Additional Rent and Address for Payment Sample Clauses
Additional Rent and Address for Payment. In addition to Fixed Minimum Rent and Percentage Rent, all other payments due and payable by Tenant hereunder, including, but not limited to, Tenant's proportionate share of "Operating Costs" (as hereinafter defined), are known as "Additional Rent" and such sums shall be due and payable on demand, together with interest thereon as provided below. Fixed Minimum Rent, Percentage Rent and Additional Rent are herein sometimes referred to as "Rent". Should Tenant fail to make any payment of Rent, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the rate which is the lesser of eighteen percent (18%) per annum or the maximum interest rate permitted by law. Tenant also shall pay as Additional Rent a fee of Two Hundred Dollars ($200.00) for processing of late payments. Notwithstanding the foregoing provisions to the contrary, Landlord agrees that, with respect to the first two (2) late payments of Rent made within a Lease Year, the foregoing interest and late fee shall not be imposed unless Tenant shall fail to pay such payment of Rent within ten (10) days after written notice of such default is given by Landlord to Tenant. Rent shall be due at the address specified by Landlord for notices hereunder, or at such other address designated in writing by Landlord.