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 ).
Suffolk New York is a county located in the southeastern part of the state of New York. It is situated on Long Island and is the easternmost county in the state. Suffolk County is known for its beautiful beaches, vibrant communities, and rich history. An Assignment of Overriding Royalty Interest for Multiple Leases is a legal document that transfers the rights of an overriding royalty interest from one party to another. This type of assignment allows the assignee to benefit from the profits generated by multiple leases without any reduction in proportionate shares. The Long Form of the Suffolk New York Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction is a comprehensive and detailed version of the assignment document. It provides a thorough and complete explanation of the terms and conditions of the transfer, ensuring clarity and transparency between the parties involved. The Long Form assignment may contain various sections, such as: 1. Identification of the Parties: This section would include the names and addresses of the assignor (the party transferring the overriding royalty interest) and the assignee (the party receiving the interest). 2. Description of Leases: Here, the document would outline the specific leases or agreements from which the overriding royalty interest is being transferred. It may include details such as lease numbers, effective dates, and locations of the leased properties. 3. Transfer of Interest: This section would specify the exact overriding royalty interest being assigned, such as a percentage or fraction. It may also state whether the assignment includes any associated rights or benefits. 4. Consideration: This part would mention the compensation or consideration exchanged between the assignor and the assignee for the transfer of the overriding royalty interest. It could be a monetary amount, other assets, or a combination of both. 5. No Proportionate Reduction: One key feature of this type of assignment is that it ensures no reduction in proportionate shares. This section would explicitly state that the assignee will receive the full overriding royalty interest without any dilution or diminishment. 6. Governing Law and Jurisdiction: This clause specifies the applicable laws under which the assignment is governed and the jurisdiction where any disputes would be resolved. Some variations of Suffolk New York Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form might include additional sections or language tailored to meet specific needs or address unique circumstances. However, the core purpose of the document remains the same — to enforce the transfer of overriding royalty interest without any reduction in proportionate shares.Suffolk New York is a county located in the southeastern part of the state of New York. It is situated on Long Island and is the easternmost county in the state. Suffolk County is known for its beautiful beaches, vibrant communities, and rich history. An Assignment of Overriding Royalty Interest for Multiple Leases is a legal document that transfers the rights of an overriding royalty interest from one party to another. This type of assignment allows the assignee to benefit from the profits generated by multiple leases without any reduction in proportionate shares. The Long Form of the Suffolk New York Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction is a comprehensive and detailed version of the assignment document. It provides a thorough and complete explanation of the terms and conditions of the transfer, ensuring clarity and transparency between the parties involved. The Long Form assignment may contain various sections, such as: 1. Identification of the Parties: This section would include the names and addresses of the assignor (the party transferring the overriding royalty interest) and the assignee (the party receiving the interest). 2. Description of Leases: Here, the document would outline the specific leases or agreements from which the overriding royalty interest is being transferred. It may include details such as lease numbers, effective dates, and locations of the leased properties. 3. Transfer of Interest: This section would specify the exact overriding royalty interest being assigned, such as a percentage or fraction. It may also state whether the assignment includes any associated rights or benefits. 4. Consideration: This part would mention the compensation or consideration exchanged between the assignor and the assignee for the transfer of the overriding royalty interest. It could be a monetary amount, other assets, or a combination of both. 5. No Proportionate Reduction: One key feature of this type of assignment is that it ensures no reduction in proportionate shares. This section would explicitly state that the assignee will receive the full overriding royalty interest without any dilution or diminishment. 6. Governing Law and Jurisdiction: This clause specifies the applicable laws under which the assignment is governed and the jurisdiction where any disputes would be resolved. Some variations of Suffolk New York Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form might include additional sections or language tailored to meet specific needs or address unique circumstances. However, the core purpose of the document remains the same — to enforce the transfer of overriding royalty interest without any reduction in proportionate shares.
