Prudent Industry Practices means, at a particular time, any of the practices, methods and acts which, in the exercise of reasonable judgment, will result in the proper operation and maintenance of the assets owned by a Party or its Affiliates and shall include, without limitation, the practices, methods and acts engaged in or approved by a significant portion of the industry at such time with respect to the assets of the same or similar types as the assets owned by such Party or its Affiliates. Prudent Industry Practices are not intended to be limited to optimum practices, methods or acts, to the exclusion of all others, but rather represent a spectrum of possible practices, methods and acts which could have been expected to accomplish the desired result at a commercially reasonable cost in a reliable, safe and timely fashion, in compliance with the applicable limited partnership agreement and limited liability company agreement and in accordance with all applicable laws. Prudent Industry Practices are intended to entail the same standards as the Parties would, in the prudent management of their own properties, use from time to time.
Prudent Industry Practices means those practices, methods, standards, and acts (including those engaged in or approved by a significant portion of the solar-generated electric power industry and/or the North American Electric Reliability Corporation) of similarly situated engineering or construction firms, as applicable, on projects similar in size, nature, complexity and geographic region as the Project that at a particular time in the exercise of good judgment, and in light of the facts known at the time the decision was made, would have been expected to accomplish the desired result in compliance with all Legal Requirements and in a manner consistent with economy and expedition. Prudent Industry Practices are not necessarily defined as the optimal standard practice method or act to the exclusion of others, but rather refer to a range of action reasonable under the circumstances.
Prudent Industry Practices means any of the practices, methods and acts engaged in or approved by a significant portion of the Wood Pellet production industry for Wood Pellet Production Facilities and Port Facilities that are similar to the Facilities in the United States during the relevant time period, or any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, sound engineering practices, reliability, safety and expedition. For the avoidance of doubt, “Prudent Industry Practices” is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to be acceptable principles, methods and acts generally accepted in the United States, having due regard for, among other things, the preservation of manufacturers’ warranties and operating instructions, the requirements or guidance of Governmental Authorities, applicable laws, applicable operating guidelines and rules and the requirements of insurers.
Examples of Prudent Industry Practices in a sentence
Company shall take reasonable safety and security measures not less stringent than is consistent with Prudent Industry Practices to reduce the risk of damage to the Solar Facility or the risk that the Solar Facility, including, without limitation, the construction installation, or operation thereof, could cause damage, injury or death to people, livestock and other animals, or property.
Company shall maintain the Solar Facility and the Interconnection Facilities in good condition and working order, and Company shall maintain the Leased Property and the Easements in a neat, clean and orderly condition, consistent with Prudent Industry Practices.
QF shall design, engineer, construct, test, and commission the Facility in accordance with Prudent Industry Practices and applicable Legal Requirements.
In the event, and to the extent, that the meters used to determine the output of the Facility are not measuring deliveries of electric energy physically at the Interconnection Point, the metered amount of electric energy shall be adjusted to or from the Interconnection Point (as applicable) by a loss factor determined by Alabama Power, in accordance with Prudent Industry Practices.
In furtherance of the safety and reliability of the Electric System, QF shall at its sole cost and expense manage, control, construct, operate and maintain the Facility (or cause others to manage, control, construct, operate and maintain the Facility) in a manner consistent with Prudent Industry Practices, applicable Legal Requirements, and applicable reliability standards and operating policies of NERC and SERC.
More Definitions of Prudent Industry Practices
Prudent Industry Practices mean any recognized standards that may be amended from time to time for the operation, maintenance and management of Facilities and Systems by enterprises which are engaged in the same or similar business as Party B to the extent of safety, efficiency, economy, reliability and related manufacturer’s recommendations.
Prudent Industry Practices means, at a particular time, any of the practices, methods and acts engaged in or approved by a significant portion of the electric power industry prior to such time, or any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired results at the lowest cost consistent with good business practices, reliability, safety and expedition. Prudent Industry Practices is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts expected to accomplish the desired results, having due regard for, among other things, manufacturers’ warranties and the requirements of Governmental Authorities of competent jurisdiction and the requirements of this Agreement.
Prudent Industry Practices means the methods and standards, on any particular issue of operation and maintenance of the passenger bus services (i) of any Competent Authority, and (ii) as would be followed by a prudent and experienced Operator, in a project of similar nature as per the generally accepted standards of quality and performance.
Prudent Industry Practices means those practices, methods, standards and procedures as are commonly used by a significant portion of those providing operating services on wind facilities of a type and size similar to the Project, which in the exercise of reasonable judgment and in the light of the facts known at the time the decision was made, are considered good, safe and prudent practice in connection with the design, manufacture and construction and use of electrical and other equipment, facilities, equipment and improvements, with commensurate standards of safety, performance, dependability, efficiency and economy.
Prudent Industry Practices means any of the practices, methods, standards and acts (including, but not limited to, the practices, methods and acts engaged in or approved by a significant portion of the natural gas industry in the United States) that, at a particular time, in the exercise of reasonable judgment in light of the facts known or that should reasonably have been known at the time a decision was made, could have been expected to accomplish the desired result consistent with good business practices, reliability, economy, safety and expedition, and which practices, methods, standards and acts conform in all material respects to operation and maintenance standards recommended by the Facility’s equipment suppliers and manufacturers, the Facility’s design limits and applicable Governmental Approvals and Law.
Prudent Industry Practices means those practices, methods, standards and procedures as are commonly used by a significant portion of those providing operating services on solar facilities of a type and size similar to the Projects, which in the exercise of reasonable judgment and in the light of the facts known at the time the decision was made, are considered good, safe and prudent practice in connection with the design, manufacture and construction and use of electrical and other equipment, facilities, equipment and improvements, with commensurate standards of safety, performance, dependability, efficiency and economy.
Prudent Industry Practices means those practices, methods, techniques, specifications, standards, and acts (including but not limited to those engaged in or approved by a significant portion of the solar- generated electric power industry and/or the North American Electric Reliability Corporation) of design, engineering, installation, safety, maintenance, and performance, as the same may change from time-to-time, as are commonly observed in the United States and commonly performed by competent, qualified Persons performing design, development, installation, management, operation, and maintenance services on solar power generation facilities of the type and size similar to the System, which in the exercise of reasonable judgment and in light of the facts known at the time the decision was made, are (a) considered good, safe and prudent practice in connection with such services and (b) commensurate with a prudent standard of safety, performance, dependability and efficiency. Prudent Industry Practices are not necessarily defined as the optimal standard practice method or act to the exclusion of others, but rather refer to a range of action reasonable under the circumstances.