Common use of PPSA & Security Interest Clause in Contracts

PPSA & Security Interest. 18.13.1 Upon signing this agreement the Provider: (a) acknowledges that this agreement is a security agreement for the purposes of section 36 of the PPSA; and (b) grants to the Commission a security interest in all equipment hosted by the Provider for the Commission during the term of this agreement. 18.13.2 The Provider agrees that sections 114(1)(a), 117(1)(c), 133 and 134 of the PPSA shall not apply on the enforcement by the Commission of any security interest created or provided for by this agreement. The Provider also waives any rights it may have under sections 116, 119, 120(2), 121, 125, 129, 131 and 132 of the PPSA on such enforcement. 18.13.3 The Provider acknowledges receipt of a copy of this agreement and any other agreement between the parties and waives any right it may have to receive from the Commission a copy of any financing statement, financing change statement or verification statement that is registered, issued, or received at any time in relation to this agreement or any other agreement between the parties. 18.13.4 The Provider undertakes to sign any further documents and/or provide any further information which the Commission may reasonably require to register a financing statement or financing change statement on the Personal Property Securities Register in respect of such security interest.

PPSA & Security Interest. 18.13.1 17.13.1 Upon signing this agreement the Provider: (a) acknowledges that this agreement is a security agreement for the purposes of section 36 of the PPSA; and (b) grants to the Commission a security interest in all equipment hosted by the Provider for the Commission during the term of this agreement. 18.13.2 17.13.2 The Provider agrees that sections 114(1)(a), 117(1)(c), 133 and 134 of the PPSA shall not apply on the enforcement by the Commission of any security interest created or provided for by this agreement. The Provider also waives any rights it may have under sections 116, 119, 120(2), 121, 125, 129, 131 and 132 of the PPSA on such enforcement. 18.13.3 17.13.3 The Provider acknowledges receipt of a copy of this agreement and any other agreement between the parties and waives any right it may have to receive from the Commission a copy of any financing statement, financing change statement or verification statement that is registered, issued, or received at any time in relation to this agreement or any other agreement between the parties. 18.13.4 17.13.4 The Provider undertakes to sign any further documents and/or provide any further information which the Commission may reasonably require to register a financing statement or financing change statement on the Personal Property Securities Register in respect of such security interest.