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.
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...
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. (a) In this clause, the words ‘Accession’, ‘Commingled’, ‘Financing Statement’, ‘Grantor’, ‘Personal Property’, ‘Proceeds’, ‘Security Interest’ and ‘Verification Statement’ have the meanings given to them in the PPSA.
(b) The parties acknowledge that this Agreement may constitute a Security Interest in favour of DMF Engineering Pty Ltd.
(c) If DMF Engineering Pty Ltd determines that this Agreement (or a transaction in connection with it) is or contains a Security Interest, the Supplier agrees to do anything (including obtaining consents, signing and producing documents, getting documents completed and signed and supplying information) which DMF Engineering Pty Ltd asks and considers necessary for the purposes of:
(i) ensuring that the Security Interest is enforceable, perfected and otherwise effective;
(ii) enabling DMF Engineering Pty Ltd to apply for any registration, complete any Financing Statement or give any notification, in connection with the Security Interest; or
(iii) enabling DMF Engineering Pty Ltd to exercise rights in connection with the Security Interest.
(d) DMF Engineering Pty Ltd is not required to give any notice under the PPSA (including notice of a Verification Statement) unless the notice is required by the PPSA to be given (even though the parties have waived the right to receive notice).
(e) The Supplier must notify DMF Engineering Pty Ltd as soon as the Supplier becomes aware of any of the following:
(i) if any Personal Property which does not form part of DMF Engineering Pty Ltd’s Personal Property becomes an Accession to DMF Engineering Pty Ltd’s Personal Property and is subject to a Security Interest in favour of a third party;
(ii) if any of DMF Engineering Pty Ltd’s Personal Property is located or situated outside Australia or, upon request by DMF Engineering Pty Ltd, of the present location or situation of any of DMF Engineering Pty Ltd’s Personal Property; or
(iii) if the Supplier parts with possession of DMF EngineeringPty Ltd’s Personal Property.
(f) The Supplier must not:
(i) create any Security Interest or lien over any Personal Property that DMF Engineering Pty Ltd has an interest in (other than Security Interests granted in favour of DMF Engineering Pty Ltd);
(ii) sell, lease or dispose of its interest in Personal Property that DMF Engineering Pty Ltd has an Security Interest in;
(iii) give possession of the Supplier’s Personal Property that DMF Engineering Pty Ltd has a Security Interest or DMF Engineering Pty Ltd’s P...
PPSA. The 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. (a) This clause applies to the extent that our interest under this Agreement is a ‘security interest’ for the purposes of the PPS Law (Security Interest).
(b) We may register any actual impending or likely Security Interest. You may not make a claim or demand against us for any loss or liability action of any kind in respect of any registration, even if it is determined that we should not have made a registration . You must do anything (such as obtaining consents and signing documents) which we require for the purposes of ensuring that our Security Interest is enforceable, perfected, first in priority and otherwise effective under the PPS Law.
(c) Our rights under this Agreement are in addition to and not in substitution for our rights under other law (including the PPS Law) and we may choose whether to exercise rights under this Agreement, and/or under such other law, as we see fit.
(d) to the extent that Chapter 4 of the PPS Law applies to any Security Interest under this Agreement, you agree to waive any period of, or right to notice that, would otherwise apply under Chapter 4 in your favour in respect of enforcement by us.
(e) In addition to any rights under Chapter 4 you agree that we shall, if there is a default by you, have the right to seize purchase, take possession or apparent possession, retain, deal with or dispose of any goods, not only under Chapter 4 but also, as additional and independent rights, under this Agreement and you agree that we may do so in any manner we see fit, including (in respect of dealing and disposal) by private or public sale, lease or licence.
(f) 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. This waiver also extends to any verification statement in respect of Security Interests arising or provided for under the security documents prior to the date of this Agreement.
(g) We and you agree not to disclose information of the kind that can be requested under section 275(1) of the PPS Law. You must do everything necessary on your part to ensure that section 275(6)(a) of the PPS Law continues to apply. This sub-clause is made solely for the purpose of allowing to us, the benefit of section 275(6)(a) and we shall not be liable to pay damages or any other compensation for breach of this sub-clause.
(h) You must not dispose or purport to dispose of, or create or purport to create or permit to be created any Security...
PPSA. 35.1 You agree to immediately notify CNH Industrial Capital in writing if you change your name or address or if there are any changes to any of the data relevant to a financing statement under the PPSA in respect of this Hire Purchase Agreement, including (but not restricted to), any of the information in the Goods Schedule.
35.2 CNH Industrial Capital may register any Security Interest which it considers arises out of this Hire Purchase Agreement (even before that Security Interest starts).
35.3 You agree that CNH Industrial Capital has a Security Interest in the Goods, securing the amount owing by you to CNH Industrial Capital under this Hire Purchase Agreement and that the Security Interest extends to any proceeds (as defined in the PPSA) of the Goods.
35.4 You agree to promptly do anything (for example obtaining consents, signing documents, having others sign documents, supplying information, and entering into a subordination or priority agreement with any other secured party) which CNH Industrial Capital asks to:
(a) ensure that the Security Interest created under this Hire Purchase Agreement is perfected and otherwise effective;
(b) assist CNH Industrial Capital to exercise any right in connection with the Security Interest.
35.5 If you also acquire a Security Interest in the Goods (for example, if you sublease them, even without consent), you must take all steps necessary to:
(a) obtain the highest ranking priority possible in respect of that Security Interest (such as duly perfecting a purchase money security interest); and
(b) reduce as far as possible the risk of a third party acquiring an interest in the Goods free of CNH Industrial Capital's Security Interest or your Security Interest.
35.6 You agree that any exercise by CNH Industrial Capital of its rights to enforce any Security Interest in the Goods necessarily also involves an exercise of all intellectual property rights relating to the Goods.
35.7 You certify that the Goods will be held by you in the furtherance of an enterprise to which an Australian business number has been allocated.
35.8 You waive any right you may have at any time (including under s157 of the PPSA) to receive a copy of a verification statement or other notice contemplated in the PPSA.
35.9 You waive your right to receive anything from CNH Industrial Capital under s275 of the PPSA, and agree not to make any request of CNH Industrial Capital under that section. You agree with CNH Industrial Capital for the purposes of s...
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. 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.
