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 ).
Nebraska Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document that allows the transfer of overriding royalty interests from one party (assignor) to another party (assignee) in the state of Nebraska. This assignment type specifically addresses situations where there are multiple leases involved, and it ensures that no reduction in proportionate interest occurs during the transfer. In Nebraska, overriding royalty interests refer to a share of the production revenue generated from an oil or gas lease. These interests are created when a party, usually a landowner, grants a lease to an oil and gas company. The overriding royalty interest gives the holder a percentage share of the revenue derived from the lease, typically without any responsibility for the costs of drilling or operating the wells. This long-form assignment document is designed to handle multiple leases simultaneously, ensuring that the assignee acquires the overriding royalty interests associated with each lease without any reduction in their proportionate share. This means that even if there are different percentages of royalty interests attached to each lease, the assignee will receive the full percentage assigned to them in each lease without any adjustments. When executing this type of assignment, it is crucial to include relevant keywords to accurately describe the document. Some keywords that can be included are: — Nebraska: Referring to the specific state where the assignment is taking place. — Assignment: Highlighting the transfer of overriding royalty interests from one party to another. — Overriding Royalty Interest: Emphasizing the type of interest being assigned, which is a share of production revenue. — Multiple Leases: Denoting that this assignment covers more than one lease. — No Proportionate Reduction: Indicating that the assignee will receive the full percentage assigned to them in each lease without any adjustments. — Long Form: Specifying the detailed nature of the assignment document. Different types or variations of Nebraska Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may exist based on specific circumstances, parties involved, or additional terms and conditions. However, the core objective remains the same — to transfer overriding royalty interests without any reduction or adjustment in proportionate share for multiple leases.
