Common use of First issue Clause in Contracts

First issue. Before the Issuer reaches its first agreement with any Dealer for the issue of, and subscription for Notes, each Dealer shall have received, and found satisfactory (in its reasonable opinion) all of the documents and confirmations described in Part 1 of the Initial Documentation List from the Arranger. Any Dealer must notify the Arranger and the Issuer within 10 (ten) calendar days (or such shorter period as may be agreed between the Issuer, the Arranger and the Relevant Dealer(s)) of receipt of the documents and confirmations described in Part 1 of Schedule 1 if it considers any to be unsatisfactory in its reasonable opinion and, in the absence of such notification, such Dealer shall be deemed to consider such documents and confirmations to be satisfactory.

First issue. Before the Issuer reaches its first agreement with any the Dealer for the issue of, of and subscription for NotesNotes under this Agreement, each the Arranger and the Dealer shall have received, and found satisfactory (in its reasonable opinion) ), all of the documents and confirmations described in Part 1 of the Initial Documentation List from the ArrangerList. Any The Dealer must notify and the Arranger and must in turn notify the Issuer within 10 (ten) calendar days seven Business Days (or such shorter period as may be agreed between the Issuer, the Arranger and the Relevant Dealer(s)Dealer) of receipt by it of the documents and confirmations described in Part 1 of Schedule 1 the Initial Documentation List, if it considers any to be unsatisfactory in its reasonable opinion and, in and the reasons therefor. In the absence of such notification, such the Arranger and the Dealer shall be deemed to consider such documents and confirmations to be satisfactory.