The form is used when the Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Lease equal to a pecentage of 8/8 (the Override ).
Georgia Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction An Assignment of Overriding Royalty Interest is a legal document used in the state of Georgia to transfer ownership of a portion of the royalty interest in an oil or gas lease. This assignment is specifically made by the Overriding Royalty Interest Owner, who holds the right to receive a predetermined percentage of the revenue generated from the lease. In Georgia, there are different types of Assignment of Overriding Royalty Interest, one of which is characterized by "No Proportionate Reduction". This type of assignment ensures that the Overriding Royalty Interest Owner is entitled to receive the full predetermined percentage, without any reduction or sharing basis in the event of additional or new leases added to the existing oil or gas field. This means that the Overriding Royalty Interest Owner will continue to enjoy the same percentage of the overall revenue generated from the lease, regardless of any subsequent developments or expansions. By entering into a Georgia Assignment of Overriding Royalty Interest, the Overriding Royalty Interest Owner gains various benefits. Firstly, it provides them with a steady income stream as they receive a percentage of revenue generated from the lease. Additionally, this type of assignment allows the owner to diversify their investments and potentially benefit from the growth of the oil or gas field. Moreover, the absence of proportionate reduction provides the owner with financial security and stability, as their royalty interest remains constant irrespective of any future changes. However, it is crucial for both parties involved in the assignment to carefully review and negotiate the terms and conditions, such as the specific percentage of the overriding royalty interest and any potential restrictions on the assignment. Additionally, it is recommended to seek legal advice to ensure compliance with Georgia state laws and regulations governing the assignment of overriding royalty interest. In conclusion, a Georgia Assignment of Overriding Royalty Interest in an Overriding Royalty Interest Owner, with "No Proportionate Reduction", allows the owner to retain their predetermined percentage of the revenue generated from the lease, ensuring a steady income stream and potentially benefiting from future growth. This assignment type provides financial security and stability, making it a valuable instrument for both parties involved in the oil and gas lease agreement.Georgia Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction An Assignment of Overriding Royalty Interest is a legal document used in the state of Georgia to transfer ownership of a portion of the royalty interest in an oil or gas lease. This assignment is specifically made by the Overriding Royalty Interest Owner, who holds the right to receive a predetermined percentage of the revenue generated from the lease. In Georgia, there are different types of Assignment of Overriding Royalty Interest, one of which is characterized by "No Proportionate Reduction". This type of assignment ensures that the Overriding Royalty Interest Owner is entitled to receive the full predetermined percentage, without any reduction or sharing basis in the event of additional or new leases added to the existing oil or gas field. This means that the Overriding Royalty Interest Owner will continue to enjoy the same percentage of the overall revenue generated from the lease, regardless of any subsequent developments or expansions. By entering into a Georgia Assignment of Overriding Royalty Interest, the Overriding Royalty Interest Owner gains various benefits. Firstly, it provides them with a steady income stream as they receive a percentage of revenue generated from the lease. Additionally, this type of assignment allows the owner to diversify their investments and potentially benefit from the growth of the oil or gas field. Moreover, the absence of proportionate reduction provides the owner with financial security and stability, as their royalty interest remains constant irrespective of any future changes. However, it is crucial for both parties involved in the assignment to carefully review and negotiate the terms and conditions, such as the specific percentage of the overriding royalty interest and any potential restrictions on the assignment. Additionally, it is recommended to seek legal advice to ensure compliance with Georgia state laws and regulations governing the assignment of overriding royalty interest. In conclusion, a Georgia Assignment of Overriding Royalty Interest in an Overriding Royalty Interest Owner, with "No Proportionate Reduction", allows the owner to retain their predetermined percentage of the revenue generated from the lease, ensuring a steady income stream and potentially benefiting from future growth. This assignment type provides financial security and stability, making it a valuable instrument for both parties involved in the oil and gas lease agreement.
