INTEREST ON RENT IN DEFAULT. Without waiving any other rights of action of the Corporation in the event of default of payment of rent hereunder, in the event that the Lessee is delinquent after the date above appointed in making the payments required hereunder, the Lessee shall pay interest thereon at the rate of 2% per month retroactive from the date any such amount is due and payable until paid. In order to reflect prevailing interest rates, the Corporation may review and adjust the interest rate from time to time.
Appears in 4 contracts
Samples: Hornepayne Community Arena Canteen Rental Agreement, Hornepayne Community Arena Canteen Rental Agreement, Hornepayne Community Arena Canteen Rental Agreement
