Common use of Rent Payment Clause in Contracts

Rent Payment. Lessee shall pay the rent and other charges provided for in this lease, in lawful money of the United States on or before their specified due dates to Lessor at the address specified in Section 1.8, or to such other party or at such other place as Lessor may hereafter from time to time designate in writing. All rent which is past due shall bear interest at the rate of one percent (1%) per month from the date rent is due until paid. If the maximum annual rate of interest permitted by applicable law shall be less than the rate of interest provided for herein, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before the application of either the late charge of the above-described interest rate the first time in each calendar year during the term of this lease that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee and is in addition to any interest charges on past due rent. For purposes of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income shall be recognized by the parties as and when rent amounts are payable under the terms of this Lease. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled to recognize such expense on the date payment is made.

Rent Payment. Lessee Commencing on the Commencement Date, Tenant agrees to pay Rent (defined below) in monthly installments on or before the first day of each calendar month during the Term; provided, however, that the first full monthly installment of Rent shall be paid in advance on the date of Tenant’s execution of this Lease and shall be applied to the first full monthly installment of Rent due hereunder. Tenant agrees to timely pay all Base Rent, Additional Rent, defined below, and all other sums of money which become due and payable by Tenant to Landlord hereunder (collectively “Rent”), without abatement, demand, offset, deduction or counterclaim, except as otherwise expressly provided herein. If Tenant fails to pay part or all of the rent and other charges provided Rent within five (5) days after it is due, Tenant shall also pay (i) interest at the Default Rate, defined below, on the unpaid Rent, plus (ii) a late charge equal to five percent (5%) of the unpaid Rent or the maximum then allowed by law, whichever is less. Landlord may assess a reasonable fee to Tenant for in this leaseany checks made payable to Landlord that are returned unpaid by Tenant’s bank for any reason. If the Term does not begin on the first day of a calendar month and/or end on the last day of a calendar month, the installment of Rent for that partial month shall be prorated. All Rent shall be paid by Tenant in lawful money of the United States on of America and sent to Landlord as follows (or before their specified due dates to Lessor at the address specified in Section 1.8, or pursuant to such other party or at such other place directions as Lessor Landlord may hereafter designate from time to time designate in writing. All rent which is past due shall bear interest at the rate of one percent ): (1%) per month from the date rent is due until paid. If the maximum annual rate of interest permitted if by applicable law shall be less than the rate of interest provided for hereincheck, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition payable to the interest above provided) a late charge order of Fifty Dollars ($50) [**] or two percent (2%) of if by wire, using the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before the application of either the late charge of the above-described interest rate the first time in each calendar year during the term of this lease that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein providedinstructions set forth below: Bank Name: [**] Routing No.) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee and is in addition to any interest charges on past due rent. : [**] Account No.: [**] For purposes of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income shall be recognized by the parties as and when rent amounts are payable under the terms of this Lease. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled to recognize such expense on the date payment is made.Credit To: [**]

Rent Payment. Lessee Tenant shall pay to Landlord the Base Rent for the Premises and any additional rent and other charges provided for in this leaseherein, in lawful money without deduction or offset. At the same time as execution of the United States Lease, Tenant shall pay any prepaid rent stated in the Basic Lease Terms. Rent is payable in advance on or before their specified due dates the first day of each month commencing on the Rent Commencement Date. Rent for any partial month during the Lease term shall be prorated to Lessor at reflect the address specified in number of days during the month that Tenant occupies the Premises. Additional rent means amounts determined under Section 1.8, or 19 of this Lease and any other sums payable by Tenant to such other party or at such other place as Lessor may hereafter from time to time designate in writingLandlord under this Lease. All rent which is past Rent not paid when due shall bear interest at the rate of one and one-half percent (11 1/2%) per month from the date rent is due until paid. If month, or if less the maximum annual applicable rate of interest permitted by applicable law shall be less than the rate of interest provided for hereinlaw, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee Landlord may at its option impose a late charge of the greater of $.05 for each $1 of rent or $50 for rent payments made more than ten (10) days late in lieu of interest for the first month of delinquency. Tenant acknowledges that late payment by Lessee Tenant to Lessor Landlord of any rent or other sums due under this Lease will cause Lessor Landlord to incur costs not contemplated by this leaseLease, the exact amount of such costs being extremely difficult and economically impractical impracticable to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before the application of either the late charge of the above-described interest rate the first time in each calendar year during the term of this lease and that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor Landlord will incur by reason of any such late payment by Lessee and is in not a penalty. Neither imposition nor collection nor failure to impose or collect such late charge shall be considered a waiver of any other remedies available for default. In addition to any interest charges on past due rent. For purposes such late charge, an additional charge of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income $75 shall be recognized recoverable by the parties as and when rent amounts are payable under the terms of this Lease. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled to recognize such expense on the date payment is madeLandlord for any returned checks.

Rent Payment. Lessee a. Tenant shall pay rent in the rent amount of thirteen thousand nine hundred fifty-five _ dollars ($13,955.00.) per month (“Base Rent”). b. The amount of Base Rent will increase annually on each anniversary of the Commencement Date by a fixed three percent (3%). c. Base Rent shall be paid in advance of the first day of each calendar month throughout the Term, except the first month of Base Rent shall be paid upon the execution of this Lease. If a partial month exists at the commencement of the Term, Tenant shall pay upon the execution of this Lease one full month’s Base Rent plus the prorated amount for the partial month, as determined by Landlord. d. All other sums payable by Tenant to Landlord under this Lease other than Base Rent shall be deemed “Additional Rent.” Base Rent and other charges Additional Rent may be referred to collectively as “Rent.” e. Additional Rent shall be payable as such sums become due or as demanded by Landlord or as otherwise required under this Lease. f. No monthly billing statement of Rent will be provided for in this lease, by Landlord. g. Rent shall be paid in lawful money of the United States of America, without deduction or offset, prior notice or demand, payable to “Multnomah County,” and delivered by Tenant to Landlord. h. Payment by Tenant or receipt by Landlord of a lesser amount than Rent due shall not be deemed full payment on the account. No endorsement or before their specified due dates statement on any check or payment shall be deemed an accord and satisfaction. Landlord may accept such check or payment without prejudice to Lessor at Landlord’s right to recover the address specified in Section 1.8balance of Rent due, or pursue any other remedies available to such other party Landlord. Payments received shall be credited to the oldest outstanding amount due. i. Rent not paid by Tenant when due or at such other place as Lessor may hereafter from time to time designate in writing. All rent which is past due demanded shall bear interest at the rate of one percent (1%) per month from the date rent is due until paid. If the maximum annual rate of interest permitted by applicable law shall be less than the rate of interest month, provided for herein, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the rate on overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled accounts is subject to ten (10) days prior written notice before the application of either the late charge of the above-described periodic adjustment in writing to reflect Landlord’s then current interest rate charged on overdue accounts. j. In the first time in each calendar year during the term event that any check, draft or other instrument of this lease that Lessee payment delivered by Tenant is late with a payment. Moreoverdishonored for any reason, the late charge shall apply only once to a given late payment (for example, if Lessee failed Tenant agrees to pay rent for a given month until Landlord the fifteenth day sum of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee and is $35 in addition to any interest charges on past due rent. For purposes of the Internal Revenue Codelate fee, including Section 467 thereofand Landlord may, rent expense and rental income shall be recognized at its option, require Tenant to pay all future Rent by the parties cashier’s or certified checks or other methods. k. Except as and when rent amounts are payable under the terms of otherwise provided in this Lease. Notwithstanding , the foregoing, however, if Lessee prepays rent, Lessee shall be entitled obligation to recognize such expense pay Rent and other monies commences on the date payment is madeCommencement Date.

Rent Payment. Lessee shall pay the rent and other charges Rent is payable without offset or deduction of any nature except as specifically provided for in this lease, in lawful money of Lease. In the United States on or before their specified due dates to Lessor at the address specified in Section 1.8, or to such other party or at such other place as Lessor may hereafter from time to time designate in writing. All rent which is past due shall bear interest at the rate of one percent (1%) per month from the date rent is due until paid. If the maximum annual rate of interest permitted by applicable law shall be less than the rate of interest provided for herein, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if event any payment of rent due from Lessee Rent is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written after i) notice before the application of either the late charge of the above-described interest rate (limited to the first time in two (2) events each calendar year during the term of this lease that Lessee is late with a payment. Moreoveryear), the late charge shall apply only once to a given late payment or ii) its due date (for exampleall subsequent events in the same calendar year) for any reason whatsoever, or if Lessee failed to pay rent any Rent payment is by check which is returned for a given month until the fifteenth day of the following monthinsufficient funds, such late rent payment would be subject only to one two percent late charge. The late charge is then in addition to interest payable by Lessee as herein provided.the past due amount Tenant shall pay to Landlord: (a) The parties agree that this a late charge represents a fair and reasonable estimate in an amount equal to five percent (5%) of the costs that Lessor will incur rental then due, in order to compensate Landlord for its administrative and other overhead expenses; plus (b) Default Interest, such interest to accrue continuously on any unpaid balance due to Landlord by reason Tenant during the period commencing thirty (30) days after the rent due date and terminating with the date on which Tenant makes full payment of all amounts owing to Landlord at the time of said payment. Any such late charge or interest payment shall be payable as Additional Rent under this Lease and shall be payable immediately on demand. If any Rent is paid by Lessee a check which is returned for insufficient funds, Tenant shall immediately make the required payment to Landlord in good funds; moreover, Tenant shall also pay to Landlord the amount specified above in this Section 4.4, plus an additional fee of $200.00 to compensate Landlord for its expense and is effort in connection with the dishonored check. If the Tenant fails in two (2) consecutive months to make rental payments within (10) days after due, Landlord, in order to reduce its administrative costs, may require, by giving written notice to Tenant (and in addition to any interest charges charge or remedies), that (i) all future rental payments are to be made on past or before the due rent. For purposes date by cashier’s check or wire transfer and that the delivery of Tenant’s personal or corporate check will no longer constitute a payment of Rent as provided in this Lease; and (ii) that any late payment will be subject to late charge of ten percent (10%) of the Internal Revenue Codeamount due, including instead of the five percent (5%) provided above. Any acceptance of a Rent payment or of a personal or corporate check thereafter by Landlord shall not be construed as a subsequent waiver of said rights. Unless specifically provided otherwise, Tenant must pay Additional Rent within thirty (30) days after Tenant's receipt of an invoice from Landlord. The late charges and interest due under this Section 467 thereof, rent expense and rental income shall be recognized by the parties as and when rent amounts are payable 4.4 does not diminish Landlord’s rights under the terms Article 22. Landlord agrees to accept prepaid Rent in January of this Leaseeach calendar year for that calendar year. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled Landlord agrees to recognize such expense on the date payment is madeaccept Rent via wire transfer to Landlord’s financial institution.

Rent Payment. Lessee Tenant shall pay to Landlord the Base Rent for the Premises and any additional rent provided herein, without deduction or offset. At the same time as execution of the Lease, Tenant shall pay the rent and other charges provided Base Rent for in this lease, in lawful money the first full month of the United States Lease term for which rent is payable. Rent is payable in advance on or before their specified due dates the first day of each month commencing on the commencement date of this Lease. Rent for any partial month during the Lease term shall be prorated to Lessor at reflect the address specified in number of days during the month that Tenant occupies the Premises. Additional rent means amounts determined under Section 1.8, or 19 of this Lease and any other sums payable by Tenant to such other party or at such other place as Lessor may hereafter from time to time designate in writingLandlord under this Lease. All rent which is past Rent not paid when due shall bear interest at the rate of one one-and-one-half percent (1%) per month from the date rent is due until paid. If month, or if less the maximum annual applicable rate of interest permitted by applicable law shall be less than the rate of interest provided for hereinlaw, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee Landlord may at its option impose a late charge of the greater of $.05 for each $1 of rent or $50 for rent payments made more than ten (10) days late in lieu of interest for the first month of delinquency. Tenant acknowledges that late payment by Lessee Tenant to Lessor Landlord of any rent or other sums due under this Lease will cause Lessor Landlord to incur costs not contemplated by this leaseLease, the exact amount of such costs being extremely difficult and economically impractical impracticable to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before the application of either the late charge of the above-described interest rate the first time in each calendar year during the term of this lease and that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor Landlord will incur by reason of any such late payment by Lessee and is in not a penalty. Neither imposition or collection nor failure to impose or collect such late charge shall be considered a waiver of any other remedies available for default. In addition to any interest charges on past due rent. For purposes such late charge, an additional charge of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income $75 shall be recognized recoverable by the parties as and when rent amounts are payable under the terms of this Lease. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled to recognize such expense on the date payment is madeLandlord for any returned checks.

Rent Payment. Lessee The Base Rent shall pay be payable in equal monthly installments, due on the rent and other charges provided for in this leasefirst day of each calendar month commencing as of the Rent Commencement Date, in lawful money advance, in legal tender of the United States of America, without abatement, demand, deduction or offset whatsoever, except as may be expressly provided in this Lease. One full monthly installment of Base Rent shall be due and payable on the date of execution of this Lease by Tenant and shall be applied to the first full calendar month’s Base Rent payable hereunder after the Rent Commencement Date (unless returned to Tenant in accordance with Section 55(a)(ii) below following Tenant’s exercise of its Termination Option), and a like monthly installment of Base Rent shall be due and payable on or before their specified the first day of each calendar month thereafter (subject to the provisions of Section 5(b) above) during the Term. Tenant shall pay, as additional Rent, all other sums due dates from Tenant under this Lease (the term “Rent”, as used herein, means all Base Rent, all amounts payable pursuant to Lessor at the address specified Section 7 below, and all other amounts payable hereunder from Tenant to Landlord including, without limitation, Storage Rent (defined in Section 1.811(c) below), if applicable). Unless otherwise specified herein, all items of Rent (other than Base Rent and amounts payable pursuant to Section 7 below) shall be due and payable by Tenant on or to such other party or at such other place as Lessor may hereafter from time to time designate in writing. All rent which is past due shall bear interest at the rate of one percent (1%) per month from before the date rent that is due until paid. If the maximum annual rate of interest permitted by applicable law shall be less than the rate of interest provided for herein, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before after billing by Landlord. Rent shall be made payable to the application of either entity, and sent to the late charge address, Landlord designates (initially set forth in Paragraph 6 of the above-described interest rate the first time in each calendar year during the term of this lease that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.Basic Lease Provisions) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee and is in addition to any interest charges on past due rent. For purposes of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income shall be recognized made by the parties as good and when rent amounts are payable under the terms of this Lease. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled sufficient check or by other means acceptable to recognize such expense on the date payment is madeLandlord.

Rent Payment. Lessee shall pay The following is added at the rent and other charges provided for in this lease, in lawful money end of Section 3 of the United States on or before their specified due dates to Lessor at the address specified in Section 1.8, or to such other party or at such other place as Lessor may hereafter from time to time designate in writing. All rent which is past due shall bear interest at the rate of one percent Lease: (1%) per month from the date rent is due until paid. If the maximum annual rate of interest permitted by applicable law shall be less than the rate of interest provided for herein, then all past due payments of rent shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if any payment of rent due from Lessee is not received by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge of Fifty Dollars ($50) or two percent (2%) of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before the application of either the late charge of the above-described interest rate the first time in each calendar year during the term of this lease that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.a) The parties agree that this late charge represents Tenant may, at its option, prepay Base Rent (the “Rent Prepayment”) in an amount equal to the outstanding principal balance and accrued interest under Landlord’s Promissory Note dated July 6, 2021, payable to the order of Xxxxx Land Management, LLC in the original principal amount of $175,000.00 (the ‘‘Note”) which is secured by a fair and reasonable estimate Deed of Trust recorded in Book Tl540, page 232 in the Loudon County Register’s Office (the “Deed of Trust”). In the event that Tenant elects to make such Rent Prepayment, Landlord shall deliver to Tenant written confirmation of the costs principal balance, accrued interest and any other amounts due under the Note. Upon receipt of such Rent Prepayment, Landlord shall immediately pay the outstanding balance of principal, accrued interest and other amounts due under the Note and shall cause the Deed of Trust and any other collateral for the Note to be released of record. In addition, Tenant shall receive credit against the next monthly payments of Base Rent due under the Lease in an amount equal to the Rent Prepayment discounted against such Base Rent at a 4% discount. (b) Until such time as the Note is paid in full and the Deed of Trust is released of record, Landlord shall provide to Tenant satisfactory confirmation of Landlord ‘s payment of monthly installments due under the Note. In the event that Lessor will incur Landlord fails to make one or more payments due on the Note, Tenant may, at its option, make such payments on behalf of Landlord. Any such payments made by reason of late payment by Lessee and is in addition to any interest charges on past due rent. For purposes of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income Tenant shall be recognized by credited against the parties as and when rent amounts are payable next monthly payments of Base Rents due under the terms of this Lease at a 4% discount. XXX 0000/XXXXX Xxxxxxxxxxxxxx/Xxxxxx County 10870-000 Second Amendment to Ground Lease. Notwithstanding the foregoing, however, if Lessee prepays rent, Lessee shall be entitled to recognize such expense on the date payment is made.

Rent Payment. Lessee Tenant shall timely pay to Landlord Rent (as defined in the rent Basic Lease Information), including the Electricity Charge and other charges the amounts set forth in Exhibit C hereto, without notice, demand, deduction or set-off (except as otherwise expressly provided for in this leaseherein), in lawful to the extent not prohibited by applicable Laws, by automatic withdrawal via electronic money of transfer using the United States on or before their specified due dates to Lessor at the address specified in Section 1.8Automated Clearing House (ACH) system, or other similar system, to an account provided to Tenant by Landlord in writing, or as otherwise specified by Landlord upon reasonable prior notice. Xxxxxx agrees to complete such other party or at such other place instructions as Lessor Landlord may hereafter reasonably designate in writing from time to time designate upon reasonable prior notice in order to establish the automatic withdrawal. Landlord shall execute and deliver to Tenant any forms reasonably required by Tenant in order to process such payments, including any Automated Clearing House forms and Form W-9. Tenant is responsible for all charges, fines, penalties and other costs associated with any account withdraws retuned or not completed due to insufficient funds in Tenant’s account or Xxxxxx’s account being closed. In the event applicable Laws do not permit Landlord to require that Tenant make its payments via electronic money transfer and Tenant chooses not to do so, Tenant shall pay the Rent and all other charges specified in this Lease to Landlord at the address set forth in the Basic Lease Information, or to another person and at another address as Landlord from time to time upon reasonable prior notice designates in writing. All rent which is past due shall bear interest at the rate of one percent (1%) per month from the date rent is due until paid. If the maximum annual rate of interest permitted by applicable law shall be less than the rate of interest provided for Except as otherwise expressly set forth herein, then all past due payments the foregoing covenants of rent Tenant are independent covenants and Tenant shall bear interest at the maximum rate permitted by applicable law from due date until paid. Lessee acknowledges that late payment by Lessee have no right to Lessor of rent will cause Lessor to incur costs not contemplated by this lease, the exact amount of such costs being extremely difficult and economically impractical to ascertain. Therefore, if withhold or xxxxx any payment of rent Base Rent or Additional Rent, or to set off any amount against the Base Rent or Additional Rent then due from Lessee is not received and payable, or to terminate this Lease, because of any breach or alleged breach by Lessor within 10 days after the due date, Lessee shall pay to Lessor (in addition to the interest above provided) a late charge Landlord of Fifty Dollars ($50) this Lease or two percent (2%) because of the overdue rent, whichever shall be greater. Notwithstanding the foregoing, however, Lessee shall be entitled to ten (10) days prior written notice before the application of either the late charge condition of the above-described interest rate Premises. Tenant hereby acknowledges and agrees that it has been represented by counsel of its choice and has participated fully in the first time in each calendar year during the term of this lease that Lessee is late with a payment. Moreover, the late charge shall apply only once to a given late payment (for example, if Lessee failed to pay rent for a given month until the fifteenth day of the following month, such late rent payment would be subject only to one two percent late charge. The late charge is in addition to interest payable by Lessee as herein provided.) The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee and is in addition to any interest charges on past due rent. For purposes of the Internal Revenue Code, including Section 467 thereof, rent expense and rental income shall be recognized by the parties as and when rent amounts are payable under the terms negotiation of this Lease. Notwithstanding , that Tenant understands that the foregoingremedies available to Tenant in the event of a default by Landlord may be more limited than those that would otherwise be available to Tenant under the common law in the absence of certain provisions of this Lease, howeverand that the so-called “dependent covenants” rule as developed under the common law (including, if Lessee prepays rentwithout limitation, Lessee the statement of such rule as set forth in the Restatement (Second) of Property, Section 7.1) shall be entitled not apply to recognize such expense on this Lease or to the date payment is maderelationship of landlord and tenant created hereunder.