Length of Commitment Clause Samples

Length of Commitment. Each Member hereby agrees to cause each of its 2 Permits and the related Participating Vessels enrolled in the Sector at the beginning of the fishing 3 year following the date on which such Member enrolled in the Sector to remain enrolled in the 4 Sector for that entire (one) fishing year (the “Commitment Period”) with the option to enroll for 5 fishing year 2022 under this two year operations plan; provided, however, that if the Members 6 seek to extend the terms of this Agreement consistent with Article IX below and ▇▇▇▇▇ does 7 not approve the Sector’s Operations Plan and Agreement, as the same may be amended, for the 8 subsequent fishing year, then the obligation of such Member under this Section 2.03 shall 9 terminate on the last day of the existing Commitment Period. Each Member further agrees that if 10 its Permit leaves the Sector for any reason during the Commitment Period, or beginning for 11 fishing years 2021 and beyond fails to notify the Manager of intent to leave Sector by the 12 December 1 preceding the start of the next fishing year, (i) such Member shall be subject to the 13 penalty or penalties described on the Schedule of Penalties (as hereinafter defined), and (ii) such 14 Member, its Permit and the related Participating Vessel shall be ineligible to participate in the 15 Sector for a period of up to five [5] years following the date of such departure from the Sector as 16 determined by the Board. Each Member acknowledges and agrees that 50 CFR Part 648.87 17 requires that each of its Permits and the related Participating Vessels must remain in the Sector 18 for the entire fishing year in which such Permits and/or Participating Vessels are enrolled in the 19 Sector, and that each Member’s Participating Vessels may not fish outside the Sector under a 20 multispecies DAS program during any fishing year in which its Permits and/or Participating 21 Vessels are enrolled in the Sector.