Late Fee and Interest Clause Samples

The Late Fee and Interest clause establishes the penalties that apply when a party fails to make payments on time under the agreement. Typically, this clause specifies a fixed fee or a percentage-based charge for overdue amounts, and may also outline an interest rate that accrues on unpaid balances until they are settled. By clearly defining the financial consequences of late payments, this clause incentivizes timely payment and compensates the non-breaching party for the delay, thereby reducing the risk of cash flow disruptions.
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Late Fee and Interest. If Subtenant shall fail to pay, within five (5) days of when due, any Rent, then Subtenant shall pay with the next installment a late charge equal to five percent (5%) of the late Rent, which shall in no event be less than $200.00. Except as set forth herein, Subtenant shall not have any grace periods for late payments unless expressly granted by Sublandlord. Unless so granted, the additional five percent (5%) shall be automatically due and owing to Sublandlord. In addition, all past-due payments required of Subtenant hereunder that are more than twenty (20) days past due shall bear interest from the date that is twenty (20) days after the date due until paid at the lesser of the rate of fifteen percent (15%) per annum or the maximum lawful rate of interest. In no event, however, shall the charges permitted under this Sublease exceed the maximum lawful rate of interest.
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Late Fee and Interest. All installments of Rent which are not paid by Sublessee to Sublessor within five (5) days after the same is due ("Delinquency Date") shall bear interest from and after the due date until paid at a rate equal to the lesser of eighteen percent (18%) per annum or the highest legal rate of interest. In addition to the foregoing, Sublessee shall immediately pay Sublessor as a late fee an amount equal to five percent (5%) of any amounts not paid to Sublessor on or before such Delinquency Date.
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Late Fee and Interest. If Landlord does not receive the Second Installment on or prior to February 1, 2016, Tenant will pay Landlord: (i) a late payment charge equal to ten percent (10%) of the Second Installment (i.e., $[***]); and (ii) interest on the delinquent amount of the Second Installment calculated at the Maximum Rate from the date the Second Installment is due up to the date the Second Installment is received by Landlord. The parties agree that such amounts represent a fair and reasonable estimate of the damages Landlord will incur by reason of such late payment. Such late payment charge and interest will be considered Additional Rent.
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Late Fee and Interest. Any installment of Rent due hereunder that is not received by Lessor on or by the 10th day of the respective month in which it became due and payable, shall be assessed late payment fee of 5% of the unpaid amount due for each month or fraction thereof, or such lesser amount as may be the maximum amount permitted by law, until paid. All unpaid amount due and owing as of the 11th day of the respective month in which they became due and payable shall accrue interest as a rate equal to the lesser of 18% per annum or the maximum non-usurious rate chargeable under applicable law. Any partial payments received by Lessor may, in Lessor’s sole and absolute discretion, be applied in the following order: first to the payment of any late fees, then to the payment of any accrued interest, then to the payment of any attorneys’ fees and/or collection costs and lastly to any Rest due hereunder.
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Late Fee and Interest. If Subtenant shall fail to pay any Rent within five (5) business days after its due date, then Subtenant shall pay with the next installment a late charge equal to $250.00. Any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 10% per annum or the highest rate permitted by Law.
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Late Fee and Interest. Lessor may impose a late fee of twenty-five dollars ($25.00) on the account becoming delinquent for the preceding billing cycle. Upon becoming delinquent, interest on the principal amount of the account balance will accrue at the rate of one and one-half percent (1.5%), from the date the balance was due until paid in full.
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Late Fee and Interest. In order to compensate Landlord for administrative costs incurred by Landlord in the event of late payment by Tenant, if any payment of base rent or any other amount payable by Tenant under either the 1995 Lease or the 2001 Lease is not paid in full on or before the date ten days after the due date, then: (i) Tenant shall pay to Landlord a late fee equal to three (3%) percent of the past due amount, and (ii) interest shall accrue on such past due amount at the rate of one and one-half percent per month from the date that such amount was due until such amount is paid in full. Notwithstanding the foregoing to the contrary, Tenant shall be entitled to one late payment in any twelve-month period before incurring such late fee and interest.
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Late Fee and Interest. If the rent is paid more than five days past the due date, there shall be a late charge of 5% of the monthly payment due. In addition, interest at a rate of one percent (1%) shall accrue on the unpaid amount due and also on any unpaid penalty beginning on the sixth day that the actual monthly rental installment is due.
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Related to Late Fee and Interest

  • Late Fee All overdue accrued and unpaid interest to be paid hereunder shall entail a late fee at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law (the “Late Fees”) which shall accrue daily from the date such interest is due hereunder through and including the date of actual payment in full.

  • Late Charge and Interest Tenant acknowledges that late payment by Tenant of any Rent will cause Landlord to incur administrative costs not contemplated by this Lease, the exact amount of which is extremely difficult and impracticable to ascertain based on the facts and circumstances pertaining as of the Lease Date. Accordingly, if any Rent is not paid by Tenant, within five (5) days after Tenant's receipt of written notice from Landlord that such amount is past-due, then Tenant shall pay to Landlord 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 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 charges, due Landlord under this Lease, if not paid when due, shall also bear interest at the Interest Rate from the date due until paid. The parties acknowledge that such late charge and interest represent a fair and reasonable estimate of the administrative costs and loss of use of funds Landlord will incur by reason of a late Rent payment by Tenant, but Landlord's acceptance of such late charge and/or interest shall not constitute a waiver of an Event of Default with respect to such Rent or prevent Landlord from exercising any other rights and remedies provided under this Lease.

  • Late Fees (Check one)

  • Late Charges and Interest Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent 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 on Landlord by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installments of Rent shall not be received by Landlord or Landlord's designee within five (5) days after such amount shall be due, Tenant shall pay to Landlord a late charge equal to fifteen percent (15%) of such overdue amount ("Late Charge"). The parties hereby agree that such Late Charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payments by Tenant. Acceptance of such Late 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 addition, Tenant shall pay interest on all Rent not paid on the date when due at an annual interest rate of eighteen percent (18%) or the highest rate permitted by law, whichever is lower ("Interest Rate"). In the event any check, bank draft or negotiable instrument given for any payments under this Lease shall be dishonored at any time for any reason whatsoever not attributable to Landlord, Landlord shall be entitled, in addition to any other remedy that may be available, to an administrative charge of $200.00.

  • Payment and Interest The amount determined payable pursuant to the decision, less any portion already paid, normally should be paid without awaiting Contractor action concerning appeal. Such payments shall be without prejudice to the rights of either party. Interest on amounts ultimately determined to be due to a Contractor shall be payable at the Statutory rate applicable to judgments against the State under Chapter 662, HRS from the date of receipt of a properly certified final written statement of actual adjustment required until the date of decision; except, however, that if an action is initiated in circuit court, interest under this Section 7.25, DISPUTES AND CLAIMS (§3-126-31 HAR) shall only be calculated until the time such action is initiated. Interest on amounts due the Department from the Contractor shall be payable at the same rate from the date of issuance of the Project Manager’s notice to the Contractor. Where such payments are required to be returned by a subsequent decision, interest on such payments shall be paid at the statutory rate from the date of payment.