Common use of Interest on Delinquent Payments Clause in Contracts

Interest on Delinquent Payments. If any payment of Rent is not paid within ten (10) business days of its due date, Tenant shall pay interest on such delinquent payment, from the original due date of such delinquent payment, and on any late charge from the due date of such late charge, at an interest rate (the “Interest Rate”) equal to the lesser of (a) one and one-half percent (1.5%) per month, or (b) the maximum rate permitted by applicable law, until such amounts are received by Landlord in full. This Section 5.4 shall not relieve Tenant from its obligation to pay Rent at the times and in the manners herein specified. Acceptance by Landlord of interest shall not constitute a waiver of Tenant’s default with respect to said delinquent payment, nor prevent Landlord from exercising any other rights or remedies available to Landlord.

Interest on Delinquent Payments. If any payment of Rent is not paid within ten (10) business days of its due date, Tenant shall pay interest on such delinquent payment, from the original due date of such delinquent payment, and on any late charge from the due date of such late charge, at an interest rate (the “Interest Rate”) equal to the lesser of (a) one and one-half percent (1.5%) per month, or (b) the maximum rate permitted by applicable law, until such amounts are received by Landlord paid in full. This Section 5.4 shall not relieve Tenant from its obligation to pay Rent at the times and in the manners herein specified. Acceptance by Landlord of interest shall not constitute a waiver of Tenant’s default with respect to said delinquent payment, nor prevent Landlord from exercising any other rights or remedies available to Landlord.

Interest on Delinquent Payments. If any payment of or Rent is not paid within ten (10) business days of its due date, Tenant shall pay interest on such delinquent payment, from the original due date of such delinquent payment, and on any late charge from the due date of such late charge, at an interest rate (the “"Interest Rate”") equal to the lesser of (a) one and one-half percent (1.5%) per month, or (b) the maximum rate permitted by applicable law, until such amounts are received by Landlord paid in full. This Section 5.4 shall not relieve Tenant from its obligation to pay Rent at the times and in the manners herein specified. Acceptance by Landlord of interest shall not constitute a waiver of Tenant’s 's default with respect to said delinquent payment, nor prevent Landlord from exercising any other rights or remedies available to Landlord.