AUSTRALIAN LEGAL TEMPLATES
PPSR Loan Agreement
Suitable For Use : NSW, QLD, VIC, WA, NT & ACT
PPSR Loan Agreement
This PPSR Loan Agreement Template provides the precedents needed to create loans secured by registration on the personal property security register (PPSR). It covers commercial loans to companies, secured by registration over circulating and non-circulating assets. The precedent loan agreement creates of a security interest that may be attached and registered on the PPSR.
The Personal Property Securities Act 2009. The Act establishes a new online security interest register called the Personal Property Securities Register, administered by the Insolvency and Trustee Service Australia (ITSA). This replaces most other current registers of security interests and establishes a system of priorities between competing interests.
An Agreement that allows registration of an interest on the PPSR. Secures repayment over all present and future acquired assets
Includes clauses covering:
- Definitions & Interpretation
- Receipt Of Loan Advance
- PPSA Provisions
- Grantor’s Warranties
- Grantor’s Covenants
- Further Advances
- Independent Advice
- Power Of Attorney
- General Provisions
15 pages long.
A loan calculator that enables you to calculate the repayments and a repayment schedule for the loan. Simply enter the loan amount, interest rate, term, commencement date and our loan amortisation will calculate monthly repayment AND give you a schedule of all repayments over the life of the loan including the due dates!
This PPSR Loan Agreement has 16 pages
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PPSR LOAN AGREEMENT
The precedent loan agreement creates of a security interest that may be attached and registered on the PPSR.
The Personal Property Securities Act 2009 came into effect on the 30 January 2012 . It is a Federal law has changed the way security interests in personal property and in relation to companies are created. The PPSR replaces a number of former registers including ASIC fixed and floating company charges.
The Act establishes a new online security interest register called the Personal Property Securities Register, administered by the Insolvency and Trustee Service Australia (ITSA). This replaces most other current registers of security interests and establishes a system of priorities between competing interests.
- Operation of the Act
Loans may be secured over individual assets, or classes of assets. Individual assets include motor vehicles, aircraft, boats, business inventory, goods to which retention of title applies, goods on commercial consignment, bailed and leased goods, intellectual property and company shares.
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