Common use of Personal Property Securities Act Clause in Contracts

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 accordance with section 157 of the PPSA. 5.8 The Client shall unconditionally ratify any actions taken by the Contractor under clauses 5.3 to 5.5. 5.9 Subject to any express provisions to the contrary (including those contained in this clause 5), nothing in these terms and conditions is intended to have the effect of contracting out of any of the provisions of the PPSA.

Personal Property Securities Act. 2009 (“PPSA”) 5.1 9.1 In this clause financing statement, financing change statement, security agreement, and security interest has the meaning given to it by the PPSA. 5.2 9.2 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 in: (a) all Materials and/or collateral (account) – being a monetary obligation of the Client Incidental Items previously supplied by Mouldmen to the Contractor for Works – that have previously been supplied and that Client; (b) all Incidental Items will be supplied in the future by Mouldmen to the Contractor Client; and (c) all the Client’s present and after acquired property being a charge, including anything in respect of which the Client has at any time a sufficient right, interest or power to grant a security interest in for the purposes of securing repayment of all monetary obligations of the Client to Mouldmen for Services – that have previously been provided and that will be provided in the future by Mouldmen to the Client. 5.3 9.3 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 Mouldmen 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;Register;‌ (ii) register any other document required to be registered by the PPSA; or or (iii) correct a defect in a statement referred to in clause 5.3(a)(i9.3(a)(i) or 5.3(a)(ii9.3(a)(ii).; (b) indemnify, and upon demand reimburse, the Contractor Mouldmen 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 Incidental Items charged thereby; (c) not register a financing change statement in respect of a security interest without the prior written consent of the ContractorMouldmen; (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) Incidental Items 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 salesMouldmen. 5.4 The Contractor 9.4 Mouldmen 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 9.5 The Client hereby waives its their rights to receive notices under sections 95, 118, 121(4), 130, 132(3)(d) and 132(4) of the PPSA. 5.6 9.6 The Client waives its their rights as a grantor and/or a debtor under sections 142 and 143 of the PPSA. 5.7 9.7 Unless otherwise agreed to in writing by the ContractorMouldmen, the Client waives its their right to receive a verification statement in accordance with section 157 of the PPSA. 5.8 9.8 The Client shall must unconditionally ratify any actions taken by the Contractor Mouldmen under clauses 5.3 9.3 to 5.59.5. 5.9 9.9 Subject to any express provisions to the contrary (including those contained in this clause 5), 9) nothing in these terms and conditions is intended to have the effect of contracting out of any of the provisions of the PPSA.

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 a) The Client acknowledges and agrees that these terms and conditions constitute this Agreement: (i) constitutes a security agreement for the purposes of the PPSA and creates PPSA; and (ii) create a security interest in in: (A) all Materials and/or collateral (account) – being a monetary obligation of the Client Equipment previously supplied by ENAP to the Contractor for Works – that have previously been supplied and client (if any); (B) all Equipment that will be supplied in the future by the Contractor ENAP to the Client; (C) the proceeds of sale of all Equipment (whether already supplied or to be supplied) by the Client; and (D) all present and after acquired personal property of the Client, to secure payment of all monies (including but not limited to the price payable for the Equipment and any interest) owing by the Client to ENAP from time to time under this Agreement and under any other agreement or arrangement between the Client and ENAP. 5.3 (b) The Client undertakes to: (ai) 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 ENAP may reasonably require to: (iA) register a financing statement or financing change statement in relation to a security interest on the Personal Property Securities Registerregister and otherwise do all things necessary and required by ENAP to ensure that any security interest registered by ENAP is a perfected security interest under the PPSA; (iiB) register any document on any register reasonably necessary to secure ENAP’s interest under this Agreement; (C) register any other document required to be registered by under the PPSA; or or (iiiD) correct a defect in a statement referred to in clause 5.3(a)(iclauses 14(b)(i)(A), 14(b)(i)(B) or 5.3(a)(ii14(b)(i)(C).; (bii) indemnify, and upon demand reimburse, the Contractor ENAP for all expenses incurred in registering a financing statement or financing change statement on the Personal Property Securities Register established by the PPSA register or releasing any Materials charged therebyEquipment that are the subject of a security interest; (ciii) not make an amendment demand in respect of a security interest, apply to the Registrar to register a financing change statement in respect of a security interest interest, without the prior written consent of the Contractor;ENAP; and (div) not register, or permit to be registered, a financing statement or a financing change statement in relation to the Materials and/or collateral (account) Equipment in favour of a third party without the prior written consent of the Contractor;ENAP; and (ev) immediately advise the Contractor ENAP of any material change in its business practices of selling the Materials Equipment which would may result in a change in the use of the Equipment by the Client or in the nature of proceeds derived from such salesthe sale of the Equipment. 5.4 (c) The Contractor Client and the Client ENAP agree that sections 96, 115 96 and 125 of the PPSA do not apply to the security agreement interest created by these terms and conditionsthis Agreement. 5.5 (d) The Client hereby waives its rights to receive notices notices, information or statements (as the case may be) under sections 95, 118, 121(4), 130, 132(3)(d) and 132(4) of the PPSA. 5.6 The Client waives PPSA and its rights as a grantor and/or a debtor customer under sections 142 and 143 of the PPSA. 5.7 (e) Unless otherwise agreed to in writing by the ContractorENAP, the Client waives its waive the Client’s right to receive a verification statement in accordance with section 157 of the PPSA. 5.8 (f) The Client shall unconditionally ratify ratifies any actions taken by the Contractor ENAP under clauses 5.3 14(c) to 5.514(e). 5.9 Subject to any express (g) The provisions to the contrary (including those contained in of this clause 5)14 will survive termination of this Agreement or any other agreement between ENAP and the Client for the sale of Equipment, nothing in these terms for whatever reason. (h) For the purposes of this clause 14 the expressions, “financing statement”, “financing change statement”, “register”, “Registrar”, “security agreement”, “security interest”, “perfected security interest” and conditions is intended to “verification statement” have the effect of contracting out of any of meanings given to them under, or in the provisions context of the PPSA.

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 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 accordance with section 157 of the PPSA. 5.8 The Client shall unconditionally ratify any actions taken by the Contractor under clauses 5.3 to 5.5. 5.9 Subject to any express provisions to the contrary (including those contained in this clause 5), nothing in these terms and conditions is intended to have the effect of contracting out of any of the provisions of the PPSA.

Personal Property Securities Act. 2009 (“PPSA”) 5.1 22.1 In this clause financing statement, financing change statement, security agreement, and security interest has the meaning given to it by the PPSA. 5.2 22.2 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 Purchase Money Security Interest (“PMSI”) is granted in priority to all other creditors by the Client in favour of LEAP and this security interest is given in all Materials Equipment (including any goods and/or Services) and/or collateral (account) – being a monetary obligation of the Client to the Contractor for Works LEAP – that have has previously been supplied and that will be supplied in the future by the Contractor LEAP to the Client. 5.3 22.3 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 LEAP 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 or (iii) correct a defect in a statement referred to in clause 5.3(a)(i22.2(a)(i) or 5.3(a)(ii22.2(a)(ii).; (b) indemnify, and upon demand reimburse, the Contractor LEAP 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 registration made thereby; (c) not register a financing change statement in respect of a security interest without the prior written consent of the ContractorLEAP; (d) not register, or permit to be registered, a financing statement or a financing change statement in relation to the Materials Goods 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 salesLEAP. 5.4 The Contractor 22.4 LEAP 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 22.5 The Client hereby waives its their rights to receive notices under sections 95, 118, 121(4), 130, 132(3)(d) and 132(4) of the PPSA. 5.6 22.6 The Client waives its their rights as a grantor and/or a debtor under sections 142 and 143 of the PPSA. 5.7 22.7 Unless otherwise agreed to in writing by the ContractorLEAP, the Client waives its their right to receive a verification statement in accordance with section 157 of the PPSA. 5.8 22.8 The Client shall must unconditionally ratify any actions taken by the Contractor LEAP under clauses 5.3 22.2 to 5.522.5. 5.9 22.9 Subject to any express provisions to the contrary (including those contained in this clause 5), nothing in these terms and conditions is intended to have the effect of contracting out of any of the provisions of the PPSA. 22.10 Only to the extent that the hire of the Equipment exceeds a two (2) year hire period with the right of renewal shall clause 22 apply as a security agreement in the form of a PPS Lease in respect of Section 20 of the PPSA, in all other matters this clause 22 will apply generally for the purposes of the PPSA.

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 The Customer acknowledges and agrees that to the extent the Hire Agreement (governed by these Standard terms and conditions constitute of hire) creates a PPS lease, as defined in the PPS Act, the Owner has a security agreement interest in the Plant and Equipment for the purposes of the PPSA PPS Act and creates to the extent applicable the PPS Act applies. Furthermore the customer consents to the owner affecting and maintaining a registration on the PPS register in any manner the owner considers appropriate in relation to any security interest contemplated or constituted by this Hire Agreement in the Equipment and the proceeds arising in respect of any dealing in the Equipment and the customer agrees to sign any documents and provide all Materials and/or collateral (account) – being a monetary obligation of the Client assistance and information to the Contractor for Works – that have previously been supplied owner required to facilitate the registration and that will be supplied in the future by the Contractor to the Client. 5.3 The Client undertakes to: (a) promptly sign maintenance of any further documents and/or provide security interest. We may at any further information (such information to be complete, accurate and up-to-date in all respects) which the Contractor may reasonably require to: (i) time register a financing statement or financing change statement in relation to respect of a security interest (including any purchase money security interest). You waive the right to receive notice of a verification statement in relation to any registration on the Personal Property Securities Register;register of a security interest in respect of the Equipment. 3.1 The customer undertakes to: (a) do anything (in each case, including executing any new document or providing any information) that is required by the owner (i) so that the owner acquire and maintain one or more perfected security interests under the PPSA in respect of the equipment and its proceeds, (ii) to 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 and (iii) to ensure that the Personal Property Securities Register established owners security position, and rights and obligations, are not adversely affected by the PPSA or releasing any Materials charged therebyPPSA; (cb) not register a financing change statement in respect of a security interest contemplated or constituted by this Hire Agreement without the Our prior written consent of the Contractor;consent; and (dc) not register, or permit to be registered, a financing statement or a financing change statement in relation to the Materials and/or collateral (account) equipment in favour of a third party without the owners prior written consent consent. 3.2 If Chapter 4 of the Contractor; (e) immediately advise the Contractor of any material change in its business practices of selling the Materials which PPS Act 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 otherwise apply to the enforcement of a security agreement created by these terms and conditions.interest arising under or in connection with this Hire Agreement and: 5.5 The Client hereby waives its rights to receive notices under sections 95, 118, 121(4), 130, 132(3)(d(a) and 132(4section 115(1) of the PPSAPPS Act allows for the contracting out of provisions of the PPS Act, the following provisions of the PPS Act will not apply and the customer will have no rights under them: section 95 (to the extent that it requires the secured party to give notices to the grantor); section 96; section 118 (to the extent that it allows a secured party to give notices to the grantor); section 121(4); section 125; section 130; section 132(3)(d); section 132(4); section 135; section 142 and section 143; and (b) section 115(7) of the PPS Act allows for the contracting out of provisions of the PPS Act, the following provisions of the PPS Act will not apply and the customer will have no rights under them: section 127; section 129(2) and (3); section 130(1); section 132; section 134(2); section 135; section 136(3), (4) and (5) and section 137. 5.6 The Client waives its rights as a grantor and/or a debtor under sections 142 and 143 of the PPSA. 5.7 3.3 Unless otherwise agreed and to the extent permitted by the PPSA, the customer and the owner agree not to disclose information of the kind referred to in writing section 275(1) of the PPS Act to an interested person, or any other person requested by an interested person. The customer waives any right the customer may have, or but for this clause may have had, under section 275(7)(c) of the PPS Act to authorise the disclosure of the above information. 3.4 For the purposes of section 20(2) of the PPS Act, the collateral is equipment including any equipment which is described in any Hire Schedule provided by the Contractorowner to the customer from time to time. This Hire Agreement is a security agreement for the purposes of the PPS Act. 3.5 We may apply amounts received in connection with this Hire Agreement to satisfy obligations secured by a security interest contemplated or constituted by this Hire Agreement in any way the owner determines in our absolute discretion. 3.6 You agree to notify the owner in writing of any change to your details set out in the owners credit application, within 5 days from the date of change. To assure performance of its obligations under this agreement, the Client waives its right Customer hereby gives the Owner an irrevocable power of attorney to receive a verification statement do anything the Owner considers the Customer should do under this agreement. The Owner may recover from Customer the cost of doing anything under this clause 3, including registration fees. TERMS OF PAYMENT a. Hire is charged for the time the Plant and Equipment is out of possession of the Owner at the Customer’s request (inclusive of weekends and public holidays), not only the time in which the Plant and Equipment is used. b. The Customer is liable for payment in full for all hiring charges and any other amounts payable in accordance with section 157 these Standard terms of hire and is required 30 days from the date of invoice. No claims for credit will be recognised after 14 days from the date of the PPSAinvoice. 5.8 c. The Client shall unconditionally ratify any actions taken Owner reserves the right to revise its Schedule of Hire Rates and related charges without notice, unless the supply of the Plant and Equipment is varied by an agreed supply contract Schedule. d. The Owner reserves the right to charge interest on all amounts not paid by the Contractor under clauses 5.3 Customer by the due date at the rate of 2% per month or part thereof, compounding monthly. In addition, without limiting the above, the Customer will be liable to 5.5indemnify the Owner for all expenses incurred by the Owner in recovering any amounts which the Customer fails to pay by the payment due date (including any commission payable to any commercial or mercantile agent and legal costs). 5.9 Subject to e. The Customer is liable for GST and all other taxes, duties levies, penalties and any express provisions other government charges pertaining to the contrary (including those contained in this clause 5), nothing in these terms and conditions is intended to have the effect of contracting out of any of the provisions of the PPSAhire agreement.