Royalty Trust definition

Royalty Trust means a statutory trust, business trust, limited liability company, partnership or other form of legal entity to which the Borrower or one or more of its Subsidiaries grants or conveys any term or perpetual overriding royalty interests, net profits interests or other similar interests in Oil and Gas Properties in exchange for units of beneficial interest or ownership interests in such trust or other entity, or for cash.

Royalty Trust means a statutory or business trust, the trustee of which is a financial institution not affiliated with the Borrower, to which the Borrower or one or more of its Restricted Subsidiaries conveys, or intends to convey, royalty interests, net profits interests, or other similar mineral interests in the production of hydrocarbons from properties to which no value was attributed in the then most recent determination of the Borrowing Base, in exchange for units of beneficial interests in the trust and all or part of the cash proceeds of an underwritten public offering or a similar offering under Rule 144A of the trust’s units. For the avoidance of doubt, XxxxXxxxx Mississippian Trust I, XxxxXxxxx Mississippian Trust II and XxxxXxxxx Permian Trust shall each constitute a Royalty Trust.

Royalty Trust means an oil or gas company spins off property to its shareholders, which means it will not be taxed at the corporate level and will offer high returns to stockholders.

Examples of Royalty Trust in a sentence

• Hooper, Senior Vice President and Trust Administrator Bank of America, N.A. A signed original of this written statement required by Section 906 has been provided to Permian Basin Royalty Trust and will be retained by Permian Basin Royalty Trust and furnished to the Securities and Exchange Commission or its staff upon request.

• The accompanying financial statements of North European Oil Royalty Trust (the “Trust”) are prepared in accordance with the rules and regulations of the SEC.Financial statement balances and financial results are presented on a modified cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States (“GAAP basis”).

• Tidelands Royalty Trust “B” (the “Trust”) was established on June 1, 1954 with a transfer of contract rights to certain properties to the Trust in exchange for units of beneficial interest.

• Hooper, SVP Royalty Trust Management Simmons Bank A signed original of this written statement required by Section 906 has been provided to Permian Basin Royalty Trust and will be retained by Permian Basin Royalty Trust and furnished to the Securities and Exchange Commission or its staff upon request.

• Hooper, Senior Vice President, Royalty Management Bank of America, N.A. A signed original of this written statement required by Section 906 has been provided to Williams Coal Seam Gas Royalty Trust and will be retained by Williams Coal Seam Gas Royalty Trust and furnished to the Securities and Exchange Commission or its staff upon request.

More Definitions of Royalty Trust

Royalty Trust means a statutory or business trust, the trustee of which is a financial institution not affiliated with the Borrower, to which the Borrower or one or more of its Restricted Subsidiaries conveys, or intends to convey, royalty interests, net profits interests, or other similar mineral interests in the production of hydrocarbons from properties to which no value was attributed in the then most recent determination of the Borrowing Base, in exchange for units of beneficial interests in the trust and all or part of the cash proceeds of an underwritten public offering or a similar offering under Rule 144A of the trust’s units. For the avoidance of doubt, SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust shall each constitute a Royalty Trust.

Royalty Trust means equity investments that generate an income stream for investors; these primarily include natural resource assets, and pharmaceuticals and medical devices.

Royalty Trust means a statutory trust, business trust, limited liability company, partnership or other form of

Royalty Trust means a mutual fund trust which, by virtue of the fact that since its inception, all or substantially all of its property consists of oil and gas, mineral resource royalties or other non-taxable Canadian property, would be entitled to rely on the Subsection 132(7) Exception;

Royalty Trust means a mutual fund trust which, by virtue of the fact that all or substantially all of its property consists of oil and gas or mineral resource royalties, would be entitled to rely on the exception in paragraph (a) of subsection 132(7) of the Tax Act, such that it would not be subject to the Non-Resident Ownership Restriction, as described under “Special Meeting Business — Royalty Reorganization”;

Royalty Trust as it appears in Section 8.01(l) of the Loan Agreement is deleted and the term "Texas Permian Royalty Trust" is substituted therefor.

Royalty Trust means a statutory or business trust, the trustee of which is a financial institution not affiliated with the Borrower, to which the Borrower or one or more of its Subsidiaries conveys, or intends to convey, royalty interests, net profits interests, or other similar mineral interests in the production of hydrocarbons from properties to which no value was attributed in the then most recent determination of the Borrowing Base, in exchange for units of beneficial interests in the trust and all or part of the cash proceeds of an underwritten public offering or a similar offering under Rule 144A of the trust’s units. For the avoidance of doubt, XxxxXxxxx Mississippian Trust I shall constitute a Royalty Trust.