Late Charges and Default Interest. If any installment of Rent is not paid within ten (10) business days after its due date, then such arrearage will (i) bear 5% interest from the due date for amounts past due to the Landlord until paid in full; (ii) include a reasonable administrative charge to cover the costs of processing and handling delinquent debts, but not in excess of $100.00; and (iii) include an assessment of an additional 5% penalty charge on any portion of a debt that is more than 90 days past due.
Late Charges and Default Interest. If Bank has not received the full amount of any payment by the end of fifteen (15) calendar days after the date due, including the balance due at maturity, Borrower shall pay a late charge to Bank in the amount of five percent (5%) of the overdue payment of principal and/or interest. Borrower shall pay the late charge promptly, but only once on each late payment. In addition to any late charges that may be assessed as herein provided, the outstanding balance of the Loans after the occurrence of an Event of Default shall accrue interest from the date of the Event of Default at the rate equal to four (4) percentage points per annum in excess of the interest rate that would otherwise be charged if no Event of Default existed. If Bank shall waive in writing or Borrower shall cure such Event of Default, the interest rate shall revert to the non-default rate from and after such waiver or completion of such cure, until another such Event of Default.
Late Charges and Default Interest. Any amount of base rent or additional rent not paid when due hereunder shall earn interest from the date of delinquency at a rate equal to the lesser of four (4) percentage points above the prime or “standard” rate of interest charged by Chase Manhattan Bank, New York, New York, or the highest rate allowed by law (the “Default Rate”).
Late Charges and Default Interest. At the option of Landlord, Landlord may impose a late payment fee equal to the lesser of five percent (5%) of the amount due or the maximum amount permitted by applicable law if any payment of Rent is paid more than five (5) days after its due date. In addition, any amount due hereunder shall bear interest after default in the payment thereof at the annual rate of the lesser of (i) the rate of eighteen percent (18%) per annum or (ii) the maximum lawful interest rate permitted by applicable law.
Late Charges and Default Interest. 4.3.1 If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, then Tenant shall pay Landlord a late charge equal to five percent (5%) of each such installment if any such installment is not received by Landlord within five (5) days from the date it is due. Tenant acknowledges that the late payment of any Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease including, without limitation, administrative costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered as a result of such late payment by Tenant. However, the late charge is not intended to cover Landlord's attorneys' fees and costs relating to delinquent Rent. Acceptance of any late charge shall not constitute a waiver of Tenant's default with respect to such late payment nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease. Late charges shall be deemed Additional Rent. In no event shall this provision for the imposition of a late charge be deemed to grant to Tenant a grace period or an extension of time within which to pay any Rent due hereunder or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant's failure to pay such Rent when due.
4.3.2 Any amount due Landlord by Tenant under the terms of this Lease which are not paid when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest equal to the lesser of (a) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law, or (b) twelve percent (12%), except that amounts spent by Landlord on behalf of Tenant shall bear interest at such rate from the date of disbursement by Landlord.
Late Charges and Default Interest. If any installment under this Note is not received by the Lender within ten (10) calendar days after the installment is due, the Borrower shall pay to the Lender a late charge of four percent (4%) of such installment, such late charge to be immediately due and payable without demand by the Lender. If any installment under this Note remains past due for ten (10) calendar days or more, the outstanding principal balance of this Note shall bear interest "Default Interest") during the period in which the Borrower is in default at a rate of four percent (4%) per annum in excess of the Base Rate, or, if such Default Interest may not be collected from the Borrower under applicable law, then at the maximum increased rate of interest, if any, which may be collected from the Borrower under applicable law.
Late Charges and Default Interest. If Agent has not received the full amount of any payment by the end of fifteen (15) calendar days after the date due, including the balance due at maturity, Borrower shall pay a late charge to Agent in the amount of five percent (5%) of the overdue payment of principal and interest. Borrower shall pay the late charge promptly, but only once on each late payment. Upon receipt of any late charge payments, the Agent will promptly thereafter cause to be distributed such payments to the Banks pro rata according to each Bank's Proportionate Share from the date upon which the Bank became a Bank hereunder. In addition to any late charges that may be assessed as herein provided, the outstanding balance of the Revolving Line of Credit after the occurrence of an Event of Default shall accrue interest from the date of the Event of Default at the rate equal to four (4) percentage points per annum in excess of the interest rate that would otherwise be charged if no Event of Default existed. If Banks shall waive in writing or Borrower shall cure such Event of Default, the interest rate shall revert to the non-default rate from and after such waiver or completion of such cure, until another such Event of Default.
Late Charges and Default Interest. In the event that any payment of principal or interest due hereunder is not received by the Lender within fifteen (15) days following the date such payment is due, the Lender may assess the Borrower a late charge equal to four percent (4%) of the amount of the payment then due and owing. Notwithstanding anything herein to the contrary, upon the occurrence and continuation of an Event of Default, the Borrower shall pay interest at a rate equal to the Default Rate.
Late Charges and Default Interest. 30 Section 3.06. Requirements of Law..................................................................... 30 Section 3.07. Illegality.............................................................................. 31 Section 3.08. Limitation on Types of Loans............................................................ 31 Section 3.09. Compensation............................................................................ 32 Section 3.10. Taxes................................................................................... 32 Section 3.11. Computations............................................................................ 33 Section 3.12. Payments................................................................................ 33 Section 3.13. Lending Offices......................................................................... 34 Section 3.14. Set-Offs, Etc........................................................................... 34
Late Charges and Default Interest. (a) Notwithstanding anything in Section 3.02 to the contrary, the Company hereby promises to pay to the Lender a "late charge" at a rate per annum equal to the Default Rate on any amount of principal of, or interest on, any Loan made by the Lender and on any fee or other amount payable by the Company hereunder to the Lender which shall not be paid in full when due (whether at stated maturity, by acceleration, prepayment or otherwise), for the period from (and including) the due date thereof to (but excluding) the date the same is paid in full; provided that no amounts shall accrue under this Section 3.05(a) for any period during which the Default Rate is in effect pursuant to Section 3.05(b) hereof. Any late charges pursuant to this Section 3.05(a) shall be payable upon demand.
(b) Notwithstanding anything in Section 3.02 to the contrary, if an Event of Default shall occur, then, for so long as such Event of Default shall continue, upon notice from the Lender to the Company, the Company shall pay to the Lender interest at the Default Rate on the principal amount of all of the Loans hereunder for the period from (and including) the date on which such notice shall be given to (but excluding) the date on which such Event of Default shall have been cured or waived (it being acknowledged by the Company that (i) any such cure shall be to the satisfaction of the Lender, (ii) the Lender shall be under no obligation to waive such Event of Default, and (iii) the imposition of the Default Rate shall not be construed as a waiver or limitation of any rights or remedies of the Lender arising out of the Event of Default). Any additional interest pursuant to this Section 3.05(b) shall be payable upon demand.
(c) If the amount of any principal of, or interest on, any Loan made by the Lender is not paid in full within ten (10) days after the same is due, the Company shall pay to the Lender a late fee equal to five percent (5%) of the required payment.
(d) The Company agrees that any additional interest and late charges referred to in this Section 3.05 may be deducted from any amounts paid to the Lender before such amounts are applied to interest on or principal of the Notes.
