Common use of Permit Transfers Clause in Contracts

Permit Transfers. 20 Each Member agrees that so long as it is a party to this Agreement, such Member (i) shall not 21 have the authority to sell, lease or transfer the ownership of its Permit to a party that is not or 22 does not agree in writing to be bound by this Agreement for the remainder of the fishing year in 23 which such sale, lease or transfer is to occur, (ii) shall not transfer, lease or assign any DAS 24 allocated to its Permit by NMFS to any permit not enrolled in an approved sector, and (iii) shall 25 comply with the right of first refusal provisions of Section 2.06 hereof prior to the consummation 26 of any proposed sale, lease or transfer permitted hereunder. To the extent that a Member sells, 27 leases or transfers its Permit to another individual or entity (a “Transferee”) in compliance with 28 the foregoing sentence, then (a) such Transferee shall only be permitted to participate in the 29 Sector for the remainder of the fishing year in which the transfer occurred (the “Transfer Year”) 30 and (b) prior to the commencement of the fishing year immediately following the Transfer Year, 31 the Transferee must apply for admission to the Sector pursuant to the provisions of Section 2.04 32 hereof in order to be admitted to the Sector as a Member. For the avoidance of all doubt, for 33 the purposes of calculating a Member’s Commitment Period under Section 2.03 hereof, no 34 portion of a Transfer Year shall be included in such calculation.

Permit Transfers. 20 Each Member agrees that so long as it is a party to this Agreement, such Member (i) shall not 21 have the authority to sell, lease or transfer the ownership of its Permit to a party that is not or 22 does not agree in writing to be bound by this Agreement for the remainder of the fishing year in 23 which such sale, lease or transfer is to occur, (ii) shall not transfer, lease or assign any DAS 24 allocated to its Permit by NMFS to any permit not enrolled in an approved sector, and (iii) shall 25 comply with the right of first refusal provisions of Section 2.06 hereof prior to the consummation 26 of any proposed sale, lease or transfer permitted hereunder. To the extent that a Member sells, 27 leases or transfers its Permit to another individual or entity (a “Transferee”) in compliance with 28 the foregoing sentence, then (a) such Transferee shall only be permitted to participate in the 29 Sector for the remainder of the fishing year in which the transfer occurred (the “Transfer Year”) 30 and (b) prior to the commencement of the fishing year immediately following the Transfer Year, 31 the Transferee must apply for admission to the Sector pursuant to the provisions of Section 2.04 32 hereof in order to be admitted to the Sector as a Member. For the avoidance of all doubt, for 33 the purposes of calculating a Member’s Commitment Period under Section 2.03 hereof, no 34 portion of a Transfer Year shall be included in such calculation.

Permit Transfers. 20 Each Member agrees that so long as it is a party to this 44 Agreement, such Member (i) shall not 21 have the authority to sell, lease or transfer the 45 ownership of its Permit to a party that is not or 22 does not agree in writing to be bound by 46 this Agreement for the remainder of the fishing year in 23 which such sale, lease or transfer 1 is to occur, (ii) shall not transfer, lease or assign any DAS 24 days-at-sea allocated to its Permit by 2 NMFS to any permit not enrolled in an approved a sector, and (iii) shall 25 comply with the right of first 3 refusal provisions of Section 2.06 2.08 hereof prior to the consummation 26 of any proposed sale, 4 lease or transfer permitted hereunder. To the extent that a Member sells, 27 leases or 5 transfers its Permit to another individual or entity (a “Transferee”) in compliance with 28 the foregoing sentence6 foregoing, then (a) such Transferee shall only be permitted to participate in the 29 Sector for 7 the remainder of the fishing year in which the transfer occurred (the “Transfer Year”) 30 and 8 (b) prior to the commencement of the fishing year immediately following the Transfer 9 Year, 31 the Transferee must apply for admission to the Sector pursuant to the provisions of 10 Section 2.04 32 hereof in order to be admitted to the Sector as a Member. For the avoidance 11 of all doubt, for 33 the purposes of calculating a Member’s Commitment Period under 12 Section 2.03 hereof, no 34 portion of a Transfer Year shall be included in such calculation.

Permit Transfers. 20 Each Member agrees that so long as it is a party to this 43 Agreement, such Member (i) shall not 21 have the authority to sell, lease or transfer the 44 ownership of its Permit to a party that is not or 22 does not agree in writing to be bound by 45 this Agreement for the remainder of the fishing year in 23 which such sale, lease or transfer 46 is to occur, (ii) shall not transfer, lease or assign any DAS 24 days-at-sea allocated to its Permit by 1 NMFS to any permit not enrolled in an approved a sector, and (iii) shall 25 comply with the right of first 2 refusal provisions of Section 2.06 2.08 hereof prior to the consummation 26 of any proposed sale, 3 lease or transfer permitted hereunder. To the extent that a Member sells, 27 leases or 4 transfers its Permit to another individual or entity (a “Transferee”) in compliance with 28 the foregoing sentence5 foregoing, then (a) such Transferee shall only be permitted to participate in the 29 Sector for 6 the remainder of the fishing year in which the transfer occurred (the “Transfer Year”) 30 and 7 (b) prior to the commencement of the fishing year immediately following the Transfer 8 Year, 31 the Transferee must apply for admission to the Sector pursuant to the provisions of 9 Section 2.04 32 hereof in order to be admitted to the Sector as a Member. For the avoidance 10 of all doubt, for 33 the purposes of calculating a Member’s Commitment Period under 11 Section 2.03 hereof, no 34 portion of a Transfer Year shall be included in such calculation.

Permit Transfers. 20 Each Member agrees that so long as it is a party to this Agreement, such Member (i) shall not 21 have the authority to sell, lease or transfer the ownership of its Permit to a party that is not or 22 does not agree in writing to be bound by this Agreement for the remainder of the fishing year in 23 which such sale, lease or transfer is to occur, (ii) shall not transfer, lease or assign any DAS 24 allocated to its Permit by NMFS to any permit not enrolled in an approved sectornon-Sector permit, and (iii) shall 25 comply with the right of first refusal provisions of Section 2.06 2.08 hereof prior to the consummation 26 of any proposed sale, lease or transfer permitted hereunder. To the extent that a Member sells, 27 leases or transfers its Permit to another individual or entity (a “Transferee”) in compliance with 28 the foregoing sentence, then (a) such Transferee shall only be permitted to participate in the 29 Sector for the remainder of the fishing year in which the transfer occurred (the “Transfer Year”) 30 and (b) prior to the commencement of the fishing year immediately following the Transfer Year, 31 the Transferee must apply for admission to the Sector pursuant to the provisions of Section 2.04 32 hereof in order to be admitted to the Sector as a Member. For the avoidance of all doubt, for 33 the purposes of calculating a Member’s Commitment Period under Section 2.03 hereof, no 34 portion of a Transfer Year shall be included in such calculation.

Permit Transfers. 20 22 Each Member agrees that so long as it is a party to this Agreement, such Member (i) shall not 21 23 have the authority to sell, lease or transfer the ownership of its Permit to a party that is not or 22 24 does not agree in writing to be bound by this Agreement for the remainder of the fishing year in 23 25 which such sale, lease or transfer is to occur, (ii) shall not transfer, lease or assign any DAS 24 allocated to its Permit by NMFS to any permit not enrolled in an approved sector, and (iii) shall 25 27 comply with the right of first refusal provisions of Section 2.06 hereof prior to the consummation 26 28 of any proposed sale, lease or transfer permitted hereunder. To the extent that a Member sells, 27 29 leases or transfers its Permit to another individual or entity (a “Transferee”) in compliance with 28 30 the foregoing sentence, then (a) such Transferee shall only be permitted to participate in the 29 31 Sector for the remainder of the fishing year in which the transfer occurred (the “Transfer Year”) 30 32 and (b) prior to the commencement of the fishing year immediately following the Transfer Year, 31 33 the Transferee must apply for admission to the Sector pursuant to the provisions of Section 2.04 32 34 hereof in order to be admitted to the Sector as a Member. For the avoidance of all doubt, for 33 35 the purposes of calculating a Member’s Commitment Period under Section 2.03 hereof, no 34 36 portion of a Transfer Year shall be included in such calculation.