Late Charge definition

Late Charge shall have the meaning set forth in Section 13.09 hereof.

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Late Charge means the lesser of five percent (5%) of the payment due or the maximum amount permitted by the law of the state where the Equipment is located.

Late Charge is imposed for the purpose of defraying the expenses of a Lender incident to handling such defaulting payment. This charge shall be in addition to, and not in lieu of, any other remedy Lenders may have and is in addition to any fees and charges of any agents or attorneys which Administrative Agent or Lenders may employ upon the occurrence of a Default, whether authorized herein or by Law.

Examples of Late Charge in a sentence

The acceptance by Landlord of any Late Charge under this Section 4.3 shall not: (y) be deemed to constitute a waiver by Landlord of Tenant’s default with respect to the overdue amount, or (z) prevent Landlord from exercising any of the other rights and remedies available to Landlord hereunder or under any Laws.
Landlord and Tenant agree that if a Late Charge Delinquency shall occur, Tenant shall pay to Landlord upon demand: interest on all such delinquent amounts at the Default Rate from the date such amounts are first delinquent until the date the same are paid (“Late Charge”); provided Tenant shall not owe any interest with respect to the first late payment in any calendar year, so long as Tenant pays the applicable late amount within [***] after the applicable due date.

More Definitions of Late Charge

Late Charge means the amount due and payable as a late charge on overdue payments under the Note, as provided in Section 7 of the Note and Section 2.8 of the Loan Agreement.

Late Charge means the lesser of (i) five percent (5%) of any unpaid amount and (ii) the maximum late charge permitted to be charged under the laws of the State of New York.

Late Charge has the meaning provided in Section 2.4.

Late Charge. As such term is defined in Section 4.6. Laws: Collectively, all federal, state and local laws, statutes, codes, ordinances, orders, rules and regulations, including judicial opinions or precedential authority in the applicable jurisdiction.

Late Charge has the meaning set forth in Section 2.2 hereof.

Late Charge shall have the meaning specified in paragraph 2(e)(i)(B) of Part I of this Section 12.1.

Late Charge has the meaning given to such term in the FFB Note.