Common use of Permit Transfer/Sale Clause in Contracts

Permit Transfer/Sale. A Member may transfer a Permit to a party other than a 11 Member, subject to a Right of First Refusal (the “ROFR”), which may be adopted or amended from time 12 to time by the Board, in favor of Active Members of the Sector, Active Members of other Northeast 13 Fishery Sectors, and certain other parties. No Member may transfer such Member’s “LA MS” permit or 14 “MRI” permit to a person who is not an Active Member unless such person assumes all of the 15 transferring Member’s obligations under this Agreement as of the effective date of such transfer. A 16 person other than a Member who receives a Member’s “LA MS” permit or “MRI” permit from a Member 17 in accordance with this Section 15 (a “Transferee”) shall only be eligible to participate in the Sector for 18 the balance of the fishing year during which the transfer occurs, and thereafter may only remain a

Permit Transfer/Sale. A Member may transfer a Permit to a party other than a 11 13 Member, subject to a Right of First Refusal (the “ROFR”), which may be adopted or amended from time 12 14 to time by the Board, in favor of Active Members of the Sector, Active Members of other Northeast 13 15 Fishery Sectors, and certain other parties. No Member may transfer such Member’s “LA MS” permit or 14 16 “MRI” permit to a person who is not an Active Member unless such person assumes all of the 15 17 transferring Member’s obligations under this Agreement as of the effective date of such transfer. A 16 18 person other than a Member who receives a Member’s “LA MS” permit or “MRI” permit from a Member 17 in accordance with this Section 15 (a “Transferee”) shall only be eligible to participate in the Sector for 18 the balance of the fishing year during which the transfer occurs, and thereafter may only remain aMember

Permit Transfer/Sale. A Member may transfer a Permit to a party other than a 11 18 Member, subject to a Right of First Refusal (the “ROFR”), which may be adopted or amended 19 from time 12 to time by the Board, in favor of Active Members of the Sector, Active Members of 20 other Northeast 13 Fishery Sectors, and certain other parties. No Member may transfer such 21 Member’s “LA MS” permit or 14 “MRI” permit to a person who is not an Active Member unless 22 such person assumes all of the 15 transferring Member’s obligations under this Agreement as of 23 the effective date of such transfer. A 16 person other than a Member who receives a Member’s 24 “LA MS” permit or “MRI” permit from a Member 17 in accordance with this Section 15 (a 25 “Transferee”) shall only be eligible to participate in the Sector for 18 the balance of the fishing year 26 during which the transfer occurs, and thereafter may only remain aa Sector Member if such 27 Transferee applies for and is admitted to Sector membership in accordance with Section 2,

Permit Transfer/Sale. A Member may transfer a Permit to a party other than a 11 20 Member, subject to a Right of First Refusal (the “ROFR”), which may be adopted or amended 21 from time 12 to time by the Board, in favor of Active Members of the Sector, Active Members of 22 other Northeast 13 Fishery Sectors, and certain other parties. No Member may transfer such 23 Member’s “LA MS” permit or 14 “MRI” permit to a person who is not an Active Member unless 24 such person assumes all of the 15 transferring Member’s obligations under this Agreement as of 25 the effective date of such transfer. A 16 person other than a Member who receives a Member’s 26 “LA MS” permit or “MRI” permit from a Member 17 in accordance with this Section 15 (a 27 “Transferee”) shall only be eligible to participate in the Sector for 18 the balance of the fishing year 28 during which the transfer occurs, and thereafter may only remain aa Sector Member if such 1 Transferee applies for and is admitted to Sector membership in accordance with Section 2,

Permit Transfer/Sale. A Member may transfer a Permit to a party other than a 11 Member, 21 subject to a Right of First Refusal (the “ROFR”), which may be adopted or amended from time 12 to time by 22 the Board, in favor of Active Members of the Sector, Active Members of other Northeast 13 Fishery 23 Sectors, and certain other parties. No Member may transfer such Member’s “LA MS” permit or 14 “MRI” 24 permit to a person who is not an Active Member unless such person assumes all of the 15 transferring 25 Member’s obligations under this Agreement as of the effective date of such transfer. A 16 person other 26 than a Member who receives a Member’s “LA MS” permit or “MRI” permit from a Member 17 in 27 accordance with this Section 15 (a “Transferee”) shall only be eligible to participate in the Sector for 18 the balance of the fishing year during which the transfer occurs, and thereafter may only remain athe

Permit Transfer/Sale. A Member may transfer a Permit to a party other than a 11 Member, 25 subject to a Right of First Refusal (the “ROFR”), which may be adopted or amended from time 12 to time by 26 the Board, in favor of Active Members of the Sector, Active Members of other Northeast 13 Fishery 27 Sectors, and certain other parties. No Member may transfer such Member’s “LA MS” permit or 14 “MRI” 28 permit to a person who is not an Active Member unless such person assumes all of the 15 transferring 29 Member’s obligations under this Agreement as of the effective date of such transfer. A 16 person other 30 than a Member who receives a Member’s “LA MS” permit or “MRI” permit from a Member 17 in 1 accordance with this Section 15 (a “Transferee”) shall only be eligible to participate in the Sector for 18 the balance of the fishing year during which the transfer occurs, and thereafter may only remain athe