Common use of Harvest Share Reserve Clause in Contracts

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

Harvest Share Reserve. Each Member acknowledges that under NMFS 12 necessary to ensure insure 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