Usage Fees. Licensee shall pay the Licensor $150.00 per day for use of the Premises. Licensee shall be billed for all charges due under this Agreement on an annual basis. The Usage Fees may be changed from time to time by the Licensor upon sixty (60) days prior written notice to the Licensee. Any Usage Fee or other payment required of Licensee under this Agreement, if not paid within ten (10) days after it is due, shall bear interest at the rate of nine percent (9%) per annum (but not in any event at a rate greater than the maximum rate of interest permitted by law) from the due date until paid. Licensor may also assess and collect a late charge equal to five percent (5%) of the late payment, in addition to the above-referenced interest, as well as enforce all other remedies available for Licensee’s default. Collection of a late charge shall not be in lieu of nor shall it waive the breach caused by the late payment.
Appears in 3 contracts
Sources: Facilities Use Agreement, Facilities Use Agreement, Facilities Use Agreement
Usage Fees. Licensee shall pay the Licensor $150.00 $ 100.00 per day for use of the Premises. Licensee shall be billed for all charges due under this Agreement on an annual basis. The Usage Fees may be changed from time to time by the Licensor upon sixty (60) days prior written notice to the Licensee. Any Usage Fee or other payment required of Licensee under this Agreement, if not paid within ten (10) days after it is due, shall bear interest at the rate of nine percent (9%) per annum (but not in any event at a rate greater than the maximum rate of interest permitted by law) from the due date until paid. Licensor may also assess and collect a late charge equal to five percent (5%) of the late payment, in addition to the above-referenced interest, as well as enforce all other remedies available for Licensee’s default. Collection of a late charge shall not be in lieu of nor shall it waive the breach caused by the late payment.
Appears in 1 contract
Sources: Facilities Use Agreement