One Payee. Assignor shall never be obligated to pay Assignee Proceeds to more than one Person. If more than one Person is ever entitled to receive payment of any part of Assignee Proceeds, Assignor may suspend payments of all Assignee Proceeds until the concurrent owners or claimants of the Royalty Interest or the right to receive payment of Assignee Proceeds appoint one Person in writing to receive all payments of Assignee Proceeds on their behalf. Assignor may thereafter conclusively rely upon the authority of that Person to receive payments of Assignee Proceeds and shall be under no further duty to inquire into the authority or performance of such Person.
Appears in 32 contracts
Samples: Term Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II), Term Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II), Term Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II)
