Common use of AGGREGATE RENT Clause in Contracts

AGGREGATE RENT. (A) Tenant shall pay the Aggregate Rent to Landlord at Landlord’s address set forth above, or at such other place as Landlord may designate from time to time, without notice or demand therefor, and without any abatement, deduction, diminution or set-off, except as otherwise set forth herein, punctually in advance on the Rent Commencement Date, and on the first day of each calendar month thereafter throughout the Lease Term, unless otherwise specifically set forth herein. If mailed, the Aggregate Rent and all other payments under this Lease shall be mailed in sufficient time and with adequate postage thereon to be actually received by Landlord not later than the due date. A pro rata monthly installment of the Aggregate Rent shall be due for the first month of the Lease Term if the Rent Commencement Date is a day other than the first day of a calendar month, and for the last month of the Lease Term if the Lease Term for any reason terminates on a day other than the last day of a calendar month. (B) The late payment by Tenant to Landlord of Aggregate Rent or any other sums due hereunder shall cause Landlord to incur costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, without limitation, processing, clerical and accounting charges, lost interest and late charges which may be imposed on Landlord by the terms of a Mortgage. If Aggregate Rent is not received within five (5) business days from the date such Aggregate Rent is due, Tenant shall pay Landlord a late charge equal to the greater of (i) five percent (5%) of such payment of Aggregate Rent, or (ii) One Hundred Fifty and No/100 ($150.00) Dollars. Payment of such late charge shall not excuse or waive the late payment of Aggregate Rent. (C) If Landlord receives a dishonored check from Tenant, all subsequent Aggregate Rent checks shall be bank certified and Landlord shall not be required to accept checks except in such form. Tenant shall pay Landlord any bank service charges resulting from dishonored checks, plus Fifty and No/100 ($50.00) Dollars for each such dishonored check, as compensation to Landlord for its additional processing costs.