Operating Standard definition

Operating Standard means the operation, maintenance, and repair of the Premises in a manner consistent with the standards of operations, maintenance, and operating and maintenance plans that a Reasonable and Prudent Operator would reasonably be expected to undertake and follow for the operation, maintenance, and repair of a Comparable NFL Facility.

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Operating Standard shall have the meaning set forth in Section 2.1.4.

Operating Standard. Operation of the Leased Property for the Primary Intended Use (x) consistent with the standards of operations, maintenance and repair that a reasonable and prudent operator would reasonably be expected to undertake and follow for the operation, maintenance and repair of a comparable facility in the geographic location in which the applicable Facility is located, (y) at least substantially consistent with the standard of operations of each Facility, as applicable, on the date hereof, with due regard to reasonable wear and tear, and (z) which shall be performed (i) with respect to Facilities located in Las Vegas, Nevada, in a Non-Discriminatory manner with other similar assets owned, leased, managed or operated by Tenant’s Parent and/or its Subsidiaries, including without limitation, with respect to the usage and allocation of proprietary information and systems related to the operating of gaming, hotel and related businesses, centralized services, purchasing programs, insurance programs, Tenant’s Intellectual Property, complimentaries, room rates and cross-marketing and cross-promotional activities with other similar properties owned, leased or operated by Tenant’s Parent and/or its Subsidiaries in Las Vegas, Nevada (it being understood that ▇▇▇▇, Vdara, Bellagio, Mandalay Bay and MGM Grand shall be excluded for the purpose of the foregoing analysis), and (ii) with respect to Facilities not located in Las Vegas, Nevada, in a Non-Discriminatory manner with other similar assets owned, leased, managed or operated by Tenant’s Parent and/or its Subsidiaries, including without limitation, with respect to the usage and allocation of proprietary information and systems related to the operating of gaming, hotel and related businesses, centralized services, purchasing programs, insurance programs, Tenant’s Intellectual Property, complimentaries, room rates and cross-marketing and cross-promotional activities with other similar properties owned, leased or operated by Tenant’s Parent and/or its Subsidiaries outside of Las Vegas, Nevada (taking into account the quality of the operations and level of services provided at each of the applicable Facilities not located in Las Vegas, Nevada).

Examples of Operating Standard in a sentence

• At all times during the Term and on a twenty-four (24) hour basis, StadCo shall provide, at its sole cost and expense security and security personnel at, and outside of, the Premises necessary to satisfy the Operating Standard.

• If, in the sole opinion of AT&T, circumstances so warrant and/or gross monthly billing has increased beyond the level initially used to determine the level of security, AT&T reserves the right to request additional security and/or file a Uniform Commercial Code (UCC1) security interest in Carrier’s “accounts receivables and proceeds.” Interest on a security deposit, if provided in cash, shall accrue and be paid in accordance with the terms in the appropriate AT&T tariff.

• Tenant acknowledges that, pursuant to the Omnibus Agreement, Services Co makes available to Manager the Proprietary Information and Systems, and that the use by Manager and ownership of such Proprietary Information and Systems shall be governed by the Omnibus Agreement; provided that such use by Manager shall be made in accordance with the Operating Standard, and in any event, in a Non-Discriminatory manner.

• Subject to the provisions of Section 5.1 relating to the Annual Budget, the Managed Facility’s specific marketing program shall be in accordance with the Operating Standard, and in any event shall be Non-Discriminatory, and comply with the sales, advertising and public relations policies and guidelines and corporate identity requirements established by Manager, for Other Managed Facilities and Other Managed Resorts, as such policies, guidelines and requirements may be modified from time to time.

• Commencing on the Term Commencement Date and continuing thereafter during the remainder of the Term, StadCo shall manage and operate the Premises, or cause the Premises to be managed and operated, as a multi- purpose stadium in compliance with all Applicable Laws in accordance with the Operating Standard.

More Definitions of Operating Standard

Operating Standard means the operation, maintenance, and repair of the Premises in a manner consistent with NASCAR Cup Race Requirements and the standards of operations, maintenance, and operating and maintenance plans that a Reasonable and Prudent Operator would reasonably be expected to undertake and follow for the operation, maintenance, and repair of Comparable Facilities.

Operating Standard has the meaning ascribed thereto in Section 3.1(a).

Operating Standard means with respect to the Property, that the Property shall be managed, operated, serviced (including, without limitation, customer service), maintained, repaired and refurbished (i) to a standard of operation equal to or exceeding the standard of operation at which the Property was operated as of the Effective Date to the extent that funds available pursuant to the Approved Annual Plan and Operating Budget, as amended from time to time, or otherwise provided by Owner, permit the operation, management, service, repair, maintenance and refurbishment of the Property to such standard, (ii) consistent with the terms and conditions of this Agreement, and (iii) in accordance with the standards, policies and programs in effect, from time to time, that are applicable to the operation of the Property; provided that, to the extent that funds available pursuant to the Approved Annual Plan and Operating Budget, as amended from time to time, or otherwise provided by Owner, permit operation of the Property to such standard, the Operating Standard will not be less than the standard of operations for (A) the properties in the Operating Competitive Set, and (B) the Comparable Manager Properties, but in each case taking into account any differences in age, quality, size, location, amenities, amount of meeting space, business mix, and other physical and operation variations for such properties in the Operating Competitive Set and for such properties consisting of Comparable Manager Properties, and specifically with respect to Comparable Manager Properties, any differences in Manager’s centralized services that are provided to such properties and not provided to the Property.

Operating Standard means the operating standard described in clause 6.4.1;

Operating Standard. Operation of the Leased Property for the Primary Intended Use in a first class manner and at least substantially consistent with the standard of operations of the Facility on the Effective Date and which shall be performed in a Non-Discriminatory manner with other assets owned, leased, managed or operated by Tenant’s Parent or its Subsidiaries, including without limitation, with respect to the usage and allocation of proprietary information and systems related to the operating of Gaming, hotel and related businesses, Tenant Rewards Program, centralized services, purchasing programs, insurance programs, Intellectual Property, Guest Data, complimentaries, room rates and cross-marketing and cross-promotional activities with other properties owned, leased or operated by Tenant’s Parent and its Subsidiaries.

Operating Standard means the continuous operation, maintenance and repair of the Complex on a full-service basis in a manner consistent with (i) other First Class amphitheaters in the United States; (ii) current prudent business and management practices applicable to the operation, repair, maintenance and management of a First Class amphitheater, including compliance with Applicable Law; (iii) the requirements and limitations set forth in this Agreement; (iv) at a minimum, the standards applicable to other amphitheaters operated by Owner or an affiliate of Owner; and (v) keeping the Complex in a clean, sanitary and attractive condition, and reasonably calculated to protect and preserve the assets and the Parties’ investment in the Complex.

Operating Standard means, subject to the limitations of the Project Budget and the availability of funds, the standards according to which the CityCenter Project (and the Crystals Component thereof) is to be operated, maintained, furnished, equipped and refurbished, that is, as reasonably deemed necessary by the General Manager or the Retail Operator (a) with respect to the Crystals Component, at a level of service and quality generally considered to be “world class luxury level,” (b) in accordance with the terms of all Financing Instruments, including, but not limited to, any Mortgage, (c) in accordance with, subject to Section 8.1, the applicable approved Project Budget, and (d) in a manner reasonably expected to: (i) protect and preserve the assets that comprise the CityCenter Project (and the Crystals Component thereof), and (ii) maximize the profitability and value of both the CityCenter Project as a whole, and the Crystals Component thereof over the ensuing five (5) year period.