Overriding Royalty Interest Conveyance definition

Overriding Royalty Interest Conveyance means an assignment in the form of Exhibit "F" pursuant to which Borrower conveys to Lender an ORRI from time to time.

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Overriding Royalty Interest Conveyance means, collectively, assignments, in form and substance acceptable to Lender, pursuant to which Borrower grants in favor of Lender an overriding royalty interest equal to six and one-fourth percent (6.25%) of Hydrocarbons produced, saved and sold or used off the premises of the relevant Lease, attributable to the undivided interest of the Borrower constituting each Property, calculated and paid on the same basis as royalty payable to the United States Department of Interior, Minerals Management Service pursuant to applicable rules and regulations, such grants to be made on the Closing Date and of even date with the First Amendment, but applicable only as to production on and after the first day of the first calendar month following the Loan Termination Date.

Overriding Royalty Interest Conveyance means an assignment, in the form attached hereto as Exhibit F, pursuant to which Subsidiary Borrower grants to Lender a cost-free overriding royalty interest equal to a percentage determined pursuant to Section 8.5 of the Hydrocarbons and other minerals attributable to Subsidiary Borrower's Working Interest in the Properties, such grant to be made if and when required by Section 8.4.

Examples of Overriding Royalty Interest Conveyance in a sentence

Any prepayments shall have no effect on the Net Profits Overriding Royalty Interest Conveyance granted to any Lender, or the rights of such Lender with respect to the Net Profits Overriding Royalty Interest.
The obligations of Borrower under the Net Profits Overriding Royalty Interest Conveyance will survive the termination of this Agreement and the release of the security interests.
Correction, Amendment and Ratification of Term Overriding Royalty Interest Conveyance (Kansas) (Development) dated effective as of January 1, 2012 by and among ▇▇▇▇▇▇▇▇▇ Energy, Inc., ▇▇▇▇▇▇▇▇▇ Exploration and Production, LLC, Mistmada Oil Company, Inc.
Amendment and Ratification of Term Overriding Royalty Interest Conveyance (Oklahoma) (Development) dated effective as of January 1, 2012 between ▇▇▇▇▇▇▇▇▇ Exploration and Production, LLC, as Assignor, and Mistmada Oil Company, Inc., as Assignee, recorded as set forth below and further amending item 15 above: Book 766, Page 83 in the office of the County Clerk of Alfalfa County, Oklahoma.
Amendment and Ratification of Perpetual Overriding Royalty Interest Conveyance (Oklahoma) (Development) dated effective as of January 1, 2012 between ▇▇▇▇▇▇▇▇▇ Exploration and Production, LLC, as Assignor, to ▇▇▇▇▇▇▇▇▇ Mississippian Trust II, as Assignee, recorded as set forth below and further amending item 12 above: Book 766, Page 75 in the office of the County Clerk of Alfalfa County, Oklahoma.
Amendment and Ratification of Perpetual Overriding Royalty Interest Conveyance (Oklahoma) (Development) dated effective as of January 1, 2012 between ▇▇▇▇▇▇▇▇▇ Exploration and Production, LLC, as Assignor, to ▇▇▇▇▇▇▇▇▇ Mississippian Trust II, as Assignee, recorded as set forth below and amending item 12 above: Book 763, Page 901 in the office of the County Clerk of Alfalfa County, Oklahoma.
CHK Exploration has executed and delivered to CHK Sub a Term Overriding Royalty Interest Conveyance dated , recorded on in of Washita County, Oklahoma (the “Conveyance”).
Amendment and Ratification of Term Overriding Royalty Interest Conveyance (Kansas) (Development) dated effective as of January 1, 2012 between ▇▇▇▇▇▇▇▇▇ Exploration and Production, LLC, as Assignor, and Mistmada Oil Company, Inc., as Assignee, recorded as set forth below and amending item 4 above: Book 127, Page 9 in the office of the Register of Deeds of Comanche County, Kansas.
Assignor and the Trustee have entered into that certain Perpetual Overriding Royalty Interest Conveyance (PUD) dated effective as of , 2010 (“Perpetual Conveyance” and together with the Term Conveyance collectively the “Conveyances”).
Assignor and Eastern Marketing Corporation, a wholly-owned subsidiary of Assignor (“Eastern Marketing Corporation”) have entered into that certain Term Overriding Royalty Interest Conveyance (PUD) dated effective as of July 7, 2010 (“Term Conveyance”).

More Definitions of Overriding Royalty Interest Conveyance

Overriding Royalty Interest Conveyance means a conveyance, in the form attached hereto as EXHIBIT I, whereby the Borrower assigns to the Lender the Overriding Royalty Interest.

Overriding Royalty Interest Conveyance means, collectively, the Amended and Restated Overriding Royalty Interest Conveyance and any other assignments and any amendment, restatement, replacement or extension thereof, in form and substance acceptable to Lender, pursuant to which Borrower grants in favor of Lender an overriding royalty interest in the Hydrocarbons produced, saved and sold or used off the premises of the relevant Lease, attributable to the undivided interest of the Borrower constituting each Property, calculated and paid on the same basis as royalty payable to the United States Department of Interior, Minerals Management Service pursuant to applicable rules and regulations but applicable only as to production on and after the applicable Commencement Date. The percentage ORRI granted in favor of Lender described in the preceding sentence shall initially equal six and one-fourth percent (6.25%) and shall be subject to reduction to three and one-eighth percent (3.125%) and further subject to termination, all in accordance with the terms specified in the Amended and Restated Overriding Royalty Interest Conveyance.