Common use of Authority to Offer Clause in Contracts

Authority to Offer. The Master Issuer confirms that it has authorized the Lead Underwriters to offer the US Notes on its behalf to the Underwriters for subscription at the Issue Price subject to signature of this Agreement. Subject to Clause 3.2(a), the Master Issuer acknowledges and agrees that the Underwriters may offer and sell US Notes to or through any affiliate of an Underwriter and that any such affiliate may offer and sell US Notes purchased by it to or through any Underwriter.

Authority to Offer. The Master Issuer confirms that it has authorized the Lead Underwriters to offer the US Notes on its behalf to the Underwriters for subscription at the Issue Price subject to signature of this Agreement. Subject to Clause 3.2(a), the Master Issuer acknowledges and agrees that the Underwriters may offer and sell US Notes to or through any affiliate of an Underwriter and that any such affiliate may offer and sell US Notes purchased by it to or through any Underwriter.