The North Dakota Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems is a legal document used to transfer ownership and rights of gathering systems located in North Dakota. A gathering system refers to a network of pipelines, compressors, and related facilities used to collect and transport oil, gas, or other resources from various wells. This assignment and bill of sale is relevant in situations where there are multiple gathering systems involved, and the interests in these systems are undivided, meaning that they are shared or co-owned by multiple parties. The document outlines the terms and conditions under which the transfer of ownership will occur, including details about the parties involved, the consideration or purchase price, and any specific terms or restrictions. Keywords: 1. North Dakota: Refers to the specific state in the United States where the gathering systems are located. It signifies that the document pertains to the legal framework and regulations in North Dakota. 2. Assignment: Describes the act of transferring or assigning ownership rights from one party to another. In this case, it represents the transfer of gathering systems' ownership. 3. Bill of Sale: Refers to a legal document used to transfer ownership of a tangible asset, in this case, the gathering systems. It is an essential part of the transaction process, signifying the transfer of ownership rights. 4. Gathering Systems: Represents the infrastructure and facilities used to collect and transport oil, gas, or other resources from wells. It includes pipelines, compressors, separators, tanks, and related equipment. 5. Undivided Interests: Describes the shared or co-owned ownership rights in the gathering systems. Multiple parties may have undivided interests in the systems, and this document facilitates the transfer of those interests. Types of North Dakota Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems: While this description focuses on the general concept, there could be different variations or specific types of this assignment and bill of sale depending on factors such as the nature of the gathering systems, parties involved, or particular contractual arrangements. Examples of potential variations might include: 1. North Dakota Assignment and Bill of Sale of Natural Gas Gathering Systems for Undivided Interests in Multiple Gathering Systems. 2. North Dakota Assignment and Bill of Sale of Crude Oil Gathering Systems for Undivided Interests in Multiple Gathering Systems. 3. North Dakota Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Offshore Gathering Systems. 4. North Dakota Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Condensate Gathering Systems. These are just a few examples, and the specific types may differ depending on the circumstances and the nature of the gathering systems being transferred.
North Dakota Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems
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