Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the sum of the amounts required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.
Banco Santander, S.A. means Banco Santander, S.A., and its successors and assigns.
Bankruptcy Code means the United States Bankruptcy Code, 11 U.S.C. 101 et seq., as amended.
Bankruptcy Event means, with respect to any Person, (i) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of such Person, or ordering the winding-up or liquidation of such Persons affairs, and such decree or order shall remain unstayed and in effect for a period of 90 consecutive days or (ii) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of such Person, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.
Bankruptcy Remote Party means each of the Seller, the Issuer, any other trust created by the Seller or any limited liability company or corporation wholly-owned by the Seller.
Benefit Plan means (i) any employee benefit plan as defined in Section 3(3) of ERISA, that is subject to Title I of ERISA, (ii) a plan as described by Section 4975(e)(1) of the Code, that is subject to Section 4975 of the Code or (iii) any entity or account deemed to hold the plan assets of any of the foregoing.
Book-Entry Certificates means the Certificates held by a Clearing Agency or its nominee and with respect to which beneficial ownership and transfers thereof shall be made through book entries by a Clearing Agency as described in Section 3.3 of the Trust Agreement.
Book-Entry Notes means a beneficial interest in the Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 2.10 of the Indenture.
Business Day means any day other than a Saturday, a Sunday or a day on which banking institutions in the states of Delaware, Illinois, Minnesota, Texas or New York, or in the state in which the Corporate Trust Office of the Indenture Trustee is located, are authorized or obligated by law, executive order or government decree to be closed.
Certificate means a certificate substantially in the form of Exhibit A to the Trust Agreement evidencing a beneficial ownership interest in the Issuer. For the avoidance of doubt, the references in the Transaction Documents to a Certificate or a Certificateholder, unless the context otherwise requires, shall be deemed to be references to Certificates or Certificateholders if more than one Certificate has been issued.
| || || || |
| || ||A-3 || ||Definitions (SDART 2020-4)|