§ 51.60. How will a new concession contract awarded to an existing concessioner treat a leasehold surrender interest obtained under a prior concession contract?
108 words·~1 min read·
/us/cfr/t36/s§ 51.60·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a concessioner under a leasehold surrender interest concession contract is awarded a new concession contract by the Director, and the new concession contract continues a leasehold surrender interest in related capital improvements, then the concessioner's leasehold surrender interest value (established as of the date of expiration or termination of its prior concession contract) in the related capital improvements will be continued as the initial value (instead of initial construction cost) of the concessioner's leasehold surrender interest under the terms of the new concession contract.
No compensation will be due the concessioner for its leasehold surrender interest or otherwise in these circumstances except as provided by this part.