Example ContractsClausesLate Charge
Late Charge
Late Charge contract clause examples

Late Charge. If Borrower fails to pay, within five (5) days of its due date, any amount due and owing pursuant to this Note or any other agreement executed and delivered to the [[Lender:Organization]] in connection with this Note, including, without limitation, any Escrow payment due and owing, Borrower shall immediately pay to the [[Lender:Organization]] a late charge equal to the greatest of # $50.00, # five percent (5%) of the delinquent amount or # the [[Lender:Organization]]’s then current late charge as announced from time to time. Notwithstanding the above, if this Note is secured by a one- to six-family owner-occupied residence, the late charge shall equal 2% of the delinquent amount and shall be payable if payment is not received within fifteen days of its due date.

Late Payment of Rent. If any installment of Rent, Additional Rent, Subtenant TI Cost Reimbursement, or any other sum due from Subtenant hereunder shall not be received by Sublandlord within five (5) days after such amount shall be due, then, without any requirement for notice to Subtenant, Subtenant shall pay to Sublandlord a late charge equal to five percent (5%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Sublandlord will incur by reason of late payment by Subtenant.

Late Payments. In the event that any payment due hereunder is not made when due, the payment shall accrue interest beginning on the tenth (20th) day following the due date thereof, calculated at the annual rate of the sum of # ​ plus # the prime interest rate quoted by The Wall Street Journal on the date said payment is due, the interest being compounded on the last day of each Calendar Quarter; provided however, that in no event shall said annual interest rate exceed the maximum legal interest rate. Each such payment when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not negate or waive the right of either

Late Fees. The termination right in this [Article 23.0], plus late payment charges calculated in accordance with Article 6.7, shall be the Contractor’s exclusive remedies for payment default by Customer.

Late Fees. If the Tenant does not pay in full the amounts set forth in subsection # within 5 days after its due date, the Tenant shall pay a late fee of $2000. Total late fees for any given month may not exceed the maximum amount allowable under state law. If any late payment fee under this subsection exceeds an amount specifically set by state law, or local regulation or ordinance, this subsection shall be amended automatically to reflect the maximum amount allowable, without the consent of the parties. The parties agree that all late payments pursuant to this subsection represent a reasonable approximation of the damages the Landlord is likely to suffer from those late payments. Notwithstanding this subsection, the Landlord does not waive any right to insist on full payment of all amounts due under this Lease on their due dates. (c) Insufficient Funds Fees/Bank Fees. The Tenant will be charged a fee for each personal check that is returned to the Landlord for lack of sufficient funds, “stop payment,” or other reason. This fee will be in the amount of the actual charge for a returned check imposed on the Landlord by the Landlord’s financial institution. Unless limited by applicable laws or regulations, if the Tenant’s personal check is returned because of insufficient funds, the Landlord may demand that all future Rent be paid with cashier’s check.

Late Payments. If Companies fail to pay when due any amount provided under this Agreement, Companies shall pay to the Executive interest on any outstanding amount, at an annual rate of 12%, compounded semi-annually.

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest will thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate of ​ above the prime rate as reported in The Wall Street Journal, Eastern Edition, or the maximum rate allowable by Applicable Law, whichever is less.

if any installment is more than ten (10) days past due, the right to collect a charge equal to the greater of Fifteen and 00/100 Dollars ($15.00) or five percent (5%) of the late payment for each month in which it is late. This charge is a result of a reasonable endeavor by Borrower and the holder to estimate the holder's added legal and other costs and damages resulting from Borrower's failure to make timely payments under this Note; hence Borrower agrees that the charge shall be presumed to be the amount of damage sustained by the holder since it is extremely difficult to determine the actual amount necessary to reimburse the holder for damages.

In the event [[Organization B:Organization]] fails to pay the [[Organization A:Organization]] when due any installment of rental or other sum to be paid to [[Organization A:Organization]] which may become due hereunder, [[Organization A:Organization]] will incur additional expenses in an amount not readily ascertainable and which has not been elsewhere provided for between [[Organization A:Organization]] and [[Organization B:Organization]]. Therefore, if [[Organization B:Organization]] should fail to pay [[Organization A:Organization]] when due any monthly payment or other sum to be paid hereunder, [[Organization B:Organization]] will pay [[Organization A:Organization]] a late charge of five (5%) percent thereof. Failure to pay such late charge upon demand therefore shall be an event of default hereunder. Provision for such late charge shall be in addition to all other rights and remedies available to [[Organization A:Organization]] hereunder or at law or in equity and shall not be construed as liquidated damages or limiting [[Organization A:Organization]]'s remedies in any manner.

Compliance with Usury Laws. The Mortgage Rate (exclusive of any default interest, late charges, yield maintenance charge, or prepayment premiums) of such Mortgage Loan complied as of the date of origination with, or was exempt from, applicable state or federal laws, regulations and other requirements pertaining to usury.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.