Common use of Interest Charge Clause in Contracts

Interest Charge. Landlord will charge interest at the rate of five dollars ($5.00) per day, or part thereof, on any rental payment that is delinquent by more than five (5) days. Such interest will be in addition to the late charge and the administration fee. Landlord is authorized to apply against Tenant’s security deposit at the conclusion of Tenancy. By way of example, this provides that: • on the tenth day of delinquency, all rents plus $75.00 would be due ($50 late charge plus $5 per day for days six through ten.) • on the sixtieth (60th) day of delinquency, all rents plus $325.00 would be due; et cetera.

Interest Charge. Landlord Owner will charge interest at the rate of five dollars ($5.00) per day, or part thereof, on any rental payment that is delinquent by more than five (5) days. Such interest will be in addition to the late charge and the administration fee. Landlord Owner is authorized to apply against Tenant’s security deposit at the conclusion of Tenancy. By way of example, this provides that: • on the tenth day of delinquency, all rents plus $75.00 would be due ($50 late charge plus $5 per day for days six through ten.) • on the sixtieth (60th) day of delinquency, all rents plus $325.00 would be due; et cetera.

Interest Charge. Landlord will charge interest at the rate of five dollars ($5.00) per day, or part thereof, on any rental payment that is delinquent by more than five (5) days. Such interest will be in addition to the late charge and the administration fee. Landlord Xxxxxxxx is authorized to apply against TenantXxxxxx’s security deposit at the conclusion of Tenancy. By way of example, this provides that: • on the tenth day of delinquency, all rents plus $75.00 would be due ($50 late charge plus $5 per day for days six through ten.) • on the sixtieth (60th) day of delinquency, all rents plus $325.00 would be due; et cetera.