The lessee may, with the approval of the Secretary, assign in whole or in part any lease, and to the extent of such assignment be relieved from any liability in respect of such lease, accruing subsequent to the effective date of such assignment.

Terms Used In 43 USC 316i

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • lessee: means the holder of any lease. See 43 USC 316a
  • Secretary: means the Secretary of the Interior. See 43 USC 316a
  Previous section
Next section  
 Subchapter II Contents