Common use of ACE Overages Clause in Contracts

ACE Overages. Any Sector ACE overage that is not accounted for 23 through a subsequent ACE transfer will be considered a violation of the Plan and 24 regulations. NMFS may hold Members and the Sector jointly and severally liable for 25 such overage as indicated in Article VII below. If the Sector or a Member exceeds its or 26 their allocation, the overage will be deducted the following year on a pound for pound 27 basis, after accounting for any transfers. A permanent reduction in Sector ACE will 28 follow any vessels that leave the Sector. 30 The Harvest Rules, Exhibit C, show how the Sector plans to avoid exceeding its ACE, 31 along with actions to be taken should the ACE be exceeded. Overage penalties are 32 identified in the schedule of penalties (Exhibit A). NMFS will withhold 20 percent of the 33 Sector ACE at the beginning of the fishing year for a period of 61 days to allow time to 34 process any end-of-year transfers of ACE and to determine whether any reductions in 35 ACE are necessary due to overage in the previous year. 37 If an overage occurs and a vessel(s) leaves the Sector but the remaining vessels have 38 enough ACE to cover the overage deduction, the impacts on departing Members will be 39 determined by the Infractions Committee and Board. 41 If an overage occurs and the Sector disbands completely each permit will receive a 42 percentage reduction in DAS equal to the maximum percentage overage of the ▇▇▇▇▇▇

ACE Overages. Any Sector ACE overage that is not accounted 15 for 23 through a subsequent ACE transfer will be considered a violation of the Plan 16 and 24 regulations. NMFS GARFO may hold Members and the Sector jointly and severally 17 liable for 25 such overage as indicated in Article VII below. If the Sector or a 18 Member exceeds its or 26 their allocation, the overage will be deducted the 19 following year on a pound for pound 27 basis, after accounting for any transfers. A 20 permanent reduction in Sector ACE will 28 follow any vessels that leave the Sector. 30 22 The Harvest Rules, Exhibit C, show how the Sector plans to avoid exceeding its 23 ACE, 31 along with actions to be taken should the ACE be exceeded. Overage 24 penalties are 32 identified in the schedule of penalties (Exhibit A). NMFS GARFO will 25 withhold 20 percent of the 33 Sector ACE at the beginning of the fishing year for a 26 period of 61 days to allow time to 34 process any end-of-year transfers of ACE and 27 to determine whether any reductions in 35 ACE are necessary due to overage in the 28 previous year. 37 30 If an overage occurs and a vessel(s) leaves the Sector but the remaining vessels 31 have 38 enough ACE to cover the overage deduction, the impacts on departing 32 Members will be 39 determined by the Infractions Committee and Board. 41 34 If an overage occurs and the Sector disbands completely each permit will receive 35 a 42 percentage reduction in DAS equal to the maximum percentage overage of the ▇▇▇▇▇▇the