Common use of PAYMENT OF RENT BY THE TENANT Clause in Contracts

PAYMENT OF RENT BY THE TENANT. The yearly Rental Amount payable by the Tenant to the Landlord and the payment dates are set out on the Application Form and the Booking Confirmation Letter. The Rental Amount must be paid without deductions as per the Application Form and the Booking Confirmation Letter. The Tenant will be liable for interest on any late payments calculated from the due date to the date of final payment at a rate of 15.5 % per year with an additional administrative fee of R350 per default event.

PAYMENT OF RENT BY THE TENANT. The yearly Rental Amount payable by the Tenant to the Landlord and the payment dates are set out on the Application Form and in the Booking Confirmation Letter. The Rental Amount must be paid without deductions as per the Application Form and the Booking Confirmation Letter. The Tenant will be liable for interest on any late payments calculated from the due date to the date of final payment at a rate of 15.5 % per year with an additional administrative fee of R350 per default event.