Common use of Late Payment and Administrative Expense Clause in Contracts

Late Payment and Administrative Expense. If Tenant shall fail to pay Base Rent, Additional Rent or other charges when due and payable under this Lease, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the lesser of (a) a rate per annum equal to 3% plus the prime rate of Bank of America, N.A. (or any successor), in effect on the day the payment became due and subject to change thereafter or (b) the maximum rate permitted by applicable law. In addition, if Landlord is required to redeposit any check which is returned for insufficient funds or if Tenant shall fail to pay Base Rent, Additional Rent or other charges on or before the date on which the same become due and payable, then Tenant shall also pay to Landlord an administrative expense charge of 5% of the amount thereof. The provisions of this Section 12.9 shall not be construed to relieve Tenant of the obligation to pay Base Rent, Additional Rent and all other charges when due under this Lease and shall be in addition to and not in limitation of Landlord’s other remedies as provided for in this Lease.

Late Payment and Administrative Expense. If Tenant shall fail to pay Base Rent, Additional Rent or other charges when after the same become due and payable under this Lease, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the lesser of (a) a rate per annum rate equal to three percent (3% %) plus the prime rate of Bank of America, N.A. America (or any successor), ) in effect on the day the payment became due and subject to change thereafter or (b) the maximum rate permitted by applicable lawlaw (“Interest Payment”). In addition, if Landlord is required to redeposit any check which is returned for insufficient funds or if Tenant shall fail to pay Base Rent, Additional Rent or other charges on or before the date on which the same become due and payable, then Tenant shall also pay to Landlord an administrative expense charge (“Administrative Expense”) of 5% five percent (5.0%) of the amount thereofthereof for each calendar month or part thereof after the due date of such payment until such payment is received by Landlord. The provisions of this Section 12.9 herein for Interest Payment and Administrative Expense shall not be construed to relieve Tenant of the obligation to pay Base Rent, Additional Rent and all other charges when due under this Lease and shall be in addition to and not in limitation of Landlord’s other remedies as provided for in this Lease.

Late Payment and Administrative Expense. If Tenant shall fail to pay Base Rent, Additional Rent or other charges when after the same become due and payable under this Lease, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the lesser of (a) a rate per annum rate equal to 3% plus the prime rate of Bank of America, N.A. America (or any successor), ) in effect on the day the payment became due and subject to change thereafter or (b) the maximum rate permitted by applicable lawlaw (“Interest Payment”). In addition, if Landlord is required to redeposit any check which is returned for insufficient funds or if Tenant shall fail to pay Base Rent, Additional Rent or other charges on or before the date on which the same become due and payable, then Tenant shall also pay to Landlord an administrative expense charge (“Administrative Expense”) of 5% of the amount thereofthereof for each calendar month or part thereof after the due date of such payment until such payment is received by Landlord. The provisions of this Section 12.9 herein for Interest Payment and Administrative Expense shall not be construed to relieve Tenant of the obligation to pay Base Rent, Additional Rent and all other charges when due under this Lease and shall be in addition to and not in limitation of Landlord’s other remedies as provided for in this Lease.

Late Payment and Administrative Expense. If Tenant shall fail to pay Base Rent, Additional Rent Insurance Costs, Operating Costs and Taxes or other charges when within fifteen (15) days after the same become due and payable under this Lease, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the lesser of (a) a an annual rate per annum equal to 3% plus the prime rate of announced from time to time by Bank of America, N.A. America (or any successor), in effect on the day the payment became due and subject to change thereafter or (b) the maximum rate permitted by applicable law. In addition, if Landlord is required to redeposit any check which is returned for insufficient funds or if Tenant shall fail to pay Base Rent, Additional Rent or other charges on or before the date on which within fifteen (15) days after the same become due and payable, then Tenant shall also pay to Landlord an administrative expense charge of five percent (5% %) of the amount thereof. The provisions herein for the payment of this Section 12.9 interest and an administrative expense charge shall not be construed to relieve Tenant of the obligation to pay Base Rent, Additional Rent and all other charges when due under this Lease and shall be in addition to and not in limitation of Landlord’s other remedies as provided for in this Lease.

Late Payment and Administrative Expense. If Tenant shall fail to pay Base Rent, Additional Rent or other charges when within ten (10) days after the same become due and payable under this Lease, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the lesser of Applicable Interest Rate (a) a rate per annum equal to 3% plus the prime rate of Bank of America, N.A. (or any successor"Interest Payment"), in effect on the day the payment became due and subject to change thereafter or (b) the maximum rate permitted by applicable law. In addition, if Landlord is required to redeposit any check which is returned for insufficient funds or if Tenant shall fail to pay Base Rent, Additional Rent or other charges Tenant's Share of Taxes, Insurance Costs or Operating Costs on or before the date on which the same become due and payable, then Tenant shall also pay to Landlord an administrative expense charge ("Administrative Expense") of 5% five percent (5.0%) of the amount thereof. The provisions of this Section 12.9 herein for Interest Payment and Administrative Expense shall not be construed to relieve Tenant of the obligation to pay Base Rent, Additional Rent and all other charges when due under this Lease and shall be in addition to and not in limitation of Landlord’s 's other remedies as provided for in this Lease.