Common use of Passporting Clause in Contracts

Passporting. If, in relation to any issue of Notes, the Issuer has agreed with the relevant Dealer(s) that the home Member State which approved the Base Prospectus will be requested to provide a certificate of approval to the competent authority of one or more host Member State(s) under Article 17 and Article 18 of the Prospectus Directive then the arrangements relating to such request (including, but not limited to, the cost of preparing any summary required pursuant to Article 19(4) of the Prospectus Directive) will be agreed between the Issuer and the relevant Dealer(s) at the relevant time. In any such case, the Issuer undertakes (failing which each Guarantor undertakes) that it will use all reasonable endeavours to procure the delivery of a certificate of approval by the CSSF (as the competent authority in Luxembourg) to the competent authority in any host Member State and the European Securities and Markets Authority in accordance with Article 17 and Article 18 of the Prospectus Directive and shall promptly notify each Dealer following receipt by the Issuer of confirmation that such certificate of approval has been so delivered.