Common use of Personal Property Security Act Clause in Contracts

Personal Property Security Act. 16.1 You consent for us to register any one or more security interest (as that term is defined in the Personal Property Securities Xxx 0000 (Cth) (‘PPSA’)) (‘Security Interest’) under the PPSA and you undertake to promptly do all things reasonably required by us to enable us to do so. You must promptly do anything required by us to ensure that any Security Interest granted to us is a perfected Security Interest and has priority over all other Security Interests in any item of plant and equipment (whether fixed or unfixed) and/or any works. 16.2 You agree not to cause (directly or indirectly) the registration of a Security Interest, or the discharge of any registration, in respect of any item of plant or equipment of (whether fixed or unfixed) or any work the subject of the Supply under this Contract or to make any Amendment Demand (as that term is defined in the PPSA) without our prior written consent and payment by you to us in respect of that plant, equipment or work.

Personal Property Security Act. 16.1 You consent for us to register any one or more security interest (as that term is defined in the Personal Property Securities Xxx 0000 Act 2009 (Cth) (‘PPSA’)) (‘Security Interest’) under the PPSA and you undertake to promptly do all things reasonably required by us to enable us to do so. You must promptly do anything required by us to ensure that any Security Interest granted to us is a perfected Security Interest and has priority over all other Security Interests in any item of plant and equipment (whether fixed or unfixed) and/or any works. 16.2 You agree not to cause (directly or indirectly) the registration of a Security Interest, or the discharge of any registration, in respect of any item of plant or equipment of (whether fixed or unfixed) or any work the subject of the Supply under this Contract or to make any Amendment Demand (as that term is defined in the PPSA) without our prior written consent and payment by you to us in respect of that plant, equipment or work.