Common use of Permit and Annual Catch Entitlement Transfers Clause in Contracts

Permit and Annual Catch Entitlement Transfers. Each Member agrees that so long as it is a party to this Agreement, such Member (i) shall not have the authority to sell, lease or transfer the ownership of its Permit or the right to harvest any portion or all of the Permit’s individual harvest share (share) to a party that is not bound by this Agreement for the remainder of the fishing year in which such sale, lease or transfer is to occur,

Permit and Annual Catch Entitlement Transfers. Each Member agrees that so long as it is a party to this Agreement, such Member (i) shall not have the authority to sell, lease or transfer the ownership of its Permit or the right to harvest any portion or all of the Permit’s individual harvest share (share) Annual Catch Entitlement to a party that is not bound by this Agreement for the remainder of the fishing year in which such sale, lease or transfer is to occur,