QEL definition

QEL means the quiet enjoyment letter in respect of the Ship between the Lessor and the Time Charterer;

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QEL means long term average effluent flow. "Qes" means short term average effluent flow. "Qu" means the regulatory receiving stream flow.

QEL means Quadra Egypt Limited, a subsidiary of Arsenal Resources Inc., a corporation headquartered in Calgary, Alberta;

Examples of QEL in a sentence

• This Amendment and Option (together with the Schedule and Exhibits hereto and all other agreements referred to herein or in said Exhibits) sets forth the entire agreement and understanding among the parties hereto as to the subject matter hereof and supercedes all agreements or understandings, verbal or written, made among Atugen, QBI, QEL and Pfizer before the date hereof with respect to the subject matter hereof.

• All intellectual property rights of Quark arising under the Atugen License have been and remain vested solely in QBI rather than QEL, which has been performing research and development services on behalf of QBI.

• Any such amounts paid or due to Atugen prior to termination of the Atugen License, or Quark and QEL no longer having license rights to the Autgen Existing IP or the Joint Program IP pursuant to the Atugen License, as applicable, shall not be subject to the provisions of Section 3.1, and Atugen shall have no claims against Pfizer regarding such amounts.

• The performance of all covenants and agreements contained in this Agreement and in the other documents executed or delivered as a part of this transaction and the payment of the notes and all renewals, amendments and modifications thereof shall continue to be secured under the following previously executed documents: (i) Amended and Restated Security Agreement, dated as of May 16, 2005 by and between Quest, Gwenco, QEL and ANC Group, Inc.

• Any assignment referred to in this Clause 24.1 shall be subject to the further condition that the assignee shall perform all the obligations of Charterer under this Charter from the effective date of the assignment and that such assignee shall execute the QEL agreeing to perform Charterer’s obligations thereunder.

• Except as may be otherwise agreed in the QEL between Owner, Lender and Charterer, and subject to the provisions of Article 4.9 herein, the existence of any Permitted Encumbrance shall in no way limit or restrict Charterer’s rights or obligations under this Charter and the holder or owner of any such Permitted Encumbrance shall be subject to Charterer’s rights under this Charter.

• Any (i) Encumbrance for liens or Claims arising by law in the ordinary course of business for debts or maritime claims not yet due, or (ii) any Encumbrance in favor of Owner’s lenders in connection with the financing of the FPSO or performance of Owner’s obligations under the Charter as will be specifically set out in the QEL.

• Within the time period set forth in Clause 3.9(x), Owner and Charterer shall negotiate and agree to the terms of and shall execute and deliver, the Quiet Enjoyment Letter and Estoppel (“QEL”), which QEL shall recognize and protect the interests of both the Lender (under any mortgage or other financing instrument in connection with the financing of the FPSO) and the Charterer’s rights under the Charter (provided that Charterer continues to pay Hire Rate as required by the terms of the Charter).

• The provisions of this Clause 17.8 shall be without prejudice to and subject to the Lender’s rights under the provisions of the QEL.

• Pursuant to the provisions and procedures set forth in Clause 4.9, on or before , Owner, Lender and Charterer shall execute and deliver a QEL, in form and substance satisfactory to each such Person.

More Definitions of QEL

QEL has the meaning ascribed to it in the Recitals.

QEL means QBI Enterprises Ltd.

QEL means the quiet enjoyment letter referred to in Clause 27 of the charter contract relating to Ship A specified in Schedule 8 (Details of Ships and other definitions) to be executed by the Security Agent in favour of any of the relevant Charterer in form and substance acceptable to the Facility Agent.

QEL means a quiet enjoyment letter issued by the Bond Trustee if required by a client under any Charter Contract, with a wording as reasonably requested by such third party client and providing for e.g. (i) the Bond Trustee to be notified by the relevant client of any default under a Charter Contract by the Parent, a Guarantor or a Guarantor Subsidiary (as the case may be) and to be capable of remedying a default within 10 days and (ii) the Bond Trustee to be entitled to nominate a reputable drilling operator with financial strength and technical capability satisfactory to the relevant client to step into the relevant Charter Contract and (iii) as a condition that all amounts due and payable under the relevant Charter Contract are duly made pursuant to the terms thereof (or as otherwise instructed by the Bond Trustee after an Event of Default).