LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member covenants and agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this agreement, the Member shall pay to the Cooperative a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Monthly Housing Charges, or part thereof, more than 10 days in arrears. If a Member defaults in making a payment of Monthly Housing Charges or in the performance or observance of any provision of this agreement, and the Cooperative has obtained the services of any attorney with respect to the defaults involved, the Member covenants and agrees to pay to the Cooperative any costs or fees involved, including reasonable attorney's fees, notwithstanding the fact that a suit has not yet been instituted. In case a suit is instituted, the Member shall pay the cost of the suit, in addition to other aforesaid cost and fees.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. Assessments are delinquent if not paid within fifteen (15) days after they become due. In addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, if an Assessment is delinquent, the Member shall pay to the Cooperative a late charge not to exceed ten percent (10%) of the delinquent Assessments or ten dollars ($10.00), whichever is greater. In addition to late charges imposed on delinquent Assessments, Member shall pay all reasonable costs incurred by the Cooperative in collecting the delinquent Assessments, including reasonable attorneys' fees and interest on all sums due, including the delinquent Assessments at twelve percent (12%) annual interest commencing thirty (30) days after the Assessments becomes due. In the event either party to this Occupancy Agreement institutes legal action against the other party to interpret or enforce this Occupancy Agreement or to obtain damages for any alleged breach of this Occupancy Agreement or to enforce payment of any late charges pursuant to this Article, the prevailing party in such action shall be entitled to an award of reasonable attorneys' fees and other costs of suit.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member covenants and agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, the Member shall pay to the Corporation a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Carrying Charges, or part thereof, more than 10 days in arrears. If a Member defaults in making a payment of Carrying charges or in the performance or observance of any provision of this Agreement, and the Corporation has obtained the services of any attorney with respect to the defaults involved, the Member covenants and agrees to pay to the Corporation any costs or fees involved, including reasonable attorney’s fees, notwithstanding the fact that a suit has not yet been instituted. In case a suit is instituted, the Member shall also pay the costs of the suit, in addition to other aforesaid costs and fees. All payments by the member to the Cooperative shall first be credited to the member’s outstanding balance, if any, for attorney fees and court costs, repairs or delinquent carrying charges, late fees, and lastly to the current month’s carrying charges. If a member defaults in making a payment of carrying charges or in the performance or observance of any provision of this agreement, and the Cooperative has obtained the services of an attorney with respect to the defaults involved, the member covenants and agrees to pay to the Cooperative any costs or fees involved, including reasonable attorney’s fees if the Cooperative prevails in defending a claim or counterclaim brought by the member against the Cooperative, its employees or agents.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. (a) The Member covenants and agrees that, in addition to the other sums including maintenance and repair charges that have become or will become due, pursuant to the terms of this agreement. The Member shall pay to the Cooperative one or more late charges in an amount to be determined from time to time by the Board of Directors for each payment of Monthly Charges, or part thereof, more than 10 days in arrears.
(b) If the Member defaults in making a payment of Monthly Housing Charges or in the performance or observance of any provision of this agreement, and the Cooperative has obtained the services of any attorney with respect to the defaults involved, the Member covenants and agrees to pay to the Cooperative any costs or fees involved, including reasonable attorney's fees, notwithstanding the fact that a suit has not yet been instituted. In case a suit is instituted, the Member shall pay the cost of the suit, in addition to other aforesaid cost and fees.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. Member covenants and agrees that, in addition to all other sums that are or may become due and payable under the terms of this Agreement, Member shall pay to Corporation a “Late Charge” in an amount periodically established by the Board of Directors. A late charge shall be assessed in the case of each payment of Carrying Charge, or part thereof, remaining unpaid after 4:01 PM
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. In addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, the Member shall pay to the Corporation a late charge in an amount to be determined from time to time by the Board for each payment of Monthly Assessments, or part thereof, received after the fifteenth day of the month.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member agrees that, in addition to the other sums that have become or will become due pursuant to the terms of this Agreement, the Member shall pay to the Cooperative a late charge in an amount to be determined from time to time by its Board of Directors for each payment of any part of any Monthly Housing Charge more than five (5) days late or otherwise in violation of the Cooperative's Late Payment Policy, if any. If a Member defaults in making a payment of Monthly Housing Charges or in the performance or observation of any provisions of this Agreement and the Cooperative has hired any attorney with respect to the defaults involved, the Member promises to pay to the Cooperative any costs or fees involved. Including reasonable attorneys' fees, notwithstanding the fact that a suit has not yet been instituted. In case a suit in instituted, the Member shall pay the costs of the suit in addition to all other costs and fees.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member agrees that, in addition to the other sums that have become or will become due pursuant to the terms of this Agreement, where the Member’s share of the carrying charge is more than five (5) days in arrears, the Member shall be liable to the Corporation for a late charge which shall be specified in an Addendum to this occupancy agreement. In the event either party to this Agreement institutes legal action against the other party to interpret or enforce this Agreement or to obtain damages for any alleged breach of this Agreement, or to enforce payment of any late charges pursuant to this Article, the prevailing party in such action shall be entitled to an award of reasonable attorney’s fee and other costs of suit.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, the Member shall pay to the Corporation a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Carrying Charge, or part thereof, more than ten (10) days in arrears. If a Member defaults in making a payment of Carrying Charges or in the performance or observance of any provision of this Agreement and the Corporation has obtained the services of an attorney with respect to the defaults involved, the Member agrees to pay the Corporation all attorneys fees and costs incurred by Corporation, notwithstanding that a lawsuit is not instituted. In addition, the Corporation shall have a right of set-off against the Member’s Transfer Value for the Unit as established by the Corporation’s bylaws for all amounts the Member may owe to the Corporation at the expiration or termination of this Occupancy Agreement.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member agrees that, in addition to the payment of any other sums that have become or will become due pursuant to the terms of this Agreement, the Member will pay to the Corporation a late charge in an amount determined from time to time by the Board for each late payment of the Carrying Charges, or any portion thereof, which is more than 10 days late. If a Member defaults in making any payment of Carrying Charges to the Corporation or in the performance or observance of any provision of this Agreement, and the Corporation obtains the services of an attorney as a result of such defaults, the Member agrees to pay to the Corporation any costs and attorney fees involved, notwithstanding the fact that a suit had not been instituted. If suit is filed, the Member will also pay all court costs and litigation expenses in addition to the attorney fees incurred.
