43 CFR 16.4 - Consideration to the United States; renegotiation.

§ 16.4 Consideration to the United States; renegotiation.

(a) The Secretary shall determine the royalty or other compensation to be paid by the applicant, which royalty or other compensation together with the royalties and other compensation paid by the oil and gas lessee, shall be in an amount sufficient to secure to the United States a return on all the values, including recovered helium.

(b) The Secretary may require that each agreement shall contain a renegotiation clause providing for renegotiation of the royalty percentage ten years from the effective date of the agreement and at five-year intervals thereafter.

[ 29 FR 9383, July 9, 1964. Redesignated at 30 FR 9218, July 23, 1965]

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