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PREPARATION OF THE WORK SCHEDULE Following the execution of the letter of intent, one of the first responsibilities of the purchaser's legal counsel is to prepare a comprehensive schedule of activities (work schedule) that will serve as a task checklist and assignment of responsibilities. This schedule should be prepared well before the due diligence discussed in Chapter 5 begins. The primary purpose of the schedule is to outline all of the events that must occur and the documents that must be prepared prior to the closing date and beyond. In this regard, purchaser's legal counsel acts as an orchestra leader, assigning primary areas of responsibility to the various members of the acquisition team as well as to the seller and its counsel. Purchaser's counsel must also act as a taskmaster to ensure that the timetable for closing is met. Once all tasks have been identified and assigned, and a realistic timetable for completion has been established, then a firm closing time and date can be preliminarily determined.