NSF Charges. In the event the Tenant issues a check or other negotiable instrument to Landlord which is returned for nonsufficient funds, because the account closed or is not honored for any other reason by the financial institution on which it is drawn, Tenant shall immediately make the check or other negotiable instrument “good” and shall pay to Landlord as liquidated damages to cover the costs of Landlord on account of the check or negotiable instrument the greater of the sum of Thirty Dollars ($30.00) or One Hundred Fifty Percent (150%) of the NSF charge assessed to Landlord by Landlord's financial institution, and Tenant will not be credited for such payment until it is reconciled notwithstanding its prior delivery of the dishonored payment.
Appears in 3 contracts
Sources: Commercial Lease, Commercial Lease, Commercial Lease