Common use of PROJECT STANDARDS Clause in Contracts

PROJECT STANDARDS. To ensure that the Company is conducting its Business and operations in a manner that, among other things: (a) is consistent with the Founding Shareholders’ commercial objectives for the Project and the highest ethical standards; (b) ensures the maintenance of best practices that create a safe environment; (c) complies with international industry standards and all Laws to which the Company is subject; and (d) implements good corporate governance and sound corporate social responsibility, the Shareholders agree that the Board may, from time to time, adopt, amend, alter, or add to such policies, standards, and operational procedures (the “Project Standards”) as it deems appropriate. The Project Standards shall be adopted based on maximized value for the Company and its stakeholders. The Project Standards shall include the policies described in this Section 15.