Common use of Prior approval of circulars Clause in Contracts

Prior approval of circulars. (a) Except as otherwise agreed by the Trustee and the Manager, where the Manager has prepared any: (i) Information Memorandum; or Master Trust Xxxx Xxxxx Xxxxx & Xxxxxxx -------------------------------------------------------------------------------- (ii) circular, offer letter, notice, report or the like to Noteholders, or prospective Noteholders (a Publication) for a Trust, the Manager shall submit the Information Memorandum or Publication to the Trustee for the Trustee's approval (in the case of any document required by law to be the responsibility of the Trustee) or information (in any other case) prior to the issue of the document (unless otherwise waived by the Trustee). (b) Where the Manager has prepared any Information Memorandum or Publication which names, or purports to be issued by or on behalf of, a Servicer or an Approved Seller, the Manager shall submit the Information Memorandum or Publication to the Servicer or Approved Seller (as the case may be) for its consent (not to be unreasonably withheld) prior to the issue of the document (unless the Servicer or Approved Seller otherwise agrees).