Prudent Operating Practice Sample Clauses

The Prudent Operating Practice clause defines the standard of care and diligence that a party, typically an operator or service provider, must adhere to when performing its obligations under a contract. It requires the party to act in accordance with the practices, methods, and standards that are generally accepted as proper and safe by experienced professionals in the relevant industry. For example, this may involve maintaining equipment, managing operations, or responding to emergencies in a manner consistent with what a competent operator would do under similar circumstances. The core function of this clause is to set a clear benchmark for performance, reducing ambiguity and helping to allocate risk by ensuring that services are delivered to an industry-accepted standard.
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Prudent Operating Practice. The Generator confirms that it will operate the Facility during the Contract Term in accordance with Prudent Operating Practice whilst using reasonable endeavours to maximise the Metered Output of the Facility.
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Prudent Operating Practice. In relation to either Party, standards of practice obtained by exercising that degree of skill, diligence, prudence and foresight which could reasonably be expected from a skilled and experienced person engaged in the electricity generation and/or transmission business under the same or similar circumstances and conditions.
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Prudent Operating Practice. In relation to either Party, standards of practice obtained by exercising that degree of skill, diligence, prudence and foresight which could reasonably be expected from a skilled and experienced person engaged in the electricity generation and/or transmission business under the same or similar circumstances and conditions. Reasonable and Prudent Operator: a person seeking in good faith to perform its contractual obligations and in so doing and in the general conduct of its business exercising that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced operator engaging in the electricity generation and/or transmission business in the same or similar circumstances and conditions,
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Prudent Operating Practice. The Generator shall operate the Generator’s Plant and Apparatus and SONI shall operate NIE’s Plant and Apparatus in accordance with the Grid Code and Prudent Operating Practice.
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Related to Prudent Operating Practice

  • Professional Practice The parties agree that nurses who have professional practice complaints will make such complaint in writing to their manager and if such complaint is not resolved then it will be considered an appropriate topic at ONA management committee, unless otherwise agreed by the parties. The parties agree that ONA members may use the ONA Professional Responsibility and Workload Report Form.

  • Accounting Practice Except as otherwise provided herein, all Mortgage Loan account records must be maintained according to (a) the Uniform Single Attestation Program for Mortgage Bankers and (b) where applicable, sound and generally accepted accounting practices.

  • Good Industry Practice all applicable Standards; and

  • Accounting Practices All matters concerning this FuturesAccess Fund’s accounting practices shall be determined by the Sponsor on a fair and equitable basis, and all such determinations shall be final and conclusive as to all Investors. However, the Sponsor shall be under no obligation whatsoever to make any deviations from the allocations set forth in this Article II. In reporting Net Asset Values to Investors and third parties on an interim basis, the Sponsor shall be entitled to accrue fees and payments due at the end of a period as if such fees or payments were due (on a pro rata basis, if appropriate) as of the end of an interim period within such period.

  • Practices The practices used or to be used by the Servicer, to monitor collections with respect to the Trust Property and repossess and dispose of the Financed Vehicles related to the Trust Property will be, in all material respects, in conformity with the requirements of all applicable federal and State laws, rules and regulations, and this Agreement. The Servicer is in possession of all State and local licenses (including all debt collection licenses) required for it to perform its services hereunder, and none of such licenses has been suspended, revoked or terminated, except where the failure to have such licenses would not be reasonably likely to have material adverse effect on its ability to service the Loans or Contracts or on the interest of the Indenture Trustee, the Trust Collateral Agent or the Noteholders.