Common use of Interest and Late Charges Clause in Contracts

Interest and Late Charges. If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at lesser of (i) two percent (2%) in excess of the ·’prime” or “reference” or “base” rate of interest announced as such, from time to time, by the XX Xxxxxx Xxxxx (“Prime”) and (ii) the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including, without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest (as described above in this Section 6), if any such installment is not received by Landlord within five (5) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent ( I 0%) of such delinquent installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Xxxxxx. Acceptance of any interest or late charge shall not constitute a waiver of Tenant’s default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

Interest and Late Charges. If Tenant fails Lessee shall fail to pay when due and payable any Rent rent or other amounts or charges which Tenant Lessee is obligated to pay under the terms of this Lease, the such unpaid amounts shall bear interest at lesser the rate of (i) two eighteen percent (218%) in excess of the ·’prime” per annum or “reference” or “base” rate of interest announced as such, from time to time, by the XX Xxxxxx Xxxxx (“Prime”) and (ii) the maximum rate then allowed by lawin the state where the Premises are located, whichever is greater. Tenant In addition to such interest, Lessee acknowledges that the late payment of any Monthly Installment monthly installment of Base Rent will or Adjusted Base Rent may cause Landlord Lessor to lose the use of that money and incur costs and expenses not contemplated under this Lease, including, without limitation, including but not limited to administrative and collection costs and costs, processing and accounting expenses, and late charges which may be imposed on Lessor by any Ground Lease, Mortgage or Trust Deed encumbering the property, the exact amount of 5 6 which is extremely difficult to ascertainfix. Therefore, in addition to interest (as described above in this Section 6), if any such installment is not received by Landlord Lessor within five fifteen (515) days from the date it such installment is due, Tenant Lessee shall pay Landlord Lessor a late charge equal to ten percent ( I 0(10%) of such delinquent installment. Landlord Lessor and Tenant Lessee agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord Lessor for the loss suffered from by such nonpayment by XxxxxxLessee. Acceptance of any interest or late charge shall not constitute a waiver of Tenant’s Lessee's default with respect to such nonpayment by Tenant Lessee nor prevent Landlord Lessor from exercising any other rights or remedies available to Landlord Lessor under this Lease.

Interest and Late Charges. If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at lesser of (iI) two percent (22.0%) in excess of the ·’"prime” " or “"reference” " or “"base” " rate of interest announced as such, from time to time, by the XX Xxxxxx Xxxxx First National Bank of Chicago (“"Prime”") and (ii) the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including, without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest (as described above in this Section 6), if any such installment is not received by Landlord within five ten (510) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent ( I 0(10%) of such delinquent installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by XxxxxxTenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant’s 's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

Interest and Late Charges. If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at lesser of (i) two percent (22.0%) in excess of the ·’"prime” " or “"reference” " or “"base” " rate of interest announced as such, from time to time, by the XX Xxxxxx Xxxxx First National Bank of Chicago (“"Prime”") and (ii) the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including, without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest (as described above in this Section 6), if any such installment is not received by Landlord within five ten (510) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent ( I 0(10%) of such delinquent installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by XxxxxxTenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant’s 's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

Interest and Late Charges. If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall will bear interest at lesser from the date due (defined as the first (1st) day of (ieach calendar month of the Lease term) two of the rate of eighteen percent (218%) in excess of the ·’prime” or “reference” or “base” rate of interest announced as such, from time per annum but not to time, by the XX Xxxxxx Xxxxx (“Prime”) and (ii) exceed the maximum rate then allowed permitted by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest (as described above in this Section 6)interest, if any such installment is not received by Landlord within five (5) days from the date it is dueof its due date, Tenant shall pay Landlord a late charge equal to ten percent ( I 0%) of such delinquent installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by XxxxxxTenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant’s 's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease. In addition to this late charge, Tenant shall pay to Landlord $50.00 for each check of Tenant which is returned to Landlord because of non-sufficient funds.