Common use of Reserve (Administrative only) Clause in Contracts

Reserve (Administrative only). 5.02.1. Each Member agrees that the Board may, in its sole discretion, establish a reserve for one or more species under the Sector ACE in order to ensure that the Sector remains in compliance with its ACE limit for that species; provided, however, that such reserve shall not exceed ten percent of the ACE for that species. 5.02.2. The amount of the reserve shall be deducted from the ACE before such ACE is allocated among the Members, their Permits and their Participating Vessels through the Harvest Plan. 5.02.3. When the Sector as a whole approaches or reaches 80% of any of the Sector’s ACEs, or when, for two consecutive weekly reporting periods 20% or more of the remaining portion of any ACE is harvested, whichever comes first, the Sector Manager shall notify all Members and NMFS of the harvest status. The Sector Manager shall require all Members who are actively fishing to report on catch daily in order to ensure that the Sector ACE is not exceeded and shall report daily to NMFS on the harvest status.

Reserve (Administrative only). 5.02.1. Each Member agrees that the Board may, in its sole discretion, establish a reserve for one or more species under the Sector ACE in order to ensure that the Sector remains in compliance with its ACE limit for that species; provided, however, that such reserve shall not exceed ten percent of the ACE for that species. 5.02.2. The amount of the reserve shall be deducted from the ACE before such ACE is allocated among the Members, their Permits and their Participating Vessels through the Harvest Plan. . 5.02.3. When the Sector as a whole approaches or reaches 80% of any of the Sector’s ACEs, or when, for two consecutive weekly reporting periods 20% or more of the remaining portion of any ACE is harvested, whichever comes first, the Sector Manager shall notify all Members and NMFS of the harvest status. The Sector Manager shall require all Members who are actively fishing to report on catch daily in order to ensure that the Sector ACE is not exceeded and shall report daily to NMFS on the harvest status.