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43 C.F.R. § 3213.15   Will my lease automatically terminate if my rental payment is on time but for the wrong amount?

Title 43: Public Lands: Interior
PART 3200—GEOTHERMAL RESOURCE LEASING
Subpart 3213—Relinquishment, Termination, Cancellation, and Expiration

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§ 3213.15   Will my lease automatically terminate if my rental payment is on time but for the wrong amount?

(a) If MMS receives your rental payment on time, but it is deficient by a nominal amount, your lease will not automatically terminate. A nominal amount is not more than $100 or five percent of the total payment due, whichever is less. MMS will notify you if your payment is deficient, and will set a date by which a further payment must be made. If you do not send this further payment in the time allowed, we will terminate your lease as of the anniversary date of the lease.

(b) If your rental payment is deficient by more than a nominal amount, your lease will automatically terminate on the anniversary date of the lease.