Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 15 contracts
Samples: Project Loan Agreement (Acadia Realty Trust), Project Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 13 contracts
Samples: Loan Agreement (AG Mortgage Investment Trust, Inc.), Loan Agreement (Altisource Residential Corp), Loan Agreement (American Homes 4 Rent)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Borrower Security Agreement, the Mortgage Documents and the other Loan Documents to the extent permitted by applicable law.
Appears in 11 contracts
Samples: Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.)
Late Payment Charge. If any principalPrincipal, interest or any other sums sum due under the any Loan Documents (including the amounts due on the Maturity Date) are Document is not paid by Borrower on or prior to the date on which it is duedue other than the payment due on the Maturity Date, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such Such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 9 contracts
Samples: Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (Hines Global REIT, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 9 contracts
Samples: Loan Agreement (TNP Strategic Retail Trust, Inc.), Loan Agreement (Global Income Trust, Inc.), Loan Agreement (Amerco /Nv/)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts payment of principal due on the Maturity Date) are is not paid by Borrower on or prior to Borrowers by the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five (a) four percent (54%) of such unpaid sum or (b) the Maximum Legal Rate maximum amount permitted by applicable law, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 9 contracts
Samples: First Mezzanine Loan Agreement (Hard Rock Hotel Holdings, LLC), Third Mezzanine Loan Agreement (Morgans Hotel Group Co.), Second Mezzanine Loan Agreement (Morgans Hotel Group Co.)
Late Payment Charge. If any principal, payment of interest or and any other sums due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are Date is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 9 contracts
Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (Documents, including the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of (a) five percent (5%) of such unpaid sum or sum, and (b) the Maximum Legal Rate Rate, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Security Instrument and the other Loan Documents to the extent permitted by applicable law.
Appears in 8 contracts
Samples: Loan Agreement (FTE Networks, Inc.), Loan Agreement (FTE Networks, Inc.), Loan Agreement (FTE Networks, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 7 contracts
Samples: Loan Agreement, Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (City Office REIT, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by Borrower Security Agreement, the Mortgage Documents and the other Loan Documents to the extent permitted by applicable law.
Appears in 7 contracts
Samples: Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.), Loan Agreement (American Residential Properties, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts excluding principal due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 7 contracts
Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by Applicable Law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable lawApplicable Law.
Appears in 6 contracts
Samples: Mezzanine D Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine B Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine Loan Agreement (CNL Healthcare Trust, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 5 contracts
Samples: Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Interstate Hotels & Resorts Inc)
Late Payment Charge. If any monthly installment of principal, ------------------- interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Loan Agreement (Capital Automotive Reit), Loan Agreement (Capital Automotive Reit), Loan Agreement (Capital Automotive Reit)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts payment of principal due on the Maturity Date) are is not paid by Borrower on or prior to Borrowers by the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five (a) four percent (54%) of such unpaid sum or (b) the Maximum Legal Rate maximum amount permitted by applicable law, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Loan Agreement (Bref Hr, LLC), Loan Agreement (Morgans Hotel Group Co.), Loan Agreement (Hard Rock Hotel Holdings, LLC)
Late Payment Charge. If any principal, interest or any other sums due under Except for the Loan Documents (including the amounts payment due on the Maturity Date) are , if any principal or interest payment is not paid by Borrower on or prior to before the date on which it same is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Junior Mezzanine Loan Agreement (Maguire Properties Inc), Mezzanine Loan Agreement (Maguire Properties Inc), Mezzanine Loan Agreement (Maguire Properties Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is duedue (other than the principal amount due on the Maturity Date), Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Loan Agreement (MGM Growth Properties Operating Partnership LP), Loan Agreement (VICI Properties L.P.), Loan Agreement (Strategic Hotels & Resorts, Inc)
Late Payment Charge. If any principal, interest or any principal (other sums due under than the Loan Documents (including the amounts due full principal amount payable on the Maturity Date) are or interest payment is not paid by Borrower on or prior to before the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Management Agreement (Ashford Hospitality Trust Inc), Letter Agreement (Ashford Hospitality Trust Inc), Letter Agreement (Ashford Hospitality Trust Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (Documents, including the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower Borrowers on or prior to the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 4 contracts
Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender Agent upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender Agent in handling and processing such delinquent payment and to compensate Lender Lenders for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 3 contracts
Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts balloon payment due on the Maturity Date) are not paid by Borrower on or prior to before the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 3 contracts
Samples: Loan Agreement (Brixmor Property Group Inc.), Senior Mezzanine Loan Agreement (Brixmor Property Group Inc.), Loan Agreement (Brixmor Property Group Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to by the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount late payment charge shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (Maguire Properties Inc), Loan Agreement (Maguire Properties Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on or prior to which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount late payment charge shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum maximum amount permitted by any Legal Rate Requirements, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Security Instruments and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Property Management Agreement (Sunstone Hotel Investors, Inc.), Property Management Agreement (Sunstone Hotel Investors, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts outstanding principal amount due and payable on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (W. P. Carey Inc.), Mezzanine Loan Agreement (Net Lease Office Properties)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to by the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (Maguire Properties Inc), Loan Agreement (Fairchild Corp)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including excluding the amounts principal payment due on the Maturity Date) are is not paid by any Borrower on or prior to the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Ventas Inc), Mezzanine Loan Agreement (Ventas Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is duedue (other than the principal amount due on the Maturity Date), Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (BRE Select Hotels Corp), Loan Agreement (Park Hotels & Resorts Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts outstanding principal balance due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Junior Mezzanine Loan Agreement (Ashford Hospitality Prime, Inc.), Senior Mezzanine Loan Agreement (Ashford Hospitality Prime, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Urban Shopping Centers Inc), Loan Agreement (Urban Shopping Centers Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five (a) four percent (54%) of such unpaid sum or (b) the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Mezzanine a Loan Agreement (Telx Group, Inc.), Mezzanine B Loan Agreement (Telx Group, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of (a) five percent (5%) of such unpaid sum or (b) the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Maguire Properties Inc), Loan Agreement (MPG Office Trust, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender Agent upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender Agent in handling and processing such delinquent payment and to compensate Lender Lenders for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: First Mezzanine Loan Agreement (Clipper Realty Inc.), First Mezzanine Loan Agreement (Clipper Realty Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of (a) five percent (5%) of such unpaid sum or (b) the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Trizec Properties Inc), Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Ramco Gershenson Properties Trust), Loan Agreement (Banyan Strategic Realty Trust)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Second Mezzanine Loan Agreement (Clipper Realty Inc.), First Mezzanine Loan Agreement (Clipper Realty Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is duedue (other than the principal amount due on the Maturity Date), Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (Strategic Hotels & Resorts, Inc), Loan Agreement (Strategic Hotels & Resorts, Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts outstanding principal amount due and payable on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (W. P. Carey Inc.), Loan Agreement (Net Lease Office Properties)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (Inland Real Estate Corp), Loan Agreement (Inland Real Estate Corp)
Late Payment Charge. If any principalPrincipal, interest or any other sums sum due under the any Loan Documents (including the amounts due on the Maturity Date) are Document is not paid by Borrower on or prior to the date on which it is due, subject to any applicable grace or cure period, if any, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such Such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Gladstone Commercial Corp), Loan Agreement
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to before the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Industrial Logistics Properties Trust), Loan Agreement (Industrial Logistics Properties Trust)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts payment of principal due on the Maturity Date) are is not paid by Borrower on or prior to by the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (FelCor Lodging Trust Inc), Loan Agreement (FelCor Lodging Trust Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower Borrowers on or prior to the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Loan Agreement (Generation Income Properties, Inc.), Loan Agreement (Generation Income Properties, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts principal balance of the Loan due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the any Maturity Date) are , is not paid by the Borrower on or prior to the date on which it is when due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts outstanding principal balance due on the Maturity Date) are is not paid by Borrower on or prior to by the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts balloon payment due on the Maturity Date) are not paid by Borrower on or prior to before the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including other than the amounts outstanding principal balance due on the Maturity Date) are is not paid by Borrower on or prior to by the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower the Borrowers on or prior to the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Loan Agreement (Clipper Realty Inc.)
Late Payment Charge. If Unless waived by Lender in writing, if any principalPrincipal, interest or any other sums sum due under the any Loan Documents (including the amounts due on the Maturity Date) are Document is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such Such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.)
Late Payment Charge. If Unless waived by Lender in writing, if any principal, interest or any other sums sum due under the any Loan Documents (including the amounts due on the Maturity Date) are Document is not paid by any Borrower on or prior to the date on which it is due, such Borrower shall pay to Lender Lender, upon demand demand, an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by Applicable Law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such Such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower Borrowers on or prior to the date on which it is duedue and payable, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Global Income Trust, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts balloon payment of principal due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three and one half percent (53.5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (Kindercare Learning Centers Inc /De)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (Documents, including the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum maximum amount permitted by any Legal Rate Requirements, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is duedue (other than the principal amount due on the applicable Maturity Date), Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, upon election of Lender Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Prime Group Realty Trust)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreements and the other security instruments comprising the Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Senior Mezzanine Loan Agreement (Thomas Properties Group Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including but excluding the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum maximum amount permitted by any Legal Rate Requirements, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (Sun Communities Inc)
Late Payment Charge. If any principal, interest or any principal (other sums due under than the Loan Documents (including the amounts due full principal amount payable on the Maturity Date) are or interest payment is not paid by Borrower on or prior to before the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Mortgage Loan Agreement (Ashford Hospitality Trust Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five (a) four percent (54%) of such unpaid sum or (b) the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (Telx Group, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (Documents, including the amounts payment of principal due on the Maturity Date) are , is not paid by any Borrower on or prior to the date on which it is due, such Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage applicable Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Late Payment Charge. If any principalPrincipal, interest or any other sums sum due under the any Loan Documents (including the amounts due on the Maturity Date) are Document is not paid by Borrower Borrowers on or prior to the date on which it is duedue (other than Principal due on the Stated Maturity Date), Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such Such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum maximum amount permitted by any Legal Rate Requirements, in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (American Realty Capital New York City REIT, Inc.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five three percent (53%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Property Management Agreement (Sunstone Hotel Investors, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Pledge Agreement and the other Loan Documents to the extent permitted by applicable law.law.
Appears in 1 contract
Samples: Mezzanine Loan Agreement
Late Payment Charge. If any principalPrincipal, interest (including, without limitation, any Accrued Interest) or any other sums sum due under the any Loan Documents (including the amounts due on the Maturity Date) are Document is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such Such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Junior Mezzanine Loan Agreement (Maguire Properties Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts excluding principal due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Security Instrument and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or and the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law. Notwithstanding the foregoing, such late charge shall not apply to any failure to make the payments set forth in Section 2.3.3 on the Maturity Date.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Loan Agreement (Bluerock Residential Growth REIT, Inc.)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts Outstanding Principal Balance due and payable on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five ten percent (510%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Deed of Trust and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Samples: Loan Agreement (Terra Tech Corp.)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts excluding principal due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (Wells Real Estate Investment Trust Inc)
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower Borrowers on or prior to the date on which it is due, Borrower Borrowers shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract
Samples: Loan Agreement (Wells Real Estate Investment Trust Inc)
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, upon election of Lender Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums Monthly Debt Service Payment Amount due under the Loan Documents (including Documents, excluding the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to by the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage Mortgages and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including other than the amounts principal amount due on the Maturity Date) are is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums due under the Loan Documents (including excluding the amounts outstanding principal balance due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.
Appears in 1 contract
Late Payment Charge. If any principal, interest or any other sums sum due under the Loan Documents (including Documents, other than the amounts payment of principal due on the Maturity Date) are , is not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five four percent (54%) of such unpaid sum or the Maximum Legal Rate maximum amount permitted by applicable law in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable lawDocuments.
Appears in 1 contract