Common use of Personal Properties Securities Register Clause in Contracts

Personal Properties Securities Register. You acknowledge that Bolt Bikes may have, now or in the future, a Security Interest in the Bike. Bolt Bikes reserves the right to perfect its interest, including by registering its interest in the Bike on the PPSR, if Bolt Bikes forms the opinion that it is necessary to do so to protect its reasonable commercial interests. In that event, Bolt Bikes may require you to reimburse them the costs of perfection on written notice.