Separate Interest. Notwithstanding any provision to the contrary in Article IV, effective on the effective date of any Transfer of any Subject Interest made in full compliance with Section 11.01(a), Assignee Minerals and Assignee Proceeds shall thereafter be computed separately with respect to such Subject Interests, and the assignee, buyer, transferee or grantee of such Subject Interests shall thereafter serve as Assignee’s agent and representative under Article IV with respect to such interests and shall pay all corresponding Assignee Proceeds directly to Assignee.
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Sources: Term Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II), Perpetual Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II), Term Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II)