Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 41

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 41
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 Trustee or the holders of at least 25% in outstanding principal amount of the Notes of any series may, at their discretion and without further notice, institute such proceedings against Banco Santander as they may think fit to enforce any obligation, condition or provision binding on Banco Santander under the Notes of such series, provided that, except as provided in paragraph (ii) winding up above, Banco Santander shall not as a consequence of such proceedings be obliged to pay any sum or sums representing or measured by reference to principal or interest in respect of the Notes of such series sooner than the same would otherwise have been payable by it or any damages. Notwithstanding any contrary provisions, nothing shall impair the right of a holder, absent the holder’s consent, to sue for any payments due but unpaid with respect to the Notes of any series. Events of Default and Defaults—General See “ Description of Debt Securities—Events of Default and Defaults; Limitation of Remedies—Events of Default and Defaults—General” in the accompanying prospectus. S-23

Substitution of Issuer See “ Description of Debt Securities—Events of Default and Defaults; Limitation of Remedies—Substitution of Issuer”in the accompanying prospectus. Waiver of Right of Set-off Subject to applicable law, neither any holder or beneficial owner of the Notes of any series nor the Trustee acting on behalf of the holders of the Notes of such series may exercise, claim or plead any right of set-off,netting, compensation or retention in respect of any amount owed to it by Banco Santander in respect of, or arising under, or in connection with, the Notes of such series or the Base Indenture as amended and supplemented by the Second Supplemental Indenture, and each holder and beneficial owner of the Notes of such series, by virtue of its holding of any Notes of such series or any interest therein, and the Trustee acting on behalf of such holders, shall be deemed to have waived all such rights of set-off, netting,compensation or retention. If, notwithstanding the above, any amounts due and payable to any holder or beneficial owner of a Note of any series or any interest therein by Banco Santander in respect of, or arising under, the Notes of such series are discharged by set-off, suchholder or beneficial owner shall, subject to applicable law, immediately pay an amount equal to the amount of such discharge to Banco Santander (or, if the event of any voluntary or involuntary liquidation of Banco Santander shall have occurred