This form is used when, as a result of continuous production from the Lease and Lands, payout, as defined in an Assignment, has occurred, and Declarant is entitled to elect to convert the Override to a Working Interest, as provided for in the Assignment.
The Fulton Georgia Declaration of Election to Convert Overriding Royalty Interest to Working Interest is a legal document that pertains to the conversion of overriding royalty interest (ORRIS) into working interest (WI) in the county of Fulton, Georgia. This declaration outlines the terms and conditions under which an individual or entity can exercise their right to convert their ORRIS to WI. Keywords: Fulton Georgia, Declaration of Election, Convert, Overriding Royalty Interest, Working Interest, legal document, terms and conditions, county Types of Fulton Georgia Declaration of Election to Convert Overriding Royalty Interest to Working Interest: 1. Individual Declaration: This type of declaration is utilized when an individual possesses overriding royalty interest (ORRIS) and wishes to exercise their right to convert it into working interest (WI). The declaration would include specific details of the individual, the extent of their ORRIS, and the terms under which the conversion is to be made. 2. Corporate Declaration: In situations where a corporation or business entity holds overriding royalty interest (ORRIS) in Fulton, Georgia, this type of declaration comes into effect. It outlines the company's intention to convert the ORRIS to working interest (WI) and includes relevant details such as the company's legal name, identification number, and any additional provisions specific to their organizational structure or compliance requirements. 3. Partnership Declaration: Partnerships operating in Fulton, Georgia, may choose to convert their overriding royalty interest (ORRIS) to working interest (WI) through this type of declaration. In addition to standard details about the partnership, the declaration would outline the proportionate interests of each partner, the distribution of costs, expenses, and revenues associated with the conversion. 4. Joint Venture Declaration: A joint venture involving multiple parties seeking to convert their overriding royalty interest (ORRIS) to working interest (WI) would require this declaration. It would include comprehensive information about each party involved, their respective interests, and the terms of cooperation and contribution to the conversion process. 5. Trust Declaration: In cases where a trust holds overriding royalty interest (ORRIS) in Fulton, Georgia, this type of declaration is utilized. It would identify the trustee and beneficiaries, outline their respective interests, and provide details on how the conversion to working interest (WI) aligns with the trust's objectives and beneficiaries' rights. These various types of declarations cater to the specific circumstances and legal structures of the individuals or entities seeking to convert their overriding royalty interest to working interest in Fulton, Georgia.The Fulton Georgia Declaration of Election to Convert Overriding Royalty Interest to Working Interest is a legal document that pertains to the conversion of overriding royalty interest (ORRIS) into working interest (WI) in the county of Fulton, Georgia. This declaration outlines the terms and conditions under which an individual or entity can exercise their right to convert their ORRIS to WI. Keywords: Fulton Georgia, Declaration of Election, Convert, Overriding Royalty Interest, Working Interest, legal document, terms and conditions, county Types of Fulton Georgia Declaration of Election to Convert Overriding Royalty Interest to Working Interest: 1. Individual Declaration: This type of declaration is utilized when an individual possesses overriding royalty interest (ORRIS) and wishes to exercise their right to convert it into working interest (WI). The declaration would include specific details of the individual, the extent of their ORRIS, and the terms under which the conversion is to be made. 2. Corporate Declaration: In situations where a corporation or business entity holds overriding royalty interest (ORRIS) in Fulton, Georgia, this type of declaration comes into effect. It outlines the company's intention to convert the ORRIS to working interest (WI) and includes relevant details such as the company's legal name, identification number, and any additional provisions specific to their organizational structure or compliance requirements. 3. Partnership Declaration: Partnerships operating in Fulton, Georgia, may choose to convert their overriding royalty interest (ORRIS) to working interest (WI) through this type of declaration. In addition to standard details about the partnership, the declaration would outline the proportionate interests of each partner, the distribution of costs, expenses, and revenues associated with the conversion. 4. Joint Venture Declaration: A joint venture involving multiple parties seeking to convert their overriding royalty interest (ORRIS) to working interest (WI) would require this declaration. It would include comprehensive information about each party involved, their respective interests, and the terms of cooperation and contribution to the conversion process. 5. Trust Declaration: In cases where a trust holds overriding royalty interest (ORRIS) in Fulton, Georgia, this type of declaration is utilized. It would identify the trustee and beneficiaries, outline their respective interests, and provide details on how the conversion to working interest (WI) aligns with the trust's objectives and beneficiaries' rights. These various types of declarations cater to the specific circumstances and legal structures of the individuals or entities seeking to convert their overriding royalty interest to working interest in Fulton, Georgia.
