Common use of Late Charges and Default Interest Clause in Contracts

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. 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 but in no event shall such rate be less than ten percent (10%) (the “Default Rate”).

Late Charges and Default Interest. Any amount of base rent Base Rent or additional rent 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. Any amount of base rent Base Rent or additional rent 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 law, but in no event shall such rate be less than ten percent (10%) (the “Default Rate”).