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.
Sample 1Sample 2Sample 3
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.
Sample 1
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.
Sample 1

Examples of Year 2000 Risk in a sentence

  • 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.

  • 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.

  • 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 Borrower, the Parent and their Subsidiaries have reviewed the major areas within their businesses and operations which could be adversely affected by, and have developed or are developing programs to address on a timely basis, the Year 2000 Risk.

  • Borrower has reviewed the "Year 2000 Risk" (that is -------------- the risk that computer applications used by Borrower 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 insure that the Year 2000 Risk will not adversely affect its business operations and/or financial conditions.

  • Further, the unqualified opinion shall not (i) disclaim the auditor's obligation to address the so called "Yk2" or "Year 2000 Risk" issue as it relates to the Borrower's liabilities or contingent liabilities, and (ii) be qualified as to the Borrower's possible failure to take all appropriate steps to successfully address the so called "Yk2" issue.

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

  • 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.

  • Permit employees, agents and representatives of the Lenders to inspect, during normal business hours, its premises and any other facilities and systems of the Companies and its books and records and to make abstracts or reproductions thereof, including without limitation those which any Lender may wish to inspect in connection with the Year 2000 Risk and the Companies' representation that each of the Companies is Year 2000 Compliant.

  • Permit employees, agents and representatives ------------ ---------- of the Lenders to inspect, during normal business hours, its premises, its books and records (and to make abstracts or reproductions thereof) and such other facilities and systems of the Borrower, as any Lender may wish to inspect in connection with the Year 2000 Risk and the Company's efforts to become Year 2000 Compliant in accordance with SECTION 6.12.

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.

  • 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 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • 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 for the individual portfolio resulting from inadequate internal processes and failures in relation to people and systems of the investment service provider or from external events, and includes legal and documentation risk and risk resulting from the trading, settlement and valuation procedures operated on behalf of the individual portfolio;

  • Supply chain risk means the risk that an adversary may sabotage, maliciously introduce unwanted function, or otherwise subvert the design, integrity, manufacturing, production, distribution, installation, operation, or maintenance of a covered system so as to surveil, deny, disrupt, or otherwise degrade the function, use, or operation of such system (see 10 U.S.C. 2339a).

  • Year 3 means the tax year preceding the current tax year.

  • 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;

  • 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 —

  • 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.