Common use of Overriding Royalty Interests Clause in Contracts

Overriding Royalty Interests. ELM RIDGE and PROVIDENCE acknowledge that there are overriding royalty interests due certain contributors to this prospect. These parties and their respective overriding royalty interests are set forth in Exhibit “D,” which is attached hereto and made a part of this agreement. These overriding royalties will be assigned and filed of record prior to the first drilling of the first test well. Each working interest owner in the Leases, including interests owned by Global Mineral Solutions, L.P., will bear its pro rata part of each of these overriding royalty interests.