term overriding royalty
- term overriding royalty
Under Title 11 U.S.C. Section 101:(56A) The term "term overriding royalty" means 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 value realized.
United Glossary of Bankruptcy Terms 2012.
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