Common use of Liquidated Damages Collection and Related Expenses Clause in Contracts

Liquidated Damages Collection and Related Expenses. If a Member fails to resolve a breach of this Agreement through voluntary compliance measures approved by the Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank of America, or such other bank as the Board may select from time to time, as of the last day of the voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal action to collect the liquidated damages. In addition, in connection with Member breaches resulting from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement Committee) may take possession of an amount of the Member in breach’s Harvest Share for the overharvested species for the year in which the contract breach occurred and, if necessary, in subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvest, provided that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with any action to collect liquidated damages from a Member in breach of this Agreement, whether or not the Sector prevails in such action.

Appears in 18 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

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Liquidated Damages Collection and Related Expenses. If a Member fails to 22 resolve a breach of this Agreement through voluntary compliance measures approved by the 23 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 24 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 25 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 26 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 27 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 28 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 29 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 30 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 31 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 1 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 2 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 3 overharvested species for the year in which the contract breach occurred and, if necessary, in 4 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 5 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 6 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 7 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 8 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 9 the Sector prevails in such action.

Appears in 5 contracts

Samples: Sector Operations Plan and Agreement, Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 22 resolve a breach of this Agreement through voluntary compliance measures approved by the 23 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 24 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 25 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 26 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 27 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 28 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 29 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 30 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 31 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 1 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 2 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 3 overharvested species for the year in which the contract breach occurred and, if necessary, in 4 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 5 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 6 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 7 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 8 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 9 the Sector prevails in such action.

Appears in 5 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 15 resolve a breach of this Agreement through voluntary compliance measures approved by the 16 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 17 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 18 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 19 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 20 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 21 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 22 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 23 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 24 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 25 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 26 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 27 overharvested species for the year in which the contract breach occurred and, if necessary, in 28 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 29 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 30 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 31 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 1 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 2 the Sector prevails in such action.

Appears in 4 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 6 resolve a breach of this Agreement through voluntary compliance measures approved by the 7 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 8 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 9 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 10 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 11 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 12 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 13 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 14 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 15 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 16 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 17 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 18 overharvested species for the year in which the contract breach occurred and, if necessary, in 19 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 20 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 21 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 22 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 23 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 24 the Sector prevails in such action.

Appears in 3 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 26 resolve a breach of this Agreement through voluntary compliance measures approved by the 27 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 28 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 29 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 30 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 31 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 1 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 2 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 3 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 4 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 5 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 6 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 7 overharvested species for the year in which the contract breach occurred and, if necessary, in 8 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 9 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 10 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 11 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 12 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 13 the Sector prevails in such action.

Appears in 3 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 18 resolve a breach of this Agreement through voluntary compliance measures approved by the 19 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 20 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 21 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 22 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 23 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 24 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 25 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 26 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 27 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 28 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 29 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 30 overharvested species for the year in which the contract breach occurred and, if necessary, in 31 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 1 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 2 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 3 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 4 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 5 the Sector prevails in such action.

Appears in 3 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to resolve a breach of this Agreement through voluntary compliance measures approved by the Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank of America, or such other bank as the Board may select from time to time, as of the last day of the voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal action to collect the liquidated damages. In addition, in connection with Member breaches resulting from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement Committee) may take possession of an amount of the Member in breach’s Harvest Share for the overharvested species for the year in which the contract breach occurred and, if necessary, in subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with any action to collect liquidated damages from a Member in breach of this Agreement, whether or not the Sector prevails in such action.

Appears in 2 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 7 resolve a breach of this Agreement through voluntary compliance measures approved by the 8 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 9 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 10 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 11 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 12 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 13 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 14 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 15 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 16 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 17 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 18 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 19 overharvested species for the year in which the contract breach occurred and, if necessary, in 20 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 21 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 22 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 24 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 25 the Sector prevails in such action.

Appears in 2 contracts

Samples: Sector Operations Plan and Agreement, Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member members fails to resolve a breach of this Agreement agreement through voluntary compliance measures approved by the Enforcement Committee and performed by such Member member on a timely basis, the Member member in breach shall pay the liquidated damages amount assessed by the Sector sector within ten (10) days of the end of the voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank of America, or such other bank as the Board may select from time to time, as of the last day of the voluntary compliance period plus twelve percent (12%). If a Member member fails to pay the liquidated damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the end of the voluntary compliance period described in Section 10.9, above, the Sector sector may pursue legal action to collect the liquidated damages. In addition, in connection with Member member breaches resulting from an over‐harvest overharvest of a Membermember’s Harvest Shareharvest share, the Sector sector (acting through the Enforcement Committee) may take possession of an amount of the Member member in breach’s Harvest Share harvest share for the overharvested species for the year in which the contract breach occurred and, if necessary, in subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestoverharvest, provided that the amount of a Membermember’s liability to the Sector sector for over‐harvest overharvest shall be reduced proportionately to the extent that the Sector sector does so. In addition to liquidated damages, the Sector sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector sector in connection with any action to collect liquidated damages from a Member member in breach of this Agreementagreement, whether or not the Sector sector prevails in such action.

Appears in 1 contract

Samples: www.fisheries.noaa.gov

Liquidated Damages Collection and Related Expenses. If a Member fails to 22 resolve a breach of this Agreement through voluntary compliance measures approved by the 23 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 24 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 25 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 26 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 27 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 28 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 29 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 30 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 31 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 1 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 2 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 3 overharvested species for the year in which the contract breach occurred and, if necessary, in 4 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 5 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 6 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 7 all fees, costs costs, and expenses, including attorney’s fees, actually incurred by the Sector in connection with 8 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 9 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 7 resolve a breach of this Agreement through voluntary compliance measures approved by the 8 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 9 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 10 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 11 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 12 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 13 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 14 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 15 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 16 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 17 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 18 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 19 overharvested species for the year in which the contract breach occurred and, if necessary, in 20 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 21 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 22 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 24 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 25 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 6 resolve a breach of this Agreement through voluntary compliance measures approved by the 7 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 8 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 9 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 10 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 11 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 12 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 13 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 14 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 15 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 16 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 17 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 18 overharvested species for the year in which the contract breach occurred and, if necessary, in 19 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 20 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 21 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 22 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 23 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 24 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 17 resolve a breach of this Agreement through voluntary compliance measures approved by the 18 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 19 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 20 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 21 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 22 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 24 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 25 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 26 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 27 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 28 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 29 overharvested species for the year in which the contract breach occurred and, if necessary, in 30 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 31 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 1 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 3 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 4 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 9 resolve a breach of this Agreement through voluntary compliance measures approved by the 10 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 11 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 12 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts amount not paid 13 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 14 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 15 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 16 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 17 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 18 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 19 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 20 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 21 overharvested species for the year in which the contract breach occurred and, if necessary, in 22 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 23 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 24 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 25 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 26 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 27 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 21 resolve a breach of this Agreement through voluntary compliance measures approved by the 22 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 23 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 24 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 25 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 26 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 27 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 28 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 29 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 30 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 31 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 1 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 2 overharvested species for the year in which the contract breach occurred and, if necessary, in 3 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 4 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 5 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 7 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 8 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

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Liquidated Damages Collection and Related Expenses. If a Member fails to 13 resolve a breach of this Agreement through voluntary compliance measures approved by the 14 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 15 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 16 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 17 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 18 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 19 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 20 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 21 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 22 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 23 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 24 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 25 overharvested species for the year in which the contract breach occurred and, if necessary, in 26 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 27 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 28 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 29 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 30 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 31 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to resolve 21 r esolve a breach of this Agreement through voluntary compliance measures approved by the 22 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall pay 23 p 24 v 25 w 26 B ay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary oluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid when hen due shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank ank of America, or such other bank as the Board may select from time to time, as of the last day of the voluntary 27 v oluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated damages 28 d 29 e 30 a amages amount assessed by the Enforcement Committee with interest within thirty (30) days of the end nd of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal action ction to collect the liquidated damages. In addition, in connection with Member breaches resulting from 31 f rom an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 1 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 2 overharvested species for the year in which the contract breach occurred and, if necessary, in 3 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided that 4 t hat the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 5 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 7 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not the 8 t he Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 15 resolve a breach of this Agreement through voluntary compliance measures approved by the 16 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 17 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 18 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 19 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 20 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 21 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 22 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 23 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 24 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 25 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 26 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 27 overharvested species for the year in which the contract breach occurred and, if necessary, in 28 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 29 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 30 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 31 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 1 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 2 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 12 resolve a breach of this Agreement through voluntary compliance measures approved by the 13 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 14 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 15 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 16 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 17 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 18 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 19 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 20 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 21 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 22 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 23 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 24 overharvested species for the year in which the contract breach occurred and, if necessary, in 25 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 26 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 27 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 28 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 29 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 30 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails 27 to resolve a breach of this Agreement through voluntary compliance measures approved by the 28 Enforcement Committee and performed by such Member on a timely basis, the Member in breach 29 shall pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 30 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 31 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 32 Bank of America, or such other bank as the Board may select from time to time, as of the last day of 1 the voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 2 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 3 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 4 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 5 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 6 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 7 overharvested species for the year in which the contract breach occurred and, if necessary, in 8 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, 9 provided that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced 10 proportionately to the extent that the Sector does so. In addition to liquidated damages, the Sector 11 shall be entitled to all fees, costs and expenses, including attorney’s fees, actually incurred by the 12 Sector in connection with any action to collect liquidated damages from a Member in breach of this 13 Agreement, whether or not the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 4 resolve a breach of this Agreement through voluntary compliance measures approved by the 5 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 6 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 7 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 8 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 9 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 10 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 11 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 12 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 13 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 14 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 15 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 16 overharvested species for the year in which the contract breach occurred and, if necessary, in 17 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 18 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 19 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 20 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 21 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 22 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 26 resolve a breach of this Agreement through voluntary compliance measures approved by the 27 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 28 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 29 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 30 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 31 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 1 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 2 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 3 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 4 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 5 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 6 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 7 overharvested species for the year in which the contract breach occurred and, if necessary, in 8 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 9 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 10 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 11 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 12 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 13 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 28 resolve a breach of this Agreement through voluntary compliance measures approved by the 29 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 30 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 1 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 2 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 3 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 4 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 5 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 6 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 7 from an over‐harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 8 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 9 overharvested species for the year in which the contract breach occurred and, if necessary, in 10 subsequent years, in a total amount equal to three (3) times the amount of such over‐ harvestover‐harvest, provided 11 that the amount of a Member’s liability to the Sector for over‐harvest shall be reduced proportionately 12 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 13 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 14 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 15 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

Liquidated Damages Collection and Related Expenses. If a Member fails to 28 resolve a breach of this Agreement through voluntary compliance measures approved by the 29 Enforcement Committee and performed by such Member on a timely basis, the Member in breach shall 30 pay the liquidated damages amount assessed by the Sector within ten (10) days of the end of the 31 voluntary compliance period described in Section 10.9, above. Liquidated damages amounts not paid 1 when due shall accrue interest at a rate of interest equal to the prime rate of interest announced by 2 Bank of America, or such other bank as the Board may select from time to time, as of the last day of the 3 voluntary compliance period plus twelve percent (12%). If a Member fails to pay the liquidated 4 damages amount assessed by the Enforcement Committee with interest within thirty (30) days of the 5 end of the voluntary compliance period described in Section 10.9, above, the Sector may pursue legal 6 action to collect the liquidated damages. In addition, in connection with Member breaches resulting 7 from an over‐harvest over-harvest of a Member’s Harvest Share, the Sector (acting through the Enforcement 8 Committee) may take possession of an amount of the Member in breach’s Harvest Share for the 9 overharvested species for the year in which the contract breach occurred and, if necessary, in 10 subsequent years, in a total amount equal to three (3) times the amount of such over‐ over-harvest, provided 11 that the amount of a Member’s liability to the Sector for over‐harvest over-harvest shall be reduced proportionately 12 to the extent that the Sector does so. In addition to liquidated damages, the Sector shall be entitled to 13 all fees, costs and expenses, including attorney’s fees, actually incurred by the Sector in connection with 14 any action to collect liquidated damages from a Member in breach of this Agreement, whether or not 15 the Sector prevails in such action.

Appears in 1 contract

Samples: Sector Operations Plan and Agreement

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