it is good; or, it should be thus (granting something) (see Molina)
Orthographic Variants:
cayequalli, cayecualli, ca ye qualli
Alonso de Molina:
cayequalli. bien esta, o sea assi, otorgando algo. Alonso de Molina, Vocabulario en lengua castellana y mexicana y mexicana y castellana, 1571, part 2, Nahuatl to Spanish, f. 11r. col. 2. Thanks to Joe Campbell for providing the transcription.