Prudent Industry Practices definition
Prudent Industry Practices means, at a particular time, any of the practices, methods, standards of care, skill, safety and diligence, as the same may change from time to time, but applied in light of the facts known at the time, that are consistent with the general standards applied or utilized under comparable circumstances by a reasonably prudent operator, in a good and workmanlike manner, with due diligence and dispatch, in accordance with good midstream industry practice.
Prudent Industry Practices means the practices, methods and acts engaged in or approved by a significant portion of the solar energy industry that at a particular time, in the exercise of reasonable judgment in light of the facts known or that reasonably should have been known at the time a decision was made, would have been expected to accomplish the desired result in a manner consistent with Applicable Law, reliability, safety, environmental protection, economy and expedition.
Prudent Industry Practices means, at a particular time, any of the practices, methods and acts which, in the exercise of reasonable judgment, will result in the proper operation and maintenance of the assets owned by a Party or its Affiliates and shall include, without limitation, the practices, methods and acts engaged in or approved by a significant portion of the industry at such time with respect to the assets of the same or similar types as the assets owned by such Party or its Affiliates. Prudent Industry Practices are not intended to be limited to optimum practices, methods or acts, to the exclusion of all others, but rather represent a spectrum of possible practices, methods and acts which could have been expected to accomplish the desired result at a commercially reasonable cost in a reliable, safe and timely fashion, in compliance with the applicable limited partnership agreement and limited liability company agreement and in accordance with all applicable laws. Prudent Industry Practices are intended to entail the same standards as the Parties would, in the prudent management of their own properties, use from time to time.
Examples of Prudent Industry Practices in a sentence
If the Hotel is in an earthquake-prone area, earthquake insurance in accordance with Prudent Industry Practices.
Seller shall operate and maintain the Meter in accordance with Prudent Industry Practices.
Seller shall exercise commercially reasonable efforts to timely undertake all updates and modifications to the System, and its equipment and materials, including procedures, programming, and software, required by Prudent Industry Practices.
Seller hereby covenants and agrees to use Commercially Reasonable Efforts to achieve Project Final Completion in accordance with the Scope of Work, the Final Drawings & Specifications, the Material Project Contracts, Laws, Prudent Industry Practices, and all other applicable terms and provisions of this Agreement (collectively, the “Requirements”).
Seller shall, at its sole cost and expense, (a) operate, maintain, test, repair and replace the System consistent with Prudent Industry Practices and (b) perform all corrective, predictive, preventive, and routine maintenance to the System consistent with Prudent Industry Practices, including repairs and replacements, to maintain the equipment and System, such that they are kept and maintained in good physical, mechanical and operational condition.
More Definitions of Prudent Industry Practices
Prudent Industry Practices means any of the practices, methods and acts engaged in or approved by a significant portion of the Wood Pellet production industry for Wood Pellet Production Facilities and Port Facilities that are similar to the Facilities in the United States during the relevant time period, or any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, sound engineering practices, reliability, safety and expedition. For the avoidance of doubt, “Prudent Industry Practices” is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to be acceptable principles, methods and acts generally accepted in the United States, having due regard for, among other things, the preservation of manufacturers’ warranties and operating instructions, the requirements or guidance of Governmental Authorities, applicable laws, applicable operating guidelines and rules and the requirements of insurers.
Prudent Industry Practices means those practices, methods, standards and procedures as are commonly used by a significant portion of those providing operating services on wind facilities of a type and size similar to the Project, which in the exercise of reasonable judgment and in the light of the facts known at the time the decision was made, are considered good, safe and prudent practice in connection with the design, manufacture and construction and use of electrical and other equipment, facilities, equipment and improvements, with commensurate standards of safety, performance, dependability, efficiency and economy.
Prudent Industry Practices means those practices, methods, equipment, specifications and standards of safety and performance, as the same may change from time to time, as are commonly used by renewable diesel refinery projects in the United States, as applicable, of a type and size similar to the Project as good, safe and prudent engineering practices in connection with the design, construction, operation, maintenance, repair and use of electrical and other equipment, facilities and improvements of such projects, with commensurate standards of safety, performance, dependability, efficiency and economy. “Prudent Industry Practices” does not necessarily mean one particular practice, method, equipment specification or standard in all cases and shall not be interpreted to require the adoption or implementation of any particular best or most optimal practice, but is instead intended to encompass a broad range of acceptable practices, methods, equipment specifications and standards.
Prudent Industry Practices do not necessarily mean the best practice, method, or standard of care, skill, safety and diligence in all cases, but is instead intended to encompass a range of acceptable practices, methods, and standards.
Prudent Industry Practices means those practices, methods, standards, and acts (including those engaged in or approved by a significant portion of the solar-generated electric power industry and/or the North American Electric Reliability Corporation) of similarly situated engineering or construction firms, as applicable, on projects similar in size, nature, complexity and geographic region as the Project that at a particular time in the exercise of good judgment, and in light of the facts known at the time the decision was made, would have been expected to accomplish the desired result in compliance with all Legal Requirements and in a manner consistent with economy and expedition. Prudent Industry Practices are not necessarily defined as the optimal standard practice method or act to the exclusion of others, but rather refer to a range of action reasonable under the circumstances.
Prudent Industry Practices means the methods and standards, on any particular issue of operation and maintenance of the passenger bus services (i) of any Competent Authority, and (ii) as would be followed by a prudent and experienced Operator, in a project of similar nature as per the generally accepted standards of quality and performance.
Prudent Industry Practices means those practices, methods, equipment, specifications and standards of safety and performance, as the same may be changed from time to time, as are generally used in the operation and maintenance of privately owned wind generated electric power generation facilities similar to the Projects, which in the exercise of reasonable judgment and in light of the facts known at the time the decision was made, are considered good, safe and prudent practice in connection with the operation and maintenance of wind generation facilities similar to the Projects, and as are in accordance with Law and generally accepted national standards of professional care, skill, diligence and competence applicable to operation and maintenance practices.