§3207.10. What is the primary term of my lease?

43 C.F.R. § 3207.10

(a)

Leases have a primary term of 10 years.

(b)

BLM will extend the primary term for 5 years if:

(1)

By the end of the 10th year of the primary term in paragraph (a), you have satisfied the requirements in § 3207.11; and

(2)

At the end of each year after the 10th year of the lease, you have satisfied the requirements in § 3207.12(a) or (d) for that year.

(c)

BLM will extend the primary term for 5 additional years if:

(1)

You satisfied the requirements of § 3207.12(b) or (d); and

(2)

At the end of each year of the second 5-year extension you satisfy the requirements in § 3207.12(c) or (d) for that year.

(d)

If you do not satisfy the annual requirements during the initial or additional extension of your primary term, your lease terminates or expires.

Notes, amendments, and revision history

Authority: 30 U.S.C. 1001-1028; 43 U.S.C. 1701 et seq.; and Pub. L. 109-58.

Source: 72 FR 24400, May 2, 2007, unless otherwise noted.