Common use of Personal Property Securities Act Clause in Contracts

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.

Personal Property Securities Act. 8.1 The Customer grants to Equipt EquipmentShare 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 EquipmentShare from time-to-time, and to secure performance of all obligations owing by the Customer to EquiptEquipmentShare); 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 EquipmentShare has not agreed to postpone the time for attachment of the security interest granted under this clause 8.