Mississippi Assignment of Oil and Gas Leases when Producing with Reservation of Production Payment is a legal arrangement that involves the transfer or assignment of rights to oil and gas leases while still allowing the assignor to retain a specified share of the production revenues. This type of assignment provides an assignor with a reserved right to receive regular payments or a portion of the profits generated from the lease's production activities. When it comes to different types of Mississippi Assignment of Oil and Gas Leases when Producing with Reservation of Production Payment, there are several key variations. These include: 1. Standard Assignment with Production Payment Reservation: In this type of assignment, an assignor transfers the primary rights to the oil and gas lease while reserving a specific percentage of the production revenues. 2. Fixed-term Assignment with Production Payment Reservation: This variation involves the transfer of lease rights with a reservation of production payment for a fixed period. The assignor retains the right to receive payment for a specified duration, following which full rights may be transferred to the assignee. 3. Percentage-of-Profit Assignment with Production Payment Reservation: This form of assignment allows the assignor to retain a predetermined percentage of the net profits generated from the lease's production activities. The assignor receives payment based on the profits earned by the assignee. 4. Production Payment Assignment with Diversionary Interest: In this type of assignment, the assignor retains a production payment for a predetermined period, after which the rights revert to the assignor. The assignee can receive the assigned production payment until the diversionary interest occurs. It is important to note that the specific terms and conditions of a Mississippi Assignment of Oil and Gas Leases when Producing with Reservation of Production Payment can vary depending on the agreement between the assignor and assignee. Legal advice and professional expertise are essential for drafting and understanding the intricacies of such assignments to protect the interests of involved parties.