Common use of Enforcement of Security Interest Clause in Contracts

Enforcement of Security Interest. (1) The Customer undertakes to: (a) promptly do all things, sign any further documents and/or provide any information which the Supplier may reasonably require to enable the Supplier to perfect and maintain the perfection of its Security Interest (including by registration of a financial statement); and (b) give the Supplier (addressed to Credit Services or equivalent) not less than 14 days prior written notice of any proposed change in the Customer’s name and/or any other change in the Customer’s details (including, but not limited to, changes in the Customer’s address, facsimile number, trading name or business practice). (2) The Customer waives its right to receive a verification statement in respect of any financing statement relating to the Security Interest. (3) If the Customer defaults in the timely performance of any obligation owed to the Supplier, the Supplier may enforce the Security Interest by exercising all or any of its rights under these conditions of sale, the general law and the PPSA. To the extent that Part 9 of the PPSA would otherwise apply to an enforcement by the Supplier of the Security Interest, and to the extent of law, the Customer and the Supplier agree that 114(1)(a) of the PPSA do not apply, furthermore the Customer waives its rights as referred to sections 107(2)(c), (d) and (h) of the PPSA

Enforcement of Security Interest. (1) The Customer undertakes to: (a) promptly do all things, sign any further documents and/or provide any information which the Supplier may reasonably require to enable the Supplier to perfect and maintain the perfection of its Security Interest (including by registration of a financial statement); and (b) give the Supplier (addressed to Credit Services or equivalent) not less than 14 days prior written notice of any proposed change in the Customer’s name and/or any other change in the Customer’s details (including, but not limited to, changes in the Customer’s address, facsimile number, trading name or business practice). (2) The Customer waives its right to receive a verification statement in respect of any financing statement relating to the Security Interest. (3) If the Customer defaults in the timely performance of any obligation owed to the Supplier, the Supplier may enforce the Security Interest by exercising all or any of its rights under these conditions of sale, the general law and the PPSA. To the extent that Part 9 of the PPSA would otherwise apply to an enforcement by the Supplier of the Security Interest, and to the extent of law, the Customer and the Supplier agree that 114(1)(a) of the PPSA do not apply, furthermore the Customer waives its rights as referred to sections 107(2)(c), (d), (h) and (hi) of the PPSA