California Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal document that allows the transfer of a portion of an overriding royalty interest from one party to another in California, without any reduction in the proportion of the original interest. It is commonly used in oil and gas industries, where an overriding royalty interest refers to the right to receive a percentage of the revenue from oil and gas production, typically set forth in a lease agreement. The California Assignment of Overriding Royalty Interest (No Proportionate Reduction) is designed to facilitate the transfer of this interest without any reduction in the relative proportion compared to other interest holders. It ensures that the assignee receives a fixed and unchanging share of the royalty, regardless of any changes that may occur in the overall interest structure. There are no specific subtypes of the California Assignment of Overriding Royalty Interest (No Proportionate Reduction), as it refers to a specific provision that can be incorporated into various legal agreements and contracts. However, it is essential to understand the general terms and conditions associated with this type of assignment to ensure legal compliance and protect the rights of all parties involved. Keywords: California, Assignment of Overriding Royalty Interest, No Proportionate Reduction, legal document, transfer, royalty interest, oil and gas industries, lease agreement, revenue, interest holders, interest structure, provisions, legal agreements, contracts, terms and conditions.
California Assignment of Overriding Royalty Interest (No Proportionate Reduction)
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