Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. The late payment of any Rent will cause Sublessor to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublessor has not received any installment of Rent within five (5) days after that amount is due, Sublease will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sublessor. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("Applicable Interest Rate") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublessor and Sublessee recognize that the damage Sublessor will suffer in the event of Sublessee's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublessor will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublessor to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublessor has not received any installment of Rent within five (5) days after that amount is due, Sublease Sublessee will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sublessor. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("Applicable Interest Rate") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublessor and Sublessee recognize that the damage Sublessor will suffer in the event of Sublessee's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublessor will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublessor Sub-landlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublessor Sub-landlord has not received any installment of Rent within five (5) days after that amount is due, Sublease Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublessorSub-landlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("“Applicable Interest Rate"”) equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublessor Sub-landlord and Sublessee Subtenant recognize that the damage Sublessor Sub-landlord will suffer in the event of Sublessee's Subtenant’s failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublessor Sub-landlord will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublessor Sublandlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublessor Sublandlord has not received any installment of Rent within five ten (510) days after that amount is due, Sublease Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublessorSublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("Applicable Interest Rate") equal to the greater of (a) five two percent (52%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublessor Sublandlord and Sublessee Subtenant recognize that the damage Sublessor Sublandlord will suffer in the event of SublesseeSubtenant's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublessor Sublandlord will suffer. If a late charge becomes payable for any three (3) installments of or Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublessor Sub-Sublandlord to incur additional costs, including the cost to maintain in full force the Master LeaseSublease, administration and collection costs, and processing and accounting expenses. If Sublessor Sub-Sublandlord has not received any installment of Rent within five (5) days after that amount is due, Sublease Sub-Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublessorSub-Sublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("Applicable Interest Rate") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublessor Sub-Sublandlord and Sublessee Sub-Subtenant recognize that the damage Sublessor Sub-Sublandlord will suffer in the event of SublesseeSub-Subtenant's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublessor Sub-Sublandlord will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sublessor Sublandlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sublessor Sublandlord has not received any installment of Rent within five (5) days after that amount is due, Sublease Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by SublessorSublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum ("Applicable Interest RateAPPLICABLE INTEREST RATE") equal to the greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sublessor Sublandlord and Sublessee Subtenant recognize that the damage Sublessor Sublandlord will suffer in the event of SublesseeSubtenant's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sublessor Sublandlord will suffer. If a late charge becomes payable for any three (3) installments of or Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.