6. PERSONAL PROPERTY SECURITIES ACT
(a) The Customer agrees that these terms and conditions create a PMSI in the goods (and their proceeds) supplied presently and the future by the Suppler to the Customer.
(b) The Customer agrees to do all things necessary and execute all documents reasonably required to register the PMSI granted by the Customer under these terms and conditions and to ensure that the Supplier acquires a perfected security interest in the goods under the PPSA.
(c) The Customer will, upon demand, pay all of the Supplier’s expenses and legal costs (on a solicitor/agent client basis) in relation to or in connection with the registration of the Supplier’s security interest and all other costs associated with protection and enforcement of the Supplier’s security interest created by these terms and conditions or by undertaking an audit under the provisions of the PPSA, or the repossession of the goods the subject of these terms and conditions or the exercise, enforcement or preservation of any right or interest under these terms and conditions or any contract that the Supplier has with the Customer.
(d) The PMSI does not lose its priority as a result of the renewal, refinance, consolidation or restructure of the subject matter of these terms and conditions and any purchase money obligations.
(e) Until ownership of the goods passes to the Customer, the Customer waives its rights under the following provisions of the PPSA, to the extent that it is permitted by law to:
i. Receive a notice of intention of removal of an accession (s95)
ii. Receive a notice that the Supplier has determined to enforce its security interest in accordance with land law (s118);
iii. Receive a notice of enforcement action against liquid assets (s121(4));
iv. Receive a notice of disposal of goods by the Supplier purchasing the goods (s129);
v. Receive a notice to dispose of collateral including the goods (s130);
vi. Receive a statement of account following disposal of the goods (s132(1));
vii. Receive a statement of account if no disposal of the goods, six monthly (s132(4));
viii. Receive notice of any proposal by the Supplier to retain the goods (s135(2));
ix. Object to any proposal by the Supplier to either retain or dispose of the goods (s137(3));
x. Redeem the goods (s142);
xi. Reinstate the security agreement (s143); and
xii. Receive a notice of any verification statement (s157(1) and 157 (3)).
(f) To the extent permitted by the PPSA, these terms and conditions may be excluded in the Supplier’s discretion and to the extent which they would otherwise confer rights on the Customer.
(g) The Customer further agrees that where the Supplier has rights in addition to those under Part 4 of the PPSA, those rights shall continue to apply.
(h) The Customer’s right to possession of goods still owned by the Supplier under these terms and conditions shall immediately cease if:
i. The Customer, being an individual, commits an act of bankruptcy;
ii. The Customer, being a company, circumstances arise where a receiver, manager, administrator or controller becomes entitled to take possession of any of its assets, any proceedings are instituted for winding up, or the Customer entering into a deed of company arrangement;
iii. The Customer ceasing or threatening to cease conducting business in the normal manner or applying for deregistration or receives a deregistration notice;
iv. Any cheque the Customer provides to the Supplier or any Group Company is dishonoured for payment; v. The Customer failing to comply with any demand for payment issued by the Supplier or any Group Company; or
vi. The Customer breaching any of the terms and conditions contained herein and/or are in default of any other agreement between the Supplier or any other Group Company and the Customer.
(i) The Customer expressly and irrevocably agrees that the Supplier is entitled to enter any premises where the goods supplied by the Supplier are located to repossess, remove and sell such goods. The Customer (its successors and assigns, including any external manager or administrator) will not object to the Supplier, or its agents, entering any premises for the purpose of this clause and agrees to indemnify and keep the Supplier indemnified in respect of any claims, actions and costs that may arise against the Supplier in relation to the removal, repossession and sale of the goods pursuant to these terms and conditions including any claims brought by third parties.
(j) The Customer agrees that repossession and retention of the goods pursuant to the PPSA will only satisfy so much of the monies which may become payable to the Supplier by the Customer, as is equivalent to the Supplier’s estimation of the market value of the goods as it is at the date of repossession and the repossession and retention will immediately extinguish any rights for interest the Supplier has on the value of the goods recovered.
(k) Until ownership of the goods passes, the Customer must not give the Supplier a written demand or allow any other person to give the Supplier a written demand requiring the Supplier to register a financing change statement under the PPSA.
(l) The Customer agrees not to change the Customer name or undertake any changes to any documents that the Supplier has registered, requires to be registered or are capable of being registered without our prior written consent of the Supplier.
(m) For avoidance of doubt, these terms regarding the PPSA apply even where the Customer is a Consumer.