Common use of Charging Clause Clause in Contracts

Charging Clause. As security for repayment of any outstanding invoices issued to the Buyer and any associated costs and expenses, including Recovery Expenses, the Buyer and the Guarantor hereby charge in favour of the Company any real property and any personal or other property in which it has an interest (“Charge”), and irrevocably authorise the Company to lodge caveats to notify and protect that Charge in relation to any real property in which Buyer or the Guarantor have an interest. Where the Buyer or Guarantor is a corporation, if any tax invoice remains unpaid for 60 days or more, the Company may enforce the Charge by the appointment of a receiver by the Supreme Court of New South Wales and the Buyer and Guarantor each consent to the appointment of such a receiver.