Assertion: overriding royalty | /r/HasProperty | convertible
Facets:
value: at the company’s election
type: TEMPORAL
Source sentences:
text: In such a circumstance, the company will typically retain an overriding royalty; however, this overriding royalty may also be convertible, at the company’s election, to a participating working interest upon “payout” (i.e. achieving profitability) of any well drilled on the property.