Common use of Late Charges & Interest Rate Clause in Contracts

Late Charges & Interest Rate. If Landlord does not receive Rent or any other payment due from Tenant on the Due Date, Tenant shall pay to Landlord a late charge equal to five percent (5%) of such past due Rent or other payment. Tenant agrees that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s late payment. Accepting any late charge shall not constitute a waiver by Landlord of Tenant’s default with respect to any overdue amount nor prevent Landlord from exercising any other rights or remedies available to Landlord. If any installment of Monthly Base Rent or Additional Rent, or any other amount payable by Tenant hereunder is not received by Landlord by the Due Date, it shall bear interest at the Interest Rate set forth in the Summary from the Due Date until paid. All interest, and any late charges imposed pursuant to this Section 5.3, shall be considered Additional Rent due from Tenant to Landlord under the terms of this Lease. Notwithstanding the foregoing provisions of this Section 5.3, on the first (1st) occasion in each calendar year during the Term, Landlord shall not assess a late charge or interest on any unpaid amount due until five (5) calendar days after the Due Date; provided, however, that Tenant shall pay to Landlord a late charge and interest on any and all other late payments commencing as of the Due Date and without any notice during the remainder of each such calendar year.

Late Charges & Interest Rate. If Landlord does not receive Rent or any other payment due from Tenant on within five (5) days following the Due Date, Tenant shall pay to Landlord a late charge equal to five percent (5%) of such past due Rent or other payment; provided, however, that Tenant shall be entitled to one notice of late payment and a five (5) day cure period in each calendar year before any such late charge accrues. Tenant agrees that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s late payment. Accepting any late charge shall not constitute a waiver by Landlord of Tenant’s default with respect to any overdue amount nor prevent Landlord from exercising any other rights or remedies available to Landlord. If any installment of Monthly Base Rent or Additional Rent, or any other amount payable by Tenant hereunder is not received by Landlord by the Due Date, it shall bear interest at the Interest Rate set forth in the Summary from the Due Date until paid. All interest, and any late charges imposed pursuant to this Section 5.3, shall be considered Additional Rent due from Tenant to Landlord under the terms of this Lease. Notwithstanding the foregoing provisions of this Section 5.3, on the first (1st) occasion in each calendar year during the Term, Landlord shall not assess a late charge or interest on any unpaid amount due until five (5) calendar days after the Due Date; provided, however, that Tenant shall pay to Landlord a late charge and interest on any and all other late payments commencing as of the Due Date and without any notice during the remainder of each such calendar year.

Late Charges & Interest Rate. If Landlord does not receive Rent or any other payment due from Tenant on within five (5) days after the Due Date, Tenant shall pay to Landlord a late charge equal to five eight percent (58%) of such past due Rent or other payment. Tenant Xxxxxx agrees that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of TenantXxxxxx’s late payment. Accepting any late charge shall not constitute a waiver by Landlord of Tenant’s default with respect to any overdue amount nor prevent Landlord from exercising any other rights or remedies available to Landlord. If any installment of Monthly Base Rent or Additional Rent, or any other amount payable by Tenant hereunder is not received by Landlord by the Due Date, it shall bear interest at the Interest Rate set forth in the Summary from the Due Date until paid. All interest, and any late charges imposed pursuant to this Section 5.3, shall be considered Additional Rent due from Tenant to Landlord under the terms of this Lease. Notwithstanding the foregoing, Tenant will not be assessed the foregoing provisions of this Section 5.3, on the first (1st) occasion in each calendar year during the Term, Landlord shall not assess a late charge or interest on any unpaid amount due until five (5) calendar days after the Due Date; provided, however, that Tenant shall pay to Landlord a late charge and interest on any and all other the first two (2) late payments commencing as of the Due Date and without any notice during the remainder Term, if the applicable payment is made within five (5) days of each such calendar yearTenant’s receipt of notice of nonpayment from Landlord.

Late Charges & Interest Rate. If Landlord does not receive Rent or any other payment due from Tenant on or before five (5) days after the Due Date, Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of such past due Rent or other payment; provided such late charge shall not be payable if Tenant cures such late payment within five (5) days of receiving written notice of such delinquent amount from Landlord for the first two (2) late payments during the Term. Tenant agrees that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s late payment. Accepting any late charge shall not constitute a waiver by Landlord of Tenant’s default with respect to any overdue amount nor prevent Landlord from exercising any other rights or remedies available to Landlord. If any installment of Monthly Base Rent or Additional Rent, or any other amount payable by Tenant hereunder is not received by Landlord by the Due Date, it shall bear interest at the Interest Rate set forth in the Summary from the Due Date until paid. All interest, and any late charges imposed pursuant to this Section 5.3, shall be considered Additional Rent due from Tenant to Landlord under the terms of this Lease. Notwithstanding the foregoing provisions of this Section 5.3, on the first (1st) occasion in each calendar year during the Term, Landlord shall not assess a late charge or interest on any unpaid amount due until five (5) calendar days after the Due Date; provided, however, that Tenant shall pay to Landlord a late charge and interest on any and all other late payments commencing as of the Due Date and without any notice during the remainder of each such calendar year.

Late Charges & Interest Rate. If Landlord does not receive Rent or any other payment due from Tenant on within five (5) business days of the Due Date, Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of such past due Rent or other payment. Tenant agrees that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s late payment. Accepting any late charge shall not constitute a waiver by Landlord of Tenant’s default Event of Default with respect to any overdue amount nor prevent Landlord from exercising any other rights or remedies available to Landlord. If any installment of Monthly Base Rent or Additional Rent, or any other amount payable by Tenant hereunder is not received by Landlord by the Due Date, it shall bear interest at the Interest Rate set forth in the Summary from the Due Date until paid. All interest, and any late charges imposed pursuant to this Section 5.3, shall be considered Additional Rent due from Tenant to Landlord under the terms of this Lease. Notwithstanding the foregoing provisions of this Section 5.3, on the first (1st) occasion in each calendar year during the Term, Landlord shall not assess a late charge or interest on any unpaid amount due until five (5) calendar days after the Due Date; provided, however, that Tenant shall pay to Landlord a late charge and interest on any and all other late payments commencing as of the Due Date and without any notice during the remainder of each such calendar year.

Late Charges & Interest Rate. If Landlord does not receive Rent or any other payment due from Tenant on within five (5) days after the Due Date, Landlord shall first give written notice and Tenant shall have five (5) business days (cure period) to cure such non-payment and if after the expiration of such five (5) business day cure period Tenant has not cured such non-payment, then Tenant shall pay to Landlord a late charge equal to five percent Three Thousand and 00/100 Dollars (5%) of such past due Rent or other payment$3,000.00). Tenant agrees that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s late payment. Accepting any late charge shall not constitute a waiver by Landlord of Tenant’s default Default with respect to any overdue amount nor prevent Landlord from exercising any other rights or remedies available to Landlord. If any installment of Monthly Base Rent or Additional Rent, or any other amount payable by Tenant hereunder is not received by Landlord by the Due Datewithin thirty (30) days following Tenant’s receipt of written notice from Landlord that such amount is due, it shall bear interest at the Interest Rate set forth in the Summary from the Due Date until paid. All interest, and any late charges imposed pursuant to this Section 5.3, shall be considered Additional Rent due from Tenant to Landlord under the terms of this Lease. Notwithstanding the foregoing provisions of this Section 5.3, on the first (1st) occasion in each calendar year during the Term, Landlord shall not assess a late charge or interest on any unpaid amount due until five (5) calendar days after the Due Date; provided, however, that Tenant shall pay to Landlord a late charge and interest on any and all other late payments commencing as of the Due Date and without any notice during the remainder of each such calendar yearARTICLE 6 - SECURITY DEPOSIT Intentionally Omitted.