INTEREST ON LATE PAYMENTS; LATE CHARGE. Tenant hereby acknowledges that the late payment by Tenant to Landlord of any amount payable under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. All amounts payable under this Lease by Tenant to Landlord, if not paid when due (after any applicable cure periods set forth in this Lease), will bear interest from the date thirty (30) days after the due date until paid at the lesser of the highest interest rate permitted by law or 5% in excess of the then-current Prime Rate. Landlord, at Landlord's option, in addition to past due interest, may charge Tenant a late charge for all payments more than five (5) days past due (after any applicable cure periods set forth in this Lease), equal to 3% of the amount of said late payment. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.
INTEREST ON LATE PAYMENTS; LATE CHARGE. All amounts payable under this Lease by Tenant to Landlord, if not paid when due, will bear interest from the due date until paid at the lesser of the highest interest rate permitted by law or 5% in excess of the then-current Prime Rate. Landlord, at Landlord's option, in addition to past due interest, may charge Tenant a late charge for all payments more than five (5) days past due, equal to the greater of 5% of the amount of said late payment or the maximum amount permitted by law.
INTEREST ON LATE PAYMENTS; LATE CHARGE. Although each failure to pay monies when due is an Event of Default, to encourage prompt payment and to cover the costs involved in processing late payments, if any payment under this Agreement or any other agreement between us and you for your Healthy Bites Grill Franchise is overdue for any reason, you must pay to us, on demand, in addition to the overdue amount, any insufficient funds (NSF) charges we incur and interest on the overdue amount from the date it was due until paid equal to the lesser of: (i) 18% per annum; or (ii) the maximum rate of interest permitted by law. You must also pay a late charge of $100 for each payment that is overdue. If we owe you money, we will pay the same interest and late charge, if we pay you late.
INTEREST ON LATE PAYMENTS; LATE CHARGE. If any Base Rent or Additional Rent is not paid on the due date thereof: (i) such overdue amounts shall bear interest at a rate equal to three (3) percentage points above the prime rate of interest stated from time to time by Seattle-First National Bank or its successor, or, in the absence of an established prime rate, five (5) percentage points over that bank's rate for one year certificates of deposit, but not in excess of the highest lawful rate permitted under applicable laws, calculated from the original due date thereof to the date of payment; and (ii) Tenant shall pay Landlord a late charge equal to five percent (5%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, the exact amount of which would be difficult to ascertain. Acceptance by Landlord of any partial amounts due under this Section 4 shall in no event constitute a waiver of Tenant's default with respect to any overdue amount, nor prevent Landlord from exercising any of its other rights and remedies granted under this Lease or by law or in equity.
INTEREST ON LATE PAYMENTS; LATE CHARGE. If any Base Rent or Additional Rent is not paid on the due date thereof: (i) such overdue amounts shall bear interest at a rate equal to eighteen percent (18%) per annum; and (ii) Tenant shall pay Landlord a late charge equal to five percent (5%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, the exact amount of which would be difficult to ascertain. Acceptance by Landlord of any partial amounts due under this Section 4 shall in no event constitute a waiver of Tenant's default with respect to any overdue amount, nor prevent Landlord from exercising any of its other rights and remedies granted under this Lease or by law or in equity.
INTEREST ON LATE PAYMENTS; LATE CHARGE. Although each failure to pay monies when due will be a material breach of this Agreement, to encourage prompt payment and to cover the costs involved in processing late payments, if any payment under this Agreement or any other agreement between the Franchisor and the Master Franchisee is overdue for any reason, the party owing the monies must pay to the party owed the monies, on demand, in addition to the overdue amount, interest on such overdue amount from the date it was due until paid equal to the lesser of: (seq level3 \*romani) 18% per annum; or (seq level3 \*romanii) the maximum rate of interest permitted by law. In addition to interest on overdue amounts, the party owing the monies shall pay a late charge on demand of U.S.$500 for each payment which is more than 10 days overdue to cover the party owed the monies costs in dealing with the late payment. Interest on late payments and the late charge will be based upon the appropriate "buying" foreign exchange rate on the date that is most favorable to the party owed the monies between the date payment first became due and the date such payment is actually made. Nothing in this Agreement shall be construed to mean that either party is to pay, or has contracted to pay, any sum in excess of that which may lawfully be charged or contracted for under any applicable law. The intention of the parties is to conform strictly to applicable usury laws and it is agreed that if an excess is inadvertently collected it shall be applied to reduce the amounts owed.
INTEREST ON LATE PAYMENTS; LATE CHARGE. If all or any portion of any installment of Fixed Annual Rent, or of any other amount due to Landlord hereunder, shall not be paid within five (5) Business Days after the same shall become due hereunder, then, in addition to, and without waiving or releasing, any other rights and remedies of Landlord, interest on such installment or other amount, or portion thereof, shall be due at the Default Interest Rate until paid in full. In addition, if all or any portion of any installment of Fixed Annual Rent, or any other amount due to Landlord hereunder, shall not be paid within five (5) Business Days after the same shall become due hereunder, an amount (the “Late Charge”) equal to five percent (5%) of the amount of such unpaid installment other amount, or portion thereof, shall be paid by Tenant to Landlord for its cost and inconvenience incurred as a result of Tenant’s delinquency. Tenant acknowledges that the damages to and costs incurred by Landlord resulting from Tenant’s late payment of Fixed Annual Rent or any other amount due to Landlord hereunder would be difficult, if not impossible, to ascertain with any accuracy, and that the five percent (5%) charge represents Landlord and Tenant’s efforts to approximate such potential damages and costs. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the Fixed Annual Rent or any other amount due to Landlord hereunder shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance or pursue any other remedy in this Lease or at law.
INTEREST ON LATE PAYMENTS; LATE CHARGE. If any payment of Rent (including. without limitation, all Minimum Rent and all Additional Rent) or any part thereof to be made by Tenant to Landlord pursuant to the terms of this Lease shall become overdue, Tenant shall pay Landlord interest on the unpaid portion thereof from the date such payment or part thereof was due until payment thereof to Landlord, at the Lease interest Rate. Nothing herein or in the imposition or acceptance of such interest by Landlord shall be construed as a waiver of any rights of Landlord arising out of any Default of Tenant; the right to collect interest is separate and apart from any rights or remedies of Landlord relating to any Default by Tenant. In addition to the foregoing and not in lieu thereof, if Minimum Rent is not paid within three (3) business days after Tenants receipt of Landlord’s notice to Tenant that it is due and unpaid, then Tenant shall also pay a late charge equal to the greater of (i) 2% of such late Minimum Rent or (ii) any late charge actually imposed on Landlord by Landlord’s mortgagee by reason of Tenant’s late payment. Any late charge paid by Tenant hereunder shall be credited against interest owing under the first sentence of this Section 4.7.
INTEREST ON LATE PAYMENTS; LATE CHARGE. All amounts payable under this Lease by Tenant to Landlord, if not paid within five (5) days of when due, will bear interest from the due date until paid at the lesser of the highest interest rate permitted by law or 5% in excess of the then-current prime rate of interests (the “Prime Rate”) announced from time to time by the Wall Street Journal, or any successor to it, as the prime rate. If the Wall Street Journal or any successor to it ceases to announce a prime rate, Landlord will designate a reasonably comparable publication for purposes of determining the Prime Rate. Landlord, at Landlord’s option, in addition to past due interest, may charge Tenant a late charge for all payments more than five (5) days past due, equal to the lesser of 10% of the amount of said late payment or the maximum amount permitted by law.
INTEREST ON LATE PAYMENTS; LATE CHARGE. Tenant hereby acknowledges that the late payment by Tenant to Landlord of any amount payable under this Lease will cause Landlord to incur costs not otherwise contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. All amounts payable under this Lease by Tenant to Landlord, if not paid within five days after the date due, will bear interest from the due date until paid at the lesser of the highest interest rate permitted by law or 5% in excess of the then-current Prime Rate. Landlord, at Landlord’s option, in addition to past due interest, may charge Tenant a late charge for all payments more than seven days past due, equal to the lesser of 3% of the amount of said late payment or the maximum amount permitted by law; provided, however, that on not more than two occasions during any calendar year during the Term, Landlord shall give Tenant notice of such late payment and Tenant shall have a period of five business days thereafter in which to make such payment before any late charge is assessed. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord will in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.
