Reasonable and Prudent Operator definition

Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

Reasonable and Prudent Operator means a person seeking, in good faith, to perform its contractual obligations and, in so doing and in the general conduct of its undertaking, exercising that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced operator complying with all applicable Legal Requirements engaged in the same type of undertaking in similar circumstances and conditions;

Reasonable and Prudent Operator and “RPO” shall mean a person seeking in good faith to perform its contractual obligations, and in so doing and in the general conduct of its undertaking exercising that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person complying with applicable law engaged in the same type of undertaking in the same or similar circumstances and conditions, and any reference to the “standard of a Reasonable and Prudent Operator” shall be construed accordingly;

Examples of Reasonable and Prudent Operator in a sentence

• The indemnity inunder this section 11.9; and 11.10 is subject to the limitations and exclusions set out in sections 16.1 to 16.8. (b) be deemed not to have acted as a Reasonable and Prudent Operator; if its Daily or Hourly Overrun or Over-Flow result in a Critical Contingency being declared.

• Without limiting First Gas’s or a Shipper’s obligation to act as a Reasonable and Prudent Operator or to mitigate its Loss arising out of or in relation to Non-Specification Gas that enters, or is in, the Transmission System, each Party acknowledges that should Non-Specification Gas enter, or be in, the Transmission System, First Gas is unlikely to be able to prevent that gas from reaching a Delivery Point.

• Each Shipper shall act as a Reasonable and Prudent Operator when exercising or performing any of its rights, powers, obligations and duties under this Code.

• First Gas shall act as a Reasonable and Prudent Operator when exercising or performing any of its rights, powers, obligations and duties under this Code.

• Without limiting any other provision of this Code, First Gas shall have regard, acting as a Reasonable and Prudent Operator, to whether it should buy or sell Balancing Gas pursuant to this section 8.6 in order to facilitate the provision of DNC and Supplementary Capacity (including to support the transportation of Approved NQs), to manage the Target Taranaki Pressure in accordance with section 3.33, and/or to manage or maintain Line Pack and/or pipeline pressure within operational limits more generally.

More Definitions of Reasonable and Prudent Operator

Reasonable and Prudent Operator means, in relation to the performance of obligations under this Operating Code:

Reasonable and Prudent Operator means, as what concerns the TSO and the Network User, the degree of diligence, prudence and foresight reasonable and ordinarily exercised by experienced operators engaged in the same line of business under the same or similar circumstances and conditions having due consideration to the interest of the other Party under this Agreement .

Reasonable and Prudent Operator means a person acting in good faith with the intention of performing its obligations under the Licence 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.

Reasonable and Prudent Operator means an Entity fulfilling its obligations with that degree of diligence, skill, prudence and foresight as reasonably and ordinarily exercised by experienced operators engaged in the same line of business under the same or similar cir- cumstances and conditions and in accordance with good operating practice.

Reasonable and Prudent Operator means an operator of multi-use athletic and entertainment projects similar in scope, size, and complexity to the Premises seeking to perform its contractual obligations and maximize the use of, and the revenue generated by, its facilities, and in so doing and in the general conduct of its undertakings exercises that degree of skill, diligence and prudence that would reasonably and ordinarily be expected from a skilled and experienced operator of Comparable NFL Facilities complying with all Applicable Law and engaged in the same type of undertaking.

Reasonable and Prudent Operator when used to describe the standard of care to be exercised by a Party in performing its obligations hereunder shall mean that degree of diligence, prudence and foresight reasonably and ordinarily exercised by experienced operators engaged in the same line of business under the same or similar circumstances and conditions having due consideration to the interests of the other Party;

Reasonable and Prudent Operator and its abbreviation “RPO” shall mean a person seeking in good faith to perform its contractual obligations hereunder and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances, and any reference to the standard of a Reasonable and Prudent Operator shall mean such degree of diligence, prudence and foresight as aforesaid.