Royalty owner definition

Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the extent that the owner is not an operator as defined in subsection (17) of this section;

Royalty owner means an owner of what is commonly known as the royalty interest and shall not include the owner of any overriding royalty or other payment carved out of the working interest.

Royalty owner means an owner of what is commonly known as the royalty interest

Examples of Royalty owner in a sentence

• If interests in the Royalty are at any time owned by more than one person, such owners will, as a condition of receiving payment hereunder, nominate one person to act as agent for receipt of monies payable hereunder and to otherwise deal with SDCI in respect of all such interests and no Royalty owner will be entitled to administer or enforce any provisions of this Agreement except through such agent.

• If the interests of the Holder under this Agreement are at any time owned by more than one Person, those owners must, as a condition of receiving payment under this Agreement, nominate in writing one Person to act as agent and common trustee for receipt of monies payable under this Agreement and to otherwise deal with the Owner in respect of such interests and no Royalty owner will be entitled to administer or enforce any provisions of this Agreement except through such agent and trustee.

More Definitions of Royalty owner

Royalty owner means a person or entity entitled to receive periodic royalty payments for a nonworking interest in the production of oil or gas.

Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the

Royalty owner means the owner of a royalty

Royalty owner means any owner of oil and gas in place,

Royalty owner means any owner of an interest in an oil and gas lease that entitles him to share in the production of the oil and gas under the lease.

Royalty owner means the person who pursuant to a lease arrangement with another has the right to receive, free of costs, an allocation of production or payments based upon the value of production.

Royalty owner means any owner of gas or oil in place, or owner of gas or oil rights, who is