Common use of Year 2000 Problems Clause in Contracts

Year 2000 Problems. On or prior to March 31, 1999, each Borrower shall complete and deliver to the Agent a Year 2000 Corrective Plan. On or prior to April 30, 1999, each Borrower shall implement Year 2000 Corrective Actions. On or prior to June 30, 1999, each Borrower shall complete Year 2000 Corrective Actions and Year 2000 Implementation Testing. On or prior to September 30, 1999, each Borrower shall eliminate all Year 2000 Problems, except where the failure to correct the same could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.

Appears in 2 contracts

Sources: Loan and Security Agreement (KMC Telecom Holdings Inc), Loan and Security Agreement (KMC Telecom Holdings Inc)

Year 2000 Problems. On or prior to March 31February 28, 1999, Borrower and each Borrower of its Material Subsidiaries shall complete and deliver to the Agent a Year 2000 Corrective Plan. On or prior to April 30March 31, 1999, each Borrower Loan Party shall implement begin implementation of Year 2000 Corrective Actions. On or prior to June 30, 1999, each Borrower shall complete Year 2000 Corrective Actions and Year 2000 Implementation Testing. On or prior to before September 30, 1999, Borrower and each Borrower of its Material Subsidiaries shall eliminate use commercially reasonable efforts to address all Year 2000 ProblemsProblems identified in the Year 2000 Assessment, except where the failure to correct the same address such Year 2000 Problems could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.

Appears in 1 contract

Sources: Credit Agreement (Scott Technologies Inc)