22.1. In this clause ‘Collateral’, ‘PMSI’, ‘PPSR’, ‘Secured Party’, and ‘Security Interest’ have the meaning given to those terms by the PPSA.
22.2. The Customer acknowledges that the supply of the Services under this agreement gives rise to a Security Interest in the Goods in favour of IAS being a PMSI.
22.3. The Customer warrants that all information provided concerning the Goods is complete, accurate and up-to-date, and if the Customer becomes aware of any change or proposed change, it shall notify IAS within ten (10) business days of the change.
22.4. The Customer agrees to indemnify IAS against any liability or claim, where information provided by the Customer is later found to be false, misleading, deceptive or inaccurate.
22.5. The parties acknowledge that the Security Interest provided for by these Terms and Conditions in the Goods secures the Price for the Services and is a PMSI for that amount plus any other amounts found to be due and owing by the Customer pursuant to these Terms and Conditions.
22.6. IAS may, at the Customer’s expense, register any Security Interest granted under these Terms and Conditions on the Personal Property Securities Register.
22.7. The Customer agrees to take such steps as IAS reasonably requires to perfect and otherwise ensure the enforceability and first ranking priority of any Security Interest granted to it under these Terms and Conditions, including but not limited to, obtaining consents, signing and producing documents, getting documents completed and signed, supplying information, ensuring that the Security Interest is enforceable, perfected and otherwise effective, enabling IAS to exercise its rights in connection with the Security Interest or providing more effective security over the Goods.
22.8. The parties agree that, for the purposes of section 115 of the PPSA, the following sections of the PPSA will not apply to any Collateral which is subject to that Security Interest: Sections 95, 118, 121(4), 125, 129(2) and (3), 130, 132(3)(d), 132(4), 135, 138B(4), 142, and 143.
22.9. IAS is not required to give any notice under the PPSA to the Customer or any other person and the Customer waives the right to receive any such notice, unless the notice is required by the PPSA and that obligation cannot be excluded.
22.10. Subject to section 275(7) of the PPSA, the Customer and IAS each agree not to disclose any information of the kind described in section 275(1) of the PPSA.
22.11. The Customer agrees not to authorise the disclosure of any information contemplated by section 275(7)(c) of the PPSA, without the consent of IAS.