This form is used when Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ).
The Hawaii Assignment of Overriding Royalty Interest in Multiple Assignors is a legal document that pertains to the transfer of a portion of the royalty interest from multiple assignors to an assignee in the context of oil, gas, or mineral rights in Hawaii. The assignment provides a detailed framework for the assignors to convey their respective overriding royalty interests to the assignee in a clear and legally binding manner. Keywords: Hawaii, assignment, overriding royalty interest, multiple assignors, transfer, oil, gas, mineral rights, assignee, legal document, convey, framework. Different Types of Hawaii Assignment of Overriding Royalty Interest in Multiple Assignors: 1. Fixed Assignor Percentage: This type of assignment outlines a specific percentage of overriding royalty interest that each assignor is conveying to the assignee. The assignors would have predetermined percentages, and the agreement clarifies the royalty split among them. 2. Proportional Assignment: In this type, the assignment is based on the proportional interest of each assignor in the overall royalty interest. The agreement calculates and assigns the overriding royalty interest to the assignee based on the assignor's proportional share. 3. Variable Assignment: This type of assignment allows for assignors to transfer varying percentages of their overriding royalty interest to the assignee. The agreement can specify a range or a minimum and maximum percentage that each assignor can transfer. 4. Sequential Assignment: In certain situations, assignors might choose to assign their overriding royalty interests to the assignee sequentially, meaning one assignor transfers their interest first, followed by the subsequent assignors. The assignment agreement would capture the order and timing of each assignor's transfer. 5. Partial Assignment: This type of assignment enables assignors to transfer only a portion of their overriding royalty interest, as opposed to the entirety. The agreement would define the specific percentage or amount being transferred by each assignor. By understanding the different types of Hawaii Assignment of Overriding Royalty Interest in Multiple Assignors, parties involved can tailor the agreement according to their unique needs and circumstances while ensuring compliance with Hawaii's legal requirements.
