Year 2000 Risk definition

Year 2000 Risk means the risk that computer applications used by the Company and its Subsidiaries and/or its suppliers, vendors, and customers may be unable to recognize and perform without error date-sensitive functions involving certain dates prior to and any date after December 31, 1999.
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Year 2000 Risk. The risk that a computer application may not be able to recognize certain dates or properly perform date sensitive functions involving dates prior to and after December 31, 1999.
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Year 2000 Risk. Delta Capital's internally used computers and products produced or licensed by Delta Capital are "Y2K" compliant and do not represent a risk for users. To the extent that Delta Capital may be exposed to possible year 2000 failures of its trading partners, Delta Capital's staff and the staff of AltaCo have been educated on the Year 2000 problem and an inquiry program as to the readiness of trading partners has been initiated. Although Delta Capital has used its best efforts to ensure that any contracted technology deliverables to Delta Capital are "Y2K" compliant, Delta Capital cannot be sure that all outside organizations beyond its control which impact or may impact Delta Capital's business, will be Y2K compliant by December 31, 1999.
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Examples of Year 2000 Risk in a sentence

  • As used herein, "Year 2000 Risk" means the risk that computer applications used by the Company and its Subsidiaries and/or its suppliers, vendors, and customers may be unable to recognize and perform without error date-sensitive functions involving certain dates prior to and any date after December 31, 1999.

  • The Company has reviewed the Year 2000 Risk and is taking such action as may be necessary to ensure that the Year 2000 Risk will not adversely affect its business operations and/or financial condition.

  • In addition, each of the Companies has reviewed the Year 2000 Risk and acknowledges the actions necessary to ensure that the Year 2000 Risk will not have a Material Adverse Effect.

  • The report is Cabinet in Confidence.Chapter 2: Level of Awareness of the Year 2000 Problem in the Public Sector for centrally managing the risks associated with the Year 2000 problem was transferred to the Minister for Finance.On 1 July 1998 the Minister for Finance established the Year 2000 Risk Management Unit, Department of Treasury and Finance, to monitor, report and verify the status of Year 2000 compliance of all budget sector agencies.

  • Based on such review and program, the Year 2000 Risk should not have a materially adverse effect on their businesses and operations.

  • The Committee recommends that:Recommendation 3.1: The Year 2000 Risk Management Unit assess page 31 the need for further compliance work inpublic sector agencies which have yet to account for the potential effects of the Year 2000 problem on business continuity and service quality.

  • The information captured as a result of the risk identification and analysis activities is to be documented and formatted as per the TBS Year 2000 Risk Information Sheet [Reference c].

  • Borrower has reviewed the "Year 2000 Risk" (that is the risk that computer applications used by Borrower and/or its suppliers, vendors and customers may be unable to recognize and perform without error date-sensitive functions involving certain dates prior to and any date after December 31, 1999) and represents that it is taking such action as may be necessary to ensure that the Year 2000 risk will not adversely affect its business operations and/or financial condition.

  • The Minister also confirmed that the Year 2000 Risk Management Unit had received a commitment from the Premier for extra funds, if needed.On 23 September 1998 the Minister for Industry, Science and Technology, Hon.

  • Recommendation 3.4: The government assess the State’s Year 2000 page 34 risks, including those posed by key economicsectors.Recommendation 3.5: The Year 2000 Risk Management Unit build page 34 and maintain close links with the essentialinfrastructure organisations in order to be aware of the status of Year 2000 compliance programs.

Related to Year 2000 Risk

  • 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.

  • 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 Issues means anticipated costs, problems and uncertainties associated with the inability of certain computer applications to effectively handle data including dates on and after January 1, 2000, as such inability affects the business, operations and financial condition of the Borrower and its Subsidiaries and of the Borrower's and its Subsidiaries' material customers, suppliers and vendors.

  • 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.

  • Year 2000 Compliance has the meaning set forth in section 17.29 of the Management Agreement.

  • Sustainability Risk means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment;

  • Year 2 means the year after year 1; year 3 means the year after year 2, year 4 means the year after year 3, and so on; and

  • Model Year means the CI engine manufacturer’s annual production period, which includes January 1st of a calendar year, or if the manufacturer has no annual production period, the calendar year.

  • Project Year means the twelve-month period beginning from the Effective Date and ending twelve months thereafter (the First Project Year), and any twelve-month period beginning at the end of the First Project Year, or the end of subsequent Project Years;

  • Minimal risk means that the probability and magnitude of harm or discomfort anticipated in the research are not greater in and of themselves than those ordinarily encountered in daily life or during the performance of routine physical or psychological examinations or tests.

  • Maximum Applied Water Allowance (MAWA) means the upper limit of annual applied water for the established landscaped area as specified in Section 492.4. It is based upon the area's reference evapotranspiration, the ET Adjustment Factor, and the size of the landscape area. The Estimated Total Water Use shall not exceed the Maximum Applied Water Allowance. Special Landscape Areas, including recreation areas, areas permanently and solely dedicated to edible plants such as orchards and vegetable gardens, and areas irrigated with recycled water are subject to the MAWA with an ETAF not to exceed 1.0. MAWA = (ETo) (0.62) [(ETAF x LA) + ((1-ETAF) x SLA)]

  • Fixed Allowances For the purpose of this guarantee and for the purpose of establishing compliance with this guarantee, the following shall be used as fixed quantities and allowances: Operational Empty Weight minus Tare, OEW: 350,000 Pounds Takeoff and Climbout Maneuver: Fuel 3,230 Pounds Distance 7 Nautical Miles Usable reserve fuel remaining upon completion of the approach and landing maneuver: 30,000 Pounds

  • operational risk means the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, and includes legal risk;

  • Comprehensive resource analysis means an analysis including,

  • Supplier Profit means, in relation to a period, the difference between the total Charges (in nominal cash flow terms but excluding any Deductions (as defined in Call Off Schedule 1 (Definitions)) and total Costs (in nominal cash flow terms) in respect of any Call Off Agreements for the relevant period;

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Year 3 means the school year in which the majority of pupils attain the age of eight;

  • Supplier Profit Margin means, in relation to a period, the Supplier Profit for the relevant period divided by the total Charges over the same period in respect of any Call Off Agreements and expressed as a percentage;

  • Budget Year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Total resource cost test or "TRC test" means a standard that is met if, for an investment in energy efficiency or demand-response measures, the benefit-cost ratio is greater than one. The benefit-cost ratio is the ratio of the net present value of the total benefits of the program to the net present value of the total costs as calculated over the lifetime of the measures. A total resource cost test compares the sum of avoided electric utility costs, representing the benefits that accrue to the system and the participant in the delivery of those efficiency measures, as well as other quantifiable societal benefits, including avoided natural gas utility costs, to the sum of all incremental costs of end-use measures that are implemented due to the program (including both utility and participant contributions), plus costs to administer, deliver, and evaluate each demand-side program, to quantify the net savings obtained by substituting the demand-side program for supply resources. In calculating avoided costs of power and energy that an electric utility would otherwise have had to acquire, reasonable estimates shall be included of financial costs likely to be imposed by future regulations and legislation on emissions of greenhouse gases.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Basic Comprehensive User Guide means the Ministry document titled Basic Comprehensive Certificates of Approval (Air) User Guide” dated April 2004 as amended.

  • 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.

  • Low risk means normal, uncomplicated prenatal course as determined by adequate prenatal care and prospects for a normal, uncomplicated birth as defined by reasonable and generally accepted criteria of maternal and fetal health.

  • Extreme performance coating means coatings designed for harsh exposure or extreme environmental conditions.