Common use of Default Period Clause in Contracts

Default Period. In a case where the Lessee has neglected to submit rent payment for a number of days, the Lessor will be entitled to assess a penalty amount. Record the number of days after the missed due date the Lessor shall wait before adding an owed penalty amount to the original rent amount the Lessee owns. (25) Nonpayment Penalty. The penalty payment the Lessor will add to the unpaid rent amount in default should be identified in this lease. This can be set to be calculated as a per annum percentage that is added for every day the rent is overdue or as a flat fee charged for every day the rent is overdue by selecting the appropriate checkbox statement then documenting either the percentage rate the Lessor will use or the flat fee dollar amount. Only one of these statements may be applied and considered valid if the information it requests is presented. 18. Miscellaneous Terms (26)

Default Period. In a case where the Lessee has neglected to submit rent payment for a number of days, the Lessor will be entitled to assess a penalty amount. Record the number of days after the missed due date the Lessor shall wait before adding an owed penalty amount to the original rent amount the Lessee owns. (25) Nonpayment Penalty. The penalty payment the Lessor will add to the unpaid rent amount in default should be identified in this lease. This can be set to be calculated as a per annum percentage that is added for every day the rent is overdue or as a flat fee charged for every day the rent is overdue by selecting the appropriate checkbox statement then documenting either the percentage rate the Lessor will use or the flat fee dollar amount. Only one of these statements may be applied and considered valid if the information it requests is presented. 18. Miscellaneous Terms (26).

Default Period. In a case where the Lessee has neglected to submit send the rent payment for a number of days, the Lessor will be entitled to assess a penalty amount. Record Register the number of days after the missed due expiration date the Lessor shall will have to wait before adding an owed a penalty amount due to the original rent amount the Lessee owns. (25) Nonpayment PenaltyPen of non-payment. The payment of the penalty payment the Lessor will add to the unpaid rent unpaidthe default amount in default should be identified in this lease. This can be set to be calculated as a per annum percentage that of a year which is added for every each day the rent is overdue late or as a flat fee charged for every each day the rent is overdue by late selecting the appropriate statement of the checkbox statement then documenting either both the percentage rate that the Lessor will use or the dollar amount to flat fee dollar amountpayment. Only one of these statements may can be applied and considered valid if the requested information it requests is presented. 18. Miscellaneous Terms (26)is

Default Period. In a case where the Lessee has neglected to submit rent payment for a number of days, the Lessor will be entitled to assess a penalty amount. Record the number of days after the missed due date the Lessor shall wait before adding an owed penalty amount to the original rent amount the Lessee owns. (25) Nonpayment Penalty. The penalty payment the Lessor will add to the unpaid rent amount in default should be identified in this lease. This can be set to be calculated as a per annum percentage that is added for every day the rent is overdue or as a flat fee charged for every day the rent is overdue by selecting the appropriate checkbox statement then documenting either the percentage rate the Lessor will use or the flat fee dollar amount. Only one of these statements may be applied and considered valid if the information it requests is presented. 18. Miscellaneous Terms (26)rate