Late Charge Amount definition
Examples of Late Charge Amount in a sentence
Therefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the "Late Charge Amount," and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid.
Therefore, if any installment of Base Monthly Rent or any Additional Rent is not received by Landlord from Tenant within ten (10) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge equal to the Late Charge Amount (as defined in Paragraph 1.1).
Therefor, if any installment of Base Monthly Rent is not received by Landlord from Tenant within ten calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the "Late Charge Amount," and if any Additional Rent is not received by Landlord within ten calendar days after same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid.
Notwithstanding the foregoing, Landlord will waive the Late Charge Amount (a) with respect to the first two (2) late payments of Rent in any calendar year up to three (3) times during the initial Lease Term, and (b) with respect to one (1) additional late payment of Rent during the Extension Period, if applicable, in each case only if such installment of Rent is received by Landlord within three (3) business days after Tenant’s receipt of a late notice from Landlord.
Notwithstanding the above, once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Base Monthly Rent or Additional Rent from Landlord, and Tenant shall not be liable for any Late Charge Amount, interest or other late charge hereunder if such installment of Base Monthly Rent or Additional Rent is received by Landlord within five (5) days after Tenant’s receipt of such notice from Landlord.