Fenrir the Nordic Wolf

"This card cannot be Normal Summoned. You can Special Summon this card from your hand to your opponent's field in Defense Position during your Main Phase 2, if a 'Nordic' monster is on the field" is not treated as a monster effect. (This is a condition for Special Summoning a Special Summon monster. A Chain Link is not created when Special Summoning in this way.)

If "Fenrir the Nordic Wolf" was successfully Special Summoned from the hand by the method described in its text and is subsequently sent to the Graveyard, it can be Special Summoned from the Graveyard by the effect of "Monster Reborn" or similar cards.

The effect "If there is no 'Aesir' monster on the field, destroy this card" is a Continuous Effect. (This is also applied during the Damage Step.)

The effect "②: At the start of your Battle Phase: Change all Defense Position monsters you control to face-up Attack Position" is a Trigger Effect. (This effect does not target. It is an effect that must be activated by the player controlling "Fenrir the Nordic Wolf" each time the start of their Battle Phase is reached during their turn.)

The effect "Any battle damage this card inflicts to either player is also inflicted to the other player" is a Continuous Effect. (This is treated as both you and your opponent taking battle damage at the same time.)