§ 585.235 - If I have a commercial lease, how long will my lease remain in effect?

§ 585.235 If I have a commercial lease, how long will my lease remain in effect?

(a) For commercial leases, the lease terms and applicable automatic extensions are as shown in the following table:

Lease term	Automatic extensions	Requirements
(1) Each commercial lease will have a preliminary term of 12 months, within which the lessee must submit: (i) a SAP; or (ii) a combined SAP and Construction and Operations Plan (COP). The preliminary term begins on the effective date of the lease	If BOEM receives a SAP that satisfies the requirements of §§ 585.605 through -585.613 or a SAP/COP that satisfies the requirements of §§ 585.605 through -585.613 and §§ 585.620 through -585.629628, the preliminary term will be extended for the time necessary for us to conduct technical and environmental reviews of the SAP or SAP/COP	The SAP must meet the requirements of §§ 585.605 through -585.613. The SAP/COP must meet the requirements of §§ 585.605 through -585.613 and §§ 585.620 through -585.629628.
(2) A commercial lease will have a site assessment term of five years to conduct site assessment activities and to submit a COP, if a SAP/COP has not been submitted. Your site assessment term begins when BOEM approves your SAP or SAP/COP	If we receive a COP that satisfies the requirements of §§ 585.620 through -585.629628, the site assessment term will be automatically extended for the period of time necessary for us to conduct technical and environmental reviews of the COP	The COP must meet the requirements of §§ 585.620 through -585.629 of this part628.
(3) A commercial lease will have an operations term of 25 years, unless a longer term is negotiated by the parties. A request for lease renewal must be submitted two years before the end of the operations term. If you submit a COP, your operations term begins on the date that BOEM approves the COP. If you submit a SAP/COP, your operations term begins on the earliest of the following dates: five years after BOEM approves the SAP/COP; when fabrication begins; or, when installation commences		The lease renewal request must meet the requirements in §§ 585.425 through -585.429.
(4) A commercial lease may have additional time added to the operations term through a lease renewal. The term of the lease renewal will not exceed the original term of the lease, unless a longer term is negotiated by the parties. The lease renewal term begins upon expiration of the original operations term		NOTE: BOEM may also order or grant a suspension of the operations term, as provided in §§ 585.415 through -585.421 thereby effectively extending the term of the lease.

(b) If you do not timely submit a SAP, COP, or SAP/COP, as appropriate, you may request additional time to extend the preliminary or site assessment term of your commercial lease that includes a revised schedule for submission of the plan, as appropriate.

[76 FR 64623, Oct. 18, 2011, as amended at 79 FR 21622, Apr. 17, 2014]