Document ID: chunk:federal_register_of_legislation:C2024C00591:schedule:1:p24
Version: federal_register_of_legislation:C2024C00591
Segment Type: schedule
Provision Reference: sch 1 (pt 24/26)
Character Range: 525886–528813

the next five licences to be made available for the same pro‑rata payment as the first 35 licences, and an additional 10 licences to be made available at US$60,000 per vessel;
            (ii) for subsequent annual Licensing Periods, 40 vessel licences calculated on the same basis as the first 40 vessel licences in sub‑paragraph (i) and indexed to the price of fish as set forth below, with 10 additional licences to be made available at US$60,000 per vessel and indexed to the price of fish as set forth below.
      (b) The indexation shall be applied as follows:
            (i) DEFINITIONS
                 A. Base Vessel Payment: The Base Vessel Payment is US$50,000 for the first 40 vessels to be licensed and US$60,000 for vessels to be licensed in excess of 40 vessels.
                 B. Adjusted Individual Vessel Payment: The Adjusted Individual Vessel Payment is the individual vessel payment of each annual Licensing Period after the first annual Licensing Period. The Adjusted Individual Vessel Payment will always apply to the Licensing Period immediately following its calculation.
                 C. Landed Price: The Landed Price is the published standard price per ton (American Tuna Sales Association) for fish delivered to American Samoa prevailing at the time a United States purse seine vessel arrives in port for the purpose of offloading its catch.
                 D. Average Landed Price: The Average Landed Price is calculated by averaging the established landed price categories for yellowfin and skipjack tuna in American Samoa. The landed price categories to be used are: over 7.5 pounds, 4 to 7.5 pounds and 3 to 4 pounds for skipjack; over 20 pounds, 7.5 to 20 pounds and 4 to 7.5 pounds for yellowfin.
                 E. Base Price: The Base Price is the Average Landed Price for the three months prior to the Treaty entering into force.
                 F. Estimated Landed Value: The Estimated Landed Value is the Average Landed Price in effect at the time of a vessel's landing weighted by the yellowfin/skipjack mix ratio to be calculated from information on Schedule 6 for that vessel.
                 G. Average Estimated Landed Value: The Average Estimated Landed Value is the Estimated Landed Value for all landings by United States purse seine vessels in American Samoa in the four quarters preceding the final quarter of the applicable Licensing Period divided by the total number of those landings for the same period.
            (ii) CALCULATION AND APPLICATION OF INDEXING FACTOR
                 A. To obtain the indexing factor by which the Adjusted Individual Vessel Payment shall be calculated, divide the Average Estimated Landed Value for the preceding four quarters by the Base Price.
                 B. To obtain the Adjusted Individual Vessel Payment, multiply the Base Vessel Payment by the indexing factor obtained in Paragraph (ii) A.
                 C. In no