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term:
Overriding Royalty
overriding royalty n
: an interest in and royalty on the oil, gas, or minerals extracted from another’s land that is carved out of the producer’s working interest and is not tied to production costs compare royalty
Source: Merriam-Webster’s Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.