Common use of Late Charges Clause in Contracts

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 3 contracts

Samples: Lease (VCG Holding Corp), Lease (VCG Holding Corp), Lease (VCG Holding Corp)

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Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent 5% of such overdue amount; provided, however, the foregoing late charge shall not be applicable to the first (5%1st) instance of the installment or $500, whatever is greater, plus any attorney fees incurred late payment of Rent by Landlord by reason Tenant until three (3) business days after written notice to Tenant of Tenant’s failure to pay Rent when due hereundersuch late payment. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s).

Appears in 3 contracts

Samples: Pacific Biosciences of California Inc, Pacific Biosciences of California Inc, Pacific Biosciences of California Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) designated agent within five (5) days after receipt of notice that such amount has not been paid when is due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)and owing, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of such unpaid amount each time a late charge is payable during the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderLease Term. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Rent, then Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding Section 4.01 or any other provision of this Lease to the contrary.

Appears in 2 contracts

Samples: Work Letter Agreement, Work and Interior Specification Standards (Imprivata Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Demised Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 2 contracts

Samples: Lease, Lease (VCG Holding Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which that may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rent, Additional Rent or any other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall will immediately pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount or the installment or sum of One Hundred Dollars ($500100.00), whatever whichever is greater, plus any attorney fees incurred by Landlord by reason provided, however, that such late change will only be applied upon the second occurrence during the term of Tenant’s failure to pay Rent when due hereunderthe Lease (as extended). The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant, and is in addition to Interest on Past Due Obligations. Acceptance of such late charges charge by Landlord shall will in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunderunder this Lease.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Sonic Foundry Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent the Monthly Base Rent, Tenant's share of Operating Expenses or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, administrative, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the PremisesProject. Accordingly, if any installment of Rent the Monthly Base Rent, Operating Expenses, or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required), then to Tenant,Tenant shall pay to Landlord a late charge equal to five percent (5%) of such overdue amount. Landlord shall hereby grant Tenant one (1) free mistake in any twelve (12) month period whereby no late charge shall be assessed on the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderoverdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 2 contracts

Samples: Work Letter Agreement (Convera Corp), Letter Agreement (Convera Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Base Monthly Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, include but are not limited to: administrative, processing and accounting chargesprocessing, accounting, and late charges which may be imposed upon on Landlord by the terms of any mortgage contract, revolving credit, mortgage, or trust deed covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s its designee (a) within five (5) days after receipt of written notice that such amount has not been paid when due (if notice rent is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) percent of such overdue amount, which late charge shall be due and payable on the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersame date that the overdue amount was due. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment by Tenant, excluding interest and attorneys fees and costs. If any rent or other sum due from Tenant remains delinquent for a period in excess of Tenantthirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate specified in Section 19.J following the date such amount became due until paid. Acceptance by Landlord of such late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s default with respect to such overdue amount, amount nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 2 contracts

Samples: Lease (Data Domain, Inc.), Lease (Data Domain, Inc.)

Late Charges. Tenant hereby acknowledges that late payment payments by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due all other amounts provided to be paid hereunder will shall cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be are extremely difficult and impractical to ascertaindetermine. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges which that may be imposed upon on Landlord by the terms of any mortgage or trust deed encumbrances and notes secured by any encumbrances covering the Leased Premises, or late charges and penalties by virtue of late payments of taxes due on the Leased Premises. AccordinglyTherefore, if any installment of Minimum Rent or any other amount due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the date due, then Tenant shall pay to Landlord a late charge equal to five an additional sum of ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when amount due hereunderas a late charge. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord. In addition, in the event Tenant fails to pay within thirty (30) days after the same is due and payable any installment of Minimum Annual Rent or any other sum or charge required to be paid by Tenant to Landlord under this Lease, such unpaid amount shall bear interest from the due date thereof to the date of payment at the rate of fourteen percent (14%) per annum until paid.

Appears in 2 contracts

Samples: Office Lease (Entex Information Services Inc), Office Lease (Entex Information Services Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProperty. Accordingly, if any installment of Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) business days of when due (if no more than once in any twelve month period, then, without any requirement for notice is required)or demand to Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 2 contracts

Samples: NameMedia, Inc., NameMedia, Inc.

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s). Notwithstanding the foregoing or anything to the contrary, Tenant shall not be obligated to pay a late charge until each time after the fourth time during the term or extended term of that Tenant fails to pay any amount due under this Lease within 4 days after said amount shall be due.

Appears in 2 contracts

Samples: Industrial Lease (CAPSTONE TURBINE Corp), Industrial Lease (Capstone Turbine Corp)

Late Charges. Tenant’s Rent and all Additional Rent is due on or before the First Day of each Month. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertain. Such costs include, but are not limited towithout limitation, processing processing, administration and accounting charges, and late charges which may be imposed upon Landlord by terms . If any installment of any mortgage or trust deed covering the Premises. Accordingly, if any installment item of Rent due from Tenant shall is not be received by Landlord on or Landlord’s designee (a) within five (5) days after receipt before the 10th day of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the month due, then Tenant shall pay to Landlord a late charge equal to five Landlord, as Additional Rent, (a) ten percent (510%) of the installment or $500overdue Rent, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderas a late charge. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that the Landlord will incur by reason of the late payment of by Tenant. Acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s default with respect to such the overdue amountamounts, nor prevent the Landlord from exercising any of the other rights and remedies granted available to Landlord hereunder. The payment of a late charge shall be in addition to any interest payable by Tenant under Section 8. In addition to the charges provided for above, Tenant shall pay a charge of $45.00 to Landlord for each check returned for insufficient funds and 5125.00 for each “three (3) day pay or quit” notice sent to Tenant by Landlord.

Appears in 2 contracts

Samples: Office Lease (Equillium, Inc.), Office Lease (Equillium, Inc.)

Late Charges. Tenant’s Rent and all Additional Rent is due on or before the First Day of each Month. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertain. Such costs include, but are not limited towithout limitation, processing processing, administration and accounting charges, and late charges which may be imposed upon Landlord by terms . If any installment of any mortgage or trust deed covering the Premises. Accordingly, if any installment item of Rent due from Tenant shall is not be received by Landlord on or Landlord’s designee (a) within five (5) days after receipt before the 10th day of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the month due, then Tenant shall pay to Landlord a late charge equal to five Landlord, as Additional Rent, (a) ten percent (510%) of the installment or $500overdue Rent, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderas a late charge. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that the Landlord will incur by reason of the late payment of Tenantby Xxxxxx. Acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountamounts, nor prevent the Landlord from exercising any of the other rights and remedies granted available to Landlord hereunder. The payment of a late charge shall be in addition to any interest payable by Tenant under Section 8. In addition to the charges provided for above, Tenant shall pay a charge of $45.00 to Landlord for each check returned for insufficient funds and $125.00 for each "three (3) day pay or quit" notice sent to Tenant by Landlord.

Appears in 2 contracts

Samples: Office Lease (GRI BIO, Inc.), Office Lease (Vallon Pharmaceuticals, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from form Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five Five (5) days after receipt of notice that the date on which such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)payment was due, then Tenant shall pay to Landlord a late charge change equal to five Five percent (5%) of such overdue amount, which late charge shall be due and payable on the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersame date that the overdue amount question was due. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, amount nor prevent Landlord from form exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of Base Monthly Rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 1 contract

Samples: Lease Agreement (Packeteer Inc)

Late Charges. Tenant TENANT hereby acknowledges that late payment by Tenant TENANT to Landlord LANDLORD of Minimum Rent and scheduled Additional Rent other amounts due hereunder will cause Landlord LANDLORD to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which that may be imposed upon Landlord on LANDLORD by the terms of any mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Rent or any other amounts due from Tenant TENANT shall not be received by Landlord LANDLORD or Landlord’s LANDLORD'S designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days after such amount shall be due, and LANDLORD or LANDLORD'S designee has given five (5) days prior written notice to TENANT of when due (if no notice is required)non-receipt of funds, then Tenant TENANT shall pay to Landlord LANDLORD a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will costs LANDLORD may incur by reason of the late payment of Tenantby TENANT. Acceptance of such late charges charge by Landlord LANDLORD shall in no event constitute a waiver of Tenant’s TENANT'S default with respect to such overdue amount, nor prevent Landlord LANDLORD from exercising any of the other rights and remedies granted to LANDLORD hereunder.

Appears in 1 contract

Samples: Lease (Sycamore Park Convalescent Hospital)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled any Monthly Base Rental, Additional Rent Rent, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or deed of trust deed covering the PremisesBuilding. Accordingly, if any installment of Rent Monthly Base Rental, Additional Rent, or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee designated agent within three (a3) days after such amount shall be due, then, so long as Landlord has delivered written notice to Tenant specifying the payment amount not received and Tenant fails to pay such amount within five (5) days after of receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)said written notice, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The foregoing written notice shall only be required two (2) times per calendar year. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Notwithstanding any other provision in this Lease, Tenant shall have thirty (30) days from receipt of any invoice for payment of Additional Rent prior to incurring any late charges under this Article 5.

Appears in 1 contract

Samples: Office Lease (Molina Healthcare Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord Landlord, as Additional Rent (as defined in Paragraph 4.3 below), without the necessity of further notice or demand, a late charge equal to five percent (5%) of the any installment or $500, whatever of Rent which is greater, plus any attorney fees incurred not received by Landlord within five (5) days after the due date for such installment. Notwithstanding the above, once but only once in any twelve (12) month period during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Rental from Landlord, and Tenant shall not be liable for any late charge, interest or other late charge hereunder if such Rental is received by reason of Landlord within five (5) days after Tenant’s failure to pay Rent when due hereunderreceipt of such notice from Landlord. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by Landlord shall in In no event constitute shall this provision for a waiver late charge be deemed to grant to Tenant a grace period or extension of Tenant’s default with respect time within which to such overdue amount, nor pay any installment of Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay such installment of Rent when due, including without limitation the other rights right to terminate this Lease. In the event any installment of Rent is not received by Landlord by the due date for such installment, such installment shall bear interest at the annual rate set forth in Paragraph 34 below, commencing on the due date for such installment and remedies granted hereundercontinuing until such installment is paid in full.

Appears in 1 contract

Samples: Improvement Agreement (Rackable Systems, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this LeaseSublease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five three and three quarters percent (53.75%) of the installment such overdue amount each and every month (or $500, whatever any portion thereof) until said late payment is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpaid in full. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, amount nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Office Sublease (Einstein Noah Bagel Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such when said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five the maximum amount permitted by law (and in the absence of any governing law, ten percent (510%) of the installment or $500, whatever is greatersuch overdue amount), plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: New Energy Corp

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s Xxxxxxxx's designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) 10% of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s Xxxxxx's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenantby Xxxxxx. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor not prevent Landlord from exercising any of the other rights and remedies granted hereunder. Landlord may, at its option, include all late charges accrued during any calendar year in Tenant's estimated charges for the ensuing year.

Appears in 1 contract

Samples: BSM Bancorp

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent, of additional rent, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent, additional rent, or any other sums due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) calendar days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five fifteen percent (515%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of any of the aforesaid monetary obligations of Tenant, then the rent shall automatically be due and payable quarterly in advance, rather than monthly, notwithstanding paragraph (3) or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Multi Tenant Lease Agreement (Global Casinos Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee within six (a) within five (56) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default 's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord's inability to negotiate such item(s).

Appears in 1 contract

Samples: Industrial Lease (Excaliber Enterprises, Ltd.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days after Tenant's receipt of when due (if no written notice that such amount is required)delinquent, then Tenant shall pay to Landlord a late charge equal to five four percent (54%) of such overdue amount which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lease Agreement (Netro Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expenses or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent Base Rent, Operating Expenses or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) 6% of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of any of the aforesaid monetary obligations of Tenant, then Base Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding paragraph 4.1 or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: License Agreement

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent, of additional rent, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent, additional rent, or any other sums due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) calendar days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five two percent (52%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of any of the aforesaid monetary obligations of Tenant, then the rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding paragraph (3) or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Multi Tenant Lease Agreement (AspenBio Pharma, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Estate Tax increases, Tenant Electricity Cost, parking charges (if any), after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges (if any), after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under section 13.5.

Appears in 1 contract

Samples: Noosh Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, to processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premisesany Property. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that when such amount has not been paid when shall be due (if subject to any applicable grace period or notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is requiredrequirement herein contained), then then, without any requirement for additional notice to Tenant, Tenant shall pay pay, to Landlord a late charge Late Charge equal to five four percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent Late Charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges Late Charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder; provided, however, that payment in full of the Late Charge and all other amounts required by this Lease to completely cure the default, if such payments are made timely within applicable cure periods set forth herein, or are otherwise accepted in full by Landlord, will cure such default.

Appears in 1 contract

Samples: Lease Agreement (Meyer Fred Inc)

Late Charges. Tenant hereby acknowledges that late payment ------------ by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) business days after receipt of notice that such amount has not been paid when shall be due then, without any requirement for notice to Tenant (if notice is required pursuant to notwithstanding Section 21(b14.1(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five four (4) percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three consecutive installments of Base Rent, then at Landlord's option Base Rent shall become due and payable quarterly in advance, rather than monthly, notwithstanding Article IV or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Exodus Communications Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, include but are not limited to, to processing and accounting charges, charges and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall should not be received by Landlord or Landlord’s 's designee (a) within five (5) 30 days after receipt of written notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)past due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) 10% of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorney's fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. (9)

Appears in 1 contract

Samples: Agreement (Coinstar Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) business days after receipt of notice that such amount has not been paid when shall be due then, without any requirement for notice to Tenant (if notice is required pursuant to notwithstanding Section 21(b14.1(b)) or (b) within ten (10) days of when due (if no notice is required), then Tenant shall pay to Landlord a late charge equal to five four (4) percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three consecutive installments of Base Rent, then at Landlord's option Base Rent shall become due and payable quarterly in advance, rather than monthly, notwithstanding Article IV or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Lease (Exodus Communications Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will other charges provided for under this Lease shall cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult or impracticable to ascertainfix. Such costs include, but are not limited to, processing and accounting charges, and late charges which that may be imposed upon on Landlord by the terms of any mortgage encumbrance and notes secured by any encumbrance covering the Premises, or trust deed covering late charges and penalties due to late payment of Real Property Taxes due on the Premises. Accordingly, if commencing on the Commencement Date, the first time during a period of twelve (12) consecutive months that any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee within seven (a) within five (57) days after receipt Landlord gives Tenant written notice of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)the unpaid amount, then Tenant shall pay to Landlord Landlord, as Additional Rent, a late charge equal to five percent (5%) of such overdue amount (the "Late Charge"); thereafter, if any installment of rent or $500, whatever is greater, plus any attorney fees incurred other sum due from Tenant shall not be received by Landlord within seven (7) days after such amount shall be due, Tenant shall pay to Landlord the Late Charge as additional Rent, whether or not Landlord has given Tenant written notice of the non-receipt of the Rent or other charges or has exercised any remedy herein provided for default by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will shall incur by reason of the late payment of Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.by

Appears in 1 contract

Samples: Lease (Intermune Pharmaceuticals Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any sum owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount amounts of which will be are extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage obligation or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent rent or other payment due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) business days after receipt of notice that such amount has not been paid from when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge an additional sum equal to five percent (5%) of the installment overdue rent or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderother payment as a late charge. Late charges shall be deemed Additional Rent. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost administrative and other costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, the interest charge imposed pursuant to Paragraph 22.2.

Appears in 1 contract

Samples: Standard Industrial Lease Agreement (Etoys Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Base Monthly Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Monthly Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) business days after receipt Landlord gives Tenant notice of delinquency (which notice that such amount has not been paid when due (if may be in the form of a notice is required pursuant to Section 21(b)) quit or (b) within ten (10) days of when due (if no notice is requiredpay rent), then Tenant shall pay to Landlord a late charge equal to five percent (5%) percent of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. IT IS FURTHER MUTUALLY AGREED BETWEEN THE PARTIES AS FOLLOWS:

Appears in 1 contract

Samples: Therma Wave Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Property Tax increases or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProperty. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Property Tax increases or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of such overdue amount. Notwithstanding the installment or $500foregoing, whatever Landlord agrees that the foregoing late charge will not be imposed with respect to the first late payment in any twelve-month period if the amount owed is greaterpaid in full within ten (10) days after written notice from Landlord thereof. The late charge shall apply to the second and any subsequent late payments, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderwithout notice, as aforesaid. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under SECTION 13.5.

Appears in 1 contract

Samples: Medicines Co /De

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be is extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five One Hundred and 00/100 Dollars ($100.00) or two percent (52%) of the installment or $500amount due, whatever whichever is greaterhigher, and provided that such amount will not exceed the maximum rate permitted by law, plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost administrative costs that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Tenant hereby agrees that, if Tenant is subject to a late charge for three (3) consecutive months, Minimum Annual Rent for the following twelve (12) months shall automatically be adjusted to be payable quarterly, in advance, commencing upon the first day of the month following such consecutive late month and continuing for the next twelve (12) months on a quarterly basis in advance.

Appears in 1 contract

Samples: Construction Provisions Agreement (Cinemastar Luxury Theaters Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default 's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, provided that, Landlord will not impose any late fee upon the first late payment of Rent, if any, during each 12 month period following the Commencement Date unless Tenant fails to make the applicable payment within five (5) business days after written notice of such delinquency is given by Landlord. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord's inability to negotiate such item(s).

Appears in 1 contract

Samples: Omneon Video Networks, Inc.

Late Charges. Tenant hereby acknowledges that late payment by Tenant to ------------ Landlord of Minimum Rent and scheduled Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of If any mortgage Rent or trust deed covering the Premises. Accordingly, if any installment of Rent other sums due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) 's designated agent within ten (10) days of when after its due (if no notice is required)date, then Tenant shall pay to Landlord a late charge equal to five the maximum amount permitted by law (and in the absence of any governing law, [*]percent (5[*]%) of the installment or $500, whatever is greatersuch overdue amount), plus any attorney reasonable attorneys' fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the Tenant's late payment of Tenantpayment. Acceptance Landlord's acceptance of such late charges by Landlord shall in no event not constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent amount or stop Landlord from exercising any of the other rights and remedies granted hereunder. Notwithstanding the foregoing, Landlord agrees to waive the imposition of such late charge on the first (1st) two (2) occasions in any twelve (12) month period, provided each overdue payment is made within five (5) days after Landlord gives Tenant written notice that payment was not made when due.

Appears in 1 contract

Samples: Lease Agreement (Equinix Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant Tenant’s failure to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will pay rent promptly may cause Landlord to incur costs not contemplated by this Lease, the unanticipated costs. The exact amount of which will be such costs are impractical or extremely difficult to ascertain. Such costs may include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by terms of any ground lease, mortgage or trust deed covering encumbering the PremisesProperty. AccordinglyTherefore, if Landlord does not receive any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s designee (a) rent payment within five (5) days after receipt of notice that such amount has not been paid when it becomes due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required“Late Charge Due Date”), then Tenant shall immediately pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderoverdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of such late payment. Tenant shall pay such late charge to Landlord immediately after the Late Charge Due Date, and if Tenant fails to so pay such amount to Landlord, then such nonpayment shall be considered a monetary default by Tenant and a failure by Tenant to pay rent under this Lease, and Tenant shall pay interest to Landlord on such unpaid late payment of Tenantcharge amount pursuant to Section 4.6, below (but not greater than the maximum amount permitted by law on such late charge and only to the extent permitted by law) from the Late Charge Due Date. Acceptance Landlord’s acceptance of such late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s default with respect to such overdue amount, nor amount or prevent Landlord from exercising any of the other rights and remedies granted hereunderunder this Lease.

Appears in 1 contract

Samples: Qualstar Corp

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Lease (Rexahn Pharmaceuticals, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after written notice from Landlord that such amount is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) percent of such overdue amount which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary. IT IS FURTHER MUTUALLY AGREED BETWEEN THE PARTIES AS FOLLOWS:

Appears in 1 contract

Samples: Agreement (Concentric Network Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, to processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of Tenantpayments by Xxxxxx. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Xxxxxx's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Following each second consecutive installment of Rent that is not paid within five (5) days of the date when due, Landlord shall have the option (i) to require that beginning with the first payment of Rent next due, Rent shall no longer be paid in monthly installments but shall be payable quarterly three (3) months in advance; and/or (ii) to require that Tenant increase the amount of the Security Deposit by one hundred percent (100%).

Appears in 1 contract

Samples: legistarweb-production.s3.amazonaws.com

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Rent, or any other sums due hereunder will cause Landlord to incur costs not otherwise contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable in this Lease or otherwise, whether or not collected, for three (3) installments of rent in any 12-month period, then Rent shall automatically become due and payable quarterly in advance, rather than monthly notwithstanding any other provision of this Lease to the contrary. In addition to the late charges provided for in this paragraph, interest shall accrue on Rent, or any other sums due hereunder, at the rate of 18% per annum or the maximum rate provided by law, whichever is less, beginning ten (10) days after the Rent is due until paid.

Appears in 1 contract

Samples: Lease Agreement (Telecommunication Systems Inc /Fa/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense Increase or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the PremisesBuilding. Accordingly, if any installment of Rent Base Rent, Operating Expense Increase, or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five three percent (53%) of such overdue amount, but not to exceed the installment or $500, whatever maximum late charge permitted by law in the jurisdiction where the Building is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderlocated. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Non Disturbance Agreement (Capital Bank Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default 's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord's inability to negotiate such item(s). Notwithstanding the foregoing or anything to the contrary, Tenant shall not be obligated to pay a late charge until each time after the fourth time during the term or extended term of that Tenant fails to pay any amount due under this Lease within 4 days after said amount shall be due.

Appears in 1 contract

Samples: Industrial Lease (Capstone Turbine Corp)

Late Charges. Tenant hereby acknowledges that that, in addition to interest costs, the late payment payments by Tenant to Landlord of Minimum Rent and scheduled Additional Rent any rent or other sums due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such other costs include, but are not limited towithout limitation, processing processing, administrative and accounting charges, charges and late charges which that may be imposed upon on Landlord by the terms of any mortgage mortgage, deed of trust or trust deed covering related loan documents encumbering the Premises, the Building or the Project. Accordingly, if any installment of Rent due from rent or any other amount payable by Tenant shall hereunder is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when by the due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)date thereof, then Tenant shall pay to Landlord a late charge equal to five an additional sum of ten percent (510%) of the installment or $500overdue amount as a late charge, whatever is greater, plus any attorney fees incurred but in no event more than the maximum late charge allowed by Landlord by reason of Tenant’s failure to pay Rent when due hereunderlaw. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the any late payment as hereinabove referred to by Tenant, and the payment of late charges and interest are distinct and separate in that the payment of interest is to compensate Landlord for the use of Landlord's money by Tenant, while the payment of late charges is to compensate Landlord for Landlord's processing, administrative and other costs incurred by Landlord as a result of Tenant's delinquent payments. Acceptance of such a late charges by Landlord charge or interest shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amount, nor amount or prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease or at law or in equity now or hereafter in effect.

Appears in 1 contract

Samples: Industrial Lease (E Digital Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent Base Rent, Tenant's Percentage Share of Operating Expenses and scheduled Additional Rent Taxes or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges which that may be imposed upon on Landlord by the terms of any mortgage encumbrances or trust deed notes secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Base Rent or other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) due, then, within ten (10) days of when due (if no notice following the date said Base Rent or other sum is required)due, then Tenant shall pay to Landlord Landlord, without additional invoice or demand, an additional sum equal to six percent (6%) of such overdue amount as a late charge; provided, however, if payments of Base Rent have been made to Landlord in a timely manner pursuant to automatic wire transfer then the late charge herein shall be an additional sum equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderoverdue amount. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the late payment of by Tenant. Acceptance The accrual and/or acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amount, nor prevent Landlord from exercising any of the Landlord's other rights and remedies granted hereunderremedies.

Appears in 1 contract

Samples: Lease Agreement (Avanex Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Basic Rent, Operating Expenses or any other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Leased Premises. Accordingly, if any installment of Rent Basic Rent, Operating Expenses, or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after such amount shall be due, then, without any requirement for notice is required)to Tenant, then Tenant shall pay to Landlord a late charge equal to five percent Five (5%) percent of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other its rights and remedies granted hereunder.

Appears in 1 contract

Samples: Commercial Lease (Ramsay Youth Services Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s). Notwithstanding anything to the contrary herein, before assessing a late charge, fee or interest for the first time in any thirty-six (36) month period, Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge if Tenant pays such delinquency within five (5) days thereafter.

Appears in 1 contract

Samples: Industrial Lease (Tenaya Therapeutics, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges, after-hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges, after-hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Landlord and Tenant Acknowledge That They Have Carefully Read and Reviewed This Lease and Each Term and Provision Contained Herein And (Echo Therapeutics, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent Yearly Rent, Tenant's Proportionate Share of Operating Costs and scheduled Additional Rent Taxes, after hours additional heat, cleaning or air conditioning service charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesBuilding. Accordingly, if any installment of Rent Yearly Rent, Tenant's Proportionate Share of Operating Costs and Taxes, after hours additional heat, cleaning or air conditioning service charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge for each thirty (30) day period until paid in full equal to five the greater of (i) four percent (54%) of the installment such overdue amount or (ii) $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder300.00. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Article 21.6.

Appears in 1 contract

Samples: Lease by And (Cambex Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder thereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)after such amount shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Any overdue rent and other payments due from Tenant under this Lease and not paid when due shall bear interest at the maximum rate per annum to which parties are permitted to agree under applicable law on that due date.

Appears in 1 contract

Samples: Lease (Telco Systems Inc /De/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will shall cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering coveting the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice after said amount is required)past due, then Tenant shall pay to Landlord a late charge equal to five percent seven (57%) percent of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge and any interest thereon by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor amount unless Tenant is otherwise advised by Landlord. Such acceptance unless it constitutes a waiver shall not prevent Landlord from exercising any of the other rights and remedies granted hereunder. Additionally, any payment of money due hereunder which is not paid within thirty (30) days of the due date shall bear interest at the rate of 15% Per annum.

Appears in 1 contract

Samples: Lease Agreement (Connected Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder thereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice it is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater25.00 for each delinquent installment, plus any attorney attorney's fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: The Lease Renewal Agreement (Western Sierra Bancorp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any ground lease, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five six percent (56%) of such overdue amount; provided that as to the installment initial such late payment in any twelve (12) consecutive month period during the Term, such late charge shall not be due or $500, whatever is greater, plus any attorney fees incurred payable unless such failure by Landlord by reason of Tenant’s failure Tenant to pay Rent when due hereunderis not cured within five (5) days following Tenant's receipt of written notice thereof from Landlord. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Sport Chalet Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rent, Additional Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after notice that the amount is required)due, then Tenant shall immediately pay to Landlord a late charge equal to five four percent (54%) of such over due amount or the installment or sum of Two Hundred Fifty Dollars ($500250.00), whatever whichever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenantby Tenant and is in addition to interest due under Section 25.4. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Commercial Lease (McData Corp)

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Late Charges. Tenant Subtenant hereby acknowledges that the late payment by Tenant Subtenant to Landlord Sublandlord of Minimum Base Rent, Additional Rent and scheduled Additional Rent other sums due hereunder will cause Landlord Sublandlord to incur costs not contemplated by this LeaseSublease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord Sublandlord by the terms of any mortgage or trust deed covering the PremisesMaster Lease. Accordingly, if any installment of Base Rent, Additional Rent or other sum due from Tenant Subtenant shall not be received by Landlord Sublandlord or Landlord’s Sublandlord's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no after the date on which such amount was due, then, without any requirement for notice is required)to Subtenant, then Tenant Subtenant shall pay to Landlord Sublandlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord costs Sublandlord will incur by reason of the late payment of Tenantby Subtenant. Acceptance of such late charges charge by Landlord Sublandlord shall in no event constitute a waiver of Tenant’s Subtenant's default or breach with respect to such overdue amount, nor prevent Landlord Sublandlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Sublease (Lionbridge Technologies Inc /De/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProperty. Accordingly, if any installment of Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five four percent (54%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Work Letter Agreement (Oxigene Inc)

Late Charges. If Tenant shall fail to pay to Landlord any Rent or other sums when due hereunder, such unpaid amounts shall bear interest at the prime commercial rate then being charged by Bank of America plus two percent (2%) per annum from the date due to the date of payment. In addition, Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)shall be due, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount. No late charge may be imposed more than once for the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay same late Rent when due hereunderpayment. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderat law or equity or pursuant to this Lease.

Appears in 1 contract

Samples: Digital Commerce Corp

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any sum owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount amounts of which will be are extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage obligation or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent rent or other payment due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) business days after receipt of notice that such amount has not been paid from when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge an additional sum equal to five ten percent (510%) of the installment overdue rent or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderother payment as a late charge. Late charges shall be deemed Additional Rent. The parties hereby agree that such this late charges represent charge represents a fair and reasonable estimate of the cost administrative and other costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, the interest charge imposed pursuant to Paragraph 22.2.

Appears in 1 contract

Samples: Industrial Lease Agreement (Jill Kelly Productions Holding, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)after such amount shall be due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) percent of such overdue amount which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder unless by such acceptance the default is cured, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 1 contract

Samples: Lease (Hybrid Networks Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any ground lease, mortgage or trust security deed covering the Premises. Accordingly, if any installment of Rent rent or other sum due from Tenant shall not be actually received by Landlord or Landlord’s 's designee for deposit in Landlord's account within seven (a7) within five (5) business days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of Tenant. by Tenant Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default 's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Rent, then notwithstanding Paragraph 4.1 or any other provision of this Lease to the contrary, Base Rent and all other rent payable hereunder shall, at Landlord's option, become due and payable quarterly in advance. Landlord Initials: Tenant Initials

Appears in 1 contract

Samples: Commencement Date Agreement (Brainy Brands Company, Inc.)

Late Charges. 39. Tenant hereby acknowledges that the late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent any sums due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. AccordinglyTherefore, if any installment of Rent due from Tenant shall rent is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of written notice by Landlord to Tenant that payment is due, provided that, if Landlord has delivered such amount has not been paid when due a written notice to Tenant within the twelve (if 12) month period preceding such delinquency, Landlord shall have no notice is required pursuant obligation with respect to Section 21(b)such delinquency) or if any Additional Rent or any other sum due under this Lease is not paid by Tenant within five (b) within ten (105) days of when due (if no notice is required)receipt of a statement therefore from Landlord, then Tenant shall pay to Landlord a late charge equal to five an additional sum of six percent (56%) of the installment or $500overdue amount as a late charge. Such late charge shall be in addition to, whatever is greaterand not in lieu of, plus any attorney fees incurred by Landlord by reason interest which may become due upon such sum pursuant to Article 38 of Tenant’s failure to pay Rent when due hereunderthis Lease. The parties hereby to this Lease agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the any late payment of by Tenant. Acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amount, nor amount or prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, or pursuant to any law now or hereafter in effect. The aforesaid late charge shall be considered Additional Rent.

Appears in 1 contract

Samples: Office Lease (Retix)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days after receipt of when due (if no written notice that such amount is required)past due, then Tenant shall pay to Landlord as liquidated damages, a late charge equal to five one percent (51%) of such overdue amount plus interest at the installment or $500, whatever is greaterrate provided for herein accruing from the date such sum was originally due, plus any attorney fees incurred by Landlord by reason in collecting such overdue Rent. Landlord agrees that no such amounts shall be due upon the first receipt of Tenant’s failure to pay Rent when due hereunderan overdue notice from Landlord during the Term. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance Such sum shall constitute additional rent hereunder. If Tenant is not otherwise in default of its obligations under this Lease, acceptance of such late charges charge along with all of the overdue amount (including any interest thereon as required by this Lease), by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Net Lease (MGP Ingredients Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent or rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)after such amount shall be due, then Tenant shall pay to Landlord a late charge equal to five three percent (53%) of such overdue amount which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 1 contract

Samples: Hadco Corp

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or of trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice after the amount is required)due, then Tenant shall pay to Landlord a late charge equal to five percent ten (510%) percent of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorney's fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Asset Purchase and Assignment Agreement (Cet Environmental Services Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant’s Share of Operating Expense increases, Tenant’s Share of Real Property Tax increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5.

Appears in 1 contract

Samples: Lease (Regenerx Biopharmaceuticals Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) designated agent within five (5) days after receipt of notice that such amount has not been paid when is due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)and owing, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment amount which is past due. Notwithstanding the above, once every twelve (12) months during the Lease Term, Tenant shall be entitled to written notice of non-receipt of Rent from Landlord, and Tenant shall not be liable for any late charge, interest or $500, whatever other late fee hereunder if such Rent is greater, plus any attorney fees incurred received by Landlord by reason of within three (3) business days after Tenant’s failure to pay Rent when due hereunderreceipt of such written notice from Landlord. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lionbridge Technologies Inc /De/

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which that may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Base Rent, Additional Rent or any other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall will immediately pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount or the installment or sum of One Hundred Dollars ($500100.00), whatever whichever is greatergreater provided, plus any attorney fees incurred by Landlord by reason however, such late charge will only be applied upon the second occurrence during the Term of Tenant’s failure to pay Rent when due hereunderthe Lease (as extended). The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant, and is in addition to Interest on Past Due Obligations. Acceptance of such late charges charge by Landlord shall will in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor or prevent Landlord from exercising any of the other rights and remedies granted hereunderunder this Lease.

Appears in 1 contract

Samples: Lease Agreement (Sonic Foundry Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Base Rent, Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs includeIf any Base Rent, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage Additional Rent or trust deed covering the Premises. Accordingly, if any installment of Rent other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) 's designated agent within five (5) 10 days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorneys' fees and costs incurred by Landlord by reason of Tenant’s 's failure to pay Base Rent, Additional Rent and other charges when due hereunder. The parties hereby agree that such late charges and, if applicable, the default interest hereinafter described, represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the Tenant's late payment of Tenantpayment. Acceptance Landlord's acceptance of such late charges by Landlord shall in no event not constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent amount or stop Landlord from exercising any of the other rights and remedies granted hereunder. In the event that any payment of Base Rent, Additional Rent or other sums due hereunder is not received by Landlord within thirty (30) days when due, then in addition to the late charge described herein such overdue amount shall accrue interest at the rate of fourteen percent (14%) per year commencing on the thirty-first (31st) day the same has remained unpaid and continuing until Landlord or Landlord's designated agent receives full payment.

Appears in 1 contract

Samples: Lease (Smtek International Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt by Tenant of written notice specifying that such Landlord has failed to receive the amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)in question, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of such overdue amount, which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 1 contract

Samples: Aehr Test Systems

Late Charges. Tenant hereby acknowledges that late payment by Tenant to ------------ Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Leaselease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, including without limitation processing and accounting charges, administrative expense, and additional interest expense or late charges which may to Landlord resulting from late payment by Landlord of payments due on obligations of Landlord, whether or not secured by an encumbrance on the premises. Tenant acknowledges that the exact amount of such damages would be imposed upon Landlord extremely difficult and impractical to ascertain, and that the expense of attempting to ascertain the exact amount of such damages would be an additional cost not contemplated by terms of any mortgage or trust deed covering the Premisesthis lease. Accordingly, if in the event that Tenant shall fail to pay any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) hereunder within ten (10) days after the later of when the date such amount is due (if no or the effective date of any notice is required)required to be given by Landlord in connection therewith, then and without regard to whether Landlord exercises any remedy herein provided for default by Tenant, Tenant shall pay to Landlord as additional rent a late charge equal to five four percent (54%) of the each such installment or $500, whatever is greater, plus any attorney fees incurred by other sum. Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby and Tenant agree that such the late charges represent charge herein provided is a fair and reasonable estimate of the cost that damages which Landlord will shall incur by reason of the late payment of by Tenant. Acceptance Landlord's acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s 's default with respect to the overdue amount if Tenant fails to pay such overdue amountamount within any applicable grace period provided in this lease, nor shall such acceptance prevent Landlord from exercising any of the other rights and or remedies granted hereunderherein provided for default by Tenant.

Appears in 1 contract

Samples: Sublease Agreement (E Stamp Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Percentage Share of Operating Expenses or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Percentage Share of Operating Expenses or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunder[*]. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, including the assessment of interest under Section 17.5. Notwithstanding anything to the contrary contained herein, Tenant shall be entitled to notice [*].

Appears in 1 contract

Samples: Standard Lease (Ambarella Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee within fifteen (a) within five (515) days after receipt of notice that such amount has not been paid when due (if shall be due, including the ten-day notice is required pursuant and cure period, then, without any requirement for notice to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Rent, then Rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding paragraph 4 or any other provision of this Lease to the contrary.

Appears in 1 contract

Samples: Lease (National Information Group)

Late Charges. Tenant hereby acknowledges that late payment by Tenant of any amount owed to Landlord of Minimum Rent and scheduled Additional Rent due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impracticable to ascertainfix. Such costs include, but are not limited towithout limitation, processing and accounting charges, time spent addressing the issue with Tenant, and late charges which that may be imposed upon on Landlord by the terms of any mortgage encumbrance or trust deed note secured by any encumbrance covering the Premises. AccordinglyTherefore, if any installment of Rent or other payment due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of written notice that such amount has not been paid the same is due (or, if Tenant shall be failed to pay rent when due (more than twice in any calendar year, if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is requiredsuch amounts are not received by landlord on the date due), then Tenant shall pay to Landlord a late charge equal Landlord, as liquidated damages for Tenant's failure to make such timely payment, an additional sum of five percent (5%) of the installment overdue Rent or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderother payment per month as a late charge. The parties hereby agree that such the late charges represent charge represents a fair and reasonable estimate of the cost administrative costs that Landlord will incur by reason of the a late payment of by Tenant. Acceptance of such any late charges by Landlord payment charge shall in no event not constitute a waiver of Tenant’s 's default with respect to such the overdue amountpayment, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, at law or in equity, including, but not limited to, charging the Interest Rate imposed pursuant to Section 20.2.

Appears in 1 contract

Samples: Industrial Lease Agreement (Tibco Software Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s).

Appears in 1 contract

Samples: Industrial Lease (InvenSense Inc)

Late Charges. Tenant hereby acknowledges that late payment payments by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Leaselease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, including without limitation processing and accounting charges, administrative expense, and additional interest expense or late charges which may to Landlord resulting from late payment by Landlord of payments due on obligations of Landlord, whether or not secured by an encumbrance on the premises. Tenant acknowledges that the exact amount of such damages would be imposed upon Landlord extremely difficult and impractical to ascertain, and that the expense of attempting to ascertain the exact amount of such damages would be an additional cost not contemplated by terms of any mortgage or trust deed covering the Premisesthis lease. Accordingly, if in the event that Tenant shall fail to pay any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) hereunder within ten (10) days after the date such amount is due, and without regard to whether Landlord gives Tenant notice of when due (if no notice is required)such failure or exercises any remedy herein provided for default by Tenant, then Tenant shall pay to Landlord as additional rent a late charge equal to five one percent (51%) of the each such installment or $500, whatever is greater, plus any attorney fees incurred by other sum. Landlord by reason of Tenant’s failure to pay Rent when due hereunder. The parties hereby and Tenant agree that such the late charges represent charge herein provided is a fair and reasonable estimate of the cost that damages which Landlord will shall incur by reason of the late payment of by Tenant. Acceptance Landlord’s acceptance of such any late charges by Landlord charge shall in no event not constitute a waiver of Tenant’s default with respect to the overdue amount if Tenant fails to pay such overdue amountamount within any applicable grace period provided in this lease, nor shall such acceptance prevent Landlord from exercising any of the other rights and or remedies granted hereunderherein provided for default by Tenant.

Appears in 1 contract

Samples: Agreement of Sublease (PRN Corp)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.hereunder including the assessment of interest under Section 13.5. SEE ADDENDUM PARAGRAPH 16

Appears in 1 contract

Samples: License Agreement for Satellite (Jaymark Inc)

Late Charges. 39. Tenant hereby acknowledges that the late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent any sums due hereunder under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be such costs being extremely difficult and impractical to ascertainfix. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. AccordinglyTherefore, if any installment of Rent due from Tenant shall rent is not be received by Landlord by the tenth (10th) day of the month for which it is due, or Landlord’s designee (a) if any Additional Rent or any other sum due under this Lease is not paid by Tenant within five (5) days after of receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)a statement therefore from Landlord, then Tenant shall pay to Landlord a late charge equal to five an additional sum of three percent (53%) of the installment or $500overdue amount as a late charge. Such late charge shall be in addition to, whatever is greaterand not in lieu of, plus any attorney fees incurred by Landlord by reason interest which may become due upon such sum pursuant to Article 38 of Tenant’s failure to pay Rent when due hereunderthis Lease. The parties hereby to this Lease agree that such this late charges represent charge represents a fair and reasonable estimate of the cost costs that Landlord will incur by reason of the any late payment by Tenanx. Xxceptance of Tenant. Acceptance of such any late charges by Landlord charge and the full rent shall in no event constitute a waiver of Tenant’s 's default with respect to such the overdue amount, nor amount and shall prevent Landlord from exercising any of the other rights and remedies granted hereunderavailable to Landlord under this Lease, or pursuant to any law now or hereafter in effect. The aforesaid late charge shall be considered Additional Rent. The foregoing late charges shall only apply if Tenanx xxx previously failed to pay the monthly rental installments by the tenth (10th) day of the month on more than two occasions in the preceding twelve (12) month period.

Appears in 1 contract

Samples: Assignment Agreement (Syncor International Corp /De/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Property Tax increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Property Tax increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under Section 13.5. Notwithstanding the foregoing, Landlord agrees to waive imposition of such late charge on one (1) occasion in any twelve (12) month period provided the overdue payment is made within five (5) days after Landlord gives Tenant written notice that payment was not made when due.

Appears in 1 contract

Samples: Visual Networks Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Rent, Additional Rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs includeIf any Rent, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage Additional Rent or trust deed covering the Premises. Accordingly, if any installment of Rent other sum due from Tenant shall is not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) 's designated agent within ten (10) days of when due (if no notice is required)after being due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent and other charges when due hereunder. All unpaid Rent, Additional Rent or other sum due from Tenant to Landlord under this Lease shall bear interest from the tenth (10th) day after the due date thereof until paid, at the lesser of sixteen percent (16%) per annum or the maximum interest rate per annum allowed by law. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the Tenant's late payment of Tenantpayment. Acceptance Landlord's acceptance of such late charges by Landlord shall in no event not constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent amount or estop Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Industrial Lease (Radio Systems Corp)

Late Charges. Tenant TENANT hereby acknowledges that late payment by Tenant TENANT to Landlord LANDLORD of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord LANDLORD to incur costs not contemplated by this Leaselease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant TENANT shall not be received by Landlord LANDLORD or Landlord’s LANDLORD's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)after such amount shall be due, then Tenant shall pay to Landlord a late charge equal to five one and one- half percent (51.5%) of the installment or payment due and unpaid plus $500100.00 shall be added to the payment, whatever is greaterand the total sum shall become immediately due and payable to LANDLORD. An additional charge of one and one-half percent (1.5%) of such payment, plus excluding late charges, shall be added for each additional month that such payment remains unpaid. LANDLORD shall apply any attorney fees incurred by Landlord by reason of Tenant’s failure monies received from TENANT first to pay Rent when any accrued delinquency charges and then to any other payments due hereunderunder the lease. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord costs LANDLORD will incur by reason of the late payment of Tenantby TENANT. Acceptance of such late charges by Landlord LANDLORD shall in no event constitute a waiver of Tenant’s TENANT's default with respect to such overdue amount, nor prevent Landlord LANDLORD from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Airspace Lease Agreement

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any ground lease, mortgage or deed of trust deed covering the Premises. Accordingly, if any installment of Base Rent and Tenant's Share of Operating Expenses or other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) * days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) * of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default 's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected for * consecutive installments of Base Rent and Tenant's Share of Operating Expenses, then notwithstanding Section 4.1 or any other provision of this Lease to the contrary, Base Rent and Tenant's Share of Operating Expenses shall, at Landlord's option, become due and payable quarterly in advance.

Appears in 1 contract

Samples: Lease (Frontier Airlines Inc /Co/)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs costs, include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon Landlord by terms temis of any mortgage or trust deed covering the Premisespremises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s Landlords designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice after said amount is required)due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of the installment or $500, whatever is greatersuch overdue amount, plus any attorney attorneys' fees incurred by Landlord by reason of Tenant’s 's failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges by the Landlord shall shall, in no event event, constitute a waiver of Tenant’s Tenants default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lease (International Solubles Corp)

Late Charges. Tenant hereby acknowledges that a late payment made by Tenant to Landlord of Minimum Rent, Amortized Rent, Additional Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges charges, which may be imposed upon on Landlord by according to the terms of any mortgage Lien Interest or trust deed covering the Premises. Accordingly, if any installment of monthly Rent due from Tenant shall is not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of Landlord delivers a written notice to Tenant that such amount has not been paid when is due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is requiredArticle 20.1(a), then Tenant shall pay to Landlord a late charge equal to five one percent (51%) of such overdue amount for each monthly installment of Rent to which the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderlate fee applies. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of payments made by Tenant. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor shall it prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Samples: Lease Agreement (Mission West Properties Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s). Notwithstanding the foregoing, before assessing a late charge the first time in any one (1) year period, Landlord shall provide Tenant written notice of the delinquency, and shall waive such late charge if Tenant pays such delinquency within five (5) days thereafter.

Appears in 1 contract

Samples: Lease (Clean Energy Fuels Corp.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult difficult, if not impossible, to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that such said amount has not been paid when due (if notice is required pursuant past due, then, in addition to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)an other remedies provided herein, then Tenant shall pay to Landlord a late charge equal to five ten percent (510%) of such overdue amount (but in no event greater than the installment or $500maximum amount permitted by law), whatever is greaterplus, plus any attorney in either event, all attorneys’ fees incurred by Landlord by reason of Tenant’s failure to pay Rent rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment of by Tenant, and that it does not constitute a forfeiture or penalty. Acceptance of such late charges by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Landlord may, at its option, deduct all late charges from the Security Deposit.

Appears in 1 contract

Samples: Center 21 Office Lease (Pandora Media, Inc.)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) 4 days after receipt of notice that such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder, provided that, Landlord will not impose any late fee upon the first late payment of Rent, if any, during each 12 month period following the Commencement Date unless Tenant fails to make the applicable payment within five (5) business days after written notice of such delinquency is given by Landlord. In addition, should Landlord be unable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord’s inability to negotiate such item(s).

Appears in 1 contract

Samples: D Lease (Harmonic Inc)

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent other sums due hereunder will cause Landlord to incur costs not contemplated by this 'Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) 4 days after receipt of such, amount shall be due, then, without any requirement for notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall pay to Landlord a late charge equal to five percent (5%) % of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s default 's Default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. Notwithstanding the foregoing, on the first two occasions during the Term in which Tenant would otherwise be subject to payment of a late charge, no late charge shall accrue until after Landlord has given Tenant five (5) days' written notice thereof and Tenant has failed to pay the amount due within that period. In addition, should Landlord be tunable to negotiate any payment made by Tenant on the first attempt by Landlord and without any notice to Tenant, Tenant shall pay to Landlord a fee of $50.00 per item which the parties hereby agree represents a fair and reasonable estimate of the costs Landlord will incur by reason of Landlord's inability to negotiate such item(s).

Appears in 1 contract

Samples: Singing Machine Co Inc

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent rent and scheduled Additional Rent other sums due hereunder will cause Landlord landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and administrative, processing, accounting charges, and late charges charges, which may be imposed upon on Landlord by the terms of any contract, revolving credit, mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent rent or any other sum due from Tenant shall not be received by Landlord or Landlord’s 's designee (a) within five (5) days after receipt of notice that such amount has not been paid when due (if notice is required pursuant to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)after such amount shall be due, then Tenant shall pay to Landlord a late charge equal to five percent three (53%) percent of such overdue amount which shall be due and payable with the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereunderpayment then delinquent. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, then rent shall automatically become due and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary.

Appears in 1 contract

Samples: Hadco Corp

Late Charges. Tenant hereby acknowledges that late payment by Tenant to Landlord of Minimum Rent and scheduled Additional Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges, after hours HVAC charges, or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, charges and late charges which may be imposed upon on Landlord by the terms of any mortgage or trust deed covering encumbering the PremisesProject. Accordingly, if any installment of Rent Base Rent, Tenant's Share of Operating Expense increases, parking charges, after hours HVAC charges or any other sum due from Tenant shall not be received by Landlord or Landlord’s designee (a) within five (5) days after receipt of notice that when such amount has not been paid when due (if shall be due, then, without any requirement for notice is required pursuant or demand to Section 21(b)) or (b) within ten (10) days of when due (if no notice is required)Tenant, then Tenant shall immediately pay to Landlord a late charge equal to five six percent (56%) of the installment or $500, whatever is greater, plus any attorney fees incurred by Landlord by reason of Tenant’s failure to pay Rent when due hereundersuch overdue amount. The parties hereby agree that such late charges represent charge represents a fair and reasonable estimate of the cost that costs Landlord will incur by reason of the late payment of by Tenant. Acceptance of such late charges charge by Landlord shall in no event constitute a waiver of Tenant’s 's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunderhereunder including the assessment of interest under section 13.5.

Appears in 1 contract

Samples: Office Lease (United Panam Financial Corp)

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