LATE PAYMENTS; ADDITIONAL RENT Sample Clauses

LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rent, additional rent or other charges is not paid within five (5) business days of the date such payment is due and payable, then Sublessee shall pay to Sublessor a late charge of five percent (5%) of the amount of such payment. In addition, if Sublessee shall fail to make any such payment within thirty (30) days after the due date, such payment shall bear interest at the rate per annum which is two percent (2%) higher than the "prime rate" then being charged by The First National Bank of Boston from the date such payment became due to the date of payment thereof by Sublessee; provided, however, that nothing contained herein shall be construed as permitting Sublessor to charge or receive interest in excess of the maximum legal rate then allowed by law. Such late charge and interest shall constitute additional rent due and payable hereunder with the next installment of Base Rent due hereunder.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rent, Additional Rent or other charges is not paid on or before the date such payment is due and payable more than once within any twelve (12) month period, and if as a result Sublessor is obligated to pay to Prime Lessor the late charges or interest specified in Section 16.07 of the Prime Lease or any other late charge or penalty, then Sublessee shall pay to Sublessor a late charge of five percent (5%) greater than any late charge, fee or payment that Prime Lessor charges to Sublessor. In addition, if Sublessee shall fail to make any such payment within five (5) days after the due date (or any such xxxxxxx xxxxx period that may be provided under the Prime Lease for the failure to pay any amounts), such payment shall bear interest at the rate per annum which is two percent (2%) more than the rate that Prime Lessor may charge Sublessor under Section 16.07 of the Prime Lease, provided, however, that nothing contained herein shall be construed as permitting Sublessor to charge or receive interest in excess of the maximum legal rate than allowed by law. Such late charge and interest shall constitute Additional Rent due and payable hereunder with the next installment of Base Rent due hereunder.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rent is not received by Landlord by the tenth day after the due date then, in such event, as a late charge and as other additional rent hereunder, Tenant shall pay to Landlord, together with such installment or payment an amount equal to five percent of the installment of Rent that was not paid when due (the "LATE PAYMENT PENALTY"). If any installment of Rent is not received by Landlord by the thirtieth day after Tenant's receipt of a default notice from Landlord (the "INTEREST GRACE PERIOD END DATE") then, in such event, as other additional rent, Tenant shall pay to Landlord, together with such installment or payment and Late Payment Penalty, interest on the unpaid installment or payment at the Involuntary Rate, computed from the Interest Grace Period End Date through the date that the installment or payment is received by Landlord; provided, however, if Landlord sends two such default notices to Tenant during the Lease Term, thereafter interest shall accrue on any unpaid installment of Rent at the Involuntary Rate from the due date of such installment until the date such installment is paid to Landlord. Tenant shall not be required, however, to pay interest at a rate prohibited by applicable law.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Base Rent, Additional Rent or other charges is not paid on or before the date such payment is due and payable, and if as a result Sublessor is obligated to pay to Prime Lessor the late charges or interest specified in the second paragraph of Section (A) of Article V of the Prime Lease or any other late charge or penalty, then Sublessee shall pay to Sublessor a late charge of five percent (5%) greater than any late charge, fee or payment that Prime Lessor charges to Sublessor; provided that no such late charge shall be incurred with respect to the first delinquent payment in any twelve (12) month period, so long as: (a) in the case of the first three (3) occurrences of any such delinquency that occurs in the first six (6) months of the Sublease Term, Sublessee has paid such amount due within ten (10) days of receipt of written notice from Sublessor of Sublessee’s failure to pay such amount when due, or (b) in the case of any fourth (4th) delinquency during the first six (6) months of the term or any such delinquency occurring any time after the first six (6) months of the Sublease Term, Sublessee has paid such amount due within three (3) days of receipt of written notice from Sublessor of Sublessee’s failure to pay such amount when due and further provided, that, in any case, if Prime Lessor actually assesses such late charges to Sublessor pursuant to the second paragraph of Section (A) of Article V of the Prime Lease, then Sublessee shall be obligated to pay the late charge that Sublessee is required to pay under this Section 6.2 even if Sublessee makes such late payment within the applicable period. In addition, if Sublessee shall fail to make any such payment within five (5) days after the due date (or any such xxxxxxx xxxxx period that may be provided under the Prime Lease for the failure to pay any amounts), such payment shall bear interest at the rate per annum which is two percent (2%) more than the rate that Prime Lessor may charge Sublessor under second paragraph of Section (A) of Article V of the Prime Lease. Nothing in this Section 6.2, however, shall be construed as permitting Sublessor to charge or receive interest in excess of the maximum legal rate than allowed by law. Such late charge and interest shall constitute Additional Rent due and payable hereunder with the next installment of Base Rent due hereunder.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rent, additional rent or other charges is not paid on or before the date such payment is due and payable, then Sublessee shall pay to Sublessor a late charge equal to one and one-half times the amount of the late charge payment that would be payable to Prime Lessor on account of a similar default under the Prime Lease (provided that no such late charge payment shall be payable if (a) Sublessee has not previously received notice of a similar late payment more than two times and (b) Sublessee makes such payment within five (5) days of notice that the same is late). In addition, if Sublessee shall fail to make any such payment within ten (10) days after the due date, such payment shall bear interest at the rate per annum which is the sum of three percent (3%) per annum plus the "prime rate" then being charged by Fleet Bank (or any successor thereto) from the date such payment became due to the date of payment thereof by Sublessee; provided, however, that nothing contained herein shall be construed as permitting Sublessor to charge or receive interest in excess of the maximum legal rate then allowed by law. Such late charge and interest shall constitute additional rent due and payable hereunder with the next installment of Fixed Rent due hereunder. Notwithstanding anything herein to the contrary, the Sublessee shall not be deemed to have waived any rights hereunder if it makes any payment hereunder indicating that such payment is made under protest.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rent is not received by Landlord by the tenth day after the due date then, in such event, as a late charge and as other additional rent hereunder, Tenant shall pay to Landlord, together with such installment or payment, the following amounts (collectively, the "Late Payment Penalty"): (i) an amount equal to five percent of the installment of Rent that was not paid when due, and (ii) interest on the unpaid installment or payment at the Involuntary Rate, computed from the due date through the date that the installment or payment is received by Landlord. Tenant shall not be required, however, to pay interest at a rate prohibited by applicable law.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rents, additional rent or other charges is not paid on or before the date such payment is due and payable, and if as a result Sublessor is obligated to pay to Prime Lessor the late charge specified in Section 1 6(A)(d) of the Prime Lease, then Sublessee shall pay to Sublessor a late charge of five percent (5%) of the amount of such payment. In addition, if Sublessee shall fail to make any such payment within thirty (30) days after the due date, such payment shall bear interest at the rate per annum which is two percent (2%) higher than the "prime rate" then being charged by The First National Bank of Boston from the date such payment became due to the date of payment thereof by Sublessee; provided, however, that nothing contained herein shall be construed as permitting Sublessor to charge or receive interest in excess of the maximum legal rate than allowed by law. Such late charge and interest shall constitute additional rent due and payable hereunder with the next installment of Base Rent due hereunder.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rents, additional rent or other charges is not paid on or before the date such payment is due and payable, and if as a result Sublandlord is obligated to pay to Prime Landlord any late charge provided in the Prime Lease, then Subtenant shall pay to Sublandlord a late charge of five percent (5%) of the amount of such payment. In addition, if Subtenant shall fail to make any such payment within three (3) days after the due date, such payment shall bear interest at the rate per annum which is three percent (3%) higher than the “prime rate” then being charged by Fleet National Bank from the date such payment became due to the date of payment thereof by Subtenant; provided, however, that nothing contained herein shall be construed as permitting Sublandlord to charge or receive interest in excess of the maximum legal rate than allowed by law. Such late charge and interest shall constitute additional rent due and payable hereunder with the next installment of Base Rent due hereunder.
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LATE PAYMENTS; ADDITIONAL RENT. If any installment of Rent or ------------------------------ any other payment to be made by Tenant to Landlord under this Lease is not received by Landlord within ten days after the due date or date of demand as the case may be, then in such event, as a late charge and as additional rent hereunder, Tenant shall pay to Landlord (together with such installment or payment) an administrative fee of three percent (3%) of the unpaid installment or payment, plus interest on the unpaid installment or payment at the Involuntary Rate, and computed from the due date or date of demand, as the case may be, through the date that the installment or payment is received by Landlord. Tenant shall not be required, however, to pay interest at a rate in excess of that permitted by applicable law.
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Related to LATE PAYMENTS; ADDITIONAL RENT

  • 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 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.

  • Payment of Additional Rent In addition to the Minimum Annual Rent specified in this Lease, Tenant shall pay to Landlord as "Additional Rent" for the Leased Premises, in each calendar year or partial calendar year, during the Lease Term, an amount equal to the Annual Rental Adjustment excluding Real Estate Taxes for such calendar year or partial calendar year. In the case of the calendar year of the Commencement Date, Landlord shall provide such notice prior to the Commencement Date. The Annual Rental Adjustment excluding Real Estate Taxes shall be estimated annually by Landlord, and written notice thereof shall be given to Tenant prior to the beginning of each calendar year. Tenant shall pay to Landlord each month, at the same time the Monthly Rental Installment is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment excluding Real Estate Taxes. If the cost of utility, janitorial or other services increase during a calendar year, Landlord may increase the estimated Annual Rental Adjustment excluding Real Estate Taxes during such year by giving Tenant written notice to that effect, and thereafter Tenant shall pay to Landlord, in each of the remaining months of such year, an amount equal to the amount of such increase in the estimated Annual Rental Adjustment excluding Real Estate Taxes for the remainder of the year divided by the number of months remaining in such year. Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Annual Rental Adjustment excluding Real Estate Taxes. Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall credit against the next rent payment or payments due from Tenant, as the case may be, the difference between the actual Annual Rental Adjustment excluding Real Estate Taxes for the preceding calendar year and the estimated amount paid by Tenant to Landlord during such year. In addition, Tenant shall pay, before delinquency, any and all Real Estate Taxes as defined in Section 3.02.D, above, directly to the appropriate taxing authority. If Tenant fails for any reason to pay the Real Estate Taxes when same is due and payable, Landlord shall have the right, but not the obligation, to pay the Real Estate Taxes directly to the taxing authority and Tenant shall immediately reimburse Landlord for the cost thereof. Such amount shall accrue interest from the date Landlord pays such amount, pursuant to Section 3.04, below, shall include any penalties, late fees and any interest assessed due to such delinquency. Tenant or its accountants shall have the right to inspect, at reasonable time and in a reasonable manner, during the one hundred twenty (120) day period following the delivery of Landlord's statement of the actual amount of the Annual Rental Adjustment excluding Real Estate Taxes, such of Landlord's books of account and records as pertain to and contain information concerning such costs and expenses for the Building for the prior calendar year in order to verify the amounts thereof. In the event the first audit discloses (i) errors made during the prior calendar year which, when totaled, indicate that the sum overcharged to and paid by Tenant, exceeds five percent (5%) of the Annual Rental Adjustment excluding Real Estate Taxes plus Landlord's Share of Operating Expenses (the "Total Expenses"), the audit shall be at the expense of Landlord, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), or (ii) no errors or an error which equals or is less than five percent (5%) of the Total Expenses, the audit shall be at the expense of Tenant. For each subsequent audit, where the audit discloses errors exceeding five percent (5%) of the Total Expenses, Landlord shall pay for such audit and, if the audit discloses errors equal to or less than five percent (5%) of the Total Expenses, Tenant shall pay the costs of the audit. If Landlord spends more than eight (8) hours to accommodate Tenant's right to audit hereunder, Tenant shall also pay to Landlord as additional rent Seventy-five Dollars ($75.00) per hour for each additional hour that Tenant's audit takes of Landlord's property manager's or asset manager's time, provided such audit discloses no error or an error greater than five percent (5%) of the Total Expenses. The results of the audit (regardless of the degree of the error, if any) shall be binding upon Landlord and Tenant, and Landlord shall thereafter, if appropriate, change its method of calculating the Operating Expenses consistent with the results of the audit. Tenant agrees to hold the information obtained from such audit confidential and shall not disclose the same without Landlord's express written permission except as necessary to enforce the Lease or protect Tenant's rights hereunder. If Tenant shall not elect to cause an audit within the time period permitted hereby, then Landlord's statement shall be conclusively deemed to have been approved and accepted by Tenant. Pending resolution of any dispute with respect to statements of Tenant's Annual Rental Adjustment, Tenant shall pay its Annual Rental Adjustment as shown on such statement, and upon final determination of the amount of Tenant's Annual Rental Adjustment, Landlord shall promptly refund any overpayment to Tenant or Tenant shall promptly pay any amount due to Landlord, as applicable.

  • Additional Rent Any monetary obligations of Lessee to Lessor under the terms of this Lease shall be deemed to be rent.

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Additional Rental Lessee shall pay and discharge, as additional rental (“Additional Rental”), all sums of money required to be paid by Lessee under this Lease which are not specifically referred to as Rental. Lessee shall pay and discharge any Additional Rental when the same shall become due, provided that amounts which are billed to Lessor or any third party, but not to Lessee, shall be paid within fifteen (15) days after Lessor’s demand for payment thereof or, if later, when the same are due. In no event shall Lessee be required to pay to Lessor any item of Additional Rental that Lessee is obligated to pay and has paid to any third party pursuant to any provision of this Lease.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on October 22, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Base Rent 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

  • Fixed Rent Tenant agrees to pay to Landlord, on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1/12th) of the Annual Fixed Rent specified in Section 1.1 hereof. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Boston Properties Limited Partnership, as agent of Landlord. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as agent as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Rent Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.

  • Late Payment of Rent If any installment of Base Rent or Additional Charges (but only as to those Additional Charges which are payable directly to Lessor or Lessor’s agent or assignee) shall not be paid within five (5) Business Days after its due date, Tenant will pay to Lessor on demand a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is the lesser) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Tenant pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due. If any Facility Mortgagee shall so require, or if any Additional Charges shall not be paid to a third party payee within five (5) Business Days after its due date, Lessor may at any time thereafter, at Lessor’s option, require Tenant to deposit into an escrow account under the sole dominion and control of Lessor (or the applicable Facility Mortgagee), on the first day of each and every month, an amount sufficient to insure that such escrow account shall contain an amount sufficient to make such payment on its next due date, in which event Lessor shall make all future payments for such expense from the escrow account. In the event of any failure by Tenant to pay any Additional Charges when due, Tenant shall promptly pay and discharge, as Additional Charges, every fine, penalty, interest and cost that may be added for non-payment or late payment of such items. Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of Rent.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

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