AgdaPkt 2005-09-12 - Laserfiche WebLink

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&.Ir-Itl 2.6 Interest and Late Charges. If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law, (currently 10%). Tenant acknowledges that the late payment of any monthly Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including, without limitation, administrative and collection costs and processing and account expenses, the exact amount of which it is difficult to ascertain. Interest shall not begin to accrue until the sixth (6th) business day that the amounts due remain unpaid. Therefore, in addition to interest, if any such installment is not received by Landlord within five (5) business days from the date it is due, Tenant shall pay Landlord a late charge equal to five_percent (5%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. In addition, any check returned by the bank for any reason will be considered late and will be subject to all late charges plus a Twenty Dollar ($20.00) fee. After two (2) such occasions in any twelve (12) month period, Landlord will have the right to require payment by a Cashier's Check or Money Order. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under Article 7 of this Lease. ARTICLE 3: AFFIRMATIVE OBLIGATIONS 3.1 Landlord's Compliance with Laws. Landlord warrants that on the Commencement Date the Premises