Common use of Overriding Royalty Interest Clause in Contracts

Overriding Royalty Interest. Upon the commencement of operations for the drilling of the initial well drilled pursuant to this Agreement on each Prospect in which Contango has elected or is obligated to participate, J▇▇ shall be entitled to an assignment or reservation of an overriding royalty interest equal to 2.5% of Contango’s net revenue interest in each Prospect, which overriding royalty interest shall be inclusive of and shall bear the sum of any and all other overriding royalty interests burdening Contango’s net revenue interest in such Prospect that were conveyed or required to be conveyed to other persons or entities who were employed by J▇▇ or engaged as consultants to J▇▇ to assist in J▇▇’▇ generation, screening, sourcing and/or acquisition of such Prospect (the “J▇▇ ▇▇▇▇”). An example calculation of the J▇▇ ▇▇▇▇ is set forth on Schedule 2.2 attached hereto.

Overriding Royalty Interest. Upon the commencement of operations for the drilling of the initial well drilled pursuant to this Agreement on each Prospect in which Contango has elected or is obligated to participate, JJEX ▇▇ shall ▇▇ll be entitled to an assignment or reservation of an overriding royalty interest equal to 2.5% of Contango’s 's net revenue interest in each Prospect, which overriding royalty interest shall be inclusive of and shall bear the sum of any and all other overriding royalty interests burdening Contango’s 's net revenue interest in such Prospect that were conveyed or required to be conveyed to other persons or entities who were employed by JJEX ▇▇ or engaged as consultants to JJEX ▇▇ to assist in JJEX'▇ ▇▇’▇ generation▇eration, screening, sourcing and/or acquisition of such Prospect (the “J▇▇ "JEX ▇▇▇▇”"). An example calculation of the J▇▇ JEX ▇▇▇▇ is ▇▇ set forth on Schedule 2.2 attached hereto.