Common use of ACE Overages Clause in Contracts

ACE Overages. Any Sector ACE overage that is not accounted for through a subsequent ACE transfer will be considered a violation of the Plan and regulations. NMFS may hold Members and the Sector jointly and severally liable for such overage as indicated in Article VII below. If the Sector or a Member exceeds its or their allocation, the overage will be deducted the following year on a pound for pound basis, after accounting for any transfers. A permanent reduction in Sector ACE will follow any vessels that leave the Sector. The Harvest Rules, Exhibit C, show how the Sector plans to avoid exceeding its ACE, along with actions to be taken should the ACE be exceeded. Overage penalties are identified in the schedule of penalties (Exhibit A). NMFS will withhold 20 percent of the Sector ACE at the beginning of the fishing year for a period of 61 days to allow time to process any end-of-year transfers of ACE and to determine whether any reductions in ACE are necessary due to overage in the previous year. If an overage occurs and a vessel(s) leaves the Sector but the remaining vessels have enough ACE to cover the overage deduction, the impacts on departing Members will be determined by the Infractions Committee and Board.

ACE Overages. Any Sector ACE overage that is not accounted for 43 through a subsequent ACE transfer will be considered a violation of the Plan and 44 regulations. NMFS may hold Members and the Sector jointly and severally liable for 45 such overage as indicated in Article VII below. If the Sector or a Member exceeds its or 46 their allocation, the overage will be deducted the following year on a pound for pound 1 basis, after accounting for any transfers. A permanent reduction in Sector ACE will 2 follow any vessels that leave the Sector. 4 The Harvest Rules, Exhibit C, show how the Sector plans to avoid exceeding its ACE, 5 along with actions to be taken should the ACE be exceeded. Overage penalties are 6 identified in the schedule of penalties (Exhibit A). NMFS will withhold 20 percent of the 7 Sector ACE at the beginning of the fishing year for a period of 61 days to allow time to 8 process any end-of-year transfers of ACE and to determine whether any reductions in 9 ACE are necessary due to overage in the previous year. 11 If an overage occurs and a vessel(s) leaves the Sector but the remaining vessels have 12 enough ACE to cover the overage deduction, the impacts on departing Members will be 13 determined by the Infractions Committee and Board.. 15 If an overage occurs and the Sector disbands completely each permit will receive a 16 percentage reduction in DAS equal to the maximum percentage overage of the Xxxxxx