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 ).
Florida Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form A Florida Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction is a legal document used in the oil and gas industry to transfer overriding royalty interests (ORRIS) from one party to another. This long-form assignment is specifically designed for situations where multiple leases are involved, and no proportionate reduction of the ORRIS is required. Keywords: Florida, Assignment of Overriding Royalty Interest, Multiple Leases, No Proportionate Reduction, Long Form, Oil and Gas, Legal Document. Types of Florida Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form: 1. Basic Assignment Agreement: This type of assignment form outlines the transfer of ORRIS for multiple leases in Florida without requiring a proportionate reduction. It includes necessary provisions related to the parties involved, lease descriptions, and the rights being transferred. 2. Enhanced Assignment Agreement: The enhanced version of the Florida Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form includes additional clauses and provisions to provide more comprehensive protection and clarity for the parties involved. It may include details regarding title warranties, assignment warranties, and indemnification clauses. 3. Extended Assignment Agreement: In some cases, when dealing with complex lease arrangements or extensive ORRIS transfers, an extended assignment agreement may be required. This type of long-form assignment provides detailed schedules or exhibits that list each lease being assigned, along with specific terms and conditions for each lease. 4. Revocable Assignment Agreement: A revocable assignment agreement provides the assignor with the option to reclaim the assigned overriding royalty interest at a future date if certain conditions are met. This type of assignment can be useful in situations where the assignor wishes to retain some control or flexibility over the ORRIS transferred. 5. Irrevocable Assignment Agreement: Unlike the revocable assignment, an irrevocable assignment agreement permanently transfers the overriding royalty interest without any provisions for reclamation. This type of assignment is commonly used when a complete and permanent transfer of ORRIS is desired. These various types of Florida Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form allow parties involved in the oil and gas industry to effectively transfer ORRIS rights while maintaining legal clarity and protection. Each type offers specific provisions and conditions to cater to different situations and preferences. It is essential to consult with legal professionals to ensure the selected form aligns with the specific requirements and objectives of the parties involved.
