Purpose of Reconciliation Sample Clauses

Purpose of Reconciliation. 10 7. Payment of Certain Expenses at or after Closing.....................................11 8.

Purpose of Reconciliation. The parties acknowledge and agree that the Final Reconciliation or the items described therein, is being calculated on a cash basis and that for purposes of calculating the Final Reconciliation, the various components of the foregoing calculation [excluding Section 6(a)(ii) and Section 6(a)(v) above] will be calculated on a cash basis consistent with the payment obligations of Hem-Onc to Response described in Section 2(b) above, instead of the accrual method of accounting. In addition, the parties agree that for the purposes of the foregoing calculation, post-petition Clinic Expenses (incurred after December 31, 2001), Physician Expenses and Capital Expenditures will be deemed paid once a check is processed and mailed by Response (or wire-transfer is sent) relating to such expenses and such expenses will continue to be the responsibility of Response after the Closing if such expenses are included in the Final Reconciliation pursuant to Sections 6(a)(iii) or (v). For purposes of calculating the Final Reconciliation, Cash Collections will include, in addition to all collections received and paid or transferred to Response during the Reconciliation Period, any and all collections relating to Practice Revenues which are associated with deposits in Hem-Onc's bank accounts as of December 31, 2001, and which are paid or transferred to Response or deposited or swept to a Response bank account on or after January 1, 2002.