PPSA Sample Clauses

PPSA. 12.1 Terms used in clause 12 that are defined in the PPSA have the same meaning as in the PPSA. 12.2 Without limitation to other rights of the Company, from the time the Goods are in the possession of the Company or a Subcontractor, the Goods are subject to a continuing security interest in favour of the Company for the payment of all amounts due and owing by the Customer under the Agreement. 12.3 The Customer acknowledges and consents to the Company's registration and perfection of the Company's security interest under the Agreement for the purposes of the PPSA. 12.4 The Customer will not grant a security interest to another person, or allow any encumbrance to arise, in respect of the Goods. 12.5 To the extent permitted by law, the Customer irrevocably waives any right it may have to: (a) receive notices or statements under sections 95, 118, 121(4), 124(4), 125, 130, 132(3)(d) 132(4) and 135 of the PPSA; and (b) redeem the Goods under section 142 of the PPSA; (c) reinstate this Agreement under section 143 of the PPSA; and (d) receive a verification statement. 12.6 The Customer will do all things and execute all documents reasonably necessary to give effect to the security interest created under this Agreement or comply with any reasonable request by the Company in connection with the PPSA.
AutoNDA by SimpleDocs
PPSA. (a) This clause applies to the extent that the Personal Property Securities Xxx 0000 (Cth) (“PPSA”) operates in relation to any “security interest” (as defined in PPSA) under this Agreement. (b) This document constitutes a security agreement in writing covering the Equipment for the purposes of the PPSA. (c) The Equipment referred to in this Agreement, is a security interest and a “purchase money security interest” (“PMSI”) to the extent that it can be under section 14 of the PPSA. (d) The Hirer agrees, in addition, to the extent possible under PPSA, that all Equipment which is at any time subject to the Owner’s security interest, secures as a PMSI the interest of the Owner as either Xxxxxx or Lessor (as the circumstances dictate) of all Equipment supplied to the Hirer. This does not limit what other amounts are secured under this Agreement. (e) The Hirer agrees to do anything (such as obtaining consents and signing documents) which the Owner requires for the purposes of: (i) ensuring that the Owner’s security interest is enforceable, perfected and otherwise effective under the PPSA; (ii) enabling the Owner to gain first priority (or any other priority agreed to by the Owner in writing) for its security interest, and (iii) enabling the Owner to exercise rights in connection with the security interest. (f) The Owner’s rights under this Agreement are in addition to and not in substitution for the Owner’s rights under any other law (including PPSA) and the Owner may choose whether to exercise rights under this Agreement, or under such other law, as it chooses. (g) The following provisions of the PPSA do not apply and, for the purposes of section 115 are “contracted out” of this Agreement in respect of Equipment that is not used predominately for personal, domestic or household purposes: (i) sections 95 (notice of removal of accession to the extent it requires the Owner to give a notice to the Hirer), 96 (retention of accession), 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 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 contract); and (ii) in relation to section 128 (secured party may dispose of collateral), section 129 (disposal by purchase) and 134(1) (retenti...
PPSA. (a) The Client hereby grants to Powernet a security interest over the Equipment to secure the payment of any unpaid balance of the price of, and any other Fees relating to, the Equipment (Equipment Fees). Such security is a ‘purchase money security interest’ (PMSI) to the extent that it can be under section 14 of the PPSA. (b) The Client consents to Powernet registering a financing statement in the PPS Register in respect of the Security Interest so granted. (c) The Client must do anything (such as obtaining consents and signing documents) which Powernet require for the purposes of: (i) ensuring that Powernet’s security interest is enforceable, perfected and otherwise effective under the PPS Law; (ii) enabling Powernet to gain first priority (or any other priority agreed to Powernet in writing) for Powernet’s security interest; and (iii) enabling Powernet to exercise rights in connection with the security interest. (d) The Client must not deal with (including dispose or create another security interest in) any Equipment without first obtaining the written consent of Powernet, until the Equipment Fees are paid in full. (e) Unless required by an applicable law that cannot be excluded Powernet may exercise any right under the Agreement or conferred by law without giving notice to the Client or allowing for the elapse of any period of time. (f) Where the law requires that a period of time be fixed or stipulated for any notice or lapse of time, then 1 day is the period is fixed and stipulated. (g) The Client waives the requirement for Powernet to give notice under the PPSA where notice can be waived, including under sections 95, 118, 121(4), 130 and 157 of the PPSA. (h) To the extent that Chapter 4 of the PPSA would otherwise apply to enforcement by the secured party of any security interest in the Equipment, the parties agree that the following provisions of the PPSA are excluded: (i) to the extent permitted by section 115(1) of the PPSA: sections 125, 132(3)(d), 132(4), 142 and 143 of the PPSA; and (ii) to the extent permitted by section 115(7) of the PPSA: sections 132 and 137. (i) Powernet’s rights under the Agreement are in addition to and not in substitution for Powernet’s rights under law (including the PPSA) and Powernet may choose whether to exercise rights under the Agreement, and/or under such law, as Powernet sees fit. (j) The parties agree not to disclose information of the kind that can be requested under section 275(1) of the PPSA. The Client mus...
PPSA. If we determine that this Agreement (or any transaction in connection with it) contains a Security Interest for the purposes of the PPSA, you acknowledge that we will be entitled to Perfect such Security Interest by registration on the Register. You waive any entitlements under the PPSA regarding notices. You agree, at our request, to do all acts, matters and things necessary to ensure we hold a valid and Perfected Security Interest. Non-compliance by you with this clause will constitute a breach of this Agreement. Any cost associated with the enforcement of our rights under the PPSA will be payable by you. In this clause PPSA means the Personal Property and Securities Xxx 0000 (Cth), and Security Interest, Perfected and Register have the meanings given to those terms in the PPSA.
PPSA. 10.1 We may register any actual or impending security interest (in any manner We consider appropriate) in relation to any security interest contemplated or constituted by this Hire Agreement in the Equipment and the proceeds arising in respect of any dealing in the Equipment. 10.2 You undertake to: (a) do anything that is required by Us (i) so that We acquire and maintain one or more perfected security interests under the PPSA in respect of the Equipment and its proceeds, (ii) to register a financing statement or financing change statement and (iii) to ensure that Our security position, and rights and obligations, are not adversely affected by the PPSA; (b) not register a financing change statement in respect of a security interest contemplated or constituted by this Hire Agreement without Our prior written consent; and (c) not create or purport to create any security interest in the Equipment, nor register, or permit to be registered, a financing statement or a financing change statement in relation to the Equipment in favour of a third party without Our prior written consent. 10.3 You : (a) waive Your right under section 157 of the PPSA to receive a copy of the verification statement relating to a security interest created under the Hire Agreement; (b) agree that to the extent permitted by the PPSA, the following provisions of the PPSA will not apply and are contracted out of : section 95 (to the extent that it requires the secured party to give notices to the grantor); section 96; section 118 (to the extent that it allows a secured party to give notices to the grantor); section 121(4); section 125; section 130; section 132(3)(d); section 132(4); section 135; section 142 and section 143; and (c) agree that the following provisions of the PPSA will not apply and You will have no rights under them: section 127; section 129(2) and (3); section 130(1); section 132; section 134(2); section 135; section 136(3), (4) and (5) and section 137. 10.4 Unless otherwise agreed and to the extent permitted by the PPSA, You and We agree not to disclose information of the kind referred to in section 275(1) of the PPS Act to an interested person, or any other person requested by an interested person. You waive any right You may have, or but for this clause may have had, under section 275(7)(c) of the PPSA to authorise the disclosure of the above information. 10.5 For the purposes of section 20(2) of the PPSA, the collateral is Equipment including any Equipment which is desc...
PPSAThe Borrower agrees that nothing in sections 114(1)(a), 133 and 134 of the PPSA shall apply to this agreement and waives any rights under sections under sections 116, 120(2), 121, 125, 129, 131 and 148 of the PPSA.
PPSA. 8.1 Without limiting anything else in these Terms, the Buyer grants to the Seller a security interest in the Goods (and all Resultant Crops and proceeds) so as to secure all payments under the Agreement and all monies owing by the Buyer to the Seller. The Buyer agrees to do all things necessary to enable the Seller to register a financing statement on the Personal Property Securities Register (PPSR) and to ensure that the security interest is a first ranking perfected security interest over all the Goods and proceeds. 8.2 If the Goods subsequently becomes part of some other product or mass, then nothing in these Terms shall limit the application of sections 82 to 86 of the PPSA. 8.3 The Buyer waives its right to receive a copy of any verification statement in respect of any financing statement or financing change statement relating to the security interest. 8.4 The Buyer agrees that nothing in sections 114(1)(a), 120(1), 122, 133 or 134 of the PPSA will apply. The Buyer agrees to waive its rights as a debtor under sections 116, 120(2), 121, 125, 126, 127, 129 and 131 of the PPSA to the extent that these rights may be waived under section 107(2) of the PPSA.
AutoNDA by SimpleDocs
PPSA. If Krannich Solar determines, in its absolute discretion, that the PPSA applies to any transaction under this Agreement, the Customer agrees that: 10.1. it grants a first ranking security interest and purchase money security interest in the Goods and the proceeds arising in respect of any dealings in the Goods for the purpose of the PPSA, as security for all amounts owing now or in the future, which is a continuing security despite any settlement of account or other matter or thing until a final discharge is given to Krannich Solar (where applicable), and that it waives the right to receive any verification statement relating to the security interest created in this Agreement; 10.2. it will do things necessary (such as obtaining consents and signing documents) to enable Krannich Solar to register and perfect its security interest in the Goods and its proceeds and, if requested by Krannich Solar, will not take possession of the Goods unless Krannich Solar has registered a financing statement designating a purchase money security interest over them; 10.3. not register a financing charge statement in the respect of security interest contemplated or constituted by this Agreement without Krannich Solar’s prior written consent, and will not create any security interest in the Goods, nor register or permit to be registered a financing statement or finance charge statement in relation to the Goods in favour of a third party without Krannich Solar’s prior written consent; 10.4. Krannich Solar may appropriate (or re-appropriate despite any prior appropriation) moneys received in respect of the Customer at its absolute discretion towards any part of the amounts owing in this Agreement, including in order to maximise the extent to which it can have recourse to its security interest in the Goods held by the Customer; 10.5. to the extent permitted by the PPSA, sections 95, 96, 117, 118, 121(4), 125, 127, 129(2) and (3), 130, 132, 134(2) 135, 142 and 143 of the PPSA do not apply to the obligations owed between Krannich Solar and the Customer in accordance with this Agreement and the Customer has no rights under them; and 10.6. to promptly notify Krannich Solar of any changes in writing of the Customer’s details set out in the Customer Account.
PPSA. You must: 20.1. Not register or otherwise perfect or seek to perfect, and use best endeavours to ensure that no third party registers or otherwise perfects or seeks to perfect, any security interest in or in connection with the Contract, or the Goods (whether under the Personal Property Securities Act 2009 (Cth) or otherwise); 20.2. Remove from, and use best endeavours to ensure third parties remove from, any relevant register any security interest in or in connection with the Contract, or the Goods that You or such other third party has previously registered; and 20.3. Ensure all subcontracts (if any) entered into by You in connection with the Goods and Services have, for the benefit of Us, a clause that reflects this clause 20.
PPSA. Where BGC makes a payment in advance of delivery of any Goods, the Vendor charges the Goods (including any item identified for incorporation into the Goods) to BGC with its obligations under this Agreement and consents to BGC registering its interest in the Goods on the Personal Property Security Register and will sign all documents and provide all information and assistance required to effect that registration. To the extent that the law permits the Vendor waives its rights to receive any notice required from BGC (or any of its related entities) under any provision of the Personal Property Securities Xxx 0000 (Cth) (PPSA) (including a notice of a verification statement). However nothing in this clause prohibits BGC (or its related entities) from giving a notice under the PPSA or any other law.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!