6.1 The Customer acknowledges that these Terms & Conditions create a security interest under the Personal Property Securities Act 2009 (PPSA) in favour of the Company in all goods supplied by the Company to the Customer (and all goods previously supplied by the Company to the Customer), and for avoidance of doubt, the proceeds of sale of those goods.
6.2 The Customer consents to the Company effecting a registration on the PPSA register (in any manner the Company considers appropriate) in relation to any security interest contemplated by these Terms & Conditions (including but not limited to an interest under relation to retention of title provisions of these Terms & Conditions) and further agrees;
- to do all things necessary and required by the Company to make sure that the security interest is a perfected “Purchase money security interest” under the PPSA and
- not to allow any third party to acquire a security interest in the goods.
6.3 To the extent that the goods are for the customer ‘s business use, the Customer agrees to the extent permitted under the PPSA, that the Customer has no right;
- to receive notice of removal of an accession under the PPSA;
- under Chapter 4 of the PPSA: or
- under the PPSA to receive a copy of any verification statement of financial change statement under the PPSA.
6.4 Without in any way limiting subclause © above, the customer agrees that to the extent permitted under the PPSA, the customer hereby waives its rights under section 95, 96, 117, 118, 120, 121(4), 123, 125, 126, 128, 129, 130, 132, 134, 135, 142 and 143 of the PPSA.
6.5 Unless otherwise agreed to in writing by the Company, the customer waives its right to receive a verification statement in accordance with section 157 of the PPSA.
6.6 The customer hereby waives its rights to receive notices under sections 95,118,121(4), 130,132(3)(D) AND 132(4) of the PPSA.
6.7 The customer must not assign or grant security interest in respect of any accounts owed to it in relation to the goods without the Company’s prior written consent.
6.8 Without limiting any other provision of these Terms & Conditions, if the Customer makes a payment to the Company at any time whether in connection with the supply of goods or otherwise, the Company may, at its absolute discretion, apply that payment to first satisfy obligations that are not secured, then obligations that are secured, then obligations that are secured, but not by a purchase money security interest, in the order in which those obligations were incurred, and then obligations that are secured by a purchase money security interest in the order in which those obligations were incurred.
6.9 Everything the Customer is required to do under this clause is at the Customer’s expense. The Customer agrees to pay or reimburse the Company’s costs and expenses in connection with anything the Company does under this clause.