Prudent Operator definition

Prudent Operator means a prudent operator of property similar in use and configuration to the Premises and located in the locality where the Premises are located.

Prudent Operator means the standard of care taken by a prudent operator of property and assets similar in use and configuration to the Pledged Collateral and located in the locality where the Pledged Collateral is located.

Prudent Operator means, with respect to the Operator, a reasonable, prudent operator experienced in the exploration and production of Hydrocarbons and who is, at the time of any specific determination, situated similarly to Borrower or Operator, as applicable, in all material respects, and with respect to Borrower where it is not the Operator of the Property at issue, a reasonably prudent owner of a working interest using commercially reasonable judgment who is, at the time, situated similarly to Borrower in all material respects.

Examples of Prudent Operator in a sentence

• In exercising its powers and performing its duties as Assignee’s agent and representative, Assignor shall act in good faith and in accordance with the Reasonably Prudent Operator Standard.

• Assignor shall market or shall cause to be marketed Assignor’s Net Share of Minerals (including Assignee Minerals) in good faith and in accordance with the Reasonably Prudent Operator Standard and Section 4.02(d).

• The TSO will therefore act as a Reasonable and Prudent Operator in order to facilitate the day to day operations of the delivery and the redelivery of Natural Gas, in accordance with attachment C1 of the Access Code for Transmission.

• The TSO, acting as a Reasonable and Prudent Operator, shall have the right to make interventions on all or part of the Transmission System for maintenance, repair or replacement works, which may have an impact on the availability of the Firm or Backhaul capacities.

• For purposes of determining the amount of Assignee Proceeds for any Computation Period, if, when calculating Assignee Minerals for any Computation Period, Assignor is unable to determine the precise volume of Minerals produced, sold and attributable to Assignor’s Net Share of Minerals, then Assignor shall, in good faith and in accordance with the Reasonably Prudent Operator Standard, estimate the volume of such Minerals produced, sold and attributable to Assignor’s Net Share of Minerals.

More Definitions of Prudent Operator

Prudent Operator means the standard of care taken by a prudent ---------------- operator of property similar in use and configuration to the Owned Premises or Leased Premises, as the case may be, and located in the locality where the Owned Premises or Leased Premises, as the case may be, are located.

Prudent Operator means a prudent operator of property similar ---------------- in use and configuration to the Premises and located in the locality where the Premises are located.

Prudent Operator has the meaning set forth in the applicable Collateral Document.

Prudent Operator means the standard of care taken by a prudent operator of property similar in use and configuration to the Leased Premises and located in the locality where the Leased Premises are located.

Prudent Operator means a prudent and competent operator of services similar to the Services, acting reasonably in good faith;

Prudent Operator has the meaning set forth in the applicable Security Document.

Prudent Operator means a person acting in good faith with the intention of performing its contractual obligations under this agreement and who in so doing and in the general conduct of its undertaking, exercises that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be exercised by a skilled and experienced operator complying with applicable law and engaged in the same type of undertaking and under the same or similar circumstances and conditions;