Common use of When Due and Payable Clause in Contracts

When Due and Payable. 2.2.1. The Lease Compensation shall be due and payable as shown on Exhibit 2. 2.2.2. Each such payment shall be made promptly when due, without any deduction or set off whatsoever, and without demand. Any such payment which is less than the amount of Compensation then due shall constitute a payment made on account thereof, the parties hereto hereby agreeing that the Landlord’s acceptance of such payment (whether or not with or accompanied by an endorsement or statement that such lesser amount or the Landlord’s acceptance thereof constitutes payment in full of the amount of Compensation then due) shall not alter or impair the Landlord’s rights hereunder to be paid all of such amount then due, or in any other respect.