Harvest Share Transfer. Subject to the terms and conditions of this 5 Agreement, each Member may transfer some or all of such Member’s Harvest Share to one or more 6 Active Member(s) on such terms and conditions as the transferor Member and the transferee Active 7 Member(s) may agree. No transfer of a Member’s Harvest Share shall become effective until the 8 Manager has received actual notice of such transfer. No Member may transfer any portion of such 9 Member’s Harvest Share, or interest in the Sector’s ACE, to any person other than an Active Member 10 unless the Board first authorizes such transfer in writing. Any such transfer shall be subject to such 11 terms and conditions as the Board may adopt from time to time, including but not limited to 12 establishment of procedures to implement a Right of First Offer (the “ROFO”) that is extended to Active
Harvest Share Transfer. 1 7.4 Harvesting Rules and Fishing Plan. Section 7.4 is administrative except to the extent that it 2 applies to Harvesting Rules Sections 1, 5, 6, 8, 11, 16, and 17, which are enforceable and 3 therefore not considered administrative under this section. This section is also administrative 4 except to the extent that it applies to Harvesting Rules Xxxxxxx 0 Xxxxx Xxxx Declaration. Sub‐ 5 Section 7.1 is administrative in nature.
Harvest Share Transfer. Subject to the terms and conditions of this Agreement, each Member may transfer some or all of such Member’s Harvest Share to one or more other Members on such terms and conditions as the transferor Member and the transferee Member(s) may agree. No transfer of a Member’s Harvest Share shall become effective until the Manager has received actual notice of such transfer. No Member may transfer any portion of such Member’s Harvest Share to any person other than another Sector Member unless the Board first authorizes such transfer in writing. Any such transfer shall be subject to such terms and conditions as the Board may adopt from time to time. Without limiting the foregoing, the Sector Board of Directors may condition, review, approve and restrict transfers of Harvest Shares to non‐Members as it deems necessary to promote the harvest of the Sector’s entire ACE allocation and ensure that the Sector’s management and administrative costs can be recouped through reasonable Sector membership fees established by the Board.
Harvest Share Transfer. Subject to the terms and conditions of this Agreement, 24 each Member may transfer some or all of such Member’s Harvest Share to one or more Active 25 Member(s) on such terms and conditions as the transferor Member and the transferee Active 26 Member(s) may agree. No transfer of a Member’s Harvest Share shall become effective until the 27 Manager has received actual notice of such transfer. No Member may transfer any portion of such 28 Member’s Harvest Share, or interest in the Sector’s ACE, to any person other than an Active Member 29 unless the Board first authorizes such transfer in writing. Any such transfer shall be subject to such 1 terms and conditions as the Board may adopt from time to time, including but not limited to 2 establishment of procedures to implement a Right of First Offer (the “ROFO”) that is extended to Active 3 Members of the Sector, Active Members of other Northeast Fishery Sectors, and certain other parties in 4 accordance with the terms and conditions established by the Board. Without limiting the foregoing, the 5 Sector Board of Directors may condition, review, approve and restrict transfers of Harvest Shares to
Harvest Share Transfer. Subject to the terms and conditions of this Agreement, each Member may transfer some or all of such Member’s Harvest Share to one or more other Members on such terms and conditions as the transferor Member and the transferee Member(s) may agree. No transfer of a Member’s Harvest Share shall become effective until the Manager has received actual notice of such transfer. Any such transfer shall be subject to such terms and conditions as the Board may adopt from time to time. Without limiting the foregoing, the Sector Board of Directors may condition, review, approve and restrict transfers of Harvest Shares to non‐Members as it deems necessary.
Harvest Share Transfer. Subject to the terms and conditions of this Agreement, each Member may transfer some or all of such Member’s Harvest Share to one or more Active Member(s) on such terms and conditions as the transferor Member and the transferee Active Member(s) may agree. No transfer of a Member’s Harvest Share shall become effective until the Manager has received actual notice of such transfer. No Member may transfer any portion of such Member’s Harvest Share, or interest in the Sector’s ACE, to any person other than an Active Member unless the Board first authorizes such transfer in writing. Any such transfer shall be subject to such terms and conditions as the Board may adopt from time to time, including but not limited to establishment of procedures to implement a Right of First Offer (the “ROFO”) that is extended to Active Members of the Sector, Active Members of other Northeast Fishery Sectors, and certain other parties in accordance with the terms and conditions established by the Board. Without limiting the foregoing, the Sector Board of Directors may condition, review, approve and restrict transfers of Harvest Shares to non-Members as it deems necessary to promote the harvest of the Sector’s entire ACE allocation and ensure that the Sector’s management and administrative costs can be recouped through reasonable Sector membership fees established by the Board.
