Security Interest in Personal Property. 19.1 If any personal property collateral is detailed in the disclosure statement then you must do the following things: a. store all goods that are part of the collateral at the address of the owner shown in the disclosure statement; b. care for and maintain the collateral; c. repair any damage to the collateral; d. replace with other goods of a similar nature and value any of the goods that may be destroyed or lost or may cease to exist; e. the security interest granted by this agreement includes a security interest over all goods acquired by you under clause 19.1 d.; f. comply with all laws relating to its ownership and use; g. allow us to inspect any collateral at the address of the owner shown in the disclosure statement provided we first give you 24 hours written notice; and you must not do any of the following things: h. anything that could adversely affect your rights of ownership in the collateral; i. dispose of the collateral by way of sale, or gift or lease; j. allow someone else to have possession of the collateral; k. destroy, damage, endanger or disassemble the collateral; l. conceal or hide the collateral from us; x. xxxxx any other security of the collateral or allow any lien to be created over it; n. take the collateral out of New Zealand; and o. use the collateral for any dangerous or illegal activity or for any purpose for which it was not intended. 19.2 If any collateral is a motor vehicle then, in addition to the above, you must: a. not use it in any race or competitive activity; b. not obtain any personalised registration plate or remove or alter any serial number without our prior written permission. 19.3 If you install or fix anything to any collateral then that thing becomes part of the collateral and subject to the security interest. 19.4 We have the right to take possession of any collateral if this is required to enable us to perfect our security interest. 19.5 If any collateral has been acquired for business purposes, the Consumer Xxxxxxxxxx Xxx 0000 does not apply. 19.6 You waive your right to receive a verification statement following registration of any security interest. 19.7 We may, at all reasonable times, either personally or by agents, enter upon your premises to inspect the collateral. 19.8 If you fail to do anything that you agree to do under this agreement then we may, but are not required to, do that covenanted act or thing. 19.9 If we incur any cost or make a payment as a result of our actions under clause 19.8, that cost or the amount of that payment is repayable to us on demand and is secured under any security interest you give to us.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement
Security Interest in Personal Property. 19.1 If any personal property collateral is detailed in the disclosure statement then you must do the following things:
a. store all goods that are part of the collateral at the address of the owner shown in the disclosure statement;
b. care for and maintain the collateral;
c. repair any damage to the collateral;
d. replace with other goods of a similar nature and value any of the goods that may be destroyed or lost or may cease to exist;
e. the security interest granted by this agreement includes a security interest over all goods acquired by you under clause clause
19.1 d.;
f. comply with all laws relating to its ownership and use;
g. allow us to inspect any collateral at the address of the owner shown in the disclosure statement provided we first give you 24 hours written notice; and you must not do any of the following things:
h. anything that could adversely affect your rights of ownership in the collateral;
i. dispose of the collateral by way of sale, or gift or lease;
j. allow someone else to have possession of the collateral;
k. destroy, damage, endanger or disassemble the collateral;
l. conceal or hide the collateral from us;
x. xxxxx any other security of the collateral or allow any lien to be created over it;
n. take the collateral out of New Zealand; and
o. use the collateral for any dangerous or illegal activity or for any purpose for which it was not intended.
19.2 If any collateral is a motor vehicle then, in addition to the above, you must:
a. not use it in any race or competitive activity;
b. not obtain any personalised registration plate or remove or alter any serial number without our prior written permission.
19.3 If you install or fix anything to any collateral then that thing becomes part of the collateral and subject to the security interest.
19.4 We have the right to take possession of any collateral if this is required to enable us to perfect our security interest.
19.5 If any collateral has been acquired for business purposes, the Consumer Xxxxxxxxxx Xxx 0000 does not apply.
19.6 You waive your right to receive a verification statement following registration of any security interest.
19.7 We may, at all reasonable times, either personally or by agents, enter upon your premises to inspect the collateral.
19.8 If you fail to do anything that you agree to do under this agreement then we may, but are not required to, do that covenanted act or thing.
19.9 If we incur any cost or make a payment as a result of our actions under clause 19.8, that cost or the amount of that payment is repayable to us on demand and is secured under any security interest you give to us.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement
