CFR > Title 30 - Mineral Resources > CHAPTER II—MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR > SUBCHAPTER B—OFFSHORE (parts 250 to 285) > PART 285—RENEWABLE ENERGY ALTERNATE USES OF EXISTING FACILITIES ON THE OUTER CONTINENTAL SHELF > SUBPART D—Lease and Grant Administration (§285.400 to §285.437) > 285.433—What must I do after my lease or grant terminates?

285.433—What must I do after my lease or grant terminates?

(a) After your lease or grant terminates, you must:
(1) Make all payments due, including any accrued rentals and deferred bonuses; and
(2) Perform any other outstanding obligations under the lease or grant within 6 months.
(b) Within 2 years following termination of a lease or grant, you must remove or dispose of all facilities, installations, and other devices permanently or temporarily attached to the seabed on the OCS in accordance with a plan or application approved by MMS under subpart I of this part.
(c) If you fail to comply with your approved decommissioning plan or application:
(1) The MMS may call for the forfeiture of your financial assurance; and
(2) You remain liable for removal or disposal costs and responsible for accidents or damages that might result from such failure.