Common use of Operating Covenant Clause in Contracts

Operating Covenant. IGU will operate the Integrated Utility consistent with prudent utility practices and maintain IGU’s CPCN will be maintained in good standing, as it exists on the Effective Date or as it may be amended thereafter to incorporate FNG’s business or service territory. Among other things required by the preceding sentence, IGU will establish and execute policies to operate the Integrated Utility in an efficient manner and at a reasonable cost, to maintain, preserve, and keep the Project and all component parts of the Project in good repair, working order, and condition; and to, from time to time, make or cause to be made all necessary and proper repairs, renewals, and replacements so that the business carried on in connection with the Project will be conducted in a manner consistent with the operations of Investment Grade utilities.