Personal Property Securities Act. The Customer acknowledges that under the Contract the Customer grants a Security Interest(s) to the Company, including but not limited to, the lien in Clause 6. The Customer acknowledges that the Contract constitutes a Security Agreement for the purposes of the PPS Act. The Guarantor acknowledges that under the Guarantee the Guarantor grants a Security Interest(s) to the Company, including (without limitation) a charge over all its property. The Guarantor acknowledges that the Guarantee constitutes a Security Agreement for the purposes of the PPS Act. If there is a Security Interest in favour of the Customer or the Guarantor and the Customer or the Guarantor proposes to register the Security Interest under the PPS Act, the Customer or the Guarantor (as applicable) must give the Company written notice prior to the registration that the Customer or the Guarantor (as applicable) proposes to register the Security Interest. The Customer and the Guarantor will do anything reasonably required by the Company to enable the Company to register its Security Interests, with the priority the Company requires, and to maintain the registration. The Security Interests arising under the Contract or the Guarantee attach to the Collateral in accordance with section 19(2) of the PPS Act and the parties confirm that they have not agreed that any Security Interest arising under the Contract or the Guarantee attaches at any later time. The Customer and the Guarantor each acknowledge that the Company may perfect its Security Interests by lodging a Financing Statement on the Personal Property Securities Register. To the extent that any of the enforcement provisions of Chapter 4 of the PPS Act apply to the Security Interests created under or referred to in the Contract or the Guarantee, the following provisions of the PPS Act will not apply:
(i) section 95 (notice of removal of accession), to the extent that it requires the secured party to give a notice to the grantor;
(ii) subsection 121(4) (enforcement of liquid assets – notice to grantor);
(iii) section 130 (notice of disposal), to the extent that it requires the secured party to give the grantor a notice;
(iv) paragraph 132(3)(d) (contents of statement of account after disposal);
(v) subsection 132(4) (statement of account if no disposal);
(vi) section 135 (notice of retention);
(vii) section 142 (redemption of collateral); and
(viii) section 143 (reinstatement of security agreement). The Company does not need to give the Cust...
Personal Property Securities Act. (PPSA)
15.1. If one Party (the "Secured Party") determines that the Contract (or a transaction in connection with it) is or contains a Security Interest, the other Party (the "Grantor") agrees to promptly do anything (such as obtaining consents, signing and producing documents, getting documents completed and signed and supplying information) which is reasonably requested by the Secured Party and which is reasonably necessary for the purposes of:
a) ensuring that the Security Interest is enforceable, perfected (including, where possible, by "control" (as defined in the PPSA) in addition to registration) and otherwise effective; or
b) enabling the Secured Party to apply for any registration, or give any notification, in connection with the Security Interest so that the Security Interest has the priority required by the Secured Party; or
c) enabling the Secured Party to exercise rights in connection with the Security Interest, but only to the extent of the Security Interest created.
15.2. The Grantor agrees:
a) to provide at least [10] business days? notice of any change to its name, or any other information which might affect the details recorded in any Financing Statement registered by the Secured Party;
b) not to change its place of business to a jurisdiction outside of Australia.
c) everything that a Party is required to do under this clause 13 is at that Party’s expense, and neither Party will be responsible for any costs or expenses incurred or payable by the other Party in relation to registering, maintaining or releasing any Security Interest, Financing Statement or Financing Change Statement or giving any notice in relation to a Security Interest.
15.3. The parties agree that to the extent they may be excluded by law:
a) sections 142 and 143 of the PPSA are excluded and the Secured Party need not comply with the following provisions of the PPSA: sections 95, 118, 121(4), 125, 130, 132(3)(d), 132(4) and any other provision of the PPSA notified to the Grantor by the Secured Party after the date of the Contract; and
b) neither the Secured Party nor any receiver need give any notice required under any provision of the PPSA (except section 135). This clause applies despite any other clause in the Contract.
Personal Property Securities Act. 15.1 In this clause, unless the context requires otherwise, the phrases “security interest”, “security agreement”, “financing statement” and “financing change statement”, have the meanings given to them by the PPSA.
15.2 The Customer acknowledges, consents and agrees that:
(a) an Agreement constitutes a security agreement for the purposes of the PPSA;
(b) an agreement incorporating these Terms and Conditions creates a security interest in any personal property of the Customer which is otherwise charged by these Terms and Conditions;
(c) to the extent permitted by law, sections 96, 117 and 125 of the PPSA do not apply to an Agreement which is a security agreement;
(d) Xxxxxxx may register a security interest created under an Agreement on the Personal Property Securities Register (PPSR) and the Customer agrees to do all things necessary to affect such a registration and ensure that such a security interest is enforceable;
(e) it will promptly sign any documents and provide any further information which Xxxxxxx may reasonably require to properly register a financing statement or financing change statement in relation to a security interest on the PPSR or any other document required to be registered by the PPSA;
(f) it will not register a financing change statement in respect of a security interest or a financing change statement in favour of a third party without the prior written consent of Xxxxxxx; and
(g) it will unconditionally ratify any actions taken by Xxxxxxx under this clause.
15.3 To the extent permitted by law, the Customer agrees that it waives its rights:
(a) to receive a verification statement in accordance with section 157 of the PPSA or to otherwise receive notice of the registration of any security interest on the PPSR; and
(b) to receive notices or statements under sections 95, 118, 121(4), 130, 132(3)(d), 132(4) and 135 of the PPSA.
Personal Property Securities Act. If Part 9 of the PPSA applies to you then you:
Personal Property Securities Act. 6.1 In this clause 6 “PPSA” means the Personal Properties Securities Xxx 0000 and any other legislation and regulations in respect of it and amendments to it, and the capitalised terms used in this clause shall have the same meaning as given in the PPSA:
Personal Property Securities Act. To the extent the Personal Property Securities Act 2009 (Cth) applies to any Materials or Deliverables supplied by the Supplier to the Customer, the Supplier represents, warrants and undertakes that the supply of the Materials and Deliverables to the Customer:
(a) does not breach any security agreement the Supplier has with a third party; and
(b) is within the ordinary course of the Supplier's business.
Personal Property Securities Act. 2009 (“PPSA”)
5.1 In this clause financing statement, financing change statement, security agreement, and security interest has the meaning given to it by the PPSA.
5.2 Upon assenting to these terms and conditions in writing the Client acknowledges and agrees that these terms and conditions constitute a security agreement for the purposes of the PPSA and creates a security interest in all Materials and/or collateral (account) – being a monetary obligation of the Client to the Contractor for Works – that have previously been supplied and that will be supplied in the future by the Contractor to the Client.
5.3 The Client undertakes to:
(a) promptly sign any further documents and/or provide any further information (such information to be complete, accurate and up-to-date in all respects) which the Contractor may reasonably require to:
(i) register a financing statement or financing change statement in relation to a security interest on the Personal Property Securities Register;
(ii) register any other document required to be registered by the PPSA; or (iii) correct a defect in a statement referred to in clause 5.3(a)(i) or 5.3(a)(ii).
(b) indemnify, and upon demand reimburse, the Contractor for all expenses incurred in registering a financing statement or financing change statement on the Personal Property Securities Register established by the PPSA or releasing any Materials charged thereby;
(c) not register a financing change statement in respect of a security interest without the prior written consent of the Contractor;
(d) not register, or permit to be registered, a financing statement or a financing change statement in relation to the Materials and/or collateral (account) in favour of a third party without the prior written consent of the Contractor;
(e) immediately advise the Contractor of any material change in its business practices of selling the Materials which would result in a change in the nature of proceeds derived from such sales.
5.4 The Contractor and the Client agree that sections 96, 115 and 125 of the PPSA do not apply to the security agreement created by these terms and conditions.
5.5 The Client hereby waives its rights to receive notices under sections 95, 118, 121(4), 130, 132(3)(d) and 132(4) of the PPSA.
5.6 The Client waives its rights as a grantor and/or a debtor under sections 142 and 143 of the PPSA.
5.7 Unless otherwise agreed to in writing by the Contractor, the Client waives its right to receive a verification statement in acc...
Personal Property Securities Act. 2009 (PPSA)
14.1. In this clause financing statement, financing change statement, security agreement, and security interest has the meaning given to it by the PPSA.
14.2. Upon assenting to Terms in writing the Customer or Distributor acknowledges and agrees that these Terms:
a) constitute a security agreement for the purposes of the PPSA; and
b) create a security interest in:
1) all Products and /or collateral (account) – being a monetary obligation of the Customer or Distributor to the Supplier previously supplied (sold or otherwise) by the Supplier to the Customer or Distributor (if any); and
2) all Products and /or collateral (account) – being a monetary obligation of the Customer or Distributor to the Supplier that will be supplied (sold or otherwise) in the future by the Supplier to the Customer.
14.3. Upon assenting to Terms in writing the Customer or Distributor acknowledges and agrees that these Terms:
14.4. The Customer or Distributor undertakes to:
a) promptly sign any further documents and/or provide any further information (such information to be complete, accurate and up-to-date in all respects) which the Supplier may reasonably require to:
1) register a financing statement or financing change statement in relation to a security interest on the Personal Property Securities Register;
2) register any other document required to be registered by the PPSA;
3) correct a defect in a statement referred to in clause 14.1; and/or
4) comply with section 275 of the PPSA.
b) indemnify, and upon demand reimburse, the Supplier for all expenses incurred in registering a financing statement or financing change statement on the Personal Property Securities Register established by the PPSA or releasing any Products charged thereby;
c) not register a financing change statement in respect of a security interest without the prior written consent of the Supplier;
d) not register, or permit to be registered, a financing statement or a financing change statement in relation to the Products in favour of a third party without the prior written consent of the Supplier; and
e) immediately advise the Supplier of any material change in its business practices of selling the Products which would result in a change in the nature of proceeds derived from such sales.
14.5. The Supplier and the Customer or Distributor agree that sections 96, 115 and 125 of the PPSA do not apply to the security agreement created by these Terms.
14.6. The Customer or Distributor hereby waives its r...
Personal Property Securities Act. (a) To the extent a hire under this agreement creates a PPS lease, as defined in the Personal Property Securities Xxx 0000 (Cth) (“PPS Act”), we have a security interest in the Equipment as well as its proceeds for the purposes of the PPS Act. For the purposes of the PPS Act the collateral is described as containers and related equipment and the collateral may be further described in a Quote.
(b) You warrant that any Equipment or materials hired from us are not hired predominantly for personal, domestic or household purposes.
(c) You acknowledge that we may do anything reasonably necessary, including but not limited to registering any security interest which we have over the Equipment and/or any property inside the Equipment on the Personal Property Securities Register in order to perfect the security interest as a first priority security interest and comply with the requirements of the PPS Act. You agree without charge to provide all information and do all things reasonably necessary to assist us to undertake the matters set out above. You waive pursuant to s.157(3)(b) of the PPS Act the right to receive notice of a verification statement in relation to any registration.
(d) You agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Act.
Personal Property Securities Act. 8.1 The Customer grants to Equipt a security interest in:
(a) all of the Customer’s present and after acquired personal property (as defined in the PPSA) as security for the due payment of all amounts owing by the Customer to Equipt from time-to-time, and to secure performance of all obligations owing by the Customer to Equipt); and
(b) the Equipment if the Rental Period is for a term of more than one year (including any extensions to the Rental Period) or for an indefinite term, (the “Collateral”).
8.2 The Customer acknowledges that it has received value at the date of delivery of the Equipment and that nothing in this Agreement provides that a security interest created herein attaches at a later time than the time specified in section 40(1) of the PPSA: Equipt has not agreed to postpone the time for attachment of the security interest granted under this clause 8.
