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 ).
There are several types of Wayne Michigan Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form. Here is a detailed description of what this document entails along with relevant keywords. 1. Wayne Michigan Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form: This legal document is typically used in the oil and gas industry and applies specifically to the jurisdiction of Wayne, Michigan. It involves the transfer of an overriding royalty interest (ORRIS) from one party to another, where the ORRIS represents a share in the revenue generated by the production of oil or gas. Keywords: Assignment, Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, Wayne Michigan, Oil and Gas Industry, Transfer, Revenue. 2. Overriding Royalty Interest: An overriding royalty interest refers to a royalty interest in oil and gas production that is created out of the working interest. It is often held by a party other than the mineral owner or the lessee and entitles the holder to a percentage of the proceeds from oil and gas sales. Keywords: Overriding Royalty Interest, Oil and Gas Production, Royalty Interest, Working Interest, Mineral Owner, Lessee, Oil Sales, Gas Sales, Proceeds. 3. Assignment of Overriding Royalty Interest: Assignment of overriding royalty interest involves the transfer of the ORRIS from the current owner to another party. This legal document ensures that the transfer is legally binding and protects the interests of all parties involved. Keywords: Assignment, Overriding Royalty Interest, Transfer, Legal Document, Binding, Interests, Parties Involved. 4. Multiple Leases with No Proportionate Reduction: This aspect of the long-form document specifies that the assignment of overriding royalty interest applies to multiple leases. It further states that there will be no proportionate reduction in the ORRIS share across these leases, ensuring that each lease maintains its intended percentage of proceeds. Keywords: Multiple Leases, No Proportionate Reduction, ORRIS Share, Percentage of Proceeds. 5. Long Form: The inclusion of "Long Form" in the document title indicates that this assignment is extensive and detailed, providing comprehensive information on the terms and conditions associated with the transfer of ORRIS. Keywords: Long Form, Extensive, Detailed, Terms and Conditions. In summary, the Wayne Michigan Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form facilitates the transfer of an overriding royalty interest from one party to another across multiple leases. It ensures a fair distribution of proceeds without any reduction in share, while also providing a comprehensive agreement with all the necessary terms and conditions.There are several types of Wayne Michigan Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form. Here is a detailed description of what this document entails along with relevant keywords. 1. Wayne Michigan Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form: This legal document is typically used in the oil and gas industry and applies specifically to the jurisdiction of Wayne, Michigan. It involves the transfer of an overriding royalty interest (ORRIS) from one party to another, where the ORRIS represents a share in the revenue generated by the production of oil or gas. Keywords: Assignment, Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, Wayne Michigan, Oil and Gas Industry, Transfer, Revenue. 2. Overriding Royalty Interest: An overriding royalty interest refers to a royalty interest in oil and gas production that is created out of the working interest. It is often held by a party other than the mineral owner or the lessee and entitles the holder to a percentage of the proceeds from oil and gas sales. Keywords: Overriding Royalty Interest, Oil and Gas Production, Royalty Interest, Working Interest, Mineral Owner, Lessee, Oil Sales, Gas Sales, Proceeds. 3. Assignment of Overriding Royalty Interest: Assignment of overriding royalty interest involves the transfer of the ORRIS from the current owner to another party. This legal document ensures that the transfer is legally binding and protects the interests of all parties involved. Keywords: Assignment, Overriding Royalty Interest, Transfer, Legal Document, Binding, Interests, Parties Involved. 4. Multiple Leases with No Proportionate Reduction: This aspect of the long-form document specifies that the assignment of overriding royalty interest applies to multiple leases. It further states that there will be no proportionate reduction in the ORRIS share across these leases, ensuring that each lease maintains its intended percentage of proceeds. Keywords: Multiple Leases, No Proportionate Reduction, ORRIS Share, Percentage of Proceeds. 5. Long Form: The inclusion of "Long Form" in the document title indicates that this assignment is extensive and detailed, providing comprehensive information on the terms and conditions associated with the transfer of ORRIS. Keywords: Long Form, Extensive, Detailed, Terms and Conditions. In summary, the Wayne Michigan Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form facilitates the transfer of an overriding royalty interest from one party to another across multiple leases. It ensures a fair distribution of proceeds without any reduction in share, while also providing a comprehensive agreement with all the necessary terms and conditions.
