Common use of RENT DUE DATE Clause in Contracts

RENT DUE DATE. 1. The monthly rent including all taxes, fees, ancillary costs, value added tax, etc. is due for payment in advance on the first of every month with a five-day grace period - independent of any assessment by the Landlord - and shall be paid to the account designated by the Landlord free of charges or deductions in such a way that the rent is received no later than on the due date. 2. The Tenant shall bear the risk for the timeliness of the rent payment. 3. Communications from the Tenant on payment receipts have no legal consequences. The Tenant acknowledges that such communications cannot be deemed to have been tacitly taken note of by the Landlord. 4. In the event that the Tenant is in arrears with the rent or other monetary claims of the Landlord arising out of this Lease Agreement, interest on arrears at the rate of 5% above the current base interest rate of the European Central Bank as agreed upon shall apply; however, the Landlord reserves the right to charge higher interest on arrears from the title of the payment of damages.