7.1 Defined terms in this clause have the same meaning as given to them in the PPSA.
7.2 CIVIQ™ and the Customer acknowledge that these Terms constitute a Security Agreement and entitle CIVIQ™ to claim a Purchase Money Security Interest (“PMSI”) in favour of CIVIQ™ over the Collateral supplied or to be supplied to the Customer as Grantor pursuant to these Terms.
7.3 The goods supplied or to be supplied under these Terms fall within the PPSA classification of ”Other Goods” acquired by the Customer pursuant to these Terms.
7.4 CIVIQ™ and the Customer acknowledge that CIVIQ™, as Secured Party, is entitled to register its Security Interest in the Collateral supplied or to be supplied to Customer pursuant to these Terms on the PPS Register.
7.5 To the extent permissible at law, the Customer:
7.5.1. waives its right to receive notification of or a copy of any Verification Statement confirming registration of a Financing Statement or a Financing Change Statement relating to a Security Interest granted by the Customer to CIVIQ™.
7.5.2 agrees to indemnify CIVIQ™ on demand for all costs and expenses, including legal costs and expenses on a solicitor / client basis, associated with the;
184.108.40.206 registration or amendment or discharge of any Financing Statement registered by or on behalf of CIVIQ™; and
220.127.116.11 enforcement or attempted enforcement of any Security Interest granted to CIVIQ™ by the Customer;
7.5.3 agrees that nothing in sections 130 and 143 of the PPSA will apply to these Terms or the Security under these Terms;.
7.5.4 agrees to waive its right to do any of the following under the PPSA:
18.104.22.168 receive notice of removal of an Accession under section 95;
22.214.171.124 receive notice of an intention to seize Collateral under section 123;
126.96.36.199 object to the purchase of the Collateral by the Secured Party under section 129;
188.8.131.52 receive notice of disposal of Collateral under section 130;
184.108.40.206 receive a Statement of Account if there is no disposal under section 132(4);
220.127.116.11 receive a Statement of Account under section 132(3)(d) following a disposal showing the amounts paid to other Secured Parties and whether Security Interests held by other Secured Parties have been discharged.
18.104.22.168 receive notice of retention of Collateral under section 135;
22.214.171.124 redeem the Collateral under section 142; and
126.96.36.199 reinstate the Security Agreement under section 143.
7.5.5 All payments received from the Customer must be applied in accordance with section 14(6)(c) of the PPSA.