When do I pay rent?

§ 2885.16 When do I pay rent? (a) You must pay rent for the initial rental period before we issue you a grant or TUP. We prorate the initial rental amount based on the number of full months left in the calendar year after the effective date of the grant or TUP. If your grant qualifies for annual payments, the initial rent consists of the remaining partial year plus the next full year. If your grant or TUP allows for multi-year payments, your initial rent payment may be for the full term of the grant or TUP. See § 2885.21 for additional information on payment of rent. (b) You make all other rental payments according to the payment plan described in § 2885.21 of this subpart. (c) After the first rental payment, all rent is due on January 1 of the first year of each succeeding rental period for the term of your grant. [70 FR 21078, Apr. 22, 2005, as amended at 81 FR 92228, Dec. 19, 2016]