Common use of Membership Termination Clause in Contracts

Membership Termination. No sector member may terminate their membership in the sector 38 other than in accordance with this section. A member that has agreed to join the sector may 39 withdraw from the sector prior to the start of the fishing year (May 1) by providing notification to 40 the sector manager their intent to withdraw by the Termination Date (April 28, 2019 for FY 2019 41 and April 28, 2020, for FY 2020). A member that fails to provide such notice by the Termination 42 Date shall be deemed to have automatically renewed its sector membership for the following 43 fishing year. 45 If a sector member is in breach of this agreement or has outstanding sector payments or 46 performance obligations as of the Termination Date, unless the Board takes action to terminate 47 such member’s membership, such member’s membership shall be deemed renewed for the 48 following fishing year, notwithstanding any notice of withdrawal such member may give, and the 49 sector shall have the authority to file an application for a sector allocation including such member 50 as a member of the sector. Each member hereby grants the sector power of attorney, coupled 1 with an interest, for such purposes, and authorizes each of the sector’s officers to take any and all 2 actions and execute any and all documents necessary or convenient to give effect to this 3 provision.

Membership Termination. No sector member may terminate their membership in the sector 38 other than in accordance with this section. A member that has agreed to join the sector may 39 withdraw from the sector prior to the start of the fishing year (May 1) by providing notification to 40 the sector manager their intent to withdraw by the Termination Date (April 28, 2019 2023 for FY 2019 2023 41 and April 28, 20202024, for FY 20202024). A member that fails to provide such notice by the Termination 42 Date shall be deemed to have automatically renewed its sector membership for the following 43 fishing year. 45 If a sector member is in breach of this agreement or has outstanding sector payments or 46 performance obligations as of the Termination Date, unless the Board takes action to terminate 47 such member’s membership, such member’s membership shall be deemed renewed for the 48 following fishing year, notwithstanding any notice of withdrawal such member may give, and the 49 sector shall have the authority to file an application for a sector allocation including such member 50 as a member of the sector. Each member hereby grants the sector power of attorney, coupled 1 with an interest, for such purposes, and authorizes each of the sector’s officers to take any and all 2 actions and execute any and all documents necessary or convenient to give effect to this 3 provision.

Membership Termination. No sector member may terminate their membership in the sector 38 other than in accordance with this section. A member that has agreed to join the sector may 39 withdraw from the sector prior to the start of the fishing year (May 1) by providing notification to 40 the sector manager their intent to withdraw by the Termination Date (April 28, 2019 2021 for FY 2019 2021 41 and April 28, 20202022, for FY 20202022). A member that fails to provide such notice by the Termination 42 Date shall be deemed to have automatically renewed its sector membership for the following 43 fishing year. 45 If a sector member is in breach of this agreement or has outstanding sector payments or 46 performance obligations as of the Termination Date, unless the Board takes action to terminate 47 such member’s membership, such member’s membership shall be deemed renewed for the 48 following fishing year, notwithstanding any notice of withdrawal such member may give, and the 49 sector shall have the authority to file an application for a sector allocation including such member 50 as a member of the sector. Each member hereby grants the sector power of attorney, coupled 1 with an interest, for such purposes, and authorizes each of the sector’s officers to take any and all 2 actions and execute any and all documents necessary or convenient to give effect to this 3 provision.

Membership Termination. No sector member may terminate their membership in the sector 38 40 other than in accordance with this section. A member that has agreed to join the sector may 39 41 withdraw from the sector prior to the start of the fishing year (May 1) by providing notification 42 to 40 the sector manager their intent to withdraw by the Termination Date (April 28, 2019 2023, for FY 2019 41 43 2023 and April 28, 20202024, for FY 20202024). A member that fails to provide such notice by the 44 Termination 42 Date shall be deemed to have automatically renewed its sector membership for the 45 following 43 fishing year. 45 47 If a sector member is in breach of this agreement or has outstanding sector payments or 46 48 performance obligations as of the Termination Date, unless the Board takes action to terminate 47 49 such member’s membership, such member’s membership shall be deemed renewed for the 48 50 following fishing year, notwithstanding any notice of withdrawal such member may give, and the 49 1 sector shall have the authority to file an application for a sector allocation including such member 50 2 as a member of the sector. Each member hereby grants the sector power of attorney, coupled 1 3 with an interest, for such purposes, and authorizes each of the sector’s officers to take any and all 2 4 actions and execute any and all documents necessary or convenient to give effect to this 3 5 provision.