Common use of Tenant’s Late Payments; Late Charges Clause in Contracts

Tenant’s Late Payments; Late Charges. If Tenant shall fail to make payment of any installment of Fixed Rent or any increase in the Fixed Rent or any additional rent within ten (10) days after the date when such payment is due, Tenant shall pay to Owner, in addition to such installment of Fixed Rent or such increase in the Fixed Rent or such additional rent, as the case may be, as a late charge and as additional rent, a sum equal to three (3%) percent per annum above the then current prime rate (as the term “prime rate” is defined in Section 31.03) charged by JPMorgan Chase Bank or its successor of the amount, as such rate is in effect on the date such unpaid amounts were due, computed from the date such payment was due to and including the date of payment. 

Tenant’s Late Payments; Late Charges. If Tenant shall fail to make payment of any installment of Fixed Rent or any increase in the Fixed Rent or any additional rent within ten (10) days after the date when such payment is due, Tenant shall pay to Owner, in addition to such installment of Fixed Rent or such increase in the Fixed Rent or such additional rent, as the case may be, as a late charge and as additional rent, a sum equal to three (3%) percent per annum above the then current prime rate (as the term “prime rate” is defined in Section 31.03) charged by JPMorgan Chase Bank or its successor of the amount, as such rate is in effect on the date such amount unpaid amounts were due, computed from the date such payment was due to and including the date of payment. .

Tenant’s Late Payments; Late Charges. If Tenant shall fail to make payment of any installment of Fixed Rent or any increase in the Fixed Rent or any additional rent within ten (10) days after the date when such payment is due, Tenant shall pay to Owner, in addition to such installment of Fixed Rent or such increase in the Fixed Rent or such additional rent, as the case may be, as a late charge and as additional rent, a sum equal to three (3%) percent per annum above the then current prime rate (as the term “"prime rate” " is defined in Section 31.03) charged by JPMorgan Chase Bank or its successor of the amount, as such rate is in effect on the date such amount unpaid amounts were due, computed from the date such payment was due to and including the date of payment. .

Tenant’s Late Payments; Late Charges. If Tenant shall fail to make payment of any installment of Fixed Rent or any increase in the Fixed Rent or any additional rent within ten (10) days after the date when such payment is due, Tenant shall pay to Owner, in addition to such installment of Fixed Rent or such increase in the Fixed Rent or such additional rent, as the case may be, as a late charge and as additional rent, a sum equal to three seven (37%) percent per annum above the then current prime rate (as the term “"prime rate” " is defined in Section 31.03) charged by JPMorgan Chase Bank or its successor of the amount, as such rate is in effect on the date such amount unpaid amounts were due, computed from the date such payment was due to and including the date of payment. .