SRDA definition

SRDA means, on any date of determination, an amount (expressed as a positive value) computed on such date of determination, equal to the lesser of (A) the accrual balance on each Originator’s books and records in the ordinary course of business according to policies consistently applied related to volume rebates and early-pay discounts as of the most recently ended fiscal month and (B) the product of (a) the greater of (x) three (3) or (y) 1.5 times Days Sales Outstanding divided by 30 and (b) the greatest of (i) the sum of the credits accrued for as a liability on each Originator’s books and records in the ordinary course of business according to policies consistently applied related to volume rebates and early-pay discounts during the most recently ended fiscal month, (ii) the sum of debits applied against the liability on each Originator’s books and records in the ordinary course of business according to policies consistently applied related to volume rebates and early-pay discounts during the most recently ended fiscal month and (iii) the monthly average of amounts calculated in clause (i) above during the twelve (12) most recently ended fiscal months of the Servicer.
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SRDA means a settlements residue distribution agreement. SRDA Units means, in respect of an SRDA, the Units specified in the Relevant Confirmation for that Relevant Quarter and, for the avoidance of doubt, may include Units in more than one Unit Category.
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Examples of SRDA in a sentence

  • Each SRDA is a separate agreement and shall be subject to the terms and conditions set out in this Agreement.

  • Assignment of this lease or sublease shall not be allowed without the express written permission of SRDA and the City, which permission may be denied for any reason, including an arbitrary reason.

  • If a party commits a material breach of this Agreement that relates to a particular SRDA, and fails to remedy that breach within 3 business days after being required in writing to do so, the other party may terminate the SRDA to which the breach relates by further notice to the other party.

  • To the maximum extent permitted by law and except as otherwise provided in this Agreement, all terms, conditions, warranties or statements (whether express, implied, written, oral, collateral, statutory or otherwise) which would be implied or incorporated into this Agreement or a SRDA as having been given by AEMO in favour of the Auction Participant are excluded and AEMO disclaims all liability in relation to them.

  • Dispute Resolution The dispute resolution procedures set out in clause 8.2 of the Rules will apply to any dispute arising in relation to this Agreement, a SRDA or otherwise in relation to any auction.

  • Auction Participant Acknowledgements General The Auction Participant acknowledges, in respect of this Agreement and each SRDA, that neither AEMO, nor any person acting on behalf of or associated with AEMO, makes any representation, gives any advice, or gives any warranty or undertaking of any kind in respect of this Agreement, an SRDA, the Units, or the auctions or otherwise in relation to or in connection with this Agreement, or any transaction or arrangement contemplated under this Agreement.

  • Statutory Immunity For the avoidance of doubt and despite any other provision of this Agreement, nothing in this Agreement, SRDA, or the auction rules varies or excludes the operation of section 119 and 120A of the National Electricity Law.

  • Termination National Electricity Market This Agreement and each SRDA will terminate immediately if the National Electricity Market permanently ceases to operate.

  • Agents Liability3 Where an Agent is a party to this Agreement, the Agent will be jointly and severally liable with the Auction Participant in relation to the Auction Participant’s obligations under this Agreement and any SRDA entered into by the Auction Participant.

  • Governing Law and Jurisdiction This Agreement and each SRDA is governed by the laws of Victoria.