Weekly Reconciliation; Progress Updates on A/P Payoffs Sample Clauses

Weekly Reconciliation; Progress Updates on A/P Payoffs. Commencing during the week of May 18, 2009, and weekly thereafter or on such other periodic basis as the parties hereto shall agree, and for so long as is reasonably necessary to accomplish the objectives set forth in this subsection, a representative of the Buyer and representative of the Stockholder shall meet on such basis as they shall decide (whether in person, telephonically or electronically via e-mail) in an effort to reconcile the various obligations of the parties under this Agreement, including without limitation, the allocation of cash in the Corporation, the distribution of proceeds from accounts receivable, the status of payoffs of accounts payable, the settlement and proper allocation of pre-Closing and post-Closing expenses (such as rent and similar expenses), including expenses paid by one party which should properly be allocated to the other party, adjustments for the underpayment of any liabilities which should have been paid in full at Closing, etc. Such representatives may establish whatever procedures and worksheets for such reconciliation as they may reasonably determine. The Stockholder shall prepare and submit to Buyer, on those dates which are thirty (30), sixty (60), ninety (90) and one hundred ten (110) days from the Closing Date, a detailed written status update on the progress made to date in the payment of all of the accounts payable required to be paid off pursuant to Section 3.f hereof (each, an “A/P Status Report”). Stockholder covenants and agrees that each A/P Status Report will confirm to Buyer that Stockholder, Arcadia Resources, Inc. and RKDA, Inc. have been diligent in their efforts to pay off such accounts payable and that such obligated entities have made a reasonable effort to cause such accounts payable to be paid off on a timely basis.