Past Due Rent definition

Past Due Rent shall have the meaning set forth in Section 2.2(a).

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Past Due Rent as defined in the definition “U.S. Rent Reserve”.

Past Due Rent means all rents for the Property past due;

Examples of Past Due Rent in a sentence

Subsequent to the Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs and expenses together with any Past Due Rent actually collected by the Buyer less all fees and expenses incurred by the Buyer in collecting such monies.
If any Past Due Rent is not paid to Seller within sixty (60) days after Closing, Seller shall have the right to attempt to effect collection by litigation or otherwise so long as Seller does not take any action to terminate the tenant’s lease or right to possession.
Subsequent to the Core Portfolio Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs and expenses together with any Past Due Rent actually collected by the Buyer less all fees and expenses incurred by the Buyer in collecting such monies.
Subsequent to the HUD Portfolio Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs together with any Past Due Rent actually collected by the Buyer less any fees and expenses incurred by the Buyer in collecting such monies.
Buyer shall cooperate with Seller in its efforts to collect Past Due Rent but shall not be required to incur any cost with respect to such cooperation or take any action against any tenant to terminate the tenant’s lease or right to possession.
Notwithstanding anything contained herein, in the event Subtenant does not exercise both of its renewal options under the Sublease, Guarantor’s obligation for the Past Due Rent that would otherwise be payable following the expiration of the term of the Sublease (unless the term of the Sublease terminates early due to a default by Subtenant, in which event Interest/Penalties would be due) shall not exceed the amounts set forth in paragraph 4(b) of the Sublease.
Therefore, if any installment of Past Due Rent shall be subject to pay to City an additional sum of five percent (5%) of the Past Due Rent as a late charge.
Any Past Due Rent shall bear interest thereon from the Due Date until paid, at the rate of 10% per annum.
Tenant and Landlord hereby agree that the Abated Rent shall be applied against and thereby reduce, as of the date of this Amendment, the amount of Pre-Amendment Past Due Rent (as defined in Paragraph 5 below).
In addition to the Rent, Subtenant shall pay to Landlord the Past Due Rent (without including Interest/Penalties) in thirty-six (36) equal monthly installments, commencing upon the Commencement Date, of $31,057.33 per month.

More Definitions of Past Due Rent

Past Due Rent shall have the meaning set forth in Section 11.02(d).

Past Due Rent. Holdover: Effectiveness of this Amendment. Notwithstanding anything to the contrary contained in the Sublease or this Amendment, Sublessee hereby acknowledges and agrees that it has not made various payments of rent that were payable to Sublessor and are now past due in the aggregate sum of Twenty Two Thousand Ninety-Five and 04/100 Dollars ($22,095.04) (the "Past Due Amount"), and Sublessee hereby agrees that it shall pay the entire Past Due Amount, in addition to all other rental payable hereunder as set forth in Section 2 above, on or before September 15, 1999 (the "Outside Date"). Sublessee further agrees that notwithstanding anything to the contrary contained in the Sublease or herein, if Sublessee fails to pay the Past Due Amount to Sublessor in immediately available funds on or before the Outside Date, then, at Sublessor's sole election, the extension of the term set forth in Section 1 shall be null and void and of no force or effect and Sublessee shall be considered to have a subtenancy at sufferance which may be terminable by Sublessor at any time in its sole discretion subject to all the terms contained in the Sublease, except that the minimum rent payable hereunder shall be equal to 200% of the last applicable monthly minimum rent, which shall not be prorated for any partial month. Acceptance of such rent shall not constitute a waiver by Sublessor of any re-entry or any rights of Sublessor nor shall it be deemed an extension or renewal of the Sublease term without a written election thereof by Sublessor. In addition, Sublessee shall be liable for all damages incurred by Sublessor as a result of such holdover.

Past Due Rent. If Lessee shall fail to pay any rents, additional rents or other charges characterized herein as additiona1 rent when the same become due and payable, such unpaid amounts shal1 bear interest from the due date thereof to the date of payment at the rata of five percent (5%} until paid. The provisions herein for late payment service charges shall not be construed to extend the dates for payment of any sums required to be paid by Lessee hereunder or to relieve Lessee of its obligation to pay all such sums at the time or times herein stipulated. Notwithstanding the imposition of any charges pursuant to this section, Lessee shall be in default under this Lease if any or all payments required to be made by Lessee are not made at the time therein stipulated and neither the demand nor collection by Lessor of such late payment service charges shall be construed as a cure for such default on the part of the Lessee. Lessor permits a ten (10) day grace period.