Common use of Harvest Share Reserve Clause in Contracts

Harvest Share Reserve. Each Member acknowledges that under NMFS regulations, 29 the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE allocation, as 1 adjusted by transfers of ACE between the Sector and other sectors. Each Member further acknowledges 2 that under NMFS regulations, each Member may be held jointly liable for fines, penalties and forfeitures 4 annually establish a reserve of each Allocated Species in the amount the Manager deems necessary to 5 insure the Sector’s ACE is not over-harvested (the “Reserve”). The Reserve for each Allocated Species 6 shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro rata 7 basis, according to their Harvest Share percentages for each such species. The amount of each 8 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the

Harvest Share Reserve. Each Member acknowledges that under NMFS regulations, 29 28 the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE allocation, as 1 29 adjusted by transfers of ACE between the Sector and other sectors. Each Member further acknowledges 2 1 that under NMFS regulations, each Member may be held jointly liable for fines, penalties and forfeitures 4 3 annually establish a reserve of each Allocated Species in the amount the Manager deems necessary to 5 4 insure the Sector’s ACE is not over-harvested (the “Reserve”). The Reserve for each Allocated Species 6 5 shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro rata 7 6 basis, according to their Harvest Share percentages for each such species. The amount of each 8 7 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the

Harvest Share Reserve. Each Member acknowledges that under NMFS regulations, 29 2 the Members’ aggregate harvest of the Sector’s ACE may not exceed the Sector’s ACE allocation, as 1 3 adjusted by transfers of ACE between the Sector and other sectors. Each Member further acknowledges 2 4 that under NMFS regulations, each Member may be held jointly liable for fines, penalties and forfeitures 4 6 annually establish a reserve of each Allocated Species in the amount the Manager deems necessary to 5 7 insure the Sector’s ACE is not over-harvested (the “Reserve”). The Reserve for each Allocated Species 6 8 shall be established by assessing the Members’ Harvest Shares for such Allocated Species on a pro rata 7 9 basis, according to their Harvest Share percentages for each such species. The amount of each 8 10 Member’s Harvest Share available for harvest or transfer shall be net of the amount assessed for the