Santander Consumer definition
Examples of Santander Consumer in a sentence
In determining whether Santander Consumer and/or its Affiliates is the Holder of Notes representing 100% of the Note Balance of the Outstanding Notes for purposes of the preceding sentence, any party shall be entitled to rely on an Officer’s Certificate or similar certification of Santander Consumer or any Affiliate thereof to such effect.
In determining whether 100% of the aggregate Percentage Interests is then beneficially owned by Santander Consumer and/or its Affiliates for purposes of clause (i), any party shall be entitled to rely on an Officer’s Certificate or similar certification of Santander Consumer or any Affiliate thereof to such effect.
Santander Consumer agrees that it will participate in the resolution method selected by the Requesting Party.
Santander Consumer is willing to sell such portfolio of motor vehicle receivables and related property to the Purchaser on the terms and conditions set forth in this Agreement.
A failure of Santander Consumer to inform the Requesting Party that a Receivable subject to a demand will be repurchased within 180 days of the receipt of notice of the request shall be deemed to be a determination by Santander Consumer that no repurchase of that Receivable due to a breach of Section 3.3 is required.
Santander Consumer shall deliver (or cause to be delivered) to the Purchaser file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing.
Santander Consumer shall provide notice to the Purchaser, the Issuer, the Owner Trustee, and the Indenture Trustee that Santander Consumer has received a request to mediate or arbitrate a repurchase request.
Upon receipt of such notice, the Purchaser, the Issuer, the Owner Trustee (acting at the direction of a Certificateholder), and the Indenture Trustee (acting at the direction of a Noteholder or Note Owner) shall advise the Requesting Party and Santander Consumer of an intent to join in the mediation or arbitration, which shall result in their being joined as a Requesting Party in the Proceeding.
The arbitrator will not have the power to award punitive damages or consequential damages in any arbitration conducted by it, and Santander Consumer shall not be required to pay more than the applicable Repurchase Price with respect to any receivable which Santander Consumer is required to repurchase under the terms of this Agreement.
Santander Consumer shall pay (i) fees, expenses, indemnities and disbursements of (x) the Indenture Trustee to the extent required under Section 6.7 of the Indenture and (y) the Owner Trustee to the extent required under Sections 8.1 and 8.2 of the Trust Agreement and (ii) organizational expenses of the Issuer.