Rent Arrears Sample Clauses

Rent Arrears. With respect to any rent arrears arising under the Lease, Buyer shall pay to Seller any rent actually collected that is applicable to the period preceding the Closing Date, less reasonable collection charges; provided, however, that it is hereby understood and agreed that all rent collected by Buyer shall be applied first to unpaid rent accruing after the Closing Date, and then, only after all such past due rent has been collected, to unpaid rent accruing prior to the Closing Date.
AutoNDA by SimpleDocs
Rent Arrears. 3.1 The Tenant shall pay interest at the rate of 4% above the base lending rate of Barclays Bank Plc upon any Rent or other monies due under this Agreement which is more than 14 days in arrears in respect of the date from when it became due to the date of payment.
Rent Arrears. Any rent not paid on the due date shall, without prejudice to any of the rights of the Landlord arising from such breach, bear interest at the prime rate of interest charged by the Hongkong Bank of Canada on commercial loans to its most credit worthy customers in Canada plus five (5%) percent per annum from such due date until paid.
Rent Arrears. RENT ARREARS" for the purpose of this Paragraph shall mean Rentals (other than Percentage Rent) more than thirty (30) days past due plus Rentals (other than Percentage Rent) which are less than thirty (30) days past due if owed by a tenant which is more than thirty (30) days delinquent in the payment of Rentals applicable to the immediately prior month. With respect to any Rent Arrears arising under the Leases, Buyer shall pay to Seller on a Lease by Lease basis within the time described below any Rentals (other than Percentage Rent) actually collected that is applicable to the period preceding the Closing Date, less reasonable collection charges; provided, however, that it is hereby understood and agreed that any Rent Arrears collected by Buyer shall be applied first to unpaid Rentals accruing under the subject Lease after the Closing Date, and then, only after all such past due Rentals have been collected, to unpaid Rentals accruing under the subject Lease prior to the Closing Date; further provided, however, that with respect to delinquent Estimated Tenant Charges (as defined below), if any, under the subject Lease, in no event shall Seller receive payment in excess of the Shortfall (as defined below). Any sums owed to Seller pursuant to the foregoing shall be paid by Xxxxx to Seller by the tenth (10th) day of the first calendar month following the month in which payment is received by Buyer. Buyer shall deliver to Seller by the tenth (10th) day of the first full calendar month after the Closing Date and every month thereafter, a statement of the collection status of each Rent Arrears until the sooner of (i) collection of all Xxxx Xxxxxxx and (ii) six (6) months after the Closing Date. If any Rent Arrears remain six (6) months after the Closing Date, Buyer shall deliver to Seller, within a reasonable time after request by Seller, a statement of the collection status of any remaining Rent Arrears.
Rent Arrears. As to prior rent arrears, Purchaser shall receive the first rents from tenants in arrears as a trust fund for prompt remission to Seller in payment of such tenant's arrears. However, if a court of competent jurisdiction shall have finally determined that any tenant in arrears is entitled to a rent abatement with respect to any portion of prior rent arrears, the payment due to Seller pursuant to the immediately preceding sentence shall be appropriately adjusted. The provisions of this Article shall survive the Closing.
Rent Arrears. With respect to any arrears for periods of more than one (1) month (not including the month in which the Closing occurs), Seller shall assign or transfer such arrears to Buyer against Buyer's agreement to use reasonable diligence to collect such amounts on behalf of Seller and to pay such arrears to Seller as and when collected, less reasonable collection charges (including, without limitation, reasonable attorneys' fees) not in excess of the local prevailing rates (which collection charges shall be prorated against other amounts collected by Buyer from such tenant). The provisions of this paragraph shall survive the Closing.
Rent Arrears. Option 2 In the event of the tenant failing to make full rental payments on time we will contact them in writing on the following basis:
AutoNDA by SimpleDocs
Rent Arrears. If the rent remains due for more than 14 days from the due date, interest will be charged on any amounts of rent due and in arrears at the rate of 3% above the Bank of England annual base rate calculated on a day to day basis from the date the same shall become due until payment in full is made and recover the interest as though it were rent.
Rent Arrears. If there are any arrears in rent and additional rent as to the Lease as of the Closing Date, rent and additional rent received after the Closing Date shall be applied first to any rent and additional rent owed for the month of the Closing to be allocated amongst the Purchaser and the Seller pro-rata based upon the number of days of ownership applicable to each party; second to any other rent and additional rent due and owing Purchaser from and after the Closing Date; and third to pay any other delinquent rent and additional rent owed to the Seller for its period of ownership. To the extent either party after the Closing Date receives any rent and additional rent due to the other party, as provided herein, such party shall hold any such rent and additional rent in trust for the other party and shall promptly remit to the proper party. Neither party shall have any obligation to collect past due rent, but each party shall use commercially reasonable efforts to do so, without any obligation on the part of the Purchaser to file a lawsuit to collect any such past due rent and additional rent. The provisions contained herein shall survive the Closing.
Rent Arrears. All arrears of rent and any monies payable by the Tenant hereunder shall bear interest at the rate of the Landlord's Canadian Banker's prime rate of interest plus two per cent (2%) per annum from the time such sums become due until they are paid to the Landlord.
Time is Money Join Law Insider Premium to draft better contracts faster.