When a concessioner under a leasehold surrender interest concession contract is awarded a new concession contract by the Director, and the new concession contract continues a leasehold surrender interest in related capital improvements, then the concessioner’s leasehold surrender interest value (established as of the date of expiration or termination of its prior concession contract) in the related capital improvements will be continued as the initial value (instead of initial construction cost) of the concessioner’s leasehold surrender interest under the terms of the new concession contract. No compensation will be due the concessioner for its leasehold surrender interest or otherwise in these circumstances except as provided by this part.

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Terms Used In 36 CFR 51.60

  • construction: as used in this part also means "install" or "installation" of fixtures where applicable. See 36 CFR 51.51
  • Contract: A legal written agreement that becomes binding when signed.