ACE Overage Sample Clauses

ACE Overage. 00 Xxx Xxxxxx is responsible for preventing ACE overages during the fishing year. The Sector must
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ACE Overage. The Sector is responsible for preventing ACE overages during the fishing year. The Sector must cease all fishing operations in the appropriate stock area when the Sector achieves or exceeds any ACE. The Sector may acquire additional ACE to resume fishing in that stock area and to avoid an ACE deduction for the following fishing year. NMFS may find Members and the Sector jointly and severally liable for any ACE overage and may assess penalties accordingly. If ACE is exceeded, the overage shall be deducted from the following year’s ACE. The Member is responsible for preventing individual ACE overages during the fishing year. The Member must cease all fishing operations in the appropriate stock area when the Member achieves or exceeds any ACE. The Member may acquire additional ACE to resume fishing in that stock area and to avoid an ACE deduction for the following fishing year. If any Member exceeds it allocation of ACE, it will be subject to penalties in accordance with Exhibit A and may have it future allocation reduced by an amount equal to the overage. If a Member that causes the Sector to exceed any ACE leaves the Sector the following year, any reduction in the Sector’s ACE or reduction in DAS will follow that Member’s permits that left the Sector in the form of DAS reductions if the Member joins the Common Pool, or pound-for-pound ACE reduction in a new sector. Additional penalties may also be invoked by the Board in accordance with Exhibit A. NMFS will withhold 20 percent of each ACE at the beginning of the fishing year for a period of 61 days to allow time to process any year-end transfers of ACE and to determine whether any reductions in ACE are necessary due to overage in the previous year.

Related to ACE Overage

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