Danny O'Donoghue told the story behind the song in an interview with Merrick, Dools & Ricki-Lee on Sydney radio station Nova 96.9.
The song was sampled by the band on the track "Good Ol' Days" from their third studio album 3 (2012).
The music video features band members of the Script within a studio and clips of a couple who have emigrated from Ireland to New York City.
The characters in the music video are played by Eve Hewson, daughter of U2's Bono, and Luke Treadaway.
"For the First Time" debuted on the Irish Singles Chart at number one on 10 September 2010, knocking Katy Perry's "Teenage Dream" from the top spot.