PPS Law. 19.1 This clause applies to the extent that this Agreement provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law). 19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions. 19.3 The Owner may register its security interest as a PMSI. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of: (a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law; (b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and (c) enabling the Owner to exercise rights in connection with the security interest. 19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees. 19.5 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under other law, as it sees fit. 19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement). 19.7 The following provisions of the PPS Law confer rights on the Owner: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence. 19.8 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. 19.9 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes of allowing the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches this sub-clause.
Appears in 2 contracts
Samples: Master Agreement for the Hire of Equipment, Master Agreement for the Hire of Equipment
PPS Law. 19.1 7.1 This clause applies to the extent that Owner’s interest in respect of a hire provided for in this Agreement provides for document is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law).
19.2 . References to PPS Law in this Agreement document include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 The 7.2 Owner may register its any actual impending or likely security interest as a PMSIinterest. The Hirer Customer may not make any Claim against Owner in respect of any registration even if it is determined that Owner should not have registered a security interest. The Customer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 7.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it Owner’s security interest will attach to proceeds.
19.6 7.4 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreementdocument, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement document in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the HirerCustomer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the HirerCustomer); section 129(2) and 129(3); section 132(3)(d) (contents 132(3)(d)(contents of statement of account after disposal); section 132(4) (statement 132(4)(statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 section143 (re-re- instatement of security agreementdocument).
19.7 The 7.5 To the extent they apply, the following provisions of the PPS Law confer rights on the Owner: Law; section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) confer rights on Owner. The Hirer Customer agrees that in addition to those rights, the Owner shall, if there is default by the HirerCustomer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer Customer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 7.6 The Hirer Customer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security documents prior to the date of this document.
19.9 The 7.7 Owner and the Hirer Customer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer Customer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement document in this sub-clause is made solely for the purposes purpose of allowing the to Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
7.8 The Customer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of Owner. The Customer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless Owner (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to Owner and must be expressed to be subject to the rights of Owner under this document. Customer may not vary a sub-hire without the prior written consent of Owner (which may be withheld in its absolute discretion).
7.9 The Customer must ensure that Owner is provided at all times with up- to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
7.10 The Customer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Customer to gain (subject always to the rights of Owner) first priority (or any other priority agreed to by Owner in writing) for the security interest; and
(c) enabling Owner and the Customer to exercise their respective rights in connection with the security interest.
7.11 To assure performance of its obligations under this document, the Customer hereby gives Owner an irrevocable power of attorney to do anything Owner considers the Customer should do under this document. Owner may recover from Customer the cost of doing anything under this clause 5, including registration fees.
Appears in 2 contracts
Samples: Hire Agreement, Hire Agreement
PPS Law. 19.1 35.1 This clause applies to the extent that this Agreement our customer contract provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law) (or part of it).
19.2 References 35.2 The security interest granted to us is a ‘purchase money security interest’ (PMSI) to the extent that it can be under section 14 of the PPS Law in this Agreement include references to amended, replacement and successor provisionsLaw.
19.3 The Owner 35.3 We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) ensuring 35.3.1 Ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner 35.3.2 Enabling us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) enabling the Owner 35.3.3 Enabling us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything 35.4 Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document our contract are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this documentour customer contract, and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the 35.5 The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement our customer contract in respect of all goods to which that section can be applied: section are not used predominantly for personal, domestic or household purposes:
35.6 sections 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section , 96 (retention of accession); section 121(4) (notice to grantor); section , 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hirer); section 129(2) and 129(3you); section 132(3)(d) (contents consents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement reinstatement of security agreement).
19.7 The agreement).The following provisions of the PPS Law confer rights on the OwnerLaw: section Section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral), Confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner shall, rights we shall if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsequipment, not only under those sections but also, as additional and independent rights, under this document our customer contract and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its 35.6.1 You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 35.6.2 The Owner and the Hirer parties agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
35.6.3 You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the equipment other than with our express written consent.
35.6.4 You must not lease, hire, bail or give possession of (‘sub-hire’) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our customer contract.
35.6.5 You must take all steps including registration under PPS Law as may be required to:
35.6.5.1 Ensure that any security interest arising under or in respect of the subhire is enforceable, perfected and otherwise effective under the PPS law;
35.6.5.2 Enabling you to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
35.6.5.3 Enabling each of us to exercise our respective rights in connection with the security interest.
35.6.6 We may recover from you the cost of doing anything under this clause, including the registration fees and the costs notification.
Appears in 2 contracts
Samples: Standard Form of Agreement, Standard Form of Agreement
PPS Law. 19.1 31.1 This clause applies to the extent that this Agreement our customer contract provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law) (or part of it).
19.2 References 31.2 The security interest granted to us is a ‘purchase money security interest’ (PMSI) to the extent that it can be under section 14 of the PPS Law in this Agreement include references to amended, replacement and successor provisionsLaw.
19.3 The Owner 31.3 We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) ensuring Ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner Enabling us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) enabling the Owner Enabling us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything 31.4 Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document our customer contract are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this documentour customer contract, and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the 31.5 The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement our customer contract in respect of all goods to which that section can be appliedare not used predominantly for personal, domestic or household purposes: section • sections 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section , 96 (retention of accession); section 121(4) (notice to grantor); section , 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hirer); section 129(2) and 129(3you); section 132(3)(d) (contents consents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 31.6 The following provisions of the PPS Law confer rights on the OwnerLaw: section • Section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral), • Confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner shall, rights we shall if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsequipment, not only under those sections but also, as additional and independent rights, under this document our customer contract and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its 31.7 You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 31.8 The Owner and the Hirer parties agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
31.9 You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the equipment other than with our express written consent.
31.10 You must not lease, hire, bail or give possession of (‘sub-hire’) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our customer contract.
31.11 You may not vary a sub-hire without our prior written consent (in our absolute discretion).
31.12 You must ensure that we are provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and the state of accounts and payment under the sub-hire and the location and condition of our equipment.
31.13 You must take all steps including registration under PPS Law as may be required to:
(a) Ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS law;
(b) Enabling you to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
(c) Enabling each of us to exercise our respective rights in connection with the security interest.
31.14 To assure performance of your obligations, you give us an irrevocable power of attorney to do anything we consider you should do under our customer contract.
31.15 We may recover from you the cost of doing anything under this clause, including the registration fees and the costs notification.
Appears in 2 contracts
Samples: Business Terms, Standard Form of Agreement
PPS Law. 19.1 19.1. This clause applies to the extent that this Agreement the agreement we have with you provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”) (or part of it). The security interest granted to us is a ‘purchase money security interest’ (“PMSI”) to the extent that it can be under section 14 of the PPS Law.
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 The Owner 19.2. We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) 19.2.1. ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) 19.2.2. enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) 19.2.3. enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything 19.3. Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document our agreement with you are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the 19.4. The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement our agreement with you in respect of all goods to which that section can be applied: section arenotused predominantly for personal, domesticorhouseholdpurposes:
19.4.1. sections 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section , 96 (retention of accession); section 121(4) (notice to grantor); section , 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hirer); section 129(2) and 129(3you); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 19.5. The following provisions of the PPS Law confer rights on the Owner: Law:
19.5.1. section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral), confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodshardware and/or Loan Equipment, not only under those sections but also, as additional and independent rights, under this document our agreement with you and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its 19.6. You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 19.7. We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
19.8. You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the hardware and/or Loan Equipment other than with our express written consent.
19.9. You must not lease, hire, bail or give possession of (‘sub-hire’) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
19.10. You must take all steps including registration under PPS Law as may be required to:
19.10.1. ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
19.10.2. enabling us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
19.10.3. enabling each of us to exercise our respective rights in connection with the security interest.
19.11. We may recover from you the cost of doing anything under this clause, including registration fees and the costs of notification.
Appears in 2 contracts
Samples: Master Terms, Master Terms
PPS Law. 19.1 (a) This clause applies to the extent that the Owner’s interest in respect of a Hire as provided for in this Agreement provides for agreement is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law).
19.2 (b) References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 (c) The Owner may register its any actual impending or likely security interest as interest. The Hirer may not make any Claim against the Owner in respect of any registration even if it is determined that the Owner should not have registered a PMSIsecurity interest. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(ai) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the underthe PPS Law;
(bii) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(ciii) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 (d) The rights of the Owner under this document agreement are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it the Owner’s security interest will attach to proceeds.
19.6 (e) To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-re- instatement of security agreement).
19.7 (f) The following provisions of the PPS Law confer rights on the Owner: being section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) may, if applicable, confer rights on the Owner. The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document agreement and the Hirer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 (g) The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security agreements prior to the date of this agreement.
19.9 (h) The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of 275(6)(a)of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing to the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
(i) The Hirer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consentof the Owner. The Hirer must not lease, hire, bail or give possession (sub-hire) of the Equipment to anyone else unless the Owner (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the Owner and must be expressed to be subject to the rights of the Owner under this agreement. The Hirer may not vary a sub-hire without the prior written consent of the Owner (which may be withheld in its absolute discretion).
(j) The Hirer must ensure that the Owner is provided at all times with up-to-date information about the sub-hireincluding the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
(k) The Hirer must take all steps including registration under PPS Law as may be required to:
(i) ensure that any security interest arising under or in respect of the sub- hire is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enabling the Hirer to gain (subject always to the rights of the Owner) first priority (or any otherpriority agreed to by the Owner in writing) for the security interest; and
(iii) enabling the Owner and the Hirer to exercise their respective rights in connection with the security interest.
Appears in 1 contract
Samples: Master Equipment Hire Agreement
PPS Law. 19.1 This clause applies to the extent that this Agreement Contract provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisions.
19.3 The Owner provisions or legislation. • Eastern Diggers may register its security interest as a PMSIinterest. The Hirer Customer must do anything (such as obtaining consents and signing documents) which the Owner Eastern Diggers requires for the purposes of:
(a) : • ensuring that the Owner’s Eastern Diggers’ security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) ; • enabling the Owner Eastern Diggers to gain first priority (or any other priority agreed to by the Owner Eastern Diggers in writing) for its security interest; and
(c) and • enabling the Owner Eastern Diggers to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 . • The rights of the Owner Eastern Diggers under this document are in addition to and not in substitution for the Owner’s Eastern Diggers’ rights under other law (including the PPS Law) and the Owner Eastern Diggers may choose whether to exercise rights under this document, and/or under such other law, as it sees fit.
19.6 . To avoid any doubt about it Eastern Diggers security interest will attach to proceeds. • To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner Eastern Diggers to give a notice to the HirerCustomer); section 96 (retention of accession); section 121(4section121(4) (notice to grantor); section 125 section125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner Eastern Diggers to give a notice to the HirerCustomer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 . • The following provisions of the PPS Law confer rights on the OwnerLaw: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) confer rights on Eastern Diggers. The Hirer Customer agrees that in addition to those rights, the Owner Eastern Diggers shall, if there is default by the HirerCustomer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer Customer agrees that the Owner Eastern Diggers may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 . • The Hirer Customer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner . • Eastern Diggers and the Hirer Customer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer Customer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to Eastern Diggers the benefit of section 275(6)(a275 (6)(a) and the Owner Eastern Diggers shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause. • Customer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of Eastern Diggers. • Customer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless Eastern Diggers (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to Eastern Diggers and must be expressed to be subject to the rights of Eastern Diggers under this agreement. Customer may not vary a subhire without the prior written consent of Eastern Diggers (which may be withheld in its absolute discretion). • Customer must ensure that Eastern Diggers is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment. • Customer must take all steps including registration under PPS Law as may be required to: • ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law; • enabling the Customer to gain (subject always to the rights of Eastern Diggers) first priority (or any other priority agreed to by Eastern Diggers in writing) for the security interest; and • enabling Eastern Diggers and the Customer to exercise their respective rights in connection with the security interest. • where the Equipment is lost or stolen; • where the operator is not suitably licensed; • where the operator is affected by drugs and/or alcohol; • where the equipment has been wilfully damaged by the Customer or its employees or agents; • where the damage is caused by a collision with a bridge, carpark, awning, gutter, tree or any other overhead structure or object whatsoever due to insufficient clearance; • where the damage is caused while the Equipment is being driven or towed on any road that is unsealed or is not a public road; or • where the damage is caused in any way by overloading. • Where damage is caused to a truck pantech or truck crane. • The Customer may pay an additional Vehicle Waiver Plus Fee (Excluding Customers driving with “P” plate licences) in relation to the hire of Motor Vehicles, which will; • reduce the Damage Waiver Excess in relation to Motor Vehicles; cover damage to a pantech or van body above cab height; and • add a Theft Waiver component for Motor Vehicles. Theft Waiver is not insurance, but is an agreement by Eastern Diggers that the Customer’s liability for theft or loss of the Motor Vehicle can be limited in some circumstances only to an amount called the Theft Waiver Excess. Eastern Diggers may ask the Customer to pay the Vehicle Waiver Plus Fee on the hire of Motor Vehicles, but the Customer may decide to opt out of that payment. Credit account customers will have the Vehicle Waiver Plus applied to all relevant hires unless the Customer has declined the Waiver on the credit application or opted out by providing notice to Eastern Diggers in writing. The reduced Damage Waiver Excess and the Theft Waiver Excess apply to Motor Vehicles when the Vehicle Waiver Plus Fee is paid this will be shown on the Hire Contract and will vary for different classes of vehicles. • The Customer may pay an additional Equipment Waiver Plus Fee in relation to the hire of medium and large equipment (being such Equipment as determined by Eastern Diggers at the time of hire), which will; • reduce the Damage Waiver Excess in relation to medium and large equipment; and • add a Theft Waiver component for medium and large machinery. Theft Waiver is not insurance, but is an agreement by Eastern Diggers that the Customer’s liability for theft or loss of the Equipment can be limited in some circumstances only to an amount called the Theft Waiver Excess. Eastern Diggers may ask the Customer to pay the Equipment Waiver Plus Fee on the hire of medium and large equipment, but the Customer may decide to opt out of that payment. Credit account customers will have the Equipment Waiver Plus applied to all relevant hires unless the Customer has declined the Waiver on the credit application form or have opted out by providing notice to Eastern Diggers in writing. • The reduced Damage Waiver Excess and the Theft Waiver Excess which apply to medium and large equipment when the Equipment Waiver Plus Fee is paid will be shown on the Hire Contract and will vary for different types of machinery. THEFT WAIVER DOES NOT APPLY AND WILL NOT LIMIT THE CUSTOMER’S LIABILITY FOR THEFT in the following circumstances; • where the Customer has failed to keep the Equipment in a securely locked enclosed area, or in the case of a Motor Vehicle, has failed to properly secure or lock the Motor Vehicle; or • where the Customer has failed to submit to Eastern Diggers a Police Report on the theft within 7 days of the theft allegedly occurring. In the event of Theft Waiver applying, hire fees will be charged to the Customer until the Police Report is provided to Eastern Diggers. Damage Waiver or Theft Waiver will NOT apply where Eastern Diggers determines that any of the applicable circumstances in clauses 6.2(a)-(h) or 6.5(a)-(b) respectively have occurred, unless the Customer is able to establish otherwise to the reasonable satisfaction of Eastern Diggers.
Appears in 1 contract
Samples: Hire Agreement
PPS Law. 19.1 This clause applies to the extent that this Rental Agreement provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law).
19.2 References to PPS Law in this Rental Agreement include references to amended, replacement and successor provisions.
19.3 The Owner Nexxis may register its security interest as a PMSI. The Hirer Customer must do anything (such as obtaining consents and signing documents) which the Owner Nexxis requires for the purposes of:
(a) ensuring that the Owner’s Nexxis’ security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner Nexxis to gain first priority (or any other priority agreed to by the Owner Nexxis in writing) for its security interest; and
(c) enabling the Owner Nexxis to exercise rights in connection with the security interest.
19.4 The Owner Nexxis may recover from the Hirer Customer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 The rights of the Owner Nexxis under this document are in addition to and not in substitution for the Owner’s Nexxis’ rights under other law (including PPS Law) and the Owner Nexxis may choose whether to exercise rights under this document, and/or under other law, as it sees fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply andapply, and for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).of
19.7 The following provisions of the PPS Law confer rights on the OwnerNexxis: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). The Hirer Customer agrees that in addition to those rights, the Owner Nexxis shall, if there is default by the HirerCustomer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer Customer agrees that the Owner Nexxis may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer Customer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner Nexxis and the Hirer Customer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer Customer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Rental Agreement in this sub-clause is made solely for the purposes of allowing the Owner Nexxis the benefit of section 275(6)(a) and the Owner Nexxis shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner Nexxis breaches this sub-clause. 20. SECURITY INTERESTS AND SUB-HIRE
20.1 The Customer must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of Nexxis.
20.2 The Customer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless Nexxis (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to Nexxis and must be expressed to be subject to the rights of Nexxis under this Rental Agreement.
20.3 The Customer may not vary a sub-hire without the prior written consent of Nexxis (in its absolute discretion).
20.4 The Customer must ensure that Nexxis is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of equipment.
20.5 The Customer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Customer to gain (subject always to the rights of Nexxis) first priority (or any other priority agreed to by Nexxis in writing) for the security interest; and
(c) enabling Nexxis and the Customer to exercise their respective rights in connection with the security interest.
20.6 Nexxis may recover from the Customer the cost of doing anything under this clause, including registration fees.
Appears in 1 contract
Samples: Master Rental Agreement
PPS Law. 19.1 27.1 Application of clause
a) This clause applies to the extent that this your Customer Agreement provides for or contains a ‘'security interest’ ' for the purposes of the Personal Property Securities Xxx 0000 PPS Law (Cth) (“PPS Lawor part of it).
19.2 References b) The security interest granted to us is a 'purchase money security interest' to the extent that it can be under section 14 of the PPS Law in this Agreement include references to amended, replacement and successor provisionsLaw.
19.3 The Owner 27.2 Registration and rights
a) We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) : i ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) ; ii enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) and iii enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything b) Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document your Customer Agreement are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the 27.3 PPS applies to the security interest under this agreement, the Law exclusions and waivers
a) The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “‘contracted out” ’ of this your Customer Agreement in respect of all goods to which that section can be appliedare not used predominantly for personal, domestic or household purposes: i section 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); ii section 96 (retention of accession); section 121(4) (notice to grantor); iii section 125 (obligations to dispose of or retain collateral); iv section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hireryou); section 129(2) and 129(3); v section 132(3)(d) (contents of statement of account after disposal); vi section 132(4) (statement of account if no disposal); vii section 135 (notice of retention); viii section 142 (redemption of collateral); and ix section 143 (re-instatement of security agreement).
19.7 b) The following provisions of the PPS Law confer rights on the OwnerLaw: i section 123 (seizing collateral); ii section 126 (apparent possession); iii section 128 (secured party may dispose of collateral); iv section 129 (disposal by purchase); and v section 134(1) (retention of collateral)) vi confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsEquipment during its Security Period, not only under those sections but also, as additional and independent rights, under this document your Customer Agreement and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its c) You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 27.4 Non-disclosure
a) We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this clause.
27.5 No competing security interest
a) You must not create, purport to create or permit to be created any 'security interest' (as defined in PPS Law) in Equipment during its Security Period other than with our express written consent.
27.6 Sub-hiring Equipment during Security Period
a) You must not lease, hire, bail or give possession of (sub-clausehire) the Equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
27.7 Enforceability under PPS Law
a) You must take all steps including registration under PPS Law as may be required to ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law; i enabling us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and ii enabling each of us to exercise our respective rights in connection with the security interest.
Appears in 1 contract
Samples: Customer Agreement
PPS Law. 19.1 22.1 This clause applies to the extent that this Agreement provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law”).
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 22.2 The Owner may register its security interest as a PMSI. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring Ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling Enabling the Owner to gain first priority (or any other priority agreed to by be the Owner in writing) for its security interest; and
(c) enabling Enabling the Owner to exercise rights in connection with the security interest.
19.4 . The Owner may recover from the Hirer the cost of doing anything under this clause, including but by not limited to registration fees.
19.5 22.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under other law, as it sees fit.
19.6 22.4 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give notice to the Hirer); section 96 (retention of accession); section 121(4121 (4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3129 (3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 22.5 The following provisions of the PPS Law confer rights on the Owner: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 22.6 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 57 of the PPS Law.
19.9 22.7 The Owner and the Hirer agree not to disclose information of the kind that can be requested required under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes of allowing the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches this sub-clause.this
Appears in 1 contract
Samples: Plant & Equipment Master Agreement
PPS Law. 19.1 25.1 This clause applies to the extent that this Agreement the agreement we have with you provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”) (or part of it). The security interest granted to us is a ‘purchase money security interest’ (“PMSI”) to the extent that it can be under section 14 of the PPS Law.
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 The Owner 25.2 We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) 25.2.1 ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) 25.2.2 enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) 25.2.3 enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything 25.3 Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document our agreement with you are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the 25.4 The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement our agreement with you in respect of all goods to which that section can be applied: section are not used predominantly for personal, domestic or household purposes:
25.4.1 sections 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section , 96 (retention of accession); section 121(4) (notice to grantor); section , 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 25.5 The following provisions of the PPS Law confer rights on the Owner: Law:
25.5.1 section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral), confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodshardware and/or Loan Equipment, not only under those sections but also, as additional and independent rights, under this document our agreement with you and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its 25.6 You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 25.7 We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
25.8 You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the hardware and/or Loan Equipment other than with our express written consent.
25.9 You must not lease, hire, bail or give possession of (‘sub-hire’) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
25.10 You must take all steps including registration under PPS Law as may be required to:
25.10.1 ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
25.10.2 enabling us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
25.10.3 enabling each of us to exercise our respective rights in connection with the security interest.
25.11 We may recover from you the cost of doing anything under this clause, including registration fees and the costs of notification.
Appears in 1 contract
Samples: Master Agreement
PPS Law. 19.1 37.1 Application of clause
(a) This clause 37 applies to the extent that this Agreement your Customer Contract provides for or contains a ‘'security interest’ ' for the purposes of the Personal Property Securities Xxx 0000 PPS Law (Cth) (“PPS Lawor part of it).
19.2 References (b) The security interest granted to us is a 'purchase money security interest' to the extent that it can be under section 14 of the PPS Law in this Agreement include references to amended, replacement and successor provisionsLaw.
19.3 The Owner 37.2 Registration and rights
(a) We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(ai) ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(bii) enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(ciii) enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything (b) Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document your Customer Contract are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the 37.3 PPS applies to the security interest under this agreement, the Law exclusions and waivers
(a) The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “‘contracted out” ’ of this Agreement your Customer Contract in respect of all goods to which that section can be applied: are not used predominantly for personal, domestic or household purposes:
(i) section 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); ;
(ii) section 96 (retention of accession); section 121(4;
(iii) (notice to grantor); section 125 (obligations to dispose of or retain collateral); ;
(iv) section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hireryou); section 129(2;
(v) and 129(3); section 132(3)(d) (contents of statement of account after disposal); ;
(vi) section 132(4) (statement of account if no disposal); ;
(vii) section 135 (notice of retention); ;
(viii) section 142 (redemption of collateral); and and
(ix) section 143 (re-instatement re‐instatement of security agreement).
19.7 (b) The following provisions of the PPS Law confer rights on the Owner: Law:
(i) section 123 (seizing collateral); ;
(ii) section 126 (apparent possession); ;
(iii) section 128 (secured party may dispose of collateral); ;
(iv) section 129 (disposal by purchase); and and
(v) section 134(1) (retention of collateral)) – confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsEquipment during its Security Period, not only under those sections but also, as additional and independent rights, under this document your Customer Contract and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its (c) You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 37.4 Non‐disclosure We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
37.5 No competing security interest You must not create, purport to create or permit to be created any 'security interest' (as defined in PPS Law) in Equipment during its Security Period other than with our express written consent.
37.6 Sub‐hiring Equipment during Security Period
(a) You must not lease, hire, bail or give possession of (sub‐hire) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub‐hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
(b) You must take all steps including registration under PPS Law as may be required to:
(i) ensure that any security interest arising under or in respect of the sub‐ hire is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enable us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
(iii) enable each of us to exercise our respective rights in connection with the security interest.
37.7 Costs We may recover from you the cost of doing anything under this clause 37, including registration fees and the costs of notification.
Appears in 1 contract
Samples: Customer Terms
PPS Law. 19.1 17.1 This clause applies to the extent that this Agreement Contract provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 17.2 The Owner owner does not have at commencement a PPS Law registration ensuring a perfected first priority Security interest in the Equipment, the Hire Period, (including any extension of the Hire Period or the aggregate of consecutive Hire Periods during which the Customer has substantially uninterrupted possession) may not despite anything else in this document or any Hire Schedule be longer than:
(a) A year in any other case.
17.3 The owner may register its security interest as a PMSIinterest. The Hirer Customer must do anything (such as obtaining consents and signing documents) which the Owner owner requires for the purposes of:
(a) ensuring that the Ownerowner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner owner to gain first priority (or any other priority agreed to by the Owner owner in writing) for its security interest; and
(c) enabling the Owner owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 17.4 The rights of the Owner owner under this document are in addition to and not in substitution for the Ownerowner’s rights under other law (including the PPS Law) and the Owner owner may choose whether to exercise rights under this document, document and/or under such other law, as it sees fit. To avoid any doubt about it the owner’s security interest will attach to proceeds.
19.6 17.5 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner owner to give a notice to the HirerCustomer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner owner to give a notice to the HirerCustomer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 17.6 The following provisions of the PPS Law confer rights on the OwnerLaw: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) confer rights on the owner. The Hirer Customer agrees that in addition to those rights, the Owner owner shall, if there is default by the HirerCustomer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer Customer agrees that the Owner owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licencelicense.
19.8 17.7 The Hirer Customer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 17.8 The Owner owner and the Hirer Customer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer Customer must do everything necessary on its part to ensure that section 275(6)(a276(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner the owner benefit of section 275(6)(a) and the Owner owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
17.9 Customer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of the owner.
17.10 Customer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless the owner (in their absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the owner and must be expressed to be subject to the rights of Pacific Hire under this agreement. Customer may not vary a sub-hire without the prior written consent of the owner (which may be withheld in its absolute discretion).
17.11 Customer must ensure that the owner is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
17.12 Customer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Customer to gain (subject always to the rights of the owner) first priority (or any other priority agreed to by the owner in writing) for the security interest; and
(c) enabling the owner and the Customer to exercise their respective rights in connection with the security interest.
17.13 To assure performance of its obligations under this agreement, the Customer hereby gives the owner an irrevocable power of attorney to do anything the owner considers the Customer should do under this agreement. The owner considers the Customer should do under this agreement. The owner may recover from Customer the cost of doing anything under this clause 5, including registration fees.
Appears in 1 contract
Samples: Hire Agreement
PPS Law. 19.1 o Application of clause o This clause 40 applies to the extent that this Agreement your Customer Contract provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 PPS Law (Cth) (“or part of it). o The security interest granted to us is a ‘purchase money security interest’ to the extent that it can be under section 14 of the PPS Law).
19.2 References to PPS Law in this Agreement include references to amended, replacement . o Registration and successor provisions.
19.3 The Owner rights o We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) : o ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) ; o enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) and o enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything . o Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document your Customer Contract are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the . o PPS applies to the security interest under this agreement, the Law exclusions and waivers o The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “‘contracted out” ’ of this Agreement your Customer Contract in respect of all goods to which that section can be appliedare not used predominantly for personal, domestic or household purposes: o section 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); o section 96 (retention of accession); section 121(4) (notice to grantor); o section 125 (obligations to dispose of or retain collateral); o section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hireryou); section 129(2) and 129(3); o section 132(3)(d) (contents of statement of account after disposal); o section 132(4) (statement of account if no disposal); o section 135 (notice of retention); o section 142 (redemption of collateral); and o section 143 (re-instatement reinstatement of security agreement).
19.7 . o The following provisions of the PPS Law confer rights on the OwnerLaw: o section 123 (seizing collateral); o section 126 (apparent possession); o section 128 (secured party may dispose of collateral); o section 129 (disposal by purchase); and o section 134(1) (retention of collateral)) – confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsEquipment during its Security Period, not only under those sections but also, as additional and independent rights, under this document your Customer Contract and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its . o You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner . o Non-disclosure o We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this clause. o No competing security interest o You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in Equipment during its Security Period other than with our express written consent. o Sub-hiring Equipment during Security Period o You must not lease, hire, bail or give possession of (sub-clausehire) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you. o You must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enable us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
(c) enable each of us to exercise our respective rights in connection with the security interest. o Costs o We may recover from you the cost of doing anything under this clause 40, including registration fees and the costs of notification.
Appears in 1 contract
Samples: Standard Form of Agreement
PPS Law. 19.1 5.1. This clause applies to the extent that this Agreement provides for Contract creates a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law).
19.2 5.2. References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 The Owner 5.3. Mansfield Hire may register its security interest as a PMSI. The Hirer Customer must do anything (such as obtaining consents and signing documents) which the Owner Which Mansfield Hire requires for the purposes of:
(a) ensuring Ensuring that the OwnerMansfield Hire’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner Enabling Mansfield Hire to gain first priority (or any other priority agreed to by the Owner Mansfield Hire in writing) for its security interest; and
(c) enabling the Owner Enabling Mansfield Hire to exercise rights in connection with the security interest.
19.4 The Owner 5.4. Xxxxxxxxx Hire may recover from the Hirer Customer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 5.5. The rights of the Owner Mansfield Hire under this document are in addition to and not in substitution for the OwnerMansfield Hire’s rights under other law (including PPS Law) and the Owner Mansfield Hire may choose whether to exercise rights under this document, and/or under other law, as it sees fit.
19.6 5.6. To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner Mansfield Hire to give notice to the HirerCustomer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner Mansfield Hire to give notice to the HirerCustomer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 5.7. The following provisions of the PPS Law confer rights on the Ownerto Mansfield Hire: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). The Hirer Customer agrees that in addition to those rights, the Owner Mansfield Hire shall, if there is default by the HirerCustomer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer Customer agrees that the Owner Mansfield Hire may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 5.8. The Hirer Customer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 5.9. Mansfield Hire and the Hirer Customer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer Customer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes of allowing the Owner Mansfield Hire the benefit of section 275(6)(a) and the Owner R shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner Mansfield Hire breaches this sub-clause.
Appears in 1 contract
Samples: Hire Contract
PPS Law. 19.1 37.1 Application of clause
(a) This clause 37 applies to the extent that this Agreement your Customer Contract provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 PPS Law (Cth) (“PPS Lawor part of it).
19.2 References (b) The security interest granted to us is a ‘purchase money security interest’ to the extent that it can be under section 14 of the PPS Law in this Agreement include references to amended, replacement and successor provisionsLaw.
19.3 The Owner 37.2 Registration and rights
(a) We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(ai) ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(bii) enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(ciii) enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything (b) Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document your Customer Contract are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the 37.3 PPS applies to the security interest under this agreement, the Law exclusions and waivers
(a) The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “‘contracted out” ’ of this Agreement your Customer Contract in respect of all goods to which that section can be applied: are not used predominantly for personal, domestic or household purposes:
(i) section 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); ;
(ii) section 96 (retention of accession); section 121(4;
(iii) (notice to grantor); section 125 (obligations to dispose of or retain collateral); ;
(iv) section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hireryou); section 129(2;
(v) and 129(3); section 132(3)(d) (contents of statement of account after disposal); ;
(vi) section 132(4) (statement of account if no disposal); ;
(vii) section 135 (notice of retention); ;
(viii) section 142 (redemption of collateral); and and
(ix) section 143 (re-instatement of security agreement).
19.7 (b) The following provisions of the PPS Law confer rights on the Owner: Law:
(i) section 123 (seizing collateral); ;
(ii) section 126 (apparent possession); ;
(iii) section 128 (secured party may dispose of collateral); ;
(iv) section 129 (disposal by purchase); and and
(v) section 134(1) (retention of collateral)) – confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsEquipment during its Security Period, not only under those sections but also, as additional and independent rights, under this document your Customer Contract and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its (c) You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 37.4 Non-disclosure We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this clause.
37.5 No competing security interest Without our express prior written consent, You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in Equipment during its Security Period.
37.6 Sub-hiring Equipment during Security Period
(a) You must not lease, hire, bail or give possession of (sub-clausehire) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
(b) You must take all steps including registration under PPS Law as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(c) enabling us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
(d) enabling each of us to exercise our respective rights in connection with the security interest.
Appears in 1 contract
Samples: Customer Terms and Conditions
PPS Law. 19.1 This clause applies to the extent that this Agreement provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law).
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 The Owner may register its security interest as a PMSI. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring Ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling Enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling Enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under other law, as it sees fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-re- instatement of security agreement).
19.7 The following provisions of the PPS Law confer rights on the Owner: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). .
19.8 The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 19.9 The Hirer acknowledges that in all circumstances the Owner retains title to the Hire Equipment (even if the Hirer goes into liquidation, external administration of any kind or becomes bankrupt during the Hire Period) and in no circumstances will the Hire Equipment be deemed to be a fixture. The Hirer has no interest in the Hire Equipment of any kind whatsoever other than an interest as a Bailee;
(i) Except with the prior written consent of the Owner, the Hirer will not be entitled to offer, transfer, sell, assign, sub-let, encumber, charge, mortgage, pledge or otherwise deal with the Hire Equipment in any way whatsoever.
19.10 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 19.11 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes of allowing the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches this sub-clause.
Appears in 1 contract
Samples: Agreement for the Hire of Elevating Work Platforms (Ewps) and Other Equipment
PPS Law. 19.1 11.1 This clause applies to the extent that the Owner’s interest in respect of a hire provided for in this Agreement provides for is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 11.2 The Owner may register its any actual impending or likely security interest as interest. The Hirer may not make any Claim against the Owner in respect of any registration even if it is determined that the Owner should not have registered a PMSIsecurity interest. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 11.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it the Owner’s security interest will attach to proceeds.
19.6 11.4 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreementAgreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents 132(3)(d)(contents of statement of account after disposal); section 132(4) (statement 132(4)(statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 section143 (re-instatement of security agreementAgreement).
19.7 11.5 The following provisions of the PPS Law confer rights on the Owner: Law; section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) may, if applicable, confer rights on the Owner. The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 11.6 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security Agreements prior to the date of this Agreement.
19.9 11.7 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes purpose of allowing to the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
11.8 The Hirer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of the Owner. The Hirer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless the Owner (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the Owner and must be expressed to be subject to the rights of the Owner under this Agreement. The Hirer may not vary a sub-hire without the prior written consent of the Owner (which may be withheld in its absolute discretion).
11.9 The Hirer must ensure that the Owner is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
11.10 The Hirer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Hirer to gain (subject always to the rights of the Owner) first priority (or any other priority agreed to by the Owner in writing) for the security interest; and
(c) enabling the Owner and the Hirer to exercise their respective rights in connection with the security interest.
11.11 To assure performance of its obligations under this Agreement, the Hirer hereby gives the Owner an irrevocable power of attorney to do anything the Owner considers the Hirer should do under this Agreement. The Owner may recover from the Hirer the cost of doing anything under this clause, including registration fees.
Appears in 1 contract
Samples: Dry Hire Agreement
PPS Law. 19.1 27.1 Application of clause
a) This clause applies to the extent that this your Customer Agreement provides for or contains a ‘'security interest’ ' for the purposes of the Personal Property Securities Xxx 0000 PPS Law (Cth) (“PPS Lawor part of it).
19.2 References b) The security interest granted to us is a 'purchase money security interest' to the extent that it can be under section 14 of the PPS Law in this Agreement include references to amended, replacement and successor provisionsLaw.
19.3 The Owner 27.2 Registration and rights
a) We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) : ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) ; enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) and enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything b) Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document your Customer Agreement are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the 27.3 PPS applies to the security interest under this agreement, the Law exclusions and waivers
a) The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “‘contracted out” ’ of this your Customer Agreement in respect of all goods to which that section can be appliedare not used predominantly for personal, domestic or household purposes: section 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hirer); section 129(2) and 129(3you); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 b) The following provisions of the PPS Law confer rights on the OwnerLaw: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodsEquipment during its Security Period, not only under those sections but also, as additional and independent rights, under this document your Customer Agreement and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its c) You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 27.4 Non-disclosure
a) We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this clause.
27.5 No competing security interest
a) You must not create, purport to create or permit to be created any 'security interest' (as defined in PPS Law) in Equipment during its Security Period other than with our express written consent.
27.6 Sub-hiring Equipment during Security Period
a) You must not lease, hire, bail or give possession of (sub-clausehire) the Equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
27.7 Enforceability under PPS Law
a) You must take all steps including registration under PPS Law as may be required to ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law; enabling us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and enabling each of us to exercise our respective rights in connection with the security interest.
Appears in 1 contract
Samples: Customer Agreement
PPS Law. 19.1 22.1 This clause applies to the extent that this Agreement provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law).
19.2 22.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 22.3 The Owner may register its security interest as a PMSI. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling the Owner to exercise rights in connection with the security interest.
19.4 22.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 22.5 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under other law, as it sees fit.
19.6 22.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 22.7 The following provisions of the PPS Law confer rights on the Owner: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 22.8 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 22.9 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes of allowing the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches this sub-clause.
Appears in 1 contract
Samples: Master Agreement for the Hire of Party and Event Equipment
PPS Law. 19.1 (a) This clause applies to the extent that the Owner’s interest in respect of a Hire as provided for in this Agreement provides for agreement is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law).
19.2 (b) References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 (c) The Owner may register its any actual impending or likely security interest as interest. The Hirer may not make any Claim against the Owner in respect of any registration even if it is determined that the Owner should not have registered a PMSIsecurity interest. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(ai) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the underthe PPS Law;
(bii) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(ciii) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 (d) The rights of the Owner under this document agreement are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it the Owner’s security interest will attach to proceeds.
19.6 (e) To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer); section 96 (retention of accessionofaccession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 (f) The following provisions of the PPS Law confer rights on the Owner: being section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) may, if applicable, confer rights on the Owner. The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document agreement and the Hirer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 (g) The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security agreements prior to the date of this agreement.
19.9 (h) The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of 275(6)(a)of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing to the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
(i) The Hirer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consentof the Owner. The Hirer must not lease, hire, bail or give possession (sub-hire) of the Equipment to anyoneelse unless the Owner (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the Owner and must be expressed to be subject to the rights of the Owner under this agreement. The Hirer may not vary a sub-hire without the prior written consent of the Owner (which may be withheld in its absolute discretion).
(j) The Hirer must ensure that the Owner is provided at all times with up-to-date information about the sub-hireincluding the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
(k) The Hirer must take all steps including registration under PPS Law as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enabling the Hirer to gain (subject always to the rights of the Owner) first priority (or any otherpriority agreed to by the Owner in writing) for the security interest; and
(iii) enabling the Owner and the Hirer to exercise their respective rights in connection with the security interest.
Appears in 1 contract
Samples: Master Equipment Hire Agreement
PPS Law. 19.1 11.1 This clause applies to the extent that the Owner’s interest in respect of a hire provided for in this Agreement provides for agreement is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 11.2 The Owner may register its any actual impending or likely security interest as interest. The Hirer may not make any Claim against the Owner in respect of any registration even if it is determined that the Owner should not have registered a PMSIsecurity interest. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 11.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it the Owner’s security interest will attach to proceeds.
19.6 11.4 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents 132(3)(d)(contents of statement of account after disposal); section 132(4) (statement 132(4)(statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 section143 (re-instatement of security agreement).
19.7 11.5 The following provisions of the PPS Law confer rights on the Owner: Law; section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) may, if applicable, confer rights on the Owner. The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 11.6 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security agreements prior to the date of this agreement.
19.9 11.7 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing to the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if in respect of any actual or threatened breach of this sub- clause.
11.8 The Hirer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of the Owner. The Hirer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless the Owner breaches this (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the Owner and must be expressed to be subject to the rights of the Owner under this agreement. The Hirer may not vary a sub-hire without the prior written consent of the Owner (which may be withheld in its absolute discretion).
11.9 The Hirer must ensure that the Owner is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
11.10 The Hirer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Hirer to gain (subject always to the rights of the Owner) first priority (or any other priority agreed to by the Owner in writing) for the security interest; and
(c) enabling the Owner and the Hirer to exercise their respective rights in connection with the security interest.
11.11 To assure performance of its obligations under this agreement, the Hirer hereby gives the Owner an irrevocable power of attorney to do anything the Owner considers the Hirer should do under this agreement. The Owner may recover from the Hirer the cost of doing anything under this clause, including registration fees.
11.12 The Hirer must give the Owner at least 30 days’ prior notice of any change in business structure of the Hirer or if it becomes trustee of a trust or a partner in a partnership, together with details of the proposed new structure including any ABN issued to the trust or partnership.
Appears in 1 contract
Samples: Master Equipment Hire Agreement
PPS Law. 19.1 22.1. This clause applies to the extent that this Agreement the agreement we have with you provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”) (or part of it). The security interest granted to us is a ‘purchase money security interest’ (“PMSI”) to the extent that it can be under section 14 of the PPS Law.
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 The Owner 22.2. We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) 22.2.1. ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) 22.2.2. enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) 22.2.3. enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything 22.3. Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document our agreement with you are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the 22.4. The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement our agreement with you in respect of all goods to which that section can be applied: section are not used predominantly for personal, domesticorhousehold purposes:
22.4.1. sections 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section , 96 (retention of accession); section 121(4) (notice to grantor); section , 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hirer); section 129(2) and 129(3you); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 22.5. The following provisions of the PPS Law confer rights on the Owner: Law:
22.5.1. section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral), confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodshardware and/or Loan Equipment, not only under those sections but also, as additional and independent rights, under this document our agreement with you and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its 22.6. You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 22.7. We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
22.8. You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the hardware and/or Loan Equipment other than with our express written consent.
22.9. You must not lease, hire, bail or give possession of (‘sub-hire’) the equipment to anyone else unless we (in our absolute discretion) first consent in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
22.10. You must take all steps including registration under PPS Law as may be required to:
22.10.1. ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
22.10.2. enabling us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
22.10.3. enabling each of us to exercise our respective rights in connection with the security interest.
22.11. We may recover from you the cost of doing anything under this clause, including registration fees and the costs of notification.
Appears in 1 contract
Samples: Master Terms
PPS Law. 19.1 5.1 This clause applies to the extent that this Agreement Contract provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 The Owner 5.2 Kennards may register its security interest as a PMSIinterest. The Hirer Customer must do anything (such as obtaining consents and signing documents) which the Owner Xxxxxxxx requires for the purposes of:
(a) ensuring that the Owner’s Xxxxxxxx’ security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner Xxxxxxxx to gain first priority (or any other priority agreed to by the Owner Xxxxxxxx in writing) for its security interest; and
(c) enabling the Owner Xxxxxxxx to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 5.3 The rights of the Owner Xxxxxxxx under this document are in addition to and not in substitution for the Owner’s Kennards’ rights under other law (including the PPS Law) and the Owner Kennards may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it Xxxxxxxx security interest will attach to proceeds.
19.6 5.4 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreementagree- ment, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner Kennards to give a notice to the HirerCustomer); section 96 (retention of accession); section 121(4section121(4) (notice to grantor); section 125 section125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).Kennards to
19.7 5.5 The following provisions of the PPS Law confer rights on the OwnerLaw: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) confer rights on Kennards. The Hirer Customer agrees that in addition to those rights, the Owner Xxxxxxxx shall, if there is default by the HirerCustomer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer Customer agrees that the Owner Xxxxxxxx may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 5.6 The Hirer Customer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 5.7 Kennards and the Hirer Customer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer Customer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to Kennards the benefit of section 275(6)(a275 (6)(a) and the Owner Kennards shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
5.8 Customer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of Kennards.
5.9 Customer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless Kennards (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to Xxxxxxxx and must be expressed to be subject to the rights of Xxxxxxxx under this agreement. Customer may not vary a sub-hire without the prior written consent of Kennards (which may be withheld in its absolute discretion).
5.10 Customer must ensure that Kennards is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
5.11 Customer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforce- able, perfected and otherwise effective under the PPS Law;
(b) enabling the Customer to gain (subject always to the rights of Xxxxxxxx) first priority (or any other priority agreed to by Xxxxxxxx in writing) for the security interest; and
(c) enabling Xxxxxxxx and the Customer to exercise their respective rights in connection with the security interest.
Appears in 1 contract
Samples: Hire Contract
PPS Law. 19.1 22.1 This clause applies to the extent that this Agreement provides for a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law”).
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 22.2 The Owner may register its security interest as a PMSI. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring Ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling Enabling the Owner to gain first priority (or any other priority agreed to by be the Owner in writing) for its security interest; and
(c) enabling Enabling the Owner to exercise rights in connection with the security interest.
19.4 . The Owner may recover from the Hirer the cost of doing anything under this clause, including but by not limited to registration fees.
19.5 22.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under other law, as it sees fit.
19.6 22.4 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give notice to the Hirer); section 96 (retention of accession); section 121(4121 (4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give notice to the Hirer); section 129(2) and 129(3129 (3); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 22.5 The following provisions of the PPS Law confer rights on the Owner: section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral). The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.including
19.8 22.6 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 57 of the PPS Law.
19.9 22.7 The Owner and the Hirer agree not to disclose information of the kind that can be requested required under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement in this sub-clause is made solely for the purposes of allowing the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches this sub-clause.
Appears in 1 contract
Samples: Plant & Equipment Master Agreement
PPS Law. 19.1 11.1 This clause applies to the extent that the Owner’s interest in respect of a hire provided for in this Agreement provides for agreement is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 11.2 The Owner may register its any actual impending or likely security interest as interest. The Hirer may not make any Claim against the Owner in respect of any registration even if it is determined that the Owner should not have registered a PMSIsecurity interest. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 11.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it the Owner’s security interest will attach to proceeds.
19.6 11.4 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents 132(3)(d)(contents of statement of account after disposal); section 132(4) (statement 132(4)(statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 section143 (re-instatement of security agreement).
19.7 11.5 The following provisions of the PPS Law confer rights on the Owner: Law; section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) may, if applicable, confer rights on the Owner. The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 11.6 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security agreements prior to the date of this agreement.
19.9 11.7 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing to the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if in respect of any actual or threatened breach of this sub- clause.
11.8 The Hirer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of the Owner. The Hirer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless the Owner breaches this (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the Owner and must be expressed to be subject to the rights of the Owner under this agreement. The Hirer may not vary a sub-hire without the prior written consent of the Owner (which may be withheld in its absolute discretion).
11.9 The Hirer must ensure that the Owner is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
11.10 The Hirer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Hirer to gain (subject always to the rights of the Owner) first priority (or any other priority agreed to by the Owner in writing) for the security interest; and
(c) enabling the Owner and the Hirer to exercise their respective rights in connection with the security interest.
11.11 To assure performance of its obligations under this agreement, the Hirer hereby gives the Owner an irrevocable power of attorney to do anything the Owner considers the Hirer should do under this agreement. The Owner may recover from the Hirer the cost of doing anything under this clause, including registration fees.
11.12 The Hirer must give the Owner at least 30 days’ prior notice of any change in business structure of the Hirer or if it becomes trustee of a trust or a partner in a partnership, together with details of the proposed new structure including any ABN issued to the trust or partnership.
Appears in 1 contract
Samples: Master Equipment Hire Agreement
PPS Law. 19.1 11.1 This clause applies to the extent that the Owner’s interest in respect of a hire provided for in this Agreement provides for agreement is a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”).
19.2 . References to PPS Law in this Agreement agreement include references to amended, replacement and successor provisionsprovisions or legislation.
19.3 11.2 The Owner may register its any actual impending or likely security interest as interest. The Hirer may not make any Claim against the Owner in respect of any registration even if it is determined that the Owner should not have registered a PMSIsecurity interest. The Hirer must do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of:
(a) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest; and
(c) enabling the Owner to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything under this clause, including but not limited to registration fees.
19.5 11.3 The rights of the Owner under this document are in addition to and not in substitution for the Owner’s rights under other law (including the PPS Law) and the Owner may choose whether to exercise rights under this document, and/or under such other law, as it sees fit. To avoid any doubt about it the Owner’s security interest will attach to proceeds.
19.6 11.4 To the extent that Chapter 4 of the PPS PPSA applies to the any security interest under this agreement, the following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement agreement in respect of all goods to which that section can be applied: section 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer); section 96 (retention of accession); section 121(4) (notice to grantor); section 125 (obligations to dispose of or retain collateral); section 121(4) (notice of grantor); section 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner to give a notice to the Hirer); section 129(2) and 129(3); section 132(3)(d) (contents 132(3)(d)(contents of statement of account after disposal); section 132(4) (statement 132(4)(statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 section143 (re-instatement of security agreement).
19.7 11.5 The following provisions of the PPS Law confer rights on the Owner: Law; section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral)) may, if applicable, confer rights on the Owner. The Hirer agrees that in addition to those rights, the Owner shall, if there is default by the Hirer, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under those sections but also, as additional and independent rights, under this document and the Hirer agrees that the Owner may do so in any manner it sees fit, fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 11.6 The Hirer waives its rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law. This waiver also extends to any verification statement in respect of security interests arising or provided for under security agreements prior to the date of this agreement.
19.9 11.7 The Owner and the Hirer agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer must do everything necessary on its part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing to the Owner the benefit of section 275(6)(a) and the Owner shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches in respect of any actual or threatened breach of this sub-clause.
11.8 The Hirer must not dispose or purport to dispose of, or create or purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the Equipment other than with the express written consent of the Owner. The Hirer must not lease, hire, bail or give possession (‘sub-hire’) of the Equipment to anyone else unless the Owner (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to the Owner and must be expressed to be subject to the rights of the Owner under this agreement. The Hirer may not vary a sub-hire without the prior written consent of the Owner (which may be withheld in its absolute discretion).
11.9 The Hirer must ensure that the Owner is provided at all times with up-to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
11.10 The Hirer must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Hirer to gain (subject always to the rights of the Owner) first priority (or any other priority agreed to by the Owner in writing) for the security interest; and
(c) enabling the Owner and the Hirer to exercise their respective rights in connection with the security interest.
11.11 To assure performance of its obligations under this agreement, the Hirer hereby gives the Owner an irrevocable power of attorney to do anything the Owner considers the Hirer should do under this agreement. The Owner may recover from the Hirer the cost of doing anything under this clause, including registration fees.
Appears in 1 contract
Samples: Terms & Conditions of Hire
PPS Law. 19.1 23.1 This clause applies to the extent that this Agreement the agreement we have with you provides for or contains a ‘security interest’ for the purposes of the Personal Property Securities Xxx 0000 Act 2009 (Cth) (“PPS Law”) (or part of it). The security interest granted to us is a ‘purchase money security interest’ (“PMSI”) to the extent that it can be under section 14 of the PPS Law.
19.2 References to PPS Law in this Agreement include references to amended, replacement and successor provisions.
19.3 The Owner 23.2 We may register its our security interest as a PMSIinterest. The Hirer You must do anything (such as obtaining consents and signing documents) which the Owner requires we require for the purposes of:
(a) ensuring that the Owner’s our security interest is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling the Owner us to gain first priority (or any other priority agreed to by the Owner us in writing) for its our security interest; and
(c) enabling the Owner us to exercise rights in connection with the security interest.
19.4 The Owner may recover from the Hirer the cost of doing anything 23.3 Our rights under this clause, including but not limited to registration fees.
19.5 The rights of the Owner under this document our agreement with you are in addition to and not in substitution for the Owner’s our rights under other law (including the PPS Law) and the Owner we may choose whether to exercise rights under this document, our agreement and/or under such other law, as it sees we see fit.
19.6 To the extent that Chapter 4 of the PPS applies to the security interest under this agreement, the 23.4 The following provisions of the PPS Law do not apply and, for the purposes of section 115 of the PPS Law are “contracted out” of this Agreement our agreement with you in respect of all goods to which that section can be applied: section are not used predominantly for personal, domestic or household purposes:
(a) sections 95 (notice of removal of accession to the extent it requires the Owner us to give a notice to the Hireryou); section , 96 (retention of accession); section 121(4) (notice to grantor); section , 125 (obligations to dispose of or retain collateral); section 130 (notice of disposal to the extent it requires the Owner us to give a notice to the Hirer); section 129(2) and 129(3you); section 132(3)(d) (contents of statement of account after disposal); section 132(4) (statement of account if no disposal); section 135 (notice of retention); section 142 (redemption of collateral); and section 143 (re-instatement of security agreement).
19.7 23.5 The following provisions of the PPS Law confer rights on the Owner: Law:
(a) section 123 (seizing collateral); section 126 (apparent possession); section 128 (secured party may dispose of collateral); section 129 (disposal by purchase); and section 134(1) (retention of collateral), confer rights on us. The Hirer agrees You agree that in addition to those rights, the Owner we shall, if there is default by the Hireryou, have the right to seize, purchase, take possession or apparent possession, retain, deal with or dispose of any goodshardware and/or Loan Equipment, not only under those sections but also, as additional and independent rights, under this document our agreement with you and the Hirer agrees you agree that the Owner we may do so in any manner it sees fit, we see fit including (in respect of dealing and disposal) by private or public sale, lease or licence.
19.8 The Hirer waives its 23.6 You waive your rights to receive a verification statement in relation to registration events in respect of commercial property under section 157 of the PPS Law.
19.9 The Owner 23.7 We and the Hirer you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. The Hirer You must do everything necessary on its your part to ensure that section 275(6)(a) of the PPS Law continues to apply. The Agreement agreement in this sub-clause is made solely for the purposes purpose of allowing the Owner to us the benefit of section 275(6)(a) and the Owner we shall not be liable to pay damages or any other compensation or be subject to injunction if the Owner breaches we breach this sub-clause.
23.8 You must not create, purport to create or permit to be created any ‘security interest’ (as defined in PPS Law) in the hardware and/or Loan Equipment other than with our express written consent.
23.9 You must not lease, hire, bail or give possession of (‘sub- hire’) the equipment to anyone else unless we (in our absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to us and must be expressed to be subject to our rights under our agreement with you.
23.10 You may not vary a sub-hire without our prior written consent (in our absolute discretion).
23.11 You must ensure that we are provided at all times with up- to-date information about the sub-hire including the identity of the sub-hirer, the terms of and state of accounts and payment under the sub-hire and the location and condition of our hardware and/or Loan Equipment.
23.12 You must take all steps including registration under PPS Law as may be required to:
(a) ensure that any security interest arising under or in respect of the sub-hire is enforceable, perfected and otherwise effective under the PPS Law;
(b) enabling you us to gain (subject always to our rights) first priority (or any other priority we agree to in writing) for the security interest; and
(c) enabling each of us to exercise our respective rights in connection with the security interest.
23.13 To assure performance of your obligations, you hereby give us an irrevocable power of attorney to do anything we consider you should do under our agreement with you.
23.14 We may recover from you the cost of doing anything under this clause, including registration fees and the costs of notification.
Appears in 1 contract
Samples: Master Terms Agreement