Prudent Person definition

Prudent Person means a fiduciary responsibility to discharge one’s duties to DPERS solely in the interests of participants and their beneficiaries with such care, skill, prudence, and diligence as a person acting in like circumstances would exercise in the conduct of an enterprise with similar characteristics and aims.

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Prudent Person would exercise or use under the circumstances in the conduct of such person's own affairs.

Prudent Person. Rule May Be Waived In The Discretion of Trustee. In addition to the investment powers conferred above, the trustee is specifically authorized (but not directed) to acquire and retain investments not regarded as traditional for trusts, including investments that would be forbidden or would be regarded as imprudent, improper or unlawful by the "prudent person" rule, "prudent investor" rule, or any other rule or law which restricts a fiduciary's capacity to invest. The trustee, in the exercise of its discretion may invest in any type of property, wherever located, including any type of security or option, improved or unimproved real property, and tangible or intangible personal property, and in any manner, including direct purchase, joint ventures, partnerships, limited partnerships, limited liability companies, corporations, mutual funds, business trusts or any other form of participation or ownership whatsoever. In making investments, the trustee may disregard any or all of the following factors: (1) Whether a particular investment, or the trust investments collectively, will produce a reasonable rate of return or result in the preservation of principal. (2) Whether the settlor, or any person related to the settlor, the trustee, or entities in which one or more of them participate or are beneficially interested also owns an interest in, or is a director, officer or otherwise participates in, a particular investment. (3) Whether the trust is diversified. The settlor intends that no duty to diversify shall exist. (4) Whether any or all of the trust investments would traditionally be classified as too risky or speculative for trusts. The entire trust may be so invested. The settlor intends the trustee to have its sole and absolute discretion in determining what constitutes acceptable risk and what constitutes proper investment strategy. The settlor's purpose in granting the foregoing authority is to modify the "prudent person" rule, "prudent investor" rule, or any other rule or law which restricts a fiduciary's ability to invest insofar as any such rule or law would prohibit an investment or investments because of one or more factors listed above, or any other factor relating to the nature of the investment itself. It is in the best interests of the beneficiaries of the trusts created hereunder to give the trustee broad discretion in managing the assets of any trust created hereunder Notwithstanding anything contained hereunder, the waiver described in this Su...

Examples of Prudent Person in a sentence

• Subject to its obligations under this Contract, the Operator may (but is not obliged to) compress, cool, heat, clean and apply other processes to Gas during transportation acting as a Reasonable and Prudent Person consistent with its operation of the DBNGP.

• The Operator may do all things expected of a Reasonable and Prudent Person to maintain a balance between total Gas inputs to, and total Gas outputs from, the DBNGP, including (subject to the provisions of this clause and this Contract) restricting the quantity of Gas it Delivers to the Shipper at an Outlet Point, and restricting the quantity of Gas it Receives from the Shipper at an Inlet Point in accordance with this Contract.

• The Operator may in its discretion as a Reasonable and Prudent Person specify the range of pressures within which the Shipper may Deliver Gas to the Operator at a New Inlet Point, and within which the Operator may Deliver Gas to the Shipper at a New Outlet Point but in no case may the specified range of pressures be substantially different from the DBNGP operating pressure range at that point.

• It is agreed that the Prudent Person Standard set forth in the foregoing sentence constitutes the sole standard of care imposed upon Adviser by this Agreement.

• Power* may request information A request under clause 4.1 must not be made more than once in any 12 month period, except in an Emergency* or where any forecasts provided by the User* materially differ from the User*'s actual performance and, in the opinion of Western Power* (as a Reasonable and Prudent Person*), require revision in order to facilitate the operation of the Network* in accordance with Good Electricity Industry Practice*.

• If Western Power notifies the User of a Curtailment of Services under clause 25.3 in respect of a Connection Point, the User (acting as a Reasonable and Prudent Person) must comply, or procure compliance, with any reasonable requirements set out in the notice concerning the Curtailment.

• User and ADEWAP (each acting as a Reasonable and Prudent Person) must cooperate and coordinate with each other where reasonably necessary in relation to the planning, development, inspection, testing and commissioning of Facilities and Equipment for a Connection Point and Network Assets for the Network.

• If ADEWAP notifies User of a Curtailment under clause 5.1 in advance of a requirement for User to take any action, User (acting as a Reasonable and Prudent Person) must comply, or procure compliance, with any requirements set out in the Notice concerning the Curtailment.

• Adviser shall perform its duties hereunder with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims (the "Prudent Person Standard").

• Without limiting the generality of section 4.01, the Foundation shall ensure that the Amount that has not been disbursed or committed be invested in accordance with the Prudent Person Principle.

More Definitions of Prudent Person

Prudent Person means a trustee whose exercise of trust powers is reasonable and equitable in view of the interests of income or principal beneficiaries, or both, and in view of the manner in which persons of ordinary prudence, diligence, discretion, and judgment would act in the management of their own affairs.

Prudent Person means an individual who uses good judgement or common sense in handling practical matters. The actions of a person exercising common sense in a similar situation are the guide in determining whether an individual’s actions were reasonable.

Prudent Person means a person who:

Prudent Person means the persons performing the County’s Investment functions shall act as a “prudent person” in accordance with County Policies and Procedures exercising due diligence. Investments shall be made with judgment and care, under prevailing circumstances, which persons of prudence, discretion, and intelligence would exercise in the management of their own affairs, not for speculation, but for investment to protect from shady, risky, or otherwise questionable Investments.