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 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 has been substantially 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. The computer systems of the Borrower and its Subsidiaries are and, with ordinary course of upgrading and maintenance, will continue for the term of this Agreement to be sufficient for the conduct of their business as currently conducted.

Year 2000 Matters. Any reprogramming required to permit the proper functioning (but only to the extent that such 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 Parent or any of its Subsidiaries has been will be substantially completedcompleted by June 30, 1999. The costs to the Borrower Parent 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. The Except for any reprogramming referred to above, the computer systems of the Borrower Parent and its Subsidiaries are and, with ordinary course of upgrading and maintenance, will continue for the term of this Agreement to be sufficient for the conduct of their business as currently conducted.