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.
View Source
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.
View Source

Examples of SRDA in a sentence

  • 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.

  • The square footage for subsequent renewal terms may be adjusted prior to the start of a renewal terms as so designated in the written notice of renewal submitted by SER, subject to the consent of SRDA for any increase in the square footage.

  • If the Auction Participant commits a material breach of this Agreement that does not relate to a particular SRDA, and fails to remedy that breach within 3 business days after being required in writing to do so, AEMO may terminate this Agreement and any or all of the SRDAs between AEMO and the Auction Participant by further notice to the Auction Participant.

  • Amendment An amendment to this Agreement or an SRDA will be effective only if made in writing and executed by all parties.

  • 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.

  • Entire Agreement This Agreement and each SRDA entered into in accordance with this Agreement contains the entire agreement between the parties with respect to its subject matter and supersedes all prior agreements and understandings between the parties in connection with it.

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

  • Subject to the other terms herein, SER shall have the right to use the leased space for its own purposes to the exclusion of all others, with the exception of normal maintenance and repair activities by SRDA or the City.

  • Neither the Auction Participant, nor the Agent, is permitted to assign or otherwise transfer their respective rights and obligations under this Agreement and any SRDA without AEMO’s consent.

  • 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.