Fixed Payments. (a) Operator shall owe RIN the sum of $1,000,000 as soon as the Number of Active Real Property Ads shall exceed 1,300,000. Such sum shall be paid to RIN in thirty-six equal monthly installments of principal plus interest at the Prime Rate, with the first such installment to commence on the thirtieth day following the date on which the Number of Active Real Property Ads shall exceed 1,300,000; provided, however, that if (i) Operator (or Parent) raises more than $7 million (after deduction of underwriters' discounts and commissions) from an offering of its stock (or the stock of Parent) or (ii) Operator generates Free Operating Cash Flow of at least $4 million, then the unpaid balance of such installments shall be paid in full within fifteen days following the receipt by Operator (or Parent) of the proceeds of such stock offering or within sixty days after the end of the calendar quarter in which the Free Operating Cash Flow equals or exceeds $4 million, as applicable.
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Samples: Operating Agreement, Operating Agreement, Operating Agreement
Fixed Payments. (a) Operator shall owe RIN the sum of $1,000,000 as -------------- soon as the Number of Active Real Property Ads shall exceed 1,300,000. Such sum shall be paid to RIN in thirty-six equal monthly installments of principal plus interest at the Prime Rate, with the first such installment to commence on the thirtieth day following the date on which the Number of Active Real Property Ads shall exceed 1,300,000; provided, however, that if (i) Operator (or Parent) -------- ------- raises more than $7 million (after deduction of underwriters' discounts and commissions) from an offering of its stock (or the stock of Parent) or (ii) Operator generates Free Operating Cash Flow of at least $4 million, then the unpaid balance of such installments shall be paid in full within fifteen days following the receipt by Operator (or Parent) of the proceeds of such stock offering or within sixty days after the end of the calendar quarter in which the Free Operating Cash Flow equals or exceeds $4 million, as applicable.
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