What is the Christian Brothers Automotive tenant's obligation regarding the payment of late charges?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
rent shall be due on the Commencement Date (subject to the provisions of subsection (e), below), and shall be prorated for the actual number of days in such calendar month following the Commencement Date. If all rent is not paid on or before the 10th day of each month thereafter, Tenant must pay a late charge of $200.00 plus $10 per day until all past due rent is paid, and for the avoidance of doubt, Tenant shall be responsible for any late fees due under the Master Lease, to the extent that Tenant's delinquency causes Lessor to be delinquent in payment of r
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to the 2025 Christian Brothers Automotive Franchise Disclosure Document, if a tenant does not pay their rent on or before the 10th day of each month, they must pay a late charge. This late charge consists of $200.00 plus an additional $10 per day until the full past due rent amount is paid.
Furthermore, the Christian Brothers Automotive tenant is responsible for any late fees due under the Master Lease. This occurs if the tenant's delinquency causes the Lessor to be delinquent in their payment of rent under the Master Lease.
In addition to late rent payments, Christian Brothers Automotive tenants also agree to pay a $20.00 charge for each rent check that is returned unpaid. Delinquent charges will accrue as if no check had been given until the check is made good.