Common use of Liquidated Damages Base Value and Multiplier Adoption Clause in Contracts

Liquidated Damages Base Value and Multiplier Adoption. Not less than 2 sixty (60) days prior to each annual Season Opening Date, the Manager shall establish the market value 3 of an unprocessed pound of each Allocated Species (each such value being a “Base Value”), and transmit 4 such Base Values to the Enforcement Committee. In establishing such Base Values, the Manager may 5 take into account both the direct costs and the opportunity costs associated with an over‐harvest of the 6 relevant species. Not less than thirty (30) days prior to each annual Season Opening Date, the 7 Enforcement Committee, in consultation with the Manager, shall adopt Base Values and Base Value 8 multipliers, and the liquidated damages amounts for breaches of this Agreement other than over‐ 9 harvest of a Member’s Harvest Share, which shall be based on the Enforcement Committee’s estimate 10 of the losses that the Sector and its Members could be expected to suffer as a result of such breaches. 11 Because the damages suffered by one or more other Sector Members as the result of a Member 12 harvesting an amount of Sector ACE in excess of its Harvest Share are likely to substantially exceed the 13 market value of the excess harvest, the Base Value multipliers shall not be less than three (3). Upon the 14 Enforcement Committee’s adoption of Base Values and Base Value multipliers, such Base Values and 15 Base Value multipliers will be the basis for calculation of damages for unreconciled Harvest Share 16 overages.

Liquidated Damages Base Value and Multiplier Adoption. Not less than 2 sixty 17 (60) days prior to each annual Season Opening Date, the Manager shall establish the market value 3 of an 18 unprocessed pound of each Allocated Species (each such value being a “Base Value”), and transmit 4 such 19 Base Values to the Enforcement Committee. In establishing such Base Values, the Manager may 5 take into 20 account both the direct costs and the opportunity costs associated with an over‐harvest of the 6 relevant 21 species. Not less than thirty (30) days prior to each annual Season Opening Date, the 7 Enforcement 22 Committee, in consultation with the Manager, shall adopt Base Values and Base Value 8 multipliers, and 23 the liquidated damages amounts for breaches of this Agreement other than over‐ 9 harvest over‐harvest of a Member’s 24 Harvest Share, which shall be based on the Enforcement Committee’s estimate 10 of the losses that the 25 Sector and its Members could be expected to suffer as a result of such breaches. 11 Because the damages 26 suffered by one or more other Sector Members as the result of a Member 12 harvesting an amount of Sector Xxxxxx 00 ACE in excess of its Harvest Share are likely to substantially exceed the 13 market value of the excess harvest, 28 the Base Value multipliers shall not be less than three (3). Upon the 14 Enforcement Committee’s adoption 29 of Base Values and Base Value multipliers, such Base Values and 15 Base Value multipliers will be the basis 30 for calculation of damages for unreconciled Harvest Share 16 overages.

Liquidated Damages Base Value and Multiplier Adoption. Not less than 2 sixty (60) days prior to each annual Season Opening Date, the Manager shall establish the market value 3 of an unprocessed pound of each Allocated Species (each such value being a “Base Value”), and 4 transmit 4 such Base Values to the Enforcement Committee. In establishing such Base Values, the 5 Manager may 5 take into account both the direct costs and the opportunity costs associated with an over‐harvest 6 over-harvest of the 6 relevant species. Not less than thirty (30) days prior to each annual Season 7 Opening Date, the 7 Enforcement Committee, in consultation with the Manager, shall adopt Base Values 8 and Base Value 8 multipliers, and the liquidated damages amounts for breaches of this Agreement other 9 than over‐ 9 over-harvest of a Member’s Harvest Share, which shall be based on the Enforcement 10 Committee’s estimate 10 of the losses that the Sector and its Members could be expected to suffer as a 11 result of such breaches. 11 Because the damages suffered by one or more other Sector Members as the 12 result of a Member 12 harvesting an amount of Sector ACE in excess of its Harvest Share are likely to 13 substantially exceed the 13 market value of the excess harvest, the Base Value multipliers shall not be less 14 than three (3). Upon the 14 Enforcement Committee’s adoption of Base Values and Base Value 15 multipliers, such Base Values and 15 Base Value multipliers will be the basis for calculation of damages for 16 unreconciled Harvest Share 16 overages.

Liquidated Damages Base Value and Multiplier Adoption. Not less than 2 sixty 18 (60) days prior to each annual Season Opening Date, the Manager shall establish the market value 3 of an 19 unprocessed pound of each Allocated Species (each such value being a “Base Value”), and transmit 4 such 20 Base Values to the Enforcement Committee. In establishing such Base Values, the Manager may 5 take into 21 account both the direct costs and the opportunity costs associated with an over‐harvest of the 6 relevant 22 species. Not less than thirty (30) days prior to each annual Season Opening Date, the 7 Enforcement 23 Committee, in consultation with the Manager, shall adopt Base Values and Base Value 8 multipliers, and 24 the liquidated damages amounts for breaches of this Agreement other than over‐ 9 harvest over‐harvest of a Member’s 25 Harvest Share, which shall be based on the Enforcement Committee’s estimate 10 of the losses that the 26 Sector and its Members could be expected to suffer as a result of such breaches. 11 Because the damages 27 suffered by one or more other Sector Members as the result of a Member 12 harvesting an amount of Sector Xxxxxx 00 ACE in excess of its Harvest Share are likely to substantially exceed the 13 market value of the excess harvest, 29 the Base Value multipliers shall not be less than three (3). Upon the 14 Enforcement Committee’s adoption 30 of Base Values and Base Value multipliers, such Base Values and 15 Base Value multipliers will be the basis 31 for calculation of damages for unreconciled Harvest Share 16 overages.

Liquidated Damages Base Value and Multiplier Adoption. Not less than 2 sixty 12 (60) days prior to each annual Season Opening Date, the Manager shall establish the market value 3 of an 13 unprocessed pound of each Allocated Species (each such value being a “Base Value”), and transmit 4 such 14 Base Values to the Enforcement Committee. In establishing such Base Values, the Manager may 5 take into 15 account both the direct costs and the opportunity costs associated with an over‐harvest of the 6 relevant 16 species. Not less than thirty (30) days prior to each annual Season Opening Date, the 7 Enforcement 17 Committee, in consultation with the Manager, shall adopt Base Values and Base Value 8 multipliers, and 18 the liquidated damages amounts for breaches of this Agreement other than over‐ 9 harvest over‐harvest of a Member’s 19 Harvest Share, which shall be based on the Enforcement Committee’s estimate 10 of the losses that the 20 Sector and its Members could be expected to suffer as a result of such breaches. 11 Because the damages 21 suffered by one or more other Sector Members as the result of a Member 12 harvesting an amount of Sector Xxxxxx 00 ACE in excess of its Harvest Share are likely to substantially exceed the 13 market value of the excess harvest, 23 the Base Value multipliers shall not be less than three (3). Upon the 14 Enforcement Committee’s adoption 24 of Base Values and Base Value multipliers, such Base Values and 15 Base Value multipliers will be the basis 25 for calculation of damages for unreconciled Harvest Share 16 overages.

Liquidated Damages Base Value and Multiplier Adoption. Not less than 2 sixty 16 (60) days prior to each annual Season Opening Date, the Manager shall establish the market value 3 of an 17 unprocessed pound of each Allocated Species (each such value being a “Base Value”), and transmit 4 such 18 Base Values to the Enforcement Committee. In establishing such Base Values, the Manager may 5 take into 19 account both the direct costs and the opportunity costs associated with an over‐harvest of the 6 relevant 20 species. Not less than thirty (30) days prior to each annual Season Opening Date, the 7 Enforcement 21 Committee, in consultation with the Manager, shall adopt Base Values and Base Value 8 multipliers, and 22 the liquidated damages amounts for breaches of this Agreement other than over‐ 9 harvest over‐harvest of a Member’s 23 Harvest Share, which shall be based on the Enforcement Committee’s estimate 10 of the losses that the 24 Sector and its Members could be expected to suffer as a result of such breaches. 11 Because the damages 25 suffered by one or more other Sector Members as the result of a Member 12 harvesting an amount of Sector Xxxxxx 00 ACE in excess of its Harvest Share are likely to substantially exceed the 13 market value of the excess harvest, 27 the Base Value multipliers shall not be less than three (3). Upon the 14 Enforcement Committee’s adoption 28 of Base Values and Base Value multipliers, such Base Values and 15 Base Value multipliers will be the basis 29 for calculation of damages for unreconciled Harvest Share 16 overages.