Common use of Past Due Payments Clause in Contracts

Past Due Payments. In the event any payment due under this Lease should not be paid on the due date, Tenant agrees to pay interest on the amount which is delinquent at the highest rate permitted under the laws of the state in which the Shopping Center is located, for such delinquent payment until made. In addition thereto, if Tenant shall fall to pay any rents, additional rents or any other payments due under this Lease within five (6) days of the due date thereof, or in the event any check, bank draft, order for payment or negotiable instrument given to Landlord for any payment under this Lease shall be dishonored for any reason whatsoever not attributable to Landlord, then Tenant shall also pay to Landlord an administrative charge equal to whichever is the greater of the following: (i) One Hundred ($100.00)Dollars, or (ii) five (5%) percent of such unpaid sum, Tenant recognizes and agrees that the charge which Landlord is entitled to make upon the conditions stated in this Section represents, at the time this Lease is made, a fair and reasonable estimate and liquidation of the cost of Landlord in the administration of the Shopping Center resulting to Landlord from the events described which costs are not contemplated or included in any other rental charges provided to be paid by Tenant to Landlord in this Lease. The provisions herein for administrative charges shall not be construed to extend the date for payment of any sums required to be paid by Tenant hereunder or to relieve Tenant of its obligation to pay all such sums at the time or times herein stipulated.

Past Due Payments. In the event any payment due under this Lease should not be paid on the due date, Tenant agrees to pay interest on the amount which is delinquent at the highest rate permitted under the laws of the state in which the Shopping Center is locatedof Florida, for such delinquent payment until made. In addition thereto, if Tenant shall fall fail to pay any rents, additional rents or any other payments due under this Lease within five (65) days of the due date thereof, or in the event any check, bank draft, order for payment or negotiable instrument given to Landlord for any payment under this Lease shall be dishonored for any reason whatsoever not attributable to Landlord, then Tenant shall also pay to Landlord an administrative charge equal to whichever is the greater of the following: (i) One Hundred Dollars ($100.00)Dollars100.00), or (ii) five percent (5%) percent of such unpaid sum, . Tenant recognizes and agrees that the charge which Landlord is entitled to make upon the conditions stated in this Section represents, at the time this Lease is made, a fair and reasonable estimate and liquidation of the cost of Landlord in the administration of the Shopping Center VIA MIZNXX XXXANCIAL PLAZA resulting to Landlord from the events described which costs are not contemplated or included in any other rental charges provided to be paid by Tenant to Landlord in this Lease. The provisions herein for administrative administration charges shall not be construed to extend the date for payment of any sums required to be paid by Tenant hereunder or to relieve Tenant of its obligation to pay all such sums at the time or times herein stipulated.

Past Due Payments. In Tenant hereby acknowledges that late payment by Tenant to Landlord of 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, in the event any rents, Additional Rents or any other payment due under this Lease should not be paid on within five (5) days of the due date, Tenant agrees shall pay to pay interest on Landlord a late charge equal to the lesser of (a) the maximum amount which is delinquent at the highest rate permitted under the laws of the state in which the Shopping Center is located, for such delinquent payment until madeby law; or (b) seven (7%) percent. In addition thereto, if Tenant shall fall to pay any rents, additional rents or any other payments due under this Lease within five (6) days of the due date thereof, or in the event any check, bank draft, order for payment or negotiable instrument given to Landlord for any payment under this Lease shall be dishonored for any reason whatsoever not attributable to Landlord, then Tenant shall also pay to Landlord Landlord, to the extent permitted by law, an administrative charge equal to whichever is the greater of the following: (i) One Hundred Seventy-five and No/100 Dollars ($100.00)Dollars, or (ii) five (5%) percent of such unpaid sum, 75.00). Tenant recognizes and agrees that the charge charge(s) which Landlord is entitled to make upon the conditions stated in this Section represents, at the time this Lease is made, a fair and reasonable estimate and liquidation of the cost of Landlord in the administration of the Shopping Center resulting to Landlord from the events described which costs are not contemplated or included in any other rental charges provided to be paid by Tenant to Landlord in this Lease. The provisions herein for administrative charges shall not be construed to extend the date for payment of any sums required to be paid by Tenant hereunder or to relieve Tenant of its obligation to pay all such sums at the time or times herein stipulated. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising all other rights and remedies granted hereunder.