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 ).
Phoenix, Arizona Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document used in the oil and gas industry. It allows an individual or entity to transfer their overriding royalty interest (ORRIS) rights to another party without reducing the proportionate share across multiple leases in the Phoenix, Arizona area. In Phoenix, Arizona, there are various types of Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form including: 1. Individual Assignment: This type of assignment is used when a single individual wants to transfer their ORRIS rights for multiple leases without reducing the proportionate share. It is typically used in situations where the owner wants to sell their interest or transfer it to another party. 2. Corporate Assignment: This type of assignment is used when a corporation or company wants to transfer their ORRIS rights for multiple leases without reducing the proportionate share. It is commonly used in mergers, acquisitions, or to consolidate ownership interests. 3. Partnership Assignment: This type of assignment is used when a partnership wants to transfer their ORRIS rights for multiple leases without reducing the proportionate share. It is often used in situations where the partnership is dissolved, and the partners want to divide their interests among themselves or transfer them to a new partner. The Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form document includes several key components. It starts with a preamble section, which identifies the parties involved in the assignment, the effective date, and the purpose of the agreement. The document then includes detailed sections outlining the rights and obligations of the assignor (the party transferring the ORRIS) and the assignee (the party receiving the ORRIS). It specifies the specific leases covered by the assignment, the proportionate share of the ORRIS, and any conditions or limitations on the assignment. Furthermore, the long form includes provisions for the assignment's duration, termination, and any potential disputes or conflicts that may arise. Both parties are required to sign the document, acknowledging their agreement to the terms and conditions outlined in the assignment. In conclusion, the Phoenix, Arizona Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a comprehensive legal document used to transfer ORRIS rights without reducing the proportionate share across multiple leases. It is utilized in various scenarios such as individual, corporate, or partnership assignments.Phoenix, Arizona Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document used in the oil and gas industry. It allows an individual or entity to transfer their overriding royalty interest (ORRIS) rights to another party without reducing the proportionate share across multiple leases in the Phoenix, Arizona area. In Phoenix, Arizona, there are various types of Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form including: 1. Individual Assignment: This type of assignment is used when a single individual wants to transfer their ORRIS rights for multiple leases without reducing the proportionate share. It is typically used in situations where the owner wants to sell their interest or transfer it to another party. 2. Corporate Assignment: This type of assignment is used when a corporation or company wants to transfer their ORRIS rights for multiple leases without reducing the proportionate share. It is commonly used in mergers, acquisitions, or to consolidate ownership interests. 3. Partnership Assignment: This type of assignment is used when a partnership wants to transfer their ORRIS rights for multiple leases without reducing the proportionate share. It is often used in situations where the partnership is dissolved, and the partners want to divide their interests among themselves or transfer them to a new partner. The Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form document includes several key components. It starts with a preamble section, which identifies the parties involved in the assignment, the effective date, and the purpose of the agreement. The document then includes detailed sections outlining the rights and obligations of the assignor (the party transferring the ORRIS) and the assignee (the party receiving the ORRIS). It specifies the specific leases covered by the assignment, the proportionate share of the ORRIS, and any conditions or limitations on the assignment. Furthermore, the long form includes provisions for the assignment's duration, termination, and any potential disputes or conflicts that may arise. Both parties are required to sign the document, acknowledging their agreement to the terms and conditions outlined in the assignment. In conclusion, the Phoenix, Arizona Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a comprehensive legal document used to transfer ORRIS rights without reducing the proportionate share across multiple leases. It is utilized in various scenarios such as individual, corporate, or partnership assignments.
