Common use of Late Payment Rent Clause in Contracts

Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to 6% of the overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. Notwithstanding the foregoing, no such late charge or interest on overdue Rent shall be payable on the first such failure to pay Rent in any 12 month period unless Landlord shall have given Tenant notice of such failure to pay Rent and Tenant fails to pay such Rent within 5 days of such notice.

Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to `ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to of 6% of the overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. Notwithstanding the foregoing, no such late charge or nor interest on overdue Rent shall be payable due on the first second such failure to pay Rent in any 12 month period unless until 5 days after Landlord shall have has given Tenant notice of and an opportunity to cure any such failure to pay Rent and Tenant fails has failed so to pay Rent. Any such Rent within 5 days notice shall be in lieu of such notice.and not in addition to any notice required by law;

Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to 6% of the overdue Rent as a late charge. Notwithstanding the foregoing, before assessing a late charge Net Laboratory 7010 Kit Creek/Foundation Medicine - Page 17 the first time in any calendar year, Landlord shall provide Tenant written notice of the delinquency and will waive the right if Tenant pays such delinquency within 5 days thereafter. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. Notwithstanding the foregoing, no such late charge or interest on overdue Rent shall be payable on the first such failure to pay Rent in any 12 month period unless Landlord shall have given Tenant notice of such failure to pay Rent and Tenant fails to pay such Rent within 5 days of such notice.

Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ‘ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to of 6% of the overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. Notwithstanding the foregoing, no such late charge or nor interest on overdue Rent shall be payable due on the first second such failure to pay Rent in any 12 month period unless until 5 days after Landlord shall have has given Tenant notice of and an opportunity to cure any such failure to pay Rent and Tenant fails has failed so to pay Rent. Any such Rent within 5 days notice shall be in lieu of such notice.and not in addition to any notice required by law;

Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to of 6% of the overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate lesser of (i) 12% per annum or (ii) the maximum rate permitted by law from the 5th day after the date due until paid. Notwithstanding the foregoing, no such late charge or nor interest on overdue Rent shall be payable due on the first two such failure failures to pay Rent in any 12 month period unless until 5 days after Landlord shall have has given Tenant notice of and an opportunity to cure any such failure to pay Rent and Tenant fails has failed so to pay Rent. Any such Rent within 5 days notice shall be in lieu of such notice.and not in addition to any notice required by law;

Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage mortgage or trust deed covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to of 6% of the overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. Notwithstanding the foregoing, no such late charge or nor interest on overdue Rent shall be payable due on the first such failure to pay Rent in any 12 month period unless until 5 days after Landlord shall have has given Tenant notice of such failure to pay Rent and Tenant fails has failed so to pay such Rent within such 5 days day period. Any such notice shall be in lieu of such noticeand not in addition to any notice required by law.