Common use of Year 2000 Representation Clause in Contracts

Year 2000 Representation. (a) The Fund and PFPC acknowledge that the ability of each party to perform its obligations hereunder may depend upon the ability of certain of such party's computer system/applications to recognize and perform properly date-sensitive functions involving dates prior to and after December 31, 1999, including leap year calculations (the "Year 2000 Change"). Each party represents to the others that (i) each is reviewing those operations within such party's organization involved in the Services described herein and which could be adversely affected by the Year 2000 Change and is developing or has developed a program to remediate or replace affected applications/systems on a timely basis, and to test such remediation or replacement on a timely basis and (ii) that based upon the foregoing, to the best of each party's knowledge and belief, the Year 2000 Change will not have a material adverse affect on the ability of such party to perform hereunder. (b) The Fund and PFPC agree to contact any third-party vendors involved in their respective performance under this Agreement to determine such vendors' strategies and time-lines regarding the Year 2000 Change and to communicate such information to the other parties to this Agreement.