Prudent Industry Practice

Example Definitions of "Prudent Industry Practice"
Prudent Industry Practice. Refers to those practices in the operation, maintenance and management of online-game facilities and systems to meet requirements in terms of security, efficiency, cost-effectiveness and reliability and other requirements of manufacturers or developers, that are widely recognized and followed by enterprises in the same industry as Party B, which practices may be changed from time to time
Prudent Industry Practice. The practices, methods or acts that are engaged in by a significant number of Crude Oil pipeline carriers or shippers, as applicable, in the United States during the relevant time period, or any other that, in the exercise of reasonable judgment in light of the facts known at the time a decision is made, could have been expected to accomplish a desired result at a reasonable cost consistent with good business practices, reliability, safety and expedition. Prudent Industry Practices are not... intended to be the optimum practice, method, or act to the exclusion of others, but rather to be a spectrum of acceptable practices, methods, or acts generally accepted by Crude Oil pipeline carriers for the operation, maintenance and/or repair of Crude Oil pipeline facilities or shipment of Crude Oil in the United States. Prudent Industry Practice shall not be determined after the fact in light of the results achieved by the practices, methods, or acts undertaken but rather shall be determined based upon the consistency of the practices, methods, or acts when undertaken with the standard set forth in the first two (2) sentences of this definition at such time View More
All Definitions