Common use of Late Payments and Interest Clause in Contracts

Late Payments and Interest. If Tenant fails to pay any installment of Rent on or before the fifth day of the calendar month when such installment is due and payable, such unpaid installment shall bear interest at the Default Rate (as defined in SECTION 14.14), thirty (30) days from the date such installment became due end payable to the date of payment thereof by Tenant. Such interest shall constitute Additional Rent hereunder due and payable with the next monthly installment of Rent. In addition, Tenant shall pay to Landlord, as a "late charge" five percent (5%) of any payment herein required to be made by Tenant which is more than ten (10) days late to cover the costs of collecting accounts past due.

Late Payments and Interest. If Tenant fails to pay any installment of Rent on or before the fifth day of the calendar month when such installment is due and payable, such unpaid installment shall bear interest at the Default Rate (as defined in SECTION .SECTION 14.14), thirty (30) days from the date such installment became due end and payable to the date of payment thereof by Tenant. Such interest shall constitute Additional Rent hereunder due and payable with the next monthly installment of Rent. In addition, Tenant shall pay to Landlord, as a "late charge" five percent (5%) of any payment herein required to be made by Tenant which is more than ten (10) days late to cover the costs of collecting accounts past due.

Late Payments and Interest. If Tenant fails to pay any installment of Rent on or before the fifth first day of the calendar month when such installment is due and payable, such unpaid installment shall bear interest at the Default Rate (as defined in SECTION 14.14), thirty (30) days from the date such installment became due end and payable to the date of payment thereof by Tenant. Such interest shall constitute Additional Rent hereunder due additional sums dues under this Lease and payable with the next monthly installment of Rent. In addition, Tenant shall pay to Landlord, as a "late charge" five percent (5%) of any payment herein required to be made by Tenant which is more than ten (10) days late to cover the costs of collecting accounts past due.