Prudent Practice definition

Prudent Practice means those good, sound and professional practices, methods, techniques and standards that are commonly used by a significant portion of the industry under similar circumstances, in light of the facts known or that reasonably should have been known by prudent operators in the pipeline business in Canada, to design, construct, operate and maintain equipment in efficiently, economically, safely and in accordance with Applicable Laws with regard to equipment of a similar size, service and type used in pipelines similar to the Carrier’s system.
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Prudent Practice means, at a particular time, either (i) any of the practices, methods and acts engaged in or approved by a significant portion of the competitive automotive manufacturing industry operating in the United States at such time, but, in any event, a standard of care and usage no less than that which the Company and its Affiliates would apply with respect to other units, equipment and facilities similar to any Unit, Equipment or the Facility owned, leased or operated by them or (ii) with respect to any matter to which the practices referred to in clause (i) do not apply, any of the practices, methods and acts that, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good competitive automotive business practices, reliability, safety and expedition. "Prudent Practice" is not intended to be the optimum practice, method or act to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts having due regard for, among other things, manufacturers' warranties, the requirements of insurance policies and the requirements of governmental bodies of competent jurisdiction.
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Prudent Practice means the practices, methods, and acts (including the practices, methods, and acts engaged in or approved by a significant portion of the applicable industry), that, at a particular time, in the exercise of reasonable judgment in light of the facts known or that should reasonably have been known at the time a decision was made, would have been expected to accomplish the desired result in a manner consistent with Applicable Laws, codes, standards, equipment manufacturer's recommendations, reliability, safety, environmental protection, cost effectiveness, and expedition, which are not limited to the optimal practices, means, methods and acts under the applicable circumstances.
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Examples of Prudent Practice in a sentence

  • The Supplier shall carry out, complete and provide the Supply Works and remedy any Defects with due skill, care and diligence: in accordance with this Agreement; in accordance with the Programme; in accordance with Prudent Practice and the Lender's Performance Standards; and so as to comply with all applicable Law.

  • During the Defects Warranty Period, the Supplier shall comply with the procedures and requirements set out in the O&M Manuals and with Prudent Practice.

  • The Supplier shall carry out and complete the Supply Works with due skill, care and diligence so as to comply with the provisions of this Agreement, the Programme, all applicable Laws, the Lender's Performance Standards, Prudent Practice, Industry Standards including in relation to the applicable standards and technical requirements for the Works as set out in the Statement of Work, with properly equipped facilities and non-hazardous materials, except as otherwise specified in this Agreement.

  • If any storage of the PV System is required, the Supplier shall ensure that such storage is in accordance with the manufacturers' instructions (where applicable) and Prudent Practice.

  • Prior to the Commercial Operation Date, the Project Company shall procure the design, engineering, financing, insurance, Construction, commissioning, testing, completion and transfer to the Buyer of the Check Meter in accordance with the Laws of the Relevant Jurisdiction, all Authorisations, applicable Codes, the Grid Connection Agreement, Prudent Practice and the standards of a Reasonable and Prudent Operator.

  • At the end of the operational life of the Facility or if earlier, by such date as required by Law or the Land Agreement if the Project Company is still the owner of the Facility, the Project Company undertakes to decommission and dismantle the Facility and clear the Site in accordance with Law, all Authorisations, Codes, Prudent Practice, the Grid Connection Agreement, the standards of a Reasonable and Prudent Operator and if applicable, the Land Agreement.

  • If any storage of the PV System or the Balance of Plant is required after acceptance of the same by the Installation Contractor at the PV System Delivery Point, the Installation Contractor shall ensure that such storage is in accordance with the manufacturers' instructions (where applicable) and Prudent Practice.

  • During the Defects Warranty Period, the Installation Contractor shall comply with the procedures and requirements set out in the O&M Manuals and with Prudent Practice.

  • The Project Company shall procure the design, engineering, financing, insurance, Construction, commissioning, testing, completion, Operation and Maintenance and decommissioning1 of: the Facility; and the Main Meter2, and in each case in accordance with the Laws of the Relevant Jurisdiction, all Authorisations, applicable Codes, the Grid Connection Agreement, Prudent Practice and the standards of a Reasonable and Prudent Operator.

  • All operation and maintenance of the Facilities shall be performed in accordance with Prudent Practice, the Solid Waste Disposal Site Permit issued to the County by Oregon DEQ State, the modified Title V Permit to be procured by the County, and Division 239 requirements, including the operating, monitoring, and recordkeeping requirements included therein.


More Definitions of Prudent Practice

Prudent Practice means, at a particular time, either (i) any of the practices, methods and acts engaged in or approved by a significant portion of the competitive engineered nonwoven fabrics industry operating in the United States at such time, but, in any event, a standard of care Conformed Copy through Second Amendment dated October 7, 2011 and usage no less than that which the Company and its Affiliates would apply with respect to other equipment and facilities similar to the Equipment or the Facility owned, leased or operated by them or (ii) with respect to any matter to which the practices referred to in clause (i) do not apply, any of the practices, methods and acts that, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good competitive engineered nonwoven fabrics business practices, reliability, safety and expedition. “Prudent Practice” is not intended to be the optimum practice, method or act to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts having due regard for, among other things, manufacturers’ warranties, the requirements of insurance policies and the requirements of governmental bodies of competent jurisdiction.
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Prudent Practice means the exercising of the same degree of care and control considered reasonable in similar circumstances by other entities of a size comparable to the County or Cascade as the case may be, when confronting the same or similar circumstances. In applying the standard of Prudent Practice, equitable consideration should be given to the circumstances, the complexity of the equipment or the tasks involved, the facts known by the Parties at the time, the fact that neither Party is in a position or in the business of being an insurer or guarantor, the then current state of technology, and with respect to ▇▇▇▇▇▇▇’s Facilities at the Solid Waste Facility, recognizing that the equipment will not always operate as designed and that construction and erection of equipment will not always
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Prudent Practice means any of the practices, methods, techniques, standards
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Prudent Practice means those practices, methods and acts which:
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Related to Prudent Practice

  • Best Practice means solutions, techniques, methods and approaches which are appropriate, cost-effective and state of the art (at Member State and sector level), and which are implemented at an operational scale and under conditions that allow the achievement of the impacts set out in the award criterion ’Impact’ first paragraph (see below).

  • Prudent Industry Practice means such practices, methods, acts, techniques, and standards as are in effect at the time in question that are consistent with the higher of (a) the standards generally followed by the United States pipeline and terminalling industries and (b) the standards applied or followed by Delek US or its Affiliates in the performance of similar tasks or projects, or by the Partnership Group or its Affiliates in the performance of similar tasks or projects.

  • Best management practice or "BMP" means schedules of activities, prohibitions of practices, including both structural and nonstructural practices, maintenance procedures, and other management practices to prevent or reduce the pollution of surface waters and groundwater systems from the impacts of land-disturbing activities.

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the exercise of the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged within the relevant industry or business sector;

  • Prudent Operating Practice means (a) the applicable practices, methods and acts required by or consistent with applicable laws and reliability criteria, and otherwise engaged in or approved by a significant portion of the electric power industry during the relevant time period in the Western United States, or (b) any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, reliability, safety and expedition. Prudent Operating Practice is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to acceptable practices, methods or acts generally accepted in the electric power industry in the Western United States.