Prudent Operator Standard means that a Person will (i) perform its duties in compliance with the requirements of the Material Contracts, (ii) perform the duties in accordance with commercially reasonable applicable fuel cell industry standards (A) taking into account through the Flip Date the need to maintain qualification for a Grant (or if unavailable, the Alternative Tax Program) and to avoid any Class A Recapture Event and (B) that the Portfolio must qualify for and remain qualified to receive service under the QFCP-RC Tariff, and (iii) use sufficient and properly trained and skilled personnel.
Prudent Operator Standard means that a Person shall (a) perform its duties in good faith and as a reasonably prudent operator, (b) perform its duties in compliance with the requirements of the Project Documents, (c) exercise at least such care, skill and diligence as a reasonably prudent business company of established reputation engaged in the solar thermal energy generation business would exercise in the conduct of its business and for the advancement or protection of its own interests, and as would ordinarily be expected in the solar thermal energy generation industry from a prudent contractor, owner and/or operator acting lawfully, reliably and safely in connection with solar thermal energy generation facilities and equipment similar to the Project, (d) perform the duties in accordance with commercially reasonable solar thermal energy industry standards, (e) use sufficient and properly trained and skilled personnel, and (f) use parts and supplies that meet the specifications set forth in the Project Documents, in all cases with respect to (a) through (f) herein, taking into account all of the costs and expenses of operation of the Project.
Prudent Operator Standard means taking all such remedial measures (A) as are required to be in compliance with all then effective applicable Environmental Law and (B) that have been required by a Governmental Entity.
Examples of Prudent Operator Standard 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).
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.
It shall not be a violation of such standard of conduct for Assignor (i) to sell Assignor’s Net Share of Minerals or Assignee Minerals to an Affiliate pursuant to any purchase agreement or contract, or (ii) to delegate some or all of Assignor’s duties as Assignee’s agent and representative to its Affiliates (so long as such Affiliates perform in good faith and in accordance with the Reasonably Prudent Operator Standard), with Assignor remaining liable to Assignee for the performance of such duties.
Except as otherwise specifically provided in this Conveyance, Assignor shall (a) operate and maintain the Subject Interests and (b) make elections under each applicable lease, operating agreement, unit agreement, contract for development and other similar instrument or agreement (including elections concerning abandonment of any Development Well or release of any Subject Interest) in good faith and in accordance with the Reasonably Prudent Operator Standard.
More Definitions of Prudent Operator Standard
Prudent Operator Standard means that a Person will (a) perform its duties in good faith and as a reasonably prudent operator, (b) perform its duties in compliance with (or to cause the applicable Project Companies to comply in all materials respects with) the requirements of the Material Contracts, (c) exercise such care, skill and diligence as a reasonably prudent business company of established reputation engaged in the geothermal energy business would exercise in the conduct of its business and for the advancement or protection of its own interests, (d) perform the duties in accordance with applicable geothermal energy industry standards, taking into account, prior to the Flip Date, the requirements to maintain qualification for PTCs, (e) use sufficient and properly trained and skilled personnel, and (f) use parts and supplies that meet the specifications set forth in the Material Contracts, in all cases with respect to (a) through (f) herein, taking into account all of the costs, expenses and benefits of operation of each Project.
Prudent Operator Standard means that a Person will (a) perform its duties in good faith and as a reasonably prudent operator, (b) perform its duties in compliance with (or to cause the applicable Project Companies to comply in all materials respects with) the requirements of the Material Contracts, (c) exercise such care, skill and diligence as a reasonably prudent business company of established reputation engaged in the geothermal or recovered energy business would exercise in the conduct of its business and for the advancement or protection of its own interests, (d) perform the duties in accordance with applicable geothermal or recovered energy industry standards, (e) use sufficient and properly trained and skilled personnel, and (f) use parts and supplies that meet the specifications set forth in the Material Contracts, in all cases with respect to (a) through (f) herein, taking into account all of the costs, expenses and benefits of operation of each Project.
Prudent Operator Standard means those practices, methods, equipment, specifications and standards of safety and performance, as the same may be changed from time to time, as are generally used in the construction, operation and maintenance of privately-owned wind generated electric power generation facilities similar to the Winds Farms by Persons that sell the power generated therefrom at market-based rates, which in the exercise of reasonable judgment and in light of the facts known at the time the decision was made are considered good, safe and prudent practice in connection with the construction, operation and maintenance of wind generation facilities similar to the Wind Farms, and as are in accordance with the applicable Governmental Approvals and generally accepted national standards of professional care, skill, diligence and competence applicable to construction, operation and maintenance practices in the wind generated electric power generation industry.
Prudent Operator Standard means that a Person will (a) perform its duties in good faith and as a reasonably prudent operator, (b) perform its duties in compliance with the requirements of the Material Contracts, (c) exercise such care, skill and diligence as a reasonably prudent business company of established reputation engaged in the geothermal energy business would exercise in the conduct of its business and for the advancement or protection of its own interests, (d) perform the duties in accordance with applicable geothermal energy industry standards, taking into account, prior to the Flip Date, the requirements to maintain qualification for Tax Credits, (e) use sufficient and properly trained and skilled personnel, and (f) use parts and supplies that meet the specifications set forth in the Material Contracts, in all cases with respect to (a) through (f) herein, taking into account all of the costs, expenses and benefits of operation of each Project.
Prudent Operator Standard has the meaning given to such term in the SEPSA.
Prudent Operator Standard has the meaning given that term in Section 7.3(b).
Prudent Operator Standard means, at a particular time, those practices, standards, designs, methods, means, techniques, equipment and acts that would require a Person to: (a) perform its duties in good faith and as a reasonably prudent operator, (b) perform its duties in material compliance with the material requirements of the Project Agreements, applicable Law and Permits, (c) exercise such care, skill, integrity and diligence as a reasonably prudent business company of established reputation engaged in the wind energy business would exercise in the conduct of its business, (d) perform the duties in accordance with applicable wind energy industry standards, taking into account the requirements to qualify for federal tax credits, (e) use sufficient and properly trained and skilled personnel, (f) use parts and supplies of quality equal or superior to that supplied by the original manufacturer, provided they meet the specifications in the Project Agreements, and (g) comply with the National Electrical Safety Code, the National Electric Code, the Institute of Electronic and Electrical Engineers standards, American National Standards Institute, the rules and regulations for electric interconnection installations of the interconnecting utility and other governmental codes dealing with electrical engineering or the safe production, use or transmission of electricity, in all cases with respect to (a) through (f) (but not (g)) herein, taking into account all of the costs, expenses and benefits of operation of the Wind Plant.