4. Title and Risk
4.1 Risk in the Goods shall pass from us to you when the Goods are delivered in accordance with these Terms.
4.2 We remain the owners of the Goods we supply you until you have paid in full all the amounts that you owe to us for all the Goods we have supplied to you. Our interest in the Goods will be a security interest for the purposes of the Personal Property Securities Act 1999 (PPSA);
4.3 While we are the owners of the Goods,
4.3.1 You will always keep the Goods clearly identified as our property;
4.3.2 We still own the Goods even if you repackage them;
4.3.3 You licence us to enter any of your premises during normal business hours to repossess the Goods while you owe us money. You cannot revoke this licence.
4.3.4 The fact that we own the Goods will not affect our right to sue you for the price if you do not pay us on time. We have no obligation to accept returned Goods instead of being paid for them. We have no obligation to do anything to limit any loss we might suffer if you do not pay us on time.
4.4 You agree to do anything that we require at your expense to ensure that we have a perfected security interest in the Goods. We may allocate all amounts received from you in any manner we determine including any manner require to preserve any purchase money security interest in the Goods.
4.5 You waive your rights listed in s. 107(2) of the PPSA and your right to receive verification statements under the PPSA. You agree that section 114(1)(a). 117(1)(c), 122, 133 and 134 of the PPSA will not apply. You agree that we may exercise the rights in sections 108, 109, 111(1) and 120(1) of the PPSA whether or not we have priority over all other secured parties and that we may charge for complying with a demand under s. 162 of the PPSA.
4.6 You will give us not less than 14 day’s prior written notice of any proposed change in your name.
4.7 You will keep the Goods insured against fire, accident, theft and other risks as we may require in the manes of us and you for our respective rights and interests providing for payment of policy proceeds to us as unpaid or partly paid vendor until such time as payment is made in full for the Goods and title has passed to you, this insurance provision shall apply (without limitation) to all Goods held on consignment by you on your premises.
4.8 Prior to ownership to the Goods passing to you, you will be entitled, as our agent, to sell the Goods to a third person, provided that you;
4.8.1 Fully account to us for the price of the Goods from the proceeds.
4.8.2 Hold all rights against the purchaser of any such Goods in trust for us. You will assign to us any such rights if required by us. For the purpose of this clause, you irrevocably authorise us to give notice of any such purchaser notice of this assignment.