Common use of Harvest Share Reserve Clause in Contracts

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. Each Member acknowledges that under NMFS 10 regulations, 2 the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 allocation, as 3 adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 acknowledges 4 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 6 annually establish a reserve of each Allocated Species in the amount the Manager deems 15 necessary to 7 insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 16 Allocated Species 8 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 12 accordance with the terms and conditions adopted by the Board from time to time. If 21 the Board 13 requires that Members pay for distributions from the Reserve, the DVS payments received by 22 the Sector Xxxxxx 00 shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 23 such that 15 each Member receives a share of the total amount paid for distributions of each Allocated 24 Species from 16 the Reserve proportionate to the amount of such Allocated Species each MemberMember contributed to the

Harvest Share Reserve. Each Member acknowledges that under NMFS 10 2 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 3 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 4 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 13 5 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 14 6 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 15 7 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 16 8 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 12 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 21 13 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 22 14 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 23 15 such that each Member receives a share of the total amount paid for distributions of each Allocated 24 16 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Harvest Share Reserve. Each Member acknowledges that under NMFS 10 5 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 6 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 7 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 13 8 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 14 9 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 15 10 necessary to insure the Sector’s ACE is not over‐harvested over-harvested (the “Reserve”). The Reserve for each 16 11 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 17 12 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 18 13 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 19 14 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 20 15 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 21 16 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 22 17 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 23 18 such that each Member receives a share of the total amount paid for distributions of each Allocated 24 19 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Harvest Share Reserve. Each Member acknowledges that under NMFS 10 5 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 6 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 7 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 13 8 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 14 9 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 15 10 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 16 11 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 17 12 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 18 13 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 19 14 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 20 15 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 21 16 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 22 17 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 23 18 such that each Member receives a share of the total amount paid for distributions of each Allocated 24 19 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Harvest Share Reserve. Each Member acknowledges that under NMFS 10 2 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 3 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 4 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 13 5 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 14 6 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 15 7 necessary to insure the Sector’s ACE is not over‐harvested over-harvested (the “Reserve”). The Reserve for each 16 8 Allocated Species shall be established by assessing the Members’ Harvest Shares for such Allocated 17 9 Species on a pro rata basis, according to their Harvest Share percentages for each such species. The 18 10 amount of each Member’s Harvest Share available for harvest or transfer shall be net of the amount 19 11 assessed for the Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 20 12 the Manager in accordance with the terms and conditions adopted by the Board from time to time. If 21 13 the Board requires that Members pay for distributions from the Reserve, the DVS payments received by 22 14 the Sector shall be distributed to the Members after the close of fishing for the year on a pro rata basis, 23 15 such that each Member receives a share of the total amount paid for distributions of each Allocated 24 16 Species from the Reserve proportionate to the amount of such Allocated Species each Member

Harvest Share Reserve. Each Member acknowledges that under NMFS 10 4 regulations, the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE 11 5 allocation, as adjusted by transfers of ACE between the Sector and other sectors. Each Member further 12 6 acknowledges that under NMFS regulations, each Member may be held jointly liable for fines, penalties 13 7 and forfeitures related to the Sector’s ACE being overharvested. Each Member therefore authorizes the 14 8 Manager to annually establish a reserve of each Allocated Species in the amount the Manager deems 15 9 necessary to insure the Sector’s ACE is not over‐harvested (the “Reserve”). The Reserve for each 16 Allocated 10 Species shall be established by assessing the Members’ Harvest Shares for such Allocated 17 Species on a pro 11 rata basis, according to their Harvest Share percentages for each such species. The 18 amount of each 12 Member’s Harvest Share available for harvest or transfer shall be net of the amount 19 assessed for the 13 Reserve. The Reserve shall be managed under a “Deemed Value System” (“DVS”) by 20 the Manager in 14 accordance with the terms and conditions adopted by the Board from time to time. If 21 the Board requires 15 that Members pay for distributions from the Reserve, the DVS payments received by 22 the Sector shall be 16 distributed to the Members after the close of fishing for the year on a pro rata basis, 23 such that each 17 Member receives a share of the total amount paid for distributions of each Allocated 24 Species from the 18 Reserve proportionate to the amount of such Allocated Species each MemberMember 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 ensure the Sector’s ACE is not over‐harvested 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