Common use of Distribution of Reserve (Administrative only) Clause in Contracts

Distribution of Reserve (Administrative only). 5.03.1. If the Board, subsequent to the establishment of a reserve pursuant to Section 5.02 hereof, determines that the ACE, as adjusted pursuant to Section 5.02, will be fully harvested by the Participating Vessels, the Board shall release and authorize the harvesting of the reserve by the Members, their Permits and their Participating Vessels. 5.03.2. The Board may direct the Sector Manager to pursue the purchase of additional ACE where appropriate to assist in reserve distribution adjustments. 5.03.3. The Board may direct the Sector Manager to institute more restrictive monitoring and reporting by Members, or otherwise amend the Harvest Plan, in order to ensure that the Sector ACE is not exceeded. Amendments to the Operations Plan will not be valid without approval from the National Marine Fisheries Service. 5.03.4. The Sector Manager shall notify NMFS of any reserve release to Members within 48 hours of such release.

Distribution of Reserve (Administrative only). 5.03.1. If the Board, subsequent to the establishment of a reserve pursuant to Section 5.02 4.02 hereof, determines that the ACE, as adjusted pursuant to Section 5.024.02, will be fully harvested by the Participating Vessels, the Board shall release and authorize the harvesting of the reserve by the Members, their Permits and their Participating Vessels. 5.03.2. The Board may direct the Sector Manager to pursue the purchase of additional ACE where appropriate to assist in reserve distribution adjustments. 5.03.3. The Board may direct the Sector Manager to institute more restrictive monitoring and reporting by Members, or otherwise amend the Harvest Plan, in order to ensure that the Sector ACE is not exceeded. Amendments to the Operations Plan will not be valid without approval from the National Marine Fisheries Service. 5.03.4. The Sector Manager shall notify NMFS of any reserve release to Members within 48 hours of such release.

Distribution of Reserve (Administrative only). 5.03.1. If the Board, subsequent to the establishment of a reserve pursuant to Section 5.02 hereof, determines that the ACE, as adjusted pursuant to Section 5.02, will be fully harvested by the Participating Vessels, the Board shall release and authorize the harvesting of the reserve by the Members, their Permits and their Participating Vessels. 5.03.2. The Board may direct the Sector Manager to pursue the purchase of additional ACE where appropriate to assist in reserve distribution adjustments. 5.03.3. The Board may direct the Sector Manager to institute more restrictive monitoring and reporting by Members, or otherwise amend the Harvest Plan, in order to ensure that the Sector ACE is not exceeded. Amendments to the Operations Plan will not be valid without approval from the National Marine Fisheries Service. 5.03.4. The Sector Manager shall notify NMFS of any reserve release to Members within 48 hours of such release.