MMS-4437 Assignment of Certificate of Deposit

30 CFR Part 243, Suspension Pending Appeal and Bonding

Form MMS-4437 Assignment Of CD

30 CFR Part 243, Suspension Pending Appeal and Bonding

OMB: 1010-0122

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U.S. Department of the Interior

OMB Control Number 1010-0122
OMB Approval Expires July 31, 2008

Minerals Management Service
Minerals Revenue Management

ASSIGNMENT OF CERTIFICATE OF DEPOSIT
Form MMS-4437

Whereas, on the _____ day of __________, ____, _________________, of _________________
Month

Year

Company Name

Address

____________________________ executed certain certificate(s) of deposit described as follows:
CD Number ________________ in the amount of $__________________
Bank Name_______________________, ABA number _______________
to secure the appealed amounts of royalties and/or interest due the United States, Minerals
Management Service (MMS). Certificate(s) of Deposit will be redeemed by MMS in the event
that ________________, is unsuccessful in its appeal of Docket No. ______________, appeal
Company Name

amount of $______________ plus interest, and has for a period of more than 15 days neglected,
Bill Amount

failed, or refused to pay such amount although requested to do so by MMS of the Department of
the Interior.
To satisfy the requirements of 30 CFR 243.4, the undersigned, _________________ as obligator,
Company Name

hereby pledges the Certificate(s) of Deposit as described above, to “The United States Minerals
Management Service, Associate Director for Minerals Revenue Management.”
The condition of the above assignment is such that the Certificate:
(a) shall be pledged to the United States Minerals Management Service Associate Director for
Minerals Revenue Management in writing and upon the books of the institution issuing such
certificates;
(b) shall be issued from a bank that has a minimum Fitch rating or is confirmed by a bank with
an acceptable rating. Acceptable ratings are: “C” for less than 1 million dollars ($1 million);
“B/C” for between 1 and 10 million dollars ($1 million to $10 million); and “B” for over 10
million dollars ($10 million);
(c) shall be conditioned upon the issuing institution waiving all rights of setoff or liens which it
has or may have against those certificates;
(d) shall be of sufficient amount so that liquidation of those certificates prior to maturity would
provide the required surety amount;
(e) shall remain in full force and effect until the assignment is released in writing by the United
States Minerals Management Service Associate Director for Minerals Revenue Management;

Form MMS-4437 (revised 02/2005)

Page 1 of 2

U.S. Department of the Interior

OMB Control Number 1010-0122
OMB Approval Expires July 31, 2008

Minerals Management Service
Minerals Revenue Management

The assignment shall be valid throughout any maturity redemption period as designated by the
issuing institution and shall also automatically renew itself when the CD is renewed.
If there are penalties for early redemption, such penalties will be paid out of the obligor’s interest
earned, not out of the principal amount of the CD.
In Witness Whereby, the obligor has hereunto set its signature and seal this ______ day of
__________, ______.
Month

Year

______________________________
Company Name

By: ___________________________

In Witness Whereof, the Issuing Institution has here unto set its signature and seal this
_________ day of ____________, ______.
Month

Year

______________________________
Issuing Bank

By: __________________________
Title: _______________________

Paperwork Reduction Act of 1995 (PRA) Statement: The PRA (44 U.S.C. § 3501 et seq.) requires us to inform you that we collect this
information to allow lessees, designees, or payors to stay the effectiveness of an order or decision by posting a surety instrument. The MMS uses
the information to secure the financial interests of the public and Indian lessors during the entire administrative and judicial appeal process.
Responses are required to obtain a benefit (43 U.S.C. § 1334). Proprietary information is protected in accordance with standards established by
the Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C. § 1733), the Freedom of Information Act (5 U.S.C. § 552(b)(4)), the
Department regulations (43 CFR § 2). An agency may not conduct or sponsor, and a person is not required to respond to, a collection of
information unless it displays a currently valid OMB Control Number. Public reporting burden for this form is estimated to average 1 hour per
response, including the time for reviewing instructions, gathering and maintaining data, and completing and reviewing the form. Direct
comments regarding the burden estimate or any other aspect of this form to the Information Collection Clearance Officer, Minerals Management
Service, Mail Stop 4230, 1849 C Street, NW, Washington, DC 20240.

Form MMS-4437 (revised 02/2005)

Page 2 of 2


File Typeapplication/pdf
File TitleMicrosoft Word - 0122 Attachment 6--Form MMS-4437 Assignment Of CD 02092005…
Authorsouthala
File Modified2008-03-13
File Created2005-02-09

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