Daybreak it will be.
2 seconds sound clip from the The Life and Adventures of Santa Claus (1985) movie soundboard.
You can hear this line at 00:38:59.151 in the Blu-ray version of the movie.
Quote context
[...]
- It's... no use. We'll never get it to move.
- Yes, Claus, the reindeer will be able to pull your sleigh with ease.
- But, they've never been out of the forest before, so you'll have to guide them with these.
- How can I ever thank you, Peter Knook?
- By having these deer back in the forest before daybreak, hm?
- Are you sure you can handle all this, Claus?
- Why, we've crossed the entire valley in just a few leaps. It's almost like... Flying!
- Ho ho ho. Now I know why they call it Laughing Valley. Ho ho ho...
[...]