Common use of Application of the PPSA Clause in Contracts

Application of the PPSA. (a) In this clause, PPSA means the Personal Property Securities Xxx 0000. If a term used in this clause has a particular meaning in the PPSA, it has the same meaning in this clause. (b) The Company grants to the Supplier a security interest under the PPSA in any Goods supplied under this Agreement. (c) The Goods are steel water tanks and accessories. (d) The Company acknowledges and agrees that the Supplier may apply to register a security interest in the Goods at any time before or after delivery of the Goods. The Company waives its right under s 157 of the PPSA to receive notice of any verification of the registration. (e) The Supplier can apply amounts it receives from the Company towards amounts owing to it in such order as the Supplier chooses. (f) If the Company defaults in the performance of any obligation owed to the Supplier under this Agreement or any other agreement for the Supplier to supply Goods to the Company, the Supplier may enforce its security interest in any Goods by exercising all or any of its rights under this Agreement or the PPSA. To the maximum extent permitted by law, the Company and the Supplier agree that the following provisions of the PPSA do not apply to the enforcement by the Supplier of its security interest in the Goods: sections 95, 118, 121(4), 125, 130, 132(3) (d), 132(4), 135, 142 and 143. (g) The Company and the Supplier agree not to disclose information of the kind mentioned in s 275(1) of the PPSA, except in circumstances required by sections 275(7)(b)-(e) of the PPSA. (h) The Company must promptly do anything required by the Supplier to ensure that the Supplier’s security interest is a perfected security interest and has priority over all other security interests in the Goods. (i) Nothing in this clause is limited by any other provision of this Agreement or any other agreement between the parties.

Application of the PPSA. (a) 14.1 In this clauseclause 14, PPSA means the Personal Property Securities Xxx 0000. If a term used in this clause has a particular meaning in the PPSA, it has the same meaning in this clause. (b) The Company grants 14.2 This clause 14 applies to the Supplier a security extent that the Company’s interest under the PPSA in any Goods supplied under this Agreementis a security interest. (c) 14.3 The Goods are steel water tanks bathroom and accessorieskitchen appliances and products. (d) 14.4 The Company Purchaser acknowledges and agrees that the Supplier Company may apply to register a security interest in the Goods at any time before or after delivery of the Goods. The Company Purchaser waives its right under s 157 s.157 of the PPSA to receive notice of any verification of the registration. (e) 14.5 The Supplier Company can apply amounts it receives from the Company Purchaser towards amounts owing to it in such order as the Supplier Company chooses. (f) 14.6 If the Company Purchaser defaults in the performance of any obligation owed to the Supplier Company under this Agreement these Conditions or any other agreement for the Supplier Company to supply Goods to the CompanyPurchaser, the Supplier Company may enforce its security interest in any Goods by exercising all or any of its rights under this Agreement these conditions or the PPSA. To the maximum extent permitted by law, the Company Purchaser and the Supplier Company agree that the following provisions of the PPSA do not apply to the enforcement by the Supplier Company of its security interest in the Goods: sections 95, 118, 121(4), 125, 130, 132(3) (d132(3)(d), 132(4), 135, 142 and 143. (g) 14.7 The Company Purchaser and the Supplier Company agree not to disclose information of the kind mentioned in s 275(1s.275(1) of the PPSA, except in circumstances required by sections 275(7)(b)-(e) of the PPSA. (h) 14.8 The Company Purchaser must promptly do anything required by the Supplier Company to ensure that the SupplierCompany’s security interest is a perfected security interest and has priority over all other security interests in the Goods. (i) 14.9 Nothing in this clause 14 is limited by any other provision of this Agreement these Conditions or any other agreement between the parties.

Application of the PPSA. (a) 14.1 In this clauseclause 14, PPSA means the Personal Property Securities Xxx 0000. If a term used in this clause has a particular meaning in the PPSA, it has the same meaning in this clause. (b) The Company grants 14.2 This clause 14 applies to the Supplier a security extent that the Company’s interest under the PPSA in any Goods supplied under this Agreementis a security interest. (c) 14.3 The Goods are steel water tanks bathroom and accessorieskitchen appliances and products. (d) 14.4 The Company Purchaser acknowledges and agrees that the Supplier Company may apply to register a security interest in the Goods at any time before or after delivery of the Goods. The Company Purchaser waives its right under s 157 s.157 of the PPSA to receive notice of any verification of the registration. (e) 14.5 The Supplier Company can apply amounts it receives from the Company Purchaser towards amounts owing to it in such order as the Supplier Company chooses. (f) 14.6 If the Company Purchaser defaults in the performance of any obligation owed to the Supplier Company under this Agreement these Conditions or any other agreement for the Supplier Company to supply Goods to the CompanyPurchaser, the Supplier Company may enforce its security interest in any Goods by exercising all or any of its rights under this Agreement these conditions or the PPSA. To the maximum extent permitted by law, the Company Purchaser and the Supplier Company agree that the following provisions of the PPSA do not apply to the enforcement by the Supplier Company of its security interest in the Goods: sections 95, 118, 121(4), 125, 130, 132(3) (d), 132(4), 135, 142 and 143. (g) 14.7 The Company Purchaser and the Supplier Company agree not to disclose information of the kind mentioned in s 275(1s.275(1) of the PPSA, except in circumstances required by sections 275(7)(b)-(e) of the PPSA. (h) 14.8 The Company Purchaser must promptly do anything required by the Supplier Company to ensure that the SupplierCompany’s security interest is a perfected security interest and has priority over all other security interests in the Goods. (i) 14.9 Nothing in this clause 14 is limited by any other provision of this Agreement these Conditions or any other agreement between the parties.