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 ).
Connecticut Assignment of Overriding Royalty Interest (ARI) for Multiple Leases with No Proportionate Reduction — Long Form is a legal document used in the state of Connecticut to assign the rights to receive royalties from multiple leases to the assignee. This document is essential for parties involved in oil and gas exploration and production activities. The ARI is a beneficial interest in the gross production obtained from a particular leased property. It allows the assignee to receive a percentage of the proceeds generated from the production of oil or gas, without sharing the costs or responsibilities associated with the leases. In a situation where there are multiple leases involved, the Long Form of the Connecticut Assignment of Overriding Royalty Interest outlines the terms and conditions for assigning an ARI to the assignee. This document specifies that there will be no proportionate reduction in the assignee's ARI share, regardless of the number of leases assigned. Keywords: Connecticut, Assignment of Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, oil and gas exploration, production activities, legal document, rights, royalties, assignee, beneficial interest, gross production, assigned property, costs, responsibilities, terms and conditions, ARI share. Types of Connecticut Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form: 1. Standard Long Form: This is the general form used to assign overriding royalty interest for multiple leases in Connecticut without the need for a proportionate reduction. It outlines the essential terms and conditions for the assignment. 2. Customized Long Form: This type of long form is tailored to meet the specific requirements and agreements between the assignor and assignee. It allows for more flexibility in terms and conditions based on the parties' preferences and negotiations. 3. Enhanced Long Form: This version of the assignment document includes additional provisions and clauses to address specific complexities or unique scenarios related to the multiple lease assignments. It offers a more comprehensive and detailed approach to the assignment process.
