquent payments, but excluding attorneys' fees and costs incurred with respect to such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fulldelinquent payments.

Appears in 1 contract

Samples: Lease (Global Crossing LTD)

Late Charge. 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 (as defined in Paragraph 4.3 below)Rent, without the necessity of prior notice or demand, a late charge equal to five ten percent (510%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs cost Landlord will incur by reason of late payment by Tenant. In in no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from front exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including 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 at the annual rate set forth in Paragraph 35 33 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 1 contract

Samples: That Certain Lease Agreement (Nhancement Technologies Inc)

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant 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. Such costs include, but If any Rent or other sums due from Tenant are not limited toreceived by Landlord or by Landlord’s designated agent within five (5) days after the date such Rent or other sum is due, 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, then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five six percent (56%) of such overdue amount, plus any installment of Rent which is not received attorneys’ fees incurred by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment by reason of Rent by Tenant in any twelve month period, Tenant shall not be obligated Tenant’s failure to pay a late charge on such delinquent Rent unless and/or other charges when due hereunder. Landlord and Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents charges represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant’s late payment by payment. Landlord’s acceptance of such late charges shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed ’s default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this Lease. In Notwithstanding the event foregoing, Tenant shall be entitled to one (1) grace period in any installment of twelve (12) consecutive month period whereby Landlord shall provide Tenant written notice that any Rent is not received by past due, and so long as Tenant pays to Landlord by the thirtieth amount due within five (30th5) day days after the due date Tenant’s receipt of Landlord’s notice, no late charge will be assessed for such installmentlate payment. Initials: Landlord: Tenant: By: /s/Hxxxxx Xxxxxxxxxxx By: /s/ Cxxxxxx Xxxxxxx Hxxxxx Xxxxxxxxxxx Cxxxxxx Xxxxxxx, such installment shall bear interest at the annual rate set forth in Paragraph 35 belowCEO Manager /s/ Nxxxxx Xxxxxxxxx Nxxxxx Xxxxxxxxx, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.CFO

Appears in 1 contract

Samples: Lease Agreement (Silicon Image Inc)

Late Charge. If Tenant hereby fails to pay when due rental or other amounts due Landlord hereunder, such unpaid amounts shall bear interest for the benefit of Landlord at a rate equal to the lesser of the legal rate of interest under California Civil Code Section 3289, (or any legal rate of interest which replaces the rate specified in Section 3289) per annum or the maximum rate permitted by law, from the date due to the date of payment. In addition to such interest Tenant shall pay to Landlord a late charge in an amount equal to five percent (5%) of any installment of minimum rental and any 10 other amounts due Landlord if not paid in full on or before the fifth (5th) day after such rental or other amount is due; provided, however, on the first occasion in each calendar year of which Tenant fails to pay such rental or other amount on or before the fifth day after it is due, the late charge shall not apply if Tenant pays the delinquent amount within five days after receiving written notice from Landlord that the amount is past due. Tenant acknowledges that late payment by Tenant to Landlord of Rent rental or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Leasecase, the exact amount of which will be extremely difficult to ascertain. Such costs includeincluding, but are not limited towithout limitation, processing and accounting charges, charges and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering loan relating to the Premises. Accordingly, Tenant shall pay further acknowledges that it is extremely difficult and impractical to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without fix the necessity exact amount of prior notice or demand, a such costs and that the late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant set forth in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge this Section 3.2 represents a fair and reasonable estimate thereof. Acceptance of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a any late charge be deemed by Landlord shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period overdue rental or extension of time within which to pay any installment of Rent or other amounts, nor shall such acceptance prevent Landlord from exercising any right or remedy other rights and remedies available to Landlord upon Tenant's failure to pay such installment it. Acceptance of Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent is not received 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 prior installments thereof, nor of any other defaults by the thirtieth (30th) day after the due date for such installmentTenant, such installment shall bear interest whether monetary or non-monetary in nature, remaining uncured at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for time of such installment and continuing until such installment is paid in fullacceptance of rent or other payments.

Appears in 1 contract

Samples: Lease (Ribogene Inc / Ca/)

Late Charge. If Tenant hereby acknowledges that late fails to make any payment by of rent, expenses or other amounts required of Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by under 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord Lease within ten (10) days after of the date such amount is due date as set forth in this Lease, then, in addition to any other amounts recoverable by Landlord hereunder, Tenant shall pay Landlord a late charge in an amount equal to $0.05 for such installmenteach dollar past due. The preceding to Notwithstanding the contrary notwithstandingforegoing, Landlord agrees thatif Tenant fails, with respect to the first late payment of Rent by Tenant in on two (2) separate occasions within any twelve (12) month period, to make any payment of rent, expenses or other amounts required of Tenant under this Lease within ten (10) days of the date each such payment is due, then for the remainder of the Lease Term, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless in an amount equal to $0.05 for each dollar past due if Tenant thereafter fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment payment of Rent rent or prevent other amount required under this Lease promptly when due. Such late charge shall be due notwithstanding the fact that no notice is given by Landlord to Tenant of such failure to pay. The late charge provided in this Section shall be the sole damages which Landlord may recover from exercising Tenant for the delay by Tenant in making any payment within ten (10) days from the date such payment is due until thirty (30) days after the date such payment is due, but this Section shall not limit Landlord's right to recover any other amount due pursuant to this Lease, Landlord's damages equivalent to the amount of the rent or remedy available to Landlord upon other payments if this Lease is terminated, Landlord's damages or costs for Tenant's failure to pay for a period beyond thirty (30) days from the date such installment of Rent when payment is due, including without limitation the Landlord's reasonable cost and expense in connection with any litigation and Landlord's right to terminate any other remedy such as terminating this Lease. In , recovering possession of the event any installment Premises or injunctive relief, which remedies shall be governed by Sections 13.2 and 13.3 of Rent is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullthis Lease.

Appears in 1 contract

Samples: Net2000 Communications Inc

Late Charge. Tenant hereby acknowledges Lessee(s) acknowledge that late payment by Tenant to Landlord of Rent will rent may cause Landlord Lessor to incur costs not contemplated by this Leaseand expenses, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs cost may include, but are not limited to, processing and accounting chargesexpenses, and late charges which that may be imposed on Landlord Lessor by the terms of any mortgage or deed loan secured by property, costs for additional attempts to collect rent, and preparation of trust covering the Premisesnotices. AccordinglyTherefore, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of if any installment of Rent which rent due from Lessee(s) is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent Lessor within five (5) business calendar days following receipt after date due, and if Lessor elects to accept rent after the 5th day of written notice the month, Lessee(s) shall pay to Tenant. Except with respect to the first delinquency in the payment Lessor an additional sum of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing $50.00 as a late charge on such delinquent Rentwhich shall deemed additional rent. The parties hereby Parties agree that such this late charge represents a as fair and reasonable estimate of the costs Landlord will that Lessor may incur by reason of Lessee(s)'s late payment by Tenantpayments. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Lessee(s)'s default with respect to grant to Tenant a grace period or extension of time within which to pay any installment of Rent the past due amount, or prevent Landlord Lessor from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when dueother rights and remedies under this agreement, including and as provided by law. If a late lease payment is received and accepted by Lessor without limitation 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 terminate notify Lessee(s) to vacate premises within fifteen (15) days. If this Leaseoccurs, Lessee(s) will forfeit deposit and will not be released from lease terms until premises are again leased and any discrepancies in lease agreement, either previously of hereinafter, have been satisfied. In If more than one party is responsible for the event any installment total lease payment, partial payment will not be accepted as it will be the responsibility of Rent is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth these parties to make payment in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid whole as described in fullthis lease agreement.

Appears in 1 contract

Samples: Residential Lease Agreement

Late Charge. 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent or other amount payable by Tenant under this Lease which is not received by Landlord within ten (10) days after the due date for such installmentinstallment or payment. The preceding to Notwithstanding the contrary notwithstandingforegoing, Landlord agrees that, with respect to will not assess a late charge until Landlord has given written notice of such late payment for the first late payment of Rent by Tenant in any twelve (12) month period, period and after Tenant shall has not cured such late payment within three (3) days from receipt of such notice. No other notices will be obligated to pay required during the following twelve (12) months for a late charge on such delinquent Rent unless Tenant fails to be imposed or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentincurred. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or other sum payable by Tenant to Landlord under this Lease or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Rent or other sum when due, including without limitation the right to terminate this Lease. In the event any installment of Rent or other sum payable by Tenant to Landlord under this Lease is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 34 below, commencing on the thirty-first (31st) day after the date such Rent installment or other sum payable under this Lease is due date for such installment and continuing until such installment or other sum payable under this Lease is paid in full.

Appears in 1 contract

Samples: Net Lease Agreement (Proteinsimple)

Late Charge. Tenant hereby acknowledges that the late payment by Tenant of any installment of Rent, or any other sum of money required to Landlord of Rent be paid by Tenant under this Lease, will cause Landlord to incur certain costs and expenses not contemplated by under this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs and expenses will include, but are not limited towithout limitation, attorneys’ fees, administrative and collection costs, and processing and accounting chargesexpenses and other costs and expenses necessary and incidental thereto. If any Base Monthly Rent or Additional Rent is not received by Landlord from Tenant when due such payment is due, and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, then Tenant shall immediately pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses rent as liquidated damages for Tenant’s failure to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenantmake timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such any installment of Rent when duedue under this Lease in a timely fashion, including without limitation the any right to terminate this Lease. In Lease pursuant to Section 13.2B. Notwithstanding the event any installment foregoing, Tenant shall not be obligated to pay a late charge pursuant to this Section 3.4A, or interest thereon pursuant to Section 3.4.B, below, for the first (1st) late payment of Rent (whether such late payment is not received by with respect to Base Monthly Rent or Additional Rent) in any calendar year, unless Tenant fails to make such payment within five (5) days after Tenant’s receipt of notice from Landlord by the thirtieth (30th) day after the due date for regarding such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fulllate payment.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Intevac Inc)

Late Charge. Tenant hereby acknowledges In the event that late Borrower fails to make ----------- any payment by Tenant of money due to Landlord Lender under this Agreement within five (5) days after receipt of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact written notice from Lender that such 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 is past due after any mortgage or deed of trust covering the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demandcure period, if any, Lender shall be entitled to collect a late charge equal as liquidated damages, which late charge shall be due in addition to any interest, whether or not calculated at the Default Rate, in connection with each such delinquency in payment. Because the actual damages suffered by Lender would be impracticable or extremely difficult or impossible to determine, in compensation for such delinquent payment, Borrower agrees that three percent (3%) of the amount of the delinquent payment due and owing shall be the amount of damages to which Lender is entitled upon the first such breach during any twelve (12) month period and that five percent (5%) of the amount of the delinquent payment due and owing shall be the amount of damages to which Lender is entitled for the second and any subsequent such breach during any twelve (12) month period. Borrower shall, in any such event, pay to Lender the late charge in such amount for each such installment of Rent for which payment is not received by Landlord within ten (10) days Lender on or before the date any such payment is due, Lender and Borrower agreeing that the amount of such liquidated damages is reasonable. The provisions of this paragraph are intended to govern only the determination of the above-described damages in the event of a failure in the performance of the obligation of Borrower to make timely payments hereunder or under any of the other Loan Documents. Nothing in this Agreement shall be construed as an express or implied agreement by Lender to forbear in the collection of any delinquent payment after the due date for occurrence of an Event of Default or shall be construed as in any way giving Borrower the right, express or implied, to fail to make timely payments hereunder, whether upon payment of such installmentdamages or otherwise. The preceding Notwithstanding anything to the contrary notwithstandingcontained herein, Landlord agrees that, with respect the right of Lender to receive payments of such liquidated damages is without prejudice to the first late payment right of Rent by Tenant in Lender to collect any twelve month period, Tenant shall not delinquent payments and any other amounts required to be obligated to pay a late charge on such delinquent Rent unless Tenant fails paid hereunder or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate under any of the costs Landlord will incur other Loan Documents or to declare a default and to exercise any rights and remedies hereunder or under any of the other Loan Documents, or otherwise provided by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period law or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullequity.

Appears in 1 contract

Samples: Loan Agreement (Marriott Residence Inn Limited Partnership)

Late Charge. Tenant hereby Lessee acknowledges that the late payment by Tenant to Landlord of Rent will cause Landlord Lessor to incur costs not contemplated by this Leasedamages, including administrative costs, loss of use of the overdue funds and other costs, the exact amount of which will would be impractical and extremely difficult to ascertain. Such costs includeLessor and Lessee agree that if Lessor does not receive a payment of Rent within five (5) business days after the date that such payment is due, 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 Lessee shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Lessor a late charge (“Late Charge”) equal to five percent (5%) of any installment the delinquent amount, or the sum of Rent twenty-five dollars ($25.00), whichever is greater, as liquidated damages for the damages which Lessor is not received by Landlord within ten likely to incur for the thirty (1030) days after day period following the due date for of such installmentpayment. The preceding to the contrary notwithstandingFurther, Landlord agrees that, with respect to the first late payment all portions of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent paid within five thirty (530) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 its due date for such installment, such installment and all Late Charges associated therewith shall bear interest at the annual rate set forth in Paragraph 35 Interest Rate (as defined below, commencing ) beginning on the thirty-first (31st) day after following the due date for of such installment Rent and continuing until such installment is Rent, Late Charges and interest are paid in full. Notwithstanding the foregoing, no Late Charge shall be assessed by Lessor against the first delinquent payment of Rent during the Term as long as Lessee makes payment of Rent within five (5) business days after receipt of written notice from Lessor that such payment was not made when due. Acceptance of the Late Charge, and/or interest by Lessor shall not cure or waive Lessee’s default, nor prevent Lessor from exercising, before or after such acceptance, any and all of the rights and remedies for a default provided by this Lease or at law or in equity. Payment of the Late Charge is not an alternative means of performance of Lessee’s obligation to pay Rent at the times specified in this Lease. Lessee shall pay Lessor a fee of $30.00 for each check that Lessor shall receive from Lessee that is not honored by the bank upon which it is drawn. Furthermore, if two (2) checks given to Lessor by Lessee within any twelve (12) months period shall not be honored by the bank upon which it is drawn, Lessor, at its option, may require all subsequent payments made by Lessee to Lessor over the next twelve (12) months to be by certified check, cashier’s check, money order, or wire transfer. The term “Interest Rate” shall mean the lower of (a) the maximum interest rate permitted by law, or (b) twelve percent (12%) per annum. Whenever interest is required to be paid under this Lease, the interest shall be calculated from the date the payment was due (unless a late charge is assessed by Lessor, in which case the interest shall be calculated from the thirty-first (31st) day following the date the payment was due) or should have been due if correctly assessed or estimated (or any overcharge paid), until the date payment is made or the refund is paid or is credited against Rent next due. However, there shall not be any credit against Rent unless expressly allowed by the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Fisker Inc./De)

Late Charge. If Tenant hereby fails to pay when due rental or other amounts due Landlord hereunder, such paid amounts shall bear interest for the benefit of Landlord at a rate equal to the lesser of fifteen percent (15%) per annum or the maximum rate permitted by law, from the date due to the date of payment. In addition to such interest, Tenant shall pay to Landlord a later charge in an amount equal to five percent (5%) of any installment of minimum rental and any other amounts due Landlord if not paid in full on or before the third (3rd) day after written notice from Landlord to Tenant that such rental or other amount is past due; PROVIDED, however, that if any payment of rent or other amounts by Tenant is more than five (5) days late and Landlord gave written notice of delinquency to Tenant prior to such payment, than for the next twelve (12) calendar months after such written notice was given, Tenant shall be liable for later charges on any further payment of rental or other amount that is not paid on or before the fifth (5th) day after such rental or other amount is due, WITHOUT any requirement of prior notice from Landlord to Tenant of such default or delinquency. Tenant acknowledges that late payment by Tenant to Landlord of Rent rental 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. Such costs includeincluding, but are not limited towithout limitation, processing and accounting charges, charges and late charges which may be imposed on Landlord by the terms of any mortgage or deed loan relating to the Property. Tenant further acknowledges that it is extremely difficult and impractical to fix the exact amount of trust covering such costs and that the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant set forth in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge this Section 3.2 represents a fair and reasonable estimate thereof. Acceptance of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a any late charge be deemed by Landlord shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period overdue rental or extension of time within which to pay any installment of Rent or other amounts, nor shall such acceptance prevent Landlord from exercising any right or remedy other rights and remedies available to Landlord upon Tenant's failure to pay such installment it. Acceptance of Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent is not received 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 prior installments thereof, nor of any other defaults by the thirtieth (30th) day after the due date for such installmentTenant, such installment shall bear interest whether monetary or non-monetary in nature, remaining uncured at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for time of such installment and continuing until such installment is paid in fullacceptance of rent or other payments.

Appears in 1 contract

Samples: Probusiness Services Inc

Late Charge. Tenant hereby acknowledges that late To cover the additional expense incurred by the Sublandlord in the handling of delinquent payment of Sublease Fixed Rent, Article 4 Rent, and other Sublease Additional Charges payable to Sublandlord by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this LeaseSubtenant pursuant hereto, the exact Subtenant will pay on demand if and to the extent permitted by applicable law, (i) if such failure shall continue for four (4) days, a "late charge" in an amount equal to 3% of which will be extremely difficult such delinquent payment to ascertain. Such costs include, but are not limited to, processing and accounting chargescover the administrative expenses of handling such late payment, and (ii) for each dollar of such Sublease Fixed Rent, Article 4 Rent and other Sublease Additional Charges received after its due date, interest to accrue from the date such amounts of Sublease Fixed Rent, Article 4 Rent and other Sublease Additional Charges first became due hereunder at the lesser of (A) the Interest Rate or (B) the maximum rate permitted by law. Subtenant shall not be required to pay such late charges which may be imposed on Landlord by charge with respect to any such late Sublease Rent (the terms "Qualified Late Payment") if (x) Subtenant shall not have failed to pay when due any other payment of any mortgage or deed of trust covering Sublease Rent within the Premises. Accordingly, Tenant 12 month period preceding the due date for the Qualified Late Payment and (y) Subtenant shall pay the Qualified Late Payment to Landlord, as Additional Sublandlord within five (5) days after notice from Sublandlord of such failure. Subtenant shall not be required to pay such interest with respect to any such late Sublease Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal "Applicable Late Payment") if (A) Subtenant shall not have failed to five percent (5%) of pay when due any other installment of Sublease Rent which is not received by Landlord within the 12 month period preceding the due date for the Applicable Late Payment and (B) Subtenant shall pay the Applicable Late Payment to Sublandlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullApplicable Late Payment.

Appears in 1 contract

Samples: Lease (Instinet Group Inc)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Monthly Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant shall not be received by Landlord or its designee within five (5) days after it is due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) percent of any installment of Rent such overdue amount, which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge shall be due and payable on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in same date that the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentoverdue amount was due. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, excluding interest and attorneys fees and costs. If any Base Monthly Rent or other sum due from Tenant remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate (defined in Section 13.B) from the date such amount became due until paid. Acceptance by Landlord of such late charge shall not 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. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate amount due under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 1 contract

Samples: Cavium, Inc.

Late Charge. If Tenant hereby acknowledges that late fails to make any payment by of rent, ----------- expenses or other amounts required of Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by under 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord Lease within ten (10) days after of the date such amount is due date for such installment. The preceding as set forth in this Lease, then, in addition to the contrary notwithstanding, any other amounts recoverable by Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month periodhereunder, Tenant shall not be obligated pay Landlord a late charge in an amount equal to $0.06 for each dollar past due. If Tenant fails, on three (3) separate occasions, to make any payment of rent, expenses or other amounts required of Tenant under this Lease within three (3) days of the date each such payment is due, then for the remainder of the Lease Term, Tenant shall pay a late charge on such delinquent Rent unless in an amount equal to $0.06 for each dollar past due if Tenant thereafter fails or refuses to pay any payment of rent or other amount required under this Lease promptly when due. Such late charge shall be due notwithstanding the fact that no notice is given by Landlord to Tenant of such Rent within five failure to pay. Notwithstanding the foregoing, if on three (53) business days following receipt separate occasions Tenant has received notice from Landlord that it has failed to pay rent, expenses or other amounts promptly when due, Tenant shall pay Monthly Rental for the balance of written notice to Tenant. Except with respect to the term of this Lease on a quarterly basis, in advance, on the first delinquency in day of each such quarter. Landlord and Tenant agree that it would be extremely difficult and impractical to fix the payment of Rent in a twelve month period, actual damages sustained by Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a for such default and that the late charge on such delinquent Rent. The parties hereby agree that such late charge represents or quarterly rental payment set forth in this Section is a fair and reasonable estimate of such damages at this time. Landlord anticipates that such damage would include the administrative costs Landlord will incur by reason and expenses, the cost of late payment by Tenantarranging for borrowed funds and attorneys' fees. In no event shall this provision for a The late charge provided in this Section shall be deemed the sole damages which Landlord may recover from Tenant for the delay by Tenant in making any payment within ten (10) days from the date such payment is due until thirty (30) days after the date such payment is due, but this Section shall not limit Landlord's right to grant recover any other amount due pursuant to this Lease, Landlord's damages equivalent to the amount of the rent or other payments if this Lease is terminated, Landlord's damages or costs for Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay for a period beyond thirty (30) days from the date such installment of Rent when payment is due, including without limitation the Landlord's cost and expense in connection with any litigation and Landlord's right to terminate any other remedy such as terminating this Lease. In , recovering possession of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullPremises or injunctive relief.

Appears in 1 contract

Samples: Office Building Lease (Physicians Quality Care Inc)

Late Charge. Tenant Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment by Tenant to Landlord Lessor of Rent will cause Landlord 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 Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated If Lessee fails to pay a late charge on such delinquent any Rent unless Tenant fails or refuses owed to pay such Rent Lessor within five (5) business days following receipt of written notice after the date any such payment is required to Tenant. Except be made hereunder and, except as hereafter provided with respect to late payments of monthly installments of Annual Base Rent, fails to cure such default within two (2) days after receipt of notice (which notice may be telephone) from Lessor, then Lessee shall pay to Lessor a late EXHIBIT 10.27 *CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. charge equal to [*] percent ([*]%) of such overdue amount, plus any costs and === === attorneys' fees incurred by Lessor by reason of Lessee's failure to pay such Rent when due hereunder. Notwithstanding the first delinquency in the payment foregoing, with respect to late payments of Rent in a twelve 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 periodperiod under this Lease and, Landlord thereafter, Lessee shall not be obligated to give Tenant notice of delinquent Rent prior to imposing owe a late charge on to Lessor if any monthly installment of Annual Base Rent is not paid within five (5) days after the date such delinquent Rentinstallment is due. The parties Lessor and Lessee hereby agree that such late charge represents charges represent a fair and reasonable estimate of the costs Landlord that Lessor will incur by reason of Lessee's late payment by Tenantand shall not be construed as a penalty. In no event Lessor's acceptance of such late charges shall this provision for not constitute a late charge be deemed waiver of Lessee's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent Landlord estop Lessor from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Initials: ------------- ------------ Lessor Lessee

Appears in 1 contract

Samples: Equinix Inc

Late Charge. Tenant Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment by Tenant to Landlord Lessor of Rent will cause Landlord Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs includeIf Lessee fails to pay any Rent owed to Lessor within five (5) days after the date any such payment is required to be made hereunder and, but are not limited toexcept as hereafter provided with respect to late payments of monthly installments of Annual Base Rent, processing and accounting charges, and late charges fails to cure such default within two (2) days after receipt of notice (which notice may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordinglytelephone) from Lessor, Tenant then Lessee shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Lessor a late EXHIBIT 10.27 charge equal to five percent (5%) of such overdue amount, plus any installment costs and attorneys' fees incurred by Lessor by reason of Lessee's failure to pay such Rent which is not received by Landlord within ten (10) days after when due hereunder. Notwithstanding the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees thatforegoing, with respect to the first late payment payments of Rent by Tenant in any twelve 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 periodperiod under this Lease and, Tenant thereafter, Lessee shall not be obligated to pay owe a late charge on such delinquent to Lessor if any monthly installment of Annual Base Rent unless Tenant fails or refuses to pay such Rent is not paid within five (5) business days following receipt of written notice to Tenantafter the date such installment is due. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties Lessor and Lessee hereby agree that such late charge represents charges represent a fair and reasonable estimate of the costs Landlord that Lessor will incur by reason of Lessee's late payment by Tenantand shall not be construed as a penalty. In no event Lessor's acceptance of such late charges shall this provision for not constitute a late charge be deemed waiver of Lessee's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent Landlord estop Lessor from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Initials: ------------- ------------ Lessor Lessee

Appears in 1 contract

Samples: Equinix Inc

Late Charge. Notwithstanding any other provision of this Lease to the contrary, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited toreceived by Landlord or by Landlord's designated agent within three (3) days after their due date, 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, then Tenant shall pay to LandlordLandlord a late charge equal to ten percent (10%) of such overdue amount, as Additional plus any costs and attorneys' fees incurred by Landlord by reason of Tenant's failure to pay Rent (as defined in Paragraph 4.3 below)and/or other charges when due hereunder; provided, without however, that if Tenant establishes and maintains a direct deposit account with ______________ for payment to the necessity account of prior notice or demand______________, during such period Landlord agrees that Tenant shall only be liable for a late charge equal to five percent (5%) if payment of any installment of Rent which overdue amount is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenantfrom Landlord that such amounts were not received when due. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents charges represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant's late payment by and shall not be construed as a penalty. Landlord's acceptance of such late charges shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed 's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Initials: Landlord: /s/ MK Tenant: /s/ WJR ----------- ------------

Appears in 1 contract

Samples: Lease Agreement (Broadcom Corp)

Late Charge. Time is of the essence to the performance of this Lease. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent any rent or other sums due under this Lease will cause Landlord to incur costs not contemplated by this Leaseand damages, the exact amount of which will be extremely difficult to ascertain. Such costs include, including but are not limited to, to processing and accounting charges, charges and late charges which that may be imposed on Landlord by the terms of any mortgage or deed of trust covering encumbrance secured by the Premises, as well as the loss of the use and time value of money. AccordinglyLandlord and Tenant specifically agree and acknowledge that the exact amount of such costs and damages would be difficult or impossible to prove. Tenant agrees that, if any rent or other sum due from Tenant is not received within five (5) days from when due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge Landlord an additional sum equal to five percent (5%) of any installment of Rent which the amount that is not received by Landlord within ten (10) days after the due date for due; provided, however, that such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall charges will not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent assessed if Tenant, within five (5) business days following receipt after notice from Landlord of written notice such failure to Tenantmake a timely payment, pays the entire unpaid amount to Landlord. Except Landlord will be required to provide Tenant with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant such notice of delinquent Rent prior to imposing a late charge on such delinquent Rentdelinquency only once during each calendar year. The parties Landlord and Tenant hereby agree that such they have attempted to estimate the amount of costs and damages which would result from delay in payment, and that the agreed late charge represents a fair and reasonable estimate of the costs and damages that Landlord will incur by reason of any such late payment in light of the anticipated or actual harm which would be caused by such delay, the difficulties of proof of loss, and the inconvenience or non-feasibility of Landlord otherwise obtaining an adequate remedy. Additionally, all such delinquent rent or other sums, plus this late charge, shall bear interest from the date due at the rate per annum set forth in Section 1.9 above; provided, however, that interest will not be assessed on delinquent rent and other sums if Tenant, within five (5) days after notice from Landlord of such delinquent rent or other sum, pays the entire unpaid amount to Landlord. In no event shall this provision Landlord will be required to provide Tenant with such notice of delinquency only once during each calendar year. Any payments of any kind returned for insufficient funds will be subject to an additional handling charge of $25.00. If Landlord employs a late charge be deemed collection agency to grant to recover delinquent charges, Tenant a grace period or extension of time within which agrees to pay any installment of Rent or prevent Landlord from exercising any right or remedy available all collection agency fees charged to Landlord upon Tenant's failure in addition to pay such installment of Rent when duerent, including without limitation the right to terminate late charges, interest and other sums payable under this Lease. In the event any installment Tenant shall pay a charge of Rent is not received by $75 to Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date preparation of a demand for such installment and continuing until such installment is paid in fulldelinquent rent.

Appears in 1 contract

Samples: Homegrocer Com Inc

Late Charge. Tenant hereby acknowledges that the late payment by Tenant of any installment of rent, or any other sum of money required to Landlord of Rent be paid by Tenant under this Lease, will cause Landlord to incur certain costs and expenses not contemplated by under this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs and expenses will include, but are not limited towithout limitation, attorneys' fees, administrative and collection costs, and processing and accounting chargesexpenses and other costs and expenses necessary and incidental thereto. If any Base Monthly Rent or Additional Rent is not received by Landlord from Tenant when due such payment is due, and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, then Tenant shall immediately pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) 10% of any installment of Rent which is not received by Landlord within ten (10) days after the due date such delinquent rent as liquidated damages for such installment. The preceding Tenant's failure to the contrary notwithstandingmake timely payment; provided, however, that Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, that Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses have to pay such Rent late charge if it makes its payment in full within five (5) business days following after receipt of written notice to Tenant. Except with respect to from Landlord, except that this notice and cure period shall only be applicable for the first delinquency in the two times Tenant fails to pay any Base Monthly Rent or Additional Rent when due during each calendar year. If Landlord has provided two notices of a late payment of Rent in or default during a twelve month periodcalendar year, Landlord shall not be obligated to give Tenant provide any notice thereafter for the remainder of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that calendar year and such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late shall be due if payment by Tenantis not made when due without any grace period or notice. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when dueany rent due under this Lease in a timely fashion, including without limitation the any 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Lease pursuant to PARA 13.2B.

Appears in 1 contract

Samples: Acceptance Agreement (Bookham, Inc.)

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Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Monthly Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant shall not be received by Landlord or its designee within five (5) days after it is due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent three (53%) percent of any installment of Rent such overdue amount, which is not received by Landlord within ten late charge shall be due and payable on the same date that the overdue amount was due. Notwithstanding the foregoing, Tenant shall be entitled to one (101) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to notice and five (5)-day cure period each calendar year before the first late payment of Rent by Tenant in charge for such calendar year shall accrue. No notice or additional cure period shall be required or apply for the second or any twelve month period, Tenant shall not be obligated to pay a subsequent late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in during a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentcalendar year. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, excluding interest and attorneys fees and costs. If any Base Monthly Rent or other sum due from Tenant remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate (defined in Section 14.B) from the date such amount became due until paid. Acceptance by Landlord of such late charge or interest shall not 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. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate amount due under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 1 contract

Samples: Lease, (Palo Alto Networks Inc)

Late Charge. 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five ten percent (510%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding sentence to the contrary notwithstanding, Landlord agrees that, solely with respect to the first time a late payment of Rent by Tenant in any twelve month periodcharge would be imposed under this Section 4.2, Tenant shall not be obligated have an additional ten (10) days (beyond the ten (10) day grace period referred to pay a late charge on such delinquent in the immediately preceding sentence) following written notice to Tenant that an installment of Rent unless Tenant fails or refuses is past due, to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment delinquent installment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a and thereby avoid such initial late charge on such delinquent Rentbeing imposed by Landlord. The parties hereby agree that such late charge charges represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 (30th30/th/) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 34 below, commencing on the thirty-first (31st31/st/) day after the due date for such installment and continuing until such installment is paid in full. Interest shall not accrue on any late charges imposed by Landlord on Tenant.

Appears in 1 contract

Samples: Net Lease Agreement (Navisite Inc)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Rent and Additional Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Rent or Additional Rent or other sum due from Tenant shall not be received by Landlord or its designee by the fifth (5th) of each month, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent Twenty-Five Dollars (5%$25.00) of any installment of Rent in addition to such overdue amount, which is not received by Landlord within ten (10) days after late charge shall be due and payable on the due same date for such installmentthat the overdue amount was due. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby Parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision If any rent remains delinquent for a period in excess of thirty (30) days, then in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate specified in Paragraph 46 following the date such amount became due until paid. Acceptance by Landlord of such late charge be deemed shall not constitute a waiver of Tenant’s default with respect to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or such overdue amount nor prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this Leaseother rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Rent, then the Base Rent and Additional Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any installment provision of Rent is not received by Landlord by this Lease to the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullcontrary.

Appears in 1 contract

Samples: Lease Agreement (Circle Bancorp)

Late Charge. Tenant hereby acknowledges In the event that late Borrower fails to make any payment by Tenant of money due to Landlord Lender under this Agreement within five (5) days after receipt of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact written notice from Lender that such 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 is past due after any mortgage or deed of trust covering the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demandcure period, if any, Lender shall be entitled to collect a late charge equal as liquidated damages, which late charge shall be due in addition to any interest, whether or not calculated at the Default Rate, in connection with each such delinquency in payment. Because the actual damages suffered by Lender would be impracticable or extremely difficult or impossible to determine, in compensation for such delinquent payment, Borrower agrees that three percent (3%) of the amount of the delinquent payment due and owing shall be the amount of damages to which Lender is entitled upon the first such breach during any twelve (12) month period and that five percent (5%) of the amount of the delinquent payment due and owing shall be the amount of damages to which Lender is entitled for the second and any subsequent such breach during any twelve (12) month period. Borrower shall, in any such event, pay to Lender the late charge in such amount for each such installment of Rent for which payment is not received by Landlord within ten (10) days Lender on or before the date any such payment is due, Lender and Borrower agreeing that the amount of such liquidated damages is reasonable. The provisions of this paragraph are intended to govern only the determination of the above-described damages in the event of a failure in the performance of the obligation of Borrower to make timely payments hereunder or under any of the other Loan Documents. Nothing in this Agreement shall be construed as an express or implied agreement by Lender to forbear in the collection of any delinquent payment after the due date for occurrence of an Event of Default or shall be construed as in any way giving Borrower the right, express or implied, to fail to make timely payments hereunder, whether upon payment of such installmentdamages or otherwise. The preceding Notwithstanding anything to the contrary notwithstandingcontained herein, Landlord agrees that, with respect the right of Lender to receive payments of such liquidated damages is without prejudice to the first late payment right of Rent by Tenant in Lender to collect any twelve month period, Tenant shall not delinquent payments and any other amounts required to be obligated to pay a late charge on such delinquent Rent unless Tenant fails paid hereunder or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate under any of the costs Landlord will incur other Loan Documents or to declare a default and to exercise any rights and remedies hereunder or under any of the other Loan Documents, or otherwise provided by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period law or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullequity.

Appears in 1 contract

Samples: Loan Agreement (Marriott Residence Inn Limited Partnership)

Late Charge. Tenant hereby acknowledges that The late payment by Tenant to Landlord of any installment of Annual Rental or Additional Rent will cause Landlord to incur additional costs, including administration and collection 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, and processing and accounting charges, expenses and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premisesincreased debt service (“Delinquency Costs”). Accordingly, Tenant shall pay to Landlordreceive, as Additional Rent during the term hereof, a grace period (as defined in Paragraph 4.3 beloweach, a “Grace Period”), without the necessity of prior notice or demand, a late charge equal not to exceed five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installmentany installment of Annual Rental or Additional Rent. The preceding No Late Charge as defined herein shall be due as long as the applicable installment of Annual Rental or Additional Rental is paid on or before the expiration of the applicable Grace Period. As to any installment of Annual Rent or Additional Rent which Landlord has not received prior to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment expiration of Rent by Tenant in any twelve month periodsuch Grace Period , Tenant shall not be obligated to pay a late charge on such delinquent equal to three percent (3%) of the installment of Annual Rent unless Tenant fails or refuses Additional Rent payment which was not paid timely (“Late Charge”) which is agreed to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in represent a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Delinquency Costs incurred by Landlord. Landlord and Xxxxxx recognize that the damage which Landlord shall suffer as a result of Xxxxxx’s failure to pay such amounts is difficult to ascertain and said Late Charge is the best estimate of the damage which Landlord shall suffer in the event of late payment. So long as any amounts remain outstanding under the State Note, the Late Charge will be paid to the Independent Collection Agent to be applied towards the payment of any late charges due under the State Note, and any remaining balance shall be paid to Landlord. If the State Note is no longer outstanding, then the Late Charges shall be paid directly to Landlord. Late Charges due to Landlord are independent and separate from any Late Charges which Tenant may incur to State by reason of late any payment by under the State’s Note not being made on or before the due date as a result of Tenant. In no event shall this provision for a late charge be deemed ’s failure to grant to Tenant a grace period or extension of time within which to timely pay any installment of Annual Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent payable hereunder as and when due, including without limitation though Landlord acknowledges and agrees that the right Independent Collection Agent will utilize the Late Charges paid by Tenant under this Lease to terminate this Lease. In satisfy any late charges which may be due under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullState Note.

Appears in 1 contract

Samples: Ground Lease

Late Charge. 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, 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent or other amount payable by Tenant under this Lease which is not received by Landlord within ten five (105) business days after the due date for such installmentinstallment or payment. The preceding to Notwithstanding the contrary notwithstandingforegoing, Landlord agrees that, with respect to will not assess a late charge until Landlord has given written notice of such late payment for the first late payment of Rent by Tenant in any twelve (12) month period, period and after Tenant shall has not be obligated to pay a cured such late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent payment within five (5) business days following from receipt of written notice to Tenantsuch notice. Except with respect to No other notices will be required during the first delinquency in the payment of Rent in a following twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing (12) months for a late charge on such delinquent Rentto be imposed or incurred. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or other sum payable by Tenant to Landlord under this Lease or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Rent or other sum when due, including without limitation the right to terminate this Lease. In the event any installment of Rent or other sum payable by Tenant to Landlord under this Lease is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 34 below, commencing on the thirty-first (31st) day after the date such Rent installment or other sum payable under this Lease is due date for such installment and continuing until such installment or other sum payable under this Lease is paid in full.

Appears in 1 contract

Samples: Improvement Agreement (Calix, Inc)

Late Charge. Tenant Notwithstanding any other provisions of this Sublease, Subtenant hereby acknowledges that late payment by Tenant to Landlord Sublandlord of Rent Rent, or other amounts due hereunder will cause Landlord Sublandlord to incur costs not contemplated by this LeaseSublease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but If any Rent or other sums due from Subtenant are not limited toreceived by Sublandlord or by Sublandlord's designated agent within ten (10) days after their due date, 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 then Subtenant shall pay to LandlordSublandlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice for each month or demandpartial 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 installment of Rent which is not received attorneys' fees incurred by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, Sublandlord in connection with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated Subtenant's failure to pay a late Rent and/or other charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenantwhen due hereunder. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties Sublandlord and Subtenant hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord cost that Sublandlord will incur by reason of Subtenant's late payment by Tenantpayment. In no event shall this provision for a Sublandlord's acceptance of such late charge be deemed shall not constitute a waiver of Subtenant's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent Landlord stop Sublandlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under this LeaseSublease. 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Initials: Sublandlord Subtenant /s/ DWG ---------------- ---------------

Appears in 1 contract

Samples: Lease Agreement (Scios Inc)

Late Charge. Tenant Sublessee hereby acknowledges that late payment by Tenant ----------- Sublessee to Landlord Sublessor of Base Rent will cause Landlord Sublessor to incur costs not contemplated by this LeaseSublease, the exact amount of which will be extremely difficult to ascertain. Such such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord Sublessor by the terms of any mortgage or deed of trust covering the PremisesLease. Accordingly, Tenant Sublessee shall pay to LandlordSublessor, as Additional Rent (as defined in Paragraph 4.3 5.3 below), without the necessity of prior notice or demanddemand (except as expressly provided below in this Paragraph 5.2), a late charge equal to five ten percent (510%) of any installment of Base Rent which is not received by Landlord Sublessor within ten five (105) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord Sublessor will incur by reason of late payment by TenantSublessee. In no event shall this provision for a late charge be deemed to grant to Tenant Sublessee a grace period or extension of time within which to pay any installment of Base Rent or prevent Landlord Sublessor from exercising any right or remedy available to Landlord Sublessor upon TenantSublessee's failure to pay such installment of Base Rent when due, including without limitation the right to terminate this 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. In 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 Landlord Sublessor by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the an annual rate set forth in Paragraph 35 16 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full. In addition, Sublessee shall pay all costs and attorneys' fees incurred by Sublessor in the collection of such amounts.

Appears in 1 contract

Samples: Power Integrations Inc

Late Charge. Tenant hereby acknowledges that the late payment by Tenant of any installment of rent, or any other sum of money required to Landlord of Rent be paid by Tenant under this Lease, will cause Landlord to incur certain costs and expenses not contemplated by under this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs and expenses will include, but are not limited towithout limitation, attorneys’ fees, administrative and collection costs, and processing and accounting chargesexpenses and other costs and expenses necessary and incidental thereto. If any Base Monthly Rent or Additional Rent is not received by Landlord from Tenant when such payment is due, and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordinglythen Tenant shall, Tenant shall upon demand, pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) % of any installment of Rent which is not received by Landlord within ten (10) days after the due date such delinquent rent as liquidated damages for such installment. The preceding Tenant’s failure to the contrary notwithstandingmake timely payment; provided, however, that Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, that Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses have to pay such Rent late charge if it makes its payment in full within five (5) business days following after receipt of written notice to Tenant. Except with respect to from Landlord, except that this notice and cure period shall only be applicable for the first delinquency in the two times each calendar year that Tenant fails to pay any Base Monthly Rent or any Additional Rent when due. If Landlord has provided two notices of a late payment of Rent in or default during a twelve month periodcalendar year, Landlord shall not be obligated to give Tenant provide any notice thereafter for the remainder of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that calendar year and such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late shall be due if payment by Tenant. is not made when due without any grace period or notice.. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or rent or, subject to Section 13 below, prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Rent when dueany rent due within the notice and cure periods otherwise provided under this Lease, including without limitation the any 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.Lease pursuant to Section 13.2B.

Appears in 1 contract

Samples: By and Between (American Science & Engineering Inc)

Late Charge. Tenant hereby acknowledges that At the option of Administrative Agent, Borrower will pay Lenders, on demand (i) a “late payment by Tenant charge” equal to Landlord [***]% of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of any installment on this Note when such installment is not paid within 3 Business Days following the date such installment is due and (ii) a processing fee in the amount of $0 for each check which will is provided to Administrative Agent by Borrower in payment for an obligation owing to Lenders under any Loan Document but is returned or dishonored for any reason, in order to cover the additional expenses involved in handling delinquent and returned or dishonored payments. Change - SIGNATURE RESTRICTED - Content is not to be extremely difficult distributed or shared with outside parties. . If Lenders determine that the amount of capital required or expected to ascertain. Such costs includebe maintained in respect of the Obligations by Xxxxxxx is increased as a result of a Change (except a Change regard to Indemnified Taxes, but are not limited towhich is governed solely by Section 3.3 of the Credit Agreement), 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 then Borrower shall pay to Landlord, as Additional Rent (as defined Administrative Agent the amount necessary to compensate Lenders for any shortfall in Paragraph 4.3 below), without the necessity rate of prior notice return on the portion of such increased capital that Administrative Agent determines is attributable to this Note or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant principal amount outstanding hereunder; provided that Borrower shall not be obligated required to pay a late charge on compensate Lenders for any such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect shortfall incurred during any fiscal quarter ended more than 90 days’ prior to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated date that Administrative Agent makes its request for additional amounts pursuant to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this LeaseSection 2.10(b). In the event that Administrative Agent becomes aware that any installment of Rent is not received by Landlord by amounts are or will be owed to Lenders pursuant to Section 2.10(a), then it shall promptly notify Borrower thereof and, as soon as possible thereafter, Administrative Agent shall submit to Borrower a certificate indicating the thirtieth (30th) day after amount owing to Lenders and the due date for such installment, such installment shall bear interest at the annual rate calculation therefor. The amounts set forth in Paragraph 35 belowsuch certificate shall be deemed a part of the Obligations of Borrower hereunder; provided, commencing on however, that the thirty-first (31stfailure of Borrower to pay any amount owing to Lenders pursuant to Section 2.10(a) day after shall not be deemed to constitute a Default or an Event of Default hereunder to the due date for extent that Borrower is contesting in good faith its obligation to pay such installment and continuing until such installment is paid in fullamount by ongoing discussions diligently pursued with Administrative Agent or by appropriate proceedings.

Appears in 1 contract

Samples: Credit and Security Agreement (loanDepot, Inc.)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Monthly Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant is not received by Landlord or Landlord’s designee within five (5) days after it is due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) percent of any installment of Rent such overdue amount, which is not received by Landlord within ten (10) days after late charge shall be due and payable on the due same date for such installment. The preceding to that the contrary notwithstandingoverdue amount was due; provided, Landlord agrees thathowever, that with respect to the first late payment of Rent by Tenant in any twelve (12) month period, Landlord shall provide written notice to Tenant of such late payment and the late charge shall not be obligated to pay a late charge on such delinquent Rent payable unless Tenant fails or refuses shall fail to pay cure such Rent late payment within five (5) business days following after receipt of Landlord’s written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentnotice. The parties hereby Parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, excluding attorneys’ fees and costs to the extent Landlord is permitted to recover such fees and costs in accordance with Sections 5.C or 20.A. If any Base Monthly Rent or other sum due from Tenant remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate (defined in Section 14.B) from the date such amount became due until paid. Acceptance by Landlord of such late charge or interest shall not 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. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent, property management fees and Tenant’s Allocable Share of Reimbursable Operating Costs (defined in Section 9.D) shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate amount due under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 1 contract

Samples: Lease (Cutera Inc)

Late Charge. Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rent will ----------- cause Landlord to incur costs not contemplated by this Leasedamages, including administrative costs, loss of use of the overdue finds and other costs, the exact amount of which will would be impractical and extremely difficult to ascertainfix. Such costs include, but are Landlord and Tenant agree that if Landlord does not limited to, processing and accounting charges, and late charges which may be imposed receive a payment of Rent on Landlord by or before the terms of any mortgage or deed of trust covering the Premises. Accordinglydate that such payment is due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late hate charge equal to five percent (5%) of any installment of Rent which the overdue amount and the overdue amount shall bear interest at the Interest Rate (as such term is not received by Landlord within ten (10) days after defined below), from the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a such amount was due until Landlord receives the overdue payment. Acceptance of the late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, by Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by cure or waive Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or 's default, nor prevent Landlord from exercising exercising, before or after such acceptance, any right of the rights and remedies for a default provided by this Lease or remedy available at law. Payment of the late charge is not an alternative means of performance of Tenant's obligation to Landlord upon pay Rent at the times specified in this Lease. Tenant will be liable for the late charge regardless of whether Tenant's failure to pay such installment of the Rent when duedue constitutes a default under the Lease and regardless of whether Landlord sent Tenant an invoice for such Rent and/or late charge. The term "Interest Rate" shall mean the lower of (a) the maximum interest rate permitted by law or (b) two percent (2%) above the rate publicly announced from time to time by Bank of America N.T. & S.A. (or if Bank of America N.T. & S.A. ceases to exist, including without limitation then the right largest bank headquartered in the State of California) ("Bank") as its Reference Rate. If the use of the announced Reference Rate is discontinued by the Bank, then the reference to terminate Reference Rate shall mean the announced rate charged by the Bank which is from time to time substituted for such Reference Rate. Whenever interest is required to be paid under this Lease. In , the event interest shall be calculated from the date the payment was due or should have been due if correctly assessed or estimated (or any installment of Rent overcharge paid), until the date payment is not received by Landlord by made or the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment refund is paid in fullor is credited against rent next due.

Appears in 1 contract

Samples: Lease Agreement (Shopping Com)

Late Charge. Notwithstanding any other provision of this Lease, Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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. Such costs include, but If any Rent or other sums due from Tenant are not limited to, processing and accounting chargesreceived by Landlord or by Landlord's designated agent when due, and late charges which may be imposed on Landlord by if Tenant does not cure such failure within five (5) days after the terms of any mortgage or deed of trust covering due date (the Premises. Accordingly"GRACE PERIOD"), then Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) of such overdue amount (the "LATE CHARGE"), plus any installment costs and reasonable attorneys' fees incurred by Landlord by reason of Tenant's failure to pay Rent which is and/or other charges when due hereunder; provided, however, that Tenant shall have the right to pay Rent during the Grace Period only five (5) times during the Term and, after Tenant has paid Rent during the Grace Period an aggregate of five (5) times, Tenant shall pay to Landlord a Late Charge on any Rent or other sums due hereunder that are not received by Landlord within ten (10) days after or Landlord's designated agent when due. Notwithstanding the foregoing, if Tenant establishes and maintains throughout the Term a direct payment or debit arrangement with a bank or financial institution pursuant to which the Rent due date for such installment. The preceding hereunder is automatically paid to the contrary notwithstanding, Landlord agrees that, with respect to by electronic transfer on the first day of each month, and if Tenant provides Landlord with evidence of such arrangement, then Landlord shall provide Tenant with notice of any late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect prior to the first delinquency in the payment imposition of Rent in a twelve month period, Late Charge. Landlord shall not be obligated to give and Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents Late Charge represent a fair and reasonable estimate of the costs cost that Landlord will incur by reason of Tenant's late payment by and shall not be construed as a penalty. Landlord's acceptance of such Late Charge shall not constitute a waiver of Tenant. In no event shall this provision for a late charge be deemed 's default with respect to grant to Tenant a grace period such overdue amount or extension of time within which to pay any installment of Rent or prevent estop Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate other rights and remedies granted under 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full.

Appears in 1 contract

Samples: Lease Agreement (Advanced Medicine Inc)

Late Charge. Tenant hereby acknowledges that late payment by Tenant If Subtenant fails to Landlord pay in full when due any installment of Rent will cause Landlord Base Rent, or any other amount owed and such failure continues for five (5) business days after notice thereof, then, in addition to incur costs not contemplated by this Leasethe amount due, 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 Subtenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Sublandlord a late charge equal to of five percent (5%) of the sum due; provided, however, Subtenant shall only be entitled to two (2) notices of late payment within any twelve (12) month period, and any sum due to Sublandlord that is not paid when due after such second notice within a twelve (12) month period shall be subject to such five percent (5%) late charge without any notice or demand by Sublandlord. If Subtenant shall fail to pay any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Base Rent within five (5) business days following receipt of after Sublandlord’s written notice that the same is overdue, Subtenant will also pay to Tenant. Except with respect Sublandlord, in addition to such installment of Base Rent, interest on the overdue amount at a per annum rate equal to the first delinquency in the payment Prime Lending Rate plus three (3%) percent. Such interest and late charge shall be due on demand. Such interest and late charge are intended to reasonably compensate Sublandlord for additional expenses by reason of Rent in Subtenant’s default and are not intended to be a twelve month period, Landlord penalty. Payment of such late charge and interest shall not be obligated deemed a cure of the applicable default. “Prime Lending Rate” shall mean the “Prime Rate” reported by The Wall Street Journal (Eastern Edition) from time to give Tenant notice of delinquent Rent prior time; provided, however, that if at any time more than one Prime Rate is reported by The Wall Street Journal, the Prime Lending Rate shall mean the rate which Citigroup (or its successor) announces from time to imposing a late charge on such delinquent Renttime as its prime lending rate, in effect from time to time. The parties hereby agree that such late charge represents a fair and reasonable estimate Prime Lending Rate shall change as of the costs Landlord will incur by reason date of late payment by Tenanteach change in the Prime Rate. In If The Wall Street Journal no event longer publishes a “Prime Rate”, the Prime Lending Rate shall this provision for a late charge be deemed mean the rate which Citigroup (or its successor) announces from time to grant time as its prime lending rate, in effect from time to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fulltime.

Appears in 1 contract

Samples: Accuride Corp

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Base Rent or other amount payable by Tenant under this Lease which is not received by Landlord within ten (10) days after on or before the due date for such installmentinstallment or payment. The preceding to Notwithstanding the contrary notwithstandingforegoing, Landlord agrees that, with respect to will not assess a late charge until Landlord has given written notice of such late payment for the first late payment of Rent by Tenant in any twelve (12) month period, period and after Tenant shall has not cured such late payment within three (3) business days from receipt of such notice. No other notices will be obligated to pay required during the following twelve (12) months for a late charge on such delinquent Rent unless Tenant fails to be imposed or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentincurred. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Base Rent or other sum payable by Tenant to Landlord under this Lease or, subject to the notice and cure period set forth in Paragraph 14.1(a), prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Base Rent or other sum when due, including without limitation the right to terminate this Lease. In the event any installment of Base Rent or other sum payable by Tenant to Landlord under this Lease is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 34 below, commencing on the thirty-first (31st) day after the date such Base Rent installment or other sum payable under this Lease is due date for such installment and continuing until such installment or other sum payable under this Lease is paid in full.

Appears in 1 contract

Samples: Lease Agreement (Rambus Inc)

Late Charge. Tenant Sublessee hereby acknowledges that late payment by Tenant Sublessee to Landlord Sublessor of Rent will cause Landlord Sublessor to incur costs not contemplated by this LeaseSublease, 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 upon Sublessor by the terms of any mortgage or deed of trust covering the PremisesMaster Lease. Accordingly, Tenant Sublessee shall pay to LandlordSublessor's Agent, as Additional Rent (as defined in Paragraph 4.3 below)Charges, without the necessity of prior notice or demand, a late charge equal to five two percent (52%) of any installment of Rent which is not received by Landlord Sublessor's Agent within ten fifteen (1015) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord Sublessor will incur by reason of late payment by TenantSublessee. In no event shall this provision for a late charge be deemed to grant to Tenant Sublessee a grace period or extension of time within which to pay any installment of Rent or prevent Landlord Sublessor from exercising any right or remedy available to Landlord Sublessor upon TenantSublessee's failure to pay such installment of Rent when due, including without limitation the right to terminate this Leasethe Sublease. In the event any installment of Rent is not received by Landlord Sublessor's Agent by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the an annual rate set forth in Paragraph 35 10 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in full. In addition, Sublessee shall pay all reasonable costs and attorneys' fees incurred by Sublessor in the collection of such amounts.

Appears in 1 contract

Samples: Lease Agreement (Mission West Properties/New/)

Late Charge. Tenant hereby acknowledges Section 4.07 The parties acknowledge that late payment by Tenant Sub lessee to Landlord Sublessor of Rent the rent due hereunder will cause Landlord Sublessor to incur costs not contemplated by this LeaseSublease, the exact amount of which will be such costs being extremely difficult and impracticable to ascertainfix. Such costs may include, but are not limited to, processing and accounting charges, charges and late charges which that may be imposed on Landlord upon Sublessor by the terms of any mortgage or deed of trust encumbrance and note secured by any encumbrance covering the PremisesHangar. AccordinglyTherefore, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of if any installment of Rent which monthly rent due hereunder is not received from Sub lessee by Landlord Sublessor within ten Five (105) days after the date upon which it became due, Sub lessee shall pay to Sublessor an additional charge in an amount equal to ten percent (10%) of the rent then due, which sum shall be immediately due date for such installmentand payable without demand. The preceding to the contrary notwithstandingAdditionally, Landlord agrees that, with respect to the first late if any monthly payment of Rent rent is paid by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency Lessee in the payment form of Rent in a twelve month periodpersonal check, Landlord bank check, or otherwise, and such check is returned for insufficient funds or any reason whatsoever, Sub lessee shall not immediately pay to Sublessor the monthly rent and any applicable late charges then due, together with the additional sum of seventy-five dollars ($75.00), and such payment, to include all monthly and any other payments called for by the herein Sublease, shall thereafter be obligated paid by Sub lessee to give Tenant notice Sublessor by way of delinquent Rent prior to imposing a late charge on such delinquent Rentcashier's check and/or money order. The parties hereby hereto agree that such the late charge charges above stated represents a fair and reasonable estimate of the costs Landlord that Sublessor will incur by reason of late such untimely payment by TenantSub lessee. In no event Acceptance of any such charge shall not constitute a waiver of Sub lessee's default with respect to the monthly rent then due, nor will such acceptance prevent Sublessor from exercising any of the rights and remedies available to Sublessor. Further, the existence of the herein provisions in this provision for a late charge be deemed to grant to Tenant a grace period or extension of Sublease shall not extend the time within which Sub lessee is required to make monthly payments of rent hereunder, and the time to pay any installment monthly rent hereunder when due shall be a default under the terms of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when duethis Sublease, including effective the date that the monthly payment originally became due and 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullextension.

Appears in 1 contract

Samples: Pangea Petroleum Corp

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Rent and Additional Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Rent or Additional Rent or other sum due from Tenant shall not be received by Landlord or its designee when due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demandRent, a late charge equal to five two percent (52%) of any installment of Rent such overdue amount in addition to such overdue amount, which is not received by Landlord within ten (10) days after late charge shall be due on the due same date for such installmentthat the overdue amount was due. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby Parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision If any amount due from Tenant to Landlord remains delinquent for a period in excess of five (5) days, then in addition to such late charge, Tenant shall pay to Landlord interest on such amount not paid when due at the Agreed Interest Rate specified in Paragraph 45 from the date such amount became due until paid. Acceptance by Landlord of such late charge be deemed to grant to Tenant shall not constitute a grace period or extension waiver of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate this LeaseLandlord’s rights and remedies granted hereunder. In the event that a late charge is due hereunder, whether or not collected, for three (3) installments of Base Rent in any installment twelve (12) month period, then the Base Rent and Additional Rent shall automatically become due and payable quarterly in advance, rather than monthly, payable by bank wire/ACH payment or cashier’s check, notwithstanding any provision of Rent is not received by Landlord by this Lease to the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullcontrary.

Appears in 1 contract

Samples: Office Lease Agreement (Hercules Technology Growth Capital Inc)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord Notwithstanding any other provision of Rent will cause Landlord to incur costs not contemplated by this Lease, if Tenant is in default in the exact amount payment of which will be extremely difficult rental as set forth in this Paragraph 4 when due, or any part thereof, Tenant agrees to ascertainpay Landlord, in addition to the delinquent rental due, a late charge for each rental payment in default ten (10) days. Such costs include, but are not limited to, processing and accounting charges, and Said late charges which may be imposed on Landlord by charge shall equal ten (10%) percent of each rental payment so in default. Additional Rent. Beginning with the terms commencement date of any mortgage or deed the term of trust covering the Premises. Accordinglythis Lease, Tenant shall pay to Landlord, Landlord in addition to the Basic Rent and as Additional Rent (the following: Tenant's proportionate share of all Taxes relating to the Complex as defined set forth in Paragraph 4.3 below), without the necessity 12 and Tenant's proportionate share of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding all insurance premiums and deductibles relating to the contrary notwithstandingComplex, Landlord agrees thatas set forth in Paragraph 15, with respect to and Tenant's proportionate share of expenses for the first late payment operation, management, maintenance and repair of Rent by the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and All charges, costs and expenses, which Tenant in any twelve month period, Tenant shall not be obligated is required to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except hereunder, together with respect to the first delinquency all interest and penalties, costs and expenses including attorneys' fees and legal expenses, that may accrue thereto in the payment event of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of Rent when due, including without limitation default of Tenant or failure on Tenant's part to comply with the right to terminate terms of this Lease. In the event of nonpayment by Tenant of Additional Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent Items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant's prorata share of an amount estimated by Landlord to be Landlord's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion as compared to Landlord's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any installment amount of Rent actual expenses expended by Landlord in excess of said estimated amount, or Landlord crediting to Tenant (providing Tenant is not received in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord's actual expenditures for said Additional Rent items. The respective obligations of Landlord by and Tenant under this paragraph shall survive the thirtieth (30th) expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day after other than the due date last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such installment, calendar year and shall be prorated in the proportion which the number of days in such installment shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for calendar year preceding such installment and continuing until such installment is paid in fullexpiration or termination bears to 365.

Appears in 1 contract

Samples: Lease Agreement (Com21 Inc)

Late Charge. Tenant hereby acknowledges that the late payment by Tenant to Landlord of Rent any monthly installment of Minimum Monthly Rental, additional rent or any other charge required under this Lease will cause Landlord to incur certain costs and expenses not contemplated by under this Lease, the exact amount of which will be costs being extremely difficult or impractical to ascertainfix. Such costs and expenses will include, but are not limited towithout limitation, administrative and collection costs and processing and accounting chargesexpenses. Therefore, and late charges which may be imposed on if any such sum is not received by Landlord by Seven (7) days from the terms date such sum becomes due ( the first day of any mortgage or deed of trust covering the Premises. Accordinglyeach month), Tenant shall immediately pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five ten percent (510%) of any installment of Rent which the sum that is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstandingdue, Landlord agrees that, with respect to the first late payment of Rent by and Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such this late charge represents a fair and reasonable estimate of the such costs and expenses and is fair compensation to Landlord will incur for its loss suffered by reason of late payment such nonpayment by Tenant. In no event shall Acceptance of this provision for a late charge be deemed shall not constitute a waiver of Tenant's default with respect to grant to such nonpayment by Tenant a grace period or extension of time within which to pay any installment of Rent or nor prevent Landlord from exercising any right or remedy all other rights and remedies available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate under this Lease. In the event any installment Dishonored Checks – A charge of Rent is not received by Landlord Fifty ($ 50.00) Dollars shall be imposed for each dishonored check made by the thirtieth Tenant to the Landlord. Tenant agrees to pay all rents, late fees, all notice fees and all costs to honor a returned check with certified funds (30thMoney Order or Cashier’s Check). After the Tenant has tendered a check which is dishonored, Tenant hereby agrees to pay all remaining payments including rent due under this Agreement by Certified funds. Any payments tendered to Landlord thereafter, which are not in the form of certified funds, shall be treated as if Tenant failed to make said payment until certified funds are received. Landlord presumes that the Tenant is aware of the criminal sanctions and penalties for issuance of a check which the Tenant knows is drawn upon insufficient funds and which is tendered for the purpose of committing a fraud upon a creditor. All late fees and dishonored check charges shall be due when incurred and after thirty (30) day after the due date for such installment, such installment days shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullbecome additional rent.

Appears in 1 contract

Samples: Lease (Meganet Corp)

Late Charge. Tenant hereby Lessee acknowledges that the late payment by Tenant to Landlord of Rent will cause Landlord Lessor to incur costs not contemplated by this Leasedamages, including administrative costs, loss of use of the overdue funds and other costs, the exact amount of which will would be impractical and extremely difficult to ascertain. Such costs include, but are Lessor and Lessee agree that if Lessor does 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, receive a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice after the date that such payment is due, Lessee shall pay to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing Lessor a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate (“Late Charge”) equal to ten percent (10%) of the costs Landlord will delinquent amount, or the sum of twenty-five dollars ($25.00), whichever is greater, as liquidated damages for the damages which Lessor is likely to incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of 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 thirty (30th30) day after period following the due date for of such installmentpayment. Further, such installment all portions of Rent not paid within thirty (30) days following its due date and all Late Charges associated therewith shall bear interest at the annual rate set forth in Paragraph 35 Interest Rate (as defined below, commencing ) beginning on the thirty-first (31st) day after following the due date for of such installment Rent and continuing until such installment is Rent, Late Charges and interest are paid in full. Acceptance of the Late Charge, and/or interest by Lessor shall not cure or waive Lessee's default, nor prevent Lessor from exercising, before or after such acceptance, any and all of the rights and remedies for a default provided by this Lease or at law or in equity. Payment of the Late Charge and/or interest is not an alternative means of performance of Lessee's obligation to pay Rent at the times specified in this Lease. Lessee will be liable for the Late Charge regardless of whether Lessee's failure to pay the Rent when due constitutes a default under this Lease. Lessee shall pay Lessor a fee of $30.00 for each check that Lessor shall receive from Lessee that is not honored by the bank upon which it is drawn. Furthermore, if any check given to Lessor by Lessee shall not be honored by the bank upon which it is drawn, Lessor, at its option, may require all payments made by Lessee to Lessor over the next twelve (12) months to be by certified check, cashier’s check, money order, or wire transfer. The term "Interest Rate" shall mean the lower of (a) the maximum interest rate permitted by law, or (b) ten percent (10%) per annum. Whenever interest is required to be paid under this Lease, the interest shall be calculated from the date the payment was due (unless a late charge is assessed by Lessor, in which case the interest shall be calculated from the thirty-first (31st) day following the date the payment was due) or should have been due if correctly assessed or estimated (or any overcharge paid), until the date payment is made or the refund is paid or is credited against Rent next due. However, there shall not be any credit against Rent unless expressly allowed by the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (A-Mark Precious Metals, Inc.)

Late Charge. If Tenant hereby acknowledges that late fails to make any payment by of rent, expenses ----------- or other amounts required of Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by under 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord Lease within ten (10) days after of the date such amount is due date for such installment. The preceding as set forth in this Lease, then, in addition to the contrary notwithstanding, any other amounts recoverable by Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month periodhereunder, Tenant shall not be obligated pay Landlord a late charge in an amount equal to $0.06 for each dollar past due. If Tenant fails, on three (3) separate occasions, to make any payment of rent, expenses or other amounts required of Tenant under this Lease within three (3) days of the date each such payment is due, then for the remainder of the Lease Term, Tenant shall pay a late charge on such delinquent Rent unless in an amount equal to $0.06 for each dollar past due if Tenant thereafter fails or refuses to pay any payment of rent or other amount required under this Lease promptly when due. Such late charge shall be due notwithstanding the fact that no notice is given by Landlord to Tenant of such Rent within five failure to pay. Notwithstanding the foregoing, if on three (53) business days following receipt separate occasions Tenant has received notice from Landlord that it has failed to pay rent, expenses or other amounts promptly when due, Tenant shall pay Monthly Rental for the balance of written notice to Tenant. Except with respect to the term of this Lease on a quarterly basis, in advance, on the first delinquency in day of each such quarter. Landlord and Tenant agree that it would be extremely difficult and impractical to fix the payment of Rent in a twelve month period, actual damages sustained by Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a for such default and that the late charge on such delinquent Rent. The parties hereby agree that such late charge represents or quarterly rental payment set forth in this Section is a fair and reasonable estimate of such damages at this time. Landlord anticipates that such damage would include the administrative costs Landlord will incur by reason and expenses, the cost of late payment by Tenantarranging for borrowed funds and attorneys' fees. In no event shall this provision for a The late charge provided in this Section shall be deemed the sole damages which Landlord may recover from Tenant for the delay by Tenant in making any payment within ten (10) days from the date such payment is due until thirty (30) days after the date such payment is due, but this Section shall not limit Landlord's right to grant recover any other amount due pursuant to this Lease, Landlord's damages equivalent to the amount of the rent or other payments if this Lease is terminated, Landlord's damages or costs for Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay for a period beyond thirty (30) days from the date such installment of Rent when payment is due, including without limitation the Landlord's cost and expense in connection with any litigation and Landlord's right to terminate any other remedy such as terminating this Lease. In , recovering possession of 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 at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullPremises or injunctive relief.

Appears in 1 contract

Samples: Parking Agreement (Physicians Quality Care Inc)

Late Charge. If Tenant hereby fails to pay when due rental or other ----------- amounts due Landlord hereunder, such unpaid amounts shall bear interest for the benefit of Landlord at a rate equal to the lesser of eight percent (8%) per annum or the maximum rate permitted by law, from the date due to the date of payment. In addition to such interest, Tenant shall pay to Landlord a late charge in an amount equal to five percent (5%) of any installment of minimum rental and any other amounts due Landlord if not paid in full on or before the fifth (5th) day following notice from Landlord that such rental or other amount is due; provided however, that if any payment of rent or other amounts by -------- Tenant is more than five (5) days late and Landlord gave written notice of delinquency to Tenant prior to such payment, then for the next twelve (12) calendar months after such written notice was given, Tenant shall be liable for late charges on any further payment of rental or other amounts that is not paid on or before the fifth (5th) day after such rental or other amount is due, without any requirement of prior notice from Landlord to Tenant that such rental ------- or other amount is due. Tenant acknowledges that late payment by Tenant to Landlord of Rent rental 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. Such costs includeincluding, but are not limited towithout limitation, processing and accounting charges, charges and late charges which may be imposed on Landlord by the terms of any mortgage or deed loan relating to the Property. Tenant further acknowledges that is extremely difficult and impractical to fix the exact amount of trust covering such costs and that the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant set forth in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge this Section 3.2 represents a fair and reasonable estimate thereof. Acceptance of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a any late charge be deemed by Landlord shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period overdue rental or extension of time within which to pay any installment of Rent or other amounts, nor shall such acceptance prevent Landlord from exercising any right or remedy other rights and remedies available to Landlord upon Tenant's failure to pay such installment it. Acceptance of Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent is not received 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 prior installments thereof, nor of any other defaults by the thirtieth (30th) day after the due date for such installmentTenant, such installment shall bear interest whether monetary or nonmonetary in nature, remaining uncured at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for time of such installment and continuing until such installment is paid in fullacceptance of rent or other payments.

Appears in 1 contract

Samples: Documentum Inc

Late Charge. If Tenant hereby fails to pay when due rental or other amounts due Landlord hereunder, such unpaid amounts shall bear interest for the benefit of Landlord at a rate equal to the lesser of fifteen percent (15%) per annum or the maximum rate permitted by law, from the date due to the date of payment. In addition to such interest, Tenant shall pay to Landlord a late charge in an amount equal to five percent (5%) of any installment of minimum rental and any other amounts due Landlord if not paid in full on or before the fifth (5th) day after written notice from Landlord that such rental or other amount is overdue; provided, however, that if any payment of rent or other amounts by Tenant is more than five (5) days late and Landlord gave written notice of delinquency to Tenant prior to such payment actually being made, then for the next twelve (12) calendar months after such written notice was given, Tenant shall be liable for late charges on any further payment of rental or other amounts that is not paid on or before the fifth (5th) day after such rental or other amount is due, without any requirement of prior notice from Landlord to Tenant that such rental or other amount is due. Tenant acknowledges that late payment by Tenant to Landlord of Rent rental 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. Such costs includeincluding, but are not limited towithout limitation, processing and accounting charges, charges and late charges which may be imposed on Landlord by the terms of any mortgage or deed loan relating to the Property. Tenant further acknowledges that it is extremely difficult and impractical to fix the exact amount of trust covering such costs and that the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Rent which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant set forth in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge this Section 3.2 represents a fair and reasonable estimate thereof. Acceptance of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a any late charge be deemed by Landlord shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period overdue rental or extension of time within which to pay any installment of Rent or other amounts, nor shall such acceptance prevent Landlord from exercising any right or remedy other rights and remedies available to Landlord upon Tenant's failure to pay such installment it. Acceptance of Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent is not received 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 prior installments thereof, nor of any other defaults by the thirtieth (30th) day after the due date for such installmentTenant, such installment shall bear interest whether monetary or non-monetary in nature, remaining uncured at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for time of such installment and continuing until such installment is paid in fullacceptance of rent or other payments.

Appears in 1 contract

Samples: Lease (Ribogene Inc / Ca/)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent or any other sums required to be paid by Tenant to Landlord under this Lease 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five four percent (54%) of any installment of Rent or other sum required to be paid by Tenant to Landlord under this Lease which is not received by Landlord within ten five (105) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rent. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or Additional Rent (defined in Paragraph 4.3 below) or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Rent or Additional Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent or any other sum required to be paid by Tenant to Landlord under this Lease is not received by Landlord by the thirtieth (30th) day after the due date for such installmentinstallment or sum, such installment or sum shall bear interest at the annual rate set forth in Paragraph 35 below, commencing on the thirty-first (31st) day after the due date for such installment or sum and continuing until such installment or sum is paid in full.

Appears in 1 contract

Samples: Net Lease Agreement (Mellanox Technologies, Ltd.)

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base Monthly Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed of trust covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant is not received by Landlord or Landlord’s designee within five (5) days after it is due, Tenant shall pay to Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, Landlord a late charge equal to five percent (5%) percent of any installment of Rent such overdue amount, which is not received by Landlord within ten (10) days after the due date for such installment. The preceding to the contrary notwithstanding, Landlord agrees that, with respect to the first late payment of Rent by Tenant in any twelve month period, Tenant shall not be obligated to pay a late charge shall be due and payable on such delinquent Rent unless Tenant fails or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in same date that the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentoverdue amount was due. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, excluding interest and attorneys fees and costs. If any Base Monthly Rent or other sum due from Tenant remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate (defined in -10- Section 14.B) from the date such amount became due until paid. Acceptance by Landlord of such late charge or interest shall not 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. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent, property management fees and Reimbursable Operating Costs shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary, until Tenant has thereafter timely paid, on before the due date, Base Monthly Rent, Reimbursable Operating Costs and property management fees for a twelve (12) consecutive full calendar month period, at which time Base Monthly Rent, Reimbursable Operating Costs and property management fees shall revert back to being payable monthly (subject however to reverting to quarterly payment if thereafter a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent). In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such installment of Rent when due, including without limitation the right to terminate amount due under this Lease. In Notwithstanding the event any installment of Rent is not received by Landlord by the thirtieth foregoing, Tenant shall be entitled to one (30th1) written notice and five (5) day after cure period each calendar year before the due date first late charge for such installment, such installment calendar year shall bear interest at accrue. No notice or additional cure period shall be required or apply for the annual rate set forth in Paragraph 35 below, commencing on second or any subsequent late charge during the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid in fullcalendar year.

Appears in 1 contract

Samples: ServiceNow, Inc.

Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of Base 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 (as defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to five percent (5%) of any installment of Base Rent or other amount payable by Tenant under this Lease which is not received by Landlord within ten five (105) days after the due date for such installmentinstallment or payment. The preceding to Notwithstanding the contrary notwithstandingforegoing, Landlord agrees that, with respect to will not assess a late charge until Landlord has given written notice of such late payment for the first late payment of Rent by Tenant in any twelve (12) month period, period and after Tenant shall has not cured such late payment within three (3) business days from receipt of such notice. No other notices will be obligated to pay required during the following twelve (12) months for a late charge on such delinquent Rent unless Tenant fails to be imposed or refuses to pay such Rent within five (5) business days following receipt of written notice to Tenant. Except with respect to the first delinquency in the payment of Rent in a twelve month period, Landlord shall not be obligated to give Tenant notice of delinquent Rent prior to imposing a late charge on such delinquent Rentincurred. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any installment of Base Rent or other sum payable by Tenant to Landlord under this Lease or, subject to the notice and cure period set forth in Paragraph 14.1(a), prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's ’s failure to pay such installment of Base Rent or other sum when due, including without limitation the right to terminate this Lease. In the event any installment of Base Rent or other sum payable by Tenant to Landlord under this Lease is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 35 34 below, commencing on the thirty-first (31st) day after the date such Base Rent installment or other sum payable under this Lease is due date for such installment and continuing until such installment or other sum payable under this Lease is paid in full.

Appears in 1 contract

Samples: Improvement Agreement (Bloom Energy Corp)

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