Common use of A Late Fee Clause in Contracts

A Late Fee. If the Rent is not paid within [#] days of the Due Date, the Landlord will charge a penalty in the following manner: (check one) ☐ - Flat Fee. The late fee shall be equal to $[AMOUNT] and applied each ☐ occurrence ☐ day until the Rent is paid in full.

A Late Fee. If the Rent is not paid within [#] days of the Due Date, the Landlord will charge a penalty in the following manner: (check one) ☐ - Flat Fee. The late fee shall be equal to $[AMOUNT] $ and applied each ☐ occurrence ☐ day until the Rent is paid in full.

A Late Fee. If the Rent is not paid within [#] [#] days of the Due Date, the Landlord will charge a penalty in the following manner: (check one) ☐ - – Flat Fee. The late fee shall be equal to $[AMOUNT] [AMOUNT] and applied each ☐ occurrence ☐ day until the Rent is paid in full. ☐ – Based on Interest. The late fee shall be equal to the Rent Due with interest accumulating at a rate of [#]% per annum and applied each ☐ occurrence ☐ day until the Rent is paid in full. All late payments made related to Rent shall be first applied to the late fee and all remaining amounts toward the outstanding Rent amounts. 8.