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 ).
Nassau New York Assignment of Overriding Royalty Interest is a legal document that involves the transfer of an overriding royalty interest (ORRIS) by the current owner (assignor) to another party (assignee) without any proportionate reduction. This agreement governs the rights and interests pertaining to the overriding royalty interest in Nassau, New York. Nassau is a county located in the state of New York, known for its rich history, vibrant culture, and diverse population. The Assignment of Overriding Royalty Interest is a significant aspect of the oil and gas industry, specifically in relation to royalty rights and payments. In this assignment, the overriding royalty interest owner (assignor) agrees to transfer their interest to the assignee, allowing them to receive the specified percentage of revenue generated from the oil or gas production from the designated property located in Nassau, New York. It is important to note that the assignee will acquire this interest without any reduction in proportionate shares. There can be various types or variations of the Nassau New York Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction. Some of these may include: 1. Partial Assignment: This type of assignment involves transferring only a portion or a specific percentage of the overriding royalty interest to the assignee, while the assignor retains the remaining interest. 2. Temporary Assignment: In certain cases, the assignment may have a defined time period, after which the overriding royalty interest reverts to the assignor. 3. Perpetual Assignment: This type of assignment grants the assignee a permanent overriding royalty interest without any time limitation, ensuring a continuous flow of royalty payments. 4. Conditional Assignment: In some instances, the assignment may be subject to certain conditions or requirements, such as achieving a specific production threshold or meeting specific performance criteria. 5. Assignment by Lease: This assignment may be carried out through the execution of a lease agreement, outlining the terms and conditions of the overriding royalty interest transfer. 6. Assignment by Conveyance: This type of assignment is typically used when transferring the overriding royalty interest as part of a larger conveyance of property rights. The Nassau New York Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction is an essential legal instrument in the realm of oil and gas exploration, protecting the rights and interests of both the assignor and assignee. It enables the assignee to receive a specified share of revenue generated from oil or gas production activities taking place in Nassau, New York, without any reduction or dilution of their assigned interest.Nassau New York Assignment of Overriding Royalty Interest is a legal document that involves the transfer of an overriding royalty interest (ORRIS) by the current owner (assignor) to another party (assignee) without any proportionate reduction. This agreement governs the rights and interests pertaining to the overriding royalty interest in Nassau, New York. Nassau is a county located in the state of New York, known for its rich history, vibrant culture, and diverse population. The Assignment of Overriding Royalty Interest is a significant aspect of the oil and gas industry, specifically in relation to royalty rights and payments. In this assignment, the overriding royalty interest owner (assignor) agrees to transfer their interest to the assignee, allowing them to receive the specified percentage of revenue generated from the oil or gas production from the designated property located in Nassau, New York. It is important to note that the assignee will acquire this interest without any reduction in proportionate shares. There can be various types or variations of the Nassau New York Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction. Some of these may include: 1. Partial Assignment: This type of assignment involves transferring only a portion or a specific percentage of the overriding royalty interest to the assignee, while the assignor retains the remaining interest. 2. Temporary Assignment: In certain cases, the assignment may have a defined time period, after which the overriding royalty interest reverts to the assignor. 3. Perpetual Assignment: This type of assignment grants the assignee a permanent overriding royalty interest without any time limitation, ensuring a continuous flow of royalty payments. 4. Conditional Assignment: In some instances, the assignment may be subject to certain conditions or requirements, such as achieving a specific production threshold or meeting specific performance criteria. 5. Assignment by Lease: This assignment may be carried out through the execution of a lease agreement, outlining the terms and conditions of the overriding royalty interest transfer. 6. Assignment by Conveyance: This type of assignment is typically used when transferring the overriding royalty interest as part of a larger conveyance of property rights. The Nassau New York Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction is an essential legal instrument in the realm of oil and gas exploration, protecting the rights and interests of both the assignor and assignee. It enables the assignee to receive a specified share of revenue generated from oil or gas production activities taking place in Nassau, New York, without any reduction or dilution of their assigned interest.
