Item 1. Legal Proceedings
ITEM 1. Legal Proceedings
There are no legal proceedings to which the Trust is a named party. However, the Trustee has been advised by Chesapeake that the Trust may from time to time be subject to litigation in the ordinary course of business for certain matters that include the Royalty Interests. While Chesapeake has advised the Trustee that it does not presently believe any pending litigation will have a material adverse effect net to the Trust, in the event such matters are adjudicated or settled in a material amount and charges are made against royalty income, such charges could have a material impact on the Trust's future royalty income.
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