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Even so, while term overriding royalty interests may appear to have many characteristics of a loan, they are generally characterized by state law as transfers of interests in real property that have a limited duration or amount.
Overriding Royalty Interest (ORRI) A royalty in excess of the royalty provided in the Oil Gas Lease. Usually, an override is added during an intervening assignment. ORRIs are created out of the working interest in a property and do not affect mineral owners.
The holders of the term ORRI interests moved for summary judgment on the characterization issue, arguing that as a matter of Louisiana state law, a term ORRI is an absolute conveyance of a real property interest.
A royalty interest is a non-possessory real property interest in oil and gas production free of production and operating expenses, which may be created by grant or by reservation or exception.
An Overriding Royalty Interest IORRI), commonly referred to as an override, is a fractional, undivided interest granting the right to receive proceeds from the sale of oil and gas. It is not an interest in the minerals themselves, but rather in the proceeds of the sale of oil and gas.
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Overriding Royalty Interest (ORRI) a percentage share of production, or the value derived from production, which is free of all costs of drilling and producing, and is created by the lessee or working interest owner and paid by the lessee or working interest owner.
An override provision allows for ongoing royalty payment on future albums, sometimes including those not produced by the original producer. This will ensure our man (or woman) gets at least something for his troubles.
An overriding royalty is an interest in an asset that provides rights of participation which allow the investor to enjoy a royalty that is above and beyond the basic royalty that he or she is entitled to as part of the compensation for the investment.
An overriding royalty is an interest in an asset that provides rights of participation which allow the investor to enjoy a royalty that is above and beyond the basic royalty that he or she is entitled to as part of the compensation for the investment.
The Bankruptcy Code defines a production payment as a type of term overriding royalty or an interest in liquid or gaseous hydrocarbons in place or to be produced from particular real property that entitles the owner thereof to a share of production, or the value thereof, for a term limited by time, quantity, or

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