overrides. The Overrides, upon execution and delivery by the parties thereto, (i) will legally and effectively convey perpetual overriding royalty interests in the hydrocarbon production of all of the Company’s and the Subsidiaries’ current and future interest in all of their then current Real Property, in the percentages and as otherwise described in such conveyances, in each of the respective jurisdictions in which such Real Property is located, and (ii) will provide legal descriptions of the Subject Lands (as defined in each of the Overrides) sufficient to satisfy all requirements relating to such descriptions in each of such jurisdictions.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Sonterra Resources, Inc.), Securities Purchase Agreement (Sonterra Resources, Inc.)