This form is used when an 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 ), reserving the right to pool the assigned interest.
New Hampshire Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form: Explained In New Hampshire, an Assignment of Overriding Royalty Interest when the Assignor Reserves the Right to Pool the Assigned Interest refers to a legal document that allows the systematic transfer of overriding royalty interests from one party to another while still reserving the right to pool the assigned interest. This short form is commonly used for quick and concise documentation when parties want to expedite the process. Different variations of the New Hampshire Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include: 1. Individual to Entity: This refers to the assignment made by an individual to an entity, such as a corporation or limited liability company. It highlights the transfer of overriding royalty interests held by the individual to the entity while reserving the right to pool the assigned interest. 2. Entity to Entity: This type of assignment occurs between two entities. It involves the transfer of overriding royalty interests held by one entity to another entity while retaining the right to pool the assigned interest. 3. Entity to Individual: In this scenario, an entity assigns its overriding royalty interests to an individual while reserving the right to pool the assigned interest. This type of assignment is often seen when an entity wishes to divest itself from particular interests. Key Elements of a New Hampshire Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form: 1. Parties: The document should clearly identify the assignor (the party transferring the interest) and the assignee (the party receiving the interest). Their contact information, legal names, and any relevant identification numbers should be included. 2. Assignment Language: The document should outline the specific overriding royalty interests being assigned. It should mention any associated contracts or agreements, including lease agreements or pooling provisions. 3. Reservation of Rights: The assignor should explicitly state their reservation of the right to pool the assigned interest. This ensures they retain the ability to consolidate the assigned interests with other working interests in the future. 4. Consideration: The assignment document should clarify any consideration exchanged between the parties. This could include monetary payment, property, or any other agreed-upon consideration. 5. Effective Date and Signatures: The document should include an effective date from which the assignment becomes valid. It should be signed and acknowledged by both parties. 6. Legal Provisions: Finally, the assignment should contain applicable legal provisions and language required by the state of New Hampshire to ensure its validity and enforceability. It is important to note that this content provides a general understanding of a New Hampshire Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form. It is essential to consult with a qualified attorney to tailor this document to specific circumstances and address any additional legal requirements or considerations.
