Security Interest and Sub-Hire. (a) The Hirer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP Australia. (b) The Hirer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP Australia (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP Australia and must be expressed to be subject to and subordinated to the rights of REGROUP Australia under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP Australia’s security interest in the Equipment unless REGROUP Australia consents to the sub-hire and the third party is bound by the terms of REGROUP Australia’s consent. (c) If REGROUP Australia terminates this Hire Agreement or if the Hirer repudiates this Hire Agreement: (i) REGROUP Australia may by notice to the third party terminate the sub-hire and upon such notice the third party’s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP Australia notwithstanding that the third party may not be in breach or default under the sub-hire; (ii) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any premises where the Equipment is located to enable REGROUP Australia to exercise any right it has under this Agreement including but not limited to inspection or taking possession of the Equipment. (d) If REGROUP Australia request, at any time, any original sub-hire that is a chattel paper must be: (i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP Australia’s security interest in the sub-hire as chattel paper; (ii) delivered to REGROUP Australia and held in REGROUP Australia’s possession; (iii) REGROUP Australia may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper. (e) The Hirer may not vary a sub-hire without the prior written consent of REGROUP Australia (in its absolute discretion). (f) The Hirer must ensure that REGROUP Australia 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.
Appears in 2 contracts
Samples: Plant Hire Agreement, Plant Hire Agreement
Security Interest and Sub-Hire. (a) The Hirer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP AustraliaAK Xxxxx Group.
(b) The Hirer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP Australia AK Xxxxx Group (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP Australia AK Xxxxx Group and must be expressed to be subject to and subordinated to the rights of REGROUP Australia AK Xxxxx Group under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP AustraliaAK Xxxxx Group’s security interest in the Equipment unless REGROUP Australia AK Xxxxx Group consents to the sub-hire and the third party is bound by the terms of REGROUP AustraliaAK Xxxxx Group’s consent.
(c) If REGROUP Australia AK Xxxxx Group terminates this Hire Agreement or if the Hirer repudiates this Hire Agreement:
(i) REGROUP Australia AK Xxxxx Group may by notice to the third party terminate the sub-hire and upon such notice the third party’s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP Australia AK Xxxxx Group notwithstanding that the third party may not be in breach or default under the sub-hire;
(ii) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any premises where the Equipment is located to enable REGROUP Australia AK Xxxxx Group to exercise any right it has under this Agreement including but not limited to inspection or taking possession of the Equipment.
(d) If REGROUP Australia AK Xxxxx Group request, at any time, any original sub-hire that is a chattel paper must be:
(i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP AustraliaAK Xxxxx Group’s security interest in the sub-hire as chattel paper;
(ii) delivered to REGROUP Australia AK Xxxxx Group and held in REGROUP AustraliaAK Xxxxx Group’s possession;
(iii) REGROUP Australia AK Xxxxx Group may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper.
(e) The Hirer may not vary a sub-hire without the prior written consent of REGROUP Australia AK Xxxxx Group (in its absolute discretion). .
(f) The Hirer must ensure that REGROUP Australia AK Xxxxx Group 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.
(g) The Hirer must take all steps including registration on the PPS Register as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire including where the interest is a PMSI is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enabling the Hirer to gain (subject always to the rights of AK Xxxxx Group and any other secured party as notified by AK Xxxxx Group) first priority (or any other priority agreed to by AK Xxxxx Group in writing) for the security interest; and
(iii) enabling AK Xxxxx Group, the Hirer and any other secured party nominated by AK Xxxxx Group to exercise their respective rights in connection with the security interest.
(h) AK Xxxxx Group may recover from the Hirer the cost of doing anything under this clause including registration fees.
Appears in 1 contract
Samples: Plant Hire Agreement
Security Interest and Sub-Hire. (a) 10.1 The Hirer Customer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP Australiathe Company.
(b) 10.2 The Hirer Customer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP Australia the Company (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP Australia the Company and must be expressed to be subject to and subordinated to the rights of REGROUP Australia the Company under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP Australia’s the Company‟s security interest in the Equipment unless REGROUP Australia the Company consents to the sub-hire and the third party is bound by the terms of REGROUP Australia’s the Company‟s consent.
(c) 10.3 If REGROUP Australia the Company terminates this Hire Agreement or if the Hirer Customer repudiates this Hire Agreement:
(ia) REGROUP Australia The Company may by notice to the third party terminate the sub-hire and upon such notice the third party’s party‟s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP Australia the Company notwithstanding that the third party may not be in breach or default under the sub-hire;.
(iib) The Company may enter the premises where any Equipment is located to exercise its rights under this Hire Agreement.
(c) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any the relevant premises where the Equipment is located to enable REGROUP Australia the Company to exercise any right it has under this Agreement including but not limited to inspection inspect or taking take possession of the Equipment.
(d) If REGROUP Australia the Company request, at any time, any original sub-hire that is a chattel paper must be:
(i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP Australia’s the Company‟s security interest in the sub-hire as chattel paper;
(ii) delivered to REGROUP Australia the Company and held in REGROUP Australia’s the Company‟s possession;
(iii) REGROUP Australia the Company may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper.
(e) The Hirer Customer may not vary a sub-hire without the prior written consent of REGROUP Australia the Company (in its absolute discretion). .
(f) If requested by the Company, the Customer must produce any sub-hire agreement or terms and conditions it intends to use for a sub-hire and agrees that if these are not the satisfaction of the Company then Customer will use a sub-agreement prepared by the Company.
(g) The Hirer Customer must ensure that REGROUP Australia the Company is provided at all times with up- up-to-date information about the sub-hire including the identity of the sub-HirerCustomer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
(h) The Customer must take all steps including registration on the PPS Register as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire including where the interest is a PMSI is enforceable, perfected and otherwise effective under the PPSA;
(ii) enabling the Customer to gain (subject always to the rights of the Company and any other secured party as notified by the Company) first priority (or any other priority agreed to by the Company in writing) for the security interest; and
(iii) enabling the Company, the Customer and any other secured party nominated by the Company to exercise their respective rights in connection with the security interest.
(i) The Company may recover from the Customer the cost of doing anything under this clause including registration fees.
(j) Notwithstanding the aforementioned and without limiting any other provision of these Terms of Hire the Company may choose, it its absolute discretion, to register the Customer‟s interest under any sub- agreement on the PPS Register on behalf of the Customer at the Customer‟s cost which will be added to the Hire Charges.
Appears in 1 contract
Samples: Hire Agreement
Security Interest and Sub-Hire. (a) The Hirer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP AK Xxxxx Group Australia.
(b) The Hirer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP AK Xxxxx Group Australia (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP AK Xxxxx Group Australia and must be expressed to be subject to and subordinated to the rights of REGROUP AK Xxxxx Group Australia under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP AK Xxxxx Group Australia’s security interest in the Equipment unless REGROUP AK Xxxxx Group Australia consents to the sub-hire and the third party is bound by the terms of REGROUP AK Xxxxx Group Australia’s consent.
(c) If REGROUP AK Xxxxx Group Australia terminates this Hire Agreement or if the Hirer repudiates this Hire Agreement:
(i) REGROUP AK Xxxxx Group Australia may by notice to the third party terminate the sub-hire and upon such notice the third party’s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP AK Xxxxx Group Australia notwithstanding that the third party may not be in breach or default under the sub-hire;
(ii) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any premises where the Equipment is located to enable REGROUP AK Xxxxx Group Australia to exercise any right it has under this Agreement including but not limited to inspection or taking possession of the Equipment.
(d) If REGROUP AK Xxxxx Group Australia request, at any time, any original sub-hire that is a chattel paper must be:
(i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP AK Xxxxx Group Australia’s security interest in the sub-hire as chattel paper;
(ii) delivered to REGROUP AK Xxxxx Group Australia and held in REGROUP AK Xxxxx Group Australia’s possession;
(iii) REGROUP AK Xxxxx Group Australia may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper.
(e) The Hirer may not vary a sub-hire without the prior written consent of REGROUP AK Xxxxx Group Australia (in its absolute discretion). .
(f) The Hirer must ensure that REGROUP AK Xxxxx Group Australia 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.
(g) The Hirer must take all steps including registration on the PPS Register as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire including where the interest is a PMSI is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enabling the Hirer to gain (subject always to the rights of AK Xxxxx Group Australia and any other secured party as notified by AK Xxxxx Group Australia) first priority (or any other priority agreed to by AK Xxxxx Group Australia in writing) for the security interest; and
(iii) enabling AK Xxxxx Group Australia, the Hirer and any other secured party nominated by XX Xxxxx Group Australia to exercise their respective rights in connection with the security interest.
(h) AK Xxxxx Group Australia may recover from the Hirer the cost of doing anything under this clause including registration fees.
Appears in 1 contract
Samples: Plant Hire Agreement
Security Interest and Sub-Hire. (a) The Hirer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP AustraliaMaramara.
(b) The Hirer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP Australia Maramara (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP Australia Maramara and must be expressed to be subject to and subordinated to the rights of REGROUP Australia Maramara under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP AustraliaMaramara’s security interest in the Equipment unless REGROUP Australia Maramara consents to the sub-hire and the third party is bound by the terms of REGROUP AustraliaMaramara’s consent.
(c) If REGROUP Australia Maramara terminates this Hire Agreement or if the Hirer repudiates this Hire Agreement:
(i) REGROUP Australia Maramara may by notice to the third party terminate the sub-hire and upon such notice the third party’s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP Australia Maramara notwithstanding that the third party may not be in breach or default under the sub-hire;
(ii) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any premises where the Equipment is located to enable REGROUP Australia Maramara to exercise any right it has under this Agreement including but not limited to inspection or taking possession of the Equipment.
(d) If REGROUP Australia Maramara Earthmoving request, at any time, any original sub-hire that is a chattel paper must be:
(i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP AustraliaMaramara’s security interest in the sub-hire as chattel paper;
(ii) delivered to REGROUP Australia Maramara and held in REGROUP AustraliaMaramara’s possession;
(iii) REGROUP Australia Maramara may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper.
(e) The Hirer may not vary a sub-hire without the prior written consent of REGROUP Australia Maramara (in its absolute discretion). .
(f) The Hirer must ensure that REGROUP Australia Maramara 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.
(g) The Hirer must take all steps including registration on the PPS Register as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire including where the interest is a PMSI is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enabling the Hirer to gain (subject always to the rights of Maramara and any other secured party as notified by Maramara) first priority (or any other priority agreed to by Maramara in writing) for the security interest; and
(iii) enabling Maramara, the Hirer and any other secured party nominated by Maramara to exercise their respective rights in connection with the security interest.
(h) Maramara may recover from the Hirer the cost of doing anything under this clause including registration fees.
Appears in 1 contract
Samples: Plant Hire Agreement
Security Interest and Sub-Hire. (a) 10.1 The Hirer Customer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP Australiathe Company.
(b) 10.2 The Hirer Customer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP Australia the Company (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP Australia the Company and must be expressed to be subject to and subordinated to the rights of REGROUP Australia the Company under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP Australiathe Company’s security interest in the Equipment unless REGROUP Australia the Company consents to the sub-hire and the third party is bound by the terms of REGROUP Australiathe Company’s consent.
(c) 10.3 If REGROUP Australia the Company terminates this Hire Agreement or if the Hirer Customer repudiates this Hire Agreement:
(ia) REGROUP Australia The Company may by notice to the third party terminate the sub-hire and upon such notice the third party’s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP Australia the Company notwithstanding that the third party may not be in breach or default under the sub-hire;.
(iib) The Company may enter the premises where any Equipment is located to exercise its rights under this Hire Agreement.
(c) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any the relevant premises where the Equipment is located to enable REGROUP Australia the Company to exercise any right it has under this Agreement including but not limited to inspection inspect or taking take possession of the Equipment.
(d) If REGROUP Australia the Company request, at any time, any original sub-hire that is a chattel paper must be:
(i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP Australiathe Company’s security interest in the sub-hire as chattel paper;
(ii) delivered to REGROUP Australia the Company and held in REGROUP Australiathe Company’s possession;
(iii) REGROUP Australia the Company may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper.
(e) The Hirer Customer may not vary a sub-hire without the prior written consent of REGROUP Australia the Company (in its absolute discretion). .
(f) If requested by the Company, the Customer must produce any sub-hire agreement or terms and conditions it intends to use for a sub-hire and agrees that if these are not the satisfaction of the Company then Customer will use a sub-agreement prepared by the Company.
(g) The Hirer Customer must ensure that REGROUP Australia the Company is provided at all times with up- up-to-date information about the sub-hire including the identity of the sub-HirerCustomer, the terms of and state of accounts and payment under the sub-hire and the location and condition of the Equipment.
(h) The Customer must take all steps including registration on the PPS Register as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire including where the interest is a PMSI is enforceable, perfected and otherwise effective under the PPSA;
(ii) enabling the Customer to gain (subject always to the rights of the Company and any other secured party as notified by the Company) first priority (or any other priority agreed to by the Company in writing) for the security interest; and
(iii) enabling the Company, the Customer and any other secured party nominated by the Company to exercise their respective rights in connection with the security interest.
(i) The Company may recover from the Customer the cost of doing anything under this clause including registration fees.
(j) Notwithstanding the aforementioned and without limiting any other provision of these Terms of Hire the Company may choose, it its absolute discretion, to register the Customer’s interest under any sub- agreement on the PPS Register on behalf of the Customer at the Customer’s cost which will be added to the Hire Charges.
Appears in 1 contract
Samples: Hire Agreement
Security Interest and Sub-Hire. (a) The Hirer must not create, purport to create or permit to be created any “security interest” (as defined in PPSA) in the Equipment other than with the express written consent of REGROUP AustraliaAK Xxxxx Earthmoving.
(b) The Hirer must not lease, hire, bail or give possession (“sub-hire”) of the Equipment to any third party (“third party”) unless REGROUP Australia AK Xxxxx Earthmoving (in its absolute discretion) first consents in writing. Any such sub-hire must be in writing in a form acceptable to REGROUP Australia AK Xxxxx Earthmoving and must be expressed to be subject to and subordinated to the rights of REGROUP Australia AK Xxxxx Earthmoving under this Hire Agreement and the third party is made aware the sub-hire will breach REGROUP AustraliaAK Xxxxx Earthmoving’s security interest in the Equipment unless REGROUP Australia AK Xxxxx Earthmoving consents to the sub-hire and the third party is bound by the terms of REGROUP AustraliaAK Xxxxx Earthmoving’s consent.
(c) If REGROUP Australia AK Xxxxx Earthmoving terminates this Hire Agreement or if the Hirer repudiates this Hire Agreement:
(i) REGROUP Australia AK Xxxxx Earthmoving may by notice to the third party terminate the sub-hire and upon such notice the third party’s right to possess and use the Equipment automatically ceases and the third party must surrender possession and control of the Equipment to REGROUP Australia AK Xxxxx Earthmoving notwithstanding that the third party may not be in breach or default under the sub-hire;
(ii) The third party will obtain all necessary consents from the owner, occupier and other interested persons (such as any mortgagee) of any premises where the Equipment is located to enable REGROUP Australia AK Xxxxx Earthmoving to exercise any right it has under this Agreement including but not limited to inspection or taking possession of the Equipment.
(d) If REGROUP Australia AK Xxxxx Earthmoving request, at any time, any original sub-hire that is a chattel paper must be:
(i) permanently and prominently marked in such a way that no other person can take possession of the sub-hire without being put on notice of REGROUP AustraliaAK Xxxxx Earthmoving’s security interest in the sub-hire as chattel paper;
(ii) delivered to REGROUP Australia AK Xxxxx Earthmoving and held in REGROUP AustraliaAK Xxxxx Earthmoving’s possession;
(iii) REGROUP Australia AK Xxxxx Earthmoving may, at its discretion, perfect any security interest held by it against a third party in any manner it considers appropriate to protect its interest in the Equipment and the sub-hire chattel paper.
(e) The Hirer may not vary a sub-hire without the prior written consent of REGROUP Australia AK Xxxxx Earthmoving (in its absolute discretion). .
(f) The Hirer must ensure that REGROUP Australia AK Xxxxx Earthmoving 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.
(g) The Hirer must take all steps including registration on the PPS Register as may be required to:
(i) ensure that any security interest arising under or in respect of the sub-hire including where the interest is a PMSI is enforceable, perfected and otherwise effective under the PPS Law;
(ii) enabling the Hirer to gain (subject always to the rights of AK Xxxxx Earthmoving and any other secured party as notified by AK Xxxxx Earthmoving) first priority (or any other priority agreed to by AK Xxxxx Earthmoving in writing) for the security interest; and
(iii) enabling AK Xxxxx Earthmoving, the Hirer and any other secured party nominated by AK Xxxxx Earthmoving to exercise their respective rights in connection with the security interest.
(h) AK Xxxxx Earthmoving may recover from the Hirer the cost of doing anything under this clause including registration fees.
Appears in 1 contract
Samples: Plant Hire Agreement
