Common use of Consolidation Plan Clause in Contracts

Consolidation Plan. The Sector’s ACE shall be harvested in accordance with the terms 7 and conditions of this Section 7. 8 7.1. Harvest Share Reserve. Each Member acknowledges that under NMFS 12 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 13 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 14 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 15 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 16 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 17 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 18 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 19 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 20 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 21 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 22 such that each Member receives a share of the total amount paid for distributions of each Allocated 23 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Consolidation Plan. The Sector’s ACE shall be harvested in accordance with the terms 7 6 and conditions of this Section 7. 8 . 7 7.1. Harvest Share Reserve. Each Member acknowledges that under NMFS 12 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 13 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 14 13 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 15 14 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 16 15 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 17 16 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 18 17 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 19 18 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 20 19 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 21 20 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 22 21 such that each Member receives a share of the total amount paid for distributions of each Allocated 23 22 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Consolidation Plan. The Sector’s ACE shall be harvested in accordance with the terms 7 and conditions of this Section 7. 8 7.1. Harvest Share Reserve. Each Member acknowledges that under NMFS 12 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 13 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 14 necessary to insure the Sector’s ACE is not over‐harvested over-harvested (the “Reserve”). The Reserve for each 15 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 16 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 17 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 18 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 19 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 20 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 21 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 22 such that each Member receives a share of the total amount paid for distributions of each Allocated 23 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Consolidation Plan. The Sector’s ACE shall be harvested in accordance with the terms 7 8 and conditions of this Section 7. 8 7.1. Harvest Share Reserve11 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 acknowledges that under NMFS 12 regulations, each Member may be held jointly liable for fines, penalties 13 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 13 14 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 14 15 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 15 16 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 16 17 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 17 18 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 18 19 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 19 20 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 20 21 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 21 22 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 22 23 such that each Member receives a share of the total amount paid for distributions of each Allocated 23 24 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Consolidation Plan. The Sector’s ACE shall be harvested in accordance with the terms 7 6 and conditions of this Section 7. 8 . 7 7.1. Harvest Share Reserve. Each Member acknowledges that under NMFS 12 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 13 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 14 13 necessary to insure the Sector’s ACE is not over‐harvested over-harvested (the “Reserve”). The Reserve for each 15 14 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 16 15 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 17 16 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 18 17 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 19 18 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 20 19 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 21 20 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 22 21 such that each Member receives a share of the total amount paid for distributions of each Allocated 23 22 Species from the Reserve proportionate to the amount of such Allocated Species each Member