Common use of Personal Property Security Act Clause in Contracts

Personal Property Security Act. (a) The Vendor may register with the personal property registry any Security Interest over the Goods which it reasonably considers arises out of the Contract. If it does, it must, within 20 days after registration of the financing statement, provide Newcrest with a copy of the financing statement or verification statement in compliance with section 43(15) of the PPSA. (b) For the purposes of this clause: (i) ‘PPSA’ means the Personal Property Security Act (British Columbia) and all regulations and other subordinate legislation pursuant to it; and (ii) ‘Security Interest’ means a security interest under the PPSA. (c) Unless otherwise defined, terms and expressions in the Contract that are defined in the PPSA shall have the same meaning as in the PPSA.

Personal Property Security Act. (a) The Vendor may register with the personal property registry any Security Interest over the Goods which it reasonably considers arises out of the Contract. If it does, it must, within 20 days after registration of the financing statement, provide Newcrest with a copy of the financing statement or verification statement in compliance with section 43(15) of the PPSA. (b) For the purposes of this clause:clause:‌ (i) ‘PPSA’ means the Personal Property Security Act (British Columbia) and all regulations and other subordinate legislation pursuant to it; and (ii) ‘Security Interest’ means a security interest under the PPSA. (c) Unless otherwise defined, terms and expressions in the Contract that are defined in the PPSA shall have the same meaning as in the PPSA.PPSA.‌