Common use of Application of the PPSA Clause in Contracts

Application of the PPSA. The Buyer acknowledges and agrees that: (a) OjiFS has a security interest under the PPSA in all the Goods supplied by ▇▇▇▇▇ under these Terms and any Related Terms as security for payment of the Amount Owing; (b) the Buyer acknowledges that it has received value from ▇▇▇▇▇ as at the date of first delivery of the Goods and has not agreed to postpone the time for attachment of the security interest granted to ▇▇▇▇▇ under these Terms; (c) these Terms and each security interest created under these Terms is a continuing security, unaffected by any intermediate payments or anything else whatsoever other than a written release signed by ▇▇▇▇▇ and is in addition to, and not to be merged in, any other security agreement, guarantee or other agreement (present or future) expressed or intended to be security for any amounts owing to OjiFS in respect of the Goods; (d) no security interest created under these Terms is discharged, nor are the Buyer’s obligations affected by any amendment to, or the validity or enforceability of, or failure to enforce, these Terms, or anything else whatever that, but for this clause, may have discharged these Terms or affected the Buyer’s obligations under these Terms; (e) the Buyer will, at its own cost, promptly provide all information and do all things that OjiFS may require to ensure that OjiFS has perfected security interests in respect of the Goods under the PPSA or otherwise to secure to OjiFS the full benefit of its intended rights under these Terms; and (f) the Buyer waives its rights under the PPSA to receive copies of any verification statement or financing change statement.