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Clause 1(14)
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Security Interest: means an interest in personal property provided for by a transaction that, in substance, secures payment or performance of an obligation. See Section 12 of the Personal Property Securities Act 2009.
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Clause 2.1(5)
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the Item Schedule and any attached addendum pages and annexures shall column notes in the Item Schedule form part of this Agreement.
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Clause 12.5
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In the case of any dispute arising under Clause 12, the provisions of Clause 26 will apply however if the dispute is not resolved, the same shall be referred to arbitration under the provisions of the Commercial Arbitration Act 2010.
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Clause 15
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The Tenant is not entitled to deal with the Lease or other assets of the business on, in or from the leased Premises by way of security or by way of creating a security interest, without first having obtained the Landlord’s consent, which consent, is at the sole discretion of the Landlord and may be granted upon such terms and conditions as the Landlord considers reasonable.
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Clause 17.1
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If a requirement for a Security Bond is provided for in Item (8), for the purpose of securing the performance by the Tenant of its obligations under this Agreement, the The Tenant must:
(a)
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lodge with the Landlord a cash deposit; or give to the Landlord a Security Bond in the amount provided for in Item (8); or
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(b)
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arrange for the issue of an unconditional bank guarantee, in favour of the Landlord which does not have an expiry date.
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for the purpose of securing the performance by the Tenant of its obligations under this Agreement
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Clause 17.2
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On the sale or the transfer of the Premises the Landlord may assign its right with respect to the Security Bond to the purchaser and upon notifying the Tenant the Landlord will be released from all obligations in relation to the Security Bond. Where the Security Bond/ bank guarantee is not assignable, the Tenant will cause a replacement guarantee to be issued in favour of the purchaser the reasonable costs of which will be met by the Landlord. Where a replacement Security Bond has been issued the original must be released to the Tenant.
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Clause 17.3
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The Landlord may apply the Tenant’s Security Bond towards as compensation for any loss or damage incurred or sustained by the Landlord due to the Tenant’s failure to comply with any of its obligations under this Agreement.
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Clause 17.4
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The Landlord’s exercise of its rights with respect to the Security Bond does not prejudice any other rights of the Landlord arising from a breach of the terms of the Agreement.
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Clause 17.5
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The Landlord will as soon as practicable at after the end of the Lease Term or any extension of the Lease Term cause to be released, subject to any unsatisfied claim under Clause 17.3, the Security Bond to the Tenant.
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