The Kansas Assignment of Production Payment Measured by Value Received is a legal agreement that allows a party to assign their rights to receive payments from the production of oil, gas, or other minerals. This assignment is measured by the value of the payments received rather than a fixed amount. This type of assignment is commonly used in the oil and gas industry in Kansas, where production payments are often based on the value of the minerals produced rather than a fixed royalty rate. Through this agreement, the assigning party, known as the assignor, transfers their right to receive these payments to another party, known as the assignee. The Kansas Assignment of Production Payment Measured by Value Received is a comprehensive document that outlines the terms and conditions of the assignment. It includes details such as the effective date, description of the assigned property, identification of the assignor and assignee, and the method of measuring the value of the production payments. The document also specifies the payment terms, including frequency and any applicable interest rates. There may be different variations or types of the Kansas Assignment of Production Payment Measured by Value Received, depending on the specific circumstances and preferences of the parties involved. These variations might include provisions related to overriding royalty interests, carve-outs for specific expenses, or clauses determining the assignee's responsibilities regarding maintenance or improvements to the assigned property. In conclusion, the Kansas Assignment of Production Payment Measured by Value Received is a crucial agreement in the oil and gas industry. It enables the assignment of production payment rights, measured by the value received, to another party. By understanding the specifics of this assignment, parties can effectively negotiate and protect their interests in Kansas mineral production.
Kansas Assignment of Production Payment Measured by Value Received
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