CFR > Title 15 - Commerce and Foreign Trade > SUBTITLE B—Regulations Relating to Commerce and Foreign Trade > CHAPTER IX—NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE (parts 902 to 996) > SUBCHAPTER D—GENERAL REGULATIONS OF THE ENVIRONMENTAL DATA SERVICE (parts 950 to 971) > PART 970—DEEP SEABED MINING REGULATIONS FOR EXPLORATION LICENSES > SUBPART E—Issuance/Transfer/Terms, Conditions and Restrictions (§970.500 to §970.524) > 970.515—Duration of a license.

970.515—Duration of a license.

(a) Each exploration license will be issued for a period of 10 years.
(b) If the licensee has substantially complied with the license and its associated exploration plan and requests an extension of the license, the Administrator will extend the license on terms, conditions and restrictions consistent with the Act and this part for a period of not more than 5 years.
In determining substantial compliance for purposes of this section, the Administrator may make allowance for deviation from the exploration plan for good cause, such as significantly changed market conditions. However, a request for extension must be accompanied by an amended exploration plan to govern the activities by the licensee during the extended period.
(c) Successive extensions may be requested, and will be granted by the Administrator, based on the criteria, and for the length of time, specified in paragraph (b) of this section.