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. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent under this Lease will cause Landlord to incur various expenses not contemplated by this Lease, the exact amount of which are presently difficult to ascertain. Accordingly, if any payment of Rent shall not be received by Landlord within five (5) days of the due date thereof, then, without limiting any other rights of Landlord under this Lease, in each month in which any Rent or other payment for such month is not timely paid, Tenant shall also pay Landlord a late charge equal to $1000.00, which late charge shall be in addition to such required payment and shall constitute Additional Rent hereunder. Landlord and Tenant agree that such late charge represents a fair and reasonable estimate of the expenses that Landlord will incur by reason of such late payment by Tenant. Acceptance of such late charge by Landlord shall not constitute a waiver of Tenant's default with respect to any such past due amounts, nor prevent Landlord from exercising any other rights or remedies granted to Landlord under this Lease or at law or in equity. In addition, any Rent or any other sum required to be paid by Tenant under this Lease which is not paid within five (5) days of the due date, shall bear interest, commencing on the sixth (6th) day after the due date thereof and continuing until paid, at the lesser of (a) the maximum rate permitted by applicable law, or (b) eighteen percent (18%) per annum. For purposes of any time periods set forth in this Section 4.06, the payment due date shall be used as the first day of any such period.
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. 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. Any payment of Rent or other amount from Sublessee to Sublessor in this Sublease which is not paid within three (3) days of written notice from Sublessor that such amount is past due shall accrue interest from the date due until the date paid at an annual rate equal to the prime rate of Xxxxx Fargo Bank, plus 2% (the "Interest Rate"). If any installment of Rent is not paid within three (3) days of written notice from Sublessor that such amount is past 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. (Section 3.5) If Tenant fails to make any payment required under this Lease within 5 days after the due date, then Tenant shall pay a late charge equal to 3% of the payment. Tenant shall pay interest on all past due amounts at 12% per annum compounded monthly from the date due until paid.
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. 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 having received a delinquency notice therefor (which notice may be sent via regular mail and need not be sent in the manner required by Article XXI hereof). 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 prime rate of interest from time to time publicly announced by NationsBank, or any successor thereof; 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 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 Bank of America or its successor’s prime commercial rate, as it may be adjusted from time to time, plus 4% per year or the maximum rate then permitted by law (the “Interest Rate”). If any installment of Rent is not paid promptly within two business days after notice (which may be oral) from Sublandlord, 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; provided, however, no notice shall be required from Sublandlord and such late payment charge shall be owing upon the second such late payment in any consecutive twelve-month period. 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 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.
