Common use of OVERRIDING ROYALTY Clause in Contracts

OVERRIDING ROYALTY. 2.1 There is hereby reserved to and owned by Grantee, an overriding royalty of five (5%) percent of the wellhead value on that portion of Petroleum Substances attributable to the interest of Grantor in the Royalty Lands (understood by Grantor to be as set out in Schedule "A" hereto) produced, saved and marketed from each well producing from the Royalty Lands each month during the term of the Title Documents.

OVERRIDING ROYALTY. 2.1 There is hereby reserved to and owned by Grantee, an overriding royalty of five (5%) percent of the wellhead value on that portion of Petroleum Substances attributable to the interest of Grantor in the Royalty Lands (understood by Grantor to be as set out in Schedule "A" hereto) produced, saved and marketed from each well producing from . (the Royalty Lands "Well") each month during the term of the Title Documents.