Common use of Late Payment Fees Clause in Contracts

Late Payment Fees. If the Tenant fails to pay the rent when due and the rent was given in the form of a cheque or other negotiable instrument that was subsequently dishonoured, the Landlord (Select one (1) option only) 1) is not entitled to charge a late payment fee, or 2) may charge a late payment fee. (The amount of the fee is the amount of NSF (not sufficient funds) charges that have been paid by the Landlord.)

Late Payment Fees. If the Tenant fails to pay the rent when due and due, the rent was given in the form of a cheque or other negotiable instrument that was subsequently dishonoured, dishonoured and the Landlord (Select one (1) option only) 1) is not entitled to may charge a late payment fee, or 2as provided for under clause 4(B)(2) may charge a late payment fee. (The of the lease, the amount of the late payment fee is the amount of the NSF (not sufficient funds) charges that have been paid were charged by a financial institution to the Landlord as a result of the dishonouring of the instrument and that are proved by the LandlordLandlord by a receipt or statement from the financial institution.)