Common use of Late Payments of Rent Clause in Contracts

Late Payments of Rent. Following the occurrence of three instances of payment of Rent more than ten (10) days late in any twelve (12) month period, Landlord may, without prejudice to any other rights or remedies available to it, upon written notice to Tenant, (a) require that all remaining monthly installments of Rent shall be payable three (3) months in advance in local bank funds, and, in addition or in the alternative, at Landlord's election, (b) require that Tenant increase the amount of the Security Deposit (if any) by an amount equal to one (1) month's Rent.

Late Payments of Rent. Following the occurrence of three instances of payment of Rent more than ten (10) days late in any twelve (12) month period, Landlord may, without prejudice to any other rights or remedies available to it, upon written notice to Tenant, (a1) require that all remaining monthly installments of Base Rent shall be payable three (3) months in advance in local bank funds, and, advance; and in addition or in the alternative, alternative at Landlord's ’s election, (bii) require that Tenant increase the amount of the Security Deposit (if any) or Letter of Credit by an amount equal to one (1) month's ’s Base Rent.

Late Payments of Rent. Following the occurrence of three instances of payment of Rent more than ten (10) 10 days late in any twelve (12) month period, Landlord may, without prejudice to any other rights or remedies available to it, upon written notice to Tenant, (ai) require that all remaining monthly installments of Rent shall be payable three (3) months in advance in local bank funds, and, advance; and in addition or in the alternative, alternative at Landlord's ’s election, (bii) require that Tenant increase the amount of the Security Deposit (if any) by an amount equal to one (1) month's ’s Rent.

Late Payments of Rent. Following the occurrence of three instances of payment of Rent more than ten (10) 10 days late in any twelve (12) month period, Landlord may, without prejudice to any other rights or remedies available to it, upon written notice to Tenant, (ai) require that all remaining monthly installments of Rent shall be payable three (3) months in advance in local bank funds, and, advance; and in addition or in the alternative, alternative at Landlord's election, (bii) require that Tenant increase the amount of the Security Deposit (if any) by an amount equal to one (1) month's Rent.