Prudent Operator definition

Prudent Operator means a prudent operator of property similar in use and configuration to the Premises and located in the locality where the Premises are located.

Prudent Operator means, with respect to the Operator, a reasonable, prudent operator experienced in the exploration and production of Hydrocarbons and who is, at the time of any specific determination, situated similarly to Borrower or Operator, as applicable, in all material respects, and with respect to Borrower where it is not the Operator of the Property at issue, a reasonably prudent owner of a working interest using commercially reasonable judgment who is, at the time, situated similarly to Borrower in all material respects.

Prudent Operator means the standard of care taken by a prudent ---------------- operator of property similar in use and configuration to the Owned Premises or Leased Premises, as the case may be, and located in the locality where the Owned Premises or Leased Premises, as the case may be, are located.

Examples of Prudent Operator in a sentence

• The TSO will therefore act as a Reasonable and Prudent Operator in order to facilitate the day to day operations of the delivery and the redelivery of Natural Gas, in accordance with attachment C1 of the Access Code for Transmission.

• The TSO, acting as a Reasonable and Prudent Operator, shall have the right to make interventions on all or part of the Transmission System for maintenance, repair or replacement works, which may have an impact on the availability of the Firm or Backhaul capacities.

• Each Party will act as a Reasonable and Prudent Operator when exercising any of its rights, powers, obligations and duties under this Agreement.

• The expression Force Majeure shall mean any event, act, fact or circumstance which is unforeseeable and beyond the control of a Party acting or having acted as a Reasonable and Prudent Operator, which has repercussions on the Pipeline causing the failure to perform, totally or partially, the fulfilment of any obligation under this Contract as long as this cause of Force Majeure lasts.

• Reasonable and Prudent Operator is used to describe the standard of care to be exercised by a Party in performing its obligations hereunder, the degree of diligence, prudence and foresight reasonably and ordinarily exercised by experienced operators engaged in the same type of business under the same or similar circumstances and conditions having due consideration to the interests of the other Party.

More Definitions of Prudent Operator

Prudent Operator means the standard of care taken by a prudent operator of property and assets similar in use and configuration to the Pledged Collateral and located in the locality where the Pledged Collateral is located.

Prudent Operator means a prudent operator of property similar ---------------- in use and configuration to the Premises and located in the locality where the Premises are located.

Prudent Operator has the meaning set forth in the applicable Collateral Document.

Prudent Operator means a prudent and competent operator of services similar to the Services, acting reasonably in good faith;

Prudent Operator has the meaning set forth in the applicable Security Document.

Prudent Operator means a person acting in good faith with the intention of performing its contractual obligations under this agreement and who in so doing and in the general conduct of its undertaking, exercises that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be exercised by a skilled and experienced operator complying with applicable law and engaged in the same type of undertaking and under the same or similar circumstances and conditions;

Prudent Operator means a prudent and competent operator of services similar to the services to be provided under this Permit, acting reasonably in good faith