Common use of Security Charge Clause in Contracts

Security Charge. (a) In consideration for the Company agreeing to provide to the Customer the Goods and/or Services in accordance with this Agreement, the Customer and the Guarantor each charge the whole of each or any of their interest in any personal property, including the Goods provided under this Agreement, and land the Customer or the Guarantor own from time to time in the Company’s favour to secure each of the Customer’s and the Guarantor’s performance of each of their obligations under this Agreement. (b) Each of the Customer and the Guarantor agree that the Company can register: (i) an absolute Caveat, in reliance on the Charge in clause 8(a), against the Certificates of Title of any of the Customer’s and/or the Guarantor’s interest in any land to secure each of the Customer’s and the Guarantor’s performance of their obligations under the Agreement; and (ii) 1 or more Financing Statement on the PPSR to record and to better secure the Customer’s and the Guarantor’s obligations under this Agreement. (c) The Customer acknowledges that the terms of this Agreement constitute a Security Agreement, which creates a Security Interest in the Company’s favour in all of the Customer’s present and after acquired property to secure the Purchase Price and/or the Outstanding Debt owing by the Customer to the Company from time to time. Customer Sign: Guarantor Sign: Guarantor Sign: Guarantor Sign: (d) The Customer accepts, acknowledges and agrees that: (i) the Company can, register its Security Interest on the PPSR without prior notice to the Customer; and (ii) under section 275(6) of the PPSA, the Customer agrees the Company is not required to disclose to an interested person information pertaining to the Security Interest unless required to do so pursuant to the PPSA or at law. (e) The Customer agrees to: (i) sign any further documents and/or provide any further information (which information the Customer warrants to be complete, accurate and up-to-date in all respects) which the Company reasonably requires to enable it to perfect its Security Interest; (ii) give the Company not less than 14 days written notice of any proposed change in the customer’s name and/or any other changes in its details (including but not limited to, changes in the Customer’s Directorship, their address, facsimile number, email address, trading name or business practice); (iii) indemnify the Company against any costs the Company incurs in perfecting and maintaining its Security Interests constituted by this Agreement and any costs the Company incurs in the course of enforcing any of its rights under this Agreement, the PPSA or at law; (iv) procure from any persons the Company considers to be relevant such agreement and waiver as the Company reasonably requires; (v) waive its rights, to the extent the PPSA permits the Customer to do so:; to (A) receive a notice under any of subsections 95(1), 121(4), 129(2) and 130(1) and sections 135 and 157 of the PPSA; (B) receive a statement that includes the information referred to in paragraph 132(3)(d) of the PPSA; (C) receive a statement under subsection 132(4) of the PPSA; (D) redeem Collateral, as defined in the PPSA, after default under section 142 of the PPSA unless it is agreed in writing to such redemption; (E) reinstate the Security Agreement under section 143 of the PPSA; and (F) give a Notice of Objection, as defined in the PPSA under section 137 of the PPSA.

Security Charge. (a) In consideration for the Company agreeing to provide to the Customer the Goods and/or Services in accordance with this Agreement, the Customer and the Guarantor each charge the whole of each or any of their interest in any personal property, including the Goods provided under this Agreement, and land the Customer or the Guarantor own from time to time in the Company’s favour to secure each of the Customer’s and the Guarantor’s performance of each of their obligations under this Agreement. (b) Each of the Customer and the Guarantor agree that the Company can register: (i) an absolute Caveat, in reliance on the Charge in clause 8(a), against the Certificates of Title of any of the Customer’s and/or the Guarantor’s interest in any land to secure each of the Customer’s and the Guarantor’s performance of their obligations under the Agreement; and (ii) 1 or more Financing Statement on the PPSR to record and to better secure the Customer’s and the Guarantor’s obligations under this Agreement. (c) The Customer acknowledges that the terms of this Agreement constitute a Security Agreement, which creates a Security Interest in the Company’s favour in all of the Customer’s present and after acquired property to secure the Purchase Price and/or the Outstanding Debt owing by the Customer to the Company from time to time. Customer Sign: Guarantor Sign: Guarantor Sign: Guarantor Sign:. (d) The Customer accepts, acknowledges and agrees that: (i) the Company can, register its Security Interest on the PPSR without prior notice to the Customer; and (ii) under section 275(6) of the PPSA, the Customer agrees the Company is not required to disclose to an interested person information pertaining to the Security Interest unless required to do so pursuant to the PPSA or at law. (e) The Customer agrees to: (i) sign any further documents and/or provide any further information (which information the Customer warrants to be complete, accurate and up-to-date in all respects) which the Company reasonably requires to enable it to perfect its Security Interest; (ii) give the Company not less than 14 days written notice of any proposed change in the customer’s name and/or any other changes in its details (including but not limited to, changes in the Customer’s Directorship, their address, facsimile number, email address, trading name or business practice); (iii) indemnify the Company against any costs the Company incurs in perfecting and maintaining its Security Interests constituted by this Agreement and any costs the Company incurs in the course of enforcing any of its rights under this Agreement, the PPSA or at law; (iv) procure from any persons the Company considers to be relevant such agreement and waiver as the Company reasonably requires; (v) waive its rights, to the extent the PPSA permits the Customer to do so:; to (A) receive a notice under any of subsections 95(1), 121(4), 129(2) and 130(1) and sections 135 and 157 of the PPSA; (B) receive a statement that includes the information referred to in paragraph 132(3)(d) of the PPSA; (C) receive a statement under subsection 132(4) of the PPSA; (D) redeem Collateral, as defined in the PPSA, after default under section 142 of the PPSA unless it is agreed in writing to such redemption; (E) reinstate the Security Agreement under section 143 of the PPSA; and (F) give a Notice of Objection, as defined in the PPSA under section 137 of the PPSA.