Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. The late payment of any Rent will cause Sub-landlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sub-landlord has not received any installment of Rent within five (5) days after that amount is due, Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sub-landlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum (“Applicable Interest Rate”) equal to the 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 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sub-landlord and Subtenant recognize that the damage Sub-landlord will suffer in the event of Subtenant’s failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sub-landlord will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sub-landlord Sublandlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sub-landlord Sublandlord has not received any installment of Rent within five ten (510) days after that amount is due, Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sub-landlordSublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum (“Applicable Interest Rate”) equal to the greater of (a) five two percent (52%) 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 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sub-landlord Sublandlord and Subtenant recognize that the damage Sub-landlord Sublandlord will suffer in the event of Subtenant’s 's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sub-landlord Sublandlord will suffer. If a late charge becomes payable for any three (3) installments of or Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sub-landlord Sublessor to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sub-landlord Sublessor has not received any installment of Rent within five (5) days after that amount is due, Subtenant Sublease will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sub-landlordSublessor. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum (“"Applicable Interest Rate”") equal to the 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 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sub-landlord Sublessor and Subtenant Sublessee recognize that the damage Sub-landlord Sublessor will suffer in the event of Subtenant’s Sublessee's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sub-landlord Sublessor will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sub-landlord Sublandlord to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sub-landlord Sublandlord has not received any installment of Rent within five (5) days after that amount is due, Subtenant will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sub-landlordSublandlord. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum (“Applicable Interest Rate”"APPLICABLE INTEREST RATE") equal to the 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 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sub-landlord Sublandlord and Subtenant recognize that the damage Sub-landlord Sublandlord will suffer in the event of Subtenant’s 's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sub-landlord Sublandlord will suffer. If a late charge becomes payable for any three (3) installments of or Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.

Late Charge and Interest. The late payment of any Rent will cause Sub-landlord Sublessor to incur additional costs, including the cost to maintain in full force the Master Lease, administration and collection costs, and processing and accounting expenses. If Sub-landlord Sublessor has not received any installment of Rent within five (5) days after that amount is due, Subtenant Sublessee will pay five percent (5%) of the delinquent amount, which is agreed to represent a reasonable estimate of the cost incurred by Sub-landlordSublessor. In addition, all delinquent amounts will bear interest from the date the amount was due until paid in full at a rate per annum (“"Applicable Interest Rate”") equal to the 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 25th day of the month preceding the date of this Sublease or (b) ten percent (10%). However, in no event will the Applicable Interest Rate exceed the maximum interest rate permitted by law that may be charged under these circumstances. Sub-landlord Sublessor and Subtenant Sublessee recognize that the damage Sub-landlord Sublessor will suffer in the event of Subtenant’s Sublessee's failure to pay this amount is difficult to ascertain and that the late charge and interest are the best estimate of the damage that Sub-landlord Sublessor will suffer. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, the Rent will automatically become payable quarterly in advance.