Harvest Share Reserve. Each Member acknowledges that under NMFS regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems necessary to insure the Sector’s ACE is not over‐ harvested (the “Reserve”). The Reserve for each Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro rata basis, according to their Harvest Share percentages for each such species. The amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by the Manager in accordance with the terms and conditions adopted by the Board from time to time. If the Board requires that Members pay for distributions from the Reserve, the DVS payments received by the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, such that each Member receives a share of the total amount paid for distributions of each Allocated Species from the Reserve proportionate to the amount of such Allocated Species each Member contributed to the Reserve.
Harvest Share Reserve. Each Member acknowledges that under NMFS 10 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 acknowledges that under NMFS 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 14 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 15 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 16 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 17 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 18 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 19 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 20 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 21 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 22 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 23 such that each Member receives a share of the total amount paid for distributions of each Allocated 24 Species from the Reserve proportionate to the amount of such Allocated Species each Member
Harvest Share Reserve. No Reserve is required for FY 2015. Sector Members 7 will not harvest sector ACE. The sector manager will utilize Inter and Intra sector transfers to move ace 8 between members and to fully utilize the ACE allocated to the Sector.
Harvest Share Reserve. Each Member acknowledges that under NMFS 5 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 6 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 7 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 8 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 9 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 10 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each Allocated 11 Species shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro 12 rata basis, according to their Harvest Share percentages for each such species. The amount of each 13 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the
Harvest Share Reserve. Each Member acknowledges that under NMFS regulations, 29 the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE allocation, as 1 adjusted by transfers of ACE between the Sector and other sectors. Each Member further acknowledges 2 that under NMFS regulations, each Member may be held jointly liable for fines, penalties and forfeitures 4 annually establish a reserve of each Allocated Species in the amount the Manager deems necessary to 5 insure the Sector’s ACE is not over-harvested (the “Reserve”). The Reserve for each Allocated Species 6 shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro rata 7 basis, according to their Harvest Share percentages for each such species. The amount of each 8 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the
Harvest Share Reserve. Each Member acknowledges that under NMFS 12 necessary to ensure the Sector’s ACE is not over-harvested (the “Reserve”). The Reserve for each 13 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 14 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 15 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 16 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 17 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 18 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 19 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 20 such that each Member receives a share of the total amount paid for distributions of each Allocated 21 Species from the Reserve proportionate to the amount of such Allocated Species each Member
Harvest Share Reserve. Harvest Share Use.
Harvest Share Reserve. Each Member acknowledges that under NMFS 7 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 8 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 9 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 10 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 11 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 13 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 14 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 15 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 17 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 18 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 19 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 20 such that each Member receives a share of the total amount paid for distributions of each Allocated 21 Species from the Reserve proportionate to the amount of such Allocated Species each Member
Harvest Share Reserve. Each Member acknowledges that under NMFS 6 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 7 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 8 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 12 Species shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro 13 rata basis, according to their Harvest Share percentages for each such species. The amount of each 14 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the
Harvest Share Reserve. No Reserve is required for FY 2019. Sector Members 8 between members and to fully utilize the ACE allocated to the Sector.
