Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. Tenant acknowledges and agrees that the late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, processing and accounting expenses, and increased debt service (the “Delinquency Costs”). If Landlord has not received any installment of Rent when due, Tenant shall pay a late charge (the “Late Charge”) equal to ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to ten of five percent (105%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “"Bank”)") as its "Reference Rate". If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord; provided, however, that Landlord shall provide Tenant notice of such delinquent amount one (1) time in any twelve (12) month period and Tenant shall have five (5) days after receipt of such notice to pay such delinquent amount before Landlord shall charge Tenant any such late charge. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of CaliforniaCalifornia ("Bank") (the “Bank”). as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, processing and accounting expenses, and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when due, Tenant shall pay a late charge (the “"Late Charge”") equal to ten twelve percent (1012%) of the delinquent amount. Tenant agrees that the Late Charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “"Reference Rate”") publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “"Bank”"). If the Bank discontinues use of the Reference Rate, then the term “"Reference Rate” " will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, and increased debt service expenses (the “Delinquency Costs”). If Landlord has not received any installment of Rent when within five (5) business days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amountamount immediately. Tenant agrees that the Late Charge The ten percent (10%) late charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (ai) the maximum interest rate permitted by law Law, or (bii) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). ) as its “Reference Rate.” If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant’s failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If Landlord’s acceptance of late Rent, partial Rent and late charges does not equate with a Late Charge becomes payable for waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any two (2) installments rights and remedies available under this Lease and/or by operation of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advanceLaw.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, processing and accounting expenses, expenses and increased debt service (the “Delinquency Costs”"DELINQUENCY COSTS"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay to Landlord (a) for the first such delinquency in any calendar year, a one-time late charge of five percent (5%) of the “Late Charge”delinquent amount, and (b) equal to for the second and any subsequent delinquencies in any calendar year, a one-time late charge of ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents , which amounts are agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance. "APPLICABLE INTEREST RATE" shall mean a rate per annum equal to the lesser of (i) the maximum interest rate permitted by law or (ii) five percent (5%) above the rate publicly announced by Bank of America, N.A. (or if Bank of America, N.A. ceases to exist, the largest bank then headquartered in the State of Colorado) (the "Bank") as its "Reference Rate." If the use of the announced Reference Rate is discontinued by the Bank, then the term Reference Rate shall mean the announced rate charged by the Bank that is, from time to time, substituted for the Reference Rate.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “"Bank”). ") as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it the damage which Landlord shall suffer as a rexxxx xf Tenant's failure to pay such amounts is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge sxxx xxte charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, processing and accounting expenses, and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when due, Tenant shall pay a late charge (the “"Late Charge”") equal to ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “"Reference Rate”") publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “"Bank”"). If the Bank discontinues use of the Reference Rate, then the term “"Reference Rate” " will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause ------------------------ Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within ten (l0) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to ten of five percent (105%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of CaliforniaCalifornia ("Bank") (the “Bank”). as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. payment If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12l2) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. 57 Tenant acknowledges and agrees that the late payment by Tenant to Landlord of any Rent sums due under this Lease will cause Landlord to incur additional costscosts not contemplated by this Lease, including administration the exact amount of such costs being extremely difficult and collection costs, impractical to fix. Such costs include processing and accounting expensescharges, and increased debt service (late charges that may be imposed on Landlord by the “Delinquency Costs”)terms of any encumbrance or note secured by any encumbrance covering the Premises. If Landlord has not received Therefore, if any installment of Monthly Base Rent when dueor any other sum of money due hereunder is not timely paid by Tenant and such failure continues for ten (10) days after notice thereof from Landlord, Tenant shall pay a late charge (to Landlord, as Additional Rent, the “Late Charge”) equal to ten sum of four percent (104%) of the delinquent amount. Tenant agrees that the Late Charge represents overdue amount as a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In additionlate charge; provided, however, Tenant shall pay interest be entitled to such ten (10) day notice and opportunity to cure on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any only two (2) installments of Rent within occasions during any twelve (12) month period. To the extent permitted by applicable law, then such overdue amount shall also bear interest commencing upon the due date, as Additional Rent, at the lesser of the maximum rate than permitted by law and twelve percent (12%) per annum. Landlord's acceptance of any late charge or interest shall not constitute a waiver of Tenant's default with respect to the overdue amount or prevent Landlord from exercising any of the other rights and remedies available to Landlord under this Lease or any law now or hereafter in effect. Notwithstanding anything to the contrary contained herein, in no event shall Tenant be required to pay any amounts that would be characterized as interest under applicable law in excess of the amounts that could be lawfully charged, collected and received by Landlord under applicable law. Landlord and Tenant intend to comply with all Rent will automatically become due and payable quarterly in advanceusury laws with respect to this Lease.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, and increased debt service expenses (the “Delinquency Costs”). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant Lessee shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amountamount immediately. Tenant agrees that the Late Charge The ten percent (10%) late charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (ai) the maximum interest rate permitted by law Law, or (bii) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). ) as its “Reference Rate.” If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree Lessee recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Lessee’s failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If Landlord’s acceptance of late Rent, partial Rent and late charges does not equate with a Late Charge becomes payable for waiver of Lessee’s default with respect to the overdue amount, or prevent Landlord from exercising any two (2) installments rights and remedies available under this Lease and/or by operation of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advanceLaw.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “Delinquency Costs”)service. If Landlord has not received any installment of Rent when duewithin five (5) days after Tenaxx'x xeceipt of written notice of delinquency (the "Delinquency Notice"), Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be costs incurred by Landlord; provided that if during the preceding twelve (12) months Landlord has delivered to Tenant two (2) or more Delinquency Notices, then Tenant shall be obligated to pay the late charge described herein if Tenant fails to pay any installment of Rent within five (5) days after such amount is due, without the need for a Delinquency Notice. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser greater of (a) five percent (5%) per annum plus the then federal discount rate on advances to member banks in effect at the Federal Reserve Bank of San Francisco on the twenty-fifth (25th) day of the month preceding the date of this Lease or (b) ten percent (10%); provided, in no event shall the Applicable Interest Rate exceed the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate which may be charged by the Bank, from time to time instead of the Reference Rateunder such circumstances. Landlord and Tenant agree Tenaxx xxxognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenaxx'x xailure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment by Tenant to Landlord of any Rent sums due under this Lease will cause Landlord to incur additional costscosts not contemplated by this Lease, including administration the exact amount of such costs being extremely difficult and collection costs, impractical to fix. Such costs include processing and accounting expensescharges, and increased debt service (late charges that may be imposed on Landlord by the “Delinquency Costs”)terms of any encumbrance or note secured by any encumbrance covering the Premises. If Landlord has not received Therefore, if any installment of Monthly Base Rent when dueor any other sum of money due hereunder is not timely paid by Tenant and such failure continues for ten (10) days after notice thereof from Landlord, Tenant shall pay a late charge (to Landlord, as Additional Rent, the “Late Charge”) equal to ten sum of four percent (104%) of the delinquent amount. Tenant agrees that the Late Charge represents overdue amount as a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In additionlate charge; provided, however, Tenant shall pay interest be entitled to such ten (10) day notice and opportunity to cure on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any only two (2) installments of Rent within occasions during any twelve (12) month period. To the extent permitted by applicable law, then such overdue amount shall also bear interest commencing upon the due date, as Additional Rent, at the lesser of the maximum rate than permitted by law and twelve percent (12%) per annum. Landlord's acceptance of any late charge or interest shall not constitute a waiver of Tenant's default with respect to the overdue amount or prevent Landlord from exercising any of the other rights and remedies available to Landlord under this Lease or any law now or hereafter in effect. Notwithstanding anything to the contrary contained herein, in no event shall Tenant be required to pay any amounts that would be characterized as interest under applicable law in excess of the amounts that could be lawfully charged, collected and received by Landlord under applicable law. Landlord and Tenant intend to comply with all Rent will automatically become due and payable quarterly in advanceusury laws with respect to this Lease.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, and increased debt service expenses (the “Delinquency Costs”). If Landlord has not received any installment of Rent when within five (5) business days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amountamount immediately. Tenant agrees that the Late Charge The ten percent (10%) late charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (ai) the maximum interest rate permitted by law Law, or (bii) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). ) as its “Reference Rate.” If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree Xxxxxx recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Xxxxxx’s failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If Xxxxxxxx’s acceptance of late Rent, partial Rent and late charges does not equate with a Late Charge becomes payable for waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any two (2) installments rights and remedies available under this Lease and/or by operation of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advanceLaw.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of CaliforniaCalifornia ("Bank") (the “Bank”). as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.a

Late Charge and Interest. Tenant acknowledges and agrees that the late payment by Tenant to Landlord of any Rent sums due under this Lease will cause Landlord to incur additional costscosts not contemplated by this Lease, including administration the exact amount of such costs being extremely difficult and collection costs, impractical to fix. Such costs include processing and accounting expensescharges, and increased debt service (late charges that may be imposed on Landlord by the “Delinquency Costs”)terms of any encumbrance or note secured by any encumbrance covering the Premises. If Landlord has not received Therefore, if any installment of Monthly Base Rent when dueor any other sum of money due hereunder is not timely paid by Tenaxx xxx such failure continues for ten (10) days after notice thereof from Landlord, Tenant shall pay a late charge (to Landlord, as Additional Rent, the “Late Charge”) equal to ten sum of four percent (104%) of the delinquent amount. Tenant agrees that the Late Charge represents overdue amount as a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In additionlate charge; provided, however, Tenant shall pay interest be entitled to such ten (10) day notice and opportunity to cure on all delinquent amounts from the date the amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any only two (2) installments of Rent within occasions during any twelve (12) month period. To the extent permitted by applicable law, then such overdue amount shall also bear interest commencing upon the due date, as Additional Rent, at the lesser of the maximum rate than permitted by law and twelve percent (12%) per annum. Landxxxx'x xcceptance of any late charge or interest shall not constitute a waiver of Tenant's default with respect to the overdue amount or prevent Landlord from exercising any of the other rights and remedies available to Landlord under this Lease or any law now or hereafter in effect. Notwithstanding anything to the contrary contained herein, in no event shall Tenant be required to pay any amounts that would be characterized as interest under applicable law in excess of the amounts that could be lawfully charged, collected and received by Landlord under applicable law. Landlord and Tenant intend to comply with all Rent will automatically become due and payable quarterly in advanceusury laws with respect to this Lease.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord; provided, however, no late charge shall be payable with respect to the first late payment of Rent within any twelve (12) month period if such late payment of Rent is cured within five (5) business of Xxxxxxxx's written notice to Tenant of such Rent delinquency. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of CaliforniaCalifornia ("Bank") (the “Bank”). as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree Xxxxxx recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Xxxxxx's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, processing and accounting expenses, and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when due, Tenant shall pay a late charge (the “"Late Charge”") equal to ten seven and one-half percent (107.5%) of the delinquent amount; provided, however, that provide that no Event of Default has occurred, no such Late Charge shall be payable for the first time in each twenty (24) calendar months if such installment of Rent is received within three (3) business days after written notice from Landlord requiring payment of Rent. Tenant agrees that the Late Charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all delinquent amounts from the date the amount was due which is three (3) business days after written notice from Landlord requiring payment of Rent until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “"Reference Rate”") publicly announced by Bank of America, NA. (or if Bank of America, NA. ceases to exist, the largest bank then headquartered in the State of California) (the “"Bank”"). If the Bank discontinues use of the Reference Rate, then the term “"Reference Rate” " will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause ------------------------ Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within ten (10) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to ten of five percent (105%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (aof(a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of CaliforniaCalifornia ("Bank") (the “Bank”). as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree Xxxxxx recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Xxxxxx's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause ------------------------- Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “"Delinquency Costs”"). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to ten of five percent (105%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord; provided, however, that Landlord shall not charge any Delinquency Costs unless Landlord has in the previous 6 months notified Tenant in writing of a 5-day or more delinquent payment. All Delinquency Costs not billed within 90 days of when due are hereby waived. In addition, Tenant all amounts not paid within fifteen (15) days of when due shall pay bear interest on all delinquent amounts from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of CaliforniaCalifornia ("Bank") (the “Bank”)as its "Reference Rate. " If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause ------------------------ Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, expenses and increased debt service (the “collectively, "Delinquency Costs”"). If Landlord has not received any installment of Rent when duewithin five (5) days after Tenant receives notice from Landlord of such delinquent payment, then Tenant shall pay a late charge (the “Late Charge”) equal to ten of five percent (105%) of the delinquent amount. Tenant agrees that the Late Charge represents , which is agreed to represent a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “"Applicable Interest Rate”") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five four percent (54%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “"Bank”). ") as its "Reference Rate." If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant's failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If a Late Charge late charge becomes payable for any two three (23) installments of Rent within any twelve (12) month period, then all the Rent will shall automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, processing and accounting expenses, and increased debt service (the “Delinquency Costs”). If Landlord has not received any installment of Rent when due, or, if a grace period is applicable, within the applicable grace period, Tenant shall pay a late charge (the “Late Charge”) equal to ten five percent (105%) of the delinquent amount. Tenant agrees that the Late Charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all delinquent amounts from the date the amount was due due, or if a grace period is applicable from the last date of the grace period, until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). If the Bank discontinues use of the Reference Rate, then the term “Reference Rate” will mean the announced rate charged by the Bank, from time to time instead of the Reference Rate. Landlord and Tenant agree that it is difficult to ascertain the damage that Landlord will suffer as a result of the late payment of any Rent and that the Late Charge and interest are the best estimates of the damage that Landlord will suffer in the event of late payment. If a Late Charge becomes payable for any two (2) installments of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advance.

Late Charge and Interest. Tenant acknowledges and agrees that the The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs, costs and processing and accounting expenses, and increased debt service expenses (the “Delinquency Costs”). If Landlord has not received any installment of Rent when within five (5) days after such amount is due, Tenant shall pay a late charge (the “Late Charge”) equal to of ten percent (10%) of the delinquent amountamount immediately. Tenant agrees that the Late Charge The ten percent (10%) late charge represents a reasonable estimate of the Delinquency Costs that will be incurred by Landlord. In addition, Tenant shall pay interest on all such delinquent amounts shall bear interest from the date the such amount was due until the date the amount is paid in full at a rate per annum (the “Applicable Interest Rate”) equal to the lesser of (ai) the maximum interest rate permitted by law Law, or (bii) five percent (5%) above the reference rate (the “Reference Rate”) publicly announced by Bank of America, NA. N.A. (or if Bank of America, NA. N.A. ceases to exist, the largest bank then headquartered in the State of California) (the “Bank”). ) as its “Reference Rate.” If the Bank discontinues use of the announced Reference RateRate is discontinued by the Bank, then the term “Reference Rate” will Rate shall mean the announced rate charged by the BankBank which is, from time to time instead of time, substituted for the Reference Rate. Landlord and Tenant agree recognize that it is difficult to ascertain the damage that which Landlord will shall suffer as a result of the Tenant’s failure to pay such amounts is difficult to ascertain and said late payment of any Rent and that the Late Charge charge and interest are the best estimates estimate of the damage that which Landlord will shall suffer in the event of late payment. If Landlord’s acceptance of late Rent, partial Rent and late charges does not equate with a Late Charge becomes payable for waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any two (2) installments rights and remedies available under this Lease and/or by operation of Rent within any twelve (12) month period, then all Rent will automatically become due and payable quarterly in advanceLaw.