This form is used when an Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all oil, gas, and other minerals produced, saved, and marketed from the Lands and Leases equal to a percentage of 8/8 (the Override ).
The Virgin Islands Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document that outlines the transfer of an overriding royalty interest from one party to another in relation to multiple leases in the Virgin Islands. This assignment ensures that the newly assigned party will receive a share of the royalty payments generated from the leases without any proportionate reduction. This type of assignment is commonly used in the oil and gas industry, where multiple leases are often involved in the exploration and production of natural resources in the Virgin Islands. The assignment is a way to transfer the right to receive a portion of the royalties from these leases, which can be a significant source of income for the assignee. The long form of this assignment provides a detailed and comprehensive description of the terms and conditions of the transfer, including the effective date, the specific leases involved, and the percentage or fraction of the overriding royalty interest being assigned. It also includes provisions regarding the assignee's rights and obligations, as well as any restrictions or limitations on the assignment. Keywords: Virgin Islands, Assignment of Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, transfer, royalty payments, oil and gas industry, exploration, production, natural resources, effective date, terms and conditions, assignee's rights, obligations, restrictions, limitations. Different types of Virgin Islands Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may include variations in terms of the specific leases involved, the percentage or fraction of the overriding royalty interest being assigned, and any additional provisions or clauses tailored to the unique circumstances of the transaction. However, the basic purpose and framework of the assignment remain the same.The Virgin Islands Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document that outlines the transfer of an overriding royalty interest from one party to another in relation to multiple leases in the Virgin Islands. This assignment ensures that the newly assigned party will receive a share of the royalty payments generated from the leases without any proportionate reduction. This type of assignment is commonly used in the oil and gas industry, where multiple leases are often involved in the exploration and production of natural resources in the Virgin Islands. The assignment is a way to transfer the right to receive a portion of the royalties from these leases, which can be a significant source of income for the assignee. The long form of this assignment provides a detailed and comprehensive description of the terms and conditions of the transfer, including the effective date, the specific leases involved, and the percentage or fraction of the overriding royalty interest being assigned. It also includes provisions regarding the assignee's rights and obligations, as well as any restrictions or limitations on the assignment. Keywords: Virgin Islands, Assignment of Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, transfer, royalty payments, oil and gas industry, exploration, production, natural resources, effective date, terms and conditions, assignee's rights, obligations, restrictions, limitations. Different types of Virgin Islands Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may include variations in terms of the specific leases involved, the percentage or fraction of the overriding royalty interest being assigned, and any additional provisions or clauses tailored to the unique circumstances of the transaction. However, the basic purpose and framework of the assignment remain the same.
