Industry Standards and Practices definition

Industry Standards and Practices means the practices, methods, standards and procedures that:
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Examples of Industry Standards and Practices in a sentence

  • The charges will be no higher than the usual prices charged by the Affiliated Company to third parties for comparable Services under similar terms and conditions elsewhere and will be fair and reasonable in the light of Best International Industry Standards and Practices.

  • Meetings may be held in order to resolve in good faith any technical difference that may exist regarding to the observations of the Work Programme, in accordance with the Best International Industry Standards and Practices and the Applicable Laws.

  • The Contractor shall be liable to keep the assets in good repair and working order in accordance with Best International Industry Standards and Practices.

  • The Minister shall approve the Work Programmes if they comply with: (i) the Minimum Work Programme, the Exploration Plan and the Development Plan, as applicable; (ii) the terms of the Accounting Procedures and the other terms and conditions of this Agreement; (iii) Best International Industry Standards and Practices; (iv) the Environmental and Safety Management System, and (v) the Applicable Laws.

  • The level of production set shall be consistent with the maximum efficient recovery of resources which conforms to sound reservoir engineering principles in accordance with Best International Industry Standards and Practices.

  • This Agreement shall be governed by, interpreted, and construed in accordance with the Laws of the Cooperative Republic of Guyana, and, consistent with such rules of international law as may be applicable or appropriate, including the Best International Industry Standards and Practices.

  • All Work Programmes shall comply with the Applicable Law, the environmental and safety management system and the other terms and conditions of this Agreement and Best International Industry Standards and Practices.

  • The Minister may deny approval of the Work Programmes if the Contractor (i) does not comply with the Minimum Exploration Work Programme, or the additional commitments made for the Appraisal Period and, or Retention Period; (ii) the Work Programme submitted during the Development Period modifies the Development Plan, and (iii) the Work Plan does not comply with Best International Industry Standards and Practices.

  • The safety management system must comply with applicable provisions of environmental, labour, safety, and social protection, maritime and other applicable national and Best International Industry Standards and Practices.

  • All proposed Budgets shall at minimum be commercially viable, reasonable and consistent with the requirements of this Agreement, its annexes and Best International Industry Standards and Practices.