30 USC 1012 – Waiver, suspension, or reduction of rental or royalty
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The Secretary may waive, suspend, or reduce the rental or royalty for any lease or portion thereof in the interests of conservation and to encourage the greatest ultimate recovery of geothermal resources, if he determines that this is necessary to promote development or that the lease cannot be successfully operated under the lease terms.
Terms Used In 30 USC 1012
- geothermal resources: means (i) all products of geothermal processes, embracing indigenous steam, hot water and hot brines. See 30 USC 1001
- 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
- Secretary: means the Secretary of the Interior. See 30 USC 1001