This form is used when an Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ), reserving the right to pool the assigned interest.
The Cook Illinois Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that outlines the specific conditions and terms of assigning an overriding royalty interest in the Cook Illinois area while the assignor reserves the right to pool the assigned interest. This type of assignment allows for the pooling of interests, which allows multiple parties to combine their separate interests into a single drilling unit. Keywords: Cook Illinois, Assignment, Overriding Royalty Interest, Assignor, Reserve, Pool, Short Form There are different types of Cook Illinois Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form, including: 1. Cook Illinois Assignment of Overriding Royalty Interest with Pooling Rights: This type of assignment allows the assignor to reserve the right to pool the assigned interest and combine it with other interests in the area for drilling purposes. 2. Cook Illinois Assignment of Overriding Royalty Interest with Restricted Pooling Rights: In this variation, the assignor reserves the right to pool the assigned interest, but with certain restrictions or limitations imposed by either party, such as specific drilling depths or timeframes. 3. Cook Illinois Assignment of Overriding Royalty Interest with Conditional Pooling Rights: This type of assignment allows the assignor to reserve the right to pool the assigned overriding royalty interest, but only under certain conditions or criteria outlined in the agreement. These conditions could include specific production thresholds or market conditions. 4. Cook Illinois Assignment of Overriding Royalty Interest with Partial Pooling Rights: This variation permits the assignor to pool only a portion of the assigned interest, while retaining the right to keep the remaining interest separate. Overall, the Cook Illinois Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form serves as a legally binding document that facilitates the assignment and pooling of overriding royalty interests in the Cook Illinois area. It outlines the specific rights, restrictions, and conditions applicable to the assignor and assignee regarding the pooling of their interests in efficient and coordinated drilling operations.The Cook Illinois Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that outlines the specific conditions and terms of assigning an overriding royalty interest in the Cook Illinois area while the assignor reserves the right to pool the assigned interest. This type of assignment allows for the pooling of interests, which allows multiple parties to combine their separate interests into a single drilling unit. Keywords: Cook Illinois, Assignment, Overriding Royalty Interest, Assignor, Reserve, Pool, Short Form There are different types of Cook Illinois Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form, including: 1. Cook Illinois Assignment of Overriding Royalty Interest with Pooling Rights: This type of assignment allows the assignor to reserve the right to pool the assigned interest and combine it with other interests in the area for drilling purposes. 2. Cook Illinois Assignment of Overriding Royalty Interest with Restricted Pooling Rights: In this variation, the assignor reserves the right to pool the assigned interest, but with certain restrictions or limitations imposed by either party, such as specific drilling depths or timeframes. 3. Cook Illinois Assignment of Overriding Royalty Interest with Conditional Pooling Rights: This type of assignment allows the assignor to reserve the right to pool the assigned overriding royalty interest, but only under certain conditions or criteria outlined in the agreement. These conditions could include specific production thresholds or market conditions. 4. Cook Illinois Assignment of Overriding Royalty Interest with Partial Pooling Rights: This variation permits the assignor to pool only a portion of the assigned interest, while retaining the right to keep the remaining interest separate. Overall, the Cook Illinois Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form serves as a legally binding document that facilitates the assignment and pooling of overriding royalty interests in the Cook Illinois area. It outlines the specific rights, restrictions, and conditions applicable to the assignor and assignee regarding the pooling of their interests in efficient and coordinated drilling operations.
