Year 2000 readiness plan definition

Year 2000 readiness plan means the process by which a federally insured financial institution or credit union prepares the computers and other electronic information and operating systems and equipment under the financial institution's or credit union's control to correctly read and process time and date information and to function consistently regarding that time and date information.
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Year 2000 readiness plan means a plan pursuant to which a financial institution takes action that is reasonably calculated to avoid material disruption of its operations as a result of a computer date failure of a computer, computer network, computer program, computer software, embedded chip, or computer system under the control of the financial institution.
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Year 2000 readiness plan means the process by which a federally insured
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Examples of Year 2000 readiness plan in a sentence

  • Section 4.19 of the Company Disclosure Letter sets forth a summary of the status of the Company's Year 2000 readiness plan (the "Y2K Readiness Plan").

  • Assessment Phase (prioritize the inventoried systems and third parties, assess their Year 2000 readiness, plan corrective actions) .

  • In addition to the practical testing performed above, we have completed an independent inventory and assessment of the systems at our digital broadcast center and are currently in the remediation phase of our Year 2000 readiness plan.

  • The Company has a Year 2000 readiness plan (the "Y2K Readiness Plan") as described in the Company SEC Documents.

  • INTERNAL FINANCIAL AND ADMINISTRATIVE SYSTEMS With respect to our internal financial and administrative systems, we have completed the inventory phase of the Year 2000 readiness plan by identifying all systems with potential Year 2000 problems.


More Definitions of Year 2000 readiness plan

Year 2000 readiness plan means a plan pursuant to which a person takes action that is reasonably calculated to avoid material disruption of its operations as a result of a computer date failure of a computer, computer network, computer program, computer software, embedded chip, or computer system under the control of the person.
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Related to Year 2000 readiness plan

  • Year 2000 Ready or "Year 2000 Readiness" means that the referenced component, system, software, equipment or other item (for purposes of this definition, the "Computer System") is designed to be used prior to, during and after the calendar year 2000 A.D., and that such Computer System will operate at all levels, including microcode, firmware, application programs, user interfaces, files and databases, during each such time period without error or interruption relating to, or the product of, date data which represents or references different centuries or more than one century or leap year.

  • Year 2000 Compliant means, with respect to the Company's Information Technology, that the Information Technology is designed to be used prior to, during and after the calendar Year 2000, and the Information Technology used during each such time period will accurately receive, provide and process date and time data (including, but not limited to, calculating, comparing and sequencing) from, into and between the 20th and 21st centuries, including the years 1999 and 2000, and leap-year calculations, and will not malfunction, cease to function, or provide invalid or incorrect results as a result of the date or time data, to the extent that other information technology, used in combination with the Information Technology, properly exchanges date and time data with it. The Company has delivered to the Buyers true and correct copies of all analyses, reports, studies and similar written information, whether prepared by the Company or another party, relating to whether the Information Technology is Year 2000 Compliant, if any.

  • service delivery and budget implementation plan means a detailed plan approved by the mayor of a municipality in terms of section 53 (1) (c) (ii) for implementing the municipality's delivery of municipal services and its annual budget, and which must indicate-

  • Business Plan means the information required to be supplied to the

  • Year 2000 Problem as used herein means any significant risk that computer hardware or software used in the receipt, transmission, processing, manipulation, storage, retrieval, retransmission or other utilization of data or in the operation of mechanical or electrical systems of any kind will not, in the case of dates or time periods occurring after December 31, 1999, function at least as effectively as in the case of dates or time periods occurring prior to January 1, 2000.