Common use of Late Charge Clause in Contracts

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).

Appears in 3 contracts

Sources: Sub Sublease Agreement, Sublease Agreement (Responsys Inc), Sub Sublease Agreement (Responsys Inc)

Late Charge. If Sub-Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sub-Sublandlord that the same is due, or (ii) fails to pay any other amount for which Sub-Subtenant is obligated under this Sub-Sublease within ten (10) days after receipt of Sub-Sublandlord’s invoice, then, Sub-Subtenant shall pay to Sub-Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Sub-Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Sub-Subtenant acknowledges that late payments will cause Sub-Sublandlord to incur costs not contemplated by this Sub-Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sub-Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sub-Sublandlord to any late payment, nor a waiver of Sub-Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sub-Sublandlord is entitled hereunder. In addition, all amounts payable by Sub-Subtenant to Sub-Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).

Appears in 2 contracts

Sources: Sub Sublease Agreement, Sub Sublease Agreement (Responsys Inc)

Late Charge. If Subtenant In the event (ia) fails to pay any installment of Base Rental, Subtenant’s Share principal or interest due hereunder or (b) any payment into any Reserve or other escrow fund due and owing under this Agreement or under any of the Operating Expenses Adjustmentother Loan Documents, in either case, is not paid in full on or any other recurring charges before the fourth (collectively, “Recurring Charges”), within five (54th) days after receipt of written notice from Sublandlord that calendar day immediately following the same is calendar day on which such payment first becomes due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then the Borrower shall pay to Sublandlord an additional the Administrative Agent a late charge (hereinafter referred to as the “Late Charge”) equal to five four percent (54.0%) of the total amount payable; providedoverdue or, howeverif less, that if Subtenant fails twice the maximum amount permitted under applicable Law in any calendar year the State, in order to pay any Recurring defray part of the cost of collection and of handling delinquent payments. The foregoing Late Charge on is intended to compensate the date the same is due, no such prior written notice shall be necessary Administrative Agent and the late charge shall automatically Lenders for the costs and without notice apply expenses incident to each successive Recurring Charge not paid on handling any such delinquent payment and for the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs losses incurred by Sublandlord the Administrative Agent and/or the Lenders as a result of such late delinquent payment. Such The Borrower hereby covenants and agrees that, considering all of the circumstances existing on the Closing Date, the Late Charge represents a reasonable estimate of the costs and losses the Administrative Agent and the Lenders will incur by reason of a late charge payment hereunder. The Borrower and the Administrative Agent hereby further acknowledge and agree that proof of actual losses would be costly, inconvenient, impracticable, and extremely difficult to fix. Acceptance of the Late Charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor constitute a waiver of any Event of Default arising as a result of any such payment being overdue, and shall not prevent the Administrative Agent from exercising any other rights or remedies available to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive the Administrative Agent hereunder or under any of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)other Loan Documents.

Appears in 2 contracts

Sources: Loan Agreement (Stratus Properties Inc), Loan Agreement (Stratus Properties Inc)

Late Charge. If Subtenant (i) fails Lessee hereby acknowledges that late payment by Lessee to pay Lessor of rent and other sums due hereunder shall cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Lessor by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice sum due from Sublandlord that the same is due, Lessee shall not be received by Lessor or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease Lessor’s designee within ten (10) days after receipt of Sublandlord’s invoicesaid amount is past due, then, Subtenant then Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate$750.00. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Lessor will incur by Sublandlord as a result reason of late payment by Lessee. Acceptance of such late payment. Such late charge and any interest thereon by Lessor shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordLessee’s right default with respect to insist upon timely payments at any time, nor such overdue amount unless Lessee is otherwise advised by Lessor. Such acceptance unless it constitutes a waiver shall not prevent Lessor from exercising any of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In additionAdditionally, all amounts payable by Subtenant to Sublandlord hereunder, exclusive any payment of money due hereunder which is not paid within thirty (30) days of the late charge described above, if not paid when due, due date shall bear interest from the due date until paid at the Interest Rate rate of 18% per annum (as defined in the Master Leaseor highest lawful rate, if less).

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Late Charge. If Subtenant (i) Tenant fails to pay any installment of Base RentalBasic Rent, Subtenant’s Share of the Operating Expenses Adjustment, additional rent or other changes or otherwise fails to make any other recurring charges (collectively, “Recurring Charges”), payment for which Tenant is obligated under this Lease within five (5) days after Tenant’s receipt of written notice from Sublandlord that the Tenant failed to pay same is when due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount so payable; provided, however, that if Subtenant Tenant fails twice in any calendar year to pay any Recurring Charge on the date the same is dueinstallment of Basic Rent or additional rent when due more than three (3) times in any twelve (12) month period, Landlord shall no such prior written longer be required to give Tenant notice shall be necessary and before imposing the late charge and Tenant shall automatically and without notice apply pay to each successive Recurring Charge Landlord a late charge equal to five percent (5%) of the amount due for any amount not paid on within five (5) days after the date due during such calendar yeardue. Subtenant Tenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Landlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord Landlord to any late payment, nor a waiver of SublandlordLandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord Landlord is entitled hereunder. In addition, all amounts payable by Subtenant Tenant to Sublandlord Landlord hereunder, exclusive of the late charge change described above, if not paid when within five (5) days after such amounts are due, shall bear interest from the due date until paid at the lesser of (i) the rate of ten percent (10%) per annum or (ii) the maximum rate of interest permitted to be collected by the Landlord by law (“Interest Rate (as defined in the Master LeaseRate”).

Appears in 2 contracts

Sources: Lease Agreement (Redwood Trust Inc), Lease Agreement (Redwood Trust Inc)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Lessee hereby acknowledges that late payments payment by Lessee to Lessor of rent or other sums due hereunder will cause Sublandlord Lessor to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are will be extremely difficult to ascertain. Such costs include but are not limited to, processing and impracticable accounting charges, and late charges which may be imposed on Lessor by the terms of any mortgage or any trust deed covering the Premises. Accordingly, if any installment of rent or any other sum due from Lessee shall not be received by Lessor or Lessor's designee within nine (9) days after such amount shall be due, then, without any requirement for notice to calculateLessee, Lessee shall pay to Lessor a late charge equal to ten percent (10%) of such overdue amount. The parties hereby agree that the such late charge described above represents a fair [page break in original] and reasonable estimate of the extra costs incurred Lessor will incur by Sublandlord as a result reason of late payment by Lessee. Acceptance of such late payment. Such late charge by Lessor shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of Sublandlord’s right Lessee's default with respect to insist upon timely payments at such overdue amount nor prevent Lessor from exercising any time, nor a waiver of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In addition, all amounts the event that a late charge is payable by Subtenant to Sublandlord hereunder, exclusive whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Paragraph 5 or any other provision of this Lease to the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)contrary.

Appears in 2 contracts

Sources: Office Lease Agreement (Advanced Media Inc), Assignment of Lease Agreement (Progressive Training, Inc.)

Late Charge. If Subtenant Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or deed of trust covering the Premises. Accordingly, Tenant shall pay to Landlord, as Additional Rent (ias defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to ten percent (10%) fails to pay of any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same Rent which is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease not received by Landlord within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the due date the same is due, no for such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateinstallment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as reason of late payment by Tenant. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Tenant a consent by Sublandlord grace period or extension of time within which to pay any late payment, nor a waiver installment of Sublandlord’s Rent or prevent Landlord from exercising any right or remedy available to insist Landlord upon timely payments at any time, nor a waiver Tenant's failure to pay such installment of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid Rent when due, including without limitation the right to terminate this Lease. In the event any installment of Rent is not received by Landlord by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest from at the annual rate set forth in Paragraph 34 below, commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is paid at the Interest Rate (as defined in the Master Lease)full.

Appears in 2 contracts

Sources: Net Lease Agreement (Laserscope), Net Lease Agreement (Laserscope)

Late Charge. If Subtenant (iMONTHLY PAYMENTS UNDER THIS NOTE ARE DUE ON THE FIRST DAY OF EACH AND EVERY MONTH UNTIL THIS NOTE IS PAID IN FULL. BORROWER HEREBY AGREES THAT SUCH PAYMENTS SHALL BE MADE TO THE LENDER ON THE SERVICING PAYMENT DATE. THERE IS NO “GRACE” PERIOD FOR ANY MONTHLY INSTALLMENTS DUE HEREUNDER. Subject to the provisions of Section 9.01(b) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses AdjustmentMaster Agreement, if any monthly installment due hereunder is not received by Lender on or before the first day of each month or if any other amount payable under this Note or under the Security Instrument or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that Loan Document is not received by Lender before or on the same date such amount is due, or (ii) fails to pay any other counting from and including the date such amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoicedue, then, Subtenant Borrower shall pay to Sublandlord an additional Lender, immediately and without demand by Lender, a late charge equal to five percent (5%) of such monthly installment or other amount due (provided that in connection with the total amount payable; provided, however, that if Subtenant fails twice payment in any calendar year to pay any Recurring Charge full on the date Maturity Date, if such payment is not received by Lender on or before the same is duefifth (5th) day after the Maturity Date, no such prior written notice counting from and including the Maturity Date, Borrower shall be necessary pay to Lender, immediately and the without demand by Lender, a late charge shall automatically and without notice apply equal to each successive Recurring Charge not paid on the date due during one percent (1%) of such calendar yearpayment or other amount due). Subtenant Borrower acknowledges that late its failure to make timely payments will cause Sublandlord Lender to incur costs not contemplated by this Sublease, additional expenses in servicing and processing the exact amount of which costs are Loan and that it is extremely difficult and impracticable impractical to calculatedetermine those additional expenses. The parties agree Borrower agrees that the late charge described above payable pursuant to this Paragraph represents a fair and reasonable estimate estimate, taking into account all circumstances existing on the date of this Note, of the extra costs incurred additional expenses Lender will incur by Sublandlord as a result reason of such late payment. Such The late charge shall is payable in addition to, and not be deemed a consent by Sublandlord to in lieu of, any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts interest payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Default Rate (as defined in the Master Lease)pursuant to Section 8.

Appears in 2 contracts

Sources: Master Credit Facility Agreement (Archstone Inc.), Master Credit Facility Agreement (Archstone Smith Operating Trust)

Late Charge. If Subtenant (i) Tenant fails to pay any installment of Base RentalBasic Rent, Subtenant’s Share of the Operating Expenses Adjustment, additional rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoicethe same are due, thenor fails to make any other payment for which Tenant is obligated under this Lease, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount so payable; provided, however, that if Subtenant fails twice Tenant shall pay no late fee for the first such late payment in any calendar year to pay any Recurring Charge on twelve (12) month period during the date the same is due, no Term unless such prior failure continues for three (3) business days after written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar yearTenant. Subtenant Tenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Landlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord Landlord to any late payment, nor a waiver of SublandlordLandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord Landlord is entitled hereunder. In addition, all amounts payable by Subtenant Tenant to Sublandlord Landlord hereunder, exclusive of the late charge described above, if not paid when within ten (10) days after such amounts are due, shall bear interest from the due date until paid at the Interest Rate rate of ten percent (as defined 10%) per annum or the maximum rate of interest permitted to be collected by Landlord by law, whichever is the lesser; provided, however, that the first such late payment in any twelve (12) month period during the Master Lease)Term shall not bear such interest unless such failure continues for three (3) business days after written notice to Tenant.

Appears in 1 contract

Sources: Lease Agreement (Health Net Inc)

Late Charge. If Subtenant (i) Lessee fails or refuses to timely pay any installment of Base Rental, Subtenant’s Share Rent when due and said non-payment continues for a period of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt following written notification of Sublandlord’s invoicenon-payment by Lessor, thenLessor, Subtenant at Lessor's option, shall pay be entitled to Sublandlord an additional collect a late charge equal to of five percent (5%) of the total amount payable; provided, however, that if Subtenant of the late payment to compensate Lessor for the additional expense involved in handling delinquent payments and not as interest. If Lessee fails twice in any calendar year or refuses to timely pay any Recurring Charge installment of Rent within 30 days of its due date, Lessor, at Lessor's option, shall be entitled to collect interest on the delinquent payment(s) from the due date thereof at the same rate of the lesser of 18% per annum or the maximum then allowed by law. If the payment of a late charge required by this Section is duefound to constitute interest notwithstanding the contrary intention of Lessor and Lessee, no such prior written notice shall be necessary and the late charge shall automatically be limited to the maximum amount of interest that lawfully may be collected by Lessor under applicable law, and without notice apply if any payment is determined to each successive Recurring Charge not paid on the date due during exceed such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Subleaselawful amount, the exact amount excess shall be applied to any unpaid Rent then due and payable hereunder and/or credited against the next succeeding installment of which costs are extremely difficult and impracticable Rent payable hereunder. If all Rent payable hereunder has been paid in full, any excess shall be refunded to calculateLessee. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Lessee shall reimburse Lessor for any processing fees charged to Lessor as a result of such late paymentLessee's checks having been returned for insufficient funds. Such late The Lessee shall pay to Lessor an additional charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver three percent (3%) of the amount of any remedies check or bank draft given by Lessee to Lessor in satisfaction (in whole or in part) of any obligation hereunder which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not honored or paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)first presented to Lessee's bank by Lessor.

Appears in 1 contract

Sources: Lease Agreement (Haht Commerce Inc)

Late Charge. If Subtenant (i) Tenant fails to pay any installment of Base RentalBasic Rent, Subtenant’s Share of the Operating Expenses Adjustment, additional rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is are due, or (ii) fails to pay make any other amount payment for which Subtenant Tenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoiceLease, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount so payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Tenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord Landlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord Landlord to any late payment, nor a waiver of SublandlordLandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord Landlord is entitled hereunder. Notwithstanding the foregoing, Landlord will not assess a late charge until Landlord has given written notice of such late payment for the first late payment in any twelve (12) month period and after Tenant has not cured such late payment within three (3) days from receipt of such notice. No other notices will be required during the following twelve (12) months for a late charge to be incurred. In addition, all amounts payable by Subtenant Tenant to Sublandlord Landlord hereunder, exclusive of the late charge described above, if not paid when within five (5) days after such amounts are due, shall bear interest from the due date until paid at the Interest Rate rate of eighteen percent (as defined in 18%) per annum or the Master Lease)maximum rate of interest permitted to be collected by Landlord by law, whichever is the lesser.

Appears in 1 contract

Sources: Lease Agreement (Omada Health, Inc.)

Late Charge. If Subtenant (i) fails Lessee hereby acknowledges that late payment by Lessee to pay Lessor of rent and other sums due hereunder will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Lessor by the terms of any ground lease, mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, rent or any other recurring charges (collectively, “Recurring Charges”), sum due from Lessee shall not be received by Lessor or Lessor's designee within five (5) days after receipt of written notice from Sublandlord that the same is such amount shall be due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant without any requirement for notice to Lessee, Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five six percent (56%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateoverdue amount. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Lessor will incur by Sublandlord as a result reason of late payment by Lessee. Acceptance of such late payment. Such late charge by Lessor shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of Sublandlord’s right Lessee's Default or Breach with respect to insist upon timely payments at any timesuch overdue amount, nor a waiver prevent Lessor from exercising any of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In addition, all amounts the event that a late charge is payable by Subtenant to Sublandlord hereunder, exclusive whether or not collected, for three (3) consecutive installments of Base Rent, then notwithstanding Paragraph 4.1 or any other provision of this Lease to the late charge described abovecontrary, if not paid when dueBase Rent shall, shall bear interest from the at Lessor's option, become due date until paid at the Interest Rate (as defined and payable quarterly in the Master Lease)advance.

Appears in 1 contract

Sources: Sublease Agreement (Hawker Pacific Aerospace)

Late Charge. If Subtenant (i) fails Tenant acknowledges that late payment of rent will cause Landlord to pay incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. These costs include processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any installment ground leases and/or mortgages. Accordingly, if any payment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), rent is not received by Landlord within five (5) days after receipt of written notice from Sublandlord that the same date such payment is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord Landlord on demand as a late charge an additional late charge amount equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the overdue payment. A late charge shall automatically and without notice apply to each successive Recurring Charge not be imposed more than once on any particular installment not paid when due, but imposition of a late charge on the date any payment not made when due during such calendar yeardoes not eliminate or supersede late charges imposed on other (prior) payments not made when due or preclude imposition of a late charge on other installments or payments not made when due. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree Tenant agrees that the late charge described above represents imposed by this provision is a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as a result reason of the late payment by Tenant, and that the imposition of such late payment. Such late charge shall is in addition to and not be deemed a consent by Sublandlord to any late payment, nor a waiver in lieu of SublandlordLandlord’s right to insist upon timely payments at charge interest on unpaid amounts as provided in Paragraph 16.2, below. Notwithstanding the foregoing, before assessing a late charge the first time in any timetwelve (12) month period, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate Tenant pays such delinquent amount within five (as defined in the Master Lease)5) days thereafter.

Appears in 1 contract

Sources: Lease Agreement (eHealth, Inc.)

Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay Landlord of Rent and other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any loan secured by the Property. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), sums due from Tenant shall not be received by Landlord within five (5) days after receipt of written notice from Sublandlord that following the same is duedue date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateoverdue amount. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as a result reason of late payment by Tenant. Acceptance of such late payment. Such late charge by Landlord shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of SublandlordTenant’s right default with respect to insist upon timely payments at any timesuch overdue amount, nor a waiver prevent Landlord from exercising any of any the other rights and remedies to which Sublandlord is entitled granted hereunder. In additionNotwithstanding the foregoing, all amounts payable by Subtenant Tenant shall be entitled, not more than once in any twelve (12) month period, to Sublandlord hereunder, exclusive a notice of the non-payment and a five (5) day grace period thereafter before a late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)may be assessed.

Appears in 1 contract

Sources: Industrial Real Estate Lease (Aspen Aerogels Inc)

Late Charge. If Subtenant 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 (ias defined in Paragraph 4.3 below), without the necessity of prior notice or demand, a late charge equal to four percent (4%) fails to pay of any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), sum required to be paid by Tenant to Landlord under this Lease which is not received by Landlord within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount due date for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateinstallment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as reason of late payment by Tenant. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Tenant a consent by Sublandlord grace period or extension of time within which to pay any late payment, nor a waiver installment of SublandlordRent or Additional Rent (defined in Paragraph 4.3 below) or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s right failure to insist upon timely payments at any time, nor a waiver pay such installment of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid Rent 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 installment or sum, such installment or sum shall bear interest from at the annual rate set forth in Paragraph 35 below, commencing on the due date for such installment or sum and continuing until such installment or sum is paid at the Interest Rate (as defined in the Master Lease)full.

Appears in 1 contract

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

Late Charge. If Subtenant (i) fails Notwithstanding any other provision of this Lease to pay any installment the contrary, Tenant hereby acknowledges that the late payment to Landlord of Base Rental, Subtenant’s Share of the Operating Expenses AdjustmentRent, or other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If any Rent or other recurring charges (collectively, “Recurring Charges”), sums due from Tenant are not received by Landlord or by Landlord’s designated agent within five (5) days after receipt of written notice from Sublandlord that the same is duetheir due date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant then Tenant shall pay to Sublandlord an additional Landlord a late charge equal to Two Hundred Fifty Dollars ($250.00) plus five percent (5%) of the total amount payablesuch overdue amount, plus any costs and attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent and/or other charges when due hereunder; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is duetwelve (12) consecutive month period, no such prior written notice shall be necessary and the late charge shall automatically be waived (a) with respect to the first (1st) occurrence of a late payment of Base Rent, and without notice apply (b) with respect to each successive Recurring Charge not paid on the date due during such calendar yearfirst two (2) occurrences of a late payment of Additional Rent. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult Landlord and impracticable to calculate. The parties Tenant hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred cost that Landlord will incur by Sublandlord reason of Tenant’s late payment and shall not be construed as a result penalty. Landlord’s acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordTenant’s right default with respect to insist upon timely payments at such overdue amount or estop Landlord from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master other rights and remedies granted under this Lease).. INITIALS: Landlord Tenant

Appears in 1 contract

Sources: Office Lease Agreement (Workday, Inc.)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Sublessee hereby acknowledges that late payments payment by Sublessee to Sublessor of Rent will cause Sublandlord Sublessor to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and impracticable accounting charges, and late charges which may be imposed upon Sublessor by the terms of the Master Lease. Accordingly, Sublessee shall pay to calculateSublessor's Agent, as Charges, without the necessity of prior notice or demand, a late charge equal to two percent (2%) of any installment of Rent which is not received by Sublessor's Agent within fifteen (15) days after the due date for such installment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Sublessor will incur by Sublandlord as reason of late payment by Sublessee. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Sublessee a consent by Sublandlord grace period or extension of time within which to pay any late paymentinstallment of Rent or prevent Sublessor from exercising any right or remedy available to Sublessor upon Sublessee's failure to pay such installment of Rent when due, nor a waiver of Sublandlord’s including without limitation the right to insist upon timely payments terminate the Sublease. In the event any installment of Rent is not received by Sublessor's Agent by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at any timean annual rate set forth in Paragraph 10 below, nor a waiver of any remedies to which Sublandlord commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is entitled hereunderpaid in full. In addition, Sublessee shall pay all amounts payable reasonable costs and attorneys' fees incurred by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined Sublessor in the Master Lease)collection of such amounts.

Appears in 1 contract

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

Late Charge. If Subtenant Notwithstanding anything to the contrary herein contained, in order to cover the extra expense involved in handling delinquent payments, Tenant, at Landlord's option, shall pay a "late charge" of ten (i10%) fails to pay percent when any installment payment of Annual Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same additional rent hereunder is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within paid more than ten (10) days after receipt the due date thereon ("Delinquency"). It is understood and agreed that this charge is for additional expense incurred by Landlord and shall not be considered interest. Tenant acknowledges that Landlord has the right and privilege to require that the Annual Base Rent due under this Lease be paid in advance on an annual basis; however, for the convenience of Sublandlord’s invoicethe Tenant, provided no Delinquencies occur, Landlord is willing to permit Tenant to pay the Annual Base Rent in monthly installments as set forth herein. If three (3) Delinquencies occur during any twelve (12) month period, then, Subtenant shall at Landlord's option, from time to time, Landlord may demand that Tenant pay to Sublandlord an additional late charge equal Landlord one (1) Year's Annual Base Rent at the then current rate or amount ("Delinquency Payment"). The Delinquency Payment shall be applied towards the next twelve (12) installments of Annual Base Rent next coming due hereunder. The Delinquency payment shall bear no interest and if legally permissible, Landlord shall be entitled to five percent (5%) of commingle the total amount payable; provided, however, that if Subtenant fails twice in any calendar year Delinquency Payment with Landlord's other funds. If Tenant shall fail to pay any Recurring Charge on the date the same Delinquency Payment within fifteen (15) days after demand is duemade therefor, no such prior written notice failure shall be necessary and the late charge shall automatically and without notice apply constitute a default pursuant to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).

Appears in 1 contract

Sources: Lease Agreement (Boomerang Systems, Inc.)

Late Charge. If Subtenant (i) fails Late payment by Tenant to pay any installment Landlord of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date sums due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are is extremely difficult to ascertain. Such costs include, but are not limited to, processing and impracticable accounting charges, attorneys’ charges, late payment charges on a mortgage, and so forth. In the event that Tenant shall fail to calculate. The parties pay Rent or any other sums owing under this Lease when due and such failure continues for five (5) days after written notice from Landlord to Tenant, or if for a second or subsequent time in any calendar year Tenant fails to pay any Rent or any other sums owing under this Lease when due, Tenant shall pay to Landlord a service charge in an amount equal to 5% of such amount not paid when due which Landlord and Tenant agree that the late charge described above represents is not a fair and penalty but is a reasonable estimate of the extra costs incurred by Sublandlord expenses Landlord may incur as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to In the event of any late paymentpayment of Rent or other sums due under this Lease, nor a waiver of Sublandlord’s right in addition to insist upon timely payments at any timethe foregoing service charge, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, amount unpaid shall bear interest at the higher of (i) Bank of America’s “reference rate” plus 6% per annum, or (ii) 12% per annum, but in no event shall such interest exceed the maximum rate allowed by law. Such interest shall be calculated from the date such amount was due date and payable until paid at the Interest Rate (same shall have been fully paid. Further, if Landlord incurs any reasonable attorneys’ fees in excess of $250 with respect to all Defaults in any calendar year, then Tenant shall pay as defined an additional late charge the sum of all such reasonable attorneys’ fees in excess of $250. Except as otherwise expressly provided for in this Section 22.1, the Master Lease)foregoing late payment charges and interest shall accrue without the need for Landlord to give Tenant any reminder notice or Default notice as to the unpaid amount owing. Payment of the foregoing amounts shall not excuse or cure Tenant’s Default.

Appears in 1 contract

Sources: Lease (Lpath, Inc)

Late Charge. If Subtenant (i) Sublessee fails to pay to Sublessor any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), amount due hereunder within five (5) days after receipt of written notice from Sublandlord that the same is duedue date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Sublessee shall pay to Sublandlord an additional Sublessor upon demand a late charge equal to five percent (5%) of the total delinquent amount payable; providedaccruing from the due date. In addition, howeverSublessee shall pay to Sublessor interest on all amounts due, that if Subtenant fails twice at the rate identified in any calendar year Section 3.4 of the Master Lease, as incorporated herein (the "Interest Rate"), from the due date to pay any Recurring Charge on and including the date of the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatepayment. The parties agree that the foregoing late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late cost and expense which Sublessor will incur in processing each delinquent payment. Such Sublessor's acceptance of any interest or late charge shall not be deemed a consent by Sublandlord waive Sublessee's default in failing to any late paymentpay the delinquent amount. Notwithstanding the foregoing, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the no late charge described above, if not paid when due, or interest shall bear interest be due on the first (and only the first) late payment of Rent by Sublessee during any twelve (12) month period during the Term unless Sublessee fails to make such payment to Sublessor within five (5) days after Sublessee’s receipt of a written notice of delinquency from the due date until paid at the Interest Rate (as defined in the Master Lease)Sublessor.

Appears in 1 contract

Sources: Lease (Palo Alto Networks Inc)

Late Charge. If Subtenant (i) fails Late payment by Tenant to Landlord of Rent or other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, attorneys' charges, late payment charges on a mortgage, and so forth. In the event that Tenant shall fail to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) business days after receipt of written notice from Sublandlord that the same is due, when due Rent or (ii) fails to pay any other amount for which Subtenant is obligated sums owing under this Sublease within ten (10) days after receipt of Sublandlord’s invoiceLease, then, Subtenant Tenant shall pay to Sublandlord Landlord a service charge in an additional late charge amount equal to five percent (5%) of the total amount payable; provideddelinquent sum for each month that a monthly installment of Rent remains unpaid, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same which Landlord and Tenant agree is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and penalty but is a reasonable estimate of the extra costs incurred by Sublandlord expenses Landlord may incur as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to In the event of any such late payment, nor a waiver of Sublandlord’s right in addition to insist upon timely payments at any timethe foregoing service charge, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, amount unpaid shall bear interest at the higher of (i) Bank of America's "reference rate" plus three percent (3%) per annum, or (ii) twelve percent (12%) per annum, but in no event shall such interest exceed the maximum rate allowed by law. Such interest shall be calculated from the date such amount was due date and payable until paid at the Interest Rate same shall have been fully paid. Further, if Landlord incurs any reasonable attorneys' fees in excess of Eight Hundred Dollars ($800) with respect to all Defaults in any calendar year, then Tenant shall pay as defined an additional late charge the sum of all such reasonable attorneys' fees in excess of Eight Hundred Dollars ($800). The foregoing late payment charges and interest shall accrue without the Master Lease)need for Landlord to give Tenant any reminder notice or Default notice as to the unpaid amount owing.

Appears in 1 contract

Sources: Lease (Maxim Pharmaceuticals Inc)

Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay any installment Landlord of Base RentalRent will cause Landlord to incur costs not contemplated by this Lease, Subtenant’s Share 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 Operating Expenses Adjustmentterms of any mortgage or deed of trust covering the Premises. Accordingly, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord, 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 five (5) days after the total amount payable; provideddue date for such installment or payment. Notwithstanding the foregoing, however, that if Subtenant fails twice Landlord will not assess a late charge until Landlord has given written notice of such late payment for the first late payment in any calendar year to pay any Recurring Charge on twelve (12) month period and after Tenant has not cured such late payment within three (3) business days from receipt of such notice. No other notices will be required during the date the same is due, no such prior written notice shall be necessary and the following twelve (12) months for a late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatebe imposed or incurred. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as reason of late payment by Tenant. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Tenant a consent by Sublandlord grace period or extension of time within which to pay any late payment, nor a waiver installment of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts Base Rent or other sum payable by Subtenant Tenant to Sublandlord hereunderLandlord under this Lease or, exclusive 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 failure to pay such installment of the late charge described above, if not paid 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 due date for such installment, such installment shall bear interest from the due date until paid at the Interest Rate (as defined annual rate set forth in Paragraph 34 below, commencing on the Master Lease)date such Base Rent installment or other sum payable under this Lease is due and continuing until such installment or other sum payable under this Lease is paid in full.

Appears in 1 contract

Sources: Net Lease Agreement (Bloom Energy Corp)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or Notwithstanding any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt provisions of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, thenSublease, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant hereby acknowledges that late payments payment to Sublandlord of Rent, or other amounts due hereunder will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. If any Rent or other sums due from Subtenant are not received by Sublandlord or by Sublandlord's designated agent within ten (10) days after their due date, then Subtenant shall pay to Sublandlord, for each month or partial month during which each overdue amount remains unpaid, a late charge equal to ten percent (10%) of such overdue amount if Sublandlord has given Subtenant written notice that Sublandlord has not received such amounts, or five percent (5%) of such overdue amount if Sublandlord has not given Subtenant such written notice, plus any attorneys' fees incurred by Sublandlord in connection with Subtenant's failure to pay Rent and/or other charge when due hereunder. Sublandlord and impracticable to calculate. The parties Subtenant hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred cost that Sublandlord will incur by Sublandlord as a result reason of such Subtenant's late payment. Such Sublandlord's acceptance of such late charge shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Subtenant's default with respect to insist upon timely payments at such overdue amount or stop Sublandlord from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).other rights and remedies granted under this Sublease. Initials: Sublandlord Subtenant /s/ DWG ---------------- ---------------

Appears in 1 contract

Sources: Sublease Agreement (Scios Inc)

Late Charge. If Subtenant (i) fails to pay any installment payment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same Rent is not received by Landlord when due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord Landlord on demand as a late charge (“Late Charge”) an additional late charge amount equal to five percent (5%) of the total amount payable; providedoverdue payment. Notwithstanding the foregoing, however, that if Subtenant fails twice in any calendar year consecutive twelve (12) month period Tenant shall not be obligated to pay any Recurring a Late Charge on the date the same is first payment of Rent which Landlord does not receive when due, no unless Tenant does not pay such prior Rent within five (5) days after written notice shall be necessary and from Landlord (the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on “Past Due Notice”) that such payment of Rent is past due. If Landlord has given a Past Due Notice, then commencing with the next past due payment in any twelve (12) month period following the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as Past Due Notice, and continuing with each past due payment thereafter in such twelve (12) month period, Tenant shall pay the Late Charge to Landlord on demand without Landlord being obligated to send any Past Due Notice. Each late payment of Rent shall begin a result of such late payment. Such late charge new twelve (12) month period during which Tenant shall not be deemed a consent by Sublandlord entitled to notice for any late payment, nor a waiver subsequent payment of Sublandlord’s right to insist upon timely payments at past due Rent. A Late Charge shall not be imposed more than once on any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if particular installment not paid when due, shall bear interest from the but imposition of a Late Charge on any payment not made when due date until paid at the Interest Rate does not eliminate or supersede late charges imposed on other (as defined in the Master Lease)prior) payments not made when due or preclude imposition of a late charge on other installments or payments not made when due.

Appears in 1 contract

Sources: Lease Agreement (Bridge Capital Holdings)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Tenant hereby acknowledges that late payments payment by Tenant to Landlord of Base Rent and Additional Rent and other sums due hereunder will cause Sublandlord Landlord to incur costs not contemplated by this SubleaseLease, the exact amount of which costs are is extremely difficult to ascertain. Such costs include but are not limited to: administrative, processing, accounting, and impracticable late charges which may be imposed on Landlord by the terms of any contract, revolving credit, mortgage, or trust deed 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 calculateLandlord, as Additional Rent, a late charge equal to two percent (2%) of such overdue amount in addition to such overdue amount, which late charge shall be due on the same date that the overdue amount was due. The parties Parties agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as reason of late payment by Tenant. If any amount due from Tenant to Landlord remains delinquent for a result 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 payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor constitute a waiver of any of Landlord’s rights and remedies to which Sublandlord is entitled granted hereunder. In additionthe event that a late charge is due hereunder, all amounts whether or not collected, for three (3) installments of Base Rent in any 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 Subtenant bank wire/ACH payment or cashier’s check, notwithstanding any provision of this Lease to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)contrary.

Appears in 1 contract

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

Late Charge. If Subtenant (i) Sublessee fails to pay to Sublessor any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), amount due hereunder within five (5) days after receipt of written notice from Sublandlord that the same is duedue date, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Sublessee shall pay to Sublandlord an additional Sublessor upon demand a late charge equal to five percent (5%) of the total delinquent amount payable; providedaccruing from the due date. In addition, howeverSublessee shall pay to Sublessor interest on all amounts due, that if Subtenant fails twice at the rate identified in any calendar year Section 3.4 of the Master Lease, as incorporated herein (the “Interest Rate”), from the due date to pay any Recurring Charge on and including the date of the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatepayment. The parties agree that the foregoing late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late cost and expense which Sublessor will incur in processing each delinquent payment. Such Sublessor’s acceptance of any interest or late charge shall not be deemed a consent by Sublandlord waive Sublessee’s default in failing to any late paymentpay the delinquent amount. Notwithstanding the foregoing, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the no late charge described above, if not paid when due, or interest shall bear interest be due on the first (and only the first) late payment of Rent by Sublessee during any twelve (12) month period during the Term unless Sublessee fails to make such payment to Sublessor within five (5) days after Sublessee’s receipt of a written notice of delinquency from the due date until paid at the Interest Rate (as defined in the Master Lease)Sublessor.

Appears in 1 contract

Sources: Sublease (Gigamon Inc.)

Late Charge. If Subtenant (i) fails to pay any installment of Base RentalFixed Rent, Subtenant’s Share of the Operating Expenses Adjustment, Additional Rent or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice sum due from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease Lessee shall not be received by Lessor within ten (10) days after receipt of Sublandlord’s invoicesaid amount is due, then, Subtenant Lessee shall pay to Sublandlord an additional Lessor on demand a late charge equal to five of three percent (53%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar yearoverdue amount. Subtenant Lessee hereby acknowledges that late payments payment by ▇▇▇▇▇▇ to Lessor of Fixed Rent, Additional Rent or other sums due hereunder will cause Sublandlord Lessor to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely will be difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late paymentascertain. Such costs include, but are not limited to, processing and accounting charges, attorneys' fees, and late charge shall not charges which may be deemed a consent imposed upon Lessor by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver terms of any remedies to which Sublandlord is entitled hereundermortgage or trust deed encumbering the Premises. In addition, all amounts payable by Subtenant to Sublandlord Lessee shall pay on demand twenty-five dollars ($25.00) for any check returned for insufficient funds. Any monetary payment due Lessor hereunder, exclusive of other than late charges, not received by Lessor, when due as to scheduled payments (such as Fixed Rent) or within fifteen (15) days following the late charge described above, if not paid when duedate on which it was due for non-scheduled payment, shall bear interest from the date when due, as to scheduled payments, or the sixteenth (16) day after it was due as to non-scheduled payments to the date until paid at so paid. The interest charged shall be equal to the Interest Rate prime rate reported in The Wall Street Journal as published on the date prior to the date when due plus four percent (as defined in 4%), but shall not exceed the Master Lease)maximum rate allowed by law. All such charges shall also be Rent hereunder.

Appears in 1 contract

Sources: Lease Agreement (Corporate Realty Income Fund I L P)

Late Charge. If Subtenant (i) fails to pay Tenant acknowledges that the late payment by Tenant of any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustmentrent, or any other recurring charges (collectivelysum of money required to be paid by Tenant under this Lease, “Recurring Charges”)will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amount of such costs being extremely difficult and impractical to fix. Such costs and expenses will include, without limitation, attorneys’ fees, administrative and collection costs, and processing and accounting expenses 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, then Tenant shall, upon demand, pay to Landlord a late charge equal to 5% of such delinquent rent as liquidated damages for Tenant’s failure to make timely payment; provided, however, that Landlord agrees that Tenant shall not have to pay such late charge if it makes its payment in full within five (5) days after receipt of written notice from Sublandlord Landlord, except that this notice and cure period shall only be applicable for the same is due, or (ii) first two times each calendar year that Tenant fails to pay any other amount Base Monthly Rent or any Additional Rent when due. If Landlord has provided two notices of a late payment or default during a calendar year, Landlord shall not be obligated to provide any notice thereafter for which Subtenant is obligated under this Sublease within ten (10) days after receipt the remainder of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional such calendar year and such late charge equal shall be due if payment is not made when due without any grace period or notice.. In no event shall this provision for a late charge be deemed to five percent (5%) grant to Tenant a grace period or extension of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year time within which to pay any Recurring Charge on rent or, subject to Section 13 below, prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due within the date the same is duenotice and cure periods otherwise provided under this Lease, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to including any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies terminate this Lease pursuant to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).Section 13.2B.

Appears in 1 contract

Sources: Lease Agreement (American Science & Engineering Inc)

Late Charge. If Subtenant (i) fails to pay any installment of Base RentalRent is not paid promptly when due, Subtenant’s Share such amount shall bear interest at the annual interest rate equal to the lesser of the Operating Expenses Adjustment"prime rate," as announced from time to time by Well▇ ▇▇▇go Bank, or any other recurring charges N.A. (collectively, “Recurring Charges”San Francisco), within plus five (5) days after receipt of written notice from Sublandlord that the same is duepercentage points, or the maximum interest rate allowed by law (ii"Applicable Interest Rate") fails to pay any other amount for from the date on which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoicesaid payment shall be due until the date on which Landlord shall receive said payment. In addition, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five percent (5%) of the total delinquency, to compensate Landlord for the loss of the use of the amount payable; providednot paid and the administrative costs caused by the delinquency, howeverthe parties agreeing that Landlord's damage by virtue of such delinquencies would be difficult to compute and the amount stated herein represents a reasonable estimate thereof. This provision shall not relieve Tenant of Tenant's obligation to pay Rent at the time and in the manner herein specified. Notwithstanding the foregoing, Landlord shall not impose such late charge until Landlord has notified Tenant in writing that if Subtenant fails payment is delinquent, and Tenant has not made such payment within two (2) business days after receipt of such notice, provided that Landlord shall only be required to give such written notice twice in any calendar year to pay year, and if any Recurring Charge on the date the same installment of Rent is duelate thereafter, no such prior written notice shall be necessary and the late charge shall automatically and Landlord may, without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Subleasenotice, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of impose such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)charge.

Appears in 1 contract

Sources: Lease Agreement (O S I Corp)

Late Charge. If Subtenant (i) Sublessee fails to pay Sublessor any installment of Base Rental, Subtenant’s Share of amount due hereunder on or before the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same date when such payment is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Sublessee shall pay to Sublandlord an additional Sublessor upon demand a late charge equal to five percent (5%) of the total amount payable; provideddelinquent amount, howeverprovided that with respect the imposition of such late charge, that if Subtenant fails twice Sublessee shall be entitled to prior written notice and a grace period of five (5) days for the first (and only the first) late payment of Rent in any calendar year to pay any Recurring Charge on during the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateTerm. The parties agree that the foregoing late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result cost and expense that Sublessor will incur in processing each delinquent payment, the exact amount of such late paymentcosts being extremely difficult and impractical to determine. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Sublessor by the terms of Master Lease. Acceptance of any late charge or interest shall not be deemed constitute a consent by Sublandlord waiver of Sublessee’s default with respect to the overdue sum or prevent Sublessor from exercising any of its other rights and remedies under this Sublease. In addition to the foregoing late charge, which is intended to defray Sublessor’s costs resulting from a late payment, nor a waiver of Sublandlord’s right any payment from Sublessee to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if Sublessor not paid when due, due shall at Sublessor’s option bear interest from the date due date until paid to Sublessor by Sublessee at the Interest Rate (as defined in the Master Leasebelow).

Appears in 1 contract

Sources: Sublease (Upwork Inc.)

Late Charge. If Sub-Subtenant (i) fails to pay any installment Base Rent or Additional Rent when due, to help defray the additional cost to Sub-Sublandlord for processing such late payments, Sub-Subtenant shall pay to Sub-Sublandlord on demand a late charge equal to two (2%) percent of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), such installment. Such amount if not received within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails shall also bear interest as provided in Section 22(d). Sub-Subtenant's failure to pay any other such amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the a material breach of this Sub-Sublease. The provision for such late charge shall automatically be in addition to all of Sub-Sublandlord's other rights and without notice apply remedies hereunder, at law or equity and shall not be construed as liquidated damages. At no time shall Sub-Subtenant be obligated or required to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that make any interest payment with respect to late fees or defaulted Rent payments will cause at a rate which could subject Sub-Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord either civil or criminal liability as a result of being in excess of the maximum rate which Sub-Subtenant is permitted by law to contract or agree to pay. If by the terms of this Sub-Sublease, Sub-Subtenant is at any time required or obligated to pay interest arising out of late payment fees or defaulted rent payments at a rate in excess of such late payment. Such late charge maximum rate, the rate of interest under this Sub-Sublease shall not be deemed a consent by Sublandlord to any late payment, nor a waiver be immediately reduced to such maximum rate and interest payable hereunder shall be computed at such maximum rate and the portion of Sublandlord’s right all prior interest payments in excess of such maximum rate shall be applied and shall be deemed to insist upon timely have been payments at any time, nor a waiver in reduction of any remedies to which Sublandlord is entitled rent due hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).

Appears in 1 contract

Sources: Sub Sublease Agreement (Biopure Corp)

Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay Landlord of Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which would be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord. Accordingly, if any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, Monthly Rental or any other recurring charges sum due from Tenant shall not be received by Landlord within three (collectively, “Recurring Charges”), within five (53) business days after receipt of written notice from Sublandlord that the same said amount is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord, in addition to any other sums payable hereunder, a late charge equal to of five percent (5%) of the total amount payabledue, plus any attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Base Monthly Rental and/or other charges when due hereunder, together with interest at an annual rate equal to the lesser of (i) the maximum rate of interest allowed by law, or (ii) eight percent (8%) per annum (the “Interest Rate”) from the date due until paid; provided, however, that if Subtenant fails twice the foregoing late charge and interest shall not apply to the first such late payment as to which such late charge and interest would otherwise be applicable in any calendar year to pay twelve (12) month period of the Term of this Lease or any Recurring Charge on the date the same is due, no such prior extension thereto until following written notice shall be necessary to Tenant and the late charge shall automatically and expiration of five (5) days thereafter without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatecure. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred which Landlord will incur by Sublandlord as a result reason of the late payment by Tenant. Acceptance of such late payment. Such late charge charges by the Landlord shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of SublandlordTenant’s right default with respect to insist upon timely payments at any timesuch overdue amount, nor a waiver of prevent Landlord from exercising any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)other rights and remedies granted hereunder.

Appears in 1 contract

Sources: Office Lease (Asana, Inc.)

Late Charge. Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment to Lessor of Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If Subtenant (i) Lessee fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), Rent owed to Lessor within five (5) days after receipt the date any such payment is required to be made hereunder and, except as hereafter provided with respect to late payments of written notice from Sublandlord that the same is duemonthly installments of Annual Base Rent, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease cure such default within ten two (102) days after receipt of Sublandlord’s invoicenotice (which notice may be telephone) from Lessor, then, Subtenant then Lessee shall pay to Sublandlord an additional Lessor a late EXHIBIT 10.27 *CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. charge equal to five [*] percent (5[*]%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in plus any calendar year costs and === === attorneys' fees incurred by Lessor by reason of Lessee's failure to pay such Rent when due hereunder. Notwithstanding the foregoing, with respect to late payments of monthly installments of Annual Base Rent, Lessee shall only be entitled to receive notice (which notice may be telephonic) two times during each twenty-four (24) month period under this Lease and, thereafter, Lessee shall owe a late charge to Lessor if any Recurring Charge on monthly installment of Annual Base Rent is not paid within five (5) days after the date the same such installment is due, no such prior written notice shall be necessary . Lessor and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties Lessee hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred that Lessor will incur by Sublandlord reason of Lessee's late payment and shall not be construed as a result penalty. Lessor's acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Lessee's default with respect to insist upon timely payments at such overdue amount or estop Lessor from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master other rights and remedies granted under this Lease).. Initials: ------------- ------------ Lessor Lessee

Appears in 1 contract

Sources: Ground Lease (Equinix Inc)

Late Charge. Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment to Lessor of Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If Subtenant (i) Lessee fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), Rent owed to Lessor within five (5) days after receipt the date any such payment is required to be made hereunder and, except as hereafter provided with respect to late payments of written notice from Sublandlord that the same is duemonthly installments of Annual Base Rent, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease cure such default within ten two (102) days after receipt of Sublandlord’s invoicenotice (which notice may be telephone) from Lessor, then, Subtenant then Lessee shall pay to Sublandlord an additional Lessor a late EXHIBIT 10.27 charge equal to five percent (5%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in plus any calendar year costs and attorneys' fees incurred by Lessor by reason of Lessee's failure to pay such Rent when due hereunder. Notwithstanding the foregoing, with respect to late payments of monthly installments of Annual Base Rent, Lessee shall only be entitled to receive notice (which notice may be telephonic) two times during each twenty-four (24) month period under this Lease and, thereafter, Lessee shall owe a late charge to Lessor if any Recurring Charge on monthly installment of Annual Base Rent is not paid within five (5) days after the date the same such installment is due, no such prior written notice shall be necessary . Lessor and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties Lessee hereby agree that the such late charge described above represents charges represent a fair and reasonable estimate of the extra costs incurred that Lessor will incur by Sublandlord reason of Lessee's late payment and shall not be construed as a result penalty. Lessor's acceptance of such late payment. Such late charge charges shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of Sublandlord’s right Lessee's default with respect to insist upon timely payments at such overdue amount or estop Lessor from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master other rights and remedies granted under this Lease).. Initials: ------------- ------------ Lessor Lessee

Appears in 1 contract

Sources: Ground Lease (Equinix Inc)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant Sublessee hereby acknowledges that late payments payment by ----------- Sublessee to Sublessor of Base Rent will cause Sublandlord Sublessor to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. such costs include, but are not limited to, processing and impracticable accounting charges, and late charges which may be imposed on Sublessor by the terms of the Lease. Accordingly, Sublessee shall pay to calculateSublessor, as Additional Rent (defined in Paragraph 5.3 below), without the necessity of prior notice or demand (except as expressly provided below in this Paragraph 5.2), a late charge equal to ten percent (10%) of any installment of Base Rent which is not received by Sublessor within five (5) days after the due date for such installment. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Sublessor will incur by Sublandlord as reason of late payment by Sublessee. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Sublessee a consent by Sublandlord grace period or extension of time within which to pay any late paymentinstallment of Base Rent or prevent Sublessor from exercising any right or remedy available to Sublessor upon Sublessee's failure to pay such installment of Base Rent when due, nor a waiver of Sublandlord’s including without limitation the right to insist upon timely payments terminate the Sublease, which remedies may be pursued by Sublessor after expiration of the time period set forth in, and in accordance with, Paragraph 30 (a) of the Lease. Subject to the notice provision set forth below in this Paragraph 5.2, in the event any installment of Base Rent is not received by Sublessor by the thirtieth (30th) day after the due date for such installment, such installment shall bear interest at any timean annual rate set forth in Paragraph 16 below, nor a waiver of any remedies to which Sublandlord commencing on the thirty-first (31st) day after the due date for such installment and continuing until such installment is entitled hereunderpaid in full. In addition, Sublessee shall pay all amounts payable costs and attorneys' fees incurred by Subtenant Sublessor in the collection of such amounts. (b) of the Lease. Subject to Sublandlord hereunderthe notice provision set forth below in this Paragraph 5.2, exclusive in the event Sublessee fails to pay Base Rent to Sublessor within ten (10) days of the due date thereof and Sublessor is assessed a late charge by Lessor pursuant to said paragraph, Sublessee shall immediately upon demand by Sublessor pay to Sublessor the full amount of the late charge described assessed by Lessor. Said charge shall be payable by Sublessee in addition to, and not in lieu of, the late charge specified in the immediately preceding paragraph. Notwithstanding the foregoing, Sublessee shall not be responsible for any late charge or fee arising from a Sublessor's Lease Default. The foregoing notwithstanding, before Sublessee is assessed a late charge hereunder or interest accrues on delinquent installments of Base Rent as provided above, (i) Sublessee shall have failed to pay an installment of Base Rent on or prior to the date such installment was due, and (ii) Sublessor shall have given Sublessee one (1) written notice during the immediately preceding twelve (12) month period that Sublessee has failed to pay an installment of Base Rent on or prior to the date such installment was due. No late charge shall be assessed nor shall interest accrue if the delinquent installment is paid by Sublessee within five (5) days after Sublessee's receipt of such written notice If in the twelve (12) month period following Sublessor's delivery of such written notice, (i) an installment of Base Rent is not paid when due, shall bear interest from within five (5) days after the due date until paid at for such installment or (ii) any installment of Base Rent is not received by Sublessor by the Interest Rate thirtieth (30th) day after the due date for such installment, then a late charge shall be payable and/or interest shall accrue with respect to such delinquent installment, as defined provided above. In addition, in the Master event such written notice given by Sublessor to Sublessee pursuant to this Paragraph 5.2 satisfies the requirements of California Code of Civil Procedure Sections 1161 and 1161.1 (or any successor or replacement statute), Sublessor shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding after expiration of the ten (10) day period set forth in Paragraph 30(a) of the Lease).

Appears in 1 contract

Sources: Sublease (Power Integrations Inc)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share Time is of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt essence to the performance of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar yearLease. Subtenant Tenant acknowledges that late payments payment by Tenant to Landlord of any base monthly rent or other sums due under this Lease will cause Sublandlord Landlord to incur costs and damages, including but not contemplated limited to processing and accounting charges and late charges that may be imposed on Landlord by this Subleasethe terms of any encumbrance secured by the Premises, as well as the loss of the use and time value of money. Landlord and ▇▇▇▇▇▇ specifically agree and acknowledge that the exact amount of which such costs are extremely and damages would be difficult or impossible to prove. Provided that Landlord and impracticable Tenant initial here: \s\ illegible LANDLORD --------------- TENANT --------------- ▇▇▇▇▇▇ agrees that, if any rent or other sum due from Tenant is not received when due, Tenant shall pay to calculateLandlord an additional sum equal to TEN (10) PERCENT OF THE UNPAID BALANCE DUE. The parties Landlord and Tenant hereby agree that they have attempted to estimate the amount of costs and damages which would result from delay in payment, and that the agreed late charge described above represents a fair and reasonable estimate of the extra costs incurred and damages that Landlord will incur by Sublandlord as a result reason of any such late paymentpayment in light of the anticipated or actual harm which would be caused by such delays, the difficulties of proof of loss, and the inconvenience or nonfeasibility of Landlord otherwise obtaining an adequate remedy. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In additionAdditionally, all amounts payable by Subtenant to Sublandlord hereundersuch delinquent rent or other sums, exclusive of the plus this late charge described above, if not paid when duecharge, shall bear interest from the due date until paid at the Interest Rate (as defined rate per annum set forth in the Master Lease)Section 1.9 above. Any payments of any kind returned insufficient funds will be subject to an additional handling charge of $25.00.

Appears in 1 contract

Sources: Lease Agreement (Digirad Corp)

Late Charge. If Subtenant (i) fails Lessee acknowledges that the late payment of Rent will cause Lessor to pay any installment incur damages, including administrative costs, loss of Base Rental, Subtenant’s Share use of the Operating Expenses Adjustmentoverdue funds and other costs, or any other recurring charges (collectively, “Recurring Charges”), the exact amount of which would be impractical and extremely difficult to ascertain. Lessor and Lessee agree that if Lessor does not receive a payment of Rent within five (5) business days after receipt of written notice from Sublandlord the date that the same such payment is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five percent (5%) of the total amount payable; provideddelinquent amount, howeveror the sum of twenty-five dollars ($25.00), that if Subtenant fails twice in any calendar year whichever is greater, as liquidated damages for the damages which Lessor is likely to pay any Recurring Charge on incur for the thirty (30) day period following the due date the same is dueof such payment. Further, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge all portions of Rent not paid on the within thirty (30) days following its due date due during such calendar year. Subtenant acknowledges that and all late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, charges associated therewith shall bear interest from the due date until paid at the Interest Rate (as defined below) beginning on the thirty-first (31st) day following the due date of such Rent and continuing until such Rent, late charges and interest are paid in full. Notwithstanding the foregoing, no late charge shall be assessed by Lessor on the first (1st) delinquent payment of Rent during each calendar year of the Lease Term. 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. The term “Interest Rate” shall mean the lower of (x) the maximum interest rate permitted by law or (y) five percentage points 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, then the largest bank headquartered in the Master 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 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, 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

Sources: Lease Agreement (Peerless Systems Corp)

Late Charge. Notwithstanding any other provision of this Lease, Lessee hereby acknowledges that late payment to Lessor of Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. If Subtenant (i) Lessee fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), Rent owed to Lessor within five (5) days after receipt of written notice from Sublandlord that the same date any such payment is due, or (ii) required to be made hereunder and fails to pay any other amount for which Subtenant is obligated under this Sublease cure such default within ten two (102) days after receipt of Sublandlord’s invoicenotice from Lessor (it being agreed that the requirement for receipt of any such notice from Lessor shall apply only to imposition of the late charge provided for in this Section 4.5, thenand shall not be construed to require Lessor to deliver any notice to Lessee in order for an Event of Default to occur, Subtenant except solely as may be expressly provided in Section 14.1), then Lessee shall pay to Sublandlord an additional Lessor a late charge equal to five percent (5%) of the total amount payable; providedsuch overdue amount, however, that if Subtenant fails twice in any calendar year plus all reasonable attorneys’ fees and costs incurred by Lessor by reason of Lessee’s failure to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary Rent when due hereunder. Lessor and the Lessee hereby agree that such late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred that Lessor will incur by Sublandlord reason of Lessee’s late payment and shall not be construed as a result penalty. Lessor’s acceptance of any such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor constitute a waiver of SublandlordLessee’s right default with respect to insist upon timely payments at such overdue amount or preclude Lessor from exercising any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease).other rights and remedies granted under this Lease on account of such default. INITIALS:

Appears in 1 contract

Sources: Ground Lease (Morgans Hotel Group Co.)

Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay any installment Landlord of Base RentalRent will cause Landlord to incur costs not contemplated by this Lease, Subtenant’s Share 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 Operating Expenses Adjustmentterms of any mortgage or deed of trust covering the Premises. Accordingly, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord that the same is due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord, 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 on or before the total amount payable; provideddue date for such installment or payment. Notwithstanding the foregoing, however, that if Subtenant fails twice Landlord will not assess a late charge until Landlord has given written notice of such late payment for the first late payment in any calendar year to pay any Recurring Charge on twelve (12) month period and after Tenant has not cured such late payment within three (3) business days from receipt of such notice. No other notices will be required during the date the same is due, no such prior written notice shall be necessary and the following twelve (12) months for a late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculatebe imposed or incurred. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as reason of late payment by Tenant. In no event shall this provision for a result of such late payment. Such late charge shall not be deemed to grant to Tenant a consent by Sublandlord grace period or extension of time within which to pay any late payment, nor a waiver installment of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts Base Rent or other sum payable by Subtenant Tenant to Sublandlord hereunderLandlord under this Lease or, exclusive 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 failure to pay such installment of the late charge described above, if not paid 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 due date for such installment, such installment shall bear interest from the due date until paid at the Interest Rate (as defined annual rate set forth in Paragraph 34 below, commencing on the Master Lease)date such Base Rent installment or other sum payable under this Lease is due and continuing until such installment or other sum payable under this Lease is paid in full.

Appears in 1 contract

Sources: Lease Agreement (Rambus Inc)

Late Charge. If Subtenant (i) fails to pay any installment of Base Rental, Subtenant’s Share of the Operating Expenses Adjustment, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of written notice from Sublandlord Sublessee hereby acknowledges that the same is due, or (ii) fails late payment by Sublessee to pay any Sublessor of Rent and other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant shall pay to Sublandlord an additional late charge equal to five percent (5%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date sums due during such calendar year. Subtenant acknowledges that late payments hereunder will cause Sublandlord Sublessor to incur costs not contemplated by this Sublease, the exact amount of which costs are will be extremely difficult to ascertain. Such costs include processing and impracticable accounting charges, and late charges which may be imposed on Sublessor by the terms of the Master Lease. Accordingly, if any installment of Rent or any other sum due hereunder to calculateSublessor from Sublessee shall not be received by Sublessor within five (5) days after the date due, Sublessee shall pay to Sublessor a late charge equal to three percent (3%) of the overdue amount. The parties agree that the amount of such late charge described above represents a fair and reasonable estimate of the extra costs and expenses that would be incurred by Sublandlord as a result Sublessor by reason of late payment by Sublessee. Acceptance of such late payment. Such late charge by Sublessor shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of Sublandlord’s right Sublessee's default with respect to insist upon timely payments at any timesuch overdue amount, nor a waiver of shall such acceptance prevent Sublessor from exercising any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)other rights and remedies granted hereunder or by law to Sublessor.

Appears in 1 contract

Sources: Sublease Agreement (Cytel Corp/De)

Late Charge. If Subtenant (i) Tenant fails to pay when due any installment payment of Base Rentalrent or other charges which Tenant is obligated to pay to Landlord under this Lease, Subtenant’s Share there shall be a late charge, immediately payable by Tenant as additional rent, in the amount of six percent (6%) of each such obligation. Landlord and Tenant agree that this sum is reasonable to compensate Landlord for accounting and administrative expenses incurred by Landlord. In addition to the late charge, any and all rent or other charges which Tenant is obligated to pay to Landlord under this Lease which are unpaid shall bear interest at the rate set forth in Section 17.6 from the date said payment was due until paid, said interest to be payable by Tenant as additional rent. Landlord and Tenant agree that this sum is reasonable to compensate Landlord for the loss of the Operating Expenses Adjustmentuse of funds. Notwithstanding the foregoing, or any other recurring charges (collectively, “Recurring Charges”), within five (5) days after receipt of in the event Landlord shall have provided written notice from Sublandlord that the same is dueto Tenant in accordance with Section 17.1.1, or (ii) fails Tenant shall not be obligated to pay any other amount for which Subtenant is obligated under the late charge and interest otherwise due pursuant to this Sublease within Section 17.3 unless ten (10) days after shall have lapsed following Tenant's receipt of Sublandlord’s invoicesaid notice and the delinquent amount(s) shall not have been paid. In addition to the foregoing, thenif any check tendered by Tenant to Landlord is dishonored by the financial institution upon which the check is drawn (e.g., Subtenant insufficient funds, uncollected funds, account closed, payment stopped, etc.), Tenant shall pay to Sublandlord an additional late charge equal to five percent Landlord the greater of Twenty Dollars (5%$20.00) of or the total amount payable; provided, however, that if Subtenant fails twice actual service fee charged by Landlord's financial institution in any calendar year to pay any Recurring Charge on the date the same is due, no connection with such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. Such late charge shall not be deemed a consent by Sublandlord to any late payment, nor a waiver of Sublandlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Sublandlord is entitled hereunder. In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive of the late charge described above, if not paid when due, shall bear interest from the due date until paid at the Interest Rate (as defined in the Master Lease)dishonored check.

Appears in 1 contract

Sources: Land and Building Lease Agreement (Ediets Com Inc)

Late Charge. If Subtenant (i) fails Tenant hereby acknowledges that late payment by Tenant to pay Landlord of rent, including Additional Rent payable in accordance with this Section 4.3 hereof and all other costs to be paid by Tenant in accordance with this Lease, will cause Landlord to incur costs not contemplated in agreeing to the monetary and other terms of this Lease, the exact amount of which are presently anticipated to be extremely difficult to ascertain. Such costs may include processing and accounting charges and late charges which may be imposes on Landlord by the terms of any mortgage or deed of trust covering the Property and other expenses of a similar or dissimilar nature. Accordingly, if an installment of Base Rentalrent, Subtenant’s Share of the Operating Expenses Adjustmentincluding Additional Rent, or any other recurring charges (collectively, “Recurring Charges”), shall not be received by Landlord within five (5) days after receipt of written notice from Sublandlord that the same is such amount shall be due, or (ii) fails to pay any other amount for which Subtenant is obligated under this Sublease within ten (10) days after receipt of Sublandlord’s invoice, then, Subtenant Tenant shall pay to Sublandlord an additional Landlord a late charge equal to five six percent (56%) of the total amount payable; provided, however, that if Subtenant fails twice in any calendar year to pay any Recurring Charge on the date the same is due, no such prior written notice shall be necessary and the late charge shall automatically and without notice apply to each successive Recurring Charge not paid on the date due during such calendar year. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculateoverdue amount. The parties hereby agree that the such late charge described above represents a fair and reasonable estimate of the extra costs incurred Landlord will incur by Sublandlord as a result reason of late payment by Tenant. Acceptance of such late payment. Such late charge by Landlord shall not be deemed a consent by Sublandlord to any late payment, nor in no event constitute a waiver of Sublandlord’s right Tenants default with respect to insist upon timely payments such overdue amount which Tenant acknowledges will have occurred when the payment is not made at any timethe time it is due, nor a waiver shall the acceptance prevent Landlord from exercising any of any the other remedies to which Sublandlord is entitled granted hereunder. By initialing where indicated below, each of Landlord and Tenant acknowledges its awareness of and express agreement to the foregoing: Landlord Tenant ___________________________ _________________________ ___________________________ _________________________ In addition, all amounts payable by Subtenant to Sublandlord hereunder, exclusive the event an installment of the late charge described above, if rent or Additional Rent is not paid when within thirty (30) days after such installment is due, the amount unpaid shall bear interest from the due date until paid at the Interest Rate maximum rate at which the parties may legally contract commencing upon the thirty-first (as defined in the Master Lease)31st) day after such installment is due.

Appears in 1 contract

Sources: Lease Agreement (Interactive Marketing Technology Inc)