Common use of Personal Properties Securities law Clause in Contracts

Personal Properties Securities law. (a) On delivery of Grain to CBH, the Customer acknowledges and agrees that CBH has control of the Customer’s Grain for the purposes of the PPSA and for the exercise of CBH’s rights under this clause 10. (b) The Customer agrees, at its cost in all things, to do anything (such as obtaining consents, signing and producing documents, getting documents completed and signed and supplying information) which the Company asks and considers necessary for the purposes of: (i) ensuring that the security interest is enforceable, perfected and otherwise effective; (ii) enabling CBH to apply for any registration, complete any financing statement or give any notification, in connection with the security interest so that CBH has the priority it requires; or (iii) enabling CBH to exercise rights in connection with the security interest. (c) The Customer agrees to pay or reimburse the reasonable costs of CBH in connection with anything done by CBH in connection with the registration of any security interest created under this Agreement and the enforcement of any such security interest or of any lien over the Customer’s Grain Entitlement. (d) CBH need not give any notice under the PPSA (including notice of a verification statement) unless the notice is required by the PPSA and the requirement to give it cannot be excluded. (e) Subject to section 275(7) of the PPSA, CBH and the Customer agree that the parties are not required to disclose any information of the kind referred to in section 275(1) of the PPSA. (f) To the extent of any inconsistency between CBH’s rights under this clause and its rights under Chapter 4 of the PPSA, this clause prevails. (g) Terms used in this clause 10.3 have the same meaning as in the PPSA.