a.
The Buyer grants to WKL a Security Interest in all goods supplied from time to time to secure payment of the purchase price and in all proceeds which the Buyer receives from selling Goods supplied by WKL.
b.
For the purposes of section 148 of the PPSA, the Buyer agrees that WKL does not have to provide a Verification Statement to the Buyer when WKL registers a Financing Statement in respect of any Security Interest created by this agreement.
c.
For the avoidance of doubt, words or phrases used in Clause 5 herein have the same meaning as that which is given to them in Section 16 of the PPSA.
d.
The Buyer agrees that nothing in sections 114(1)(a), 117(1)(c), 133 and 134 of the PPSA shall apply to these terms and conditions.
e.
The Buyer agrees that its rights as debtor in sections 116, 119, 120(2), 121, 125, 126, 127, 129, 131, and 132 of the PPSA shall not apply to these terms and conditions.
f.
The Buyer shall reimburse WKL for all costs, expenses and other charges incurred, expended or payable by WKL in relation to the filing of a financing statement or financing charge statement in connection with this Agreement.
g.
The Buyer shall supply the Company within two business days of written request copies of all documents granting security interests registered over the Buyer's personal property. The Buyer authorises the Company as an agent to request any information from any secured party relating to any security interest which is held in any personal property which is or has been in the Buyer's possession or control.
h.
The Buyer will immediately notify the Company in writing of any change in the Buyer's name or other material identifying characteristics of either the Buyer or the Goods purchased.
The Buyer acknowledges that this Agreement constitutes a "security agreement" for the purposes of the PPSA.
The Buyer agrees that if at any relevant time, the secured party does not have priority over all other secured parties in relation to any collateral, then the Buyer and WKL will, for the purposes of section 109(1) of the PPSA, be deemed, in accordance with the entitlement to do so under section 107(1) of the PPSA, to have contracted out of that section but specifically on the basis that, as between them and for the purposes of this security agreement and the operation and application of the PPSA, that section 109(1) (but amended only by the deletion of the words ''with priority over all other secured parties") is reinstated and contracted back into.