Common use of Year 2000 Matters Clause in Contracts

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded microchips, in either case owned or operated by the Borrower or any of its Subsidiaries or used or relied upon in the conduct of their business (including any such systems and other equipment supplied by others), and the testing of all such systems and other equipment as so reprogrammed, will be completed by June 30, 1999. The costs to the Borrower and its Subsidiaries that have not been incurred as of the date hereof for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the computer systems of the Borrower and its Subsidiaries are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (Victory Finance Inc)

AutoNDA by SimpleDocs

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded microchips, in either case owned or operated by the Borrower or any of its Domestic Subsidiaries or used or relied upon in the conduct of their business (including any such systems and other equipment supplied by others), and the testing of all such systems and other equipment as so reprogrammed, will be has been completed by June 30, 1999as of the date hereof. The costs to the Borrower and its Domestic Subsidiaries that have not been incurred as of the date hereof Closing Date for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the computer systems of the Borrower and its Domestic Subsidiaries are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (General Bearing Corp)

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded microchips, in either case owned or operated by the Borrower or any of its Subsidiaries Credit Party or used or relied upon in the conduct of their business (including any such systems and other equipment supplied by othersothers or with which the computer systems of any Credit Party interface), and the testing of all such systems and other equipment as so reprogrammed, will be completed by June 30, 1999has been completed. The costs to the Borrower and its Subsidiaries Credit Parties that have not been incurred as of the date hereof for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or of Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the computer systems of the Borrower and its Subsidiaries Credit Parties are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects be sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (Hallwood Group Inc)

Year 2000 Matters. Any reprogramming required to permit the ----------------- proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded microchips, in either case owned or operated by Holdings, the Borrower or any of its Subsidiaries or used or relied upon in the conduct of their business (including any such systems and other equipment supplied by others)business, and the testing of all such systems and other equipment as so reprogrammed, will be completed by June 30December 31, 1999. The costs to Holdings, the Borrower and its Subsidiaries that have not been incurred as of the date hereof for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the computer systems of Holdings, the Borrower and its Subsidiaries are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (Specrite Brake Co)

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded microchips, in either case owned or operated by the Borrower or any of its Subsidiaries or used or relied upon in the conduct of their business (including any such systems and other equipment supplied by othersothers or with which the computer systems of the Borrower or any of its Subsidiaries interface), and the testing of all such systems and other equipment as so reprogrammed, will be completed by June 30, 1999has been completed. The costs to the Borrower and its Subsidiaries that have not been incurred as of the date hereof for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the The computer systems of the Borrower and its Subsidiaries are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (Waddell & Reed Financial Inc)

AutoNDA by SimpleDocs

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded microchips, in either case owned or operated by the Borrower or any of its Subsidiaries or used or relied upon in the conduct of their business (including any such systems and other equipment supplied by others), and the testing of all such systems and other equipment as so reprogrammed, will have been completed, except to the extent that the failure to do so could not reasonably be completed by June 30, 1999expected to have a Material Adverse Effect. The costs to the Borrower and its Subsidiaries that have not been incurred as of the date hereof for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the The computer systems of the Borrower and its Subsidiaries are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (Claires Stores Inc)

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such proper functioning would otherwise be impaired by the occurrence of the year 2000) in and following the year 2000 of computer systems and other equipment containing embedded imbedded microchips, in either case owned or operated by the Borrower or any of its Subsidiaries Credit Party or used or relied upon in the conduct of their business (including including, to Parent's and any Borrower's knowledge, any such systems and other equipment supplied by othersothers or with which the computer systems of any Credit Party interface), and the testing of all such systems and other equipment as so reprogrammed, will be completed by June 30, 1999was timely completed. The costs to the Borrower Borrowers and its Subsidiaries any other Credit Party that have not been incurred as of the date hereof for such reprogramming and testing and for the other reasonably foreseeable consequences to them of any improper functioning of other computer systems and equipment containing embedded microchips due to the occurrence of the year 2000 could not reasonably be expected to result in a Default or Event of Default or to have a Material Adverse Effect. Except for any reprogramming referred to above, the computer systems of the Borrower and its Subsidiaries each Credit Party are and, with ordinary course upgrading and maintenance, will continue for 61 56 the term of this Agreement to be, in all material respects be sufficient for the conduct of their business as currently conducted.

Appears in 1 contract

Samples: Credit Agreement (Prize Energy Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!