Common use of Late Payment Charge Clause in Contracts

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is duedue (other than the balloon payment due on the Maturity Date), Borrower shall will pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five 5 percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall will be secured by the Loan Documents.

Late Payment Charge. If any Principalprincipal, interest or any other sum sums due under any the Loan Document is Documents (excluding the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is five calendar (5) days after the date such payment is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five three percent (53%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Mortgage and the other Loan DocumentsDocuments to the extent permitted by applicable law.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) an amount equal to the lesser of five percent (5%) % of such unpaid sum or the maximum amount permitted by applicable law (the “"Late Payment Charge”"), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, subject to any applicable grace or cure period, if any, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principalprincipal, interest or any other sum due under any the Loan Document Documents is not paid by Borrower on within five (5) days of the date on which it such payment is duedue (other than a payment due on the Maturity Date, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five four percent (54%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Pledge Agreement and the other Loan Documents.

Late Payment Charge. If Unless waived by Lender in writing, if any Principal, interest or other sum due under any Loan Document (excluding any payments due on the Maturity Date) is not paid by Borrower on within ten (10) days after the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, monthly installment of principal and interest or other sum (but not including the principal due under any Loan Document at maturity) is not paid by Borrower on or prior to the tenth (10th) day after the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written Bank upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum portion of the outstanding monthly installment of principal and interest then due or the maximum amount permitted by applicable law (the “Late Payment Charge”)law, in order to defray the expense incurred by Lender the Bank in handling and processing such delinquent payment and to compensate Lender the Bank for the loss of the use of such delinquent payment. Such , and such amount shall be secured by the Loan Mortgages and the Other Security Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) % of such unpaid sum (other than in connection with the payment of the entire principal balance of the Loan) or the maximum amount permitted by applicable law (the “"Late Payment Charge”"), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principalprincipal, interest or any other sum due under any the Loan Document Documents is not paid by Borrower on within twelve (12) Business Days of the date on which it is duedue (other than failure to repay the Debt in full on the Maturity Date), Borrower shall pay to Lender (within ten (10) days after Agent, for the date Lender makes written Ratable benefit of the Lenders, upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender Agent in handling and processing such delinquent payment and to compensate Lender Lenders for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document (other than the Principal due on the Maturity Date) is not paid by Borrower on within five (5) days after the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, subject to any applicable grace or cure period, if any, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.Loan

Late Payment Charge. If any Principalprincipal, interest or any other sum due under any the Loan Document Documents is not paid by Borrower on within ten (10) days of the date on which it is duedue (except with respect to any payment due on the Maturity Date), Borrower shall pay to Lender (within ten (10) days after Agent, for the date Lender makes written Ratable benefit of the Lenders, upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender Agent in handling and processing such delinquent payment and to compensate Lender Lenders for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Mortgage and the other Loan Documents.

Late Payment Charge. If any Principal, interest interest, or other sum due under any Loan Document is not paid by Borrower on or Manager within the date on which it applicable grace period (unless such payment is duenot made in connection with an acceleration of the Debt by Lender), Borrower shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid Principal, interest, or other sum or the maximum amount permitted by applicable law (the “Late Payment Charge”)law, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on within five (5) days of the date on which it is due, subject to any applicable cure period, if any, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If Unless waived by Lender in writing, if any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If Unless waived by Lender in writing, if any Principalprincipal, interest or other sum due under any Loan Document is not paid by any Borrower on the date on which it is due, such Borrower shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) Lender, upon demand, an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law Applicable Law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document principal is not paid by Borrower on the date on which it is due or if any interest or any other sums due under the Loan Documents is not paid by Borrower within two (2) Business Days after the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Mortgages and the other Loan Documents.

Late Payment Charge. If any Principalprincipal, interest or any other sum sums due under any the Loan Document Documents is not paid by Borrower on not later than the date on tenth (10th) day after which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five three percent (53%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by each Mortgage and the other Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) an amount equal to the lesser of five percent (5%) % of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower Borrowers on the date on which it is due, Borrower Borrowers shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) an amount equal to the lesser of five percent (5%) % of such unpaid sum or the maximum amount permitted by applicable law (the “"Late Payment Charge”"), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principalprincipal, interest or any other sum sums due under any the Loan Document is Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is five (5) days after such payment is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Security Instruments and the other Loan DocumentsDocuments to the extent permitted by Legal Requirements.

Late Payment Charge. If any Principalprincipal, interest or any other sum sums due under any the Loan Document is Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is five (5) days after such payment is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Pledge Agreement and the other Loan DocumentsDocuments to the extent permitted by Legal Requirements.

Late Payment Charge. If Unless waived by Lender in writing, if any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law Applicable Laws (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principal, interest or other sum due under any Loan Document is not paid by Borrower on the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written demand therefor) an amount equal to the lesser of five percent (5%) % of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”"LATE PAYMENT CHARGE"), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents.

Late Payment Charge. If any Principalprincipal, interest or any other sum due under any the Loan Document Documents, other than the payment of principal due on the Maturity Date, is not paid by Borrower on within five (5) days of the date on which it is due, Borrower shall pay to Lender (within ten (10) days after the date Lender makes written upon demand therefor) an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such Any such amount shall be secured by the Mortgage and the other Loan Documents.