Common use of Overdue Rate Clause in Contracts

Overdue Rate. In addition to all other rights and remedies of Landlord in this Master Lease, in the event that Landlord shall incur any cost or expense on behalf of Tenant (including curing or payment or discharge of any liability or obligation of Tenant or any breach or default by Tenant hereunder), whether or not there is an Event of Default, which is not paid to Landlord by Tenant within five (5) Business Days of Landlord’s demand therefor accompanied by an invoice in reasonable detail, the same shall bear interest at the Overdue Rate from the date of demand until paid in full and shall constitute Additional Charges.

Appears in 5 contracts

Samples: Master Lease (First Seacoast Bancorp, Inc.), Master Lease (Seritage Growth Properties), Master Lease (Sears Holdings Corp)

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