VEL definition
Examples of VEL in a sentence
In certain circumstances, VEL may delegate the creation of such logos to the Licensee provided that such logos shall comply with the TM Guidelines and the Licensee shall not make use of any such logos (including but not limited to use on headed note paper, business cards and any advertising, marketing or promotional purposes) unless VEL has given its prior written approval to the use of such logos (in its absolute discretion).
VEL agrees that the TM Guidelines provided to the Licensee shall be no more stringent than similar guidelines regarding the use of the Virgin Name, Virgin Signature and other marks, including the Marks, that VEL requires its other licensees to comply with.
The members of the senior management teams of VEL and Licensee shall use their reasonable endeavors to meet within ten (10) Business Days of VEL’s notification provided pursuant to this Clause 3.11.5.
For the avoidance of doubt, it shall not be a breach by VEL of this Agreement if an unrelated third party imports Handsets bearing the Virgin Mobile name, Virgin Name or Virgin Signature into the Territory through distribution channels other than those authorized or intended by VEL or any Virgin Entity, provided that VEL is otherwise in compliance with Clause 6.1 hereunder.
If VEL fails to provide written notice of its decision within thirty (30) days of the request, the request will be deemed approved for purposes of this Clause.
Licensee shall provide to VEL an action plan detailing how it plans to remedy such failures within twenty (20) Business Days of such notification by VEL.
The Licensee shall pay the amount payable under this Clause in respect of each quarter within ten (10) Business Days of the end of each quarter and in the manner nominated by VEL.
VEL shall consider such action plan and within twenty (20) Business Days shall (acting reasonably) indicate in writing to Licensee whether it agrees with such proposed action plan or whether it would like to see any modifications made to such action plan.
Licensee shall provide to VEL an explanation in writing of the reasons for such failure to comply with such Customer Service Levels within twenty (20) Business Days of such notification by VEL and shall use commercially reasonable efforts to remedy such failures as soon as reasonably practicable.
The Licensee shall ensure that it maintains, at all times during the Term, current policies of insurance sufficient to indemnify against any product liability claims of up to USD 25,000,000 (twenty-five million United States dollars) arising from use of the Products and naming VEL as an additional insured.