Common use of Payments to Landlord Clause in Contracts

Payments to Landlord. All payments required to be made by the Tenant under or in respect of this Lease shall be made without any set-off, compensation or deduction whatsoever to the Landlord or to such agent or agents of the Landlord as the Landlord shall hereunder from time to time direct in writing to the Tenant. The Tenant shall pay to the Landlord interest at a rate equal to Five (5%) per cent per annum above the rate of interest charged and published from time to time by the Royal Bank of Canada as its most favourable rate of interest to its most creditworthy and substantial commercial customers on large loans, commonly known as its Prime Rate, on all payments of rent and other sums required to be made under the provisions of this Lease so long as such payments remain unpaid.