Pre-Closing Expenses means any accounts payable of the Company incurred prior to the Closing Date or allocable to time periods prior to the Closing Date, but excluding the Asset Retirement Obligation and the Cessation Accrual.
Within thirty (30) days after the Closing Date, Buyer will provide Seller with Buyer's written determination of the actual amount of the Buyer Paid Pre-Closing Expenses.
The Company will have delivered to Buyer written evidence, satisfactory to the Buyer in its sole and absolute discretion, of the payment of all Pre-Closing Expenses.
Not later than 60 days after the Closing Date, the parties shall determine the amounts of Net Pre-Closing Commissions, Unpaid Pre-Closing Expenses, Cash Surplus (if any) and Cash Deficit (if any) (each as defined below).
Promptly following the execution of this Agreement, the Company shall pay all obligations identified on Schedule 5.07 attached hereto, together with any charges, assessments or late fees associated with the late payment thereof (Pre-Closing Expenses).
In the event the transactions contemplated hereby are fully consummated, then the Buyer shall bear the expense of the transaction, including expenses of counsel and other agents incurred by the Buyer before the closing (the "Pre-Closing Expenses").