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.
Dallas Texas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form In Dallas, Texas, an Assignment of Overriding Royalty Interest (ORRIS) is a critical legal document that facilitates the transfer of a portion of the royalty interest to another party, called the assignee. This document holds specific significance when the assignor reserves the right to pool the assigned interest, ensuring their ability to combine or consolidate the ORRIS with other interests in the future. The Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form serves as a concise version of the document, ensuring clarity and ease of understanding for all parties involved. This short form acts as a summation, outlining the key details and provisions necessary for a smooth transfer and potential pooling. Keywords: 1. Dallas, Texas: Refers to the geographical location where this particular assignment takes place, highlighting the regional relevance. 2. Assignment: The legal act of transferring ownership or interests from one party (assignor) to another (assignee). 3. Overriding Royalty Interest (ORRIS): Pertains to a share of the revenue generated from the production of minerals and hydrocarbons, often obtained by a party unrelated to the owner of the underlying mineral rights. 4. Assignor: The party who grants or transfers the ORRIS to another party. 5. Reserves the Right: Signifies that the assignor retains the option or privilege to perform a specific action in the future, in this case, pooling the assigned interest. 6. Pooling: The process of combining or consolidating mineral interests from multiple properties or leasehold areas to maximize efficiency and profitability in exploration and production activities. 7. Short Form: A condensed version of the legal document that presents key information in a concise and easily understandable manner. Different types of Dallas Texas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include variations based on additional clauses, different assignors, or unique contractual agreements. These variations may involve specific considerations for pooling conditions, other overriding royalty owners involved, or limitations on the assignor's right to pool.Dallas Texas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form In Dallas, Texas, an Assignment of Overriding Royalty Interest (ORRIS) is a critical legal document that facilitates the transfer of a portion of the royalty interest to another party, called the assignee. This document holds specific significance when the assignor reserves the right to pool the assigned interest, ensuring their ability to combine or consolidate the ORRIS with other interests in the future. The Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form serves as a concise version of the document, ensuring clarity and ease of understanding for all parties involved. This short form acts as a summation, outlining the key details and provisions necessary for a smooth transfer and potential pooling. Keywords: 1. Dallas, Texas: Refers to the geographical location where this particular assignment takes place, highlighting the regional relevance. 2. Assignment: The legal act of transferring ownership or interests from one party (assignor) to another (assignee). 3. Overriding Royalty Interest (ORRIS): Pertains to a share of the revenue generated from the production of minerals and hydrocarbons, often obtained by a party unrelated to the owner of the underlying mineral rights. 4. Assignor: The party who grants or transfers the ORRIS to another party. 5. Reserves the Right: Signifies that the assignor retains the option or privilege to perform a specific action in the future, in this case, pooling the assigned interest. 6. Pooling: The process of combining or consolidating mineral interests from multiple properties or leasehold areas to maximize efficiency and profitability in exploration and production activities. 7. Short Form: A condensed version of the legal document that presents key information in a concise and easily understandable manner. Different types of Dallas Texas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include variations based on additional clauses, different assignors, or unique contractual agreements. These variations may involve specific considerations for pooling conditions, other overriding royalty owners involved, or limitations on the assignor's right to pool.
