Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 198

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 198
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“Independent Financial Adviser” means an
independent financial institution of international repute appointed by Banco Santander at its own expense;

“Initial Margin”
means the percent per annum determined in the relevant prospectus supplement;

82

“Law 10/2014” means Law 10/2014 on the regulation, supervision and solvency of credit institutions ( Ley 10/2014, de 26 de junio, de ordenación, supervisión y solvencia de entidades de crédito) as amended or replaced from time to time; “Law 11/2015” means Law 11/2015 of 18 June, on recovery and resolution of credit institutions and investment firms ( Ley 11/2015, de 18 de junio, de recuperación y resolución de entidades de cré dito y empresas de servicios de inversión) as amended or replaced from time to time; “Liquidation Distribution” means the Liquidation Preference per contingent convertible capital security plus, if applicable, where not cancelled pursuant to, or otherwise subject to the limitations on payment set out in, “ —Distributions”, an amount equal to accrued and unpaid Distributions for the then current Distribution Period to (but excluding) the date of payment of the Liquidation Distribution; “Liquidation Preference” shall have the meaning set forth in the relevant prospectus supplement; “Maximum Distributable Amount” means any maximum distributable amount applicable to Banco Santander or the Group required to be calculated in accordance with (a) Article 48 and 48ter of Law 10/2014 and any provision implementing such article, each interpreted in light of Article 141 of the CRD IV Directive, (b) Article 16 bis of Law 11/2015 and any provision implementing such article, and/or (c) Applicable Banking Regulations; “MREL” means the “minimum requirement for own funds and eligible liabilities” for credit institutions under the BRRD, set in accordance with Article 45 of the BRRD (as transposed in the Kingdom of Spain), Commission Delegated Regulation (EU) 2016/1450 of 23 May 2016, supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the criteria relating to the methodology for setting the minimum requirement for own funds and eligible liabilities and any other Applicable Banking Regulations; “Newco Scheme” means a scheme of arrangement or analogous proceeding (Scheme of