Common use of REMEDYING DEFAULTS Clause in Contracts

REMEDYING DEFAULTS. Landlord shall have the right, but shall not be required, to pay such sums or do any act which requires the expenditure of monies which may be necessary or appropriate by reason of the failure or neglect of Tenant to perform any of the provisions of this Lease, and in the event of the exercise of such right by Landlord, Tenant agrees to pay to Landlord forthwith upon demand all such sums, together with interest thereon at a rate equal to 3% over the base rate in effect from time to time at Bank of America (but in no event less than 10% per annum), as an Additional Charge. Any payment of Basic Rent, Additional Charges or other sums payable hereunder not paid within seven (7) days of the due date shall, at the option of Landlord, bear interest at a rate equal to 3% over the base rate in effect from time to time at Bank of America (but in no event less than 10% per annum) from the due date thereof and shall be payable forthwith on demand by Landlord, as an Additional Charge.

REMEDYING DEFAULTS. Landlord shall have the right, but shall not be required, to pay such sums or to do any act which requires the expenditure of monies which may be necessary or appropriate by reason of the failure or neglect of Tenant to perform any of the provisions of this Lease, and in the event of the exercise of such right by Landlord, Tenant agrees to pay to Landlord forthwith upon demand all such sums, together with interest thereon at a rate equal to 3% over the base prime rate in effect from time to time at the Bank of America America, or its successor, (but in no event less than 1018% per annum), as an Additional Chargeadditional charge. Any payment of Basic Fixed Rent, Additional Charges Rent or other sums payable hereunder not paid within seven (7) days of the when due date shall, at the option of Landlord, bear interest at a rate equal to 3% over the base prime rate in effect from time to time at Bank of America (but in no event less than 1018% per annum) from the due date thereof and shall be payable forthwith on demand by Landlord, as an Additional Chargeadditional charge.

REMEDYING DEFAULTS. Landlord shall have the right, but shall not be required, to pay such sums or do any act which requires the expenditure of monies which may be necessary or appropriate by reason of the failure or neglect of Tenant to perform any of the provisions of this Lease, and in the event of the exercise of such right by Landlord, Tenant agrees to pay to Landlord forthwith upon demand all such sums, together with interest thereon at a rate equal to 3% over the base rate in effect from time to time at Bank of America Fleet Bank, N.A. (but in no event less than 1018% per annum), as an Additional Chargeadditional charge. Any payment of Basic Rent, Additional Escalation Charges or other sums payable hereunder not paid within seven (7) days of the when due date shall, at the option of Landlord, bear interest at a rate equal to 3% over the base rate in effect from time to time at Bank of America Fleet Bank, N. A. (but in no event less than 1018% per annum) from the due date thereof and shall be payable forthwith on demand by Landlord, as an Additional Chargeadditional charge.