Common use of Default Interests Clause in Contracts

Default Interests. (1) If the Lessee fails to pay the monthly rent, maintenance fee hereunder and the taxes and public imposts set forth in Article 8 below, or to perform any of its payment obligations set forth in this Agreement within the prescribed time period, the Lessee shall pay to the Lessor default interests accrued thereon at the rate of 18% per year for the period of default until the date of actual payment. In the event that Lessor applies the Security Deposit toward the payment of an unpaid amount as set forth in Article 3(5) above, the payment shall be deemed to be made on the date on which the Lessee actually makes up the deducted portion from the Security Deposit. (2) The amount paid under the Lessee's payment obligation shall be applied in the following order: default interests, parking fee, maintenance fee, monthly rent and the Security Deposit. (3) If the Lessor fails to refund the Security Deposit or to perform any of its payment obligations set forth herein within the prescribed time period, the Lessor shall pay to the Lessee default interests accrued thereon at the rate of 18% per year for the period of default until the date of actual payment or refund. (4) The default interest set forth in this Agreement shall accrue on the Security Deposit, the monthly rent, the maintenance fee, parking fee, damages for delay in vacation of the leased premises, damages for early termination, or any other payment obligation, irrespective of whether this Agreement is terminated under Article 20 herein or expired, until such unpaid amount has been fully paid.

Default Interests. (1) If the Lessee fails to pay the monthly rent, maintenance fee hereunder and the taxes and public imposts set forth in Article 8 below, or to perform any of its payment obligations set forth in this Agreement within the prescribed time period, the Lessee shall pay to the Lessor default interests accrued thereon at the rate of 18% per year for the period of default until the date of actual payment. In the event that Lessor applies the Security Deposit toward the payment of an unpaid amount as set forth in Article 3(5) above, the payment shall be deemed to be made on the date on which the Lessee actually makes up the deducted portion from the Security Deposit. (2) The amount paid under the Lessee's ’s payment obligation shall be applied in the following order: default interests, parking fee, maintenance fee, monthly rent and the Security Deposit. (3) If the Lessor fails to refund the Security Deposit or to perform any of its payment obligations set forth herein within the prescribed time period, the Lessor shall pay to the Lessee default interests accrued thereon at the rate of 18% per year for the period of default until the date of actual payment or refund. (4) The default interest set forth in this Agreement shall accrue on the Security Deposit, the monthly rent, the maintenance fee, parking fee, damages for delay in vacation of the leased premises, damages for early termination, or any other payment obligation, irrespective of whether this Agreement is terminated under Article 20 17 herein or expired, until such unpaid amount has been fully paid.

Default Interests. (1) If the Lessee fails to pay the monthly rent, maintenance fee hereunder and the taxes and public imposts set forth in Article 8 below, or to perform any of its payment obligations set forth in this Agreement within the prescribed time period, the Lessee shall pay to the Lessor default interests accrued thereon at the rate of 18% per year for the period of default until the date of actual payment. In the event that Lessor applies the Security Deposit toward the payment of an unpaid amount as set forth in Article 3(5) above, the payment shall be deemed to be made on the date on which the Lessee actually makes up the deducted portion from the Security Deposit. (2) The amount paid under the Lessee's payment obligation shall be applied in the following order: default interests, parking fee, maintenance fee, monthly rent and the Security Deposit. (3) If the Lessor fails to refund the Security Deposit or to perform any of its payment obligations set forth herein within the prescribed time period, the Lessor shall pay to the Lessee default interests accrued thereon at the rate of 18% per year for the period of default until the date of actual payment or refund. (4) The default interest set forth in this Agreement shall accrue on the Security Deposit, the monthly rent, the maintenance fee, parking fee, damages for delay in vacation of the leased premises, damages for early termination, or any other payment obligation, irrespective of whether this Agreement is terminated under Article 20 17 herein or expired, until such unpaid amount has been fully paid.