Common use of Management Standards Clause in Contracts

Management Standards. Subject to the terms hereof, the Administrator will act in material compliance with the provisions of this Agreement, and perform the Services in accordance with prudent industry practices and with a degree of care, diligence and skill of a reasonably prudent manager involved in the Services to entities involved in the identification, acquisition, disposition, ownership, finance and of oil and natural gas assets. The Administrator shall have no obligation to advance funds for the account of the Company or to pay any sums of its own in connection with the performance of the actions which it is authorized or required to take on behalf of the Company hereunder.