brocade decided to deprecate sntp somewhere along the upgrade path to 5.3b and so ntp configuration was changed. ntp was not synchronizing at all and when i run ‘show ntp status’ it displayed panic mode

Brocade# show ntp status
Clock is unsynchronized, no reference clock
NTP server mode is enabled, NTP client mode is enabled
NTP master mode is disabled, NTP master stratum is 8
NTP is in panic mode

to remove panic mode:

Brocade(config)# no clock summer-time
Brocade(config)# no clock timezone us pacific

set the utc time. Jan 31 20:07:06:A:NTP: NTP is in panic mode. Please set the clock manually within 1000 seconds of current time.

Brocade# clock set 17:40:00 04-11-12

wait for ntp to sync in the syslog. this part took a while.

Oct 17 12:44:01:I:NTP: Stratum is changed to 3.
Oct 17 12:44:01:I:NTP: System clock is synchronized to

reconfigure timezone and dst

Brocade# config terminal
Brocade(config)# clock timezone us pacific
Brocade(config)# show clock
09:41:27.182 Pacific Wed Apr 11 2012
Brocade(config)# clock summer-time
Brocade(config)# show clock
10:41:35.632 Pacific Wed Apr 11 2012

i also had racl(receive access-list) enabled so i had to add the ntp server to the acl

ip receive access-list 155 sequence 5
access-list 155 permit ip host host

and set the source-interface in ntp configuration. my full ntp configuration below:

disable serve
source-interface loopback 1
server minpoll 4