Common use of Missed Payments Clause in Contracts

Missed Payments. In the event the Lessee should fail to make or cause to be made any of the Rental Payments required under the foregoing provisions of this Section, the item or installment not so paid shall continue as an obligation of the Lessee until the amount not so paid has been paid in full, together with interest thereon from the date due, subject to applicable notice and cure period, at the applicable interest rate stated in this Agreement where so provided, or if not so provided, at twelve percent (12%) per annum.

Missed Payments. In the event the Lessee should fail to make or cause to be made any of the Rental Payments required under the foregoing provisions of this Section, the item or installment not so paid shall continue as an obligation of the Lessee until the amount not so paid has been paid in full, together with interest thereon from the date due, subject to applicable notice and cure period, due at the applicable interest rate stated in this Agreement where so provided, or if not so provided, at twelve percent (12%) per annum.