Common use of Late Charges/Habitual Late Payer Clause in Contracts

Late Charges/Habitual Late Payer. Licensee acknowledges that late payment by Licensee to Port of Fees or other sums due under this License will cause Port increased costs not contemplated by this License, the exact amount of which will be extremely difficult to ascertain. Accordingly, if Licensee fails to pay Fees on the date due, such failure shall be subject to a Late Charge at Port's discretion. Licensee shall also pay any costs including attorneys' fees incurred by Port by reason of Licensee's failure to timely pay Fees. Additionally, in the event Licensee is notified by Port that Licensee is considered to be a Habitual Late Payer, Licensee shall pay, as an additional charge, an amount equal to Fifty Dollars ($50.00) (as such amount may be adjusted from time to time by the Port Commission) upon written notification from Port of Licensee's Habitual Late Payer status. The parties agree that the charges set forth in this Section represent a fair and reasonable estimate of the cost that Port will incur by reason of any late payment. Such charges may be assessed without notice and cure periods and regardless of whether such late payment results in an Event of Default. Payment of the amounts under this Section shall not excuse or cure any default by Licensee.

Late Charges/Habitual Late Payer. Licensee Tenant acknowledges that late payment by Licensee Tenant to Port of Fees Rent or other sums due under this License Lease will cause Port increased costs not contemplated by this LicenseLease, the exact amount of which will be extremely difficult to ascertain. Accordingly, if Licensee Tenant fails to pay Fees Rent on the date due, such failure shall be subject to a Late Charge at Port's ’s discretion. Licensee Tenant shall also pay any costs including attorneys' fees incurred by Port by reason of LicenseeTenant's failure to timely pay FeesRent. Additionally, in the event Licensee Tenant is notified by Port that Licensee Tenant is considered to be a Habitual Late Payer, Licensee Tenant shall pay, as an additional chargeAdditional Rent, an amount equal to Fifty Dollars ($50.00) (as such amount may be adjusted from time to time by the Port Commission) upon written notification from Port of LicenseeTenant's Habitual Late Payer status. The parties agree that the charges set forth in this Section represent a fair and reasonable estimate of the cost that Port will incur by reason of any late payment. Such charges may be assessed without notice and cure periods and regardless of whether such late payment results in an Event of Default. Payment of the amounts under this Section shall not excuse or cure any default by LicenseeTenant.