Common use of Late Charges Clause in Contracts

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 3 contracts

Samples: Lease (VCG Holding Corp), Lease (VCG Holding Corp), Lease (VCG Holding Corp)

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Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent 5% of such overdue amount; provided, however, the foregoing late charge shall not be applicable to the first (5%1st) instance of the installment or $500, whatever is greater, plus any attorney fees incurred late payment of Rent by Landlord by reason Tenant until three (3) business days after written notice to Tenant of Tenant’s failure to pay Rent when due hereundersuch late payment. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s).

Appears in 3 contracts

Samples: Pacific Biosciences of California Inc, Pacific Biosciences of California Inc, Pacific Biosciences of California Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after written notice that said amount is required)past due, then Tenant shall pay to Landlord a late charge equal to five the maximum amount permitted by law (and in the absence of any governing law, ten percent (510%) of the installment or $500, whatever is greatersuch overdue amount), plus any attorney attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the late payment of Tenantby Xxxxxx. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any ground lease, mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Rent rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by charge be Landlord shall in no event constitute a waiver of Tenant’s default Default or Breach with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Rent, then notwithstanding Paragraph 4.1 or any other provision of this Lease to the contrary, Base Rent shall, at Landlord’s option, become due and payable quarterly in advance.

Appears in 3 contracts

Samples: ADESTO TECHNOLOGIES Corp, Rita Medical Systems Inc, Opnext Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) designated agent within five (5) days after receipt of notice that such amount has not been paid when is due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)and owing, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of such unpaid amount each time a late charge is payable during the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderLease Term. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Rent, then Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Section 4.01 or any other provision of this Lease to the contrary.

Appears in 2 contracts

Samples: Work Letter Agreement, Work and Interior Specification Standards (Imprivata Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any amount owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage encumbrance or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent or other payment due from Tenant is not received when past due, Tenant shall pay to Landlord, as liquidated damages for Tenant’s failure to make such timely payment, an additional sum of ten percent (10%) of the overdue Rent or other payment per month as a late charge. Notwithstanding the foregoing, not be received by Landlord or Landlord’s designee more than two (a2) within times in each twelve (12) month period (but not more than five (5) days after receipt times during the entire Term of the Lease), Landlord shall deliver to Tenant written notice that such amount has is past due and owing, in which event such late fee shall not been be due and owing unless such late amount is not paid when due within three (if notice is required pursuant to Section 21(b)3) or (b) within ten (10) business days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five percent (5%) the date of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch written notice. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost administrative costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, the Interest Rate imposed pursuant to Section 22.2.

Appears in 2 contracts

Samples: Lease Agreement (Palm Inc), Lease Agreement (Palmsource Inc)

Late Charges. Tenant hereby acknowledges that in addition to lost interest, the late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or any other sums due hereunder will cause Landlord to incur other costs not contemplated by in this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such other costs include, but are not limited toto processing, processing administrative and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premisescosts. Accordingly, if any installment of Rent rent or any additional rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when shall be due (if notice is required pursuant without regard to Section 21(b)) or (b) within ten (10) days of when due (if no notice is requiredany grace period prior to default granted in this Lease), then Tenant shall pay to Landlord as additional rent hereunder a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that (i) such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur in processing such past-due payment by reason Tenant, (ii) such late charge shall be paid to Landlord as liquidated damages for each delinquent payment, and (iii) the payment of the late payment of Tenant. Acceptance of such late charges charge is to compensate Landlord for the additional administrative expense incurred by Landlord shall in handling and processing delinquent payments. Notwithstanding the above, no event constitute a waiver late charge or interest on past due amounts will be charged if there have been fewer than two (2) incidences of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any late payment within the last twelve (12) months and not more than five (5) incidences of late payments since the beginning of the other rights and remedies granted hereunderlease.

Appears in 2 contracts

Samples: Office Lease (PSW Technologies Inc), Office Lease (PSW Technologies Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent any other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any the mortgage or deed of trust deed covering the Leased Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) 6% of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default or Breach with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, in the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Rent, then notwithstanding any other provision of this Lease, Base Rent shall, at Landlord’s option, become due and payable quarterly in advance.

Appears in 2 contracts

Samples: 1commercial Lease Agreement (Orange 21 Inc.), Commercial Lease Agreement (Orange 21 Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which that may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rent, Additional Rent or any other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall will immediately pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount or the installment or sum of One Hundred Dollars ($500100.00), whatever whichever is greater, plus any attorney fees incurred by Landlord by reason provided, however, that such late change will only be applied upon the second occurrence during the term of Tenant’s failure to pay Rent when due hereunderthe Lease (as extended). The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant, and is in addition to Interest on Past Due Obligations. Acceptance of such late charges charge by Landlord shall will in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunderunder this Lease.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Sonic Foundry Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProperty. Accordingly, if any installment of Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) business days of when due (if no more than once in any twelve month period, then, without any requirement for notice is required)or demand to Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 2 contracts

Samples: NameMedia, Inc., NameMedia, Inc.

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent the Monthly Base Rent, Tenant's share of Operating Expenses or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the PremisesProject. Accordingly, if any installment of Rent the Monthly Base Rent, Operating Expenses, or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required), then to Tenant,Tenant shall pay to Landlord a late charge equal to five percent (5%) of such overdue amount. Landlord shall hereby grant Tenant one (1) free mistake in any twelve (12) month period whereby no late charge shall be assessed on the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderoverdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 2 contracts

Samples: Work Letter Agreement (Convera Corp), Letter Agreement (Convera Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or of a sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) business days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Notwithstanding the foregoing to the contrary, Landlord agrees to provide telephonic notice (but no more than once during any calendar year) to the C.F.O. of Tenant of any default in timely payment of Rent and two (2) business days to cure such default before imposing this late charge.

Appears in 2 contracts

Samples: Hei Inc, Colorado Medtech Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges, and late charges which may be imposed upon Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such an overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of Rent in any twelve (12) month period, then rent shall automatically become payable thereafter by (a) cashier's check, (b) cash, or (c) certified money order. In addition, Landlord reserves the right to increase the percentage or amount (as applicable) assessed as a late charge on any future overdue amounts.

Appears in 2 contracts

Samples: Office Suite Lease Agreement (High Desert Holding Corp.), Office Suite Lease Agreement (High Desert Holding Corp.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Demised Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 2 contracts

Samples: Lease, Lease (VCG Holding Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon Landlord by the terms of any mortgage or trust deed covering the Leased Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of Rent in any twelve (12) month period, then Rent shall automatically become payable thereafter by (a) cashier’s check, (b) cash, or (c) certified money order.

Appears in 2 contracts

Samples: Industrial Lease, Industrial Lease (Sunpower Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment installments of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after written notice that said amount is required)past due, then Tenant shall pay to Landlord a late charge equal to five percent the maximum amount permitted by law (5and in the absence of any governing law, ten (10%) percent of the installment or $500, whatever is greatersuch overdue amount), plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. X.

Appears in 2 contracts

Samples: Northern Empire Bancshares, Northern Empire Bancshares

Late Charges. Tenant’s Rent and all Additional Rent is due on or before the First Day of each Month. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertain. Such costs include, but are not limited towithout limitation, processing processing, administration and accounting charges, and late charges which may be imposed upon Landlord by terms . If any installment of any mortgage or trust deed covering the Premises. Accordingly, if any installment item of Rent due from Tenant shall is not be received by Landlord on or Landlord’s designee (a) within five (5) days after receipt before the 10th day of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the month due, then Tenant shall pay to Landlord a late charge equal to five Landlord, as Additional Rent, (a) ten percent (510%) of the installment or $500overdue Rent, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderas a late charge. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that the Landlord will incur by reason of the late payment of Tenantby Xxxxxx. Acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountamounts, nor prevent the Landlord from exercising any of the other rights and remedies granted available to Landlord hereunder. The payment of a late charge shall be in addition to any interest payable by Tenant under Section 8. In addition to the charges provided for above, Tenant shall pay a charge of $45.00 to Landlord for each check returned for insufficient funds and $125.00 for each "three (3) day pay or quit" notice sent to Tenant by Landlord.

Appears in 2 contracts

Samples: Office Lease (GRI BIO, Inc.), Office Lease (Vallon Pharmaceuticals, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. If a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding paragraph 4 or any other provision of this Lease to the contrary.

Appears in 2 contracts

Samples: Startup Lab Lease Agreement, Lease Agreement

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) 10 days after receipt of notice that such amount has not been paid when due shall be due, then, without any requirement for notice to Tenant (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is requiredexcept as set forth below), then Tenant shall pay to Landlord a late charge equal to five percent the lesser of (1) 5%% of such overdue amount and (ii) of the installment or $500maximum amount permitted by Applicable Requirements. Notwithstanding the foregoing, whatever is greaterwith respect to the first two (2) late payments in any calendar year only, plus any attorney fees incurred by Landlord by reason of Tenant’s failure Tenant shall not be required to pay Rent when due hereunderany late charge until ten (10) days after Landlord has delivered Tenant written notice of such late payment. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 2 contracts

Samples: Lease (Extend Health Inc), Extend Health Inc

Late Charges. Tenant’s Rent and all Additional Rent is due on or before the First Day of each Month. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertain. Such costs include, but are not limited towithout limitation, processing processing, administration and accounting charges, and late charges which may be imposed upon Landlord by terms . If any installment of any mortgage or trust deed covering the Premises. Accordingly, if any installment item of Rent due from Tenant shall is not be received by Landlord on or Landlord’s designee (a) within five (5) days after receipt before the 10th day of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the month due, then Tenant shall pay to Landlord a late charge equal to five Landlord, as Additional Rent, (a) ten percent (510%) of the installment or $500overdue Rent, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderas a late charge. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that the Landlord will incur by reason of the late payment of by Tenant. Acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s default with respect to such the overdue amountamounts, nor prevent the Landlord from exercising any of the other rights and remedies granted available to Landlord hereunder. The payment of a late charge shall be in addition to any interest payable by Tenant under Section 8. In addition to the charges provided for above, Tenant shall pay a charge of $45.00 to Landlord for each check returned for insufficient funds and 5125.00 for each “three (3) day pay or quit” notice sent to Tenant by Landlord.

Appears in 2 contracts

Samples: Office Lease (Equillium, Inc.), Office Lease (Equillium, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProperty. Accordingly, if any installment of Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five four percent (54%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Work Letter Agreement (Oxigene Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impractical to ascertainfix. Such costs include, but are not limited to, processing and accounting charges, and late charges charges, which may be imposed upon imposed, on Landlord by the terms of any mortgage or trust deed encumbrance and note secured by any encumbrance covering the Premises. Accordingly, if any installment of Rent due rent or any other sum clue from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)date, then Tenant shall pay to Landlord as additional rent an additional sum equal to ten (10%) percent of such overdue amount or thirty-five ($35.00) dollars which ever is greater as a late charge. Such sum shall be payable to Landlord together with Tenant's next rental installment after notice is received from Landlord of late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderamount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord.

Appears in 1 contract

Samples: Lease Agreement (Healthcentral Com)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Base Rent and scheduled or Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any mortgage or deed of trust deed covering the Premises. AccordinglyTherefore, if any installment payment of Base Rent due from Tenant shall or Additional Rent is not be received by Landlord or Landlord’s designee (a) paid within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the date due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment amount due or Two Hundred Fifty Dollars ($500250.00), whatever whichever is greater, plus ; provided that upon the first such failure in any attorney fees incurred by Landlord by reason of Lease Year such late charge shall not accrue until five (5) days after Tenant’s failure to pay Rent receipt of notice that the overdue payment was not received when due hereunderand a statement that a late charge will be due five (5) days from the delivery of such notice if the overdue amount is not paid. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the late payment of by Tenant. Acceptance The late charge shall be deemed Additional Rent and the right to require it shall be in addition to all of such late charges by Landlord shall in no event constitute a waiver of TenantLandlord’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder or at law and shall not be construed as limiting Landlord’s remedies in any manner.

Appears in 1 contract

Samples: Alphatec Holdings, Inc.

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent Base Rent, Tenant's Percentage Share of Operating Expenses and scheduled Additional Rent Taxes or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges which that may be imposed upon on Landlord by the terms of any mortgage encumbrances or trust deed notes secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Base Rent or other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) due, then, within ten (10) days of when due (if no notice following the date said Base Rent or other sum is required)due, then Tenant shall pay to Landlord Landlord, without additional invoice or demand, an additional sum equal to six percent (6%) of such overdue amount as a late charge; provided, however, if payments of Base Rent have been made to Landlord in a timely manner pursuant to automatic wire transfer then the late charge herein shall be an additional sum equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderoverdue amount. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the late payment of by Tenant. Acceptance The accrual and/or acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amount, nor prevent Landlord from exercising any of the Landlord's other rights and remedies granted hereunderremedies.

Appears in 1 contract

Samples: Lease Agreement (Avanex Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges sucx xxxe charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Industrial Lease (Hansen Natural Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any sum owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount amounts of which will be are extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage obligation or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent rent or other payment due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) business days after receipt of notice that such amount has not been paid from when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge an additional sum equal to five ten percent (510%) of the installment overdue rent or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderother payment as a late charge. Late charges shall be deemed Additional Rent. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost administrative and other costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, the interest charge imposed pursuant to Paragraph 22.2.

Appears in 1 contract

Samples: Industrial Lease Agreement (Jill Kelly Productions Holding, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Estate Tax increases, Tenant Electricity Cost, parking charges (if any), after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges (if any), after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under section 13.5.

Appears in 1 contract

Samples: Noosh Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or deed of trust deed covering the PremisesShopping Center. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord Landlord, or Landlord’s designee (a) 's agent, within five (5) days after receipt of notice that such amount has not been paid when the due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)date set forth herein, then Tenant shall pay to Landlord a late charge equal to five in the amount of ten (100/o) percent (5%) of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attomey's fees and/or costs incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunderdue. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by of the Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lease Agreement (Envirometrics Inc /De/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Rent, Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs includeIf any Rent, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage Additional Rent or trust deed covering the Premises. Accordingly, if any installment of Rent other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) 's designated agent within ten (10) days of when due (if no notice is required)after being due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent and other charges when due hereunder. All unpaid Rent, Additional Rent or other sum due from Tenant to Landlord under this Lease shall bear interest from the tenth (10th) day after the due date thereof until paid, at the lesser of sixteen percent (16%) per annum or the maximum interest rate per annum allowed by law. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the Tenant's late payment of Tenantpayment. Acceptance Landlord's acceptance of such late charges by Landlord shall in no event not constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent amount or estop Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Industrial Lease (Radio Systems Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, to processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of Tenantpayments by Xxxxxx. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Xxxxxx's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Following each second consecutive installment of Rent that is not paid within five (5) days of the date when due, Landlord shall have the option (i) to require that beginning with the first payment of Rent next due, Rent shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance; and/or (ii) to require that Tenant increase the amount of the Security Deposit by one hundred percent (100%).

Appears in 1 contract

Samples: legistarweb-production.s3.amazonaws.com

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense Increase or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the PremisesBuilding. Accordingly, if any installment of Rent Base Rent, Operating Expense Increase, or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five three percent (53%) of such overdue amount, but not to exceed the installment or $500, whatever maximum late charge permitted by law in the jurisdiction where the Building is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderlocated. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Non Disturbance Agreement (Capital Bank Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) designated agent within five (5) days after receipt of notice that such amount has not been paid when is due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)and owing, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment amount which is past due. Notwithstanding the above, once every twelve (12) months during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Rent from Landlord, and Tenant shall not be liable for any late charge, interest or $500, whatever other late fee hereunder if such Rent is greater, plus any attorney fees incurred received by Landlord by reason of within three (3) business days after Tenant’s failure to pay Rent when due hereunderreceipt of such written notice from Landlord. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lionbridge Technologies Inc /De/

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, operational expenses or other monies that come due hereunder from time to time will cause Landlord to incur costs not contemplated by this Lease, the lease. The exact amount of which said costs will be extremely difficult to ascertain. Such costs include, but are not limited to, would include processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed ground lease covering the Premisesthis Project. Accordingly, if any installment of Base Rent, Additional Rent or operating expenses due from Tenant shall not be received by Landlord or Landlord’s his designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten TEN (10) days of when due (if no notice is required)DAYS after such amount shall be due, then without further notice or demand Tenant shall pay to Landlord a late charge equal to five percent of Ten Percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The Both parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the late payment of by Tenant. All payments received by Landlord (including credits) will be applied to the oldest accrued charge(s) first. Acceptance of such a late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.he may have under this Lease. /// ///

Appears in 1 contract

Samples: Lease (GTC Telecom Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or deed of trust deed covering the PremisesShopping Center. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord Landlord, or Landlord’s designee (a) 's agent, within five (5) days after receipt of notice that such amount has not been paid when the due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)date set forth herein, then Tenant shall pay to Landlord a late charge equal to five percent in the amount of ten (510%) percent of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorney's fees and/or costs incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunderdue. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by of the Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lease Agreement (Envirometrics Inc /De/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any amount owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage encumbrance or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent or other payment due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of written notice that such amount has not been paid the same is due (or, if Tenant shall be failed to pay rent when due (more than twice in any calendar year, if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is requiredsuch amounts are not received by landlord on the date due), then Tenant shall pay to Landlord a late charge equal Landlord, as liquidated damages for Tenant's failure to make such timely payment, an additional sum of five percent (5%) of the installment overdue Rent or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderother payment per month as a late charge. The parties hereby agree that such the late charges represent charge represents a fair and reasonable estimate of the cost administrative costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, charging the Interest Rate imposed pursuant to Section 20.2.

Appears in 1 contract

Samples: Industrial Lease Agreement (Tibco Software Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant Tenant's failure to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will pay rent promptly may cause Landlord to incur costs not contemplated by this Lease, the unanticipated costs. The exact amount of which will be such costs are impractical or extremely difficult to ascertain. Such costs may include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by terms of any ground lease, mortgage or trust deed covering encumbering the PremisesProperty. AccordinglyTherefore, if Landlord does not receive any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) rent payment within five (5) days after receipt of Landlord's written notice to Tenant that such amount has not been paid when due (if notice rent payment is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall immediately pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500overdue amount. After Landlord has given to Tenant at any time during this Lease term two (2) written notices that rent payments are past due, whatever is greaterLandlord shall no longer have to give Tenant such written notice under the immediately preceding sentence, plus and thereafter if Landlord does not receive any attorney fees incurred by rent payment within five (5) days after such rent payment becomes due, Tenant shall immediately pay Landlord by reason a late charge equal to ten percent (10%) of Tenant’s failure to pay Rent when due hereunderthe overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges payment. If such late charge is not paid when due hereunder, such failure shall be deemed a default by Tenant, and Tenant shall (in addition to Landlord's other remedies) pay to Landlord shall interest (at the rate specified in no event constitute a waiver of Tenant’s default with respect Section 4.6, but not greater than the maximum rate permitted by law on such late charge) on such late charge from the date such late charge is to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderbe paid to Landlord.

Appears in 1 contract

Samples: Netcom Systems Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant In addition to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by constituting a default under this Lease, Lease if the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms same continues beyond the expiration of any mortgage appliable notice or trust deed covering the Premises. Accordinglycure period, if Tenant shall fail to make any installment payment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee within three (a3) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) business days of when due (if no notice is required)due, then Tenant shall pay to Landlord Landlord, within two (2) business days after demand, a late charge equal to five three percent (53%) of the installment or $500amount overdue to reimburse Landlord for its additional administrative costs in processing such payment (provided, whatever is greaterhowever, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the Tenant shall be allowed one (1) late payment of TenantRent during the Term of the Lease, which late payment shall not be subject to a late charge hereunder so long as such Rent is paid within three (3) business days after receipt of written notice of said delinquency). Acceptance Unless Landlord notifies Tenant otherwise, all Rent payments shall be made payable and sent to Landlord at Landlord’s Notice Address. If so directed in writing by Xxxxxxxx or at the request of such late charges Tenant upon at least ten (10) business days’ prior notice, Tenant shall make all payments by wire transfer, Automated Clearing House (“ACH”) or a similar electronic funds transfer system designated by Landlord. If any Rent payment is not received by Landlord within fifteen (15) days of the applicable due date therefor, then in addition to the late charge above, such payment shall bear interest from the date that Rent became due and payable to the date of payment by Tenant at the interest rate of nine percent (9%) per annum, provided that in no event constitute a waiver of Tenant’s default with respect to case shall such overdue amount, nor prevent Landlord from exercising any of rate be higher than the other rights and remedies granted hereunderhighest rate permitted by Applicable Laws.

Appears in 1 contract

Samples: Purchase and Sale Agreement (LL Flooring Holdings, Inc.)

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Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) designated agent within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Section 4.1 or any other provision of this Lease to the contrary. No late payment to Landlord may be assessed a late charge more than once.

Appears in 1 contract

Samples: Lease Agreement (C3.ai, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when after such amount shall be due (if no then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that casts Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Section 4 or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Substance Abuse Technologies Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) business days after receipt of notice that such amount has not been paid when shall be due then, without any requirement for notice to Tenant (if notice is required pursuant to notwithstanding Section 21(b14.1(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five four (4) percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three consecutive installments of Base Rent, then at Landlord's option Base Rent shall become due and payable quarterly in advance, rather than monthly, notwithstanding Article IV or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Lease (Exodus Communications Inc)

Late Charges. Tenant hereby acknowledges that any late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent due from Tenant shall is not be received by Landlord or Landlord’s its designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when after the due (if no notice is required)date therefor, then Tenant shall pay to Landlord a late charge equal to five three percent (53%) of the installment amount due. Notwithstanding the foregoing, Xxxxxxxx agrees to waive such late charge on the first occasion of such late payment during any consecutive twelve (12) calendar month period provided that such overdue amount is paid in full by check or $500, whatever electronic funds transfer within five (5) business days after Xxxxxx’s receipt of notice from Landlord that such payment is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpast due. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance by Landlord of such late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s default with respect to such overdue amount, amount nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. 8.

Appears in 1 contract

Samples: Lease (Instil Bio, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any sum owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount amounts of which will be are extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage obligation or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent rent or other payment due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) business days after receipt of notice that such amount has not been paid from when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge an additional sum equal to five percent (5%) of the installment overdue rent or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderother payment as a late charge. Late charges shall be deemed Additional Rent. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost administrative and other costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, the interest charge imposed pursuant to Paragraph 22.2.

Appears in 1 contract

Samples: Standard Industrial Lease Agreement (Etoys Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Percentage Share of Operating Expenses or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Percentage Share of Operating Expenses or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder[*]. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, including the assessment of interest under Section 17.5. Notwithstanding anything to the contrary contained herein, Tenant shall be entitled to notice [*].

Appears in 1 contract

Samples: Standard Lease (Ambarella Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which that may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rent, Additional Rent or any other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall will immediately pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount or the installment or sum of One Hundred Dollars ($500100.00), whatever whichever is greatergreater provided, plus any attorney fees incurred by Landlord by reason however, such late charge will only be applied upon the second occurrence during the Term of Tenant’s failure to pay Rent when due hereunderthe Lease (as extended). The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant, and is in addition to Interest on Past Due Obligations. Acceptance of such late charges charge by Landlord shall will in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunderunder this Lease.

Appears in 1 contract

Samples: Lease Agreement (Sonic Foundry Inc)

Late Charges. Tenant hereby acknowledges that late payment ------------ by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) business days after receipt of notice that such amount has not been paid when shall be due then, without any requirement for notice to Tenant (if notice is required pursuant to notwithstanding Section 21(b14.1(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five four (4) percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three consecutive installments of Base Rent, then at Landlord's option Base Rent shall become due and payable quarterly in advance, rather than monthly, notwithstanding Article IV or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Exodus Communications Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)after such amount shall be due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) percent of such overdue amount which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder unless by such acceptance the default is cured, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 1 contract

Samples: Lease (Hybrid Networks Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Lease (Rexahn Pharmaceuticals, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent, of additional rent, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent, additional rent, or any other sums due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) calendar days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five fifteen percent (515%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of any of the aforesaid monetary obligations of Tenant, then the rent shall automatically be due and payable quarterly in advance, rather than monthly, notwithstanding paragraph (3) or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Multi Tenant Lease Agreement (Global Casinos Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this LeaseSublease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s designee within three (a) within five (53) days after receipt of written notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)past due, then Tenant shall pay to Landlord a late charge equal to five the maximum amount permitted by law (and in the absence of any governing law, ten percent (5%) of the installment or $500, whatever is greatersuch overdue amount), plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent payrent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Sub Lease (Bank Holdings)

Late Charges. Section 2.03. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated completed by this Leaselease, the exact amount of which will be extremely difficult to ascertain. Such costs include, include but are not limited to, processing and accounting charges, personnel costs, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Minimum Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of Tenantby Xxxxxx. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. In the event that a late charge is payable hereunder, whether or not collected, for two (2) installments of Minimum Rent in any twelve (12) month period, then the Minimum Rent and/or all other charges hereunder shall, at Landlord’s election by written notice to Tenant, become due and payable quarterly in advance, rather than monthly, notwithstanding any other provision of this lease to the contrary. No Partnership of Joint Venture

Appears in 1 contract

Samples: Commercial Lease Agreement

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expenses or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent Base Rent, Operating Expenses or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) 6% of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of any of the aforesaid monetary obligations of Tenant, then Base Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding paragraph 4.1 or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: License Agreement

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent, of additional rent, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent, additional rent, or any other sums due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) calendar days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five two percent (52%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of any of the aforesaid monetary obligations of Tenant, then the rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding paragraph (3) or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Multi Tenant Lease Agreement (AspenBio Pharma, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Base Rent and scheduled Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the Premises. Accordingly, if any installment of Base Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five percent (5%) of such overdue amount; provided, however, that Landlord shall waive the installment or $500, whatever is greater, plus any attorney fees incurred late charge one (1) time during each calendar year of the term of this Lease if Tenant pays all overdue sums within five (5) days after receipt of written notice by Landlord by reason of Tenant’s failure to pay Rent when due hereunderTenant advising Tenant that such payment is overdue. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, including the assessment of interest under section 16.5.

Appears in 1 contract

Samples: Source Photonics Inc

Late Charges. Tenant hereby acknowledges that the late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs incurcosts not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, to processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or of a sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that from the date such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)becomes due, then Tenant shall pay to Landlord a late charge equal to five one percent (51%) of such overdue amount for each day such rent remains unpaid to a maximum of ten percent (10%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderunpaid rent. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. (xi)

Appears in 1 contract

Samples: Juina Mining Corp Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or of a sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice that said amount is required)past due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. such overdue amount The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of any such late charges charge by the Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Office Building Lease (Southwest Community Bancorp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to ------------ Landlord of Minimum Rent and scheduled Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of If any mortgage Rent or trust deed covering the Premises. Accordingly, if any installment of Rent other sums due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) 's designated agent within ten (10) days of when after its due (if no notice is required)date, then Tenant shall pay to Landlord a late charge equal to five the maximum amount permitted by law (and in the absence of any governing law, [*]percent (5[*]%) of the installment or $500, whatever is greatersuch overdue amount), plus any attorney reasonable attorneys' fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the Tenant's late payment of Tenantpayment. Acceptance Landlord's acceptance of such late charges by Landlord shall in no event not constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent amount or stop Landlord from exercising any of the other rights and remedies granted hereunder. Notwithstanding the foregoing, Landlord agrees to waive the imposition of such late charge on the first (1st) two (2) occasions in any twelve (12) month period, provided each overdue payment is made within five (5) days after Landlord gives Tenant written notice that payment was not made when due.

Appears in 1 contract

Samples: Lease Agreement (Equinix Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sun due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within withiu five (5) )* days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. *business

Appears in 1 contract

Samples: Office Lease (Valuestar Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult difficult, if not impossible, to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant past due, then, in addition to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)an other remedies provided herein, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount (but in no event greater than the installment or $500maximum amount permitted by law), whatever is greaterplus, plus any attorney in either event, all attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant, and that it does not constitute a forfeiture or penalty. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Landlord may, at its option, deduct all late charges from the Security Deposit.

Appears in 1 contract

Samples: Center 21 Office Lease (Pandora Media, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Lease (Regenerx Biopharmaceuticals Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant Tenant's failure to Landlord of Minimum pay Rent and scheduled Additional Rent due hereunder will promptly may cause Landlord to incur costs not contemplated by this Lease, the unanticipated costs. The exact amount of which will be such costs are impracticable or extremely difficult to ascertain. Such costs may include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by terms of any ground lease, mortgage or trust deed covering encumbering the Premises. AccordinglyTherefore, if Landlord does not receive any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) payment within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)it becomes due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderoverdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges by payment. Notwithstanding the foregoing, if Tenant fails to make a Rent payment on time, but Tenant has timely paid all Rent during the 12-month period immediately preceding the date the delinquent Rent payment was due, Landlord shall give Tenant a written notice of delinquency and five-day grace period following such notice in which to pay the delinquent Rent, and if Tenant pays the entire delinquent Rent within the grace period, no event constitute a waiver of Tenant’s default with respect late charge shall be imposed thereon pursuant to such overdue amount, nor prevent Landlord from exercising any of the other rights this Section 3.5 and remedies granted hereunderno interest shall accrue thereon under Section 3.6.

Appears in 1 contract

Samples: Corporate Headquarters Lease (Sybase Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense or Real Property Tax increases, parking charges, Non-Business Hours HVAC Charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense or Real Property Tax increases, parking charges, Non-Business Hours HVAC Charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Standard Office Lease (Motivating the Masses Inc)

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