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SC Germany Mobility 2019-1 UG, Frankfurt a. Main, Germany (liq)
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Name
SC Germany Mobility 2019-1 UG
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Ut
District Court of Frankfurt HRB 115683
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Corporate purpose
Acting as a special purpose vehicle ("SPV") for the securitisation transaction SC Germany Mobility 2019-1 of a German credit institution ("Portfolio Supplier"). To this end, the Company will take over in particular the following activities: (i) acquisition of receivables and other assets of Santander Consumer Bank AG and hedging of receivables and other assets by the SPV, (ii) financing of the acquisition and / or hedging of the assets mentioned under (i) by issuing bonds and other instruments, by taking out loans and / or by any other suitable and (iii) entering into contracts in connection with or ancillary to the activities referred to in (i) and (ii). The Company will not actively manage the acquired assets from a revenue perspective or have them operated by third parties. The Company will not conduct any business subject to authorisation under the German Banking Act. In particular, the Company will not operate the deposit business within the meaning of § 1 (1) sentence 2 no. 1 of the German Banking Act (KWG); it will refinance itself by issuing bearer bonds that fall under the corresponding area exception in § 1 para. 1 sentence 2 no. 1 KWG (see (ii)) and possibly obtain a loan from the portfolio supplier or a company belonging to its group, the repayment of which is to be offset against any losses from the transferred receivables portfolio (first loss piece); it may also take out loans from authorised credit institutions (including from the portfolio supplier or an undertaking belonging to its group to finance (initial) transaction costs) and may also limit itself to taking out loans which, on the donor side, do not constitute a domestic lending business. The Company will not acquire any real estate. The Company will not manage, establish, acquire or participate in other companies. The Company will not enter into any domination or profit and loss transfer agreements or other intercompany agreements.
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11 Oct 2023
13 Jan 2021
as
SC Germany Mobility
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