Common use of Year 2000 Preparedness Clause in Contracts

Year 2000 Preparedness. EQ Financial represents and warrants that The Equitable Life Assurance Society of the United States ("Equitable"), EQ Financial's sole shareholder, has adopted a written plan (the "Plan"), for Year 2000 compliance for the correct operation of its computer systems and the computer systems, if any, of its subsidiaries, including EQ Financial (the "Equitable Computer Systems"), that the Plan provides for the identification, testing and, where appropriate, upgrading of the Equitable Computer Systems in accordance with reasonable industry standards, so that both the Equitable Computer Systems and their interfaces with third party computer systems will function accurately and without interruption before, during and after December 31, 1999, that Equitable is actively in the process of implementing the Plan and that EQ Financial presently has no reason to believe that the Equitable Computer Systems and their interfaces with third party computer systems will not be able to function accurately and without interruption before, during and after such date. EQ Financial covenants that Equitable will continue to implement the Plan and take such other steps as may be necessary and appropriate to be Year 2000 compliant in a timely and efficient manner and will promptly notify the Board of Trustees of the Trust of any Year 2000 compliance problems and the nature thereof on or before September 1, 1999 if EQ Financial determines that the Equitable Computer Systems are not or is not likely to be Year 2000 compliant in a timely and efficient manner. EQ Financial further represents and warrants that it will provide the Board of Trustees at each Board meeting held during calendar year 1999 and as appropriate in calendar year 2000 with detailed reports as to the Year 2000 preparedness of the Equitable Computer Systems. The failure of the Equitable Computer Systems to be Year 2000 compliant shall not be deemed to be a force majeure event or provide a defense to performance hereunder. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

Year 2000 Preparedness. EQ Financial warrants and represents and warrants that The Equitable Life Assurance Society of the United States ("Equitable"), EQ Financial's sole shareholder, has adopted a written plan (the "Plan"), for Year 2000 compliance for the correct operation of its computer systems and the computer systems, if any, of its subsidiaries, including EQ Financial (the "Equitable Computer Systems"), that the Plan provides for the identification, testing and, where appropriate, upgrading of the Equitable Computer Systems in accordance with reasonable industry standards, so that both the Equitable Computer Systems and their interfaces with third party computer systems will function accurately and without interruption before, during and after December 31, 1999, that Equitable is actively in the process of implementing the Plan and that EQ Financial presently has no reason to believe that the Equitable Computer Systems and their interfaces with third party computer systems will not be able to function accurately and without interruption before, during and after such date. EQ Financial covenants that Equitable will continue to implement the Plan and take such other steps in a commercially reasonable manner as may be necessary and appropriate to be Year 2000 compliant in a timely and efficient manner and will promptly notify the Board of Trustees of the Trust of any Year 2000 compliance problems and the nature thereof on or before September 1, 1999 if EQ Financial determines that the Equitable Computer Systems are not or is not likely to be Year 2000 compliant in a timely and efficient manner. EQ Financial further represents and warrants that it will provide the Board of Trustees at each Board meeting held during calendar year 1999 and as appropriate in calendar year 2000 with detailed reports as to the Year 2000 preparedness of the Equitable Computer Systems. The failure of the Equitable Computer Systems to be Year 2000 compliant shall not be deemed to be a force majeure event or provide a defense to performance hereunder. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.