Reasonable and Prudent Standard definition
Reasonable and Prudent Standard means the standard of a person seeking in good faith to comply with its contractual obligations and, in so doing and in the general conduct of its undertaking, exercising that degree of skill, diligence, prudence and foresight that would reasonably and ordinarily be expected from a skilled and experienced person complying with all applicable Laws, Directives, Industry Documents and Required Authorisations and engaged in the same type of undertaking under the same or similar circumstances and conditions;
Reasonable and Prudent Standard means the standard of a person seeking honestly and diligently to comply with its contractual obligations and, in so doing and in the general conduct of its undertaking, exercising that degree of skill, diligence, prudence and foresight that would reasonably and ordinarily be expected from a skilled and experienced person complying with all applicable Laws, Directives, Industry Documents and Required Authorisations and engaged in the same type of undertaking under the same or similar circumstances and conditions, including taking account of nuclear safety procedures and relevant guidance;
Reasonable and Prudent Standard has the meaning given in the HPC CfD as at the date of this Agreement;
Examples of Reasonable and Prudent Standard in a sentence
As soon as reasonably practicable following the LCHA Counterparty's request, all Information (kept to the Reasonable and Prudent Standard) that the LCHA Counterparty reasonably requests that represents the status and progress of the Project to date against contractual and Project milestones, showing the critical path of the Project towards these milestones up to the delivery of a Final Installed Capacity Notice.