Common use of Late Charges; Interest Clause in Contracts

Late Charges; Interest. Tenant acknowledges that late payment of Rent or other sums due under the Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount being extremely difficult and impractical to fix. Such costs include processing and accounting charges, late charges that may be imposed on Landlord by the terms of any encumbrance covering the Premises, and interest costs. If Landlord does not receive Rent or any other payment due from Tenant five (5) days after Notice from Landlord that such payment is past due, Tenant shall pay to Landlord an additional sum of ten percent (10%) of such Rent or other payment as a late charge; provided, however, after the first notice in any twelve (12) month period, no further notice shall be required and the late charge shall be imposed after five (5) days. The Parties agree 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 does not waive Tenant’s default with respect to the overdue amount or prevent Landlord from exercising any other rights or remedies available to Landlord. In addition to the late charge, Tenant shall pay interest at the rate of twelve percent (12%) per annum on any Rent or other sum not paid by the date due.

Late Charges; Interest. Tenant acknowledges that late payment of Rent or other sums due under the Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount being extremely difficult and impractical to fix. Such costs include processing and accounting charges, late charges that may be imposed on Landlord by the terms of any encumbrance covering the Premises, and interest costs. If Landlord does not receive any Rent or any other payment sums due from Tenant five (5) days after Notice from Landlord that such payment is past dueon the due date, Tenant shall pay to Landlord an additional sum of ten percent (10%) of such Rent or other payment sum as a late charge; provided, however, after the first notice in any twelve (12) month period, no further notice shall be required and the late charge shall be imposed after five (5) days. The Parties agree that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s 's late payment. Accepting any late charge does not waive Tenant’s 's default with respect to the overdue amount or prevent Landlord from exercising any other rights or remedies available to Landlord. In addition to the late charge, Tenant shall pay interest at the rate of twelve 10 percent (12%) per annum on any Rent or other sum not paid by within 30 days of the date due. Notwithstanding the foregoing, no more often than once during each twelve (12) month period during the Term hereof, Landlord shall provide Tenant with Notice that Tenant has failed to pay to Landlord the Rent or other sums due from Tenant on the due date and, provided that Tenant pays such Rent or other sums due from Tenant to Landlord within five (5) days following Tenant's receipt of Landlord's Notice, Landlord agrees not to assess the aforementioned late charge to Tenant.

Late Charges; Interest. Tenant acknowledges that late payment of Rent ---------------------- or other sums due under the Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount being extremely difficult and impractical to fix. Such costs include processing and accounting charges, late charges that may be imposed on Landlord by the terms of any encumbrance covering the Premises, and interest costs. If Landlord does not receive any Rent or any other payment sums due from Tenant within five (5) days after Notice from Landlord that such payment is past duethe due date, Tenant shall pay to Landlord an additional sum of ten percent (10%) of such Rent or other payment sum as a late charge; provided, however, after . This provision shall not relieve Tenant of Tenant's obligation to pay Rent at the first notice time and in any twelve (12) month period, no further notice shall be required and the late charge shall be imposed after five (5) daysmanner herein specified. The Parties agree that this late charge represents a fair and reasonable estimate of the cost Landlord will incur by reason of Tenant’s 's late payment. Accepting any late charge does not waive Tenant’s 's default with respect to the overdue amount or prevent Landlord from exercising any other rights or remedies available to Landlord. In addition to the late charge, Tenant shall pay interest at the rate of twelve 10 percent (12%) per annum on any Rent or other sum not paid by within 30 days of the date due.