Common use of Charged A Late Fee Clause in Contracts

Charged A Late Fee. If the Lender will charge the Borrower a penalty fee for late payment, then mark the checkbox labeled “Charged A Late Fee” and, on the space provided, furnish the amount of money this penalty consists of or detail how the late fee will be calculated. (17)

Charged A Late Fee. If the Lender will charge the Borrower a penalty fee for late payment, then mark the checkbox labeled “Charged A Late Fee” and, on the space provided, furnish the amount of money this penalty consists of or detail how the late fee will be calculated. (17).