overriding royalty
noun
: 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
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“Overriding royalty.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/overriding%20royalty. Accessed 26 Nov. 2024.
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