Y2K Compliance definition

Y2K Compliance or “Y2K Compliant” means hardware, software, firmware, or other systems or processes (hereafter “systems and processes”) that correctly manage, calculate, compare and sequence date data from, into and between the 20th and 21st centuries, including leap year calculations, without human intervention. Y2K Compliant systems and processes must utilize input and output date formats that are compatible with the ISO’s systems and processes, must conform to the International Organization for Standardization ISO 8601:1988 standards for representation of dates and must not cause incorrect date calculations.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Y2K Compliance the ability of a computer program to (i) record, store, process, calculate, present and, where appropriate, insert time and accurate dates and calculations for calendar dates falling on or after (and, if applicable, spans of time including) January 1, 2000, (ii) record, store, process, calculate and present any information and/or data dependent on or relating to such dates in the same manner, and with the same functionality, data integrity and performance, as the Software records, stores, processes, calculates and presents calendar dates on or before December 31, 1999 and in such fashion as to respond to two-digit date input in a way that eliminates all ambiguities as to the century of concern, and treats the year 2000 as a leap-year and correctly and accurately regards and processes data and information with respect thereto, and (iii) lose no functionality with respect to the introduction of records, including but not limited to back-up and archived information and/or data, containing dates falling on or after January 1, 2000 and "Y2K Compliant" has the correlative meaning.

Y2K Compliance. - means Year 2000 compliance and has the meaning set forth in subsection 13.05(c) of this Agreement.

Examples of Y2K Compliance in a sentence

• All adaptations and replacements of software and hardware required to achieve full Y2K Compliance will be completed on or before September 30, 1999, except where a failure to achieve full Y2K Compliance will not have a Materially Adverse Effect.

• The Parties agree that the above constitutes being year 2000 compliant ("Y2K" Compliance").

• All Software Programs designated with a "check" in the table (the "Y2K Compliance Table") with the heading "B.

• If Software fails to so function as a consequence of Y2K Compliance, Buyer's sole remedy and Seller's sole obligation under this warranty is for Seller to correct such failure through the replacement or modification of the Software or such other actions as the Parties reasonably determine to be appropriate within sixty (60) days of such failure.

• However, if Seller is unable to correct such Y2K Compliance failure through replacement or modification of the Software, then the Parties shall negotiate a commercially reasonable solution.

• Such non-exclusive service, as more particularly described in Attachment B (the "Services Profile"), attached hereto and incorporated by reference, includes, but is not limited to, mainframe operations, payroll processing and support, technical staff support, data center operations and floorspace, special processing requirements, system backups, network services, telephone services and Enterprise services including Help Desk, IT Sourcing and Y2K Compliance Program (the "Services" or "Service").

• All Software Programs that are not designated with a "check" as currently being Year 2000 Compliant will be Year 2000 Compliant on the date indicated in the Y2K Compliance Table.

• The software and the hardware operated by the Borrower and its Subsidiaries are capable of providing or being adapted to provide the ability to process dates or store data within the twenty-first century or between the twentieth and twenty-first century, or otherwise operate without error with respect to twenty-first century dates in substantially the same manner and with the same functionality as such software records, stores processes and presents such data as of the date hereof ("Y2K Compliance").

• Each such update will be true and accurate as of the date of such update, and will accurately reflect the status as of such date of Broker Subsidiary's Y2K Compliance Plan.

• Borrower represents that to the best knowledge of Borrower and Broker Subsidiary, the statements made in the Year 2000 Compliance Statement are true and accurate as of the date of such Statement, and such statements accurately reflect the status of the Y2K Compliance Plan of Broker Subsidiary as of the date of such Statement.

More Definitions of Y2K Compliance

Y2K Compliance means the ability of a computer program to (i) record, store, process, calculate, present and, where appropriate, insert accurate dates and calculations for calendar dates falling on or after (and, if applicable, spans of time including) January 1, 2000, (ii) record, store, process, calculate and present any information and/or data dependent on or relating to such dates with the same functionality, data integrity and performance, as the software records, stores, processes, calculates and presents calendar dates on or before December 31, 1999 and in such fashion as to respond to two-digit date input in a way that eliminates all ambiguities as to the century of concern, and treats the year 2000 as a leap-year and correctly and accurately regards and processes data and information with respect thereto, and (iii) lose no functionality with respect to the introduction of records, including but not limited to back-up and archived information and/or data, containing dates falling on or after January 1, 2000 and "Y2K Compliant" has the correlative meaning.

Y2K Compliance. The computer systems and other equipment containing embedded microchips. which employ, store, exchange or process date/time information, in either case owned or operated by the Borrower or the Subsidiaries or used in the conduct of the Business, and the Borrowers and the Subsidiaries' products and services are Y2K Compliant; and

Y2K Compliance means that: (i) the functions, calculations, and other computing processes of the software used by LRC in its business (the "Software") (collectively, the "Processes") performs in an accurate manner regardless of the date in time on which the Processes are actually performed and regardless of the date input to such Software, whether before, on, or after January 1, 2000, and whether or not the dates are affected by leap years; (ii) the Software accepts, stores, sorts, extracts, sequences and otherwise manipulates date inputs and date values, and returns and displays date values, in an accurate manner regardless of the dates used, whether before, on, or after January 1, 2000; (iii) the Software will function without interruptions caused by the date in time on which the Processes are actually performed or by the date input to the Software, whether before, on, or after January 1, 2000; (iv) the Software accepts and responds to two (2) digit year and four (4) digit year date input in a manner that resolves any ambiguities as to the century in a defined, predetermined, and accurate manner; (v) the Software displays, prints, and provides electronic output of date information in ways that are unambiguous as to the determination of the century; and (vi) the Software has been tested by LRC to determine whether it is Y2K compliant or it has been represented to LRC that the Software is Y2K compliant; and

Y2K Compliance means the ability of a computer program to (i) record, store, process, calculate, present and, where appropriate, insert time and accurate dates and calculations for calendar dates falling on or after (and, if applicable, spans of time including) January 1, 2000, (ii) record, store, process, calculate and present any information and/or data dependent on or relating to such dates in the same manner, and with the same functionality, data integrity and performance, as the software records, stores, processes, calculates and presents calendar dates on or before December 31, 1999 and in such fashion as to respond to two-digit date input in a way that eliminates all ambiguities as to the century of concern, and treats the year 2000 as a leap- year and correctly and accurately regards and processes data and information with respect thereto, and (iii) lose no functionality with respect to the introduction of records, including but not limited to back-up and archived information and/or data, containing dates falling on or after January 1, 2000 and "Y2K Compliant" has the correlative meaning. Any accounting term used in this Agreement shall have, unless otherwise specifically provided herein, the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed, unless otherwise specifically provided herein, in accordance with GAAP consistently applied. That certain terms or computations are explicitly modified by the phrase "in accordance with GAAP" shall in no way be construed to limit the foregoing. All other undefined terms contained in this Agreement shall, unless the context indicates otherwise, have the meanings provided for by the U.C.C. to the extent the same are used or defined therein. The words