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 and assets similar in use and configuration to the Pledged Collateral and located in the locality where the Pledged Collateral is located.

Examples of Prudent Operator in a sentence

• In exercising its powers and performing its duties as Assignee’s agent and representative, Assignor shall act in good faith and in accordance with the Reasonably Prudent Operator Standard.

• Assignor shall market or shall cause to be marketed Assignor’s Net Share of Minerals (including Assignee Minerals) in good faith and in accordance with the Reasonably Prudent Operator Standard and Section 4.02(d).

• 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.

• It shall not be a violation of such standard of conduct for Assignor (i) to sell Assignor’s Net Share of Minerals or Assignee Minerals to an Affiliate pursuant to any purchase agreement or contract, or (ii) to delegate some or all of Assignor’s duties as Assignee’s agent and representative to its Affiliates (so long as such Affiliates perform in good faith and in accordance with the Reasonably Prudent Operator Standard), with Assignor remaining liable to Assignee for the performance of such duties.

More Definitions of Prudent Operator

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.

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 means the standard of care taken by a prudent operator of property similar in use and configuration to the Leased Premises and located in the locality where the Leased Premises are located.

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

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