Common use of Overdue Interest Clause in Contracts

Overdue Interest. If BLC Holdings fails to pay and contribute any Brookdale Rent Payment to the applicable Brookdale Lessee(s) and to cause such funds to be paid by the applicable Brookdale Lessee(s) to the applicable Provident Lessor(s) on or before the date such payment is due and payable and such amount remains unpaid for a period of five (5) Business Days, such past due payment shall bear interest at the Overdue Rate; provided, however, that with respect to any other sums or amounts to be paid and contributed by BLC Holdings hereunder, the Overdue Rate shall apply if such amounts remain unpaid for a period of five (5) Business Days after Notice thereof from PSLT-BLC Holdings is received by BLC Holdings (calculated from the date of such receipt). The amount of any interest due under this Paragraph 4(c) shall not be diminished by BLC Holdings' making a partial payment, except in such circumstances where BLC Holdings provides evidence reasonably satisfactory to PSLT-BLC Holdings that the payment rendered was intended as a full payment, and that the shortfall was due to a good faith mistake. Notwithstanding anything to the contrary contained in this Paragraph 4(c), in no event shall BLC Holdings have any obligation to pay interest to PSLT-BLC Holdings on any overdue amounts (including, without limitation, on the Master Rent) to the extent any Brookdale Lessee has paid interest on such overdue amount under the applicable Property Lease, and, to the extent PSLT-BLC Holdings and any Provident Lessor each collect interest on the same overdue amount, PSLT-BLC Holdings shall promptly refund such interest payment to BLC Holdings.

Overdue Interest. If BLC SCT Holdings fails to pay and contribute any Brookdale Rent Payment to the applicable Brookdale Lessee(s) SCT Lessee the funds required to pay any SCT Rent Payment and to cause such funds to be paid by the applicable Brookdale SCT Lessee(s) to the applicable Provident Ventas Lessor(s) on or before the date such payment is due and payable and such amount remains unpaid for a period of five (5) Business Days, such past due payment shall bear interest at the Overdue RateRate from the date first due and payable until the date paid; provided, however, that that, with respect to any other sums or amounts to be paid and contributed by BLC SCT Holdings hereunder, the Overdue Rate shall apply if such amounts remain unpaid for a period of five (5) Business Days after Notice thereof from PSLT-BLC Holdings VRLP is received by BLC SCT Holdings (calculated from the date of such receipt). The amount of any interest due under this Paragraph 4(c) shall not be diminished by BLC SCT Holdings' ’ making a partial payment, except in such circumstances where BLC SCT Holdings provides evidence reasonably satisfactory to PSLT-BLC Holdings VRLP that the payment rendered was intended as a full payment, and that the shortfall was due to a good faith mistake. Notwithstanding anything to the contrary contained in this Paragraph 4(c), in no event shall BLC SCT Holdings have any obligation to pay interest to PSLT-BLC Holdings VRLP on any overdue amounts (including, without limitation, on the Master Rent) to the extent any Brookdale SCT Lessee has paid interest on such overdue amount under the applicable Property Lease, and, to the extent PSLT-BLC Holdings VRLP and any Provident Ventas Lessor each collect interest on the same overdue amount, PSLT-BLC Holdings VRLP shall promptly refund such interest payment to BLC SCT Holdings.