Year 2000 Covenant. Borrower shall ensure that the following are Year 2000 Compliant in a timely manner, but in no event later than December 31, 1999:
(a) Borrower itself; and (b) any other major commercial properties and entities in which Borrower holds a controlling interest. Borrower shall further make reasonable inquiries of and request reasonable validation that each of the following are similarly Year 2000 Compliant: (x) all major tenants or other entities from which Borrower receives payments; and (y) all major contractors, suppliers, service providers and vendors of Borrower. As used in this paragraph, "major" shall mean properties or entities the failure of which to be Year 2000 Compliant would have a material adverse economic impact upon Borrower. The term "Year 2000 Compliant" shall mean, in regard to any property or entity, that all software, hardware, equipment, goods or systems utilized by or material to the physical operations, business operations, or financial reporting of such property or entity (collectively, the "systems") will properly perform date sensitive functions before, during and after the year 2000. In furtherance of this covenant, Borrower shall, in addition to any other necessary actions, perform a comprehensive review and assessment of all systems of Borrower, and shall adopt a detailed plan, with itemized budget, for the testing, remediation, and monitoring of such systems. Borrower shall, within thirty business days of Lender's written request, provide to Lender such certifications or other evidence of Borrower's compliance with the terms of this paragraph as Lender may from time to time reasonably require.
Year 2000 Covenant. Borrower has reviewed, or will expeditiously review, its operations and those of Guarantors, suppliers and customers with a view to assessing whether its businesses, or the businesses of any of Guarantors, will be vulnerable to a Year 2000 Problem or will be vulnerable to the effects of a Year 2000 Problem suffered by any of Borrower's or any of the Guarantor's major commercial counter-parties. Borrower shall take all actions necessary and commit adequate resources to assure that its computer-based and other systems (and those of all Guarantors) are able to effectively process data, including dates before, on and after January 1, 2000, without experiencing any Year 2000 Problem that could cause a Material Adverse Effect. At the request of Lenders, Borrower will provide Lenders with assurances and substantiations (including, but not limited to, the results of internal or external audit reports prepared in the ordinary course of business) reasonably acceptable to Lenders as to the capability of Borrower and Guarantors to conduct its and their businesses and operations before, on and after January 1, 2000 without experiencing a Year 2000 Problem causing a Material Adverse Effect. Borrower represents and warrants that it has a reasonable basis to believe that no Year 2000 Problem will cause a Material Adverse Effect.
Year 2000 Covenant. The Company undertakes to promptly inform the Purchasers of any material deficiency or expected cost in complying with the "Year 2000" problem.
Year 2000 Covenant. Company shall perform all acts reasonably necessary to ensure that Company and its Subsidiaries become Year 2000 Compliant. Such acts shall include, without limitation, performing a comprehensive review and assessment of all of Company's systems (including the interface of those systems with the systems of material suppliers, vendors and customers) and adopting a detailed plan, with itemized budget, for the remediation, monitoring and testing of such systems. As used in this subsection 6.11, "Year 2000 Compliant" shall mean, in regard to Company and its Subsidiaries, that all software, hardware, firmware, equipment, goods or systems utilized by Company and its Subsidiaries, the failure of which would reasonably be expected to have a Material Adverse Effect, will properly perform date sensitive functions before, during and after the year 2000. Company shall, promptly upon request, provide to Administrative Agent such certifications or other reasonable evidence of Company's compliance with the terms of this paragraph as Administrative Agent may from time to time reasonably require.
Year 2000 Covenant. The Company shall take, and shall cause each of its Subsidiaries to take, all necessary action to complete in all material respects by September 30, 1999, the reprogramming of computer software, hardware and firmware systems and equipment containing embedded microchips owned or operated by or for the Company and its Subsidiaries required as a result of the Year 2000 Issue to permit the proper functioning of such computer systems and other equipment and the testing of such systems and equipment, as so reprogrammed, other than action for which the failure to complete would not have a Material Adverse Effect on the business, properties, condition (financial or otherwise) or operations of the Company and its Subsidiaries, taken as a whole. At the request of the Agent, the Company shall provide, and shall cause each of its Subsidiaries to provide, to the Agent reasonable assurance of compliance with the preceding sentence.
Year 2000 Covenant. The Transferor will promptly notify the Agent in the event the Transferor discovers or determines that any computer application (including those of its suppliers, vendors and customers) that is necessary for the origination, collection, management, or servicing of the Receivable will not be Year 2000 Compliant on or before January 1st, 1999 and thereafter. The Transferor will deliver simultaneously with any quarterly or annual financial statements or reports to be delivered under the Agreement, a letter signed by an appropriate officer that no material event, problems or conditions have occurred which would prevent or delay the Transferor's plan to become Year 2000 Compliant.
Year 2000 Covenant. The Borrower shall reasonably take appropriate actions to ensure that the Borrower and its Subsidiaries are Year 2000 Compliant in a timely manner, but in no event later than June 30, 1999, except to the extent that the failure to be Year 2000 Compliant could not reasonably be expected to have a material adverse effect on the Borrower's or its Subsidiaries' business and operations or to have a material adverse economic impact upon the Borrower or its Subsidiaries. The term "Year 2000 Compliant" shall mean, in regard to any property or entity, that all software, hardware, equipment, goods or systems utilized by or material to the physical operations, business operations, or financial reporting of such property or entity (collectively, the "Systems") will properly perform date sensitive functions before, during and after the year 2000. In furtherance of this covenant, the Borrower, in addition to any other necessary actions, shall perform a comprehensive review and assessment of all material Systems of the Borrower and its Subsidiaries, and shall adopt a detailed plan, with itemized budget, for the testing, remediation, and monitoring of such Systems. In addition, the Borrower shall make reasonable inquiries of and request reasonable validation that each of the following are similarly Year 2000 Compliant:
Year 2000 Covenant. The Company shall provide, and shall cause each of the Subsidiaries to provide, reasonable assurance of compliance with the representations and warranties contained in SECTION 6.1(u) to the Agent at its request or the request of the Required Lenders (and, in the case of any such request by the Required Lenders, the Agent shall provide a copy thereof to each Bank).
Year 2000 Covenant. Borrower shall perform all acts reasonably necessary to ensure that (i) Borrower and any business in which Borrower holds a substantial interest, and (ii) all customers, suppliers and vendors that are material to Borrower's business, become Year 2000 Compliant in a timely manner. Such acts shall include, without limitation, performing a comprehensive review and assessment of all of Borrower's systems and adopting a detailed plan, with itemized budget, for the remediation, monitoring and testing of such systems. As used in this paragraph, "Year 2000 Compliant" shall mean, in regard to any entity, that all software, hardware, firmware, equipment, fixtures, goods or systems utilized by or material to the business operations or financial condition of such entity, will properly perform date sensitive functions before, during and after the year 2000. Borrower shall, immediately upon request, provide to Lender such certifications or other evidence of Borrower's compliance with the terms of this paragraph as Lender may from time to time require. [The remainder of this page is intentionally left blank.]
Year 2000 Covenant. Borrower agrees to perform all acts reasonably necessary to ensure that (a) Borrower and any business in which Borrower holds a substantial interest, and (b) all customers, suppliers and vendors that are material to Borrower's business, become Year 2000 Compliant in a timely manner. Such acts shall include, without limitation, performing a comprehensive review and assessment of all of Borrower's systems and adopting a detailed plan, with itemized budget, for the remediation, monitoring and testing of such systems. As used herein, "Year 2000 Compliant" shall mean, in regard to any entity, that all software, hardware, firmware, equipment, goods or systems utilized by or material to the business operations or financial condition of such entity, will properly perform date sensitive functions before, during and after the year 2000. Borrower shall, immediately upon request, provide to Bank such certifications or other evidence of Borrower's compliance with the terms hereof as Bank may from time to time require.
