Common use of Liquidated Damages Security Clause in Contracts

Liquidated Damages Security. The Board may require that a Member that has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing such Member’s payment and performance obligations under this Agreement in such amounts as the Board deems appropriate, or may require such Member to personally guaranty, and/or have other Members or third parties personally guaranty, such Member’s payment and performance obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 29 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 30 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 31 securing such Member’s payment and performance obligations under this Agreement in such amounts 1 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 2 other Members or third parties personally guaranty, such Member’s payment and performance 3 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 2 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 3 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 4 securing such Member’s payment and performance obligations under this Agreement in such amounts 5 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 6 other Members or third parties personally guaranty, such Member’s payment and performance 7 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 21 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 22 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 23 securing such Member’s payment and performance obligations under this Agreement in such amounts 24 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 25 other Members or third parties personally guaranty, such Member’s payment and performance 26 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that has two 13 (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 14 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 15 such Member’s payment and performance obligations under this Agreement in such amounts as the 16 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 17 Members or third parties personally guaranty, such Member’s payment and performance obligations 18 under this Agreement.

Liquidated Damages Security. The Board may require that a Member that has two 14 (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 15 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 16 such Member’s payment and performance obligations under this Agreement in such amounts as the 17 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 18 Members or third parties personally guaranty, such Member’s payment and performance obligations 19 under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 22 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 23 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 24 securing such Member’s payment and performance obligations under this Agreement in such amounts 25 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 26 other Members or third parties personally guaranty, such Member’s payment and performance 27 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 24 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 25 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 26 securing such Member’s payment and performance obligations under this Agreement in such amounts 27 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 28 other Members or third parties personally guaranty, such Member’s payment and performance 29 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 16 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 17 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 18 such Member’s payment and performance obligations under this Agreement in such amounts as the 19 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 20 Members or third parties personally guaranty, such Member’s payment and performance obligations 21 under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 4 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 5 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 6 securing such Member’s payment and performance obligations under this Agreement in such amounts 7 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 8 other Members or third parties personally guaranty, such Member’s payment and performance 9 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 21 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 22 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 23 securing such Member’s payment and performance obligations under this Agreement in such amounts 24 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 25 other Members or third parties personally guaranty, such Member’s payment and performance obligations under this Agreement.performance

Liquidated Damages Security. The Board may require that a Member that 16 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 17 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 18 securing such Member’s payment and performance obligations under this Agreement in such amounts 19 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 20 other Members or third parties personally guaranty, such Member’s payment and performance 21 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 28 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 29 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 30 securing such Member’s payment and performance obligations under this Agreement in such amounts 31 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 1 other Members or third parties personally guaranty, such Member’s payment and performance 2 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that has two 4 (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 5 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 6 such Member’s payment and performance obligations under this Agreement in such amounts as the 7 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 8 Members or third parties personally guaranty, such Member’s payment and performance obligations 9 under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 18 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 19 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 20 securing such Member’s payment and performance obligations under this Agreement in such amounts 21 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 22 other Members or third parties personally guaranty, such Member’s payment and performance obligations under this Agreement.performance

Liquidated Damages Security. The Board may require that a Member that 19 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 20 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 21 securing such Member’s payment and performance obligations under this Agreement in such amounts 22 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 23 other Members or third parties personally guaranty, such Member’s payment and performance 24 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 14 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 15 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 16 securing such Member’s payment and performance obligations under this Agreement in such amounts 17 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 18 other Members or third parties personally guaranty, such Member’s payment and performance 19 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 13 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 14 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 15 securing such Member’s payment and performance obligations under this Agreement in such amounts 16 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 17 other Members or third parties personally guaranty, such Member’s payment and performance 18 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 14 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 15 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 16 such Member’s payment and performance obligations under this Agreement in such amounts as the 17 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 18 Members or third parties personally guaranty, such Member’s payment and performance obligations 19 under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 11 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 12 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 13 such Member’s payment and performance obligations under this Agreement in such amounts as the 14 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 15 Members or third parties personally guaranty, such Member’s payment and performance obligations 16 under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 26 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 27 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 28 securing such Member’s payment and performance obligations under this Agreement in such amounts 29 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 30 other Members or third parties personally guaranty, such Member’s payment and performance 31 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that 23 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 24 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 25 securing such Member’s payment and performance obligations under this Agreement in such amounts 26 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 27 other Members or third parties personally guaranty, such Member’s payment and performance 28 obligations under this Agreement.

Liquidated Damages Security. The Board may require that a Member that has two 11 (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another 12 sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing 13 such Member’s payment and performance obligations under this Agreement in such amounts as the 14 Board deems appropriate, or may require such Member to personally guaranty, and/or have other 15 Members or third parties personally guaranty, such Member’s payment and performance obligations 16 under this Agreement.