§ 585.510. May BOEM defer, reduce, or waive my lease or grant payments?
164 words·~1 min read·
/us/cfr/t30/s§ 585.510·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The BOEM Director may defer, reduce, or waive the rent or operating fee or components of the operating fee, such as the fee rate or capacity factor, when the Director determines that continued activities would be uneconomic without the requested deferral, reduction, or waiver, or that it is necessary to encourage continued or additional activities.
(b)When requesting a deferral, reduction, or waiver, you must submit an application to BOEM that includes all of the following:
(1)The number of the lease, ROW grant, or RUE grant involved;
(2)Name of each lessee or grant holder of record;
(3)Name of each operator;
(4)A demonstration that:
(i)Continued activities would be uneconomic without the requested deferral, reduction, or waiver; or
(ii)A deferral, reduction, or waiver is necessary to encourage additional activities; and
(5)Any other information required by the Director.
(c)No more than 6 years of your operations period will be subject to a full waiver of the operating fee.