What happens if an Amerispec Inspection Services royalty payment is overdue?

the Company in the manuals or otherwise in writing for the preceding calendar month, and shall be submitted to the Company together with any monthly reports required under this Agreement. Any payment or report not actually received by the Company on or before such date shall be deemed overdue. If any payment is overdue, the Franchisee shall pay the Company, in addition to the overdue amount, interest on such amount from the date it was due until paid at the rate of 1.5% per month or the maximum rate permitted by law, whichever is less. If any report is overdue, the Franchisee shall pay to the Company a delinquency fee of $50.00 per delinquent report. Entitlement to such interest and/or the delinquency fee shall be in addition to any other remedies the Company may have. The Franchisee understands that the Company may, at the Company's discretion, assign the payment of such fees and the submission of the monthly reports to a third party.

• 5.3 Required Payment Method. The Franchisee must participate in the Company's then-current electronic funds transfer and reporting program(s). Franchisee must report monthly Gross Receipts and monthly Royalties as well as National Advertising Fund Contributions due via online reporting by the dates specified by the Company from time to time in the manuals or otherwise in writing. All monthly Royalties and National Advertising Fund Contributions (the "Monthly Fees") owed and any other amounts designated by Company must be received or credited to Company's account by pre-authorized bank debit (or in any other manner as designated by the Company) by end of business on the Due Date set forth in Paragraph 5.2 above. If Franchisee fails to have sufficient funds available to pay any Monthly Fees, interest and delinquency fees will be

Source: Item 23 — Receipts (FDD pages 47–172)