Phoenix Arizona Assignment of Production Payment Measured by Value Received

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• City: Phoenix
• Control #: US-OG-294
• Format: Word; Rich Text

Description

This form is used when Assignor transfers, assigns, and conveys to Assignee a production payment measureed by value. A Phoenix Arizona Assignment of Production Payment Measured by Value Received is a legal document that allows a party to assign their rights to receive future production payments to another entity. This type of assignment is commonly used in the oil and gas industry, where production payments are received as a form of compensation for the extraction and production of natural resources. The assignment is measured by the value received, which means that the assigned party will receive a portion of the production payments proportional to the value of the resources extracted. This ensures a fair distribution of the payment based on the actual revenue generated. There are different types of Phoenix Arizona Assignment of Production Payment Measured by Value Received, depending on the specific terms and conditions set forth by the parties involved. Some common variations include: 1. Absolute assignment: This type of assignment involves the complete transfer of the assignor's rights to the assignee, who will then assume full responsibility for the collection of production payments. 2. Partial assignment: In this case, only a portion of the assignor's rights are transferred to the assignee. The assignor may retain some control over the payment collection process or may continue to receive a percentage of the production payments. 3. Limited assignment: This type of assignment is often used when the assignor wants to assign their production payment rights for a specific period or a limited number of payments, rather than the entire duration of the agreement. This provides flexibility for the assignor and allows for potential changes in their circumstances. 4. Non-recourse assignment: In a non-recourse assignment, the assignee assumes the risk of non-payment. If the production payments are not received as expected, the assignor is not held liable for any shortfall. It is important to draft an Assignment of Production Payment Measured by Value Received carefully to ensure that all essential terms and conditions are clearly outlined. This includes details such as the assignor's and assignee's names and contact information, the effective date of the assignment, the specific production payment rights being assigned, any limitations or restrictions, and any additional clauses for dispute resolution or termination. Overall, a Phoenix Arizona Assignment of Production Payment Measured by Value Received is a crucial legal document in the oil and gas industry that facilitates the transfer of production payment rights from one party to another, ensuring a fair and equitable distribution of compensation.

A Phoenix Arizona Assignment of Production Payment Measured by Value Received is a legal document that allows a party to assign their rights to receive future production payments to another entity. This type of assignment is commonly used in the oil and gas industry, where production payments are received as a form of compensation for the extraction and production of natural resources. The assignment is measured by the value received, which means that the assigned party will receive a portion of the production payments proportional to the value of the resources extracted. This ensures a fair distribution of the payment based on the actual revenue generated. There are different types of Phoenix Arizona Assignment of Production Payment Measured by Value Received, depending on the specific terms and conditions set forth by the parties involved. Some common variations include: 1. Absolute assignment: This type of assignment involves the complete transfer of the assignor's rights to the assignee, who will then assume full responsibility for the collection of production payments. 2. Partial assignment: In this case, only a portion of the assignor's rights are transferred to the assignee. The assignor may retain some control over the payment collection process or may continue to receive a percentage of the production payments. 3. Limited assignment: This type of assignment is often used when the assignor wants to assign their production payment rights for a specific period or a limited number of payments, rather than the entire duration of the agreement. This provides flexibility for the assignor and allows for potential changes in their circumstances. 4. Non-recourse assignment: In a non-recourse assignment, the assignee assumes the risk of non-payment. If the production payments are not received as expected, the assignor is not held liable for any shortfall. It is important to draft an Assignment of Production Payment Measured by Value Received carefully to ensure that all essential terms and conditions are clearly outlined. This includes details such as the assignor's and assignee's names and contact information, the effective date of the assignment, the specific production payment rights being assigned, any limitations or restrictions, and any additional clauses for dispute resolution or termination. Overall, a Phoenix Arizona Assignment of Production Payment Measured by Value Received is a crucial legal document in the oil and gas industry that facilitates the transfer of production payment rights from one party to another, ensuring a fair and equitable distribution of compensation.