Common use of Year 2000 Issue Clause in Contracts

Year 2000 Issue. The Company and its Subsidiaries have reviewed the effect of the year 2000 Issue on the computer software, hardware, and firmware systems and equipment containing embedded microchips owned or operated by or for the Company and its Subsidiaries or used or relied upon in the conduct of their business (including systems and equipment supplied by others or with which such computer systems of the Company and its Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that the costs to the Company and its Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year 2000 Issue to the Company or any of its Subsidiaries (including reprogramming errors and the failure of systems or equipment supplied by others), are not reasonably expected to result in a Default or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its Subsidiaries.

Appears in 2 contracts

Samples: Credit and Security Agreement (First NLC Financial Services Inc), Warehousing Credit and Security Agreement (BNC Mortgage Inc)

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Year 2000 Issue. The Company Each of the Borrower and its each of the Material Subsidiaries have has reviewed the effect of the year Year 2000 Issue on the computer software, hardware, hardware and firmware systems and equipment containing embedded microchips owned or operated by or for the Company Borrower and its Subsidiaries each Material Subsidiary or used or relied upon in the conduct of their business (including systems and equipment supplied by others or with which such computer systems of the Company Borrower and its the Material Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that the costs to the Company Borrower and its the Material Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year Year 2000 Issue to the Company Borrower or any of its the Material Subsidiaries (including reprogramming errors and the failure of systems or equipment supplied by others), ) are not reasonably expected to result in a Default or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its SubsidiariesMaterial Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Cleco Utility Group Inc), Credit Agreement (Cleco Utility Group Inc)

Year 2000 Issue. The Company Each of the Borrower and its each of the Significant Subsidiaries have has reviewed the effect of the year Year 2000 Issue on the computer software, hardware, hardware and firmware systems and equipment containing embedded microchips owned or operated by or for the Company Borrower and its Subsidiaries each Subsidiary or used or relied upon in the conduct of their business (including systems and equipment supplied by others or with which such computer systems of the Company Borrower and its the Significant Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that the costs to the Company Borrower and its the Significant Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year Year 2000 Issue to the Company Borrower or any of its the Significant Subsidiaries (including reprogramming errors and the failure of systems or equipment supplied by others), ) are not reasonably expected to result in a Default or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its SubsidiariesMaterial Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (CMP Group Inc)

Year 2000 Issue. The Company Each of the Borrower and each of its Subsidiaries have has reviewed the effect of the year Year 2000 Issue on the computer software, hardware, hardware and firmware systems and equipment containing embedded microchips owned or operated by or for the Company Borrower and its Subsidiaries each Subsidiary or used or relied upon in the conduct of their business (including systems and equipment supplied by others or with which such computer systems of the Company Borrower and its the Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that the costs to the Company Borrower and its the Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year Year 2000 Issue to the Company Borrower or any of its the Subsidiaries (including reprogramming errors and the failure of systems or equipment supplied by others), ) are not reasonably expected to result in a Default De fault or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its SubsidiariesMaterial Adverse Effect.

Appears in 1 contract

Samples: Day Credit Agreement (Cleco Corp)

Year 2000 Issue. The Company Borrower and its Subsidiaries have reviewed are addressing the effect of the year Year 2000 Issue on the computer software, hardware, hardware and firmware systems and equipment containing embedded microchips owned or operated by or for the Company Borrower and its Subsidiaries or used or relied upon in the conduct of their business (including systems and equipment supplied by others or with which such computer systems of the Company Borrower and its Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that the costs to the Company Borrower and its Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year Year 2000 Issue to the Company Borrower or any of its Subsidiaries (including reprogramming errors and the failure of systems or equipment supplied by others), ) are not reasonably expected to result in a Default or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its SubsidiariesMaterial Adverse Effect.

Appears in 1 contract

Samples: Loan Agreement (Griffon Corp)

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Year 2000 Issue. The Company and its Subsidiaries have reviewed Borrower is reviewing the effect of the year Year 2000 Issue on the computer software, hardware, hardware and firmware systems and equipment containing embedded microchips owned or operated by or for the Company Borrower and its Subsidiaries each Subsidiary or used or relied upon in the conduct of their business (including - 43 - Credit Agreement ---------------- systems and equipment supplied by others or with which such computer systems of the Company Borrower and its the Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that To the Borrower's knowledge, the costs to the Company Borrower and its the Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year Year 2000 Issue to the Company Borrower or any of its Subsidiaries Subsidiary (including reprogramming errors and the failure of systems or equipment supplied by others), ) are not reasonably expected to result in a Default or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its SubsidiariesMaterial Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Insight Communications Co Inc)

Year 2000 Issue. The Company and its Subsidiaries have reviewed the --------------- effect of the year 2000 Issue on the computer software, hardware, and firmware systems and equipment containing embedded microchips owned or operated by or for the Company and its Subsidiaries or used or relied upon in the conduct of their business (including systems and equipment supplied by others or with which such computer systems of the Company and its Subsidiaries interface). The Company and its Subsidiaries have reviewed and determined that the costs to the Company and its Subsidiaries of any reprogramming required as a result of the Year 2000 Issue to permit the proper functioning of such systems and equipment and the proper processing of data, and the testing of such reprogramming, and of the reasonably foreseeable consequences of the year 2000 Issue to the Company or any of its Subsidiaries (including reprogramming errors and the failure of systems or equipment supplied by others), are not reasonably expected to result in a Default or Event of Default or to have a material adverse effect on the business, assets, operations, prospects, or condition (financial or otherwise) of the Company or its Subsidiaries.

Appears in 1 contract

Samples: Credit and Security Agreement (Iown Holdings Inc)

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