Common use of Y2K Clause in Contracts

Y2K. All computer hardware or software included in the Assets, including without limitation, microcode, firmware, system and application programs, files, databases and computer services, the failure or disfunctionality of which would either individually or in the aggregate would have a Material Adverse Effect on the Business is Y2K Compliant. Y2K Compliant means that such hardware or software will (a) process date data from at least the years 1900 through 2001 without error or interruption, and (b) maintain functionality with respect to the introduction, processing or output of records continuing dates falling on or after January 1, 2000.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Skylynx Communications Inc), Asset Purchase Agreement (Skylynx Communications Inc)