The Wisconsin Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems is a legal document used in Wisconsin to transfer ownership or interests in gathering systems. Gathering systems refer to equipment, pipelines, and infrastructure used to collect and transport oil, gas, or other commodities from wellheads or production facilities to processing plants or transmission pipelines. This document is used when multiple parties own undivided interests in gathering systems and wish to assign or sell their interests to another party. It outlines the specifics of the transfer, including the details of the gathering systems involved, the extent of the interests being transferred, and the consideration or payment involved in the transaction. The Wisconsin Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems typically includes the following key sections: 1. Parties: Identify all parties involved in the assignment, including the assignor(s) (current owner(s)), the assignee(s) (new owner(s)), and any additional stakeholders. 2. Recitals: Provide a background and context for the transaction, including the legal basis for the assignment and the purpose of the document. 3. Definitions: Define key terms used throughout the document to ensure clarity and mutual understanding. 4. Description of Gathering Systems: Describe the gathering systems in detail, including their location, physical characteristics, and any relevant permits or licenses associated with them. 5. Assignment and Sale: State the intent of the assignor(s) to transfer their undivided interests in the gathering systems to the assignee(s) for a specified consideration or payment. 6. Title and Interest: Confirm that the assignor(s) have legal title and the authority to transfer the interests being assigned and sold, and that the assignee(s) will take ownership free and clear of any encumbrances or liens. 7. Representations and Warranties: Include statements and assurances made by both parties regarding the accuracy of the information provided and the lawful nature of the transaction. 8. Indemnification: Establish the responsibilities of each party for any claims, damages, or liabilities arising from the assignment and sale. 9. Governing Law and Jurisdiction: Determine the laws of Wisconsin that will govern the agreement and identify the jurisdiction where any disputes will be resolved. It is important to note that while this description covers the general components of a Wisconsin Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems, there may be specific variations or types of this document depending on the complexity of the transaction or unique circumstances involved.
Wisconsin Assignment and Bill of Sale of Gathering Systems for Undivided Interests in Multiple Gathering Systems
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