Late Payment Charges and Interest. Any payment of Rent or other amount from Subtenant to Sublandlord or Master Landlord under this Sublease which is not paid on the date due shall accrue interest from the date due until the date paid at a rate equal to the lesser of ten percent (10%) per year or the maximum rate then permitted by law (the “Interest Rate”): If any installment of Rent is not paid promptly on the first of the month, or otherwise when due, Subtenant shall pay to Sublandlord a late payment charge equal to five percent (5%) of the amount of such delinquent payment of Rent, in addition to the installment of Rent then owing. This Section shall not relieve Subtenant of Subtenant’s obligation to pay any amount owing hereunder at the time and in the manner provided.
Late Payment Charges and Interest. Any payment of Rent or --------------------------------- other amount from Sublessee to Sublessor in this Sublease which is not paid on the date due shall accrue interest from the date due until the date paid at an annual rate of ten percent (10%) (the "Interest Rate"). If any installment of Rent is not paid promptly on the first of the month, or otherwise when due, Sublessee shall pay to Sublessor a late payment charge equal to five percent (5%) of the amount of such delinquent payment of Rent, in addition to the installment of Rent then owing. This Section 5 shall not relieve Sublessee of Sublessee's obligation to pay any amount owing hereunder at the time and in the manner provided.
Late Payment Charges and Interest. If any installment of Rent, or any monetary payment due to TEACH hereunder, is not paid on or before the fifth (5th) business day after the date due, then the unpaid amounts shall bear interest at the lower of ten percent (10%) per annum or the maximum lawful rate from the date due to the date of payment (collectively, the “Interest Rate”). In addition, Explore acknowledges that the late payment of any installment of Rent will cause TEACH to incur certain costs and expenses not contemplated under this Sublease, the exact amount of which are extremely difficult or impractical to fix. These costs and expenses will include, without limitation, administrative and collection costs and processing and accounting expenses. Therefore, if any installment of Rent is not received by TEACH on or before the fifth (5th) business day following the date due, then Explore shall pay to TEACH a charge for administration collection and accounting expenses equal to ten percent (10%) of the amount of such delinquent amounts due in addition to the installment of Rent then owing with interest accruing at the Interest Rate. The Parties agree that the late payment charge represents a reasonable estimate of TEACH’s costs and expenses and is fair compensation for TEACH’s loss suffered by Explore’s nonpayment of any amounts when due and payable pursuant to this Sublease. This provision shall not relieve Explore from payment of Rent at the time and in the manner herein specified.
Late Payment Charges and Interest. If any installment of Rent is not paid promptly on the first of the month or otherwise when due, the unpaid amounts shall bear interest at the Interest Rate specified in Section 4.5 of the Master Lease from the date due to the date of payment. In addition, Subtenant acknowledges that the late payment of any installment of Rent will cause Sublandlord to incur certain costs and expenses not contemplated under this Sublease, the exact amount of which are extremely difficult or impractical to fix. These costs and expenses will include, without limitation, administrative and collection costs and processing and accounting expenses. Therefore, if any installment of rent is not received by Sublandlord from Subtenant when due with respect to Base Rent, or within three (3) business days after notice such installment is due with respect to components of rent other than Base Rent, Subtenant shall immediately pay to Sublandlord a charge for administration collection and accounting expenses equal to five percent (5%) of the amount of such delinquent amounts due in addition to the installment of Rent then owing with interest at rate specified above, regardless of whether or not a notice of default or notice of termination has been given by Sublandlord. Notwithstanding the foregoing, Subtenant will be entitled to notice and a three (3) business day cure period before a late fee is assessed for the first late payment of Base Rent in any calendar year only. Sublandlord and Subtenant agree that the late payment charge represents a reasonable estimate of Sublandlord’s costs and expenses and is fair compensation to Sublandlord for its loss suffered by Subtenant’s nonpayment of any amounts when due and payable pursuant to this Sublease. This provision shall not relieve Subtenant from payment of Rent at the time and in the manner herein specified.
Late Payment Charges and Interest. (section _) If a party fails to make any payment required under this Lease within 10 business days after the due date, then that party shall pay the other party a late charge equal to 3% of the payment. A party failing to make any payment when due shall pay interest on all past due amounts at 8% per annum, compounded monthly, from the date due until paid.
Late Payment Charges and Interest. Tenant shall pay a late ------------ --------------------------------- charge of Five Thousand and No/100 Dollars ($5,000.00) if Tenant's monthly installment of Rent is not paid within five (5) days after the due date. In addition to the foregoing late charge, any payment of Rent not paid within five (5) days after the due date shall incur interest from the due date until paid at the rate ("Interest Rate") of four percent (4%) above the highest prime rate of interest quoted from time to time in The Wall Street Journal (or, if The Wall ----------------------- -------- Street Journal is no longer being published or no longer publishes a prime rate, -------------- by a comparable financial publication selected by Landlord); provided, however, that the Interest Rate shall not exceed the maximum rate permitted under applicable state or federal laws.
Late Payment Charges and Interest. Tenant shall pay a late charge of five percent (5%) of the amount of any payment of Rent not paid within five (5) days after notice thereof from Landlord; provided, however, that Landlord shall not be required to provide such notice more than two (2) times in any twelve (12) month period before charging a late charge under this section. Any payment of Rent not paid within five (5) days after the due date shall incur interest from the due date until paid at the rate (“Interest Rate”) of two percent (2%) above the highest prime rate of interest quoted from time to time in The Wall Street Journal (or, if The Wall Street Journal is no longer being published or no longer publishes a prime rate, by a comparable financial publication selected by Landlord); provided, however, that the Interest Rate shall not exceed the maximum rate permitted under applicable state or federal laws.
Late Payment Charges and Interest. Any payment of Rent or other amount from Sublessee to Sublessor in this Sublease which is not paid within five (5) days of the date due shall accrue interest from the date due until the date paid at an annual rate of ten percent (10%) (the "Interest Rate"). If any installment of Rent is not paid by the fifth of the month, or otherwise when due, Sublessee shall pay to Sublessor a late payment charge equal to five percent (5%) of the amount of such delinquent payment of Rent, in addition to the installment of Rent then owing; provided, however, that such late charge (but not payment of the Interest Rate) shall be excused the first time during the Term of the Sublease that an installment of Rent is paid later than the fifth day of the month. This Section 5 shall not relieve Sublessee of Sublessee's obligation to pay any amount owing hereunder at the time and in the manner provided.
Late Payment Charges and Interest. Any payment of rent or other amount from Sublessee to Sublessor under the Sublease which is not paid within 10 (ten) days from the date due shall accrue interest from the date due until the date paid at a rate equal to ten percent (10%) per year; provided, however, that if a court of competent jurisdiction determines the above rate exceeds the highest lawful rate of interest, then at the maximum rate permitted by law. If any installment of rent for the subleased Premises is not paid promptly on the first of the month, or otherwise when due, Sublessee shall pay to Sublessor a late payment charge equal to five percent (5%) of the amount of such delinquent payment of rent, in addition to the installment of rent then owing. This Section 3 shall not relieve Sublessee of Sublessee's obligation to pay any amount owing hereunder at the time and in the manner provided.
Late Payment Charges and Interest. Any payment of Rent or other amount from Subtenant to Sublandlord or Master Landlord under this Sublease which is not paid within ten (10) days after written notice from Sublandlord that the same was not paid on the date due shall accrue interest from the date due until the date paid at a rate equal to the lesser of seven percent (7%) per year or the maximum rate then permitted by law (the “Interest Rate”). If any installment of Rent is not paid within ten(10) days after written notice from Sublandlord that the same was not paid on the due date, Subtenant shall pay to Sublandlord a late payment charge equal to five hundred dollars ($500.00), in addition to the installment of Rent then owing. This Section shall not relieve Subtenant of Subtenant’s obligation to pay any amount owing hereunder at the time and in the manner provided.
