Right, for an annual contract, that is what would happen. But, for an every-other-year contract, the pool credits would be used first, because they expire before the next "other year." Here's why: suppose you are an every-odd-year owner. You decide on December 15th 2016 to pool your 2017 UY. Those pool credits now expire three years from that day, or December 15th, 2019. Your next allocation is your 2019 UY, but those expire December 31, 2019---after the pooled credits.