Year 2000 Problems. On or prior to January 31, 1999, each Credit Party shall complete and deliver to Agent a Year 2000 Corrective Plan. On or prior to September 30, 1999, each Credit Party shall implement Year 2000 Corrective Actions. On or before October 31, 1999, each Credit Party shall complete Year 2000 Corrective Actions and Year 2000 Implementation Testing. On or before November 30, 1999, each Credit Party shall eliminate all Year 2000 Problems, except where the failure to correct the same could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.
Year 2000 Problems. On or prior to March 31, 1999, each Borrower shall complete and deliver to the Agent a Year 2000 Corrective Plan. On or prior to April 30, 1999, each Borrower shall implement Year 2000 Corrective Actions. On or prior to June 30, 1999, each Borrower shall complete Year 2000 Corrective Actions and Year 2000 Implementation Testing. On or prior to September 30, 1999, each Borrower shall eliminate all Year 2000 Problems, except where the failure to correct the same could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.
Year 2000 Problems. Promptly, upon the request of the Agent, a ------------------ copy of the plan, timetable and budget of the Borrower to address the Year 2000 Problem, together with periodic updates thereof and expenses incurred to date, any third party assessment of the Borrower's Year 2000 remediation efforts, any Year 2000 contingency plans and any estimates of the Borrowers' potential litigation exposure (if any) to the Year 2000 Problem.
Year 2000 Problems. The Borrower covenants and agrees that it ------------------ will perform all acts reasonably necessary to ensure that it and any business in which the Borrower holds a substantial interest, become Year 2000 Compliant by December 31, 1999. Such acts shall include, without limitation, performing a comprehensive review and assessment of all of the systems of the Borrower and the remediation, monitoring and testing of such systems.
Year 2000 Problems. Borrower shall take all action necessary to assure that its computer-based system (and those of Investment Manager and of all Subsidiaries) are able to process effectively data, including dates on and after January 1, 2000, without any Year 2000 Problem. At the request of Agent or of any Lender, Borrower shall provide Agent or such Lender with assurances and substantiations reasonably acceptable to Agent or such Lender as to Borrower's, its Subsidiaries', and Investment Manager's capability to process data on and after January 1, 2000 without any Year 2000 Problem.
Year 2000 Problems. Each Credit Party has eliminated all Year 2000 Problems, except where the failure to correct the same could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.
Year 2000 Problems. Company shall (i) promptly advise Co-Administrative Agents of any material (A) disruption or delay in the implementation of the Plan of Correction, as the same may be updated from time to time, including any determination by Company, any senior manager of Company or any other Subsidiary of Company, or any consultant known to Company or any other Subsidiary of Company with respect to Year 2000 Problems ("Consultant") that there is or will be a failure to achieve any of the objectives specifically identified in subdivision (ii) of subsection 5.21, or (B) change in the written Plan of Correction or related implementation budget referred to in subdivision (v) of subsection 5.21, or any later version thereof furnished to Co-Administrative Agents; (ii) afford to Co-Administrative Agents and their representatives, upon three days' notice to Company, reasonable access to Company's and its Subsidiaries' properties, personnel, service providers, vendors and records for the purpose of enabling Co-Administrative Agents to assess the adequacy of, and the record of performance of Company and its Subsidiaries with respect to, the Plan of Correction, related financial performance and conformity of actual performance with related implementation budgets; and (iii) periodically report to Co-Administrative Agents, in such form as Co-Administrative Agents may reasonably request, on (a) the progress of Company and its Subsidiaries in implementing the Plan of Correction, (b) the budget for, and actual financial performance with respect to, implementation of the Plan of Correction and (c) the assessment of Company, any senior manager of Company or any other Subsidiary of Company, or any Consultant of the adequacy of the Plan of Correction or the related implementation budget."
Year 2000 Problems. The Company has (i) engaged in a process of assessment of the existence of the Year 2000 Problems reasonably appropriate to the scope and complexity of their respective Systems; (ii) adopted and are successfully implementing a plan of correction ("Plan of Correction") which, the Company reasonably believes will result in a substantial elimination of Year 2000 Problems (and, in any event, all Year 2000 Problems which could reasonably be expected to have a Material Adverse Effect) which might have a Material Adverse Effect and, in the case of all Systems (as defined in the definition of Year 2000 Problems) critical to the business or operations of the Company and its Subsidiaries, elimination in all material respects of Year 2000 Problems prior to any processing failure of a System or Systems due to Year 2000 Problems which might have a Material Adverse Effect; (iii) adopted and are successfully implementing validation procedures calculated to test on an ongoing basis the sufficiency of the Plan of Correction, its implementation, and the correction of Year 2000 Problems in substantially all Systems and all Systems critical to the business or operations of the Company and its Subsidiaries; and (iv) adopted and are successfully implementing policies and procedures requiring regular reports to, and monitoring by, senior management of the Company concerning the foregoing matters. The Company reasonably believes that, as relating to the Company and each of its Subsidiaries, individually and taken as a whole, (x) the assessment and correction of Year 2000 Problems, including, without limitation, the Plan of Correction, and the testing of all Systems and the correction of Year 2000 Problems, in each case, which, individually or in the aggregate, if not corrected could reasonably be expected to have a Material Adverse Effect, will be completed on or prior to December 31, 1998, (y) a Material Adverse Effect will not occur as a result of any Year 2000 Problem, and (z) the aggregate costs and expenses incurred and reasonably expected to be incurred in connection with the assessment and correction of Year 2000 Problems, including, without limitation, the Plan of Correction, and the testing and monitoring of all Systems and the correction of Year 2000 Problems, could not reasonably be expected to have a Material Adverse Effect.
Year 2000 Problems. On or prior to April 1, 1999, each Loan Party shall implement Year 2000 Corrective Actions. On or before May 31, 1999, each Loan Party shall complete Year 2000 Corrective Actions and Year 2000 Implementation Testing. On or before August 31, 1999, each Loan Party shall eliminate all Year 2000 Problems, except where the failure to correct the same could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.
Year 2000 Problems. Such Borrower has made a full and complete assessment of the Year 2000 Problems and has a realistic and achievable program for remediating the Year 2000 Problems on a timely basis. Based on such assessment and program, such Borrower does not reasonably anticipate that Year 2000 Problems will have a Material Adverse Effect.
