Common use of Management Standards Clause in Contracts

Management Standards. In performing the Services, Manager will act in accordance with the express provisions of this Agreement and, where neither this Agreement nor any other agreement applicable to Manager in respect of performing the Services specifically establishes a particular obligation or standard, in accordance with prudent industry standards and in conformity in all material respects with all applicable Laws and in conformity with the oil, gas and mineral leases owned by Owner (the “Management Standards”). Manager shall perform the Services consistent with the Budget, including any variances from the Budget expressly permitted by the LLC Agreement.