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Late Charge
Late Charge contract clause examples
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On a Development Candidate-by-Development Candidate basis, each Party will share with the other Party all safety and efficacy data generated with respect to such Development Candidate in all Clinical Trial(s) after the Qualifying Phase 1 Clinical Trial for such Development Candidate, and all correspondence to and from any Regulatory Authority regarding such Development Candidate and, upon either Party’s written request, such other relevant information reasonably requested by such Party regarding the Development Candidate in the other Party’s possession (but subject to Third Party confidentiality obligations) (collectively, “Late Clinical Development Trial Data”), following such Party’s receipt of same. Each Party will in good faith seek to obtain such information and make it available to the other Party.

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.

If any installment of Rent or any other sum due from [[Tenant:Organization]] shall not be received by [[Landlord:Organization]] or [[Landlord:Organization]]’s designee within five (5) business days after [[Tenant:Organization]]’s receipt of written notice from [[Landlord:Organization]] that said amount is past due, then [[Tenant:Organization]] shall pay to [[Landlord:Organization]] a late charge equal to five percent (5%) of the overdue amount plus any reasonable attorneys’ fees incurred by [[Landlord:Organization]] by reason of [[Tenant:Organization]]’s failure to pay Rent and/or other charges when due; provided, however, that [[Tenant:Organization]] shall be entitled to notice of nonpayment and a five (5) day grace period, prior to the application of such late charge, with respect to the first (1st) occasion in any calendar year in which any installment of Rent is not timely paid. The late charge shall be deemed Additional Rent and the right to require it shall be in addition to all of [[Landlord:Organization]]’s other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting [[Landlord:Organization]]’s remedies in any manner. In addition to the late charge described above, any Rent or other amounts owing hereunder which are not paid within ten (10) days after the date they are due shall bear interest from the date when due until paid at a rate per annum equal to the lesser of

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.

Fixed Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio of not less than 1.25 to 1 as tested quarterly on a trailing twelve-month basis, starting December 31, 2019.

Fixed Charge Coverage Ratio. The Borrower will not permit the Fixed Charge Coverage Ratio, on the last day of any fiscal quarter of the Borrower, commencing with the fiscal quarter ending December 31, 2023 and each fiscal quarter thereafter during the term of this Agreement and calculated for the period of the four consecutive fiscal quarters ending on such date, to be less than 1.25 to 1.00.

Minimum Fixed Charge Coverage Ratio. At any time that (and for so long as) Excess Availability is less than the greater of # an amount equal to ten (10%) percent of the Total Borrowing Base and # $80,000,000 (a “Financial Covenant Triggering Event”), the Fixed Charge Coverage Ratio of Borrowers (on a combined basis) for the most recently ended twelve (12) month period for which Administrative Agent has received financial statements of Borrowers (commencing with the most recently ended twelve (12) month period immediately preceding the date on which a Financial Covenant Triggering Event first occurs for which Administrative Agent has received financial statements of Borrowers) and for each twelve (12) month period thereafter for which Administrative Agent has received financial statements of Borrowers shall be greater than 1.00 to 1:00. To the extent that a Financial Covenant Triggering Event has occurred, if Excess Availability shall thereafter be equal to or greater than the greater of # an amount equal to ten (10%) percent of the Total Borrowing Base and # $80,000,000 for at least thirty (30) consecutive days, then the Financial Covenant Triggering Event shall no

Minimum Fixed Charge Coverage Ratio. Not permit the Fixed Charge Coverage Ratio for any Computation Period referenced below to be less than the applicable amount set forth below:

Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio, determined # as of the last day of the Measurement Period, i.e., the Fiscal Quarter most recently ended, before, or concurrent with, the commencement of a Fixed Charge Trigger Period and # on the last day of each Measurement Period thereafter during the continuance of any Fixed Charge Trigger Period, to be less than 1.00 to 1.00 for such Measurement Period.

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