Approximately £000 per month per apartment (the exact initial amount shall be determined on commencement of the obligation to pay the Maintenance Fee) or such amount to be determined by the Management Company in accordance with this Agreement. The obligation to pay maintenance commences on the date on which the Property is delivered or deemed to be delivered to the Purchaser under the terms of the Contract of Sale, whichever is the soonest, and a 0 (four) month down payment shall be paid on this date. The Maintenance Fee is payable in respect of the whole of the month in which the Property is delivered or deemed to be delivered to the Purchaser under the terms of the Contract of Sale. In the event that the delivery or deemed delivery date does not coincide with the beginning of the month, the maintenance fee will not be calculated pro rata on a daily basis and no deductions will be applied whatsoever in respect of the days of that month prior to the delivery or deemed delivery date. Thereafter, the maintenance payment shall be made on a monthly basis on the 0st day of each month with 0 days’ grace. Alternatively, the maintenance payment can be made in one lump sum payment for the entire year on 0st January each year with 0 days’ grace, in which case a 0% discount will be applied to the Maintenance Fee. All payments must be made to the bank account of the Management Company, details of which are attached to and form part of this Agreement or in cash or by credit card to the maintenance office. All bank charges and/or credit card surcharges are payable by the Resident. Interest on late payments will be charged at the rate of 00% per annum calculated on a daily rate for each day of delay in accordance with clause 0.0 below.