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 ).
Delaware Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form refers to a legal document that allows the transfer of overriding royalty interests (ORI's) in multiple leases without any proportionate reduction. This type of assignment agreement is commonly used in the oil and gas industry to facilitate the transfer of ORI's held by the assignor to the assignee without affecting the proportional distribution of royalties among the leases. Keywords: Delaware, assignment, overriding royalty interest, multiple leases, no proportionate reduction, long form. Different types of Delaware Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may include: 1. Individual Lease Assignments: This type of assignment involves the transfer of overriding royalty interest from the assignor to the assignee for a single lease, without any reduction in the proportionate distribution of royalties among the parcels within that specific lease. 2. Multiple Lease Assignments: In this case, the assignment agreement covers the transfer of overriding royalty interests in multiple leases owned by the assignor. The agreement ensures that the assignee receives the ORI's without any proportionate reduction in the royalty distribution across the various leases. 3. Long-Term Assignments: These types of assignments extend the duration of the overriding royalty interest transfer beyond the traditional short-term assignment agreements. Long-term assignments typically encompass a more extended period, providing both parties more security and flexibility in their royalty interests. 4. Specific Industry Assignments: This type of assignment may be tailored to a particular industry, such as oil and gas, where ORI's are commonly traded. The agreement may include specific terms and conditions relevant to the industry, ensuring proper transfer of interests and compliance with industry regulations. 5. Corporate Assignments: Corporate assignments involve the transfer of overriding royalty interests between two corporate entities. This type of assignment may involve additional provisions to address corporate governance structures and approval processes for the transfer of interests. In conclusion, the Delaware Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document that facilitates the transfer of ORI's for multiple leases without proportionate reduction. Different types of assignments may include individual or multiple lease assignments, long-term agreements, specific industry-related assignments, and corporate assignments.
