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 ).
Keywords: Phoenix Arizona, Assignment of Overriding Royalty Interest, Overriding Royalty Interest Owner, No Proportionate Reduction, types Detailed Description: Phoenix, Arizona is a vibrant city located in the southwestern United States, known for its warm weather, stunning desert landscapes, and a thriving community. It is one of the largest cities in the country and serves as the capital of Arizona. Apart from its cultural attractions, recreational activities, and economic opportunities, Phoenix is also renowned for its involvement in the energy industry. Within the realm of energy investments, an Assignment of Overriding Royalty Interest in an Overriding Royalty Interest Owner is a significant concept. This assignment involves the transfer of ownership and associated rights of an overriding royalty interest to another party. An overriding royalty interest is a share of the revenue generated from oil, gas, or mineral production, which is separate from the standard lease royalty interest. In the context of Phoenix, Arizona, where various energy projects and mineral exploration take place, the Assignment of Overriding Royalty Interest is a common occurrence. This assignment often occurs when the current Overriding Royalty Interest Owner, who holds the right to receive a portion of the revenue generated from the production, decides to transfer or sell their interest to another party. This could be driven by varying reasons such as financial considerations or a desire to streamline their investments. One important aspect of such assignments in Phoenix, Arizona is the presence of a provision known as "No Proportionate Reduction." This provision ensures that the assigned Overriding Royalty Interest remains intact without any reduction in the percentage or amount of revenue received, despite the occurrence of subsequent assignments. In simpler terms, it means that the assigned party will receive a consistent share of the revenue, unaffected by any changes in the ownership structure of the overriding royalty interest. Different types of Assignment of Overriding Royalty Interest exist in Phoenix, Arizona and beyond. These assignments may vary based on factors such as the specific energy project, mineral type, or contractual agreements. Common types include direct assignments, partial assignments, and assignments subject to conditions and reservations. Each type has its own nuances and implications, determining the extent of the transferee's rights and responsibilities. In conclusion, Phoenix, Arizona is a dynamic city that not only thrives in various industries but also plays a significant role in energy investments, including the Assignment of Overriding Royalty Interest. These assignments involve the transfer of ownership and rights related to overriding royalty interests, with the provision "No Proportionate Reduction" ensuring the consistent share of the assigned party. Phoenix's energy sector offers diverse types of assignments, providing opportunities for investors to take part in mineral production and gain a share in the revenue generated.Keywords: Phoenix Arizona, Assignment of Overriding Royalty Interest, Overriding Royalty Interest Owner, No Proportionate Reduction, types Detailed Description: Phoenix, Arizona is a vibrant city located in the southwestern United States, known for its warm weather, stunning desert landscapes, and a thriving community. It is one of the largest cities in the country and serves as the capital of Arizona. Apart from its cultural attractions, recreational activities, and economic opportunities, Phoenix is also renowned for its involvement in the energy industry. Within the realm of energy investments, an Assignment of Overriding Royalty Interest in an Overriding Royalty Interest Owner is a significant concept. This assignment involves the transfer of ownership and associated rights of an overriding royalty interest to another party. An overriding royalty interest is a share of the revenue generated from oil, gas, or mineral production, which is separate from the standard lease royalty interest. In the context of Phoenix, Arizona, where various energy projects and mineral exploration take place, the Assignment of Overriding Royalty Interest is a common occurrence. This assignment often occurs when the current Overriding Royalty Interest Owner, who holds the right to receive a portion of the revenue generated from the production, decides to transfer or sell their interest to another party. This could be driven by varying reasons such as financial considerations or a desire to streamline their investments. One important aspect of such assignments in Phoenix, Arizona is the presence of a provision known as "No Proportionate Reduction." This provision ensures that the assigned Overriding Royalty Interest remains intact without any reduction in the percentage or amount of revenue received, despite the occurrence of subsequent assignments. In simpler terms, it means that the assigned party will receive a consistent share of the revenue, unaffected by any changes in the ownership structure of the overriding royalty interest. Different types of Assignment of Overriding Royalty Interest exist in Phoenix, Arizona and beyond. These assignments may vary based on factors such as the specific energy project, mineral type, or contractual agreements. Common types include direct assignments, partial assignments, and assignments subject to conditions and reservations. Each type has its own nuances and implications, determining the extent of the transferee's rights and responsibilities. In conclusion, Phoenix, Arizona is a dynamic city that not only thrives in various industries but also plays a significant role in energy investments, including the Assignment of Overriding Royalty Interest. These assignments involve the transfer of ownership and rights related to overriding royalty interests, with the provision "No Proportionate Reduction" ensuring the consistent share of the assigned party. Phoenix's energy sector offers diverse types of assignments, providing opportunities for investors to take part in mineral production and gain a share in the revenue generated.
