Prudent Person Standard definition

Prudent Person Standard means the standard of care, skill and diligence that can reasonably be expected from an expert in investment;
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Prudent Person Standard means to act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in making a decision of like character and with like aims.
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Examples of Prudent Person Standard in a sentence

  • It is agreed that the Prudent Person Standard set forth in the foregoing sentence constitutes the sole standard of care imposed upon Adviser by this Agreement.

  • Adviser shall perform its duties hereunder with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims (the "Prudent Person Standard").

  • Client agrees that Adviser shall not be liable for (i) any loss suffered by reason of any investment decision, recommendation, or other action taken or omitted in good faith and in accordance with the Prudent Person Standard described above; (ii) any loss arising from Adviser's adherence to Client's instructions; or (iii) any act or failure to act by the Custodian, by any broker or dealer to which Adviser directs transactions for the Account, or by any other third party.

  • Client agrees that Adviser shall not be liable for (i) any loss suffered by reason of any investment decision, recommendation, or other action taken or omitted in good faith and in accordance with the Prudent Person Standard described above; (ii) any loss arising from Adviser’s adherence to Client’s instructions; or (iii) any act or failure to act by the Custodian, by any broker or dealer or transfer agent to which Adviser directs transactions for the Account, or by any other third party.

  • The Prudent Person Standard shall be used in determining whether the General Partner has satisfied its obligation of good faith and fair dealing.