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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 11. Natural Resources. |
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Part 11.1. Office of the Commissioner. |
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Chapter 11.25. Royalty Election Under Alaska Gasline Inducement Act. |
Section 11.25.290. Request to amend lease, unit agreement, or royalty settlement agreement under AS 43.90.310(b).
Latest version.
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(a) A qualified person that has elected a royalty inducement under AS 43.90.310 and 11 AAC 25.040 may request, on a request form provided by the commissioner, that the commissioner contractually amend an existing lease. The request form must be signed by a representative of the applicant that is authorized to enter into an agreement to amend the lease. (b) A request to amend a lease must be submitted at the same time that the qualified person submits the election form for a resource inducement under 11 AAC 25.040. The commissioner will not approve a request to amend a lease until after the commissioner has approved the qualified person's election of resource inducement under 11 AAC 25.040. (c) An amendment to a lease under AS 43.90.310(b) and this chapter affects only the provisions or parts of a provision of the lease that are amended and shall not be construed as an amendment to any other provision of the lease, unit agreement, or royalty settlement agreement.
Authorities
38.05.020;38.05.180;43.90.310