CFR > Title 30 - Mineral Resources > CHAPTER II—MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR > SUBCHAPTER B—OFFSHORE (parts 250 to 285) > PART 256—LEASING OF SULPHUR OR OIL AND GAS IN THE OUTER CONTINENTAL SHELF > SUBPART N—Bonus or Royalty Credits for Exchange of Certain Leases Offshore Florida (§256.90 to §256.95) > 256.91—How much bonus or royalty credit will MMS grant in exchange for a lease?

256.91—How much bonus or royalty credit will MMS grant in exchange for a lease?

The amount of the bonus or royalty credit for an exchanged lease equals the sum of:
(a) The amount of the bonus payment; and
(b) All rent paid for the lease as of the date the lessee submits the request to exchange the lease under § 256.92 to MMS.