ntp-wait: command not found

Maybe Your $PATH variable doesn't contain the default paths? echo $PATH should give something like:

[root@server ~]# echo $PATH
/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin

If it's empty, You may set the PATH variable with this command

export PATH="/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin"

On CentOS possible default full paths are:

/usr/sbin/ntp-wait - from package: ntp-perl

You may install the required package with command yum install {package}

On Debian possible default full paths are:

/usr/sbin/ntp-wait - from package: ntp

You may install the required package with command apt-get install {package}

Error in other languages:
ntp-wait: bevel nie gevind nie
ntp-wait: comandă negăsită
ntp-wait: comando não encontrado
ntp-wait: commande introuvable
ntp-wait: command not found
ntp-wait: käsku ei ole
ntp-wait: không tìm thấy lệnh
ntp-wait: komanda nerasta
ntp-wait: Kommando nicht gefunden.
ntp-wait: kommandot finns inte
ntp-wait: komut yok
ntp-wait: nie znaleziono polecenia
ntp-wait: níor aimsíodh an t-ordú
ntp-wait: no se encontró la orden
ntp-wait: no s'ha trobat l'ordre
ntp-wait: opdracht niet gevonden
ntp-wait: parancs nem található
ntp-wait: perintah tidak ditemukan
ntp-wait: príkaz nenájdený
ntp-wait: příkaz nenalezen
ntp-wait: команда не найдена
ntp-wait: командата не е открита
ntp-wait: 命令找不到
ntp-wait: コマンドが見つかりません