Prudent Management Practices definition
Prudent Management Practices means acts or practices undertaken by a prudent fuel manager assigned with the task of purchasing and managing the supply of gas and administering balancing and transportation arrangements to meet the prescribed daily firm obligations of a competitive non-utility power generating facility, which acts and practices in the case of Fuel Manager (or Agent as the case may be) shall be undertaken in a manner consistent with this Agreement, other contracts and agreements necessary for the operation of the Facility, and the laws, rules and regulations which may apply to the ownership and operation of the Facility.
Prudent Management Practices means those practices, procedures, methods, specifications and standards, as the same may change from time to time, as are commonly utilized as good, safe and environmentally sound practices by owners and managers of timberlands of significant size in the applicable Resource Region in managing their own timberlands with a management goal of maximizing growth and quality and maintaining a reasonably stable inventory. Prudent Management Practices include planning and implementation of silvicultural treatment programs; reforestation as required to maintain stable inventory; animal, insect and disease monitoring and control programs; management of all environmentally-sensitive areas within the owned timberlands as may be required by Applicable Law, existing agreements or best management practices for the protection of soil, water and wildlife; and implementation of fire prevention programs providing every reasonable precaution against fire, provision of a fire patrol during the fire season and prompt exertion of all reasonable efforts to suppress all fires, however caused.
Examples of Prudent Management Practices in a sentence
Throughout the Term, Partnership at its expense shall manage and maintain the Timberlands pursuant to the applicable Management Plan and in accordance with Applicable Laws, Prudent Management Practices and the applicable terms and provisions of this Agreement.