Distribution of ACE Sample Clauses
The 'Distribution of ACE' clause defines how Available Cash Equivalents (ACE) are allocated or distributed among parties involved in an agreement. Typically, this clause outlines the timing, method, and proportions in which ACE—such as cash, short-term investments, or other liquid assets—are to be distributed, often after certain conditions are met or at specified intervals. For example, it may specify that ACE is distributed quarterly among shareholders based on their ownership percentages. The core function of this clause is to ensure transparency and fairness in the allocation of liquid assets, thereby preventing disputes and clarifying each party’s entitlements.
Distribution of ACE. Each member acknowledges that the sector’s ACE is composed of 16 allocations for each northeast multispecies groundfish allocated by Amendment 16 and any 17 subsequent Framework or Amendment. All members will receive a harvest share of sector ACE 18 for all allocated stocks. This harvest share will be comprised of 100 % of their individual ACE 19 based on the PSC associated with all MRIs owned minus any Board adopted and/or voluntary 20 reserve. In addition, any individual overages from the previous fishing year will be deducted 21 from the member’s harvest share.