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 ).
Utah Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form is a legal document used in the state of Utah to transfer the rights and interests of an overriding royalty from one party to another party. This type of assignment is specifically designed for situations where there are multiple leases involved and no proportionate reduction is required. It provides a comprehensive and detailed framework for the transfer of overriding royalty interests, ensuring clarity and legal enforceability. The purpose of this assignment is to allow the assignor to convey their overriding royalty interest in multiple leases to the assignee, without any reduction in the proportionate share of each lease. This ensures that the assignee receives the full benefit of the overriding royalty interests. The assignment document includes various key elements, such as the identification of the assignor and assignee, a detailed description of the overriding royalty interests being transferred, the specific lease or leases involved, and any applicable terms and conditions. It also typically contains provisions for the acknowledgment and acceptance of the assignment by both parties, and a section for any necessary exhibits or schedules. Different variants or types of Utah Assignment of Overriding Royalty Interest for Multiple Leases with No Proportionate Reduction — Long Form may include variations in terms and conditions, specific provisions for royalty payments, or additional clauses tailored to unique circumstances. These variations could be designed to accommodate specific scenarios or address specific concerns of the parties involved. Overall, this type of assignment is crucial for ensuring the proper transfer and documentation of overriding royalty interests in multiple leases without any proportionate reduction. It provides a legally binding framework and promotes transparency and clarity between the assignor and assignee.
