Quiet Enjoyment Letter means, in relation to the Vessel, a quiet enjoyment letter to be made between (A) the Buyers (as owners), (B) the Sellers (as bareboat charterers), and (C) the relevant Sub-Charterers, provided that:
Quiet Enjoyment Letter means, in relation to a Vessel, the quiet enjoyment letter relating thereto dated 17 September 2012 and issued by the Security Trustee in favour of the Charterers as referred to in Clause 11 of the relevant Charter;
Quiet Enjoyment Letter means a letter agreement between the Agent (on behalf of the Finance Parties) and the relevant end-user of a Drilling Unit, to be entered into, if it is required by the relevant end-user pursuant to the relevant drilling contract, regulating the enforcement of a Mortgage on terms acceptable to the Agent (on behalf of the Finance Parties).
Examples of Quiet Enjoyment Letter in a sentence
Each of the Lenders authorises and instructs the Agent, on or before the Utilisation Date, to execute (and thereafter perform) the Quiet Enjoyment Letter in respect of the Vessels in exchange for the delivery to the Agent on or before such date of the original Charter Assignment in respect of each Vessel duly executed by the Borrower together with all notices and acknowledgments as are required to be delivered to the Agent thereunder, each duly executed by the relevant parties.
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).
More Definitions of Quiet Enjoyment Letter
Quiet Enjoyment Letter means a letter agreement between the Agent (on behalf of the Finance Parties) and the relevant end-user of a Drillship, to be entered into, if it is required by the relevant end-user pursuant to the relevant drilling contract, regulating the enforcement of a Mortgage on terms acceptable to the Agent (on behalf of the Finance Parties).
Quiet Enjoyment Letter means the quiet enjoyment letter to be entered into between the Owners, any Permitted Mortgagee and the Charterers, in a form acceptable to all parties and, in particular, containing language to the effect that the Permitted Mortgagee (i) (in the absence of any Termination Event) allows the Charterers unfettered use and quiet enjoyment without interruption of the Vessel in accordance with the terms and conditions of this Charter and (ii) acknowledges that the Charterers shall have the right to purchase the Vessel at the Purchase Option Price, the Purchase Obligation Price or the Termination Sum in accordance with the terms and conditions of this Charter.
Quiet Enjoyment Letter means a letter agreement between the Agent (on behalf of the Finance Parties), the relevant Borrower and the Bareboat Charterer, setting out contractually agreed “quiet enjoyment” undertakings with the Bareboat Charterer, on terms acceptable to the Agent (on behalf of the Finance Parties) and the Bareboat Charterer.
Quiet Enjoyment Letter means, in respect of a Ship, a letter by the Security Agent addressed to, and acknowledged by, the relevant Owner, Bareboat Charterer and Time Charterer of the Ship in an agreed form. Quotation Day means, in relation to any period for which an interest rate is to be determined, two Business Days before the first day of that period unless market practice differs in the Interbank Market for a currency, in which case the Quotation Day for that currency shall be determined by the Agent in accordance with market practice in the Interbank Market (and if quotations would normally be given by leading banks in the Interbank Market on more than one day, the Quotation Day will be the last of those days). Receiver means a receiver or a receiver and manager or an administrative receiver appointed in relation to the whole or any part of any Charged Property under any relevant Security Document. Reference Banks means, in relation to LIBOR, the principal London offices of DNB Bank ASA, Nordea Bank Norge ASA, Oversea-Chinese Banking Corporation Limited, Skandinaviska Enskilda Xxxxxx XX (publ) and Commonwealth Bank of Australia or such other banks as may be appointed by the Agent in consultation with the Borrower.
Quiet Enjoyment Letter means, in respect of a Ship where required by the terms of any Charter, a letter by the Security Agent (in a form approved by all the Lenders) addressed to, and acknowledged by, the relevant Owner and Charterer under such Charter of the Ship in an agreed form. Receiver means a receiver or a receiver and manager or an administrative receiver appointed in relation to the whole or any part of any Charged Property under any relevant Security Document. Reference Rate Supplement means a document which:
Quiet Enjoyment Letter means a quiet enjoyment letter to be issued by the Trustee in favour of a client under a Drilling Contract.