Common use of Late Charge and Interest Clause in Contracts

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult or impracticable to determine. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxes. Therefore, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by the date that is three (3) business days after its due date, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (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 following the date such amount became due until paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of any Rent under this Lease will cause Landlord to incur administrative costs not contemplated by this Lease, the exact amount of which is extremely difficult or and impracticable to determineascertain based on the facts and circumstances pertaining as of the Lease Date. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxes. ThereforeAccordingly, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received paid by Landlord in good funds by the date that is three Tenant, within five (35) business days after its due dateTenant's receipt of written notice from Landlord that such amount is past-due, then Tenant shall pay to Landlord an additional sum a late charge equal to five percent (5%) of such Rent; provided that, if Tenant has previously received one (1) or more written notices from Landlord during the amount overdue as a immediately preceding twelve (12) month-period stating that Tenant failed to pay any Rent required to be paid by Tenant under this Lease when due, then Landlord shall not be required to deliver any further written notice to Tenant in such twelve (12) month period. Any Rent, other than late charge; providedcharges, howeverdue Landlord under this Lease, such late charge if not paid when due, shall be waived for also bear interest at the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written noticeInterest Rate from the date due until paid. The parties acknowledge that this such late charge represents and interest represent a fair and reasonable estimate of the administrative costs that and loss of use of funds Landlord will incur by reason of a late Rent payment by Tenant. In no event shall this provision for a , but Landlord's acceptance of such late charge be deemed and/or interest shall not constitute a waiver of an Event of Default with respect to grant to Tenant a grace period or extension of time within which to pay any rent such Rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due other rights and remedies provided under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (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 following the date such amount became due until paidLease.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent under this Lease or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is are extremely difficult or and impracticable to determinefix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges that may be imposed on Landlord by the terms of any Security Instrument, encumbrance and late charges and penalties that may be imposed due to late payment of Real Property Taxesnote secured by any encumbrance covering the Premises. Therefore, if any installment of Base Fixed Monthly Rent or any payment of Additional Rent or and other rent payment due from Tenant hereunder is not received by Landlord in good funds by the date that is three within seven (37) business days after its due dateof the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge agree that this late charge represents a fair and reasonable estimate of settlement against the costs that Landlord will incur by reason of ▇▇▇▇▇▇’s late payment by Tenantpayment. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Tenant’s default with respect to grant to Tenant a grace period or extension of time within which to pay any rent the overdue amount, or prevent Landlord from exercising any right or remedy of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty which is not paid within twelve (3012) days thenafter the same becomes due and payable shall, in addition to such late chargeany Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall ▇▇▇▇ ▇▇▇▇▇▇ for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall pay to Landlord interest on not be assessed any rent that is not paid when due at late charge for the Agreed Interest Rate following first late payment in each twelve (12) month period of the date Term so long as Tenant pays such amount became due until within five (5) business days of Tenant’s receipt of written notice from Landlord that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent under this Lease or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is are extremely difficult or and impracticable to determinefix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges that may be imposed on Landlord by the terms of any Security Instrument, encumbrance and late charges and penalties that may be imposed due to late payment of Real Property Taxesnote secured by any encumbrance covering the Premises. Therefore, if any installment of Base Fixed Monthly Rent or any payment of Additional Rent or and other rent payment due from Tenant hereunder is not received by Landlord in good funds by within five (5) days of the date that is three (3) business days after its due dateit becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge agree that this late charge represents a fair and reasonable estimate of settlement against the costs that Landlord will incur by reason of Tenant’s late payment by Tenantpayment. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Tenant’s default with respect to grant to Tenant a grace period or extension of time within which to pay any rent the overdue amount, or prevent Landlord from exercising any right or remedy of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty which is not paid within twelve (3012) days thenafter the same becomes due and payable shall, in addition to such late chargeany Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall ▇▇▇▇ Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall pay to Landlord interest on not be assessed any rent that is not paid when due at late charge for the Agreed Interest Rate following first late payment in each twenty-four (24) month period of the date Term so long as Tenant pays such amount became due until within five (5) days of Tenant’s receipt of notice that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent under this Lease or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is are extremely difficult or and impracticable to determinefix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges that may be imposed on Landlord by the terms of any Security Instrument, encumbrance and late charges and penalties that may be imposed due to late payment of Real Property Taxesnote secured by any encumbrance covering the Premises. Therefore, if any installment of Base Fixed Monthly Rent or any payment of Additional Rent or and other rent payment due from Tenant hereunder is not received by Landlord in good funds by the date that is three within five (35) business days after its due dateof the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge agree that this late charge represents a fair and reasonable estimate of settlement against the costs that Landlord will incur by reason of Tenant's late payment by Tenantpayment. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period or extension of time within which to pay any rent the overdue amount, or prevent Landlord from exercising any right or remedy of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty which is not paid within twelve (3012) days thenalter the same becomes due and payable shall, in addition to such late chargeany Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall bill ▇▇▇ant for said interest, and Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate following the date such amount became due until paidsame within five (5) business days of receipt of Landlord's billing.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent under this Lease or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is are extremely difficult or and impracticable to determinefix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges that may be imposed on Landlord by the terms of any Security Instrument, encumbrance and late charges and penalties that may be imposed due to late payment of Real Property Taxesnote secured by any encumbrance covering the Premises. Therefore, if any installment of Base Fixed Monthly Rent or any payment of Additional Rent or and other rent payment due from Tenant hereunder is not received by Landlord in good funds by the date that is three within five (35) business days after its due dateof the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge agree that this late charge represents a fair and reasonable estimate of settlement against the costs that Landlord will incur by reason of Tenant's late payment by Tenantpayment. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period or extension of time within which to pay any rent the overdue amount, or prevent Landlord from exercising any right or remedy of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty which is not paid within twelve (3012) days thenafter the same becomes due and payable shall, in addition to such late chargeany Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall ▇▇▇▇ Tenant for said interest, and Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate following the date such amount became due until paidsame within five (5) days of receipt of Landlord's billing.

Late Charge and Interest. Tenant Sublessee acknowledges that its late payment by Tenant to Landlord of Rent under this Lease will cause Landlord Sublessor to incur costs and expenses not contemplated by this LeaseSublease, including, but not limited to, administrative and collection costs, the exact amount of which is extremely difficult or impracticable impractical to determinefix. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxes. ThereforeAccordingly, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by paid within five (5) days the date that such Rent is three (3) business days after its due datedue, Tenant Sublessee shall pay to Landlord an additional sum Sublessor, in addition to the installment of Rent then owing, a late payment charge equal to five percent (5%) of the amount overdue as of the delinquent installment, regardless of whether a late charge; provided, however, such late charge shall be waived for the first late payment notice of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt default or notice of written noticetermination has been given by Sublessor. The parties acknowledge Sublessor and Sublessee agree that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur and expenses incurred by reason of Sublessor from, and is fair compensation to Sublessor for, its loss suffered by such late payment by TenantSublessee. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is Rent or other amounts owing unto Sublessor under this Sublease which are not paid within five (5) days after the date they are due shall thereafter bear interest at the rate of ten percent (10%) per annum. Nothing contained herein shall relieve Sublessee of its obligation to pay Rent as and when due at and in the Agreed Interest Rate following the date such amount became due until paidmanner recorded under this Sublease nor shall any provision hereunder constitute a waiver of any default of Sublessee with regard to any late or non-payment of Rent.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult or impracticable to determine. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxes. Therefore, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by within ten (10) days of the date that is three (3) business days after its applicable due date, Tenant shall pay to Landlord an additional sum equal to five ten percent (510%) of the amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (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 following the date such amount became due until paid.

Late Charge and Interest. Tenant acknowledges that late payment by ------------------------ Tenant to Landlord of Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult or impracticable to determine. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxes. Therefore, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by the date that is three (3) business days after its applicable due date, Tenant shall pay to Landlord an additional sum equal to five ten percent (510%) of the amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant▇▇▇▇▇▇. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s 's failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (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 following the date such amount became due until paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent under this Lease or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is are extremely difficult or and impracticable to determinefix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges that may be imposed on Landlord by the terms of any Security Instrument, encumbrance and late charges and penalties that may be imposed due to late payment of Real Property Taxesnote secured by any encumbrance covering the Premises. Therefore, if any installment of Base Fixed Monthly Rent or any payment of Additional Rent or and other rent payment due from Tenant hereunder is not received by Landlord in good funds by within five (5) days of the date on which Landlord delivers notice to Tenant that such amount is three (3) business days after its past due date, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount overdue as a late charge; provided, provided however, Landlord shall not be required to deliver such notice more than one (1) time in any twelve (12) month period (i.e. - the five percent (5%) late charge shall be waived for apply to any subsequent failure during such twelve (12) month period to pay an amount within five (5) days of the first late payment date due, without the requirement of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written noticeadditional notice to Tenant). The parties acknowledge agree that this late charge represents a fair and reasonable estimate of settlement against the costs that Landlord will incur by reason of Tenant's late payment by Tenantpayment. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Tenant's default with respect to grant to Tenant a grace period or extension of time within which to pay any rent the overdue amount, or prevent Landlord from exercising any right or remedy of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty which is not paid within twelve (3012) days thenafter the same becomes due and payable shall, in addition to such late chargeany Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall bill ▇▇▇ant for said interest, and Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate following the date such amount became due until paidsame within five (5) days of receipt of Landlord's billing.

Late Charge and Interest. Tenant acknowledges that the late payment by Tenant to Landlord ------------------------ of Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, including administrative costs, loss of use of the overdue funds and other costs, the exact amount of which is would be impractical and extremely difficult or impracticable to determineascertain. Such costs include, but are Landlord and Tenant agree that if Landlord does not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late receive a payment of Real Property Taxes. Therefore, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by the date that is three within ten (310) business days after its due dateTenant's receipt of notice from Landlord that such payment is due, Tenant shall pay to Landlord an additional sum equal to a late charge of five percent (5%) of the overdue amount overdue per month as a late charge; provided, however, such late charge shall be waived for the first late that it Tenant's payment of Rent in any calendar year provided Tenant makes such payment within is overdue more than three (3) business days after receipt of written notice. The parties acknowledge that this late charge represents a fair times in any twelve (12) month period, then no such notice from Landlord shall be required thereafter, and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord shall accrue immediately upon Tenant’s Landlord's failure to pay any rent due receive a Rent payment when due. Whenever interest is required to be paid under this Lease in a timely fashionLease, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant the interest shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate following be calculated from the date such amount became the payment was due or should have been due if correctly assessed or estimated (or any overcharge paid), until paidthe date payment is made or the refund is paid or is credited against Rent next due.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Fixed Monthly Rent under this Lease or Additional Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is are extremely difficult or and impracticable to determinefix. Such costs include, but are not limited towithout limitation, processing and accounting charges, charges and late charges that may be imposed on Landlord by the terms of any Security Instrument, encumbrance and late charges and penalties that may be imposed due to late payment of Real Property Taxesnote secured by any encumbrance covering the Premises. Therefore, if any installment of Base Fixed Monthly Rent or any payment of Additional Rent or and other rent payment due from Tenant hereunder is not received by Landlord in good funds by the date that is three within seven (37) business days after its due dateof the date it becomes due, Tenant shall pay to Landlord on demand an additional sum equal to five percent (5%) of the overdue amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge agree that this late charge represents a fair and reasonable estimate of settlement against the costs that Landlord will incur by reason of Tenant’s late payment by Tenantpayment. In no event shall this provision for a Acceptance of any late charge be deemed shall not constitute a waiver of Tenant’s default with respect to grant to Tenant a grace period or extension of time within which to pay any rent the overdue amount, or prevent Landlord from exercising any right or remedy of the other rights and remedies available to Landlord. Every installment of Fixed Monthly Rent and Additional Rent and any other payment due hereunder from Tenant to Landlord upon Tenant’s failure to pay any rent which is not paid within twelve (12) business days after the same becomes due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (30) days thenand payable shall, in addition to such late chargeany Late Charge already paid by Tenant, bear interest at the rate of ten percent (10%) per annum from the date that the same originally became due and payable until the date it is paid. Landlord shall b▇▇▇ Tenant for said interest, and Tenant shall pay the same within five (5) days of receipt of Landlord’s billing. Notwithstanding the foregoing, Tenant shall pay to Landlord interest on not be assessed any rent that is not paid when due at late charge for the Agreed Interest Rate following first late payment in each twenty-four (24) month period of the date Term so long as Tenant pays such amount became due until within five (5) days of Tenant’s receipt of notice that such amount has not been paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult or impracticable to determine. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxes. Therefore, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by within five (5) days from the date that is three (3) business days after its applicable due date, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (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 following the date such amount became due until paid.

Late Charge and Interest. Tenant acknowledges that late payment by Tenant to Landlord of Rent under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult or impracticable to determine. Such costs include, but are not limited to, processing and accounting charges, late charges that may be imposed on Landlord by the terms of any Security Instrument, and late charges and penalties that may be imposed due to late payment of Real Property Taxesany Additional Rent. Therefore, if any installment of Base Monthly Rent or any payment of Additional Rent or other rent due from Tenant is not received by Landlord in good funds by ten (10) days from the date that is three (3) business days after its applicable due date, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the amount overdue as a late charge; provided, however, such late charge shall be waived for the first late payment of Rent in any calendar year provided Tenant makes such payment within three (3) business days after receipt of written notice. The parties acknowledge that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of late payment by Tenant. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rent or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay any rent due under this Lease in a timely fashion, including any right to terminate this Lease pursuant to Section 13.2C. If any rent remains delinquent for a period in excess of thirty (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 following the date such amount became due until paid.