Common use of Past Due Amounts Clause in Contracts

Past Due Amounts. (a) If Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such unpaid amount shall bear interest at the Default Rate from the due date of such amount to the date of payment in full, with interest, and Landlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from Tenant’s failure to perform in a timely manner Tenant’s obligations under this Lease, and has been agreed on by the Parties after negotiation as a reasonable estimate of the additional administrative costs that will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and late payment charge shall not apply if the failure by Tenant to pay when due any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failure; provided, that such three (3)-day notice and cure period shall not be applicable more than once in any twelve (12)-month period. Therefore, on the second time in any twelve (12)-month period that Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demand. Landlord shall have the same remedies for a failure to pay any amount due under this Lease as Landlord has for the failure to pay Basic Monthly Rent.

Past Due Amounts. Seller shall not receive any credit at Closing with respect to any unpaid accrued rents, percentage rents and reimbursements for common area maintenance charges, insurance premiums and other lease charges owing from tenants of the Property as of the Closing date which are more than thirty (a30) If Tenant fails days past due. Seller shall not retain any security deposits or prepaid rent to pay when due offset any amount required unpaid accrued rent or other unpaid amounts. With respect to be paid by Tenant under this Lease, any such unpaid amount amounts, (x) Seller shall bear interest retain the right, at its expense, to xxx the Default Rate from the due date applicable tenant for collection of any such amount unpaid amounts and, to the date of payment extent the applicable lease permits, collection costs and interest (and, in fullsuch regard, Buyer agrees to cooperate reasonably with interest, and Landlord may also charge a sum of five percent (5%) of such any efforts by Seller to collect the aforesaid unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from Tenant’s failure to perform in a timely manner Tenant’s obligations under this Lease, and has been agreed on by the Parties after negotiation as a reasonable estimate of the additional administrative costs that will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and late payment charge shall not apply if the failure by Tenant to pay when due any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failureamounts; provided, that such three (3)-day notice and cure period however, Seller shall not be applicable more than once entitled to xxx for possession), and provided further that Seller shall reimburse Buyer for any cost or expense incurred by Buyer in connection with such cooperation, and (y) if Buyer collects any twelve such unpaid amounts, Buyer shall promptly pay such amounts to Seller (12)-month period. Thereforeand in such regard, if Buyer receives any amount from a tenant of the Property as to which such tenant specifically informs Buyer in writing to which lease obligation such payment is to be applied (which writing may be by notation on a check or check stub or similar method of identifying the rent or other obligation intended to be paid), Buyer shall so apply such payment; if such tenant does not so inform Buyer relative to how a particular payment is to be applied, Buyer shall be entitled to apply such payment first, on the second time in any twelve (12)-month period that Tenant fails account of past due amounts owed to pay when Buyer; second, on account of current amounts owed to Buyer; and third, on account of past due any amount required amounts owed to be paid by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment chargeSeller).) (c) All amounts due under this Lease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demand. Landlord shall have the same remedies for a failure to pay any amount due under this Lease as Landlord has for the failure to pay Basic Monthly Rent.

Past Due Amounts. (a) If Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such unpaid amount shall bear interest at the Default Interest Rate from the due date of such amount to the date of payment in full, with interest. In addition, and Landlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from Tenant’s failure to perform in a timely manner Tenant’s obligations under this Lease, and has been agreed on by the Parties Landlord and Tenant after negotiation as a reasonable estimate of the additional administrative costs that will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) . The payment of this late payment charge shall not constitute a waiver by Landlord of any default by Tenant under this Lease. Notwithstanding the foregoing to the contrary, such interest and late payment charge shall not apply if the failure by Tenant to pay when due any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failure; provided, that such three (3)-day 3) day notice and cure period shall not be applicable more than once in any twelve (12)-month 12) month period. Therefore, on the second time in any twelve (12)-month 12) month period that Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demanddemand (unless expressly provided by the terms of this Lease). Landlord shall have the same remedies for a failure to pay default in the payment of any amount due under this Lease as Landlord has for a default in the failure to pay payment of Basic Monthly Rent.

Past Due Amounts. (a) If Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such unpaid amount shall bear interest at the Default Interest Rate from the due date of such amount to the date of payment in full, with interest. In addition, and Landlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from TenantTxxxxx’s failure to perform in a timely manner Tenant’s obligations under this Lease, and has been agreed on by the Parties Landlord and Tenant after negotiation as a reasonable estimate of the additional administrative costs that which will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and . The payment of this late payment charge shall not apply if the failure constitute a waiver by Tenant to pay when due Landlord of any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failure; provided, that such three (3)-day notice and cure period shall not be applicable more than once in any twelve (12)-month period. Therefore, on the second time in any twelve (12)-month period that Tenant fails to pay when due any amount required to be paid default by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demanddemand (unless expressly provided by the terms of this Lease). Landlord shall have the same remedies for a failure to pay default in the payment of any amount due under this Lease as Landlord has for a default in the failure payment of Basic Monthly Rent. The obligations of Tenant to pay Basic Monthly RentRent and all other amounts due under this Lease, and to perform all of Tenant’s other obligations under this Lease, are severable from and independent of any obligation of Landlord under this Lease.

Past Due Amounts. Amounts not paid within thirty (a30) If Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such unpaid amount shall bear interest at the Default Rate from the due date of such amount to the date of payment in full, with interest, and Landlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from Tenant’s failure to perform in a timely manner Tenant’s obligations under this Lease, and has been agreed on by the Parties after negotiation as a reasonable estimate of the additional administrative costs that will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and late payment charge shall not apply if the failure by Tenant to pay when due any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on of the invoice will be considered past due, provided, however, that Customer shall be authorized to withhold from its payment those amounts which Landlord gives Tenant it believes, in good faith, have been erroneously charged to its account. In order to exercise this provision, Customer must provide Hexagon with immediate written or verbal notice of the reasons (and documentation) supporting its withholding of any such failure; providedsums, and further, it must pay all undisputed amounts billed to its account. After receiving written notice from Customer of the alleged billing discrepancy, Hexagon shall be given thirty (30) days to investigate and engage in informal dispute resolution procedures aimed at resolving the alleged billing dispute. If, after this time period, Hexagon and Customer continue to dispute the existence and/or amount of Customer’ billing claims, then Hexagon or Customer may seek to arbitrate the dispute pursuant to this Agreement. Notwithstanding the foregoing, this provision is not intended to limit Hexagon’s interim right to seek any other relief authorized by this Agreement, including but not limited to discontinuation of the Hexagon services and/or termination of the Agreement for non-payment in the event Hexagon determines that such three (3)-day notice and cure period shall billing claims are not be applicable more than once bona fide. Hexagon may terminate the affected services and/or this Agreement for Cause, as defined in any twelve (12)-month period. Therefore, on section 2.2 of this Agreement in the second time in any twelve (12)-month period that Tenant event Customer fails to pay when due comply with its payment obligations hereunder. Independent of such payment obligations, Customer will make a separate claim in writing, with adequate support, for any amount required credit to be paid by Tenant under this Leasewhich Customer believes itself entitled hereunder, and Hexagon and Customer will promptly address such claim. If Customer does not give Hexagon written notice of a dispute with respect to any charges within six (6) months of the date an invoice was rendered, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease are and invoice shall be deemed to be rent or additional rent, correct and binding. Failure of Hexagon to invoice Customer in a timely manner for any amounts due hereunder shall not be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demand. Landlord shall have the same remedies for deemed a failure waiver by Hexagon of its rights to pay any amount due under this Lease as Landlord has for the failure to pay Basic Monthly Rentpayment.

Past Due Amounts. (a) If Tenant Subtenant fails to pay when due any amount required to be paid by Tenant Subtenant under this LeaseSublease, such unpaid amount shall bear interest at the Default Interest Rate from the due date of such amount to the date of payment in full, with interest. In addition, and Landlord Sublandlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord Sublandlord for LandlordSublandlord’s additional administrative costs resulting from TenantSubtenant’s failure to perform in a timely manner TenantSubtenant’s obligations under this LeaseSublease, and has been agreed on by the Parties after negotiation as a reasonable estimate of the additional administrative costs that will be incurred by Landlord Sublandlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord Sublandlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and . The payment of this late payment charge shall not apply if the failure constitute a waiver by Tenant to pay when due Sublandlord of any amount required to be paid default by Tenant Subtenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failure; provided, that such three (3)-day notice and cure period shall not be applicable more than once in any twelve (12)-month periodSublease. Therefore, on the second time in any twelve (12)-month period that Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease Sublease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demanddemand (unless provided by the terms of this Sublease). Landlord Sublandlord shall have the same remedies for a failure to pay default in the payment of any amount due under this Lease Sublease as Landlord Sublandlord has for a default in the failure to pay payment of Sublease Basic Monthly Rent.

Past Due Amounts. (a) If Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such unpaid amount shall bear interest at the Default Interest Rate from the due date of such amount to the date of payment in full, with interest. In addition, and Landlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from Tenant’s failure to perform in a timely manner Tenant’s obligations under this Lease, and has been agreed on by the Parties Landlord and Tenant after negotiation as a reasonable estimate of the additional administrative costs that which will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and . The payment of this late payment charge shall not apply if the failure constitute a waiver by Tenant to pay when due Landlord of any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failure; provided, that such three (3)-day notice and cure period shall not be applicable more than once in any twelve (12)-month period. Therefore, on the second time in any twelve (12)-month period that Tenant fails to pay when due any amount required to be paid default by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demanddemand (unless expressly provided by the terms of this Lease). Landlord shall have the same remedies for a failure to pay default in the payment of any amount due under this Lease as Landlord has for a default in the failure payment of Basic Monthly Rent. The obligations of Tenant to pay Basic Monthly RentRent and all other amounts due under this Lease, and to perform all of Tenant’s other obligations under this Lease, are severable from and independent of any obligation of Landlord under this Lease.

Past Due Amounts. (a) If Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such unpaid amount shall bear interest at the Default Rate from the due date of such amount to the date of payment in full, with interest, and Landlord may also charge a sum of five percent (5%) of such unpaid amount as a service fee. This late payment charge is intended to compensate Landlord for Landlord’s additional administrative costs resulting from Tenant’s failure to perform in a timely manner Tenant’s obligations under this LeaseLease in a timely manner, and has been agreed on by the Parties after negotiation as a reasonable estimate of the additional administrative costs that will be incurred by Landlord as a result of such failure. The actual cost in each instance is extremely difficult, if not impossible, to determine. This late payment charge shall constitute liquidated damages and shall be paid to Landlord together with such unpaid amount. (b) Notwithstanding the foregoing to the contrary, such interest and late payment charge shall not apply if the failure by Tenant to pay when due any amount required to be paid by Tenant under this Lease is cured within three (3) business days after the date on which Landlord gives Tenant written or verbal notice of such failurefailure (which may be given by email); provided, that such three (3)-day notice and cure period shall not be applicable more than once in any twelve (12)-month period. Therefore, on the second time in any twelve (12)-month period that Tenant fails to pay when due any amount required to be paid by Tenant under this Lease, such interest and late payment charge will be due and payable by Tenant and such notice and cure period will be inapplicable. (Such notice and cure period applies only to such interest and late payment charge.) (c) All amounts due under this Lease are and shall be deemed to be rent or additional rent, and shall be paid without (except as expressly provided in this Lease) abatement, deduction, offset, prior notice or demand. Landlord shall have the same remedies for a failure to pay any amount due under this Lease as Landlord has for the failure to pay Basic Monthly Rent.