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 engineered nonwoven fabrics 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 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.
Sample 1
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.
Sample 1

Examples of Prudent Practice in a sentence

  • 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.

  • Decommissioning Obligation 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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 those practices, methods and acts which:
Sample 1
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.
Sample 1
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 Xxxxxxx’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 be performed perfectly with the result that modifications and improvements may have to be made and sometimes at substantial cost to Cascade.
Sample 1
Prudent Practice means any of the practices, methods, techniques, standards
Sample 1

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 (a) the standards generally followed by the United States pipeline and terminalling industries or (b) such higher standards as may be applied or followed by the Xxxxx Entities in the performance of similar tasks or projects, or by the Partnership Entities in the performance of similar tasks or projects.

  • Best management practice or “BMP” means structural or non-structural measures, practices, techniques or devices employed to avoid or minimize sediment or pollutants carried in runoff to waters of the state.

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and 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 in a similar type of undertaking under the same or similar circumstances.

  • Prudent Operating Practice means the practices, methods and standards of professional care, skill and diligence engaged in or approved by a significant portion of the electric power industry for facilities of similar size, type, and design, that, in the exercise of reasonable judgment, in light of the facts known at the time, would have been expected to accomplish results consistent with Law, reliability, safety, environmental protection, applicable codes, and standards of economy and expedition. Prudent Operating Practices are not necessarily defined as the optimal standard practice method or act to the exclusion of others, but rather refer to a range of actions reasonable under the circumstances.

  • Prudent Industry Practices means, at a particular time, any of the practices, methods and acts which, in the exercise of reasonable judgment, will result in the proper operation and maintenance of the assets owned by a Party or its Affiliates and shall include, without limitation, the practices, methods and acts engaged in or approved by a significant portion of the industry at such time with respect to the assets of the same or similar types as the assets owned by such Party or its Affiliates. Prudent Industry Practices are not intended to be limited to optimum practices, methods or acts, to the exclusion of all others, but rather represent a spectrum of possible practices, methods and acts which could have been expected to accomplish the desired result at a commercially reasonable cost in a reliable, safe and timely fashion, in compliance with the applicable limited partnership agreement and limited liability company agreement and in accordance with all applicable laws. Prudent Industry Practices are intended to entail the same standards as the Parties would, in the prudent management of their own properties, use from time to time.

  • Good Practice means such practice in the processing of personal data as appears to the Commissioner to be desirable having regard to the interests of data subjects and others, and includes (but is not limited to) compliance with the requirements of this Act;

  • Group practice means a group of two or more health care providers legally organized as a partnership, professional corporation, or similar association:

  • Best management practices (BMP) means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the United States. BMPs include treatment requirements, operation procedures, and practices to control plant site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.

  • concerted practice means co-operative or co-ordinated conduct between firms, achieved through direct or indirect contact, that replaces their independent action, but which does not amount to an agreement;

  • Good Industry Practices means the practices that would be adopted by, and the exercise of that degree of care, skill, diligence, prudence and foresight that reasonably would be expected from, a competent contractor in the international oil and gas industry experienced in performing work similar in nature, size, scope and complexity to the Work and under conditions comparable to those applicable to the Work, where such work is subject to, and such contractor is seeking to comply with, the standards and codes specified in the Contract or (to the extent that they are not so specified) such national or international standards and codes as are most applicable in the circumstances, and the applicable Law.

  • Unfair practice means (i) establishing contact with any person connected with or employed or engaged by the Authority with the objective of canvassing, lobbying or in any manner influencing or attempting to influence the Bidding Process; or (ii) having a Conflict of Interest; and

  • fradulent practice means a misrepresentation or omission of facts in order to influence a procurement process or the execution of contract;

  • Best Practices means a term that is often used inter-changeably with “evidence- based practice” and is best defined as an “umbrella” term for three levels of practice, measured in relation to Recovery-consistent mental health practices where the Recovery process is supported with scientific intervention that best meets the needs of the Client at this time.

  • Forest practice means any activity conducted on or directly pertaining to forest land and relating to growing, harvesting, or processing timber, including but not limited to:

  • Unsafe or unsound practice means a practice or conduct by a

  • Standards of Practice means the care, skill, and

  • Prudent means economically and otherwise reasonable in light of the social benefits to be derived from the proposed regulated activity provided cost may be considered in deciding what is prudent and further provided a mere showing of expense will not necessarily mean an alternative is imprudent.

  • Best Industry Practice means that degree of skill, care and foresight and operating practice that would reasonably and ordinarily be expected of a skilled and competent supplier of services engaged in the same type of undertaking as that of the Recipient or any contractors (as applicable) under the same or similar circumstances as those contemplated by this Agreement.

  • Prudent Utility Practice means any of the practices, methods and acts engaged in or approved by a significant portion of the electric utility industry during the relevant time period, or 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 Utility Practice is not intended to be limited to the optimum practice, method, or act to the exclusion of all others, but rather to be acceptable practices, methods, or acts, generally accepted in the region.

  • Best Management Practices (BMPs means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the state. BMPs also include treatment requirements, operating procedures, and practices to control site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.

  • Prudent Utility Practices means those practices, methods, techniques and standards, that are generally accepted for use in electric utility industries taking into account conditions in India, and commonly used in prudent electric utility engineering and operations to design, engineer, construct, test, operate and maintain equipment lawfully, safely, efficiently and economically as applicable to power stations of the size, service and type of the Project, and that generally conform to the manufacturers' operation and maintenance guidelines.

  • Best management practice (BMP means a structural device or nonstructural practice designed to temporarily store or treat stormwater runoff in order to mitigate flooding, reduce pollution, and provide other amenities.

  • Prohibited Practice means an act that is either a Corrupt Practice or a Fraudulent Practice.

  • Prohibited Practices means the prohibited practices set forth in paragraph 4 of the Policy on Prohibited Practices;

  • Employment Practices means any wrongful or unfair dismissal, denial of natural justice, defamation, misleading representation or advertising, unfair contracts, harassment or discrimination (sexual or otherwise) in respect of employment by the Insured.