Document:

Fixed
      and Floating Charge

     

    AMI
      Australia Holdings Pty Limited

     

    ANZ
      Nominees Limited as
      custodian for the 

    Professional
      Pension PST - Super

     

      
        

      

    

    

     

    

     

    

     

    

     

    
      
        
          
            	
                    Doyle
                      Corporate Pty Limited

                    Solicitors

                    Level
                      1

                    204-218
                      Botany Road

                    ALEXANDRIA
                      NSW 2015

                    Tel:
                      (02) 9640 5185

                    Fax:
                      (02) 9640 5186

                    Email:
                      richard.doyle@aminet.com.au

                     

                     

                  

          

          R:\Doyle
            Corporate Pty Ltd\Documents\AMI Australia Fixed & Floating Charge - Gresham
            Super.DOC

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    Contents

    
      
        

      

    

    

    
      	
              Clause

            	 	 
	
              Number

            	
              Heading

            	
              Page

            
	 	 	 
	
              1

            	
              Definitions
                and interpretation

            	
              1

            
	
              2

            	
              Charge

            	
              10

            
	
              3

            	
              Release
                of Charge

            	
              13

            
	
              4

            	
              Representations
                and warranties

            	
              14

            
	
              5

            	
              Undertakings

            	
              17

            
	
              6

            	
              Events
                of Default

            	
              27

            
	
              7

            	
              Interest
                on overdue amounts

            	
              31

            
	
              8

            	
              Powers
                of Chargee on default

            	
              32

            
	
              9

            	
              Appointment
                of Receiver

            	
              35

            
	
              10

            	
              Receipt
                and application of money

            	
              36

            
	
              11

            	
              Payments

            	
              37

            
	
              12

            	
              Unlawfulness
                or increased costs

            	
              38

            
	
              13

            	
              Indemnities

            	
              40

            
	
              14

            	
              Assignment

            	
              42

            
	
              15

            	
              Set-off

            	
              42

            
	
              16

            	
              Notices

            	
              42

            
	
              17

            	
              Indemnities

            	
              43

            
	
              18

            	
              Preservation
                of rights

            	
              44

            
	
              19

            	
              General
                provisions

            	
              47

            
	
              20

            	
              Governing
                law and jurisdiction

            	
              48

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

        
        

      

    

    
      	
              Date

            	
               2006

            
	 	 
	
              Parties

            	
              AMI
                Australia Holdings Pty Limited (ACN
                095 238 645) of Level 1, 204-218 Botany Road, Alexandria NSW 2015
                (Chargor)

            
	 	 
	 	
              ANZ
                Nominees Limited as custodian for the Professional Pension PST -
                Super
                (ABN
                96 005 357 568) of 530 Collins Street, Melbourne VIC 3001 (Chargee)

            
	 	 

    

    Operative
      provisions

     

     

      
        

      

    

    
      	
              1

            	
              Definitions
                and interpretation

            

    

     

    
      	
              1.1

            	
              In
                this Deed, unless the context requires another
                meaning:

            

    

     

    Accounting
      Standards means:

     

    
      	 	
              (a)

            	
              the
                accounting standards applicable for the purposes of the Corporations
                Act;

            

    

     

    
      	 	
              (b)

            	
              the
                requirements of the Corporations Act for
                the preparation and content of financial reports, directors' reports
                and
                auditors' reports; and

            

    

     

    
      	 	
              (c)

            	
              generally
                accepted and consistently applied accounting principles and practices
                in
                Australia, except those inconsistent with the standards or requirements
                referred to in paragraphs (a) or
                (b);

            

    

     

    Accounts means,
      for a particular period:

     

    
      	 	
              (a)

            	
              for
                the Chargor or a Security Provider, its statement of financial performance
                and statement of cash flows for that period and its statement of
                financial
                position as at the end of that period;
                and

            

    

     

    
      	 	
              (b)

            	
              for
                the Group, the consolidated statement of financial performance and
                consolidated statement of cash flows of the Group for that period
                and the
                consolidated statement of financial position of the Group as at the
                end of
                that period; 

            

    

     

    and
      all
      disclosures, reports and notes required to be included or attached to or
      intended to be read with any of those financial statements and all directors'
      declarations about those financial statements.

     

    Amount
      Owing
      means
      all money, obligations and liabilities of any kind that are now or may in the
      future become due, owing or payable, whether actually, contingently or
      prospectively, by the Chargor to or for the account of the Chargee under or
      in
      relation to a Transaction Document including on account of principal, interest,
      fees, expenses, indemnity payments, losses or damages and irrespective
      of:

     

    
      	 	
              (a)

            	
              the
                capacity of the Chargor or the Chargee (whether as principal, agent,
                trustee, beneficiary, partner or
                otherwise);

            

    

     

    
      	 	
              (b)

            	
              whether
                the Chargor is liable as principal debtor or as surety;
                

            

    

     

    
      	 	
              (c)

            	
              whether
                the Chargor is liable alone, jointly or jointly and severally with
                another
                person;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (d)

            	
              whether
                or not the money, obligation or liability is owed to the Chargee,
                or to
                its account, as a result of an assignment, transfer or other dealing
                with
                or without the Chargor's consent;
                or

            

    

     

    
      	 	
              (e)

            	
              whether
                the money, obligation or liability is owed or secured before or after
                the
                date of this Deed or any assignment of this Deed or any other Transaction
                Document.

            

    

     

    Approved
      Purposes means
      general working capital purposes.

     

    Authorisation means:

     

    
      	 	
              (a)

            	
              any
                authorisation, approval, licence, permit, consent, qualification,
                accreditation, filing, registration, certificate, resolution, direction,
                declaration or exemption and any renewal and variation of them;
                and

            

    

     

    
      	 	
              (b)

            	
              for
                anything which a Government Agency may prohibit or restrict within
                a
                specified period, the expiry of that period without intervention
                or other
                action by that Government Agency.

            

    

     

    Authorised
      Officer means:

     

    
      	 	
              (a)

            	
              for
                the Chargor or a Security Provider, a director or a secretary of
                the
                Chargor or that Security Provider or any other person nominated by
                the
                Chargor or that Security Provider by notice to the Chargee to be
                an
                Authorised Officer, the notice to be accompanied by a certified copy
                of
                the signature of any person nominated;
                and

            

    

     

    
      	 	
              (b)

            	
              for
                the Chargee, a director or a secretary of the Chargee, or any employee
                of
                the Chargee whose title includes the word Manager and includes a
                person
                acting in any of those capacities or any other person nominated by
                the
                Chargee by notice to the Chargor to be an Authorised
                Officer.

            

    

     

    Bank means
      an
      authorised deposit-taking institution authorised by the Australian Prudential
      Regulation Authority to carry on banking business under the Banking Act 1959 (Cth).

     

    Base
      Rate means
      an
      annual interest rate equal to 450 basis points above the RBA cash
      rate.

     

    Business
      Day means
      a
      day on which Banks are open for business in Sydney other than a Saturday, a
      Sunday or a public holiday.

     

    Charge
      means
      the charge over the Secured Property created by this Deed.

     

    Claim means
      any
      claim, cost (including legal costs on a solicitor and client basis), damages,
      debt, expense, Tax, liability, loss, obligation, allegation, suit, action,
      demand, cause of action, proceeding or judgment of any kind however calculated
      or caused, and whether direct or indirect, consequential, incidental or
      economic.

     

    Cleared
      Funds means
      money that is immediately available to the recipient and freely transferable
      by
      it.

     

    Controller has
      the
      meaning given to controller
      in
      section 9 of the Corporations Act.

     

    Corporations
      Act means
      the
Corporations
      Act 2001 (Cth).

     

    Dollars and
      $
      mean the
      lawful currency of Australia.

     

    Environmental
      Law
      means
      any law about the environment, planning, building or local government and
      includes any law about.

     

    
      	 	
              (a)

            	
              land
                use or occupation of land or
                buildings;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (b)

            	
              occupational
                health and safety;

            

    

     

    
      	 	
              (c)

            	
              heritage
                preservation, protection or conservation of natural or cultural
                resources;

            

    

     

    
      	 	
              (d)

            	
              noise
                or odour;

            

    

     

    
      	 	
              (e)

            	
              pollution
                or contamination of air, water or soil;

            

    

     

    
      	 	
              (f)

            	
              a
                Pollutant;

            

    

     

    
      	 	
              (g)

            	
              waste
                disposal, treatment or storage;

            

    

     

    
      	 	
              (h)

            	
              chemical,
                toxic, hazardous, poisonous or dangerous substances;
                or

            

    

     

    
      	 	
              (i)

            	
              pesticides.

            

    

     

    Environmental
      Liability
      means
      any liability, obligation, cost, expense, penalty, compensation or fine imposed
      or incurred under an Environmental Law on or by the Chargor or a Security
      Provider or a member of the Group as a result of activities carried on during
      the ownership of the Chargor's properties by the Chargor or a Security
      Provider or a member of the Group or its predecessor in title or by any previous
      occupier.

     

    Event
      of Default
      means an
      event listed in clause 6.

     

    Excluded
      Tax
      means a
      Tax imposed on the overall net income of the Chargee as a consequence of the
      Chargee being organised, doing business, being a resident of or receiving income
      from a source in a jurisdiction other than a Tax:

     

    
      	 	
              (a)

            	
              imposed
                as a result of the Chargee being deemed to be organised, doing business,
                resident or receiving income in that jurisdiction only because it
                has
                executed or delivered a Transaction Document, or performed its
                obligations, received a payment under or enforced a Transaction Document;
                or

            

    

     

    
      	 	
              (b)

            	
              calculated
                on or by reference to the gross amount of any payment received or
                receivable by the Chargee under any Transaction Document (without
                allowance for any deduction).

            

    

     

    Government
      Agency
      means:

     

    
      	 	
              (a)

            	
              a
                government, whether foreign, federal, state, territorial or
                local;

            

    

     

    
      	 	
              (b)

            	
              a
                department, office or minister of a government acting in that capacity;
                or

            

    

     

    
      	 	
              (c)

            	
              a
                commission, delegate, instrumentality, agency, board or other government,
                semi-government, judicial, administrative, monetary or fiscal authority,
                whether statutory or not.

            

    

     

    Group means
      the
      Chargor and its Subsidiaries and member
      of the Group
      or
Group
      Company
      means
      any one of them.

     

    GST
      means
      GST as defined in the A
      New
      Tax System (Goods & Services Tax) Act 1999
      (Cth),
      or any like tax.

     

    Guarantee
      means a
      guarantee, indemnity, letter of credit, performance bond, letter of comfort
      or
      other assurance or assumption of responsibility, however it is described, given
      for a debt or liability of another person or the solvency or financial condition
      of another person.

     

    Indebtedness of
      a
      person means any debt or other monetary obligation of that person (whether
      actual or contingent, present or future and as principal, surety or
      otherwise):

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (a)

            	
              for
                money borrowed or under any arrangement for financial accommodation
                or
                credit;

            

    

     

    
      	 	
              (b)

            	
              for
                money raised including by the issue of bonds, notes, debentures,
                loan
                stock or similar instruments, under any note purchase facility or
                for any
                redeemable preference share;

            

    

     

    
      	 	
              (c)

            	
              under
                any swap, derivatives or hedging
                arrangement;

            

    

     

    
      	 	
              (d)

            	
              under
                any finance or capital lease or hire purchase
                arrangement;

            

    

     

    
      	 	
              (e)

            	
              under
                any Guarantee;

            

    

     

    
      	 	
              (f)

            	
              for
                the deferred purchase price of any asset or service, except trade
                debts
                which arise in the ordinary course of business and which are payable
                within 90 days; or

            

    

     

    
      	 	
              (g)

            	
              under
                any other transaction the commercial purpose or effect of which is
                to
                raise finance.

            

    

     

    Insolvency
      Event
      means,
      for any person that is a body corporate, the happening of one or more of the
      following events:

     

    
      	 	
              (a)

            	
              except
                for the purpose of a solvent reconstruction or amalgamation which
                has the
                prior written consent of the
                Chargee:

            

    

     

    
      	
            	(i)	
              process
                is filed in a court seeking an order that it be wound up or that
                a
                Controller be appointed to it or any of its assets, unless the application
                is withdrawn, struck out or dismissed within 7 days of it being filed;
                or

            

    

     

    
      	
            	(ii)	
              an
                order is made that it be wound up or that a Controller be appointed
                to it
                or any of its assets; or

            

    

     

    
      	
            	(iii)	
              a
                resolution that it be wound up is passed or
                proposed;

            

    

     

    
      	 	
              (b)

            	
              a
                liquidator, provisional liquidator, Controller or any similar official
                is
                appointed to, or takes possession or control of, all or any of its
                assets
                or undertaking; 

            

    

     

    
      	 	
              (c)

            	
              an
                administrator is appointed to it, a resolution that an administrator
                be
                appointed to it is passed or proposed, or any other steps are taken
                to
                appoint an administrator to it;

            

    

     

    
      	 	
              (d)

            	
              it
                enters into, or resolves to enter into, an arrangement, compromise
                or
                composition with any of, or any class of, its creditors or members,
                or an
                assignment for the benefit of any of, or any class of, its creditors,
                or
                process is filed in a court seeking approval of any such arrangement,
                compromise or composition;

            

    

     

    
      	 	
              (e)

            	
              a
                reorganisation, moratorium, deed of company arrangement or other
                administration involving one or more of its creditors is proposed
                or
                effected;

            

    

     

    
      	 	
              (f)

            	
              any
                action is taken by the Australian Securities and Investments Commission
                with a view to its deregistration or its dissolution, or an application
                is
                made to the Australian Securities and Investments Commission that
                any such
                action be taken; 

            

    

     

    
      	 	
              (g)

            	
              it
                is insolvent within the meaning of section 95A of the Corporations
                Act, as
                disclosed in its Accounts or otherwise, states that it is unable
                to pay
                its debts or it is presumed to be insolvent under any applicable
                law;

            

    

     

    
      	 	
              (h)

            	
              as
                a result of the operation of section 459F(1) of the Corporations
                Act,
                it
                is taken to have failed to comply with a statutory
                demand;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (i)

            	
              it
                stops or suspends or threatens to stop or suspend the payment of
                all or a
                class of its debts or the conduct of all or a substantial part of
                its
                business;

            

    

     

    
      	 	
              (j)

            	
              any
                event or circumstance set out in section 461 of the Corporations
                Act
                occurs in relation to it; or

            

    

     

    
      	 	
              (k)

            	
              anything
                having a substantially similar effect to any of the events specified
                in
                paragraphs (a) to (j) inclusive happens to it under the law of any
                jurisdiction.

            

    

     

    Interest
      Payment Date
      means:

     

    
      	 	
              (a)

            	
              the
                last day of an Interest Period; and

            

    

     

    
      	 	
              (b)

            	
              in
                the case of an Interest Period of more than 6 months, the last day
                of each
                6 month period during that Interest
                Period.

            

    

     

    Interest
      Period
      has the
      meaning ascribed to it in the Loan Agreement.

     

    Loan
      means
      the amount of AUD1.2 million to be made available by the Chargee to the Chargor
      under the Loan Agreement (as reduced or cancelled in accordance with the Loan
      Agreement) or the amount of the Loan that remains outstanding at any
      time.

     

    Loan
      Agreement
      means
      the loan agreement dated the same date as this Deed made between the Chargee
      and
      Chargor, or any other agreement which the parties agree to be the Loan Agreement
      for the purposes of this Deed.

     

    Material
      Adverse Effect
      means,
      for a person, in the reasonable opinion of the Chargee, a material adverse
      effect on:

     

    
      	 	
              (a)

            	
              its
                ability to perform any of its obligations under any Transaction
                Document; 

            

    

     

    
      	 	
              (b)

            	
              its
                financial condition, assets, revenues, business or prospects; 

            

    

     

    
      	 	
              (c)

            	
              the
                value of all or any part of its assets, revenues or business the
                subject
                of a Security or the value of any Security;
                or

            

    

     

    
      	 	
              (d)

            	
              the
                ability of the Chargee to exercise or enforce its rights and remedies
                under any Transaction Document to which that person is a party, including
                the ability to enforce any security constituted or intended to be
                constituted under the Security to which that person is a
                party.

            

    

     

    Marketable
      Securities has
      the
      meaning given to marketable
      securities
      in
      section 9 of the Corporations
      Act.

     

    Permitted
      Indebtedness
      means:

     

    
      	 	
              (a)

            	
              any
                Indebtedness incurred under any Transaction
                Document;

            

    

     

    
      	 	
              (b)

            	
              any
                Indebtedness due to a Related Body Corporate that is a Security
                Provider;

            

    

     

    
      	 	
              (c)

            	
              any
                Indebtedness incurred with the prior written consent of the Chargee;
                and

            

    

     

    
      	 	
              (d)

            	
              any
                other Indebtedness incurred by the Chargor and which is outstanding
                at any
                time not exceeding $250,000 in
                total.

            

    

     

    Permitted
      Restriction
      means:

     

    
      	 	
              (a)

            	
              a
                Restriction existing at the date of this Deed which
                is:

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (i)

            	
              disclosed
                to the Chargee in writing by the Chargor before the date of this
                Deed;
                or

            

    

     

    
      	 	
              (ii)

            	
              noted
                on a certificate or other document of title to any part of the Secured
                Property before the date of this
                Deed;

            

    

     

    and
      to
      which the Chargee gives its written consent before the date of this Deed;
      or

     

    
      	 	
              (b)

            	
              a
                Restriction created after the date of this Deed with the prior written
                consent of the Chargee.

            

    

     

    Permitted
      Security Interest
      means:

     

    
      	 	
              (a)

            	
              a
                Security Interest arising under a Transaction
                Document;

            

    

     

    
      	 	
              (b)

            	
              a
                lien or charge arising by operation of law in the ordinary course
                of
                business, other than one securing an obligation not discharged when
                due;

            

    

     

    
      	 	
              (c)

            	
              a
                Security Interest created in favour of the Chargee;
                or

            

    

     

    
      	 	
              (d)

            	
              an
                existing Security Interest to which the Chargee gives its written
                consent
                before the date of this Agreement or a Security Interest created
                after the
                date of this Agreement with the prior written consent of the Chargee,
                but
                only if:

            

    

     

    
      	 	
              (i)

            	
              the
                Security Interest secures Permitted Indebtedness;
                and

            

    

     

    
      	 	
              (ii)

            	
              the
                principal amount secured by the Security Interest does not exceed
                the
                maximum amount which the Chargee agrees in writing that it can
                secure.

            

    

     

    Pollutant means
      any
      solid, liquid, gas, odour, radiation, heat, sound, vibration, chemical, chemical
      waste or other substance:

     

    
      	 	
              (a)

            	
              declared
                by a Government Agency to be hazardous, a contaminant, a risk to
                health or
                safety of any person or animal or plant or to otherwise cause or
                to be
                likely to cause the environment to be degraded;
                or

            

    

     

    
      	 	
              (b)

            	
              which
                harms or is likely to harm the environment or any person;
                

            

    

     

    including
      asbestos, polychlorinated biphenyls and radioactive substances.

     

    Priority
      Amount
      means
      $1.7 million.

     

    Receiver
      means
      the person or persons appointed to be a receiver or receiver and manager under
      clause 9.

     

    Related
      Body Corporate
      of a
      body corporate means another body corporate which is related to the first body
      corporate within the meaning of Section 50 of the Corporations Act.

     

    Restriction
      means
      any:

     

    
      	 	
              (a)

            	
              caveat;

            

    

     

    
      	 	
              (b)

            	
              easement,
                covenant, reservation, restriction on use, right to remove anything
                from
                land, right of way or dedication for a public
                purpose;

            

    

     

    
      	 	
              (c)

            	
              restriction
                on assignment, transfer or other dealing or pre-emption
                right;

            

    

     

    
      	 	
              (d)

            	
              equity,
                interest, assignment of income or monetary claim;
                

            

    

     

    
      	 	
              (e)

            	
              garnishee
                order or writ of execution; or

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (f)

            	
              lease,
                licence to occupy or use or adverse
                possession.

            

    

     

    Secured
      Money
      means
      all money, obligations and liabilities of any kind that are or may in the future
      become due, owing or payable, whether actually, contingently or prospectively,
      by the Chargor to or for the account of the Chargee under or in relation to
      a
      Transaction Document/on any account including on account of principal,
      interest, fees, expenses, indemnity payments, losses or damages and irrespective
      of:

     

    
      	 	
              (a)

            	
              the
                capacity of the Chargor or the Chargee (whether as principal, agent,
                trustee, beneficiary, partner or
                otherwise);

            

    

     

    
      	 	
              (b)

            	
              whether
                the Chargor is liable as principal debtor or as
                surety;

            

    

     

    
      	 	
              (c)

            	
              whether
                the Chargor is liable alone, jointly or jointly and severally with
                another
                person;

            

    

     

    
      	 	
              (d)

            	
              whether
                or not the money, obligation or liability is owed to the Chargee
                or to its
                account as a result of an assignment, transfer or other dealing with
                or
                without the Chargor's consent; or

            

    

     

    
      	 	
              (e)

            	
              whether
                the money, obligation or liability is owed or secured before or after
                the
                date of:

            

    

     

    
      	 	
              (i)

            	
              this
                Deed; or

            

    

     

    
      	 	
              (ii)

            	
              any
                assignment of this Deed or any other Transaction
                Document.

            

    

     

    Secured
      Property
      means
      all of the property, rights and undertaking of the Chargor irrespective
      of:

     

    (a) whether
      it is present or future;

     

    (b) whether
      it is real or personal;

     

    (c) whether
      it is tangible or intangible; and

     

    (d) where
      it
      is located;

     

    including
      share capital which is uncalled or called but unpaid.

     

    Security
      means
      each of the documents, if any, listed in Schedule 1 and each other Guarantee,
      Security Interest or other document entered into by any person to secure or
      assume responsibility in respect of the payment, repayment or satisfaction
      of
      the Secured Money or any part of it.

     

    Security
      Interest
      means a
      right, interest, power or arrangement in relation to any property which provides
      security for, or protects against default by a person in, the payment or
      satisfaction of a debt, obligation or liability and any arrangement under which
      rights are subordinated to the rights of another party, and
      includes:

     

    
      	 	
              (a)

            	
              a
                mortgage, charge, bill of sale, pledge, deposit, lien, encumbrance,
                hypothecation or other security interest;

            

    

     

    
      	 	
              (b)

            	
              any
                other arrangement having the effect of conferring security (including
                any
                sale, hire purchase or lease agreement, or arrangement for the retention
                of title or sale and repurchase arrangement);
                or

            

    

     

    
      	 	
              (c)

            	
              any
                contractual arrangement under which money or claims to, or the benefit
                of,
                a bank or other account may be applied, set-off or made subject to
                a
                combination of accounts.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    Security
      Provider
      means a
      person who grants a Security other than the Chargor.

     

    Subsidiary of
      a body
      corporate means a subsidiary of that body corporate within the meaning of Part
      1.2 Division 6 of the Corporations Act.

     

    Tax
      means
      a
      tax, levy, charge, impost, deduction, withholding or duty of any nature
      (including stamp and transaction duty and GST) at any time: 

     

    
      	 	
              (a)

            	
              imposed
                or levied by any Government Agency; or

            

    

     

    
      	 	
              (b)

            	
              required
                to be remitted to, or collected, withheld or assessed by, any Government
                Agency;

            

    

     

    and
      any
      related interest, expense, fine, penalty or other charge on those amounts and
      includes any amount that a person is required to pay to another person on
      account of that other person's liability for Tax but does not include an
      Excluded Tax.

     

    Transaction
      Documents means:

     

    
      	 	
              (a)

            	
              this
                Charge;

            

    

     

    
      	 	
              (b)

            	
              each
                Security;

            

    

     

    
      	 	
              (c)

            	
              each
                document which the Chargee and the Chargor or a Security Provider
                agree in
                writing is a Transaction Document for the purposes of this Agreement;
                and

            

    

     

    
      	 	
              (d)

            	
              each
                document entered into or provided under any of the documents described
                in
                paragraphs (a), (b), (c) or (d), or for the purpose of amending or
                novating any of those documents;

            

    

     

    and
      Transaction
      Document means
      any
      of them and, when used in relation to the Chargor or a Security Provider, means
      any of those documents to which the Chargor or that Security Provider is a
      party.

     

    
      	
              1.2

            	
              In
                this Deed, unless the context requires another meaning, a
                reference:

            

    

     

    
      	 	
              (a)

            	
              to
                the singular includes the plural and vice
                versa;

            

    

     

    
      	 	
              (b)

            	
              to
                a gender includes all genders;

            

    

     

    
      	 	
              (c)

            	
              to
                a document (including this Agreement) is a reference to that document
                (including any Schedules and Annexures) as amended, consolidated,
                supplemented, novated or replaced;

            

    

     

    
      	 	
              (d)

            	
              to
                an agreement includes any undertaking, representation, deed, agreement
                or
                legally enforceable arrangement or understanding whether written
                or
                not;

            

    

     

    
      	 	
              (e)

            	
              to
                a party means a party to this Deed;

            

    

     

    
      	 	
              (f)

            	
              to
                an item, Recital, clause, Schedule or Annexure is to an item, Recital,
                clause, Schedule or Annexure of or to this
                Deed;

            

    

     

    
      	 	
              (g)

            	
              to
                a notice means a notice, approval, demand, request, nomination or
                other
                communication given by one party to another under or in connection
                with a
                Transaction Document;

            

    

     

    
      	 	
              (h)

            	
              to
                a person (including a party)
                includes:

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	
            	(i)	
              an
                individual, company, other body corporate, association, partnership,
                firm,
                joint venture, trust or Government Agency;
                and

            

    

     

    
      	
            	(ii)	
              the
                person's successors, permitted assigns, substitutes, executors and
                administrators; and

            

    

     

    
      	
            	(iii)	
              a
                reference to the representative member of the GST group to which
                the
                person belongs to the extent that the representative member has assumed
                rights, entitlements, benefits, obligations and liabilities which
                would
                remain with the person if the person were not a member of a GST
                group;

            

    

     

    
      	 	
              (i)

            	
              to
                a law: 

            

    

     

    
      	
            	(i)	
              includes
                a reference to any legislation, treaty, judgment, rule of common
                law or
                equity or rule of any applicable stock exchange; and
                

            

    

     

    
      	
            	(ii)	
              is
                a reference to that law as amended, consolidated, supplemented or
                replaced; and

            

    

     

    
      	
            	(iii)	
              includes
                a reference to any regulation, rule, statutory instrument, by-law
                or other
                subordinate legislation;

            

    

     

    
      	 	
              (j)

            	
              to
                proceedings includes litigation, arbitration and
                investigation;

            

    

     

    
      	 	
              (k)

            	
              to
                a judgment includes an order, injunction, decree, determination or
                award
                of any court or tribunal;

            

    

     

    
      	 	
              (l)

            	
              to
                time is to Sydney time;

            

    

     

    
      	 	
              (m)

            	
              to
                an accounting term is to be interpreted according to the Accounting
                Standards;

            

    

     

    
      	 	
              (n)

            	
              to
                the word including
                or
                includes
                means including,
                but not limited to,
                or
                includes,
                without limitation. 

            

    

     

    
      	
              1.3

            	
              Where
                a word or phrase is defined, its other grammatical forms have a
                corresponding meaning.

            

    

     

    
      	
              1.4

            	
              Headings
                are for convenience only and do not affect interpretation of this
                Deed.

            

    

     

    
      	
              1.5

            	
              This
                Deed may not be interpreted adversely to a party only because that
                party
                was responsible for preparing it.

            

    

     

    Joint
      and several liability

     

    
      	
              1.6

            	
              If
                the Chargor comprises more than one person, the representations made
                on
                their part and the undertakings and agreements on their part contained
                or
                implied in this Deed bind them jointly and each of them
                severally.

            

    

     

    
      	
              1.7

            	
              No
                Chargor is discharged from its obligations under this Deed
                if:

            

    

     

    
      	 	
              (a)

            	
              the
                obligations of any other Chargor are or become invalid or unenforceable;
                or

            

    

     

    
      	 	
              (b)

            	
              the
                liability of any other Chargor under this Deed ceases for any reason
                including by any release or discharge by the Chargee or by law or
                in any
                other way.

            

    

     

    
      	
              1.8

            	
              The
                Chargee may enforce its rights under this Deed and proceed against
                any one
                or more of the persons named as a Chargor in the manner, order and
                at the
                times the Chargee determines in its discretion. The Chargee is not
                required to enforce its rights or proceed against all of the persons
                named
                as a Chargor.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	
              1.9

            	
              A
                notice given by the Chargee to any one person named as a Chargor
                is to be
                considered to have been given to all of the persons named as a
                Chargor.

            

    

     

    
      	
              1.10

            	
              A
                reference to the Chargor is a reference to all of the persons named
                as a
                Chargor together and each of them
                separately.

            

    

     

    
      	
              1.11

            	
              This
                Deed binds each of the persons who execute this Deed as a Chargor
                even if
                any one or more of the other persons named as a Chargor do not execute
                this Deed, or execution by one or more of those other persons is
                or
                becomes void, voidable, illegal or
                unenforceable.

            

    

     

     

      
        

      

    

    
      	
              2

            	
              Charge

            

    

     

    Grant
      of Charge

     

    
      	
              2.1

            	
              The
                Chargor as beneficial owner charges the Secured Property to the Chargee
                by
                way of first ranking charge as security for the due and punctual
                payment
                and satisfaction of the Secured Money.
                This charge ranks equally with the charge of even date granted in
                favour
                of ANZ Nominees Limited as custodian for the Professional Pension
                PST -
                Pension on the date of this Deed.

            

    

     

    Ranking

     

    
      	
              2.2

            	
              The
                Charge ranks ahead of all other Security Interests over the Secured
                Property, including any Permitted Security Interests,
                except:

            

    

     

    
      	 	
              (a)

            	
              any
                Permitted Security Interest which must be preferred by law;
                or

            

    

     

    
      	 	
              (b)

            	
              to
                the extent provided in any priority arrangement to which the Chargee
                agrees in writing in respect of any Permitted Security
                Interest.

            

    

     

    Consideration

     

    
      	
              2.3

            	
              The
                Chargor enters into this Deed for valuable consideration from the
                Chargee
                and acknowledges receipt of that
                consideration.

            

    

     

    Fixed
      charge

     

    
      	
              2.4

            	
              The
                Charge is a fixed charge on all the Chargor's present and
                future:

            

    

     

    
      	 	
              (a)

            	
              interests
                and rights in real property, buildings and
                fixtures;

            

    

     

    
      	 	
              (b)

            	
              capital,
                including uncalled and called but unpaid capital and
                premiums;

            

    

     

    
      	 	
              (c)

            	
              personal
                property, including plant, equipment and machinery (other than
                stock-in-trade, work-in-progress and goods acquired for disposal
                in the
                ordinary course of the Chargor's
                business);

            

    

     

    
      	 	
              (d)

            	
              goodwill,
                patents, trademarks, copyrights, designs, trade secrets, confidential
                information and other intellectual property
                rights;

            

    

     

    
      	 	
              (e)

            	
              books
                of account, registers, records, vouchers, computer software, computer
                printouts and other information relating in any way to the business
                of the
                Chargor, whether the information is recorded in written form,
                electronically, magnetically or in any other
                way;

            

    

     

    
      	 	
              (f)

            	
              interests
                in, and rights under, bills of exchange, promissory notes and other
                negotiable instruments, certificates of deposit, bonds and debentures
                issued by any person;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (g)

            	
              Marketable
                Securities, legal or equitable rights or interests in Marketable
                Securities, units or other legal or equitable interests in any trust
                and
                any options, warrants or other rights to acquire (whether by way
                of issue
                or transfer) any property, right or interest referred to in this
                paragraph;

            

    

     

    
      	 	
              (h)

            	
              interests
                in, and rights under, instruments of any kind deposited by the Chargor
                with the Chargee;

            

    

     

    
      	 	
              (i)

            	
              interests
                in, and rights under, partnerships and joint
                ventures;

            

    

     

    
      	 	
              (j)

            	
              the
                benefit of all Guarantees and Security Interests to which the Chargor
                is
                entitled;

            

    

     

    
      	 	
              (k)

            	
              interests
                in, and rights under, all insurance policies relating to the Secured
                Property and the proceeds of those insurance
                policies;

            

    

     

    
      	 	
              (l)

            	
              interests
                in, and rights under, any contract to which the Chargor is a party,
                all
                things in action due or owing to the Chargor and the benefit of all
                its
                rights and remedies relating to those contracts and things in
                action;

            

    

     

    
      	 	
              (m)

            	
              interests
                in and rights under any debt or other monetary obligation forming
                part of
                the Secured Property whether actual or
                contingent;

            

    

     

    
      	 	
              (n)

            	
              interests
                in and rights under any statutory or other licence relating to the
                Chargor's business or activities or the ownership or use of any part
                of
                the Secured Property; and

            

    

     

    
      	 	
              (o)

            	
              documents
                of title to any property which is the subject of a fixed
                charge.

            

    

     

    Floating
      charge

     

    
      	
              2.5

            	
              The
                Charge is a floating charge on all the Secured Property that is not
                subject to a fixed charge under clause 2.4.

            

    

     

    
      	
              2.6

            	
              The
                Chargor may deal with any Secured Property while it is subject to
                a
                floating charge only in the ordinary course of the Chargor's
                business.

            

    

     

    Crystallisation

     

    
      	
              2.7

            	
              The
                floating charge created under clause 2.1
                and clause 2.5
                automatically becomes a fixed
                charge:

            

    

     

    
      	 	
              (a)

            	
              on
                all Secured Property not already subject to a fixed charge
                if:

            

    

     

    
      	
            	(i)	
              an
                Insolvency Event occurs in respect of the Chargor or a Security
                Provider;

            

    

     

    
      	
            	(ii)	
              an
                investigation of the affairs of the Chargor or a Security Provider
                is
                commenced under any law relating to
                companies;

            

    

     

    
      	
            	(iii)	
              distress,
                attachment, execution or other court process is levied on or against
                any
                assets, revenues or the business of the Chargor or a Security
                Provider;

            

    

     

    
      	
            	(iv)	
              the
                Chargor or a Security Provider reduces or takes steps to reduce its
                capital or limits or restricts calls on its issued but uncalled capital
                including by passing a resolution under section 254N of the Corporations
                Act;

            

    

     

    
      	
            	(v)	
              the
                Chargee makes a demand that the Chargor pay the Secured Money under
                clause
                6.2
                or
                the Charge is enforced in any other
                way;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	
            	(vi)	
              an
                Event of Default has occurred and the Chargee gives a notice in writing
                to
                the Chargor to that effect in relation to all of the Secured Property
                not
                already subject to a fixed charge;
                or

            

    

     

    
      	
            	(vii)	
              the
                Commissioner of Taxation issues a notice under section 260-5 of Schedule
                1
                of the Taxation
                Administration Act 1953 (Cth)
                or section 255 of the Income
                Tax Assessment Act 1936
                (Cth) relating to the Chargor or a Security Provider; and
                

            

    

     

    
      	 	
              (b)

            	
              on
                any particular asset forming part of the Secured Property and not
                already
                subject to a fixed charge if: 

            

    

     

    
      	
            	(i)	
              the
                Chargor deals, or attempts, purports or proposes to deal, with that
                asset
                in breach of a Transaction Document;

            

    

     

    
      	
            	(ii)	
              a
                person proposes to take action or action is taken to obtain a writ,
                order,
                notice or other thing relating to distress, attachment or other execution
                over that asset;

            

    

     

    
      	
            	(iii)	
              a
                Security Interest (other than this Charge) over that asset becomes
                capable
                of being enforced or a person enforces or attempts, purports or proposes
                to enforce, a Security Interest over that asset;
                or

            

    

     

    
      	
            	(iv)	
              an
                Event of Default has occurred and the Chargee gives a notice in
                writing to the Chargor to that effect in relation to that
                asset.

            

    

     

    Nothing
      in any paragraph of this clause prevents the floating charge from becoming
      fixed
      as to any asset under another provision of the Charge (including another
      paragraph of this clause), or by operation of law. 

     

    Decrystallisation

     

    
      	
              2.8

            	
              If
                the floating charge over an asset becomes fixed under clause 2.7,
                the Chargee may release that asset from the fixed charge at any time
                by
                notice to the Chargor.

            

    

     

    
      	
              2.9

            	
              If
                the Chargee gives a notice under clause 2.8,
                the asset specified in the notice will, with effect from the date
                specified in the notice, be subject to a floating charge under clause
                2.1
                and clause 2.5
                and subject to the further operation of clause 2.7.
                

            

    

     

    Priority
      Amount

     

    
      	
              2.10

            	
              For
                the purpose only of determining priorities between the Charge and
                any
                other Security Interest under Part 2K.3 of the Corporations
                Act:

            

    

     

    
      	 	
              (a)

            	
              the
                Charge secures:

            

    

     

    
      	
            	(i)	
              all
                Secured Money that is a present liability at the priority time in
                relation
                to the Charge; and

            

    

     

    
      	
            	(ii)	
              all
                Secured Money that is a prospective liability at the priority time
                in
                relation to the Charge, whether that Secured Money becomes a present
                liability before or after the registration of the Charge, up to a
                maximum
                amount equal to the Priority Amount;
                and

            

    

     

    
      	 	
              (b)

            	
              the
                prospective liability secured by the Charge is all money, obligations
                and
                liabilities of any kind that are or may in the future become due,
                owing or
                payable, whether actually, contingently or prospectively by the Chargor
                to
                or for the account of the Chargee on any account including on account
                of principal, interest, fees, expenses, indemnity payments, losses
                or
                damages;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    and
      any
      priority accorded by Part 2K.3 of the Corporations
      Act
      to the
      Charge over any other Security Interest extends to the prospective liability
      secured by the Charge only to the extent of the Priority Amount.

     

    
      	
              2.11

            	
              In
                clause 2.10 present
                liability,
                priority
                time
                and prospective
                liability
                have the meaning given to those expressions in section 261 and section
                278
                of the Corporations
                Act.

            

    

     

    
      
        

      

    

    
      	
              3

            	
              Release
                of Charge

            

    

     

    Release
      of Charge

     

    
      	
              3.1

            	
              If
                the Chargee is satisfied that:

            

    

     

    
      	 	
              (a)

            	
              all
                of the Secured Money is paid, discharged or performed in full; 

            

    

     

    
      	 	
              (b)

            	
              no
                money, obligation or liability is likely to become Secured Money
                within a
                reasonable time; and

            

    

     

    
      	 	
              (c)

            	
              there
                is no reasonable possibility that:

            

    

     

    
      	
            	(i)	
              any
                money received or recovered by the Chargee and applied in payment
                of the
                Secured Money; or

            

    

     

    
      	
            	(ii)	
              any
                settlement, conveyance, transfer or other transaction made in satisfaction
                of or in connection with the Secured
                Money;

            

    

     

    must
      be
      repaid or may be avoided under any law, including a law relating to preferences,
      bankruptcy, insolvency, administration or the winding-up of
      companies;

     

    the
      Chargee will discharge the Charge, at the request and cost of the
      Chargor.

     

    Partial
      release of Charge

     

    
      	
              3.2

            	
              The
                Chargee may release any part of the Secured Property from the Charge
                at
                any time. 

            

    

     

    
      	
              3.3

            	
              A
                release of part of the Secured Property from the Charge does not
                adversely
                affect the Charge over any other Secured Property, or any Transaction
                Document. 

            

    

     

    Reinstatement
      of Charge

     

    
      	
              3.4

            	
              If:

            

    

     

    
      	 	
              (a)

            	
              any
                payment, settlement, conveyance, transfer or other transaction made
                in
                satisfaction of or in connection with the Secured Money is void or
                voidable under any law; or

            

    

     

    
      	 	
              (b)

            	
              any
                claim is made that any payment, settlement, conveyance, transfer
                or other
                transaction made in satisfaction of or in connection with the Secured
                Money is void or voidable under any law and the claim is upheld,
                conceded
                or compromised;

            

    

     

    the
      Chargee is immediately entitled to the same rights, powers and remedies against
      the Chargor and the Secured Property as it would have had if the relevant
      payment, settlement, conveyance, transfer or transaction had never been made
      or
      taken place. If required by the Chargee, the Chargor must, at its own expense,
      sign all documents and do all acts necessary to restore to the Chargee the
      Charge and any other Security to which the Chargor was a party and held by
      the
      Chargee immediately before the payment, settlement, conveyance, transfer or
      transaction.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	
              3.5

            	
              Clause
                3.4
                survives the discharge of the
                Charge.

            

    

     

    Continuing
      security

     

    
      	
              3.6

            	
              This
                Deed is a continuing security and remains in full force and effect,
                despite any settlement of account or any other matter or thing, until
                a
                final discharge is given to the
                Chargor.

            

    

     

     

      
        

      

    

    
      	
              4

            	
              Representations
                and warranties

            

    

     

    
      	
              4.1

            	
              The
                Chargor represents and warrants to the Chargee
                that:

            

    

     

    
      	 	
              (a)

            	
              status:
                it
                is a corporation with limited liability and is properly incorporated
                (or
                taken to be incorporated), registered and validly existing under
                the
                Corporations Act;

            

    

     

    
      	 	
              (b)

            	
              capacity
                and power:
                it
                has full legal capacity and power to own its assets and to carry
                on its
                business as it is presently being conducted and to enter into and
                perform
                the Transaction Documents and the transactions contemplated by the
                Transaction Documents;

            

    

     

    
      	 	
              (c)

            	
              authority:
                it
                has taken all corporate and other action necessary to authorise the
                execution and performance of each Transaction Document and to carry
                out
                the transactions contemplated by the Transaction
                Documents;

            

    

     

    
      	 	
              (d)

            	
              documents
                binding:
                the Transaction Documents constitute (or will, when signed and delivered,
                constitute) its legal, valid and binding obligations enforceable
                against
                it in accordance with their terms;

            

    

     

    
      	 	
              (e)

            	
              transactions
                permitted:
                the execution of the Transaction Documents and the performance by
                it of
                its obligations or the exercise of its rights under the Transaction
                Documents do not:

            

    

     

    
      	
            	(i)	
              contravene
                its constitution or any of the provisions of the Corporations Act
                that
                apply to it as replaceable rules or mandatory
                rules;

            

    

     

    
      	
            	(ii)	
              contravene
                a law or Authorisation;

            

    

     

    
      	
            	(iii)	
              contravene
                an agreement or obligation binding on it or applicable to its assets,
                revenues or business or any agreement to which any member of the
                Group is
                a party;

            

    

     

    
      	
            	(iv)	
              exceed
                any limits on its powers or the powers of its
                directors;

            

    

     

    
      	
            	(v)	
              result
                in the creation of a Security Interest over its assets, revenues
                or
                business, other than a Permitted Security
                Interest;

            

    

     

    
      	
            	(vi)	
              result
                in the acceleration, cancellation, liquidation or early termination
                of an
                agreement or obligation relating to its Indebtedness;
                or

            

    

     

    
      	
            	(vii)	
              involve
                any act, matter or thing which constitutes (or which would be likely
                to
                constitute, with the giving of notice, the passage of time, any
                determination of materiality or the fulfilment of any other condition)
                an
                event of default or prepayment, cancellation, liquidation, early
                termination or similar event under an agreement or obligation relating
                to
                its Indebtedness;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    
      	 	
              (f)

            	
              registration: other
                than registration of this Charge under the Corporations Act, it is
                not
                necessary that a Transaction Document or any other document be filed
                or
                registered with any Government Agency to
                ensure:

            

    

     

    
      	
            	(i)	
              the
                validity, enforceability or admissibility in evidence of the Transaction
                Documents in any relevant jurisdiction;
                or

            

    

     

    
      	
            	(ii)	
              that
                each Transaction Document which is a Security Interest has the priority
                it
                is intended to have;

            

    

     

    
      	 	
              (g)

            	
              Authorisations:

            

    

     

    
      	
            	(i)	
              all
                Authorisations necessary or advisable for or in connection with the
                execution, validity, performance or enforceability of each Transaction
                Document and the transactions contemplated by the Transaction Documents
                have been obtained and are in full force and effect, including all
                Authorisations required to be obtained from any Government Agency
                or by
                the Chargor or any Security Provider from any of their respective
                members
                or creditors;

            

    

     

    
      	
            	(ii)	
              all
                conditions of each of those Authorisations have been complied with;
                and

            

    

     

    
      	
            	(iii)	
              no
                circumstances exist which would permit the termination, revocation,
                suspension or cancellation of any of those
                Authorisations;

            

    

    

      

        
          	 	
                  (h)

                	
                  Environmental
                    Laws: 

                

        

         

        
          	 	
                  (i)

                	
                  it
                    and each member of the Group has complied with all applicable
                    Environmental Laws and the conditions of each Authorisation issued
                    under
                    those Environmental Laws and each other material covenant, condition,
                    restriction or agreement affecting any property which is or was
                    at any
                    time occupied by it or
                    any member of the Group or on which it or
                    any member of the Group has carried on its business or conducted
                    any
                    activity; 

                

        

         

        
          	 	
                  (ii)

                	
                  no
                    notice of breach of any applicable Environmental Law or any of
                    those
                    Authorisations or covenants, conditions, restrictions or agreements
                    has
                    been received and, as far as it is aware, there are no grounds
                    for any
                    notice to that effect being issued;
                    and

                

        

         

        
          	 	
                  (iii)

                	
                  neither
                    it nor any member of the Group has incurred
                    any Environmental Liability;

                

        

         

        
          	 	
                  (i)

                	
                  other
                    default:
                    it
                    is not in default under any law, Authorisation, agreement or
                    obligation
                    binding on it or applicable to its assets, revenues or business
                    and no
                    Event of Default has occurred which has not been remedied or
                    waived in
                    writing;

                

        

         

        
          	 	
                  (j)

                	
                  no
                    litigation:
                    no
                    litigation or arbitration, administrative proceedings or other
                    procedure
                    for the resolution of disputes is currently taking place, pending
                    or, to
                    its knowledge threatened against it or any Secured Property involving
                    a
                    claim or claims:

                

        

         

        
          	 	
                  (i)

                	
                  in
                    an amount exceeding (whether alone or in total) $250,000;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  which
                    threatens the Chargor's title to any Secured Property, may hinder
                    the
                    Chargor's use, occupation, or enjoyment of any Secured Property,
                    or may
                    have a Material Adverse Effect on it or any member of the
                    Group;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (k)

                	
                  no
                    Security Interests or Restrictions:
                    no
                    Security Interest or Restriction exists over the Secured Property
                    except
                    Permitted Security Interests and Permitted
                    Restrictions;

                

        

         

        
          	 	
                  (l)

                	
                  ownership:
                    the Chargor is the legal and beneficial owner of the Secured
                    Property;
                    

                

        

         

        
          	 	
                  (m)

                	
                  priority:
                    the Charge is a first ranking charge over the Secured Property
                    and the
                    obligations of the Chargor under this Deed rank ahead of all
                    its other
                    obligations (other than those which on its winding-up, liquidation,
                    dissolution or similar process must be preferred by operation
                    of law)
                    except to the extent provided in this Deed or any priority arrangement
                    to
                    which the Chargee agrees in writing in respect of any Permitted
                    Security
                    Interest;

                

        

         

        
          	 	
                  (n)

                	
                  no
                    expropriation:
                    the Chargor has no notice of any proposal by any Government Agency
                    to
                    expropriate, seize, confiscate, requisition, resume or compulsorily
                    acquire any Secured Property; 

                

        

         

        
          	 	
                  (o)

                	
                  compliance
                    with laws:
                    the Chargor has complied with all laws and all guidelines, directions,
                    requests or requirements of any Government Agency applicable
                    to the
                    Secured Property or the use, occupation or enjoyment of the Secured
                    Property; 

                

        

         

        
          	 	
                  (p)

                	
                  no
                    Pollutants: no
                    Pollutant affects the Secured Property and the Chargor has not
                    received
                    any notice from any person claiming any loss or nuisance as a
                    result of
                    any Pollutant;

                

        

         

        
          	 	
                  (q)

                	
                  Accounts:
                    its and the Group's most recent Accounts for the time being and
                    any
                    Accounts delivered to the Chargee under this Agreement: 

                

        

         

        
          	 	
                  (i)

                	
                  were
                    prepared in accordance with Accounting Standards; and
                    

                

        

         

        
          	 	
                  (ii)

                	
                  show
                    a true and fair view of its and the Group's financial position
                    as at the
                    end of the financial period to which they relate, and its and
                    the Group's
                    performance and the results of its and the Group's operations
                    for that
                    period;

                

        

         

        
          	 	
                  (r)

                	
                  no
                    adverse change:
                    since the date of the Accounts referred to in sub-clause 6.1(q),
                    there has
                    been no material adverse change in its or any member of the Group's
                    financial condition, assets, revenues, business or prospects
                    and it is not
                    aware of any matter or circumstance which has had or may have
                    a Material
                    Adverse Effect on it or any member of the Group;
                    

                

        

         

        
          	 	
                  (s)

                	
                  no
                    Security Interest:
                    no
                    Security Interest exists over any of its assets, revenues or
                    business
                    except a Permitted Security
                    Interest;

                

        

         

        
          	 	
                  (t)

                	
                  accuracy
                    of information:
                    all information given to the Chargee by or with its authority
                    is true in
                    all material respects and is not, by omission or in any other
                    way,
                    misleading in any material respect;

                

        

         

        
          	 	
                  (u)

                	
                  not
                    a trustee:
                    it
                    is not a trustee of any trust or settlement (other than in relation
                    to any
                    role it holds in respect of the Astarra Superannuation
                    Scheme);

                

        

         

        
          	 	
                  (v)

                	
                  no
                    immunity:
                    neither it or any of its assets, revenues or business has any
                    immunity
                    from jurisdiction or execution;

                

        

         

        
          	 	
                  (w)

                	
                  tax
                    returns:
                    all Tax returns, reports and statements required to be filed
                    by it have
                    been filed properly completed and on time with the appropriate
                    Government
                    Agency in all jurisdictions in which those returns, reports and
                    statements
                    are required to be filed and all Taxes have been paid on or before
                    the due
                    date for payment;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (x)

                	
                  no
                    financial benefit to a related party:
                    the execution of the Transaction Documents and the performance
                    by it of
                    its obligations or the exercise of its rights under them does
                    not
                    constitute the giving of a financial benefit to a related party
                    of a
                    public company (within the meaning of Chapter 2E of the Corporations
                    Act)
                    by any person;

                

        

         

        
          	 	
                  (y)

                	
                  certifications: each
                    document, matter or thing certified by an Authorised Officer
                    of the
                    Chargor or a Security Provider is true, complete and up to
                    date;

                

        

         

        
          	 	
                  (z)

                	
                  benefit: it
                    benefits by entering into, exercising its rights and performing
                    its
                    obligations under the Transaction Documents;

                

        

         

        
          	 	
                  (aa)

                	
                  completeness:
                    there is no fact or circumstance known to it which it has not
                    disclosed in
                    writing to the Chargee, which a prudent financier would consider
                    material
                    to an assessment of the Chargor's or any Security Provider's
                    or any member
                    of the Group's status, credit-worthiness, prospects, business
                    or condition
                    or to the decision of the Chargee to enter into and perform its
                    obligations under the Transaction Documents (including any fact
                    or
                    circumstance which has had or may have a Material Adverse Effect
                    on the
                    Chargor or any Security Provider or any member of the Group);
                    

                

        

         

        
          	 	
                  (bb)

                	
                  title:
                    it
                    is the sole beneficial owner of the Secured Property purported
                    to be
                    charged or mortgaged by it and of all assets included in its
                    latest
                    Accounts free of any Security Interest or other third party right
                    or
                    interest other than the Security and Permitted Security Interests;
                    and

                

        

         

        
          	 	
                  (cc)

                	
                  Security:
                    each Security which is intended to create a Security Interest
                    creates the
                    security interests over the Secured Property which it purports
                    to create
                    and the obligations secured by each such Security rank ahead
                    of all its
                    other payment obligations, other than those which on a winding-up,
                    liquidation, dissolution or similar process must be preferred
                    by operation
                    of law.

                

        

         

        
          	
                  4.2

                	
                  The
                    representations and warranties in this Deed, including those
                    in
                    clause 4.1, survive the execution of each Transaction Document and
                    are repeated on each date on which representations and warranties
                    are
                    made, repeated or deemed to be made or repeated under any Transaction
                    Document while any of the Secured Money remains
                    outstanding.  

                

        

         

        
          	
                  4.3

                	
                  The
                    Chargor acknowledges that the Chargee has entered into each Transaction
                    Document in reliance on the representations and warranties in
                    this Deed.
                    

                

        

         

        
          	
                  4.4

                	
                  The
                    representations and warranties in this Deed are in addition to
                    any other
                    representations and warranties in any other Transaction
                    Document.

                

        

         

         

          
            

          

        

        
          	
                  5

                	
                  Undertakings

                

        

         

        Payment
          of Secured Money

         

        
          	
                  5.1

                	
                  The
                    Chargor must perform its obligations under the Transaction Documents
                    in
                    full and on time.

                

        

         

        
          	
                  5.2

                	
                  Without
                    limiting clause 5.1, the Chargor must pay the Secured Money to
                    the
                    Chargee:

                

        

         

        
          	 	
                  (a)

                	
                  in
                    accordance with the Transaction Documents;
                    or

                

        

         

        
          	 	
                  (b)

                	
                  on
                    demand, if payment of the Secured Money is not expressly provided
                    for in a
                    Transaction Document.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        Undertakings
          relating to Secured Property

         

        
          	
                  5.3

                	
                  Unless
                    the Chargee otherwise agrees in writing, the Chargor
                    must:

                

        

         

        
          	 	
                  (a)

                	
                  financial
                    reporting:
                    in
                    respect of the Chargor and each Security Provider and the Group,
                    supply to the Chargee:

                

        

         

        
          	 	
                  (i)

                	
                  as
                    soon as they are available and within 120 days of the end of
                    each
                    financial year, copies of its audited Accounts, directors' report
                    and
                    auditor's report for that financial year prepared for distribution
                    to its
                    members under section 314(1)(a) of the Corporations Act;  

                

        

         

        
          	 	
                  (ii)

                	
                  as
                    soon as they are available and within 90 days of the end of the
                    first half
                    of each financial year, copies of its unaudited Accounts for
                    that
                    half-year or, if it is a disclosing entity within the meaning
                    of the
                    Corporations Act, its Accounts audited in accordance with the
                    requirements
                    of the Corporations Act, directors' report and auditor's report
                    for that
                    half-year; and

                

        

         

        
          	 	
                  (iii)

                	
                  as
                    soon as they are available and within 45 days of the end of each
                    quarter
                    of each financial year, copies of its unaudited Accounts for
                    that
                    quarter;

                

        

         

        
          	 	
                  (b)

                	
                  basis
                    of accounting: 
                    ensure that each set of Accounts delivered under sub-clause 7.1(a)
                    is
                    prepared in accordance with law and the Accounting Standards
                    consistently
                    applied and, subject to those requirements, applying the same
                    basis of
                    accounting and accounting policies as were applied in the preparation
                    of
                    the audited consolidated Accounts of the Group for its financial year
                    ended 30 June 2005;

                

        

         

        
          	 	
                  (c)

                	
                  information:
                    deliver to the Chargee, copies of:

                

        

         

        
          	 	
                  (i)

                	
                  any
                    material information provided by the Chargor or any Security
                    Provider to
                    any Government Agency or any material notice issued to the Chargor
                    or any
                    Security Provider by any Government Agency, promptly after providing
                    or
                    receiving the same;

                

        

         

        
          	 	
                  (ii)

                	
                  all
                    documents which under applicable law it is required to issue
                    to its
                    members or debenture holders, promptly following issue of the
                    same;
                    and

                

        

         

        
          	 	
                  (iii)

                	
                  any
                    other information in relation to its financial condition, business
                    or
                    assets which the Chargee reasonably requests, promptly on
                    request;

                

        

         

        
          	 	
                  (d)

                	
                  books
                    and records:
                    prepare and maintain, in accordance with the Accounting Standards,
                    proper
                    and adequate books and financial records in respect of its business
                    reflecting fully all transactions entered into by
                    it;

                

        

         

        
          	 	
                  (e)

                	
                  inspection:
                    permit the Chargee or professional consultants appointed by the
                    Chargee,
                    or both, to inspect and examine at reasonable
                    times:

                

        

         

        
          	 	
                  (i)

                	
                  its
                    books and financial records and to take copies of those books
                    and
                    financial records; and

                

        

         

        
          	 	
                  (ii)

                	
                  any
                    property used or owned by it to determine whether the Chargor and
                    each Security Provider is complying with the Transaction Documents
                    or to
                    carry out an environmental audit,

                

        

         

        and
          to
          co-operate fully with the Chargee or its professional consultants or both
          in the
          conduct of that inspection and examination including giving full access
          to all
          its premises and employees;

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (f)

                	
                  notice
                    to Chargee:
                    promptly inform the Chargee of:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    occurrence of an Event of Default;

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    commencement of any litigation or other proceedings or procedure
                    described
                    in sub-clause 6.1(j); 

                

        

         

        
          	 	
                  (iii)

                	
                  any
                    proposal by a Government Agency to compulsorily acquire the whole
                    or a
                    substantial part of its assets or business;

                

        

         

        
          	 	
                  (iv)

                	
                  any
                    change in its Authorised Officers, including specimen signatures
                    of any
                    new Authorised Officer appointed and, if required by the Chargee,
                    evidence
                    satisfactory to the Chargee of the appointment and authority
                    of the
                    Authorised Officer;

                

        

         

        
          	 	
                  (v)

                	
                  the
                    occurrence of any event or circumstance which has had or may
                    have a
                    Material Adverse Effect on the Chargor or any Security Provider
                    or any
                    member of the Group; and

                

        

         

        
          	 	
                  (vi)

                	
                  the
                    giving by the Chargor or any Security Provider of any financial
                    assistance
                    under section 260A(1)(a) of the Corporations
                    Act;

                

        

         

        and
          on
          the Chargee's request, promptly provide to the Chargee a certificate signed
          by
          an Authorised Officer of the Chargor stating that there are no matters
          to be
          notified to the Chargee under this sub-clause;

         

        
          	 	
                  (g)

                	
                  maintain
                    existence:
                    maintain its corporate existence and conduct its business  in
                    a proper and efficient manner and in compliance with all laws,
                    Authorisations, agreements and obligations binding on it or applicable
                    to
                    its assets or revenues or the conduct of its
                    business;

                

        

         

        
          	 	
                  (h)

                	
                  comply
                    with laws:
                    comply with and observe all
                    laws and all applicable guidelines, directions, requests or requirements
                    of a Government Agency;

                

        

         

        
          	 	
                  (i)

                	
                  pay
                    Taxes:
                    file all Tax returns, reports and statements required to be filed
                    by it on
                    time and pay all Taxes payable by it in full and on
                    time;

                

        

         

        
          	 	
                  (j)

                	
                  insurance:
                    insure all of its assets which are of an insurable nature for
                    amounts
                    acceptable to the Chargee, with an insurance company acceptable
                    to the
                    Chargee;

                

        

         

        
          	 	
                  (k)

                	
                  maintain
                    Authorisations:
                    keep the Authorisations described in sub-clause 6.1(g), sub-clause
                    6.1(h)
                    and sub-clause 6.1(i) in full force and effect and comply with
                    those
                    Authorisations, and take immediate steps to obtain and keep in
                    effect any
                    other Authorisations which may become necessary or advisable
                    for:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    execution, validity, performance and enforceability of the Transaction
                    Documents; or

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    use of its assets or revenues or the conduct of any part of its
                    business;
                    and

                

        

         

        
          	 	
                  (l)

                	
                  no
                    Security Interests or Restrictions:
                    not:

                

        

         

        
          	 	
                  (i)

                	
                  create,
                    agree or attempt to create or permit to exist, any Security Interest
                    other
                    than a Permitted Security Interest or any Restriction other than
                    a
                    Permitted Restriction on any Secured Property;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  release
                    or vary any Permitted Restriction;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (m)

                	
                  Permitted
                    Security Interests and Permitted
                    Restrictions:

                

        

         

        
          	 	
                  (i)

                	
                  promptly
                    comply with the terms of any Permitted Security Interest or Permitted
                    Restriction;

                

        

         

        
          	 	
                  (ii)

                	
                  not
                    do, omit to do or permit to occur anything by which the obligations
                    of
                    another person under a Permitted Security Interest or Permitted
                    Restriction would be lessened; and

                

        

         

        
          	 	
                  (iii)

                	
                  not
                    increase the amount secured by a Permitted Security
                    Interest;

                

        

         

        
          	 	
                  (n)

                	
                  ranking
                    of obligations:
                    ensure that its obligations under the Transaction Documents at
                    all times
                    rank ahead of all its other obligations (other than those which
                    on a
                    winding-up, liquidation, dissolution or similar process must
                    be preferred
                    by operation of law) except to the extent provided in any Security
                    or any
                    priority arrangement to which the Chargee agrees in writing in
                    respect of
                    any Permitted Security Interest. 

                

        

         

        
          	 	
                  (o)

                	
                  disposals:
                    not sell, transfer, lease or otherwise dispose of, part with
                    possession of
                    or deal with:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    Secured Property or any estate or interest in the Secured Property;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  any
                    right in the Secured Property;

                

        

         

        whether
          by a single transaction or by a number of transactions, whether related
          or not,
          other than, in the case only of Secured Property subject to a floating
          charge
          under this Deed, in the ordinary course of the Chargor's business;

         

        
          	 	
                  (p)

                	
                  change
                    use:
                    not change the use of the Secured
                    Property;

                

        

         

        
          	 	
                  (q)

                	
                  maintain:
                    maintain and protect the Secured Property and keep it in good
                    order and
                    condition and in good and substantial repair and promptly carry
                    out all
                    work that may be required by a Government Agency in relation
                    to the
                    Secured Property; 

                

        

         

        
          	 	
                  (r)

                	
                  repair:
                    promptly repair every defect in the condition of the Secured
                    Property;
                    

                

        

         

        
          	 	
                  (s)

                	
                  protect:
                    on
                    demand by the Chargee take or defend legal proceedings to protect
                    the
                    Secured Property; 

                

        

         

        
          	 	
                  (t)

                	
                  not
                    prejudice:
                    not do, omit to do or permit to occur anything which adversely
                    affects a
                    right, power or remedy of the Chargee under this Deed or which
                    does or
                    might result in any Secured Property
                    being:

                

        

         

        
          	 	
                  (i)

                	
                  subject
                    to a Security Interest in favour of a Government
                    Agency;

                

        

         

        
          	 	
                  (ii)

                	
                  surrendered,
                    forfeited, exchanged, cancelled or adversely affected in any
                    way;
                    or

                

        

         

        
          	 	
                  (iii)

                	
                  reduced
                    in value;

                

        

         

        
          	 	
                  (u)

                	
                  no
                    alterations:
                    not pull down, alter, extend or remove any structure, building
                    or other
                    improvements, fixtures or fittings forming part of the Secured
                    Property,
                    but the consent of the Chargee must not be unreasonably withheld
                    if the
                    relevant Secured Property is worn out or damaged and is replaced
                    by
                    property of at least a similar value;

                

        

         

        
          	 	
                  (v)

                	
                  access:
                    provide to or procure for the Chargee or its professional consultants
                    full
                    access to the Secured Property and all premises and employees
                    of the
                    Chargor for the purpose of inspecting the Secured Property or
                    exercising a
                    right, power or remedy of the Chargee;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (w)

                	
                  damage: 
                    promptly notify the Chargee of any damage, loss, theft, arrest,
                    confiscation, seizure or other event which affects or might affect
                    the
                    rights of the Chargee under this Deed or involve a loss or reduction
                    in
                    value of any Secured Property exceeding
                    $250,000;

                

        

         

        
          	 	
                  (x)

                	
                  inventory:
                    on
                    demand by the Chargee, provide to the Chargee a complete inventory
                    of the
                    Secured Property including the value and location of each item
                    of the
                    Secured Property; 

                

        

         

        
          	 	
                  (y)

                	
                  pay
                    Taxes:
                    whether or not the Chargee has taken possession of any part of
                    the Secured
                    Property, pay all Taxes for the Secured Property in full and
                    on time and
                    on demand provide the Chargee with copies of all notices received
                    for
                    those Taxes and copies of receipts for all payments;
                    

                

        

         

        
          	 	
                  (z)

                	
                  perform
                    leases:
                    pay in full and on time all rent and other money and perform
                    all
                    obligations under any lease, sub-lease or licence granted to
                    the Chargor
                    and on demand provide to the Chargee the receipt for every payment;
                    

                

        

         

        
          	 	
                  (aa)

                	
                  deposit
                    title documents:
                    deposit with the Chargee all certificates or other documents
                    of title for
                    or evidencing any Secured Property over which the Charge is a
                    fixed charge
                    immediately on:

                

        

         

        
          	 	
                  (i)

                	
                  execution
                    of this Deed by the Chargor; and 

                

        

         

        
          	 	
                  (ii)

                	
                  acquisition
                    of any property forming part of the Secured Property after the
                    date of
                    this Deed;

                

        

         

        
          	 	
                  (bb)

                	
                  real
                    property:
                    promptly notify the Chargee of:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    particulars of any real property acquired by the Chargor;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  any
                    Secured Property situated outside
                    Australia;

                

        

         

        
          	 	
                  (cc)

                	
                  requisitions:
                    use its best endeavours to answer and comply with any requisitions
                    or
                    orders made by any Government Agency in relation to the registration
                    of
                    this Deed and do all things that the Chargee considers necessary
                    or
                    desirable to assist it in registering this Deed with the Australian
                    Securities and Investments Commission or any other Government
                    Agency,
                    including obtaining all necessary
                    consents;

                

        

         

        
          	 	
                  (dd)

                	
                  environmental
                    audit:
                    on
                    the Chargee's request, provide to the Chargee an environmental
                    audit
                    report for any part of the Secured Property prepared by an environmental
                    consultant acceptable to the Chargee and covering the matters
                    required by
                    the Chargee; and

                

        

         

        
          	 	
                  (ee)

                	
                  Pollutant: 

                

        

         

        
          	 	
                  (i)

                	
                  not
                    permit any Pollutant to be on, or to be released from, any Secured
                    Property other than to the extent and in the manner permitted
                    by any
                    applicable Environmental Law; and

                

        

         

        
          	 	
                  (ii)

                	
                  if
                    any Pollutant is found to be on, or is released from, any Secured
                    Property, take all action required by all applicable Environmental
                    Laws in
                    those circumstances, and any other action the Chargee requires
                    in respect
                    of the Pollutant.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        General
          positive undertakings

         

        
          	
                  5.4

                	
                  Unless
                    the Chargee otherwise agrees in writing, the Chargor
                    must:

                

        

         

        
          	 	
                  (a)

                	
                  notice
                    to Chargee:
                    promptly inform the Chargee of: 

                

        

         

        
          	 	
                  (i)

                	
                  the
                    occurrence of an Event of Default; 

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    commencement of any litigation or other proceedings or procedure
                    described
                    in clause 4.1(a);

                

        

         

        
          	 	
                  (iii)

                	
                  any
                    Pollutant being on or released from the Secured Property or the
                    receipt by
                    the Chargor of any notice claiming any loss or damage as a result
                    of a
                    Pollutant;

                

        

         

        and
          on
          the Chargee's request, promptly provide to the Chargee a certificate signed
          by
          an Authorised Officer of the Chargor stating that there are no matters
          to be
          notified to the Chargee under this clause;

         

        
          	 	
                  (b)

                	
                  comply
                    with laws:
                    comply with and observe all laws and all applicable guidelines,
                    directions, requests or requirements of a Government Agency including
                    those applicable to the Secured Property or to its use, occupation
                    or
                    enjoyment; and

                

        

         

        
          	 	
                  (c)

                	
                  ranking
                    of obligations:
                    ensure that its obligations under the Transaction Documents at
                    all times
                    rank ahead of all its other obligations (other than those which
                    on its
                    winding-up, liquidation, dissolution or similar process must
                    be preferred
                    by operation of law) except to the extent provided in this Deed
                    or any
                    other Security or any priority arrangement to which the Chargee
                    agrees in
                    writing in respect of any Permitted Security
                    Interest.

                

        

         

        Negative
          undertakings

         

        
          	
                  5.5

                	
                  Unless
                    the Chargee otherwise agrees in writing, the Chargor must not
                    and must
                    ensure that each of its Subsidiaries does not and must ensure
                    that each
                    Security Provider does not:

                

        

         

        
          	 	
                  (a)

                	
                  merger
                    or dissolution:
                    merge or consolidate with another entity or take steps toward
                    dissolution,
                    administration, liquidation or
                    winding-up;

                

        

         

        
          	 	
                  (b)

                	
                  capital
                    reorganisation:
                    purchase or redeem its issued shares, reduce its capital, pass
                    a
                    resolution under section 254N of the Corporations Act or make
                    a
                    distribution of assets or other capital to its
                    members;

                

        

         

        
          	 	
                  (c)

                	
                  issue
                    shares:
                    issue or agree to issue shares or grant options or warrants to
                    subscribe
                    for shares in its capital to any
                    person;

                

        

         

        
          	 	
                  (d)

                	
                  dividends:
                    declare or pay a dividend or otherwise distribute income to its
                    membersor
                    repay any shareholder loan if an Event of Default has occurred
                    which has
                    not been remedied to the satisfaction of the Chargee or waived
                    in
                    writing;

                

        

         

        
          	 	
                  (e)

                	
                  change
                    of business:
                    engage in any business other than the business conducted by the
                    Chargor or
                    Group as at the date of this Deed as carried on by it at the
                    date of this
                    Agreement or purchase, lease or otherwise acquire the use of
                    assets except
                    in the ordinary course of that business, or promote a company
                    or trust to
                    do any of those things;

                

        

         

        
          	 	
                  (f)

                	
                  dealing
                    with assets and third parties:
                    sell, transfer, lease or otherwise dispose of, part with possession
                    of,
                    create an interest in or otherwise deal with all or part of its
                    business,
                    assets or revenues, whether by a single transaction or by a number
                    of
                    transactions, whether related or not,
                    except:

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (i)

                	
                  by
                    reason of the granting of Security;
                    and

                

        

         

        
          	 	
                  (ii)

                	
                  in
                    respect only of assets subject to a floating charge under the
                    Security,
                    disposals in the ordinary course of its
                    business;

                

        

         

        or
          deal
          in any way with any person except at arms' length in the ordinary course
          of its
          business for valuable commercial consideration;

         

        
          	 	
                  (g)

                	
                  book
                    debts:
                    dispose of any interest in a book debt or permit a set-off or
                    combination
                    of accounts in respect of a book debt, other than by operation
                    of law;
                    

                

        

         

        
          	 	
                  (h)

                	
                  Security
                    Interests:
                    create or permit to exist a Security Interest over all or any
                    part of its
                    assets, revenues or business, other than a Permitted Security
                    Interest;

                

        

         

        
          	 	
                  (i)

                	
                  Insolvency
                    Event:
                    do
                    anything which would cause an Insolvency Event to occur in respect
                    of
                    itself or any Security Provider;

                

        

         

        
          	 	
                  (j)

                	
                  share
                    transfers:
                    register a transfer of shares in its capital;

                

        

         

        
          	 	
                  (k)

                	
                  dealings
                    with Related Bodies
                    Corporate:

                

        

         

        
          	 	
                  (i)

                	
                  provide
                    financial accommodation to a Related Body Corporate, or allow
                    to remain
                    outstanding any Indebtedness owing now or in the future to it
                    by a Related
                    Body Corporate; 

                

        

         

        
          	 	
                  (ii)

                	
                  repay
                    or otherwise satisfy any Indebtedness due now or in the future
                    by it to a
                    Related Body Corporate; or

                

        

         

        
          	 	
                  (iii)

                	
                  acquire
                    assets from a Related Body Corporate, or dispose of assets to
                    a Related
                    Body Corporate, other than for a fair market value and for Cleared
                    Funds;
                    

                

        

         

        
          	 	
                  (l)

                	
                  constitution
                    and replaceable
                    rules:

                

        

         

        
          	 	
                  (i)

                	
                  if
                    it has a constitution, modify or repeal all or any provision
                    of its
                    constitution; or

                

        

         

        
          	 	
                  (ii)

                	
                  if
                    it has no constitution, adopt a constitution;
                    or

                

        

         

        
          	 	
                  (iii)

                	
                  by
                    its constitution, displace or modify after the date of this Agreement
                    the
                    provisions of the Corporations Act that apply to it as replaceable
                    rules;

                

        

         

        
          	 	
                  (m)

                	
                  change
                    the basis of accounting or the accounting policies applied in
                    the
                    preparation of its Accounts or change its accounting year end;
                    

                

        

         

        
          	 	
                  (n)

                	
                  security
                    deposit:
                    deposit or lend money on terms that it will not be repaid until
                    its or
                    another person's obligations or indebtedness are performed or
                    discharged;
                    

                

        

         

        
          	 	
                  (o)

                	
                  Indebtedness:
                    incur or permit to remain outstanding any Indebtedness other
                    than
                    Permitted Indebtedness; 

                

        

         

        
          	 	
                  (p)

                	
                  loans
                    and Guarantees:
                    make any loans, grant any credit or give any Guarantee to or
                    for the
                    benefit of any person; or

                

        

         

        
          	 	
                  (q)

                	
                  establish
                    Subsidiary:
                    incorporate or acquire any Subsidiary. 

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        Insurance
          undertakings

         

        
          	
                  5.6

                	
                  Unless
                    the Chargee otherwise agrees in writing, the Chargor
                    must:

                

        

         

        
          	 	
                  (a)

                	
                  Secured
                    Property insurance:
                    insure all of the Secured Property that is insurable:
                    

                

        

         

        
          	 	
                  (i)

                	
                  for
                    full market replacement or reinstatement value for buildings
                    and other
                    improvements, fixtures and fittings, plant, equipment and other
                    goods
                    (other than stock-in-trade) and for full cost price for stock-in-trade;
                    and 

                

        

         

        
          	 	
                  (ii)

                	
                  against
                    the risks nominated in writing by the Chargee or, in the absence
                    of a
                    nomination, against loss, damage or destruction and any other
                    risks that
                    would usually be insured against by a reasonably prudent person
                    owning
                    property similar to the Secured
                    Property;

                

        

         

        
          	 	
                  (b)

                	
                  other
                    insurances: maintain
                    insurances for the Secured Property and the business of the Chargor
                    that
                    would usually be maintained by a reasonably prudent person conducting
                    a
                    business similar to the business of the Chargor, including
                    for:

                

        

         

        
          	 	
                  (i)

                	
                  public
                    risk and products liability for a minimum amount of $20
                    million;

                

        

         

        
          	 	
                  (ii)

                	
                  loss
                    of rent and business interruption with a minimum indemnity period
                    of 12
                    months;

                

        

         

        
          	 	
                  (iii)

                	
                  worker's
                    compensation in accordance with applicable
                    law;

                

        

         

        
          	 	
                  (iv)

                	
                  civil
                    liability in respect of material breaches of Environmental
                    Laws;

                

        

         

        and
          any
          other insurance reasonably requested by the Chargee, in each case for amounts
          and to the extent that the Chargee determines is prudent;

         

        
          	 	
                  (c)

                	
                  insurer:
                    ensure that all insurance policies are issued by a reputable
                    insurer
                    independent of the Chargor reasonably acceptable to the
                    Chargee;

                

        

         

        
          	 	
                  (d)

                	
                  content:
                    ensure that all insurance policies are on terms reasonably acceptable
                    to
                    the Chargee and, without
                    limitation:

                

        

         

        
          	 	
                  (i)

                	
                  are
                    taken out in the names of the Chargor and Chargee as insureds
                    for the full
                    value of their respective rights and
                    interests;

                

        

         

        
          	 	
                  (ii)

                	
                  name
                    the Chargee as loss payee for claims involving the Secured Property
                    (except in the case of a reinstatement policy where payments
                    are to be
                    made directly to the person effecting the reinstatement) or any
                    other
                    claim for which loss funds would, in the absence of this provision,
                    be
                    payable to the Chargor;

                

        

         

        
          	 	
                  (iii)

                	
                  contain
                    a provision that the policy cannot be cancelled unless the Chargee
                    has
                    received from the insurer 30 days prior written notice of the
                    proposed
                    cancellation and, if there is a default in the payment of premiums
                    or a
                    breach of any other term of the policy, unless that notice specifies
                    the
                    relevant breach and the breach is not remedied, by the Chargee
                    or by any
                    other person, on or before the expiry of that 30 day
                    period;

                

        

         

        
          	 	
                  (iv)

                	
                  contain
                    a provision that breach of any term of the policy, or any non-disclosure,
                    misrepresentation or fraud or any other act, omission or neglect
                    by an
                    insured will not invalidate the cover or prejudice or reduce
                    the rights of
                    any other insured;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (v)

                	
                  contain
                    a waiver of any rights of the insurer to set-off, counterclaim,
                    make any
                    deduction or seek contribution in connection with amounts payable
                    to the
                       Chargee, including where other insurances are effected by
                    the Chargee
                    against the same loss in respect of which those amounts are
                    payable;

                

        

         

        
          	 	
                  (vi)

                	
                  except
                    as provided in paragraph (v) above, contain a waiver of all claims
                    against
                    the Chargee for insurance premiums, Taxes, commissions or other
                    amounts
                    due;

                

        

         

        
          	 	
                  (e)

                	
                  renew
                    insurances:
                    renew all insurance policies before their expiry and extend insurance
                    policies when further insurable risks
                    arise;

                

        

         

        
          	 	
                  (f)

                	
                  pay
                    premiums:
                    pay all insurance premiums, Taxes, commissions and other amounts
                    necessary
                    for taking out, maintaining, renewing or extending all insurance
                    policies
                    in full and on time;

                

        

         

        
          	 	
                  (g)

                	
                  deliver
                    policies:
                    deliver to the Chargee every insurance policy, every alteration
                    or
                    addition to a policy, and every certificate of currency and related
                    receipts and any other details of the insurance policies which
                    the Chargee
                    requires;

                

        

         

        
          	 	
                  (h)

                	
                  no
                    changes:
                    not cancel or vary an insurance
                    policy;

                

        

         

        
          	 	
                  (i)

                	
                  not
                    prejudice:
                    not do or allow an act or omission to be done or occur (including
                    any non
                    disclosure of any information or any alteration or addition to
                    an
                    improvement forming part of the Secured Property) by
                    which:

                

        

         

        
          	 	
                  (i)

                	
                  an
                    insurance policy may be cancelled;

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    premium may be increased;

                

        

         

        
          	 	
                  (iii)

                	
                  insurance
                    is or becomes insufficient; or

                

        

         

        
          	 	
                  (iv)

                	
                  a
                    claim may be prejudiced in any way;

                

        

         

        
          	 	
                  (j)

                	
                  notice
                    to Chargee:
                    promptly notify the Chargee of:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    full particulars of any event which does or might give rise to
                    a right to
                    claim under an insurance policy and provide to the Chargee any
                    further
                    information that comes into the possession of the Chargor relating
                    to that
                    claim or potential claim;

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    cancellation or proposed cancellation, variation or reduction
                    of an
                    insurance policy;

                

        

         

        
          	 	
                  (iii)

                	
                  any
                    insurance policy becoming void or voidable;
                    and

                

        

         

        
          	 	
                  (iv)

                	
                  any
                    other material circumstances or correspondence relating to an
                    insurance
                    policy;

                

        

         

        
          	 	
                  (k)

                	
                  notice
                    to insurer: promptly
                    notify the relevant insurer, in accordance with the terms of
                    the relevant
                    insurance policy, of any event which does or might give rise
                    to a right to
                    claim under an insurance policy;
                    and

                

        

         

        
          	 	
                  (l)

                	
                  settlement
                    of claims:
                    not make, enforce, settle or compromise any claim in respect
                    of insurance
                    or for compensation but permit the Chargee alone to do those
                    things and to
                    sue and give discharges for all insurance claims and
                    moneys.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        Chargee
          may insure

         

        
          	
                  5.7

                	
                  If:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    Chargor fails to take out, maintain, renew or extend an insurance
                    policy
                    in accordance with clause 5.6;

                

        

         

        
          	 	
                  (b)

                	
                  the
                    Chargee determines that an insurer may become entitled to cancel
                    or avoid
                    an insurance policy effected under clause 5.6;
                    or

                

        

         

        
          	 	
                  (c)

                	
                  the
                    Chargee determines that an insurer under an insurance policy
                    may not be
                    capable of meeting a claim;

                

        

         

        the
          Chargee may do anything which it determines is advisable or necessary to
          take
          out or keep in force that policy or to take out a new policy complying
          with
          clause 5.6 at the cost of the Chargor and in the name of the Chargor or
          the
          Chargee or both. The Chargee is not obliged to do anything under this
          clause.

         

        Application
          of insurance money

         

        
          	
                  5.8

                	
                  If
                    no Event of Default has occurred and is subsisting, any money
                    received or
                    recovered under a claim involving the Secured Property, or any
                    other claim
                    for which the loss funds are payable to the Chargor, which is
                    not required
                    under the terms of a reinstatement policy to be paid to another
                    person
                    under a contract for reinstatement, must be held in a separate
                    account for
                    the Chargee and applied, at the option of the
                    Chargor:

                

        

         

        
          	 	
                  (a)

                	
                  towards
                    satisfaction of the Secured Money in accordance with clause 10;
                    or 

                

        

         

        
          	 	
                  (b)

                	
                  to
                    the extent necessary, to repair, replace or reinstate the Secured
                    Property
                    or otherwise for the purpose for which the relevant insurance
                    policy was
                    maintained.

                

        

         

        
          	
                  5.9

                	
                  If
                    an Event of Default has occurred and is subsisting, money referred
                    to in
                    clause 5.8 may be applied, at the option of the Chargee, for
                    any of the
                    purposes referred to in clause 5.8(a) or
                    (b).

                

        

         

        
          	
                  5.10

                	
                  The
                    Chargor must ensure that:

                

        

         

        
          	 	
                  (a)

                	
                  any
                    money received or recovered under a claim for workers compensation
                    or
                    public risk and products liability is paid to the person entitled
                    to be
                    compensated under the relevant policy;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  any
                    money received or recovered under a reinstatement policy is paid,
                    if
                    required under the terms of the policy, to the person entitled
                    to payment
                    under the contract for reinstatement of the Secured
                    Property.

                

        

         

        Consent
          of Chargee

         

        
          	
                  5.11

                	
                  If
                    any consent or approval of the Chargee is given, or compliance
                    by the
                    Chargor of any undertaking is waived, subject to compliance by
                    the Chargor
                    with any condition at or before a particular time, the Chargor
                    must comply
                    with that condition.

                

        

         

        Chargee
          may act

         

        
          	
                  5.12

                	
                  The
                    Chargee may do or cause to be done all things, including the
                    payment of
                    any money, which must be done by the Chargor under this Deed
                    but which the
                    Chargor fails to do in accordance with this Deed or which the
                    Chargor
                    fails to do to the satisfaction of the Chargee. Any money paid
                    by the
                    Chargee for this purpose forms part of the Secured
                    Money.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

         

          
            

          

        

        
          	
                  6

                	
                  Events
                    of Default

                

        

         

        
          	
                  6.1

                	
                  It
                    is an Event of Default if:

                

        

         

        
          	 	
                  (a)

                	
                  non-payment
                    of principal:
                    the Chargor fails to pay any part of the Secured Money in accordance
                    with
                    clause 5.1 of this Deed;

                

        

         

        
          	 	
                  (b)

                	
                  non-payment
                    of other money:
                    the Chargor or a Security Provider fails to pay within 10 Business
                    Days of
                    the due date for payment any fees, costs, charges, expenses or
                    other money
                    payable under a Transaction
                    Document;

                

        

         

        
          	 	
                  (c)

                	
                  other
                    default:
                    the Chargor fails to perform or observe any other obligation
                    under a
                    Transaction Document and:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    Chargee considers (acting reasonably) that the failure or default
                    cannot
                    be remedied; or

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    Chargee considers that the failure or default can be remedied,
                    but it is
                    not remedied to the Chargee's satisfaction within 20 Business
                    Days (or any
                    longer period the Chargee approves) from the earlier of:
                    

                

        

         

        
          	 	
                  (A)

                	
                  the
                    date the Chargor became aware of the default or ought reasonably
                    to have
                    become aware of the default; and

                

        

         

        
          	 	
                  (B)

                	
                  receipt
                    by the Chargor of a notice from the Chargee requiring it to remedy
                    the
                    default; 

                

        

         

        
          	 	
                  (d)

                	
                  default
                    under Transaction Documents:
                    an
                    event of default (however described in the relevant Transaction
                    Document)
                    occurs under the Loan Agreement or any other Transaction
                    Document;

                

        

         

        
          	 	
                  (e)

                	
                  ownership
                    of Secured Property:
                    the Chargor ceases for any reason to be the legal and beneficial
                    owner of
                    any part of the Secured Property other than as permitted under
                    a
                    Transaction Document; 

                

        

         

        
          	 	
                  (f)

                	
                  Insolvency
                    Event:
                    an
                    Insolvency Event occurs in respect of the
                    Chargor;

                

        

         

        
          	 	
                  (g)

                	
                  execution:
                    distress, attachment, execution or other court process or any
                    judgment is
                    issued, levied or enforced on or against the Chargor or any Secured
                    Property;

                

        

         

        
          	 	
                  (h)

                	
                  expropriation:
                    a
                    Government Agency expropriates all or a substantial part of the
                    assets or
                    business of the Chargor, or seizes, confiscates, requisitions,
                    resumes or
                    compulsorily acquires any Secured Property or proposes to do
                    any of those
                    things; 

                

        

         

        
          	 	
                  (i)

                	
                  use
                    and occupation:
                    the use or occupation of the Secured Property by the Chargor
                    contravenes a
                    law or a guideline, direction, request or requirement of a Government
                    Agency; 

                

        

         

        
          	 	
                  (j)

                	
                  litigation:
                    a
                    proceeding is commenced against the Chargor or in relation to
                    any Secured
                    Property which does or may:

                

        

         

        
          	 	
                  (i)

                	
                  threaten
                    the Chargor's title to any Secured Property;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  restrict
                    the Chargor's use, occupation or enjoyment of any Secured Property;
                    

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (k)

                	
                  priority:
                    the Charge ceases for any reason to be a first ranking charge
                    or an
                    obligation of the Chargor ranks ahead of or equally with the
                    Secured
                    Money, other than an obligation which on a winding-up, liquidation,
                    dissolution or similar process in respect of the Chargor must
                    be preferred
                    by operation of law or to the extent provided in this Deed or
                    any priority
                    arrangement to which the Chargee agrees in writing in respect
                    of any
                    Permitted Security Interest; or

                

        

         

        
          	 	
                  (l)

                	
                  damage:
                    all or a substantial part of the Secured Property is destroyed
                    or
                    substantially damaged.

                

        

         

        
          	 	
                  (m)

                	
                  representations:
                    a
                    representation or warranty made or deemed to be made by the Chargor
                    or a
                    Security Provider in, or in connection with, a Transaction Document
                    is
                    untrue or misleading (by omission or in any other way) when made
                    or
                    repeated;

                

        

         

        
          	 	
                  (n)

                	
                  Authorisations:
                    an
                    Authorisation described in sub-clause 6.1(k) is not granted or
                    ceases to
                    be in full force and effect for any reason or is varied in a
                    manner which
                    may have a Material Adverse Effect on the Chargor or a Security
                    Provider
                    or the ability of the Chargee to exercise or enforce its rights
                    under any
                    Transaction Document;

                

        

         

        
          	 	
                  (o)

                	
                  cross
                    default:

                

        

         

        
          	 	
                  (i)

                	
                  any
                    Indebtedness of the Chargor or a Security Provider in an amount
                    exceeding
                    $250,000 in total becomes due and payable or capable of being
                    declared due and payable before it would otherwise have been
                    due and
                    payable; 

                

        

         

        
          	 	
                  (ii)

                	
                  there
                    occurs a liquidation of obligations under, or an early termination
                    of, any
                    agreement or obligation relating to Indebtedness to which the
                    Chargor or a
                    Security Provider is a party by the other party to the relevant
                    agreement
                    or by the party owed the obligation or that party becomes entitled
                    to take
                    that action;

                

        

         

        
          	 	
                  (iii)

                	
                  the
                    Chargor or a Security Provider fails to pay any Indebtedness
                    when due or
                    within any applicable grace period;
                    or

                

        

         

        
          	 	
                  (iv)

                	
                  a
                    Security Interest created by the Chargor or a Security Provider
                    is
                    enforced or becomes capable of being enforced or the holder of
                    a Security
                    Interest takes possession or control of any of the assets, revenues
                    or
                    business of the Chargor or a Security
                    Provider;

                

        

         

        For
          the
          purpose of this sub-clause, if a person is required to provide cash cover
          for
          Indebtedness as a result of any actual, likely or threatened default, or
          an
          event of default or termination, cancellation, special prepayment or similar
          event, whatever called, that Indebtedness will be taken to be due and
          payable;

         

        
          	 	
                  (p)

                	
                  change
                    in control:
                    in
                    the opinion of the Chargee, having regard to any matter which
                    the Chargee
                    believes relates to control of a corporation (including legal
                    or
                    beneficial ownership of shares, voting rights, rights to receive
                    income or
                    capital, rights to appoint directors and the capacity to determine
                    the
                    outcome of decisions about the corporation's financial and operating
                    policies) there occurs a material change in the control of the
                    Chargor or
                    a Security Provider;

                

        

         

        
          	 	
                  (q)

                	
                  Insolvency
                    Event:
                    an
                    Insolvency Event occurs in respect of the Chargor or a Security
                    Provider;

                

        

         

        
          	 	
                  (r)

                	
                  investigations:
                    an
                    investigation of the affairs of the Chargor or a Security Provider
                    is
                    commenced under any law relating to
                    companies;

                

        

         

        
          	 	
                  (s)

                	
                  execution:
                    distress, attachment, execution or other court process or any
                    judgment in
                    an amount exceeding $250,000 is issued, levied or enforced on
                    or against
                    the Chargor or a Security Provider or any assets, revenues or
                    business of
                    the Chargor or a Security Provider;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (t)

                	
                  disposals:
                    the Chargor or a Security Provider:

                

        

         

        
          	 	
                  (i)

                	
                  substantially
                    changes the nature or scope of its
                    business;

                

        

         

        
          	 	
                  (ii)

                	
                  disposes
                    of all or a substantial part of its business or assets;
                    or

                

        

         

        
          	 	
                  (iii)

                	
                  proposes
                    to do any of the things in paragraphs (i) or (ii) this
                    sub-clause;

                

        

         

        
          	 	
                  (u)

                	
                  expropriation:
                    a
                    Government Agency expropriates all or a substantial part of the
                    assets or
                    business of the Chargor or a Security Provider or proposes to
                    do
                    so;

                

        

         

        
          	 	
                  (v)

                	
                  reduction
                    of capital and buy backs:
                    the Chargor or a Security Provider reduces or takes steps to
                    reduce its
                    capital as contemplated by Division 1 or Division  3 of Part 2J.1 of
                    the Corporations Act or in any other way, limits or restricts
                    calls over
                    its issued but uncalled capital including by passing a resolution
                    under
                    section 254N of the Corporations Act or
                    buys shares in itself as contemplated by Division 2 of Part 2J.1
                    of the
                    Corporations Act, or
                    proposes to do any of those things;

                

        

         

        
          	 	
                  (w)

                	
                  acquisition
                    of own shares:
                    the Chargor or a Security Provider contravenes section 259A, section
                    259B or section 259D of the Corporations Act, or issues or transfers
                    shares or units of shares if that issue or transfer is void under
                    section 259C of the Corporations Act, or proposes to do any of those
                    things; 

                

        

         

        
          	 	
                  (x)

                	
                  financial
                    assistance:
                    the Chargor or a Security Provider contravenes section 260A of the
                    Corporations Act or does an act or thing under section 260B of
                    the
                    Corporations Act other than for the purpose of approving any
                    Security, or
                    proposes to do any of those things;

                

        

         

        
          	 	
                  (y)

                	
                  vitiation
                    of documents:

                

        

         

        
          	 	
                  (i)

                	
                  a
                    Transaction Document or a provision of a Transaction Document
                    ceases for
                    any reason to be of full force and effect or becomes void, voidable
                    or
                    unenforceable;

                

        

         

        
          	 	
                  (ii)

                	
                  a
                    law suspends, varies, terminates or excuses performance by the
                    Chargor or
                    a Security Provider of any of its obligations under a Transaction
                    Document
                    or purports to do so;

                

        

         

        
          	 	
                  (iii)

                	
                  it
                    becomes impossible or unlawful for the Chargor or a Security
                    Provider to
                    perform an obligation under a Transaction Document or for the
                    Chargee to
                    exercise all or any of its rights, powers and remedies under
                    a Transaction
                    Document; 

                

        

         

        
          	 	
                  (iv)

                	
                  any
                    undertaking of the Chargor or a Security Provider under a Transaction
                    Document is not enforceable in accordance with its terms and
                    the Chargor
                    or the Security Provider fails to do, or fails to refrain from
                    doing, the
                    act which it purported to undertake to do or not to do, as the
                    case
                    requires; or

                

        

         

        
          	 	
                  (v)

                	
                  the
                    Chargor or a Security Provider alleges that a Transaction Document
                    has
                    been affected as described in paragraphs (i) to (iv) inclusive
                    of this
                    sub-clause;

                

        

         

        
          	 	
                  (z)

                	
                  material
                    adverse change:
                    an
                    event or circumstance occurs which does or may have a Material
                    Adverse
                    Effect on the Chargor or a Security
                    Provider;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (aa)

                	
                  undertakings:
                    an
                    undertaking given to the Chargee or an agent or adviser of the
                    Chargee by
                    or on behalf of the Chargor, a Security Provider or an agent
                    or adviser of
                    any of them is not honoured strictly in accordance with its terms;
                    

                

        

         

        
          	 	
                  (bb)

                	
                  Environmental
                    event:
                    under an Environmental Law:

                

        

         

        
          	 	
                  (i)

                	
                  a
                    Government Agency takes action against the Chargor or a Security
                    Provider;

                

        

         

        
          	 	
                  (ii)

                	
                  there
                    is a Claim made against or suffered by the Chargor or a Security
                    Provider
                    or the Chargor or a Security Provider incurs an Environmental
                    Liability;

                

        

         

        
          	 	
                  (iii)

                	
                  the
                    Chargor or a Security Provider is obliged to make expenditure,
                    alter or
                    cease the mode of conduct of any part of its
                    business; or

                

        

         

        
          	 	
                  (iv)

                	
                  an
                    Authorisation is not granted or ceases to be in full force and
                    effect for
                    any reason or is varied in a
                    manner;

                

        

         

        which
          does or may have a Material Adverse Effect on the Chargor or a Security
          Provider; 

         

        
          	 	
                  (cc)

                	
                  other
                    event of default:
                    an
                    event of default (however described in the relevant Transaction
                    Document)
                    occurs under any other Transaction Document;
                    or

                

        

         

        
          	 	
                  (dd)

                	
                  Group
                    event:
                    any event described in sub-clauses 6.1(a) to (cc) occurs in relation
                    to any member of the Group.

                

        

         

        
          	
                  6.2

                	
                  If
                    an Event of Default occurs the Chargee may by notice to the
                    Chargor:

                

        

         

        
          	 	
                  (a)

                	
                  declare
                    the Secured Money to be either:

                

        

         

        
          	 	
                  (i)

                	
                  payable
                    on demand; or

                

        

         

        
          	 	
                  (ii)

                	
                  immediately
                    due and payable without further demand, notice or other legal
                    formality of
                    any kind; or

                

        

         

        
          	 	
                  (b)

                	
                  declare
                    the Loan cancelled;

                

        

         

        or
          make
          both of those declarations.

         

        
          	
                  6.3

                	
                  A
                    notice given under clause 6.2 is effective on
                    receipt.

                

        

         

        
          	
                  6.4

                	
                  If
                    the Chargee gives a notice under sub-clause 6.2(a)(ii), the Chargor
                    must
                    immediately pay to the Chargee the amount specified in the notice
                    in
                    full.

                

        

         

        Money
          received after Event of Default

         

        
          	
                  6.5

                	
                  This
                    Deed may be enforced:

                

        

         

        
          	 	
                  (a)

                	
                  despite
                    the acceptance of any part of the money payable under this Deed
                    after any
                    Event of Default; and

                

        

         

        
          	 	
                  (b)

                	
                  despite
                    any previous or other Event of
                    Default.

                

        

         

        
          	
                  6.6

                	
                  The
                    Chargee may do or cause to be done all things, including the
                    payment of
                    any money, necessary to remedy any Event of Default but is under
                    no
                    obligation to do so. Any money paid by the Chargee for that purpose
                    forms
                    part of the Secured Money.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

          
            

          

        

        
          	
                  7

                	
                  Interest
                    on overdue amounts

                

        

         

        Default
          interest

         

        
          	
                  7.1

                	
                  Subject
                    to clause 7.3, the Chargor must pay interest to the Chargee on
                    demand on
                    any amount due and payable by the Chargor under a Transaction
                    Document but
                    unpaid (including interest payable under this
                    clause).

                

        

         

        
          	
                  7.2

                	
                  Interest
                    under clause 7.1:

                

        

         

        
          	 	
                  (a)

                	
                  accrues
                    on each unpaid amount from and including the due date for payment
                    to the
                    date of actual payment at the rate determined by the Chargee
                    to be the sum
                    of 3% per annum and the higher of:

                

        

         

        
          	 	
                  (i)

                	
                  the
                    cost to the Chargee of funding the unpaid amount;
                    and

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    rate, if any, applicable to the unpaid amount immediately before
                    the due
                    date;

                

        

         

        calculated
          with reference to successive periods of a length selected by the Chargee
          or, if
          no selection is made, of 1 month, starting on the due date for
          payment;

         

        
          	 	
                  (b)

                	
                  accrues
                    from day to day; 

                

        

         

        
          	 	
                  (c)

                	
                  is
                    calculated on the basis of the actual number of days elapsed
                    (including
                    the first day but excluding the last) and a 365 day year;
                    and

                

        

         

        
          	 	
                  (d)

                	
                  may
                    be compounded by the Chargee at intervals selected by the Chargee
                    or, if
                    no selection is made, at 1 month
                    intervals.

                

        

         

        
          	
                  7.3

                	
                  The
                    Chargor has no obligation to pay interest under clause 7.1 on
                    any unpaid
                    amount if the Chargor has another obligation to pay default interest
                    on
                    the same unpaid amount under another Transaction Document and
                    the Chargor
                    satisfies that other obligation.

                

        

         

        Additional
          interest

         

        
          	
                  7.4

                	
                  If
                    a liability under a Transaction Document becomes merged in a
                    judgment, the
                    Chargor must, as an independent obligation, pay interest on the
                    amount of
                    that liability to the Chargee. Interest on the amount of that
                    liability
                    will accrue from the date the amount becomes due until the date
                    the amount
                    is paid, both before and after judgment, at the rate which is
                    the higher
                    of:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    rate payable under the judgment;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  the
                    rate referred to in clause 7.2.

                

        

         

        Interest
          on assigned debts

         

        
          	
                  7.5

                	
                  Unless
                    the Chargor agrees, the Chargor has no obligation under clause
                    7.1 to pay
                    interest in relation to a debt assigned to the Chargee which
                    forms part of
                    the Secured Money, but remains bound by any other obligation
                    to pay
                    interest on that debt.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

         

          
            

          

        

        
          	
                  8

                	
                  Powers
                    of Chargee on default

                

        

         

        Powers
          of Chargee

         

        
          	
                  8.1

                	
                  If
                    an Event of Default occurs, the Chargee has the power to do all
                    acts and
                    things and exercise all rights, powers and remedies that the
                    Chargor could
                    do or exercise in relation to the Secured Property, including
                    the power
                    to:

                

        

         

        
          	 	
                  (a)

                	
                  take
                    possession:
                    enter, take possession and assume control of the Secured Property
                    and
                    collect and get in and give receipts for the Secured Property;
                    

                

        

         

        
          	 	
                  (b)

                	
                  receive
                    rents:
                    receive rents and profits of the Secured Property;
                    

                

        

         

        
          	 	
                  (c)

                	
                  manage:
                    manage the Secured Property; 

                

        

         

        
          	 	
                  (d)

                	
                  carry
                    on business:
                    carry on any business of the Chargor forming part of the Secured
                    Property,
                    or relating to it; 

                

        

         

        
          	 	
                  (e)

                	
                  maintain
                    or improve:
                    do
                    anything to maintain, protect or improve the Secured Property;
                    

                

        

         

        
          	 	
                  (f)

                	
                  make
                    calls:
                    make calls on capital and premiums of the Chargor and enforce
                    payment of
                    calls; 

                

        

         

        
          	 	
                  (g)

                	
                  sell:
                    sell or agree to sell the Secured Property on terms that the
                    Chargee
                    thinks fit and:

                

        

         

        
          	 	
                  (i)

                	
                  whether
                    or not the Chargee has taken
                    possession;

                

        

         

        
          	 	
                  (ii)

                	
                  by
                    public auction, private treaty or by tender;

                

        

         

        
          	 	
                  (iii)

                	
                  for
                    cash or on deferred purchase terms or a combination of those
                    and whether
                    or not deferred purchase terms provide for the charging of interest
                    or the
                    giving of security; 

                

        

         

        
          	 	
                  (iv)

                	
                  in
                    one lot or in parcels; 

                

        

         

        
          	 	
                  (v)

                	
                  whether
                    or not other property is sold by the Chargee or another person;
                    and

                

        

         

        
          	 	
                  (vi)

                	
                  whether
                    with or without special provisions including provisions relating
                    to title
                    and payment of the purchase money; 

                

        

         

        
          	 	
                  (h)

                	
                  lease:
                    lease or license any part of the Secured Property, and renew,
                    terminate,
                    surrender or accept the surrender of leases or licences, on terms
                    that the
                    Chargee thinks fit; 

                

        

         

        
          	 	
                  (i)

                	
                  grant
                    options:
                    grant to any person an option to purchase, lease or licence any
                    Secured
                    Property on terms that the Chargee thinks fit;

                

        

         

        
          	 	
                  (j)

                	
                  Restrictions:
                    grant, release or vary Restrictions;

                

        

         

        
          	 	
                  (k)

                	
                  fixtures:
                    add or sever fixtures and sell or agree to sell fixtures separately
                    from
                    any real property; 

                

        

         

        
          	 	
                  (l)

                	
                  make
                    agreements or compromises:
                    make any agreement or compromise which the Chargee thinks
                    fit;

                

        

         

        
          	 	
                  (m)

                	
                  transfer
                    property:
                    surrender or transfer the Secured Property to any Government
                    Agency
                    (whether or not for compensation); 

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (n)

                	
                  exchange
                    property:
                    exchange any part of the Secured Property for any other property,
                    whether
                    or not of equal value; 

                

        

         

        
          	 	
                  (o)

                	
                  employ:
                    employ or engage any person on terms that the Chargee thinks
                    fit for the
                    purpose of exercising any of the Chargee's rights, powers or
                    remedies
                    under this Deed;

                

        

         

        
          	 	
                  (p)

                	
                  delegate:
                    delegate to any person for any time as the Chargee approves any
                    or all of
                    the powers of the Chargee on terms that the Chargee thinks fit;
                    

                

        

         

        
          	 	
                  (q)

                	
                  give
                    receipts:
                    give effective receipts for all money and other assets that come
                    into the
                    hands of the Chargee; 

                

        

         

        
          	 	
                  (r)

                	
                  perform
                    and enforce:
                    carry out and enforce, or refrain from carrying out or enforcing,
                    agreements entered into or held by the Chargor in relation to
                    the Secured
                    Property or entered into in exercise of the rights, powers or
                    remedies of
                    the Chargee under this Deed;

                

        

         

        
          	 	
                  (s)

                	
                  insure:
                    insure the Secured Property;

                

        

         

        
          	 	
                  (t)

                	
                  proceedings:
                    institute, conduct, defend, discontinue, settle, arrange or compromise
                    any
                    proceedings, including proceedings relating to insurance of the
                    Secured
                    Property; 

                

        

         

        
          	 	
                  (u)

                	
                  borrow:

                

        

         

        
          	 	
                  (i)

                	
                  advance
                    money for the account of the Chargor;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  raise
                    or borrow any money in its name or in the name of or on behalf
                    of the
                    Chargor, from any person approved by the Chargee;
                    and

                

        

         

        
          	 	
                  (iii)

                	
                  secure
                    money advanced under sub-clause 8.1(u)(i) or raised or borrowed
                    under
                    sub-clause 8.1(u)(ii) by a Security Interest over any part of
                    the Secured
                    Property whether ranking in priority to, equally with or after
                    the Charge
                    or any other Security;

                

        

         

        
          	 	
                  (v)

                	
                  execute
                    documents:
                    execute and deliver documents on behalf of the Chargor under
                    seal or under
                    hand;

                

        

         

        
          	 	
                  (w)

                	
                  operate
                    bank accounts:
                    operate any bank account forming part of the Secured Property;
                    and

                

        

         

        
          	 	
                  (x)

                	
                  other
                    acts:
                    do
                    or cause to be done any other act or thing which the Chargee
                    considers
                    necessary or incidental to the exercise of any right, power or
                    remedy of
                    the Chargee.

                

        

         

        The
          powers of the Chargee under this clause are in addition to any rights,
          powers or
          remedies conferred on the Chargee by law.

         

        Exclusion
          of notice

         

        
          	
                  8.2

                	
                  The
                    Chargee and any Controller appointed by the Chargee may, to the
                    extent
                    that an applicable law permits, exercise a right, power or remedy
                    under a
                    Transaction Document without first giving any notice, or allowing
                    the
                    lapse of any period of time or fulfilling any other condition
                    precedent.

                

        

         

        
          	
                  8.3

                	
                  If
                    an applicable law provides that a right, power or remedy under
                    a
                    Transaction Document may only be exercised after a period of
                    notice is
                    given or a lapse of time occurs:

                

        

         

        
          	 	
                  (a)

                	
                  if
                    a period of notice or of time is fixed by that law, that period
                    of notice
                    must be given or lapse of that time must occur before exercise
                    of that
                    right, power or remedy; or

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (b)

                	
                  if
                    a period of notice or of time may be fixed by this Deed, one
                    Business Day
                    is fixed as the period during which:

                

        

         

        
          	 	
                  (i)

                	
                  default
                    must continue before a notice is given demanding repayment or
                    satisfaction
                    of the Secured Money; or

                

        

         

        
          	 	
                  (ii)

                	
                  a
                    notice requiring payment or satisfaction of the Secured Money
                    must remain
                    unsatisfied;

                

        

         

        before
          exercise of that right, power or remedy. 

         

        Not
          mortgagee in possession

         

        
          	
                  8.4

                	
                  If
                    the Chargee, or a Controller appointed by the Chargee, takes
                    possession of
                    any Secured Property neither the Chargee or the Controller is
                    liable as a
                    mortgagee in possession.

                

        

         

        Give
          up possession

         

        
          	
                  8.5

                	
                  The
                    Chargee may give up possession of the Secured Property or any
                    part of it
                    at any time and may discontinue a
                    receivership.

                

        

         

        Exclusion
          of liability

         

        
          	
                  8.6

                	
                  The
                    Chargee is not liable for losses of any kind which occur as a
                    result of
                    the exercise, or attempted or purported exercise or non-exercise
                    of a
                    right, power or remedy of the Chargee or a Controller appointed
                    by the
                    Chargee, including as a result of the negligence or default of
                    any
                    person.

                

        

         

        Protection
          of third parties

         

        
          	
                  8.7

                	
                  A
                    person dealing with the Chargee or a Controller appointed by
                    the Chargee
                    in connection with the exercise of any of the Chargee's or the
                    Controller's rights, powers or remedies is not bound to enquire
                    into any
                    matter in connection with the exercise of those rights, powers
                    or
                    remedies, including: 

                

        

         

        
          	 	
                  (a)

                	
                  whether
                    an Event of Default has occurred; 

                

        

         

        
          	 	
                  (b)

                	
                  whether
                    the Secured Money is due and
                    payable;

                

        

         

        
          	 	
                  (c)

                	
                  whether
                    the right, power or remedy has been properly
                    exercised;

                

        

         

        
          	 	
                  (d)

                	
                  whether
                    the appointment of a Controller has been duly made;
                    or

                

        

         

        
          	 	
                  (e)

                	
                  as
                    to the propriety or regularity of any
                    dealing.

                

        

         

        
          	
                  8.8

                	
                  A
                    dealing referred to in clause 8.7:

                

        

         

        
          	 	
                  (a)

                	
                  is
                    valid and effective despite any irregularity or impropriety referred
                    to in
                    clause 8.7; and

                

        

         

        
          	 	
                  (b)

                	
                  is
                    not affected by express or constructive notice on the part of
                    any person
                    dealing with the Chargee or a Controller appointed by the Chargee
                    of any
                    matter referred to in clause 8.7.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

         

          
            

          

        

        
          	
                  9

                	
                  Appointment
                    of Receiver

                

        

         

        Appointment

         

        
          	
                  9.1

                	
                  If
                    an Event of Default occurs the Chargee
                    may:

                

        

         

        
          	 	
                  (a)

                	
                  appoint
                    in writing: 

                

        

         

        
          	 	
                  (i)

                	
                  any
                    one or more persons to be a receiver or receiver and manager
                    of the
                    Secured Property or part of it; or 

                

        

         

        
          	 	
                  (ii)

                	
                  different
                    receivers or receivers and managers for different parts of the
                    Secured
                    Property, 

                

        

         

        on
          terms
          that the Chargee thinks fit and whether or not: 

         

        
          	 	
                  (iii)

                	
                  the
                    Chargee has taken possession of the Secured Property;
                    or

                

        

         

        
          	 	
                  (iv)

                	
                  an
                    order has been made or a resolution passed to wind-up the Chargor;
                    

                

        

         

        
          	 	
                  (b)

                	
                  remove
                    a Receiver and, if a Receiver is removed, retires or dies, appoint
                    a
                    replacement; 

                

        

         

        
          	 	
                  (c)

                	
                  fix
                    the remuneration of the Receiver at an amount or rate of commission
                    agreed
                    between the Chargee and the Receiver or, if no amount or rate
                    is agreed,
                    the amount or rate determined by the Chargee;
                    and

                

        

         

        
          	 	
                  (d)

                	
                  if
                    two or more persons are appointed as a Receiver, appoint them
                    jointly or
                    severally or jointly and severally.

                

        

         

        Agent
          of Chargor

         

        
          	
                  9.2

                	
                  A
                    Receiver is the agent of the Chargor unless and until:
                    

                

        

         

        
          	 	
                  (a)

                	
                  the
                    Chargee, by notice in writing to the Chargor and the Receiver,
                    requires
                    that the Receiver act as agent of the Chargee:
                    or

                

        

         

        
          	 	
                  (b)

                	
                  an
                    order is made or a resolution is passed for the winding-up of
                    the Chargor,
                    except to the extent that approval is given under section 420C(1) of
                    the Corporations
                    Act.

                

        

         

        
          	
                  9.3

                	
                  If
                    for any reason a Receiver ceases to be the agent of the Chargor,
                    the
                    Receiver immediately becomes the agent of the
                    Chargee.

                

        

         

        
          	
                  9.4

                	
                  While
                    the Receiver is the agent of the
                    Chargor:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    Chargor alone is responsible for the acts and defaults of the
                    Receiver;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  in
                    exercising a right, remedy or power of the Chargee, the Receiver
                    has the
                    authority of both the Chargor and the Chargee.

                

        

         

        Powers
          of Receiver

         

        
          	
                  9.5

                	
                  A
                    Receiver may do any act, matter or thing and exercise any right,
                    power or
                    remedy that may be done or exercised by the Chargee in relation
                    to the
                    Secured Property.

                

        

         

        
          	
                  9.6

                	
                  The
                    power conferred on a Receiver under clause 9.5 is:
                    

                

        

         

        
          	 	
                  (a)

                	
                  in
                    addition to any right, power or remedy conferred on the Receiver
                    by law;
                    and 

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (b)

                	
                  subject
                    to any specific limitations placed on a Receiver by the terms
                    of the
                    appointment of that Receiver.

                

        

         

         

          
            

          

        

        
          	
                  10

                	
                  Receipt
                    and application of money

                

        

         

        Order
          of application

         

        
          	
                  10.1

                	
                  The
                    Chargee or a Controller appointed by the Chargee may appropriate
                    and apply
                    money which it receives or recovers under the Charge toward any
                    part of
                    the Secured Money and in any order it determines in its absolute
                    discretion.

                

        

         

        
          	
                  10.2

                	
                  If
                    no determination is made under clause 10.1, any money received
                    or
                    recovered under the Charge must, subject to clause 10.4 and to
                    the extent
                    permitted by law, be applied in the following
                    order:

                

        

         

        
          	 	
                  (a)

                	
                  first,
                    in payment of all amounts which, to the extent required by law,
                    have
                    priority over the payments specified in the remaining paragraphs
                    of this
                    clause; 

                

        

         

        
          	 	
                  (b)

                	
                  secondly,
                    in payment of all costs, charges, expenses or other money incurred
                    or
                    payable by the Chargee, or a Controller appointed by the Chargee,
                    in or in
                    connection with the exercise or attempted or purported exercise
                    of a
                    right, power or remedy under a Transaction Document or the enforcement
                    of
                    the Charge; 

                

        

         

        
          	 	
                  (c)

                	
                  thirdly,
                    in payment of the Controller's remuneration;

                

        

         

        
          	 	
                  (d)

                	
                  fourthly,
                    in payment or satisfaction of any Security Interest of which
                    the Chargee
                    has notice having priority over the Charge, in order of, and
                    to the extent
                    of, its priority; 

                

        

         

        
          	 	
                  (e)

                	
                  fifthly,
                    in payment of the Secured Money and applied against interest,
                    principal or
                    any other amount the Chargee or Controller thinks fit;
                    

                

        

         

        
          	 	
                  (f)

                	
                  sixthly,
                    to the extent required by law, in payment of other Security Interests
                    in
                    respect of the Secured Property of which the Chargee or Controller
                    has
                    notice and which are due and payable in accordance with their
                    terms, in
                    the order of their priority; and

                

        

         

        
          	 	
                  (g)

                	
                  seventhly,
                    in payment of any surplus to the Chargor in accordance with
                    clause 10.7.

                

        

         

        Credit
          actual receipts

         

        
          	
                  10.3

                	
                  In
                    applying any money toward satisfaction of the Secured Money,
                    the Chargee
                    will credit the Chargor only with that money actually received
                    by the
                    Chargee in Cleared Funds, and that credit will date from the
                    time of
                    actual receipt.

                

        

         

        Amounts
          contingently due

         

        
          	
                  10.4

                	
                  If
                    money available for distribution to the Chargee relates to a
                    part of the
                    Secured Money which is contingently due to the Chargee: 

                

        

         

        
          	 	
                  (a)

                	
                  that
                    money may be placed in a short-term interest bearing deposit
                    account with
                    any person selected by the Chargee (including the Chargee or
                    a Related
                    Body Corporate of the Chargee) on terms determined by the Chargee
                    until
                    that part of the Secured Money becomes actually due and payable
                    or
                    otherwise ceases to be contingently due;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  at
                    that time the amount actually owing may be paid to the Chargee
                    and the
                    balance distributed in accordance with clauses 10.1 and 10.2.
                    

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        Suspense
          account

         

        
          	
                  10.5

                	
                  The
                    Chargee may retain and credit to a suspense
                    account:

                

        

         

        
          	 	
                  (a)

                	
                  any
                    money paid by the Chargor under this
                    Deed;

                

        

         

        
          	 	
                  (b)

                	
                  any
                    distribution, dividend or payment received in respect of the
                    Secured Money
                    after an Insolvency Event occurs in respect of any person;
                    and

                

        

         

        
          	 	
                  (c)

                	
                  any
                    money paid by any other person in respect of the Secured
                    Money.

                

        

         

        
          	
                  10.6

                	
                  The
                    amounts credited to the suspense account referred to in clause
                    10.5 may be
                    retained by the Chargee in that account for as long as the Chargee
                    determines is appropriate. The Chargee may apply those amounts
                    in or
                    towards satisfaction of the Secured Money at any time, but is
                    not under
                    any obligation to do so.

                

        

         

        Surplus
          money

         

        
          	
                  10.7

                	
                  If
                    at any time after satisfaction of the Secured Money the Chargee
                    holds
                    surplus money payable to the Chargor, that
                    money:

                

        

         

        
          	 	
                  (a)

                	
                  does
                    not carry interest; and 

                

        

         

        
          	 	
                  (b)

                	
                  may
                    be placed to the credit of an account in the name of the Chargor
                    with a
                    Bank.

                

        

         

        
          	
                  10.8

                	
                  The
                    Chargee has no further liability in respect of money dealt with
                    in
                    accordance with clause 10.7.

                

        

         

        Receipts
          of the Chargee

         

        
          	
                  10.9

                	
                  The
                    receipt of an Authorised Officer of the Chargee or a Controller
                    appointed
                    by the Chargee for money payable to the Chargee or another asset
                    received
                    by or for the account of the Chargee under a Transaction Document
                    relieves
                    the person making the payment or delivery from all liability
                    to enquire as
                    to:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    application of that money or other
                    asset;

                

        

         

        
          	 	
                  (b)

                	
                  whether
                    the Secured Money is due or payable;
                    or

                

        

         

        
          	 	
                  (c)

                	
                  the
                    propriety or regularity of the appointment of a Controller appointed
                    by
                    the Chargee.

                

        

         

         

          
            

          

        

        
          	
                  11

                	
                  Payments

                

        

         

        Payments
          by the Chargor

         

        
          	
                  11.1

                	
                  All
                    payments by the Chargor to the Chargee under a Transaction Document
                    must
                    be made:

                

        

         

        
          	 	
                  (a)

                	
                  not
                    later than 11:00 am on the due date for
                    payment;

                

        

         

        
          	 	
                  (b)

                	
                  in
                    Cleared Funds in Dollars; and

                

        

         

        
          	 	
                  (c)

                	
                  to
                    the account specified by the
                    Chargee;

                

        

         

        or
          in any
          other manner that the Chargee notifies to the Chargor.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        Business
          Days

         

        
          	
                  11.2

                	
                  If
                    an amount would otherwise be due for payment on a day that is
                    not a
                    Business Day, that amount is due on the next Business Day or,
                    if that
                    Business Day is in another calendar month, on the preceding Business
                    Day.

                

        

         

        
          	
                  11.3

                	
                  If
                    any act other than a payment referred to in clause 11.2 must
                    (but for this
                    clause) be done on a day that is not a Business Day, then it
                    must be done
                    on the next Business Day.

                

        

         

        Payable
          on demand

         

        
          	
                  11.4

                	
                  An
                    amount payable under a Transaction Document that is not payable
                    on a
                    specified date is payable on demand by the
                    Chargee.

                

        

         

        Payments
          in gross

         

        
          	
                  11.5

                	
                  Subject
                    to clauses 11.6 and 11.7, all money payable by the Chargor under
                    a
                    Transaction Document must
                    be paid unconditionally and in full
                    without:

                

        

         

        
          	 	
                  (a)

                	
                  set-off
                    or counterclaim of any kind; or

                

        

         

        
          	 	
                  (b)

                	
                  deduction
                    or withholding for Tax or any other reason, unless the deduction
                    or
                    withholding is required by applicable
                    law.

                

        

         

        Deductions
          and withholdings

         

        
          	
                  11.6

                	
                  If
                    the Chargor or any other person is required by law to make a
                    deduction or
                    withholding for Tax from a payment under a Transaction Document
                    or the
                    Chargee is required to make a payment for Tax on any payment
                    received or
                    receivable by it under a Transaction Document, the
                    Chargor:

                

        

         

        
          	 	
                  (a)

                	
                  indemnifies
                    the Chargee against any Claim in respect of the Tax;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  must
                    immediately pay an additional amount to the Chargee so that,
                    after all
                    applicable deductions, withholdings or payments for Tax, the
                    Chargee
                    actually receives for its own benefit a net amount equal to the
                    amount
                    which it would have received if no deductions, withholdings or
                    payments
                    had been required.

                

        

         

        
          	
                  11.7

                	
                  If
                    the Chargor is required by law to make a deduction or withholding
                    for Tax
                    from a payment to the Chargee under a Transaction Document, the
                    Chargor
                    must pay the full amount of the deduction or withholding to the
                    appropriate Government Agency in accordance with applicable law
                    and
                    deliver the original receipts to the
                    Chargee.

                

        

         

        Allocation
          of receipts

         

        
          	
                  11.8

                	
                  The
                    Chargee may allocate payments made by or for the account of the
                    Chargor
                    towards principal, interest or other money owing under a Transaction
                    Document as it considers
                    appropriate.

                

        

         

         

          
            

          

        

        
          	
                  12

                	
                  Unlawfulness
                    or increased costs

                

        

         

        Unlawfulness

         

        
          	
                  12.1

                	
                  If
                    the Chargee determines that it is or will be unlawful, or it
                    is or will be
                    contrary to any request or requirement of any central bank or
                    any other
                    Government Agency (whether or not having the force of law) for
                    the Chargee
                    to make, fund or maintain the Loan or to otherwise perform its
                    obligations
                    under a Transaction Document, the Chargee must notify the Chargor
                    of its
                    determination. On the giving of that notice to the Chargor the
                    Chargee's
                    obligation to make, fund or maintain the Loan or perform the
                    relevant
                    obligation ceases and the Loan is
                    cancelled.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	
                  12.2

                	
                  The
                    Chargor must pay the Amount Owing to the Chargee in full on the
                    earlier
                    of:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    next Interest Payment Date after receipt of the Chargee's notice;
                    or

                

        

         

        
          	 	
                  (b)

                	
                  the
                    date specified in the notice and certified by the Chargee as
                    the last day
                    on which payment is required or permitted in order to comply
                    with the
                    relevant law, request or requirement or prevent or remedy a breach
                    of the
                    relevant law.

                

        

         

        Increased
          costs

         

        
          	
                  12.3

                	
                  If
                    the Chargee determines that:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    introduction of, implementation of or a change in any law, or
                    any official
                    directive, requirement or request of any central bank or any
                    other
                    Government Agency (whether or not having the force of law but
                    compliance
                    with which is in accordance with the practice of responsible
                    banks or
                    financial institutions in the relevant jurisdiction) including
                    any one of
                    them relating to:

                

        

         

        
          	 	
                  (i)

                	
                  capital
                    adequacy, reserve, liquidity or deposit requirements, the classification
                    or allocation of capital or prudential supervision;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  a
                    Tax on or affecting payments made or to be made under a Transaction
                    Document; or

                

        

         

        
          	 	
                  (b)

                	
                  any
                    change in the interpretation or application of any law, official
                    directive, requirement or request referred to in paragraph (a)(i)
                    by a
                    Government Agency;

                

        

         

        directly
          or indirectly:

         

        
          	 	
                  (c)

                	
                  increases
                    the cost to the Chargee of underwriting, making, funding or maintaining
                    the Loan or performing an obligation under a Transaction Document;
                    

                

        

         

        
          	 	
                  (d)

                	
                  reduces
                    the amount of any payment made or payable by or for the account
                    of the
                    Chargor or a Security Provider or received or receivable by the
                    Chargee
                    under a Transaction Document;

                

        

         

        
          	 	
                  (e)

                	
                  reduces
                    the effective return to the Chargee on capital which is or becomes
                    allocated by the Chargee to the Loan or the effective return
                    on overall
                    capital of the Chargee;

                

        

         

        
          	 	
                  (f)

                	
                  imposes
                    any requirement that the Chargee make any payment or forego any
                    interest
                    or other return on or calculated by reference
                    to:

                

        

         

        
          	 	
                  (i)

                	
                  any
                    sum received or receivable by it under any Transaction Document
                    in an
                    amount which the Chargee considers material;
                    or

                

        

         

        
          	 	
                  (ii)

                	
                  any
                    capital or other amount directly or indirectly allocated by the
                    Chargee to
                    making the Loan available in an amount which the Chargee considers
                    material; or

                

        

         

        
          	 	
                  (g)

                	
                  restricts
                    or prevents the Chargee from entering into any other transaction
                    with the
                    result that the Chargee incurs any cost or loss of interest or
                    other
                    return specified in paragraphs (iii), (iv), (v) or
                    (vi);

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        the
          Chargor must in each such case pay to the Chargee on demand the amounts
          certified by the Chargee as necessary to compensate it for that increased
          cost,
          reduction, payment or foregone interest or return or other cost or loss
          of
          interest or other return (each an increased
          cost).

         

        
          	
                  12.4

                	
                  Where
                    an increased cost arises from circumstances which relate not
                    only to the
                    Chargee's funding of the Loan, but also to other business, the
                    Chargee is
                    entitled to claim as compensation for the increased cost the
                    amount it
                    determines is fairly attributable to its funding of the Loan.
                    The Chargee
                    may use averaging and attribution methods commonly used by the
                    Chargee or
                    any other method it considers
                    appropriate.

                

        

         

        
          	
                  12.5

                	
                  In
                    providing a certificate under clause 12.3, the Chargee is not
                    required to
                    disclose any confidential information relating to the organisation
                    of its
                    business. 

                

        

         

        
          	
                  12.6

                	
                  It
                    will not be a defence that any increased cost could have been
                    avoided.

                

        

         

        Mitigation
          of illegality

         

        
          	
                  12.7

                	
                  If
                    requested by the Chargor, in any case where clause 12.1 applies,
                    the
                    Chargee will take such steps as may be reasonable and available
                    to it to
                    make the Loan available by some other means including by a transfer
                    of the
                    Chargee's rights and obligations to a Related Body Corporate.
                    Failure by
                    the Chargee to do so does not release the Chargor from its obligations
                    under clause 5.1 and the Chargor agrees that no right of action
                    arises as
                    a result.

                

        

         

        
          	
                  12.8

                	
                  Nothing
                    in clause 12.7 obliges the Chargee to incur any additional costs
                    (excluding immaterial administrative expenses) or to take any
                    steps which,
                    in the Chargee's opinion, could be detrimental to its or any
                    of its
                    Related Body Corporate's interests, whether by way of an economic,
                    legal
                    or regulatory disadvantage or in any other
                    way.

                

        

         

        
          	
                  12.9

                	
                  The
                    Chargor must reimburse the Chargee on demand for any costs incurred
                    in
                    taking any steps under clause 12.7.

                

        

         

        Mitigation
          of increased costs

         

        
          	
                  12.10

                	
                  If
                    requested by the Chargor, in any case where clause 12.3 applies,
                    the
                    Chargee will take such steps as may be reasonable and available
                    to it to
                    minimise the amount of any increased cost including by a transfer
                    of the
                    Chargee's rights and obligations to a Related Body Corporate.
                    Failure by
                    the Chargee to do so does not release the Chargor from its obligations
                    under clause 12.3 and the Chargor agrees that no right of action
                    arises as
                    a result.

                

        

         

        
          	
                  12.11

                	
                  Nothing
                    in clause 12.10 obliges the Chargee to incur any additional costs
                    (excluding immaterial administrative expenses) or to take any
                    steps which,
                    in the Chargee's opinion, could be detrimental to its or any
                    of its
                    Related Body Corporate's interests, whether by way of an economic,
                    legal
                    or regulatory disadvantage or in any other
                    way.

                

        

         

        
          	
                  12.12

                	
                  The
                    Chargor must reimburse the Chargee on demand for any costs incurred
                    in
                    taking any steps under clause
                    12.10.

                

        

         

         

          
            

          

        

        
          	
                  13

                	
                  Indemnities

                

        

         

        General
          indemnity

         

        
          	
                  13.1

                	
                  The
                    Chargor unconditionally and irrevocably indemnifies the Chargee
                    against
                    any Claim suffered or incurred or payable by the Chargee arising
                    directly
                    or indirectly as a result of:

                

        

         

        
          	 	
                  (a)

                	
                  an
                    Event of Default or the exercise or attempted exercise by the
                    Chargee of a
                    right or power arising from an Event of Default;
                    or

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (b)

                	
                  the
                    failure by the Chargor to draw down the Loan for any reason (including
                    failure to satisfy a condition precedent but excluding default
                    by the
                    Chargee); or

                

        

         

        
          	 	
                  (c)

                	
                  the
                    failure of the Chargor to make a prepayment in accordance with
                    a notice of
                    prepayment or a repayment of the Loan or any part of the Loan
                    being made
                    on any day other than the last day of an Interest Period for
                    the Loan and
                    in accordance with this Agreement;
                    or

                

        

         

        
          	 	
                  (d)

                	
                  the
                    use, operation, maintenance or repair of the Secured Property
                    or the
                    breach of an Environmental Law affecting the Secured
                    Property.

                

        

         

        
          	
                  13.2

                	
                  Without
                    limiting clause 13.1, the indemnity of the Chargor includes an
                    indemnity
                    against loss of profit or other loss, cost, penalty, expense
                    or Tax
                    incurred or payable by the Chargee
                    in:

                

        

         

        
          	 	
                  (a)

                	
                  liquidating
                    or redeploying funds acquired from third parties;
                    or

                

        

         

        
          	 	
                  (b)

                	
                  terminating,
                    reversing or varying arrangements to fund the Loan or any part
                    of it or
                    any interest rate or currency hedge, related trading position,
                    or other
                    derivatives arrangement put in place by the Chargee in respect
                    of the Loan
                    or any part of it.

                

        

         

        The
          amount of loss of profit or other loss may be determined by the Chargee
          by
          reference to a pool of funds and averaging techniques rather than by reference
          to a specific borrowing or a specific contract made in respect of the Loan
          or
          any part of it.

         

        
          	
                  13.3

                	
                  Without
                    limiting clause 13.1, the indemnity of the Chargor includes an
                    indemnity
                    for legal costs and other expenses (and Taxes on those amounts)
                    on a full
                    indemnity basis.

                

        

         

        Currency
          indemnity

         

        
          	
                  13.4

                	
                  If
                    an amount payable by the Chargor or a Security Provider under
                    a
                    Transaction Document is received or recovered by the Chargee
                    or a
                    Controller in a currency other than Dollars (whether under a
                    judgment, in
                    the winding-up of the Chargor or a Security Provider or
                    otherwise):

                

        

         

        
          	 	
                  (a)

                	
                  the
                    obligations of the Chargor or the Security Provider are discharged
                    only to
                    the extent that the Chargee or Controller may purchase Dollars
                    with that
                    other currency in accordance with its usual banking procedures
                    on receipt
                    of that amount; and

                

        

         

        
          	 	
                  (b)

                	
                  the
                    Chargor indemnifies the Chargee or Controller in respect of,
                    and will
                    immediately pay to the Chargee or to the Controller, the amount
                    of any
                    shortfall between the amount in Dollars which may be purchased
                    under
                    sub-clause 13.4(a), after deducting any costs of exchange and
                    any other
                    related costs and Taxes, and the relevant sum payable under the
                    Transaction Documents.

                

        

         

        Survival
          of indemnities

         

        
          	
                  13.5

                	
                  The
                    indemnities in this Agreement are continuing obligations of the
                    Chargor,
                    separate and independent from the other obligations of the Chargor
                    and
                    survive the termination of this Agreement or any other Transaction
                    Document.

                

        

         

        
          	
                  13.6

                	
                  It
                    is not necessary for the Chargee to incur expense or make payment
                    before
                    enforcing a right of indemnity under this
                    Agreement.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

         

          
            

          

        

        
          	
                  14

                	
                  Assignment

                

        

         

        Assignment
          by the Chargor

         

        
          	
                  14.1

                	
                  The
                    Chargor must not assign or otherwise transfer, create any charge,
                    trust or
                    other interest in or otherwise deal with a Transaction Document
                    or a
                    right, remedy, power, duty or obligation under a Transaction
                    Document
                    without the prior written consent of the
                    Chargee.

                

        

         

        Assignment
          by the Chargee

         

        
          	
                  14.2

                	
                  The
                    Chargee must not assign or otherwise transfer, create any charge,
                    trust or
                    other interest in or otherwise deal with a Transaction Document
                    or a
                    right, remedy, power, duty or obligation under a Transaction
                    Document
                    without the prior written consent of the
                    Chargor.

                

        

         

        Disclosure

         

        
          	
                  14.3

                	
                  The
                    Chargee may disclose to a potential assignee, transferee, participant
                    or
                    sub-participant or any other person who is considering entering
                    into
                    contractual relations with it in connection with or in relation
                    to a
                    Transaction Document any information about the Chargor, a Security
                    Provider and the Group and the Transaction Documents as the Chargee
                    considers appropriate.

                

        

         

         

          
            

          

        

        
          	
                  15

                	
                  Set-off

                

        

         

        Set-off

         

        
          	
                  15.1

                	
                  The
                    Chargee may, without notice to the Chargor or any other person,
                    set-off
                    and apply the whole or any part of any credit balance on any
                    account of
                    the Chargor with the Chargee and any money owing by the Chargee
                    to the
                    Chargor towards satisfaction of any Secured Money irrespective
                    of:

                

        

         

        
          	 	
                  (a)

                	
                  whether
                    the account is subject to notice;

                

        

         

        
          	 	
                  (b)

                	
                  whether
                    the account is matured or the amount is due;
                    or

                

        

         

        
          	 	
                  (c)

                	
                  the
                    currency of the account or the amount
                    owing.

                

        

         

        Currency
          conversion

         

        
          	
                  15.2

                	
                  If
                    the currency of the Chargor’s account or the amount owing referred to in
                    clause 15.1 is not Dollars, the Chargee may for the purpose of
                    clause 15.1
                    effect currency exchanges in accordance with its usual banking
                    procedures
                    and apply the amount purchased, after deducting any costs of
                    exchange and
                    any other related costs and Taxes, in accordance with clause
                    15.1.

                

        

         

        Additional
          right

         

        
          	
                  15.3

                	
                  The
                    right of set-off contained in this clause 15 is in addition to
                    any general
                    or banker's lien, right of set-off, right to combine accounts
                    or other
                    right to which the Chargee is
                    entitled.

                

        

         

         

          
            

          

        

        
          	
                  16

                	
                  Notices

                

        

         

        
          	
                  16.1

                	
                  All
                    notices must be:

                

        

         

        
          	 	
                  (a)

                	
                  in
                    legible writing and in English;

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (b)

                	
                  addressed
                    to the recipient at the address or facsimile number set out below
                    or to
                    any other address or facsimile number that a party may notify
                    to the
                    other:

                

        

         

        to
          the
          Chargor:

         

        
          	
                  Address:

                	
                  Level
                    1, 204-218 Botany Road, Alexandria NSW 2015

                   

                
	
                  Attention:

                	
                  Jack
                    Vaisman/Richard Doyle

                
	
                  Facsimile
                    no:

                	
                  (02)
                    9640 5186

                

        

         

        to
          the
          Chargee:

         

        
          	
                  Address:

                	
                  530
                    Collins Street, Melbourne VIC 3001

                   

                
	
                  Attention:

                	
                  David
                    McWilliams

                
	
                  Facsimile
                    no:

                	
                  (03)
                    9273 2667

                

        

        

         

        
          	
                  Address:

                	
                  Level
                    41, 2 Park Street, Sydney NSW 2000

                   

                
	
                  Attention:

                	
                  Richard
                    Telfer

                
	
                  Facsimile
                    no:

                	
                  (02)
                    8267 8691

                

        

        

         

        
          	 	
                  (c)

                	
                  signed
                    by the party or, where the sender is a company, by an Authorised
                    Officer
                    or under the common seal of the sender;
                    and

                

        

         

        
          	 	
                  (d)

                	
                  sent
                    to the recipient by hand, prepaid post (airmail if to or from
                    a place
                    outside Australia) or facsimile.

                

        

         

        
          	
                  16.2

                	
                  Without
                    limiting any other means by which a party may be able to prove
                    that a
                    notice has been received by the other party, a notice will be
                    considered
                    to have been received:

                

        

         

        
          	 	
                  (a)

                	
                  if
                    sent by hand, when left at the address of the
                    recipient;

                

        

         

        
          	 	
                  (b)

                	
                  if
                    sent by prepaid post, 3 days (if posted within Australia to an
                    address in
                    Australia) or 10 days (if posted from one country to another)
                    after the
                    date of posting; or

                

        

         

        
          	 	
                  (c)

                	
                  if
                    sent by facsimile, on receipt by the sender of an acknowledgment
                    or
                    transmission report generated by the sender's machine indicating
                    that the
                    whole facsimile was sent to the recipient's facsimile
                    number;

                

        

         

        but
          if a
          notice is served by hand, or is received by the recipient's facsimile,
          on a day
          that is not a Business Day, or after 5:00 pm (recipient's local time) on
          a
          Business Day, the notice will be considered to have been received by the
          recipient at 9:00 am (recipient's local time) on the next Business Day.
          

         

         

          
            

          

        

        
          	
                  17

                	
                  Indemnities

                

        

         

        
          	
                  17.1

                	
                  The
                    Chargor unconditionally and irrevocably indemnifies the Chargee
                    against
                    any Claim suffered or incurred or payable by the Chargee arising
                    directly
                    or indirectly as a result of:

                

        

         

        
          	 	
                  (a)

                	
                  an
                    Event of Default or the exercise or attempted exercise by the
                    Chargee of a
                    right or power arising from an Event of Default;
                    or

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (b)

                	
                  the
                    failure of the Chargor to make a payment or perform an obligation
                    in
                    accordance with a Transaction Document;
                    or

                

        

         

        
          	 	
                  (c)

                	
                  the
                    Secured Property or the use or occupation of the Secured Property
                    by any
                    person.

                

        

         

        
          	
                  17.2

                	
                  Without
                    limiting clause 17.1, the indemnity of the Chargor includes an
                    indemnity
                    for legal costs and other expenses (and Taxes on those amounts)
                    on a full
                    indemnity basis.

                

        

         

        
          	
                  17.3

                	
                  The
                    indemnities in this Deed are continuing obligations of the Chargor,
                    separate and independent from the other obligations of the Chargor
                    and
                    survive the termination of this Deed or any other Transaction
                    Document.

                

        

         

        
          	
                  17.4

                	
                  It
                    is not necessary for the Chargee to incur expense or make payment
                    before
                    enforcing a right of indemnity under this
                    Deed.

                

        

         

         

          
            

          

        

        
          	
                  18

                	
                  Preservation
                    of rights

                

        

         

        Interests
          in land

         

        
          	
                  18.1

                	
                  The
                    Chargor must, at its own expense, if requested by the Chargee,
                    execute and
                    deliver a mortgage or other Security Interest over any real property
                    and
                    any other property or rights:

                

        

         

        
          	 	
                  (a)

                	
                  which
                    forms part of the Secured Property and which is acquired by the
                    Chargor,
                    or into which any Secured Property is converted, after the date
                    of this
                    Deed; or

                

        

         

        
          	 	
                  (b)

                	
                  which
                    is acquired by the Chargor as a result of its ownership of the
                    Secured
                    Property; or

                

        

         

        
          	 	
                  (c)

                	
                  which
                    is acquired by the Chargor as a result of the expropriation,
                    seizure,
                    confiscation, requisition, resumption or compulsory acquisition
                    of the
                    Secured Property, including any right to
                    compensation.

                

        

         

        
          	
                  18.2

                	
                  The
                    mortgage or other Security Interest referred to in clause 18.1
                    must:
                    

                

        

         

        
          	 	
                  (a)

                	
                  be
                    in favour of the Chargee;

                

        

         

        
          	 	
                  (b)

                	
                  if
                    applicable, be in registrable form;

                

        

         

        
          	 	
                  (c)

                	
                  secure
                    the Secured Money; and 

                

        

         

        
          	 	
                  (d)

                	
                  be
                    on terms acceptable to the Chargee, but no more onerous than
                    this Deed.
                    

                

        

         

        Attorney

         

        
          	
                  18.3

                	
                  The
                    Chargor irrevocably appoints the Chargee, a Controller appointed
                    by the
                    Chargee, and each of their respective Authorised Officers, severally
                    as
                    its attorney to do any of the following: 

                

        

         

        
          	 	
                  (a)

                	
                  perform
                    the obligations of the Chargor under the Transaction Documents;
                    

                

        

         

        
          	 	
                  (b)

                	
                  in
                    the name of the Chargor or the attorney, do everything the attorney
                    considers necessary or desirable to give full effect to a right,
                    remedy or
                    power of the Chargee or the Controller under a Transaction Document
                    (including signing and lodging proofs of debt and similar claims
                    in legal
                    proceedings); 

                

        

         

        
          	 	
                  (c)

                	
                  appoint
                    substitutes or delegate its powers (including this power of delegation)
                    to
                    any person for any period and revoke any substitution or delegation;
                    and

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (d)

                	
                  after
                    an Event of Default has occurred, do everything that the Chargor
                    may
                    lawfully authorise an attorney to do in respect of the Secured
                    Property.

                

        

         

        
          	
                  18.4

                	
                  An
                    attorney of the Chargor may exercise its powers even if the exercise
                    of
                    the power constitutes a conflict of interest or
                    duty.

                

        

         

        
          	
                  18.5

                	
                  If
                    required by the Chargee, the Chargor must ratify anything an
                    attorney or
                    its substitute or delegate does in exercising its powers under
                    clause
                    18.3.

                

        

         

        Completion
          of blanks

         

        
          	
                  18.6

                	
                  The
                    Chargee and each Authorised Officer of the Chargee is authorised
                    to fill
                    in any blanks and otherwise complete this Deed and any other
                    documents
                    executed by the Chargor and deposited with the Chargee in connection
                    with
                    this Deed.

                

        

         

        Priority
          of future advances

         

        
          	
                  18.7

                	
                  All
                    Secured Money which is advanced, paid, provided or otherwise
                    arises after
                    the receipt of notice by the Chargee of the creation of any other
                    Security
                    Interest is secured by this Deed in priority to any money secured
                    by that
                    other Security Interest, unless the Chargee specifically agrees
                    otherwise
                    in writing.

                

        

         

        
          	
                  18.8

                	
                  Clause
                    18.7 has effect despite:

                

        

         

        
          	 	
                  (a)

                	
                  any
                    rule of law to the contrary; and

                

        

         

        
          	 	
                  (b)

                	
                  the
                    Chargee having notice of the creation of another Security
                    Interest.

                

        

         

        Rights
          regarding prior Security Interests

         

        
          	
                  18.9

                	
                  The
                    Chargee may pay or discharge any money, obligation or liability
                    secured by
                    a Security Interest having priority over this Deed and take a
                    transfer of
                    that Security Interest for the benefit of the Chargee
                    and:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    Chargor authorises, directs and consents to a person having the
                    benefit of
                    the prior Security Interest providing the Chargee with all information
                    it
                    requires in relation to the prior Security Interest, including
                    as to
                    amounts secured by the prior Security Interest, despite any term
                    to the
                    contrary effect in that prior Security Interest;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  any
                    money paid by the Chargor to the Chargee after the date of transfer
                    is
                    available to be applied by the Chargee in its absolute discretion
                    to
                    either that part of the Secured Money comprising the money secured
                    by the
                    prior Security Interest or to any other Secured Money.
                    

                

        

         

        No
          marshalling

         

        
          	
                  18.10

                	
                  The
                    Chargee is not required before it enforces the Charge or any
                    other
                    Security to:

                

        

         

        
          	 	
                  (a)

                	
                  give
                    notice of this Deed to any person;

                

        

         

        
          	 	
                  (b)

                	
                  enforce
                    payment of or appropriate any Secured Money or other money or
                    assets which
                    it at any time holds or is entitled to receive;

                

        

         

        
          	 	
                  (c)

                	
                  marshal,
                    enforce, realise or otherwise resort to any other Security; or
                    

                

        

         

        
          	 	
                  (d)

                	
                  commence
                    proceedings or enforce any right against the Chargor or any other
                    person;

                

        

         

        unless
          the Chargee thinks fit. 

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        No
          merger

         

        
          	
                  18.11

                	
                  No
                    Transaction Document merges, discharges, postpones or adversely
                    affects in
                    any other way the rights, remedies or powers of the Chargee under
                    any
                    other Transaction Document.

                

        

         

        
          	
                  18.12

                	
                  Nothing
                    in any Transaction Document merges, discharges, postpones or
                    adversely
                    affects in any other way a Security or any of the rights, remedies
                    or
                    powers of the Chargee against any
                    person.

                

        

         

        
          	
                  18.13

                	
                  If
                    a judgment is made in favour of the Chargee against the Chargor
                    or a
                    Security Provider in respect of the Secured Money or any part
                    of it, the
                    Chargee holds the judgment collaterally with the Transaction
                    Documents as
                    security for payment of the Secured Money and no Transaction
                    Document
                    merges in the judgment.

                

        

         

        Moratorium
          legislation

         

        
          	
                  18.14

                	
                  To
                    the extent permitted by law, a provision of a law is excluded
                    if it does
                    or may, directly or indirectly: 

                

        

         

        
          	 	
                  (a)

                	
                  lessen
                    or vary in any other way the Chargor’s obligations under a Transaction
                    Document; or 

                

        

         

        
          	 	
                  (b)

                	
                  delay,
                    curtail or prevent or adversely affect in any other way the exercise
                    by
                    the Chargee or a Controller appointed by the Chargee of any of
                    its rights,
                    remedies or powers under a Transaction
                    Document.

                

        

         

        Waiver
          and exercise of rights

         

        
          	
                  18.15

                	
                  A
                    waiver by the Chargee of a provision of or of a right under a
                    Transaction
                    Document is binding on the Chargee only if it is given in writing
                    and is
                    signed by the Chargee or an Authorised Officer of the Chargee.
                    

                

        

         

        
          	
                  18.16

                	
                  A
                    waiver is effective only in the specific instance and for the
                    specific
                    purpose for which it is given.

                

        

         

        
          	
                  18.17

                	
                  A
                    single or partial exercise of a right by the Chargee does not
                    prevent
                    another exercise or attempted exercise of that right or the exercise
                    of
                    another right.

                

        

         

        
          	
                  18.18

                	
                  Failure
                    by the Chargee to exercise or delay in exercising a right does
                    not prevent
                    its exercise or operate as a
                    waiver.

                

        

         

        
          	
                  18.19

                	
                  The
                    Chargee is not liable for any loss, cost or expense of the Chargor
                    caused
                    or contributed to by the waiver, exercise, attempted exercise,
                    failure to
                    exercise or delay in the exercise of a
                    right.

                

        

         

        Rights
          cumulative

         

        
          	
                  18.20

                	
                  The
                    rights, remedies and powers under the Transaction Documents of
                    the
                    Chargee, or a Controller appointed by the Chargee, are cumulative
                    and do
                    not exclude any other rights, remedies or
                    powers.

                

        

         

        Further
          assurances

         

        
          	
                  18.21

                	
                  The
                    Chargor must, at its own expense, whenever requested by the Chargee,
                    promptly do or cause to be done, and cause each Security Provider
                    to do or
                    cause to be done, anything which the Chargee considers necessary
                    or
                    desirable to:

                

        

         

        
          	 	
                  (a)

                	
                  give
                    full effect to a Transaction Document;
                    or

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	 	
                  (b)

                	
                  more
                    fully secure the rights, remedies and powers of the Chargee under
                    a
                    Transaction Document or to enable the Chargee to exercise those
                    rights,
                    remedies and powers; or

                

        

         

        
          	 	
                  (c)

                	
                  perfect
                    or complete any transfer or assignment referred to in clause
                    18 and the
                    benefit of any Security in relation to any transfer or
                    assignment;

                

        

         

        including
          signing and delivering documents.

         

        Time
          of the essence

         

        
          	
                  18.22

                	
                  Time
                    is of the essence of the performance of each of the Chargor’s obligations
                    under each Transaction Document.

                

        

         

         

          
            

          

        

        
          	
                  19

                	
                  General
                    provisions

                

        

         

        Invalid
          or unenforceable provisions

         

        
          	
                  19.1

                	
                  If
                    a provision of this Deed is invalid or unenforceable in a
                    jurisdiction:

                

        

         

        
          	 	
                  (a)

                	
                  it
                    is to be read down or severed in that jurisdiction to the extent
                    of the
                    invalidity or unenforceability; and

                

        

         

        
          	 	
                  (b)

                	
                  that
                    fact does not affect the validity or enforceability of that provision
                    in
                    another jurisdiction or the remaining
                    provisions.

                

        

         

        
          	
                  19.2

                	
                  Without
                    limiting clause 19.1, if an Authorisation is required under any
                    law before
                    the creation of Security Interest over an item of the Secured
                    Property and
                    the absence of the Authorisation does or might render this Deed
                    invalid or
                    unenforceable in whole or in part unless and until the Authorisation
                    is
                    obtained:

                

        

         

        
          	 	
                  (a)

                	
                  the
                    Secured Property is considered not to include that item unless
                    and until
                    the Authorisation is obtained; and

                

        

         

        
          	 	
                  (b)

                	
                  immediately
                    on the Authorisation being obtained, the Secured Property includes
                    that
                    item and, if permitted by the relevant law, is deemed to have
                    included
                    that item from the date of this
                    Deed.

                

        

         

        Amendment

         

        
          	
                  19.3

                	
                  This
                    Deed may be amended only by a document signed by all
                    parties.

                

        

         

        Counterparts

         

        
          	
                  19.4

                	
                  This
                    Deed may be signed in counterparts and all counterparts taken
                    together
                    constitute one document.

                

        

         

        Successors
          and assigns

         

        
          	
                  19.5

                	
                  This
                    Deed is binding on, and has effect for the benefit of, the parties
                    and
                    their respective successors and permitted
                    assigns.

                

        

         

        Consents
          and approvals

         

        
          	
                  19.6

                	
                  The
                    Chargee may give its approval or consent conditionally or unconditionally
                    or withhold its approval or consent in its absolute discretion
                    unless a
                    Transaction Document expressly provides
                    otherwise.

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        

         

        
          	
                  19.7

                	
                  If,
                    under a Transaction Document, the Chargee must or may form an
                    opinion or
                    hold a considered view, that opinion may be formed or view held
                    in its
                    absolute discretion on its behalf by its board of directors or
                    an
                    Authorised Officer of the Chargee.

                

        

         

        
          	
                  19.8

                	
                  The
                    Chargee may give reasons in respect of a matter described in
                    clause 19.2
                    or clause 19.3 but is not obliged to do
                    so.

                

        

         

        Chargee’s
          certificate

         

        
          	
                  19.9

                	
                  A
                    certificate signed by an Authorised Officer of the Chargee stating
                    an
                    amount due, owing or payable or a rate or any other matter for
                    the purpose
                    of a Transaction Document is, in the absence of manifest error,
                    conclusive
                    and binding on the Chargor.

                

        

         

        Certifications

         

        
          	
                  19.10

                	
                  Any
                    document or thing required to be certified by the Chargor or
                    a Security
                    Provider must be certified by an Authorised Officer of the Chargor
                    or the
                    Security Provider, as the case requires, or in any other manner
                    that the
                    Chargee approves.

                

        

         

        Amendment

         

        
          	
                  19.11

                	
                  This
                    Agreement may be amended only by a document signed by all
                    parties.

                

        

         

        Counterparts

         

        
          	
                  19.12

                	
                  This
                    Agreement may be signed in counterparts and all counterparts
                    taken
                    together constitute one document.

                

        

         

        Successors
          and assigns

         

        
          	
                  19.13

                	
                  This
                    Agreement is binding on, and has effect for the benefit of, the
                    parties
                    and their respective successors and permitted
                    assigns.

                

        

         

         

          
            

          

        

        
          	
                  20

                	
                  Governing
                    law and jurisdiction

                

        

         

        
          	
                  20.1

                	
                  This
                    Deed is governed by the laws of New South
                    Wales.

                

        

         

        
          	
                  20.2

                	
                  The
                    Chargor irrevocably and
                    unconditionally:

                

        

         

        
          	 	
                  (a)

                	
                  submits
                    to the non-exclusive jurisdiction of the courts of New South
                    Wales;
                    and

                

        

         

        
          	 	
                  (b)

                	
                  waives,
                    without limitation, any claim or objection based on absence of
                    jurisdiction or inconvenient forum.

                

        

         

        Service
          of process

         

        
          	
                  20.3

                	
                  The
                    Chargor agrees that a document required to be served in proceedings
                    about
                    a Transaction Document may be
                    served:

                

        

         

        
          	 	
                  (a)

                	
                  by
                    being delivered to or left at its address for service of notices
                    under
                    clause 16.1; or

                

        

         

        
          	 	
                  (b)

                	
                  in
                    any other way permitted by law.

                

        

         

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        Execution

         

        Executed
          as
          a
          deed.

         

        
          	
                  Signed
                    sealed and delivered

                	 	 
	
                  by
                    AMI
                    Australia Holdings Pty Limited

                	 	 
	
                  In
                    accordance with section 127 of the Corporations Act

                	 	 
	 	 	 
	 	 	 
	 	 	 
	
                  Signature
                    of director/secretary

                	 	
                  Signature
                    of director

                
	 	 	 
	 	 	 
	 	 	 
	
                  Name
                    of director/secretary (please print)

                	 	
                  Name
                    of director (please print) 

                

        

        

         

        
          	
                  Signed
                    sealed and delivered

                	 	 
	
                  by
                    ANZ
                    Nominees Limited

                	 	 
	
                  In
                    accordance with section 127 of the Corporations Act

                	 	 
	 	 	 
	 	 	 
	 	 	 
	
                  Signature
                    of director/secretary

                	 	
                  Signature
                    of director

                
	 	 	 
	 	 	 
	 	 	 
	
                  Name
                    of director/secretary (please print)

                	 	
                  Name
                    of director (please print) 

                

        

        

         

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        Schedule
          1

         

        Security

         

        First
          Ranking Fixed and Floating Charge over AMI Australia Holdings Pty
          LimitedFixed
      and Floating Charge

     

    AMI
      Australia Holdings Pty Limited

     

    ANZ
      Nominees Limited as
      custodian for the 

    Professional
      Pension PST - Pension

     

      
        

      

    

    

     

    

     

    

    
      Doyle
        Corporate Pty Limited

      Solicitors

      Level
        1

      204-218
        Botany Road

      ALEXANDRIA
        NSW 2015

      Tel:
        (02)
        9640 5185

      Fax:
        (02)
        9640 5186

      Email:
        richard.doyle@aminet.com.au

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      Contents

      
        
          

        

      

      

      
        	
                Clause

              	 	 
	
                Number

              	
                Heading

              	
                Page

              
	 	 	 
	
                1

              	
                Definitions
                  and interpretation

              	
                1

              
	 	 	 
	
                2

              	
                Charge

              	
                10

              
	 	 	 
	
                3

              	
                Release
                  of Charge

              	
                13

              
	 	 	 
	
                4

              	
                Representations
                  and warranties

              	
                14

              
	 	 	 
	
                5

              	
                Undertakings

              	
                17

              
	 	 	 
	
                6

              	
                Events
                  of Default

              	
                27

              
	 	 	 
	
                7

              	
                Interest
                  on overdue amounts

              	
                31

              
	 	 	 
	
                8

              	
                Powers
                  of Chargee on default

              	
                32

              
	 	 	 
	
                9

              	
                Appointment
                  of Receiver

              	
                35

              
	 	 	 
	
                10

              	
                Receipt
                  and application of money

              	
                36

              
	 	 	 
	
                11

              	
                Payments

              	
                37

              
	 	 	 
	
                12

              	
                Unlawfulness
                  or increased costs

              	
                38

              
	 	 	 
	
                13

              	
                Indemnities

              	
                40

              
	 	 	 
	
                14

              	
                Assignment

              	
                42

              
	 	 	 
	
                15

              	
                Set-off

              	
                42

              
	 	 	 
	
                16

              	
                Notices

              	
                42

              
	 	 	 
	
                17

              	
                Indemnities

              	
                43

              
	 	 	 
	
                18

              	
                Preservation
                  of rights

              	
                44

              
	 	 	 
	
                19

              	
                General
                  provisions

              	
                47

              
	 	 	 
	
                20

              	
                Governing
                  law and jurisdiction

              	
                48

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                Date

              	
                2006

              
	 	 
	
                Parties

              	
                AMI
                  Australia Holdings Pty Limited (ACN
                  095 238 645) of Level 1, 204-218 Botany Road, Alexandria NSW 2015
                  (Chargor)

              
	 	 
	 	
                ANZ
                  Nominees Limited as custodian for the Professional Pension PST
                  - Pension
                  (ABN
                  96 005 357 568) of 530 Collins Street, Melbourne VIC 3001 (Chargee)

              
	 	 

      

       

      Operative
        provisions

       

        
          

        

      

      
        	
                1

              	
                Definitions
                  and interpretation

              

      

       

      
        	
                1.1

              	
                In
                  this Deed, unless the context requires another
                  meaning:

              

      

       

      Accounting
        Standards means:

       

      
        	 	
                (a)

              	
                the
                  accounting standards applicable for the purposes of the Corporations
                  Act;

              

      

       

      
        	 	
                (b)

              	
                the
                  requirements of the Corporations Act for
                  the preparation and content of financial reports, directors' reports
                  and
                  auditors' reports; and

              

      

       

      
        	 	
                (c)

              	
                generally
                  accepted and consistently applied accounting principles and practices
                  in
                  Australia, except those inconsistent with the standards or requirements
                  referred to in paragraphs (a) or
                  (b);

              

      

       

      Accounts means,
        for a particular period:

       

      
        	 	
                (a)

              	
                for
                  the Chargor or a Security Provider, its statement of financial
                  performance
                  and statement of cash flows for that period and its statement of
                  financial
                  position as at the end of that period;
                  and

              

      

       

      
        	 	
                (b)

              	
                for
                  the Group, the consolidated statement of financial performance
                  and
                  consolidated statement of cash flows of the Group for that period
                  and the
                  consolidated statement of financial position of the Group as at
                  the end of
                  that period; 

              

      

       

      and
        all
        disclosures, reports and notes required to be included or attached to or
        intended to be read with any of those financial statements and all directors'
        declarations about those financial statements.

       

      Amount
        Owing
        means
        all money, obligations and liabilities of any kind that are now or may in
        the
        future become due, owing or payable, whether actually, contingently or
        prospectively, by the Chargor to or for the account of the Chargee under
        or in
        relation to a Transaction Document including on account of principal, interest,
        fees, expenses, indemnity payments, losses or damages and irrespective
        of:

       

      
        	 	
                (a)

              	
                the
                  capacity of the Chargor or the Chargee (whether as principal, agent,
                  trustee, beneficiary, partner or
                  otherwise);

              

      

       

      
        	 	
                (b)

              	
                whether
                  the Chargor is liable as principal debtor or as surety;
                  

              

      

       

      
        	 	
                (c)

              	
                whether
                  the Chargor is liable alone, jointly or jointly and severally with
                  another
                  person;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (d)

              	
                whether
                  or not the money, obligation or liability is owed to the Chargee,
                  or to
                  its account, as a result of an assignment, transfer or other dealing
                  with
                  or without the Chargor's consent;
                  or

              

      

       

      
        	 	
                (e)

              	
                whether
                  the money, obligation or liability is owed or secured before or
                  after the
                  date of this Deed or any assignment of this Deed or any other Transaction
                  Document.

              

      

       

      Approved
        Purposes means
        general working capital purposes.

       

      Authorisation means:

       

      
        	 	
                (a)

              	
                any
                  authorisation, approval, licence, permit, consent, qualification,
                  accreditation, filing, registration, certificate, resolution, direction,
                  declaration or exemption and any renewal and variation of them;
                  and

              

      

       

      
        	 	
                (b)

              	
                for
                  anything which a Government Agency may prohibit or restrict within
                  a
                  specified period, the expiry of that period without intervention
                  or other
                  action by that Government Agency.

              

      

       

      Authorised
        Officer means:

       

      
        	 	
                (a)

              	
                for
                  the Chargor or a Security Provider, a director or a secretary of
                  the
                  Chargor or that Security Provider or any other person nominated
                  by the
                  Chargor or that Security Provider by notice to the Chargee to be
                  an
                  Authorised Officer, the notice to be accompanied by a certified
                  copy of
                  the signature of any person nominated;
                  and

              

      

       

      
        	 	
                (b)

              	
                for
                  the Chargee, a director or a secretary of the Chargee, or any employee
                  of
                  the Chargee whose title includes the word Manager and includes
                  a person
                  acting in any of those capacities or any other person nominated
                  by the
                  Chargee by notice to the Chargor to be an Authorised
                  Officer.

              

      

       

      Bank means
        an
        authorised deposit-taking institution authorised by the Australian Prudential
        Regulation Authority to carry on banking business under the Banking Act 1959 (Cth).

       

      Base
        Rate means
        an
        annual interest rate equal to 450 basis points above the RBA cash
        rate.

       

      Business
        Day means
        a
        day on which Banks are open for business in Sydney other than a Saturday,
        a
        Sunday or a public holiday.

       

      Charge
        means
        the charge over the Secured Property created by this Deed.

       

      Claim means
        any
        claim, cost (including legal costs on a solicitor and client basis), damages,
        debt, expense, Tax, liability, loss, obligation, allegation, suit, action,
        demand, cause of action, proceeding or judgment of any kind however calculated
        or caused, and whether direct or indirect, consequential, incidental or
        economic.

       

      Cleared
        Funds means
        money that is immediately available to the recipient and freely transferable
        by
        it.

       

      Controller has
        the
        meaning given to controller
        in
        section 9 of the Corporations Act.

       

      Corporations
        Act means
        the
Corporations
        Act 2001 (Cth).

       

      Dollars and
        $
        mean the
        lawful currency of Australia.

       

      Environmental
        Law
        means
        any law about the environment, planning, building or local government and
        includes any law about.

       

      
        	 	
                (a)

              	
                land
                  use or occupation of land or
                  buildings;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                occupational
                  health and safety;

              

      

       

      
        	 	
                (c)

              	
                heritage
                  preservation, protection or conservation of natural or cultural
                  resources;

              

      

       

      
        	 	
                (d)

              	
                noise
                  or odour;

              

      

       

      
        	 	
                (e)

              	
                pollution
                  or contamination of air, water or soil;

              

      

       

      
        	 	
                (f)

              	
                a
                  Pollutant;

              

      

       

      
        	 	
                (g)

              	
                waste
                  disposal, treatment or storage;

              

      

       

      
        	 	
                (h)

              	
                chemical,
                  toxic, hazardous, poisonous or dangerous substances;
                  or

              

      

       

      
        	 	
                (i)

              	
                pesticides.

              

      

       

      Environmental
        Liability
        means
        any liability, obligation, cost, expense, penalty, compensation or fine imposed
        or incurred under an Environmental Law on or by the Chargor or a Security
        Provider or a member of the Group as a result of activities carried on during
        the ownership of the Chargor's properties by the Chargor or a Security
        Provider or a member of the Group or its predecessor in title or by any previous
        occupier.

       

      Event
        of Default
        means an
        event listed in clause 6.

       

      Excluded
        Tax
        means a
        Tax imposed on the overall net income of the Chargee as a consequence of
        the
        Chargee being organised, doing business, being a resident of or receiving
        income
        from a source in a jurisdiction other than a Tax:

       

      
        	 	
                (a)

              	
                imposed
                  as a result of the Chargee being deemed to be organised, doing
                  business,
                  resident or receiving income in that jurisdiction only because
                  it has
                  executed or delivered a Transaction Document, or performed its
                  obligations, received a payment under or enforced a Transaction
                  Document;
                  or

              

      

       

      
        	 	
                (b)

              	
                calculated
                  on or by reference to the gross amount of any payment received
                  or
                  receivable by the Chargee under any Transaction Document (without
                  allowance for any deduction).

              

      

       

      Government
        Agency
        means:

       

      
        	 	
                (a)

              	
                a
                  government, whether foreign, federal, state, territorial or
                  local;

              

      

       

      
        	 	
                (b)

              	
                a
                  department, office or minister of a government acting in that capacity;
                  or

              

      

       

      
        	 	
                (c)

              	
                a
                  commission, delegate, instrumentality, agency, board or other government,
                  semi-government, judicial, administrative, monetary or fiscal authority,
                  whether statutory or not.

              

      

       

      Group means
        the
        Chargor and its Subsidiaries and member
        of the Group
        or
Group
        Company
        means
        any one of them.

       

      GST
        means
        GST as defined in the A
        New
        Tax System (Goods & Services Tax) Act 1999
        (Cth),
        or any like tax.

       

      Guarantee
        means a
        guarantee, indemnity, letter of credit, performance bond, letter of comfort
        or
        other assurance or assumption of responsibility, however it is described,
        given
        for a debt or liability of another person or the solvency or financial condition
        of another person.

       

      Indebtedness of
        a
        person means any debt or other monetary obligation of that person (whether
        actual or contingent, present or future and as principal, surety or
        otherwise):

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (a)

              	
                for
                  money borrowed or under any arrangement for financial accommodation
                  or
                  credit;

              

      

       

      
        	 	
                (b)

              	
                for
                  money raised including by the issue of bonds, notes, debentures,
                  loan
                  stock or similar instruments, under any note purchase facility
                  or for any
                  redeemable preference share;

              

      

       

      
        	 	
                (c)

              	
                under
                  any swap, derivatives or hedging
                  arrangement;

              

      

       

      
        	 	
                (d)

              	
                under
                  any finance or capital lease or hire purchase
                  arrangement;

              

      

       

      
        	 	
                (e)

              	
                under
                  any Guarantee;

              

      

       

      
        	 	
                (f)

              	
                for
                  the deferred purchase price of any asset or service, except trade
                  debts
                  which arise in the ordinary course of business and which are payable
                  within 90 days; or

              

      

       

      
        	 	
                (g)

              	
                under
                  any other transaction the commercial purpose or effect of which
                  is to
                  raise finance.

              

      

       

      Insolvency
        Event
        means,
        for any person that is a body corporate, the happening of one or more of
        the
        following events:

       

      
        	 	
                (a)

              	
                except
                  for the purpose of a solvent reconstruction or amalgamation which
                  has the
                  prior written consent of the
                  Chargee:

              

      

       

      
        	 	
                (i)

              	
                process
                  is filed in a court seeking an order that it be wound up or that
                  a
                  Controller be appointed to it or any of its assets, unless the
                  application
                  is withdrawn, struck out or dismissed within 7 days of it being
                  filed;
                  or

              

      

       

      
        	 	
                (ii)

              	
                an
                  order is made that it be wound up or that a Controller be appointed
                  to it
                  or any of its assets; or

              

      

       

      
        	 	
                (iii)

              	
                a
                  resolution that it be wound up is passed or
                  proposed;

              

      

       

      
        	 	
                (b)

              	
                a
                  liquidator, provisional liquidator, Controller or any similar official
                  is
                  appointed to, or takes possession or control of, all or any of
                  its assets
                  or undertaking; 

              

      

       

      
        	 	
                (c)

              	
                an
                  administrator is appointed to it, a resolution that an administrator
                  be
                  appointed to it is passed or proposed, or any other steps are taken
                  to
                  appoint an administrator to it;

              

      

       

      
        	 	
                (d)

              	
                it
                  enters into, or resolves to enter into, an arrangement, compromise
                  or
                  composition with any of, or any class of, its creditors or members,
                  or an
                  assignment for the benefit of any of, or any class of, its creditors,
                  or
                  process is filed in a court seeking approval of any such arrangement,
                  compromise or composition;

              

      

       

      
        	 	
                (e)

              	
                a
                  reorganisation, moratorium, deed of company arrangement or other
                  administration involving one or more of its creditors is proposed
                  or
                  effected;

              

      

       

      
        	 	
                (f)

              	
                any
                  action is taken by the Australian Securities and Investments Commission
                  with a view to its deregistration or its dissolution, or an application
                  is
                  made to the Australian Securities and Investments Commission that
                  any such
                  action be taken; 

              

      

       

      
        	 	
                (g)

              	
                it
                  is insolvent within the meaning of section 95A of the Corporations
                  Act, as
                  disclosed in its Accounts or otherwise, states that it is unable
                  to pay
                  its debts or it is presumed to be insolvent under any applicable
                  law;

              

      

       

      
        	 	
                (h)

              	
                as
                  a result of the operation of section 459F(1) of the Corporations
                  Act,
                  it
                  is taken to have failed to comply with a statutory
                  demand;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (i)

              	
                it
                  stops or suspends or threatens to stop or suspend the payment of
                  all or a
                  class of its debts or the conduct of all or a substantial part
                  of its
                  business;

              

      

       

      
        	 	
                (j)

              	
                any
                  event or circumstance set out in section 461 of the Corporations
                  Act
                  occurs in relation to it; or

              

      

       

      
        	 	
                (k)

              	
                anything
                  having a substantially similar effect to any of the events specified
                  in
                  paragraphs (a) to (j) inclusive happens to it under the law of
                  any
                  jurisdiction.

              

      

       

      Interest
        Payment Date
        means:

       

      
        	 	
                (a)

              	
                the
                  last day of an Interest Period; and

              

      

       

      
        	 	
                (b)

              	
                in
                  the case of an Interest Period of more than 6 months, the last
                  day of each
                  6 month period during that Interest
                  Period.

              

      

       

      Interest
        Period
        has the
        meaning ascribed to it in the Loan Agreement.

       

      Loan
        means
        the amount of AUD1.8 million to be made available by the Chargee to the Chargor
        under the Loan Agreement (as reduced or cancelled in accordance with the
        Loan
        Agreement) or the amount of the Loan that remains outstanding at any
        time.

       

      Loan
        Agreement
        means
        the loan agreement dated the same date as this Deed made between the Chargee
        and
        Chargor, or any other agreement which the parties agree to be the Loan Agreement
        for the purposes of this Deed.

       

      Material
        Adverse Effect
        means,
        for a person, in the reasonable opinion of the Chargee, a material adverse
        effect on:

       

      
        	 	
                (a)

              	
                its
                  ability to perform any of its obligations under any Transaction
                  Document; 

              

      

       

      
        	 	
                (b)

              	
                its
                  financial condition, assets, revenues, business or prospects; 

              

      

       

      
        	 	
                (c)

              	
                the
                  value of all or any part of its assets, revenues or business the
                  subject
                  of a Security or the value of any Security;
                  or

              

      

       

      
        	 	
                (d)

              	
                the
                  ability of the Chargee to exercise or enforce its rights and remedies
                  under any Transaction Document to which that person is a party,
                  including
                  the ability to enforce any security constituted or intended to
                  be
                  constituted under the Security to which that person is a
                  party.

              

      

       

      Marketable
        Securities has
        the
        meaning given to marketable
        securities
        in
        section 9 of the Corporations
        Act.

       

      Permitted
        Indebtedness
        means:

       

      
        	 	
                (a)

              	
                any
                  Indebtedness incurred under any Transaction
                  Document;

              

      

       

      
        	 	
                (b)

              	
                any
                  Indebtedness due to a Related Body Corporate that is a Security
                  Provider;

              

      

       

      
        	 	
                (c)

              	
                any
                  Indebtedness incurred with the prior written consent of the Chargee;
                  and

              

      

       

      
        	 	
                (d)

              	
                any
                  other Indebtedness incurred by the Chargor and which is outstanding
                  at any
                  time not exceeding $250,000 in
                  total.

              

      

       

      Permitted
        Restriction
        means:

       

      
        	 	
                (a)

              	
                a
                  Restriction existing at the date of this Deed which
                  is:

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (i)

              	
                disclosed
                  to the Chargee in writing by the Chargor before the date of this
                  Deed;
                  or

              

      

       

      
        	 	
                (ii)

              	
                noted
                  on a certificate or other document of title to any part of the
                  Secured
                  Property before the date of this
                  Deed;

              

      

       

      and
        to
        which the Chargee gives its written consent before the date of this Deed;
        or

       

      
        	 	
                (b)

              	
                a
                  Restriction created after the date of this Deed with the prior
                  written
                  consent of the Chargee.

              

      

       

      Permitted
        Security Interest
        means:

       

      
        	 	
                (a)

              	
                a
                  Security Interest arising under a Transaction
                  Document;

              

      

       

      
        	 	
                (b)

              	
                a
                  lien or charge arising by operation of law in the ordinary course
                  of
                  business, other than one securing an obligation not discharged
                  when
                  due;

              

      

       

      
        	 	
                (c)

              	
                a
                  Security Interest created in favour of the Chargee;
                  or

              

      

       

      
        	 	
                (d)

              	
                an
                  existing Security Interest to which the Chargee gives its written
                  consent
                  before the date of this Agreement or a Security Interest created
                  after the
                  date of this Agreement with the prior written consent of the Chargee,
                  but
                  only if:

              

      

       

      
        	 	
                (i)

              	
                the
                  Security Interest secures Permitted Indebtedness;
                  and

              

      

       

      
        	 	
                (ii)

              	
                the
                  principal amount secured by the Security Interest does not exceed
                  the
                  maximum amount which the Chargee agrees in writing that it can
                  secure.

              

      

       

      Pollutant means
        any
        solid, liquid, gas, odour, radiation, heat, sound, vibration, chemical, chemical
        waste or other substance:

       

      
        	 	
                (a)

              	
                declared
                  by a Government Agency to be hazardous, a contaminant, a risk to
                  health or
                  safety of any person or animal or plant or to otherwise cause or
                  to be
                  likely to cause the environment to be degraded;
                  or

              

      

       

      
        	 	
                (b)

              	
                which
                  harms or is likely to harm the environment or any person;
                  

              

      

       

      including
        asbestos, polychlorinated biphenyls and radioactive substances.

       

      Priority
        Amount
        means
        $2.3 million.

       

      Receiver
        means
        the person or persons appointed to be a receiver or receiver and manager
        under
        clause 9.

       

      Related
        Body Corporate
        of a
        body corporate means another body corporate which is related to the first
        body
        corporate within the meaning of Section 50 of the Corporations Act.

       

      Restriction
        means
        any:

       

      
        	 	
                (a)

              	
                caveat;

              

      

       

      
        	 	
                (b)

              	
                easement,
                  covenant, reservation, restriction on use, right to remove anything
                  from
                  land, right of way or dedication for a public
                  purpose;

              

      

       

      
        	 	
                (c)

              	
                restriction
                  on assignment, transfer or other dealing or pre-emption
                  right;

              

      

       

      
        	 	
                (d)

              	
                equity,
                  interest, assignment of income or monetary claim;
                  

              

      

       

      
        	 	
                (e)

              	
                garnishee
                  order or writ of execution; or

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (f)

              	
                lease,
                  licence to occupy or use or adverse
                  possession.

              

      

       

      Secured
        Money
        means
        all money, obligations and liabilities of any kind that are or may in the
        future
        become due, owing or payable, whether actually, contingently or prospectively,
        by the Chargor to or for the account of the Chargee under or in relation
        to a
        Transaction Document/on any account including on account of principal,
        interest, fees, expenses, indemnity payments, losses or damages and irrespective
        of:

       

      
        	 	
                (a)

              	
                the
                  capacity of the Chargor or the Chargee (whether as principal, agent,
                  trustee, beneficiary, partner or
                  otherwise);

              

      

       

      
        	 	
                (b)

              	
                whether
                  the Chargor is liable as principal debtor or as
                  surety;

              

      

       

      
        	 	
                (c)

              	
                whether
                  the Chargor is liable alone, jointly or jointly and severally with
                  another
                  person;

              

      

       

      
        	 	
                (d)

              	
                whether
                  or not the money, obligation or liability is owed to the Chargee
                  or to its
                  account as a result of an assignment, transfer or other dealing
                  with or
                  without the Chargor's consent; or

              

      

       

      
        	 	
                (e)

              	
                whether
                  the money, obligation or liability is owed or secured before or
                  after the
                  date of:

              

      

       

      
        	 	
                (i)

              	
                this
                  Deed; or

              

      

       

      
        	 	
                (ii)

              	
                any
                  assignment of this Deed or any other Transaction
                  Document.

              

      

       

      Secured
        Property
        means
        all of the property, rights and undertaking of the Chargor irrespective
        of:

       

      
        	 	
                (a)

              	
                whether
                  it is present or future;

              

      

       

      
        	 	
                (b)

              	
                whether
                  it is real or personal;

              

      

       

      
        	 	
                (c)

              	
                whether
                  it is tangible or intangible; and

              

      

       

      
        	 	
                (d)

              	
                where
                  it is located;

              

      

       

      including
        share capital which is uncalled or called but unpaid.

       

      Security
        means
        each of the documents, if any, listed in Schedule 1 and each other Guarantee,
        Security Interest or other document entered into by any person to secure
        or
        assume responsibility in respect of the payment, repayment or satisfaction
        of
        the Secured Money or any part of it.

       

      Security
        Interest
        means a
        right, interest, power or arrangement in relation to any property which provides
        security for, or protects against default by a person in, the payment or
        satisfaction of a debt, obligation or liability and any arrangement under
        which
        rights are subordinated to the rights of another party, and
        includes:

       

      
        	 	
                (a)

              	
                a
                  mortgage, charge, bill of sale, pledge, deposit, lien, encumbrance,
                  hypothecation or other security interest;

              

      

       

      
        	 	
                (b)

              	
                any
                  other arrangement having the effect of conferring security (including
                  any
                  sale, hire purchase or lease agreement, or arrangement for the
                  retention
                  of title or sale and repurchase arrangement);
                  or

              

      

       

      
        	 	
                (c)

              	
                any
                  contractual arrangement under which money or claims to, or the
                  benefit of,
                  a bank or other account may be applied, set-off or made subject
                  to a
                  combination of accounts.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Security
        Provider
        means a
        person who grants a Security other than the Chargor.

       

      Subsidiary of
        a body
        corporate means a subsidiary of that body corporate within the meaning of
        Part
        1.2 Division 6 of the Corporations Act.

       

      Tax
        means
        a
        tax, levy, charge, impost, deduction, withholding or duty of any nature
        (including stamp and transaction duty and GST) at any time: 

       

      
        	 	
                (a)

              	
                imposed
                  or levied by any Government Agency; or

              

      

       

      
        	 	
                (b)

              	
                required
                  to be remitted to, or collected, withheld or assessed by, any Government
                  Agency;

              

      

       

      and
        any
        related interest, expense, fine, penalty or other charge on those amounts
        and
        includes any amount that a person is required to pay to another person on
        account of that other person's liability for Tax but does not include an
        Excluded Tax.

       

      Transaction
        Documents means:

       

      
        	 	
                (a)

              	
                this
                  Charge;

              

      

       

      
        	 	
                (b)

              	
                each
                  Security;

              

      

       

      
        	 	
                (c)

              	
                each
                  document which the Chargee and the Chargor or a Security Provider
                  agree in
                  writing is a Transaction Document for the purposes of this Agreement;
                  and

              

      

       

      
        	 	
                (d)

              	
                each
                  document entered into or provided under any of the documents described
                  in
                  paragraphs (a), (b), (c) or (d), or for the purpose of amending
                  or
                  novating any of those documents;

              

      

       

      and
        Transaction
        Document means
        any
        of them and, when used in relation to the Chargor or a Security Provider,
        means
        any of those documents to which the Chargor or that Security Provider is
        a
        party.

       

      
        	
                1.2

              	
                In
                  this Deed, unless the context requires another meaning, a
                  reference:

              

      

       

      
        	 	
                (a)

              	
                to
                  the singular includes the plural and vice
                  versa;

              

      

       

      
        	 	
                (b)

              	
                to
                  a gender includes all genders;

              

      

       

      
        	 	
                (c)

              	
                to
                  a document (including this Agreement) is a reference to that document
                  (including any Schedules and Annexures) as amended, consolidated,
                  supplemented, novated or replaced;

              

      

       

      
        	 	
                (d)

              	
                to
                  an agreement includes any undertaking, representation, deed, agreement
                  or
                  legally enforceable arrangement or understanding whether written
                  or
                  not;

              

      

       

      
        	 	
                (e)

              	
                to
                  a party means a party to this Deed;

              

      

       

      
        	 	
                (f)

              	
                to
                  an item, Recital, clause, Schedule or Annexure is to an item, Recital,
                  clause, Schedule or Annexure of or to this
                  Deed;

              

      

       

      
        	 	
                (g)

              	
                to
                  a notice means a notice, approval, demand, request, nomination
                  or other
                  communication given by one party to another under or in connection
                  with a
                  Transaction Document;

              

      

       

      
        	 	
                (h)

              	
                to
                  a person (including a party)
                  includes:

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (i)

              	
                an
                  individual, company, other body corporate, association, partnership,
                  firm,
                  joint venture, trust or Government Agency;
                  and

              

      

       

      
        	 	
                (ii)

              	
                the
                  person's successors, permitted assigns, substitutes, executors
                  and
                  administrators; and

              

      

       

      
        	 	
                (iii)

              	
                a
                  reference to the representative member of the GST group to which
                  the
                  person belongs to the extent that the representative member has
                  assumed
                  rights, entitlements, benefits, obligations and liabilities which
                  would
                  remain with the person if the person were not a member of a GST
                  group;

              

      

       

      
        	 	
                (i)

              	
                to
                  a law: 

              

      

       

      
        	 	
                (i)

              	
                includes
                  a reference to any legislation, treaty, judgment, rule of common
                  law or
                  equity or rule of any applicable stock exchange; and
                  

              

      

       

      
        	 	
                (ii)

              	
                is
                  a reference to that law as amended, consolidated, supplemented
                  or
                  replaced; and

              

      

       

      
        	 	
                (iii)

              	
                includes
                  a reference to any regulation, rule, statutory instrument, by-law
                  or other
                  subordinate legislation;

              

      

       

      
        	 	
                (j)

              	
                to
                  proceedings includes litigation, arbitration and
                  investigation;

              

      

       

      
        	 	
                (k)

              	
                to
                  a judgment includes an order, injunction, decree, determination
                  or award
                  of any court or tribunal;

              

      

       

      
        	 	
                (l)

              	
                to
                  time is to Sydney time;

              

      

       

      
        	 	
                (m)

              	
                to
                  an accounting term is to be interpreted according to the Accounting
                  Standards;

              

      

       

      
        	 	
                (n)

              	
                to
                  the word including
                  or
                  includes
                  means including,
                  but not limited to,
                  or
                  includes,
                  without limitation. 

              

      

       

      
        	
                1.3

              	
                Where
                  a word or phrase is defined, its other grammatical forms have a
                  corresponding meaning.

              

      

       

      
        	
                1.4

              	
                Headings
                  are for convenience only and do not affect interpretation of this
                  Deed.

              

      

       

      
        	
                1.5

              	
                This
                  Deed may not be interpreted adversely to a party only because that
                  party
                  was responsible for preparing it.

              

      

       

      Joint
        and several liability

       

      
        	
                1.6

              	
                If
                  the Chargor comprises more than one person, the representations
                  made on
                  their part and the undertakings and agreements on their part contained
                  or
                  implied in this Deed bind them jointly and each of them
                  severally.

              

      

       

      
        	
                1.7

              	
                No
                  Chargor is discharged from its obligations under this Deed
                  if:

              

      

       

      
        	 	
                (a)

              	
                the
                  obligations of any other Chargor are or become invalid or unenforceable;
                  or

              

      

       

      
        	 	
                (b)

              	
                the
                  liability of any other Chargor under this Deed ceases for any reason
                  including by any release or discharge by the Chargee or by law
                  or in any
                  other way.

              

      

       

      
        	
                1.8

              	
                The
                  Chargee may enforce its rights under this Deed and proceed against
                  any one
                  or more of the persons named as a Chargor in the manner, order
                  and at the
                  times the Chargee determines in its discretion. The Chargee is
                  not
                  required to enforce its rights or proceed against all of the persons
                  named
                  as a Chargor.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                1.9

              	
                A
                  notice given by the Chargee to any one person named as a Chargor
                  is to be
                  considered to have been given to all of the persons named as a
                  Chargor.

              

      

       

      
        	
                1.10

              	
                A
                  reference to the Chargor is a reference to all of the persons named
                  as a
                  Chargor together and each of them
                  separately.

              

      

       

      
        	
                1.11

              	
                This
                  Deed binds each of the persons who execute this Deed as a Chargor
                  even if
                  any one or more of the other persons named as a Chargor do not
                  execute
                  this Deed, or execution by one or more of those other persons is
                  or
                  becomes void, voidable, illegal or
                  unenforceable.

              

      

       

      
        

      

      
        	
                2

              	
                Charge

              

      

       

      Grant
        of Charge

       

      
        	
                2.1

              	
                The
                  Chargor as beneficial owner charges the Secured Property to the
                  Chargee by
                  way of first ranking charge as security for the due and punctual
                  payment
                  and satisfaction of the Secured Money.
                  This charge ranks equally with the charge of even date granted
                  in favour
                  of ANZ Nominees Limited as custodian for the Professional Pension
                  PST -
                  Super on the date of this Deed.

              

      

       

      Ranking

       

      
        	
                2.2

              	
                The
                  Charge ranks ahead of all other Security Interests over the Secured
                  Property, including any Permitted Security Interests,
                  except:

              

      

       

      
        	 	
                (a)

              	
                any
                  Permitted Security Interest which must be preferred by law;
                  or

              

      

       

      
        	 	
                (b)

              	
                to
                  the extent provided in any priority arrangement to which the Chargee
                  agrees in writing in respect of any Permitted Security
                  Interest.

              

      

       

      Consideration

       

      
        	
                2.3

              	
                The
                  Chargor enters into this Deed for valuable consideration from the
                  Chargee
                  and acknowledges receipt of that
                  consideration.

              

      

       

      Fixed
        charge

       

      
        	
                2.4

              	
                The
                  Charge is a fixed charge on all the Chargor's present and
                  future:

              

      

       

      
        	 	
                (a)

              	
                interests
                  and rights in real property, buildings and
                  fixtures;

              

      

       

      
        	 	
                (b)

              	
                capital,
                  including uncalled and called but unpaid capital and
                  premiums;

              

      

       

      
        	 	
                (c)

              	
                personal
                  property, including plant, equipment and machinery (other than
                  stock-in-trade, work-in-progress and goods acquired for disposal
                  in the
                  ordinary course of the Chargor's
                  business);

              

      

       

      
        	 	
                (d)

              	
                goodwill,
                  patents, trademarks, copyrights, designs, trade secrets, confidential
                  information and other intellectual property
                  rights;

              

      

       

      
        	 	
                (e)

              	
                books
                  of account, registers, records, vouchers, computer software, computer
                  printouts and other information relating in any way to the business
                  of the
                  Chargor, whether the information is recorded in written form,
                  electronically, magnetically or in any other
                  way;

              

      

       

      
        	 	
                (f)

              	
                interests
                  in, and rights under, bills of exchange, promissory notes and other
                  negotiable instruments, certificates of deposit, bonds and debentures
                  issued by any person;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (g)

              	
                Marketable
                  Securities, legal or equitable rights or interests in Marketable
                  Securities, units or other legal or equitable interests in any
                  trust and
                  any options, warrants or other rights to acquire (whether by way
                  of issue
                  or transfer) any property, right or interest referred to in this
                  paragraph;

              

      

       

      
        	 	
                (h)

              	
                interests
                  in, and rights under, instruments of any kind deposited by the
                  Chargor
                  with the Chargee;

              

      

       

      
        	 	
                (i)

              	
                interests
                  in, and rights under, partnerships and joint
                  ventures;

              

      

       

      
        	 	
                (j)

              	
                the
                  benefit of all Guarantees and Security Interests to which the Chargor
                  is
                  entitled;

              

      

       

      
        	 	
                (k)

              	
                interests
                  in, and rights under, all insurance policies relating to the Secured
                  Property and the proceeds of those insurance
                  policies;

              

      

       

      
        	 	
                (l)

              	
                interests
                  in, and rights under, any contract to which the Chargor is a party,
                  all
                  things in action due or owing to the Chargor and the benefit of
                  all its
                  rights and remedies relating to those contracts and things in
                  action;

              

      

       

      
        	 	
                (m)

              	
                interests
                  in and rights under any debt or other monetary obligation forming
                  part of
                  the Secured Property whether actual or
                  contingent;

              

      

       

      
        	 	
                (n)

              	
                interests
                  in and rights under any statutory or other licence relating to
                  the
                  Chargor's business or activities or the ownership or use of any
                  part of
                  the Secured Property; and

              

      

       

      
        	 	
                (o)

              	
                documents
                  of title to any property which is the subject of a fixed
                  charge.

              

      

       

      Floating
        charge

       

      
        	
                2.5

              	
                The
                  Charge is a floating charge on all the Secured Property that is
                  not
                  subject to a fixed charge under clause
                  2.4.

              

      

       

      
        	
                2.6

              	
                The
                  Chargor may deal with any Secured Property while it is subject
                  to a
                  floating charge only in the ordinary course of the Chargor's
                  business.

              

      

       

      Crystallisation

       

      
        	
                2.7

              	
                The
                  floating charge created under clause 2.1 and clause 2.5 automatically
                  becomes a fixed charge:

              

      

       

      
        	 	
                (a)

              	
                on
                  all Secured Property not already subject to a fixed charge
                  if:

              

      

       

      
        	 	
                (i)

              	
                an
                  Insolvency Event occurs in respect of the Chargor or a Security
                  Provider;

              

      

       

      
        	 	
                (ii)

              	
                an
                  investigation of the affairs of the Chargor or a Security Provider
                  is
                  commenced under any law relating to
                  companies;

              

      

       

      
        	 	
                (iii)

              	
                distress,
                  attachment, execution or other court process is levied on or against
                  any
                  assets, revenues or the business of the Chargor or a Security
                  Provider;

              

      

       

      
        	 	
                (iv)

              	
                the
                  Chargor or a Security Provider reduces or takes steps to reduce
                  its
                  capital or limits or restricts calls on its issued but uncalled
                  capital
                  including by passing a resolution under section 254N of the Corporations
                  Act;

              

      

       

      
        	 	
                (v)

              	
                the
                  Chargee makes a demand that the Chargor pay the Secured Money under
                  clause
                  6.2 or the Charge is enforced in any other
                  way;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (vi)

              	
                an
                  Event of Default has occurred and the Chargee gives a notice in
                  writing to
                  the Chargor to that effect in relation to all of the Secured Property
                  not
                  already subject to a fixed charge;
                  or

              

      

       

      
        	 	
                (vii)

              	
                the
                  Commissioner of Taxation issues a notice under section 260-5 of
                  Schedule 1
                  of the Taxation
                  Administration Act 1953 (Cth)
                  or section 255 of the Income
                  Tax Assessment Act 1936
                  (Cth) relating to the Chargor or a Security Provider; and
                  

              

      

       

      
        	 	
                (b)

              	
                on
                  any particular asset forming part of the Secured Property and not
                  already
                  subject to a fixed charge if: 

              

      

       

      
        	 	
                (i)

              	
                the
                  Chargor deals, or attempts, purports or proposes to deal, with
                  that asset
                  in breach of a Transaction Document;

              

      

       

      
        	 	
                (ii)

              	
                a
                  person proposes to take action or action is taken to obtain a writ,
                  order,
                  notice or other thing relating to distress, attachment or other
                  execution
                  over that asset;

              

      

       

      
        	 	
                (iii)

              	
                a
                  Security Interest (other than this Charge) over that asset becomes
                  capable
                  of being enforced or a person enforces or attempts, purports or
                  proposes
                  to enforce, a Security Interest over that asset;
                  or

              

      

       

      
        	 	
                (iv)

              	
                an
                  Event of Default has occurred and the Chargee gives a notice in
                  writing to the Chargor to that effect in relation to that
                  asset.

              

      

       

      Nothing
        in any paragraph of this clause prevents the floating charge from becoming
        fixed
        as to any asset under another provision of the Charge (including another
        paragraph of this clause), or by operation of law. 

       

      Decrystallisation

       

      
        	
                2.8

              	
                If
                  the floating charge over an asset becomes fixed under clause 2.7,
                  the
                  Chargee may release that asset from the fixed charge at any time
                  by notice
                  to the Chargor.

              

      

       

      
        	
                2.9

              	
                If
                  the Chargee gives a notice under clause 2.8, the asset specified
                  in the
                  notice will, with effect from the date specified in the notice,
                  be subject
                  to a floating charge under clause 2.1 and clause 2.5 and subject
                  to the
                  further operation of clause 2.7. 

              

      

       

      Priority
        Amount

       

      
        	
                2.10

              	
                For
                  the purpose only of determining priorities between the Charge and
                  any
                  other Security Interest under Part 2K.3 of the Corporations
                  Act:

              

      

       

      
        	 	
                (a)

              	
                the
                  Charge secures:

              

      

       

      
        	 	
                (i)

              	
                all
                  Secured Money that is a present liability at the priority time
                  in relation
                  to the Charge; and

              

      

       

      
        	 	
                (ii)

              	
                all
                  Secured Money that is a prospective liability at the priority time
                  in
                  relation to the Charge, whether that Secured Money becomes a present
                  liability before or after the registration of the Charge, up to
                  a maximum
                  amount equal to the Priority Amount;
                  and

              

      

       

      
        	 	
                (b)

              	
                the
                  prospective liability secured by the Charge is all money, obligations
                  and
                  liabilities of any kind that are or may in the future become due,
                  owing or
                  payable, whether actually, contingently or prospectively by the
                  Chargor to
                  or for the account of the Chargee on any account including on account
                  of principal, interest, fees, expenses, indemnity payments, losses
                  or
                  damages;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      and
        any
        priority accorded by Part 2K.3 of the Corporations
        Act
        to the
        Charge over any other Security Interest extends to the prospective liability
        secured by the Charge only to the extent of the Priority Amount.

       

      
        	
                2.11

              	
                In
                  clause 2.10 present
                  liability,
                  priority
                  time
                  and prospective
                  liability
                  have the meaning given to those expressions in section 261 and
                  section 278
                  of the Corporations
                  Act.

              

      

       

      
        
          

        

      

      
        	
                3

              	
                Release
                  of Charge

              

      

       

      Release
        of Charge

       

      
        	
                3.1

              	
                If
                  the Chargee is satisfied that:

              

      

       

      
        	 	
                (a)

              	
                all
                  of the Secured Money is paid, discharged or performed in full; 

              

      

       

      
        	 	
                (b)

              	
                no
                  money, obligation or liability is likely to become Secured Money
                  within a
                  reasonable time; and

              

      

       

      
        	 	
                (c)

              	
                there
                  is no reasonable possibility that:

              

      

       

      
        	 	
                (i)

              	
                any
                  money received or recovered by the Chargee and applied in payment
                  of the
                  Secured Money; or

              

      

       

      
        	 	
                (ii)

              	
                any
                  settlement, conveyance, transfer or other transaction made in satisfaction
                  of or in connection with the Secured
                  Money;

              

      

       

      must
        be
        repaid or may be avoided under any law, including a law relating to preferences,
        bankruptcy, insolvency, administration or the winding-up of
        companies;

       

      the
        Chargee will discharge the Charge, at the request and cost of the
        Chargor.

       

      Partial
        release of Charge

       

      
        	
                3.2

              	
                The
                  Chargee may release any part of the Secured Property from the Charge
                  at
                  any time. 

              

      

       

      
        	
                3.3

              	
                A
                  release of part of the Secured Property from the Charge does not
                  adversely
                  affect the Charge over any other Secured Property, or any Transaction
                  Document. 

              

      

       

      Reinstatement
        of Charge

       

      
        	
                3.4

              	
                If:

              

      

       

      
        	 	
                (a)

              	
                any
                  payment, settlement, conveyance, transfer or other transaction
                  made in
                  satisfaction of or in connection with the Secured Money is void
                  or
                  voidable under any law; or

              

      

       

      
        	 	
                (b)

              	
                any
                  claim is made that any payment, settlement, conveyance, transfer
                  or other
                  transaction made in satisfaction of or in connection with the Secured
                  Money is void or voidable under any law and the claim is upheld,
                  conceded
                  or compromised;

              

      

       

      the
        Chargee is immediately entitled to the same rights, powers and remedies against
        the Chargor and the Secured Property as it would have had if the relevant
        payment, settlement, conveyance, transfer or transaction had never been made
        or
        taken place. If required by the Chargee, the Chargor must, at its own expense,
        sign all documents and do all acts necessary to restore to the Chargee the
        Charge and any other Security to which the Chargor was a party and held by
        the
        Chargee immediately before the payment, settlement, conveyance, transfer
        or
        transaction.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                3.5

              	
                Clause
                  3.4 survives the discharge of the
                  Charge.

              

      

       

      Continuing
        security

       

      
        	
                3.6

              	
                This
                  Deed is a continuing security and remains in full force and effect,
                  despite any settlement of account or any other matter or thing,
                  until a
                  final discharge is given to the
                  Chargor.

              

      

       

      
        
          

        

      

      
        	
                4

              	
                Representations
                  and warranties

              

      

       

      
        	
                4.1

              	
                The
                  Chargor represents and warrants to the Chargee
                  that:

              

      

       

      
        	 	
                (a)

              	
                status:
                  it
                  is a corporation with limited liability and is properly incorporated
                  (or
                  taken to be incorporated), registered and validly existing under
                  the
                  Corporations Act;

              

      

       

      
        	 	
                (b)

              	
                capacity
                  and power:
                  it
                  has full legal capacity and power to own its assets and to carry
                  on its
                  business as it is presently being conducted and to enter into and
                  perform
                  the Transaction Documents and the transactions contemplated by
                  the
                  Transaction Documents;

              

      

       

      
        	 	
                (c)

              	
                authority:
                  it
                  has taken all corporate and other action necessary to authorise
                  the
                  execution and performance of each Transaction Document and to carry
                  out
                  the transactions contemplated by the Transaction
                  Documents;

              

      

       

      
        	 	
                (d)

              	
                documents
                  binding:
                  the Transaction Documents constitute (or will, when signed and
                  delivered,
                  constitute) its legal, valid and binding obligations enforceable
                  against
                  it in accordance with their terms;

              

      

       

      
        	 	
                (e)

              	
                transactions
                  permitted:
                  the execution of the Transaction Documents and the performance
                  by it of
                  its obligations or the exercise of its rights under the Transaction
                  Documents do not:

              

      

       

      
        	 	
                (i)

              	
                contravene
                  its constitution or any of the provisions of the Corporations Act
                  that
                  apply to it as replaceable rules or mandatory
                  rules;

              

      

       

      
        	 	
                (ii)

              	
                contravene
                  a law or Authorisation;

              

      

       

      
        	 	
                (iii)

              	
                contravene
                  an agreement or obligation binding on it or applicable to its assets,
                  revenues or business or any agreement to which any member of the
                  Group is
                  a party;

              

      

       

      
        	 	
                (iv)

              	
                exceed
                  any limits on its powers or the powers of its
                  directors;

              

      

       

      
        	 	
                (v)

              	
                result
                  in the creation of a Security Interest over its assets, revenues
                  or
                  business, other than a Permitted Security
                  Interest;

              

      

       

      
        	 	
                (vi)

              	
                result
                  in the acceleration, cancellation, liquidation or early termination
                  of an
                  agreement or obligation relating to its Indebtedness;
                  or

              

      

       

      
        	 	
                (vii)

              	
                involve
                  any act, matter or thing which constitutes (or which would be likely
                  to
                  constitute, with the giving of notice, the passage of time, any
                  determination of materiality or the fulfilment of any other condition)
                  an
                  event of default or prepayment, cancellation, liquidation, early
                  termination or similar event under an agreement or obligation relating
                  to
                  its Indebtedness;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (f)

              	
                registration: other
                  than registration of this Charge under the Corporations Act, it
                  is not
                  necessary that a Transaction Document or any other document be
                  filed or
                  registered with any Government Agency to
                  ensure:

              

      

       

      
        	 	
                (i)

              	
                the
                  validity, enforceability or admissibility in evidence of the Transaction
                  Documents in any relevant jurisdiction;
                  or

              

      

       

      
        	 	
                (ii)

              	
                that
                  each Transaction Document which is a Security Interest has the
                  priority it
                  is intended to have;

              

      

       

      
        	 	
                (g)

              	
                Authorisations:

              

      

       

      
        	 	
                (i)

              	
                all
                  Authorisations necessary or advisable for or in connection with
                  the
                  execution, validity, performance or enforceability of each Transaction
                  Document and the transactions contemplated by the Transaction Documents
                  have been obtained and are in full force and effect, including
                  all
                  Authorisations required to be obtained from any Government Agency
                  or by
                  the Chargor or any Security Provider from any of their respective
                  members
                  or creditors;

              

      

       

      
        	 	
                (ii)

              	
                all
                  conditions of each of those Authorisations have been complied with;
                  and

              

      

       

      
        	 	
                (iii)

              	
                no
                  circumstances exist which would permit the termination, revocation,
                  suspension or cancellation of any of those
                  Authorisations;

              

      

       

      
        	 	
                (h)

              	
                Environmental
                  Laws: 

              

      

       

      
        	 	
                (i)

              	
                it
                  and each member of the Group has complied with all applicable
                  Environmental Laws and the conditions of each Authorisation issued
                  under
                  those Environmental Laws and each other material covenant, condition,
                  restriction or agreement affecting any property which is or was
                  at any
                  time occupied by it or
                  any member of the Group or on which it or
                  any member of the Group has carried on its business or conducted
                  any
                  activity; 

              

      

       

      
        	 	
                (ii)

              	
                no
                  notice of breach of any applicable Environmental Law or any of
                  those
                  Authorisations or covenants, conditions, restrictions or agreements
                  has
                  been received and, as far as it is aware, there are no grounds
                  for any
                  notice to that effect being issued;
                  and

              

      

       

      
        	 	
                (iii)

              	
                neither
                  it nor any member of the Group has incurred
                  any Environmental Liability;

              

      

       

      
        	 	
                (i)

              	
                other
                  default:
                  it
                  is not in default under any law, Authorisation, agreement or obligation
                  binding on it or applicable to its assets, revenues or business
                  and no
                  Event of Default has occurred which has not been remedied or waived
                  in
                  writing;

              

      

       

      
        	 	
                (j)

              	
                no
                  litigation:
                  no
                  litigation or arbitration, administrative proceedings or other
                  procedure
                  for the resolution of disputes is currently taking place, pending
                  or, to
                  its knowledge threatened against it or any Secured Property involving
                  a
                  claim or claims:

              

      

       

      
        	 	
                (i)

              	
                in
                  an amount exceeding (whether alone or in total) $250,000;
                  or

              

      

       

      
        	 	
                (ii)

              	
                which
                  threatens the Chargor's title to any Secured Property, may hinder
                  the
                  Chargor's use, occupation, or enjoyment of any Secured Property,
                  or may
                  have a Material Adverse Effect on it or any member of the
                  Group;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (k)

              	
                no
                  Security Interests or Restrictions:
                  no
                  Security Interest or Restriction exists over the Secured Property
                  except
                  Permitted Security Interests and Permitted
                  Restrictions;

              

      

       

      
        	 	
                (l)

              	
                ownership:
                  the Chargor is the legal and beneficial owner of the Secured Property;
                  

              

      

       

      
        	 	
                (m)

              	
                priority:
                  the Charge is a first ranking charge over the Secured Property
                  and the
                  obligations of the Chargor under this Deed rank ahead of all its
                  other
                  obligations (other than those which on its winding-up, liquidation,
                  dissolution or similar process must be preferred by operation of
                  law)
                  except to the extent provided in this Deed or any priority arrangement
                  to
                  which the Chargee agrees in writing in respect of any Permitted
                  Security
                  Interest;

              

      

       

      
        	 	
                (n)

              	
                no
                  expropriation:
                  the Chargor has no notice of any proposal by any Government Agency
                  to
                  expropriate, seize, confiscate, requisition, resume or compulsorily
                  acquire any Secured Property; 

              

      

       

      
        	 	
                (o)

              	
                compliance
                  with laws:
                  the Chargor has complied with all laws and all guidelines, directions,
                  requests or requirements of any Government Agency applicable to
                  the
                  Secured Property or the use, occupation or enjoyment of the Secured
                  Property; 

              

      

       

      
        	 	
                (p)

              	
                no
                  Pollutants: no
                  Pollutant affects the Secured Property and the Chargor has not
                  received
                  any notice from any person claiming any loss or nuisance as a result
                  of
                  any Pollutant;

              

      

       

      
        	 	
                (q)

              	
                Accounts:
                  its and the Group's most recent Accounts for the time being and
                  any
                  Accounts delivered to the Chargee under this Agreement: 

              

      

       

      
        	 	
                (i)

              	
                were
                  prepared in accordance with Accounting Standards; and
                  

              

      

       

      
        	 	
                (ii)

              	
                show
                  a true and fair view of its and the Group's financial position
                  as at the
                  end of the financial period to which they relate, and its and the
                  Group's
                  performance and the results of its and the Group's operations for
                  that
                  period;

              

      

       

      
        	 	
                (r)

              	
                no
                  adverse change:
                  since the date of the Accounts referred to in sub-clause 6.1(q),
                  there has
                  been no material adverse change in its or any member of the Group's
                  financial condition, assets, revenues, business or prospects and
                  it is not
                  aware of any matter or circumstance which has had or may have a
                  Material
                  Adverse Effect on it or any member of the Group;
                  

              

      

       

      
        	 	
                (s)

              	
                no
                  Security Interest:
                  no
                  Security Interest exists over any of its assets, revenues or business
                  except a Permitted Security
                  Interest;

              

      

       

      
        	 	
                (t)

              	
                accuracy
                  of information:
                  all information given to the Chargee by or with its authority is
                  true in
                  all material respects and is not, by omission or in any other way,
                  misleading in any material respect;

              

      

       

      
        	 	
                (u)

              	
                not
                  a trustee:
                  it
                  is not a trustee of any trust or settlement (other than in relation
                  to any
                  role it holds in respect of the Astarra Superannuation
                  Scheme);

              

      

       

      
        	 	
                (v)

              	
                no
                  immunity:
                  neither it or any of its assets, revenues or business has any immunity
                  from jurisdiction or execution;

              

      

       

      
        	 	
                (w)

              	
                tax
                  returns:
                  all Tax returns, reports and statements required to be filed by
                  it have
                  been filed properly completed and on time with the appropriate
                  Government
                  Agency in all jurisdictions in which those returns, reports and
                  statements
                  are required to be filed and all Taxes have been paid on or before
                  the due
                  date for payment;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (x)

              	
                no
                  financial benefit to a related party:
                  the execution of the Transaction Documents and the performance
                  by it of
                  its obligations or the exercise of its rights under them does not
                  constitute the giving of a financial benefit to a related party
                  of a
                  public company (within the meaning of Chapter 2E of the Corporations
                  Act)
                  by any person;

              

      

       

      
        	 	
                (y)

              	
                certifications: each
                  document, matter or thing certified by an Authorised Officer of
                  the
                  Chargor or a Security Provider is true, complete and up to
                  date;

              

      

       

      
        	 	
                (z)

              	
                benefit: it
                  benefits by entering into, exercising its rights and performing
                  its
                  obligations under the Transaction Documents;

              

      

       

      
        	 	
                (aa)

              	
                completeness:
                  there is no fact or circumstance known to it which it has not disclosed
                  in
                  writing to the Chargee, which a prudent financier would consider
                  material
                  to an assessment of the Chargor's or any Security Provider's or
                  any member
                  of the Group's status, credit-worthiness, prospects, business or
                  condition
                  or to the decision of the Chargee to enter into and perform its
                  obligations under the Transaction Documents (including any fact
                  or
                  circumstance which has had or may have a Material Adverse Effect
                  on the
                  Chargor or any Security Provider or any member of the Group);
                  

              

      

       

      
        	 	
                (bb)

              	
                title:
                  it
                  is the sole beneficial owner of the Secured Property purported
                  to be
                  charged or mortgaged by it and of all assets included in its latest
                  Accounts free of any Security Interest or other third party right
                  or
                  interest other than the Security and Permitted Security Interests;
                  and

              

      

       

      
        	 	
                (cc)

              	
                Security:
                  each Security which is intended to create a Security Interest creates
                  the
                  security interests over the Secured Property which it purports
                  to create
                  and the obligations secured by each such Security rank ahead of
                  all its
                  other payment obligations, other than those which on a winding-up,
                  liquidation, dissolution or similar process must be preferred by
                  operation
                  of law.

              

      

       

      
        	
                4.2

              	
                The
                  representations and warranties in this Deed, including those in
                  clause 4.1, survive the execution of each Transaction Document and
                  are repeated on each date on which representations and warranties
                  are
                  made, repeated or deemed to be made or repeated under any Transaction
                  Document while any of the Secured Money remains
                  outstanding.  

              

      

       

      
        	
                4.3

              	
                The
                  Chargor acknowledges that the Chargee has entered into each Transaction
                  Document in reliance on the representations and warranties in this
                  Deed.
                  

              

      

       

      
        	
                4.4

              	
                The
                  representations and warranties in this Deed are in addition to
                  any other
                  representations and warranties in any other Transaction
                  Document.

              

      

       

      
        
          

        

      

      
        	
                5

              	
                Undertakings

              

      

       

      Payment
        of Secured Money

       

      
        	
                5.1

              	
                The
                  Chargor must perform its obligations under the Transaction Documents
                  in
                  full and on time.

              

      

       

      
        	
                5.2

              	
                Without
                  limiting clause 5.1, the Chargor must pay the Secured Money to
                  the
                  Chargee:

              

      

       

      
        	 	
                (a)

              	
                in
                  accordance with the Transaction Documents;
                  or

              

      

       

      
        	 	
                (b)

              	
                on
                  demand, if payment of the Secured Money is not expressly provided
                  for in a
                  Transaction Document.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Undertakings
        relating to Secured Property

       

      
        	
                5.3

              	
                Unless
                  the Chargee otherwise agrees in writing, the Chargor
                  must:

              

      

       

      
        	 	
                (a)

              	
                financial
                  reporting:
                  in
                  respect of the Chargor and each Security Provider and the Group,
                  supply to the Chargee:

              

      

       

      
        	 	
                (i)

              	
                as
                  soon as they are available and within 120 days of the end of each
                  financial year, copies of its audited Accounts, directors' report
                  and
                  auditor's report for that financial year prepared for distribution
                  to its
                  members under section 314(1)(a) of the Corporations Act;  

              

      

       

      
        	 	
                (ii)

              	
                as
                  soon as they are available and within 90 days of the end of the
                  first half
                  of each financial year, copies of its unaudited Accounts for that
                  half-year or, if it is a disclosing entity within the meaning of
                  the
                  Corporations Act, its Accounts audited in accordance with the requirements
                  of the Corporations Act, directors' report and auditor's report
                  for that
                  half-year; and

              

      

       

      
        	 	
                (iii)

              	
                as
                  soon as they are available and within 45 days of the end of each
                  quarter
                  of each financial year, copies of its unaudited Accounts for that
                  quarter;

              

      

       

      
        	 	
                (b)

              	
                basis
                  of accounting: 
                  ensure that each set of Accounts delivered under sub-clause 7.1(a)
                  is
                  prepared in accordance with law and the Accounting Standards consistently
                  applied and, subject to those requirements, applying the same basis
                  of
                  accounting and accounting policies as were applied in the preparation
                  of
                  the audited consolidated Accounts of the Group for its financial year
                  ended 30 June 2005;

              

      

       

      
        	 	
                (c)

              	
                information:
                  deliver to the Chargee, copies of:

              

      

       

      
        	 	
                (i)

              	
                any
                  material information provided by the Chargor or any Security Provider
                  to
                  any Government Agency or any material notice issued to the Chargor
                  or any
                  Security Provider by any Government Agency, promptly after providing
                  or
                  receiving the same;

              

      

       

      
        	 	
                (ii)

              	
                all
                  documents which under applicable law it is required to issue to
                  its
                  members or debenture holders, promptly following issue of the same;
                  and

              

      

       

      
        	 	
                (iii)

              	
                any
                  other information in relation to its financial condition, business
                  or
                  assets which the Chargee reasonably requests, promptly on
                  request;

              

      

       

      
        	 	
                (d)

              	
                books
                  and records:
                  prepare and maintain, in accordance with the Accounting Standards,
                  proper
                  and adequate books and financial records in respect of its business
                  reflecting fully all transactions entered into by
                  it;

              

      

       

      
        	 	
                (e)

              	
                inspection:
                  permit the Chargee or professional consultants appointed by the
                  Chargee,
                  or both, to inspect and examine at reasonable
                  times:

              

      

       

      
        	 	
                (i)

              	
                its
                  books and financial records and to take copies of those books and
                  financial records; and

              

      

       

      
        	 	
                (ii)

              	
                any
                  property used or owned by it to determine whether the Chargor and
                  each Security Provider is complying with the Transaction Documents
                  or to
                  carry out an environmental audit,

              

      

       

      and
        to
        co-operate fully with the Chargee or its professional consultants or both
        in the
        conduct of that inspection and examination including giving full access to
        all
        its premises and employees;

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (f)

              	
                notice
                  to Chargee:
                  promptly inform the Chargee of:

              

      

       

      
        	 	
                (i)

              	
                the
                  occurrence of an Event of Default;

              

      

       

      
        	 	
                (ii)

              	
                the
                  commencement of any litigation or other proceedings or procedure
                  described
                  in sub-clause 6.1(j); 

              

      

       

      
        	 	
                (iii)

              	
                any
                  proposal by a Government Agency to compulsorily acquire the whole
                  or a
                  substantial part of its assets or business;

              

      

       

      
        	 	
                (iv)

              	
                any
                  change in its Authorised Officers, including specimen signatures
                  of any
                  new Authorised Officer appointed and, if required by the Chargee,
                  evidence
                  satisfactory to the Chargee of the appointment and authority of
                  the
                  Authorised Officer;

              

      

       

      
        	 	
                (v)

              	
                the
                  occurrence of any event or circumstance which has had or may have
                  a
                  Material Adverse Effect on the Chargor or any Security Provider
                  or any
                  member of the Group; and

              

      

       

      
        	 	
                (vi)

              	
                the
                  giving by the Chargor or any Security Provider of any financial
                  assistance
                  under section 260A(1)(a) of the Corporations
                  Act;

              

      

       

      and
        on
        the Chargee's request, promptly provide to the Chargee a certificate signed
        by
        an Authorised Officer of the Chargor stating that there are no matters to
        be
        notified to the Chargee under this sub-clause;

       

      
        	 	
                (g)

              	
                maintain
                  existence:
                  maintain its corporate existence and conduct its business  in
                  a proper and efficient manner and in compliance with all laws,
                  Authorisations, agreements and obligations binding on it or applicable
                  to
                  its assets or revenues or the conduct of its
                  business;

              

      

       

      
        	 	
                (h)

              	
                comply
                  with laws:
                  comply with and observe all
                  laws and all applicable guidelines, directions, requests or requirements
                  of a Government Agency;

              

      

       

      
        	 	
                (i)

              	
                pay
                  Taxes:
                  file all Tax returns, reports and statements required to be filed
                  by it on
                  time and pay all Taxes payable by it in full and on
                  time;

              

      

       

      
        	 	
                (j)

              	
                insurance:
                  insure all of its assets which are of an insurable nature for amounts
                  acceptable to the Chargee, with an insurance company acceptable
                  to the
                  Chargee;

              

      

       

      
        	 	
                (k)

              	
                maintain
                  Authorisations:
                  keep the Authorisations described in sub-clause 6.1(g), sub-clause
                  6.1(h)
                  and sub-clause 6.1(i) in full force and effect and comply with
                  those
                  Authorisations, and take immediate steps to obtain and keep in
                  effect any
                  other Authorisations which may become necessary or advisable
                  for:

              

      

       

      
        	 	
                (i)

              	
                the
                  execution, validity, performance and enforceability of the Transaction
                  Documents; or

              

      

       

      
        	 	
                (ii)

              	
                the
                  use of its assets or revenues or the conduct of any part of its
                  business;
                  and

              

      

       

      
        	 	
                (l)

              	
                no
                  Security Interests or Restrictions:
                  not:

              

      

       

      
        	 	
                (i)

              	
                create,
                  agree or attempt to create or permit to exist, any Security Interest
                  other
                  than a Permitted Security Interest or any Restriction other than
                  a
                  Permitted Restriction on any Secured Property;
                  or

              

      

       

      
        	 	
                (ii)

              	
                release
                  or vary any Permitted Restriction;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (m)

              	
                Permitted
                  Security Interests and Permitted
                  Restrictions:

              

      

       

      
        	 	
                (i)

              	
                promptly
                  comply with the terms of any Permitted Security Interest or Permitted
                  Restriction;

              

      

       

      
        	 	
                (ii)

              	
                not
                  do, omit to do or permit to occur anything by which the obligations
                  of
                  another person under a Permitted Security Interest or Permitted
                  Restriction would be lessened; and

              

      

       

      
        	 	
                (iii)

              	
                not
                  increase the amount secured by a Permitted Security
                  Interest;

              

      

       

      
        	 	
                (n)

              	
                ranking
                  of obligations:
                  ensure that its obligations under the Transaction Documents at
                  all times
                  rank ahead of all its other obligations (other than those which
                  on a
                  winding-up, liquidation, dissolution or similar process must be
                  preferred
                  by operation of law) except to the extent provided in any Security
                  or any
                  priority arrangement to which the Chargee agrees in writing in
                  respect of
                  any Permitted Security Interest. 

              

      

       

      
        	 	
                (o)

              	
                disposals:
                  not sell, transfer, lease or otherwise dispose of, part with possession
                  of
                  or deal with:

              

      

       

      
        	 	
                (i)

              	
                the
                  Secured Property or any estate or interest in the Secured Property;
                  or

              

      

       

      
        	 	
                (ii)

              	
                any
                  right in the Secured Property;

              

      

       

      whether
        by a single transaction or by a number of transactions, whether related or
        not,
        other than, in the case only of Secured Property subject to a floating charge
        under this Deed, in the ordinary course of the Chargor's business;

       

      
        	 	
                (p)

              	
                change
                  use:
                  not change the use of the Secured
                  Property;

              

      

       

      
        	 	
                (q)

              	
                maintain:
                  maintain and protect the Secured Property and keep it in good order
                  and
                  condition and in good and substantial repair and promptly carry
                  out all
                  work that may be required by a Government Agency in relation to
                  the
                  Secured Property; 

              

      

       

      
        	 	
                (r)

              	
                repair:
                  promptly repair every defect in the condition of the Secured Property;
                  

              

      

       

      
        	 	
                (s)

              	
                protect:
                  on
                  demand by the Chargee take or defend legal proceedings to protect
                  the
                  Secured Property; 

              

      

       

      
        	 	
                (t)

              	
                not
                  prejudice:
                  not do, omit to do or permit to occur anything which adversely
                  affects a
                  right, power or remedy of the Chargee under this Deed or which
                  does or
                  might result in any Secured Property
                  being:

              

      

       

      
        	 	
                (i)

              	
                subject
                  to a Security Interest in favour of a Government
                  Agency;

              

      

       

      
        	 	
                (ii)

              	
                surrendered,
                  forfeited, exchanged, cancelled or adversely affected in any way;
                  or

              

      

       

      
        	 	
                (iii)

              	
                reduced
                  in value;

              

      

       

      
        	 	
                (u)

              	
                no
                  alterations:
                  not pull down, alter, extend or remove any structure, building
                  or other
                  improvements, fixtures or fittings forming part of the Secured
                  Property,
                  but the consent of the Chargee must not be unreasonably withheld
                  if the
                  relevant Secured Property is worn out or damaged and is replaced
                  by
                  property of at least a similar value;

              

      

       

      
        	 	
                (v)

              	
                access:
                  provide to or procure for the Chargee or its professional consultants
                  full
                  access to the Secured Property and all premises and employees of
                  the
                  Chargor for the purpose of inspecting the Secured Property or exercising
                  a
                  right, power or remedy of the Chargee;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (w)

              	
                damage: 
                  promptly notify the Chargee of any damage, loss, theft, arrest,
                  confiscation, seizure or other event which affects or might affect
                  the
                  rights of the Chargee under this Deed or involve a loss or reduction
                  in
                  value of any Secured Property exceeding
                  $250,000;

              

      

       

      
        	 	
                (x)

              	
                inventory:
                  on
                  demand by the Chargee, provide to the Chargee a complete inventory
                  of the
                  Secured Property including the value and location of each item
                  of the
                  Secured Property; 

              

      

       

      
        	 	
                (y)

              	
                pay
                  Taxes:
                  whether or not the Chargee has taken possession of any part of
                  the Secured
                  Property, pay all Taxes for the Secured Property in full and on
                  time and
                  on demand provide the Chargee with copies of all notices received
                  for
                  those Taxes and copies of receipts for all payments;
                  

              

      

       

      
        	 	
                (z)

              	
                perform
                  leases:
                  pay in full and on time all rent and other money and perform all
                  obligations under any lease, sub-lease or licence granted to the
                  Chargor
                  and on demand provide to the Chargee the receipt for every payment;
                  

              

      

       

      
        	 	
                (aa)

              	
                deposit
                  title documents:
                  deposit with the Chargee all certificates or other documents of
                  title for
                  or evidencing any Secured Property over which the Charge is a fixed
                  charge
                  immediately on:

              

      

       

      
        	 	
                (i)

              	
                execution
                  of this Deed by the Chargor; and 

              

      

       

      
        	 	
                (ii)

              	
                acquisition
                  of any property forming part of the Secured Property after the
                  date of
                  this Deed;

              

      

       

      
        	 	
                (bb)

              	
                real
                  property:
                  promptly notify the Chargee of:

              

      

       

      
        	 	
                (i)

              	
                the
                  particulars of any real property acquired by the Chargor;
                  or

              

      

       

      
        	 	
                (ii)

              	
                any
                  Secured Property situated outside
                  Australia;

              

      

       

      
        	 	
                (cc)

              	
                requisitions:
                  use its best endeavours to answer and comply with any requisitions
                  or
                  orders made by any Government Agency in relation to the registration
                  of
                  this Deed and do all things that the Chargee considers necessary
                  or
                  desirable to assist it in registering this Deed with the Australian
                  Securities and Investments Commission or any other Government Agency,
                  including obtaining all necessary
                  consents;

              

      

       

      
        	 	
                (dd)

              	
                environmental
                  audit:
                  on
                  the Chargee's request, provide to the Chargee an environmental
                  audit
                  report for any part of the Secured Property prepared by an environmental
                  consultant acceptable to the Chargee and covering the matters required
                  by
                  the Chargee; and

              

      

       

      
        	 	
                (ee)

              	
                Pollutant: 

              

      

       

      
        	 	
                (i)

              	
                not
                  permit any Pollutant to be on, or to be released from, any Secured
                  Property other than to the extent and in the manner permitted by
                  any
                  applicable Environmental Law; and

              

      

       

      
        	 	
                (ii)

              	
                if
                  any Pollutant is found to be on, or is released from, any Secured
                  Property, take all action required by all applicable Environmental
                  Laws in
                  those circumstances, and any other action the Chargee requires
                  in respect
                  of the Pollutant.

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      General
        positive undertakings

       

      
        	
                5.4

              	
                Unless
                  the Chargee otherwise agrees in writing, the Chargor
                  must:

              

      

       

      
        	 	
                (a)

              	
                notice
                  to Chargee:
                  promptly inform the Chargee of: 

              

      

       

      
        	 	
                (i)

              	
                the
                  occurrence of an Event of Default; 

              

      

       

      
        	 	
                (ii)

              	
                the
                  commencement of any litigation or other proceedings or procedure
                  described
                  in clause 4.1(a);

              

      

       

      
        	 	
                (iii)

              	
                any
                  Pollutant being on or released from the Secured Property or the
                  receipt by
                  the Chargor of any notice claiming any loss or damage as a result
                  of a
                  Pollutant;

              

      

       

      and
        on
        the Chargee's request, promptly provide to the Chargee a certificate signed
        by
        an Authorised Officer of the Chargor stating that there are no matters to
        be
        notified to the Chargee under this clause;

       

      
        	 	
                (b)

              	
                comply
                  with laws:
                  comply with and observe all laws and all applicable guidelines,
                  directions, requests or requirements of a Government Agency including
                  those applicable to the Secured Property or to its use, occupation
                  or
                  enjoyment; and

              

      

       

      
        	 	
                (c)

              	
                ranking
                  of obligations:
                  ensure that its obligations under the Transaction Documents at
                  all times
                  rank ahead of all its other obligations (other than those which
                  on its
                  winding-up, liquidation, dissolution or similar process must be
                  preferred
                  by operation of law) except to the extent provided in this Deed
                  or any
                  other Security or any priority arrangement to which the Chargee
                  agrees in
                  writing in respect of any Permitted Security
                  Interest.

              

      

       

      Negative
        undertakings

       

      
        	
                5.5

              	
                Unless
                  the Chargee otherwise agrees in writing, the Chargor must not and
                  must
                  ensure that each of its Subsidiaries does not and must ensure that
                  each
                  Security Provider does not:

              

      

       

      
        	 	
                (a)

              	
                merger
                  or dissolution:
                  merge or consolidate with another entity or take steps toward dissolution,
                  administration, liquidation or
                  winding-up;

              

      

       

      
        	 	
                (b)

              	
                capital
                  reorganisation:
                  purchase or redeem its issued shares, reduce its capital, pass
                  a
                  resolution under section 254N of the Corporations Act or make a
                  distribution of assets or other capital to its
                  members;

              

      

       

      
        	 	
                (c)

              	
                issue
                  shares:
                  issue or agree to issue shares or grant options or warrants to
                  subscribe
                  for shares in its capital to any
                  person;

              

      

       

      
        	 	
                (d)

              	
                dividends:
                  declare or pay a dividend or otherwise distribute income to its
                  membersor
                  repay any shareholder loan if an Event of Default has occurred
                  which has
                  not been remedied to the satisfaction of the Chargee or waived
                  in
                  writing;

              

      

       

      
        	 	
                (e)

              	
                change
                  of business:
                  engage in any business other than the business conducted by the
                  Chargor or
                  Group as at the date of this Deed as carried on by it at the date
                  of this
                  Agreement or purchase, lease or otherwise acquire the use of assets
                  except
                  in the ordinary course of that business, or promote a company or
                  trust to
                  do any of those things;

              

      

       

      
        	 	
                (f)

              	
                dealing
                  with assets and third parties:
                  sell, transfer, lease or otherwise dispose of, part with possession
                  of,
                  create an interest in or otherwise deal with all or part of its
                  business,
                  assets or revenues, whether by a single transaction or by a number
                  of
                  transactions, whether related or not,
                  except:

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (i)

              	
                by
                  reason of the granting of Security;
                  and

              

      

       

      
        	 	
                (ii)

              	
                in
                  respect only of assets subject to a floating charge under the Security,
                  disposals in the ordinary course of its
                  business;

              

      

       

      or
        deal
        in any way with any person except at arms' length in the ordinary course
        of its
        business for valuable commercial consideration;

       

      
        	 	
                (g)

              	
                book
                  debts:
                  dispose of any interest in a book debt or permit a set-off or combination
                  of accounts in respect of a book debt, other than by operation
                  of law;
                  

              

      

       

      
        	 	
                (h)

              	
                Security
                  Interests:
                  create or permit to exist a Security Interest over all or any part
                  of its
                  assets, revenues or business, other than a Permitted Security
                  Interest;

              

      

       

      
        	 	
                (i)

              	
                Insolvency
                  Event:
                  do
                  anything which would cause an Insolvency Event to occur in respect
                  of
                  itself or any Security Provider;

              

      

       

      
        	 	
                (j)

              	
                share
                  transfers:
                  register a transfer of shares in its capital;

              

      

       

      
        	 	
                (k)

              	
                dealings
                  with Related Bodies
                  Corporate:

              

      

       

      
        	 	
                (i)

              	
                provide
                  financial accommodation to a Related Body Corporate, or allow to
                  remain
                  outstanding any Indebtedness owing now or in the future to it by
                  a Related
                  Body Corporate; 

              

      

       

      
        	 	
                (ii)

              	
                repay
                  or otherwise satisfy any Indebtedness due now or in the future
                  by it to a
                  Related Body Corporate; or

              

      

       

      
        	 	
                (iii)

              	
                acquire
                  assets from a Related Body Corporate, or dispose of assets to a
                  Related
                  Body Corporate, other than for a fair market value and for Cleared
                  Funds;
                  

              

      

       

      
        	 	
                (l)

              	
                constitution
                  and replaceable
                  rules:

              

      

       

      
        	 	
                (i)

              	
                if
                  it has a constitution, modify or repeal all or any provision of
                  its
                  constitution; or

              

      

       

      
        	 	
                (ii)

              	
                if
                  it has no constitution, adopt a constitution;
                  or

              

      

       

      
        	 	
                (iii)

              	
                by
                  its constitution, displace or modify after the date of this Agreement
                  the
                  provisions of the Corporations Act that apply to it as replaceable
                  rules;

              

      

       

      
        	 	
                (m)

              	
                change
                  the basis of accounting or the accounting policies applied in the
                  preparation of its Accounts or change its accounting year end;
                  

              

      

       

      
        	 	
                (n)

              	
                security
                  deposit:
                  deposit or lend money on terms that it will not be repaid until
                  its or
                  another person's obligations or indebtedness are performed or discharged;
                  

              

      

       

      
        	 	
                (o)

              	
                Indebtedness:
                  incur or permit to remain outstanding any Indebtedness other than
                  Permitted Indebtedness; 

              

      

       

      
        	 	
                (p)

              	
                loans
                  and Guarantees:
                  make any loans, grant any credit or give any Guarantee to or for
                  the
                  benefit of any person; or

              

      

       

      
        	 	
                (q)

              	
                establish
                  Subsidiary:
                  incorporate or acquire any Subsidiary. 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Insurance
        undertakings

       

      
        	
                5.6

              	
                Unless
                  the Chargee otherwise agrees in writing, the Chargor
                  must:

              

      

       

      
        	 	
                (a)

              	
                Secured
                  Property insurance:
                  insure all of the Secured Property that is insurable:
                  

              

      

       

      
        	 	
                (i)

              	
                for
                  full market replacement or reinstatement value for buildings and
                  other
                  improvements, fixtures and fittings, plant, equipment and other
                  goods
                  (other than stock-in-trade) and for full cost price for stock-in-trade;
                  and 

              

      

       

      
        	 	
                (ii)

              	
                against
                  the risks nominated in writing by the Chargee or, in the absence
                  of a
                  nomination, against loss, damage or destruction and any other risks
                  that
                  would usually be insured against by a reasonably prudent person
                  owning
                  property similar to the Secured
                  Property;

              

      

       

      
        	 	
                (b)

              	
                other
                  insurances: maintain
                  insurances for the Secured Property and the business of the Chargor
                  that
                  would usually be maintained by a reasonably prudent person conducting
                  a
                  business similar to the business of the Chargor, including
                  for:

              

      

       

      
        	 	
                (i)

              	
                public
                  risk and products liability for a minimum amount of $20
                  million;

              

      

       

      
        	 	
                (ii)

              	
                loss
                  of rent and business interruption with a minimum indemnity period
                  of 12
                  months;

              

      

       

      
        	 	
                (iii)

              	
                worker's
                  compensation in accordance with applicable
                  law;

              

      

       

      
        	 	
                (iv)

              	
                civil
                  liability in respect of material breaches of Environmental
                  Laws;

              

      

       

      and
        any
        other insurance reasonably requested by the Chargee, in each case for amounts
        and to the extent that the Chargee determines is prudent;

       

      
        	 	
                (c)

              	
                insurer:
                  ensure that all insurance policies are issued by a reputable insurer
                  independent of the Chargor reasonably acceptable to the
                  Chargee;

              

      

       

      
        	 	
                (d)

              	
                content:
                  ensure that all insurance policies are on terms reasonably acceptable
                  to
                  the Chargee and, without
                  limitation:

              

      

       

      
        	 	
                (i)

              	
                are
                  taken out in the names of the Chargor and Chargee as insureds for
                  the full
                  value of their respective rights and
                  interests;

              

      

       

      
        	 	
                (ii)

              	
                name
                  the Chargee as loss payee for claims involving the Secured Property
                  (except in the case of a reinstatement policy where payments are
                  to be
                  made directly to the person effecting the reinstatement) or any
                  other
                  claim for which loss funds would, in the absence of this provision,
                  be
                  payable to the Chargor;

              

      

       

      
        	 	
                (iii)

              	
                contain
                  a provision that the policy cannot be cancelled unless the Chargee
                  has
                  received from the insurer 30 days prior written notice of the proposed
                  cancellation and, if there is a default in the payment of premiums
                  or a
                  breach of any other term of the policy, unless that notice specifies
                  the
                  relevant breach and the breach is not remedied, by the Chargee
                  or by any
                  other person, on or before the expiry of that 30 day
                  period;

              

      

       

      
        	 	
                (iv)

              	
                contain
                  a provision that breach of any term of the policy, or any non-disclosure,
                  misrepresentation or fraud or any other act, omission or neglect
                  by an
                  insured will not invalidate the cover or prejudice or reduce the
                  rights of
                  any other insured;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (v)

              	
                contain
                  a waiver of any rights of the insurer to set-off, counterclaim,
                  make any
                  deduction or seek contribution in connection with amounts payable
                  to the
                  Chargee, including where other insurances are effected by the Chargee
                  against the same loss in respect of which those amounts are
                  payable;

              

      

       

      
        	 	
                (vi)

              	
                except
                  as provided in paragraph (v) above, contain a waiver of all claims
                  against
                  the Chargee for insurance premiums, Taxes, commissions or other
                  amounts
                  due;

              

      

       

      
        	 	
                (e)

              	
                renew
                  insurances:
                  renew all insurance policies before their expiry and extend insurance
                  policies when further insurable risks
                  arise;

              

      

       

      
        	 	
                (f)

              	
                pay
                  premiums:
                  pay all insurance premiums, Taxes, commissions and other amounts
                  necessary
                  for taking out, maintaining, renewing or extending all insurance
                  policies
                  in full and on time;

              

      

       

      
        	 	
                (g)

              	
                deliver
                  policies:
                  deliver to the Chargee every insurance policy, every alteration
                  or
                  addition to a policy, and every certificate of currency and related
                  receipts and any other details of the insurance policies which
                  the Chargee
                  requires;

              

      

       

      
        	 	
                (h)

              	
                no
                  changes:
                  not cancel or vary an insurance
                  policy;

              

      

       

      
        	 	
                (i)

              	
                not
                  prejudice:
                  not do or allow an act or omission to be done or occur (including
                  any non
                  disclosure of any information or any alteration or addition to
                  an
                  improvement forming part of the Secured Property) by
                  which:

              

      

       

      
        	 	
                (i)

              	
                an
                  insurance policy may be cancelled;

              

      

       

      
        	 	
                (ii)

              	
                the
                  premium may be increased;

              

      

       

      
        	 	
                (iii)

              	
                insurance
                  is or becomes insufficient; or

              

      

       

      
        	 	
                (iv)

              	
                a
                  claim may be prejudiced in any way;

              

      

       

      
        	 	
                (j)

              	
                notice
                  to Chargee:
                  promptly notify the Chargee of:

              

      

       

      
        	 	
                (i)

              	
                the
                  full particulars of any event which does or might give rise to
                  a right to
                  claim under an insurance policy and provide to the Chargee any
                  further
                  information that comes into the possession of the Chargor relating
                  to that
                  claim or potential claim;

              

      

       

      
        	 	
                (ii)

              	
                the
                  cancellation or proposed cancellation, variation or reduction of
                  an
                  insurance policy;

              

      

       

      
        	 	
                (iii)

              	
                any
                  insurance policy becoming void or voidable;
                  and

              

      

       

      
        	 	
                (iv)

              	
                any
                  other material circumstances or correspondence relating to an insurance
                  policy;

              

      

       

      
        	 	
                (k)

              	
                notice
                  to insurer: promptly
                  notify the relevant insurer, in accordance with the terms of the
                  relevant
                  insurance policy, of any event which does or might give rise to
                  a right to
                  claim under an insurance policy;
                  and

              

      

       

      
        	 	
                (l)

              	
                settlement
                  of claims:
                  not make, enforce, settle or compromise any claim in respect of
                  insurance
                  or for compensation but permit the Chargee alone to do those things
                  and to
                  sue and give discharges for all insurance claims and
                  moneys.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Chargee
        may insure

       

      
        	
                5.7

              	
                If:

              

      

       

      
        	 	
                (a)

              	
                the
                  Chargor fails to take out, maintain, renew or extend an insurance
                  policy
                  in accordance with clause 5.6;

              

      

       

      
        	 	
                (b)

              	
                the
                  Chargee determines that an insurer may become entitled to cancel
                  or avoid
                  an insurance policy effected under clause 5.6;
                  or

              

      

       

      
        	 	
                (c)

              	
                the
                  Chargee determines that an insurer under an insurance policy may
                  not be
                  capable of meeting a claim;

              

      

       

      the
        Chargee may do anything which it determines is advisable or necessary to
        take
        out or keep in force that policy or to take out a new policy complying with
        clause 5.6 at the cost of the Chargor and in the name of the Chargor or the
        Chargee or both. The Chargee is not obliged to do anything under this
        clause.

       

      Application
        of insurance money

       

      
        	
                5.8

              	
                If
                  no Event of Default has occurred and is subsisting, any money received
                  or
                  recovered under a claim involving the Secured Property, or any
                  other claim
                  for which the loss funds are payable to the Chargor, which is not
                  required
                  under the terms of a reinstatement policy to be paid to another
                  person
                  under a contract for reinstatement, must be held in a separate
                  account for
                  the Chargee and applied, at the option of the
                  Chargor:

              

      

       

      
        	 	
                (a)

              	
                towards
                  satisfaction of the Secured Money in accordance with clause 10;
                  or 

              

      

       

      
        	 	
                (b)

              	
                to
                  the extent necessary, to repair, replace or reinstate the Secured
                  Property
                  or otherwise for the purpose for which the relevant insurance policy
                  was
                  maintained.

              

      

       

      
        	
                5.9

              	
                If
                  an Event of Default has occurred and is subsisting, money referred
                  to in
                  clause 5.8 may be applied, at the option of the Chargee, for any
                  of the
                  purposes referred to in clause 5.8(a) or
                  (b).

              

      

       

      
        	
                5.10

              	
                The
                  Chargor must ensure that:

              

      

       

      
        	 	
                (a)

              	
                any
                  money received or recovered under a claim for workers compensation
                  or
                  public risk and products liability is paid to the person entitled
                  to be
                  compensated under the relevant policy;
                  and

              

      

       

      
        	 	
                (b)

              	
                any
                  money received or recovered under a reinstatement policy is paid,
                  if
                  required under the terms of the policy, to the person entitled
                  to payment
                  under the contract for reinstatement of the Secured
                  Property.

              

      

       

      Consent
        of Chargee

       

      
        	
                5.11

              	
                If
                  any consent or approval of the Chargee is given, or compliance
                  by the
                  Chargor of any undertaking is waived, subject to compliance by
                  the Chargor
                  with any condition at or before a particular time, the Chargor
                  must comply
                  with that condition.

              

      

       

      Chargee
        may act

       

      
        	
                5.12

              	
                The
                  Chargee may do or cause to be done all things, including the payment
                  of
                  any money, which must be done by the Chargor under this Deed but
                  which the
                  Chargor fails to do in accordance with this Deed or which the Chargor
                  fails to do to the satisfaction of the Chargee. Any money paid
                  by the
                  Chargee for this purpose forms part of the Secured
                  Money.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          

        

      

      
        	
                6

              	
                Events
                  of Default

              

      

       

      
        	
                6.1

              	
                It
                  is an Event of Default if:

              

      

       

      
        	 	
                (a)

              	
                non-payment
                  of principal:
                  the Chargor fails to pay any part of the Secured Money in accordance
                  with
                  clause 5.1 of this Deed;

              

      

       

      
        	 	
                (b)

              	
                non-payment
                  of other money:
                  the Chargor or a Security Provider fails to pay within 10 Business
                  Days of
                  the due date for payment any fees, costs, charges, expenses or
                  other money
                  payable under a Transaction
                  Document;

              

      

       

      
        	 	
                (c)

              	
                other
                  default:
                  the Chargor fails to perform or observe any other obligation under
                  a
                  Transaction Document and:

              

      

       

      
        	 	
                (i)

              	
                the
                  Chargee considers (acting reasonably) that the failure or default
                  cannot
                  be remedied; or

              

      

       

      
        	 	
                (ii)

              	
                the
                  Chargee considers that the failure or default can be remedied,
                  but it is
                  not remedied to the Chargee's satisfaction within 20 Business Days
                  (or any
                  longer period the Chargee approves) from the earlier of:
                  

              

      

       

      
        	 	
                (A)

              	
                the
                  date the Chargor became aware of the default or ought reasonably
                  to have
                  become aware of the default; and

              

      

       

      
        	 	
                (B)

              	
                receipt
                  by the Chargor of a notice from the Chargee requiring it to remedy
                  the
                  default; 

              

      

       

      
        	 	
                (d)

              	
                default
                  under Transaction Documents:
                  an
                  event of default (however described in the relevant Transaction
                  Document)
                  occurs under the Loan Agreement or any other Transaction
                  Document;

              

      

       

      
        	 	
                (e)

              	
                ownership
                  of Secured Property:
                  the Chargor ceases for any reason to be the legal and beneficial
                  owner of
                  any part of the Secured Property other than as permitted under
                  a
                  Transaction Document; 

              

      

       

      
        	 	
                (f)

              	
                Insolvency
                  Event:
                  an
                  Insolvency Event occurs in respect of the
                  Chargor;

              

      

       

      
        	 	
                (g)

              	
                execution:
                  distress, attachment, execution or other court process or any judgment
                  is
                  issued, levied or enforced on or against the Chargor or any Secured
                  Property;

              

      

       

      
        	 	
                (h)

              	
                expropriation:
                  a
                  Government Agency expropriates all or a substantial part of the
                  assets or
                  business of the Chargor, or seizes, confiscates, requisitions,
                  resumes or
                  compulsorily acquires any Secured Property or proposes to do any
                  of those
                  things; 

              

      

       

      
        	 	
                (i)

              	
                use
                  and occupation:
                  the use or occupation of the Secured Property by the Chargor contravenes
                  a
                  law or a guideline, direction, request or requirement of a Government
                  Agency; 

              

      

       

      
        	 	
                (j)

              	
                litigation:
                  a
                  proceeding is commenced against the Chargor or in relation to any
                  Secured
                  Property which does or may:

              

      

       

      
        	 	
                (i)

              	
                threaten
                  the Chargor's title to any Secured Property;
                  or

              

      

       

      
        	 	
                (ii)

              	
                restrict
                  the Chargor's use, occupation or enjoyment of any Secured Property;
                  

              

      

       

      
        	 	
                (k)

              	
                priority:
                  the Charge ceases for any reason to be a first ranking charge or
                  an
                  obligation of the Chargor ranks ahead of or equally with the Secured
                  Money, other than an obligation which on a winding-up, liquidation,
                  dissolution or similar process in respect of the Chargor must be
                  preferred
                  by operation of law or to the extent provided in this Deed or any
                  priority
                  arrangement to which the Chargee agrees in writing in respect of
                  any
                  Permitted Security Interest; or

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (l)

              	
                damage:
                  all or a substantial part of the Secured Property is destroyed
                  or
                  substantially damaged.

              

      

       

      
        	 	
                (m)

              	
                representations:
                  a
                  representation or warranty made or deemed to be made by the Chargor
                  or a
                  Security Provider in, or in connection with, a Transaction Document
                  is
                  untrue or misleading (by omission or in any other way) when made
                  or
                  repeated;

              

      

       

      
        	 	
                (n)

              	
                Authorisations:
                  an
                  Authorisation described in sub-clause 6.1(k) is not granted or
                  ceases to
                  be in full force and effect for any reason or is varied in a manner
                  which
                  may have a Material Adverse Effect on the Chargor or a Security
                  Provider
                  or the ability of the Chargee to exercise or enforce its rights
                  under any
                  Transaction Document;

              

      

       

      
        	 	
                (o)

              	
                cross
                  default:

              

      

       

      
        	 	
                (i)

              	
                any
                  Indebtedness of the Chargor or a Security Provider in an amount
                  exceeding
                  $250,000 in total becomes due and payable or capable of being
                  declared due and payable before it would otherwise have been due
                  and
                  payable; 

              

      

       

      
        	 	
                (ii)

              	
                there
                  occurs a liquidation of obligations under, or an early termination
                  of, any
                  agreement or obligation relating to Indebtedness to which the Chargor
                  or a
                  Security Provider is a party by the other party to the relevant
                  agreement
                  or by the party owed the obligation or that party becomes entitled
                  to take
                  that action;

              

      

       

      
        	 	
                (iii)

              	
                the
                  Chargor or a Security Provider fails to pay any Indebtedness when
                  due or
                  within any applicable grace period;
                  or

              

      

       

      
        	 	
                (iv)

              	
                a
                  Security Interest created by the Chargor or a Security Provider
                  is
                  enforced or becomes capable of being enforced or the holder of
                  a Security
                  Interest takes possession or control of any of the assets, revenues
                  or
                  business of the Chargor or a Security
                  Provider;

              

      

       

      For
        the
        purpose of this sub-clause, if a person is required to provide cash cover
        for
        Indebtedness as a result of any actual, likely or threatened default, or
        an
        event of default or termination, cancellation, special prepayment or similar
        event, whatever called, that Indebtedness will be taken to be due and
        payable;

       

      
        	 	
                (p)

              	
                change
                  in control:
                  in
                  the opinion of the Chargee, having regard to any matter which the
                  Chargee
                  believes relates to control of a corporation (including legal or
                  beneficial ownership of shares, voting rights, rights to receive
                  income or
                  capital, rights to appoint directors and the capacity to determine
                  the
                  outcome of decisions about the corporation's financial and operating
                  policies) there occurs a material change in the control of the
                  Chargor or
                  a Security Provider;

              

      

       

      
        	 	
                (q)

              	
                Insolvency
                  Event:
                  an
                  Insolvency Event occurs in respect of the Chargor or a Security
                  Provider;

              

      

       

      
        	 	
                (r)

              	
                investigations:
                  an
                  investigation of the affairs of the Chargor or a Security Provider
                  is
                  commenced under any law relating to
                  companies;

              

      

       

      
        	 	
                (s)

              	
                execution:
                  distress, attachment, execution or other court process or any judgment
                  in
                  an amount exceeding $250,000 is issued, levied or enforced on or
                  against
                  the Chargor or a Security Provider or any assets, revenues or business
                  of
                  the Chargor or a Security Provider;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (t)

              	
                disposals:
                  the Chargor or a Security Provider:

              

      

       

      
        	 	
                (i)

              	
                substantially
                  changes the nature or scope of its
                  business;

              

      

       

      
        	 	
                (ii)

              	
                disposes
                  of all or a substantial part of its business or assets;
                  or

              

      

       

      
        	 	
                (iii)

              	
                proposes
                  to do any of the things in paragraphs (i) or (ii) this
                  sub-clause;

              

      

       

      
        	 	
                (u)

              	
                expropriation:
                  a
                  Government Agency expropriates all or a substantial part of the
                  assets or
                  business of the Chargor or a Security Provider or proposes to do
                  so;

              

      

       

      
        	 	
                (v)

              	
                reduction
                  of capital and buy backs:
                  the Chargor or a Security Provider reduces or takes steps to reduce
                  its
                  capital as contemplated by Division 1 or Division  3 of Part 2J.1 of
                  the Corporations Act or in any other way, limits or restricts calls
                  over
                  its issued but uncalled capital including by passing a resolution
                  under
                  section 254N of the Corporations Act or
                  buys shares in itself as contemplated by Division 2 of Part 2J.1
                  of the
                  Corporations Act, or
                  proposes to do any of those things;

              

      

       

      
        	 	
                (w)

              	
                acquisition
                  of own shares:
                  the Chargor or a Security Provider contravenes section 259A, section
                  259B or section 259D of the Corporations Act, or issues or transfers
                  shares or units of shares if that issue or transfer is void under
                  section 259C of the Corporations Act, or proposes to do any of those
                  things; 

              

      

       

      
        	 	
                (x)

              	
                financial
                  assistance:
                  the Chargor or a Security Provider contravenes section 260A of the
                  Corporations Act or does an act or thing under section 260B of
                  the
                  Corporations Act other than for the purpose of approving any Security,
                  or
                  proposes to do any of those things;

              

      

       

      
        	 	
                (y)

              	
                vitiation
                  of documents:

              

      

       

      
        	 	
                (i)

              	
                a
                  Transaction Document or a provision of a Transaction Document ceases
                  for
                  any reason to be of full force and effect or becomes void, voidable
                  or
                  unenforceable;

              

      

       

      
        	 	
                (ii)

              	
                a
                  law suspends, varies, terminates or excuses performance by the
                  Chargor or
                  a Security Provider of any of its obligations under a Transaction
                  Document
                  or purports to do so;

              

      

       

      
        	 	
                (iii)

              	
                it
                  becomes impossible or unlawful for the Chargor or a Security Provider
                  to
                  perform an obligation under a Transaction Document or for the Chargee
                  to
                  exercise all or any of its rights, powers and remedies under a
                  Transaction
                  Document; 

              

      

       

      
        	 	
                (iv)

              	
                any
                  undertaking of the Chargor or a Security Provider under a Transaction
                  Document is not enforceable in accordance with its terms and the
                  Chargor
                  or the Security Provider fails to do, or fails to refrain from
                  doing, the
                  act which it purported to undertake to do or not to do, as the
                  case
                  requires; or

              

      

       

      
        	 	
                (v)

              	
                the
                  Chargor or a Security Provider alleges that a Transaction Document
                  has
                  been affected as described in paragraphs (i) to (iv) inclusive
                  of this
                  sub-clause;

              

      

       

      
        	 	
                (z)

              	
                material
                  adverse change:
                  an
                  event or circumstance occurs which does or may have a Material
                  Adverse
                  Effect on the Chargor or a Security
                  Provider;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (aa)

              	
                undertakings:
                  an
                  undertaking given to the Chargee or an agent or adviser of the
                  Chargee by
                  or on behalf of the Chargor, a Security Provider or an agent or
                  adviser of
                  any of them is not honoured strictly in accordance with its terms;
                  

              

      

       

      
        	 	
                (bb)

              	
                Environmental
                  event:
                  under an Environmental Law:

              

      

       

      
        	 	
                (i)

              	
                a
                  Government Agency takes action against the Chargor or a Security
                  Provider;

              

      

       

      
        	 	
                (ii)

              	
                there
                  is a Claim made against or suffered by the Chargor or a Security
                  Provider
                  or the Chargor or a Security Provider incurs an Environmental
                  Liability;

              

      

       

      
        	 	
                (iii)

              	
                the
                  Chargor or a Security Provider is obliged to make expenditure,
                  alter or
                  cease the mode of conduct of any part of its
                  business; or

              

      

       

      
        	 	
                (iv)

              	
                an
                  Authorisation is not granted or ceases to be in full force and
                  effect for
                  any reason or is varied in a
                  manner;

              

      

       

      which
        does or may have a Material Adverse Effect on the Chargor or a Security
        Provider; 

       

      
        	 	
                (cc)

              	
                other
                  event of default:
                  an
                  event of default (however described in the relevant Transaction
                  Document)
                  occurs under any other Transaction Document;
                  or

              

      

       

      
        	 	
                (dd)

              	
                Group
                  event:
                  any event described in sub-clauses 6.1(a) to (cc) occurs in relation
                  to any member of the Group.

              

      

       

      
        	
                6.2

              	
                If
                  an Event of Default occurs the Chargee may by notice to the
                  Chargor:

              

      

       

      
        	 	
                (a)

              	
                declare
                  the Secured Money to be either:

              

      

       

      
        	 	
                (i)

              	
                payable
                  on demand; or

              

      

       

      
        	 	
                (ii)

              	
                immediately
                  due and payable without further demand, notice or other legal formality
                  of
                  any kind; or

              

      

       

      
        	 	
                (b)

              	
                declare
                  the Loan cancelled;

              

      

       

      or
        make
        both of those declarations.

       

      
        	
                6.3

              	
                A
                  notice given under clause 6.2 is effective on
                  receipt.

              

      

       

      
        	
                6.4

              	
                If
                  the Chargee gives a notice under sub-clause 6.2(a)(ii), the Chargor
                  must
                  immediately pay to the Chargee the amount specified in the notice
                  in
                  full.

              

      

       

      Money
        received after Event of Default

       

      
        	
                6.5

              	
                This
                  Deed may be enforced:

              

      

       

      
        	 	
                (a)

              	
                despite
                  the acceptance of any part of the money payable under this Deed
                  after any
                  Event of Default; and

              

      

       

      
        	 	
                (b)

              	
                despite
                  any previous or other Event of
                  Default.

              

      

       

      
        	
                6.6

              	
                The
                  Chargee may do or cause to be done all things, including the payment
                  of
                  any money, necessary to remedy any Event of Default but is under
                  no
                  obligation to do so. Any money paid by the Chargee for that purpose
                  forms
                  part of the Secured Money.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          

        

      

      
        	
                7

              	
                Interest
                  on overdue amounts

              

      

       

      Default
        interest

       

      
        	
                7.1

              	
                Subject
                  to clause 7.3, the Chargor must pay interest to the Chargee on
                  demand on
                  any amount due and payable by the Chargor under a Transaction Document
                  but
                  unpaid (including interest payable under this
                  clause).

              

      

       

      
        	
                7.2

              	
                Interest
                  under clause 7.1:

              

      

       

      
        	 	
                (a)

              	
                accrues
                  on each unpaid amount from and including the due date for payment
                  to the
                  date of actual payment at the rate determined by the Chargee to
                  be the sum
                  of 3% per annum and the higher of:

              

      

       

      
        	 	
                (i)

              	
                the
                  cost to the Chargee of funding the unpaid amount;
                  and

              

      

       

      
        	 	
                (ii)

              	
                the
                  rate, if any, applicable to the unpaid amount immediately before
                  the due
                  date;

              

      

       

      calculated
        with reference to successive periods of a length selected by the Chargee
        or, if
        no selection is made, of 1 month, starting on the due date for
        payment;

       

      
        	 	
                (b)

              	
                accrues
                  from day to day; 

              

      

       

      
        	 	
                (c)

              	
                is
                  calculated on the basis of the actual number of days elapsed (including
                  the first day but excluding the last) and a 365 day year;
                  and

              

      

       

      
        	 	
                (d)

              	
                may
                  be compounded by the Chargee at intervals selected by the Chargee
                  or, if
                  no selection is made, at 1 month
                  intervals.

              

      

       

      
        	
                7.3

              	
                The
                  Chargor has no obligation to pay interest under clause 7.1 on any
                  unpaid
                  amount if the Chargor has another obligation to pay default interest
                  on
                  the same unpaid amount under another Transaction Document and the
                  Chargor
                  satisfies that other obligation.

              

      

       

      Additional
        interest

       

      
        	
                7.4

              	
                If
                  a liability under a Transaction Document becomes merged in a judgment,
                  the
                  Chargor must, as an independent obligation, pay interest on the
                  amount of
                  that liability to the Chargee. Interest on the amount of that liability
                  will accrue from the date the amount becomes due until the date
                  the amount
                  is paid, both before and after judgment, at the rate which is the
                  higher
                  of:

              

      

       

      
        	 	
                (a)

              	
                the
                  rate payable under the judgment;
                  and

              

      

       

      
        	 	
                (b)

              	
                the
                  rate referred to in clause 7.2.

              

      

       

      Interest
        on assigned debts

       

      
        	
                7.5

              	
                Unless
                  the Chargor agrees, the Chargor has no obligation under clause
                  7.1 to pay
                  interest in relation to a debt assigned to the Chargee which forms
                  part of
                  the Secured Money, but remains bound by any other obligation to
                  pay
                  interest on that debt.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          

        

      

      
        	
                8

              	
                Powers
                  of Chargee on default

              

      

       

      Powers
        of Chargee

       

      
        	
                8.1

              	
                If
                  an Event of Default occurs, the Chargee has the power to do all
                  acts and
                  things and exercise all rights, powers and remedies that the Chargor
                  could
                  do or exercise in relation to the Secured Property, including the
                  power
                  to:

              

      

       

      
        	 	
                (a)

              	
                take
                  possession:
                  enter, take possession and assume control of the Secured Property
                  and
                  collect and get in and give receipts for the Secured Property;
                  

              

      

       

      
        	 	
                (b)

              	
                receive
                  rents:
                  receive rents and profits of the Secured Property;
                  

              

      

       

      
        	 	
                (c)

              	
                manage:
                  manage the Secured Property; 

              

      

       

      
        	 	
                (d)

              	
                carry
                  on business:
                  carry on any business of the Chargor forming part of the Secured
                  Property,
                  or relating to it; 

              

      

       

      
        	 	
                (e)

              	
                maintain
                  or improve:
                  do
                  anything to maintain, protect or improve the Secured Property;
                  

              

      

       

      
        	 	
                (f)

              	
                make
                  calls:
                  make calls on capital and premiums of the Chargor and enforce payment
                  of
                  calls; 

              

      

       

      
        	 	
                (g)

              	
                sell:
                  sell or agree to sell the Secured Property on terms that the Chargee
                  thinks fit and:

              

      

       

      
        	 	
                (i)

              	
                whether
                  or not the Chargee has taken
                  possession;

              

      

       

      
        	 	
                (ii)

              	
                by
                  public auction, private treaty or by tender;

              

      

       

      
        	 	
                (iii)

              	
                for
                  cash or on deferred purchase terms or a combination of those and
                  whether
                  or not deferred purchase terms provide for the charging of interest
                  or the
                  giving of security; 

              

      

       

      
        	 	
                (iv)

              	
                in
                  one lot or in parcels; 

              

      

       

      
        	 	
                (v)

              	
                whether
                  or not other property is sold by the Chargee or another person;
                  and

              

      

       

      
        	 	
                (vi)

              	
                whether
                  with or without special provisions including provisions relating
                  to title
                  and payment of the purchase money; 

              

      

       

      
        	 	
                (h)

              	
                lease:
                  lease or license any part of the Secured Property, and renew, terminate,
                  surrender or accept the surrender of leases or licences, on terms
                  that the
                  Chargee thinks fit; 

              

      

       

      
        	 	
                (i)

              	
                grant
                  options:
                  grant to any person an option to purchase, lease or licence any
                  Secured
                  Property on terms that the Chargee thinks fit;

              

      

       

      
        	 	
                (j)

              	
                Restrictions:
                  grant, release or vary Restrictions;

              

      

       

      
        	 	
                (k)

              	
                fixtures:
                  add or sever fixtures and sell or agree to sell fixtures separately
                  from
                  any real property; 

              

      

       

      
        	 	
                (l)

              	
                make
                  agreements or compromises:
                  make any agreement or compromise which the Chargee thinks
                  fit;

              

      

       

      
        	 	
                (m)

              	
                transfer
                  property:
                  surrender or transfer the Secured Property to any Government Agency
                  (whether or not for compensation); 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (n)

              	
                exchange
                  property:
                  exchange any part of the Secured Property for any other property,
                  whether
                  or not of equal value; 

              

      

       

      
        	 	
                (o)

              	
                employ:
                  employ or engage any person on terms that the Chargee thinks fit
                  for the
                  purpose of exercising any of the Chargee's rights, powers or remedies
                  under this Deed;

              

      

       

      
        	 	
                (p)

              	
                delegate:
                  delegate to any person for any time as the Chargee approves any
                  or all of
                  the powers of the Chargee on terms that the Chargee thinks fit;
                  

              

      

       

      
        	 	
                (q)

              	
                give
                  receipts:
                  give effective receipts for all money and other assets that come
                  into the
                  hands of the Chargee; 

              

      

       

      
        	 	
                (r)

              	
                perform
                  and enforce:
                  carry out and enforce, or refrain from carrying out or enforcing,
                  agreements entered into or held by the Chargor in relation to the
                  Secured
                  Property or entered into in exercise of the rights, powers or remedies
                  of
                  the Chargee under this Deed;

              

      

       

      
        	 	
                (s)

              	
                insure:
                  insure the Secured Property;

              

      

       

      
        	 	
                (t)

              	
                proceedings:
                  institute, conduct, defend, discontinue, settle, arrange or compromise any
                  proceedings, including proceedings relating to insurance of the
                  Secured
                  Property; 

              

      

       

      
        	 	
                (u)

              	
                borrow:

              

      

       

      
        	 	
                (i)

              	
                advance
                  money for the account of the Chargor;
                  or

              

      

       

      
        	 	
                (ii)

              	
                raise
                  or borrow any money in its name or in the name of or on behalf
                  of the
                  Chargor, from any person approved by the Chargee;
                  and

              

      

       

      
        	 	
                (iii)

              	
                secure
                  money advanced under sub-clause 8.1(u)(i) or raised or borrowed
                  under
                  sub-clause 8.1(u)(ii) by a Security Interest over any part of the
                  Secured
                  Property whether ranking in priority to, equally with or after
                  the Charge
                  or any other Security;

              

      

       

      
        	 	
                (v)

              	
                execute
                  documents:
                  execute and deliver documents on behalf of the Chargor under seal
                  or under
                  hand;

              

      

       

      
        	 	
                (w)

              	
                operate
                  bank accounts:
                  operate any bank account forming part of the Secured Property;
                  and

              

      

       

      
        	 	
                (x)

              	
                other
                  acts:
                  do
                  or cause to be done any other act or thing which the Chargee considers
                  necessary or incidental to the exercise of any right, power or
                  remedy of
                  the Chargee.

              

      

       

      The
        powers of the Chargee under this clause are in addition to any rights, powers
        or
        remedies conferred on the Chargee by law.

       

      Exclusion
        of notice

       

      
        	
                8.2

              	
                The
                  Chargee and any Controller appointed by the Chargee may, to the
                  extent
                  that an applicable law permits, exercise a right, power or remedy
                  under a
                  Transaction Document without first giving any notice, or allowing
                  the
                  lapse of any period of time or fulfilling any other condition
                  precedent.

              

      

       

      
        	
                8.3

              	
                If
                  an applicable law provides that a right, power or remedy under
                  a
                  Transaction Document may only be exercised after a period of notice
                  is
                  given or a lapse of time occurs:

              

      

       

      
        	 	
                (a)

              	
                if
                  a period of notice or of time is fixed by that law, that period
                  of notice
                  must be given or lapse of that time must occur before exercise
                  of that
                  right, power or remedy; or

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                if
                  a period of notice or of time may be fixed by this Deed, one Business
                  Day
                  is fixed as the period during which:

              

      

       

      
        	 	
                (i)

              	
                default
                  must continue before a notice is given demanding repayment or satisfaction
                  of the Secured Money; or

              

      

       

      
        	 	
                (ii)

              	
                a
                  notice requiring payment or satisfaction of the Secured Money must
                  remain
                  unsatisfied;

              

      

       

      before
        exercise of that right, power or remedy. 

       

      Not
        mortgagee in possession

       

      
        	
                8.4

              	
                If
                  the Chargee, or a Controller appointed by the Chargee, takes possession
                  of
                  any Secured Property neither the Chargee or the Controller is liable
                  as a
                  mortgagee in possession.

              

      

       

      Give
        up possession

       

      
        	
                8.5

              	
                The
                  Chargee may give up possession of the Secured Property or any part
                  of it
                  at any time and may discontinue a
                  receivership.

              

      

       

      Exclusion
        of liability

       

      
        	
                8.6

              	
                The
                  Chargee is not liable for losses of any kind which occur as a result
                  of
                  the exercise, or attempted or purported exercise or non-exercise
                  of a
                  right, power or remedy of the Chargee or a Controller appointed
                  by the
                  Chargee, including as a result of the negligence or default of
                  any
                  person.

              

      

       

      Protection
        of third parties

       

      
        	
                8.7

              	
                A
                  person dealing with the Chargee or a Controller appointed by the
                  Chargee
                  in connection with the exercise of any of the Chargee's or the
                  Controller's rights, powers or remedies is not bound to enquire
                  into any
                  matter in connection with the exercise of those rights, powers
                  or
                  remedies, including: 

              

      

       

      
        	 	
                (a)

              	
                whether
                  an Event of Default has occurred; 

              

      

       

      
        	 	
                (b)

              	
                whether
                  the Secured Money is due and
                  payable;

              

      

       

      
        	 	
                (c)

              	
                whether
                  the right, power or remedy has been properly
                  exercised;

              

      

       

      
        	 	
                (d)

              	
                whether
                  the appointment of a Controller has been duly made;
                  or

              

      

       

      
        	 	
                (e)

              	
                as
                  to the propriety or regularity of any
                  dealing.

              

      

       

      
        	
                8.8

              	
                A
                  dealing referred to in clause 8.7:

              

      

       

      
        	 	
                (a)

              	
                is
                  valid and effective despite any irregularity or impropriety referred
                  to in
                  clause 8.7; and

              

      

       

      
        	 	
                (b)

              	
                is
                  not affected by express or constructive notice on the part of any
                  person
                  dealing with the Chargee or a Controller appointed by the Chargee
                  of any
                  matter referred to in clause 8.7.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          

        

      

      
        	
                9

              	
                Appointment
                  of Receiver

              

      

       

      Appointment

       

      
        	
                9.1

              	
                If
                  an Event of Default occurs the Chargee
                  may:

              

      

       

      
        	 	
                (a)

              	
                appoint
                  in writing: 

              

      

       

      
        	 	
                (i)

              	
                any
                  one or more persons to be a receiver or receiver and manager of
                  the
                  Secured Property or part of it; or 

              

      

       

      
        	 	
                (ii)

              	
                different
                  receivers or receivers and managers for different parts of the
                  Secured
                  Property, 

              

      

       

      on
        terms
        that the Chargee thinks fit and whether or not: 

       

      
        	 	
                (iii)

              	
                the
                  Chargee has taken possession of the Secured Property;
                  or

              

      

       

      
        	 	
                (iv)

              	
                an
                  order has been made or a resolution passed to wind-up the Chargor;
                  

              

      

       

      
        	 	
                (b)

              	
                remove
                  a Receiver and, if a Receiver is removed, retires or dies, appoint
                  a
                  replacement; 

              

      

       

      
        	 	
                (c)

              	
                fix
                  the remuneration of the Receiver at an amount or rate of commission
                  agreed
                  between the Chargee and the Receiver or, if no amount or rate is
                  agreed,
                  the amount or rate determined by the Chargee;
                  and

              

      

       

      
        	 	
                (d)

              	
                if
                  two or more persons are appointed as a Receiver, appoint them jointly
                  or
                  severally or jointly and severally.

              

      

       

      Agent
        of Chargor

       

      
        	
                9.2

              	
                A
                  Receiver is the agent of the Chargor unless and until:
                  

              

      

       

      
        	 	
                (a)

              	
                the
                  Chargee, by notice in writing to the Chargor and the Receiver,
                  requires
                  that the Receiver act as agent of the Chargee:
                  or

              

      

       

      
        	 	
                (b)

              	
                an
                  order is made or a resolution is passed for the winding-up of the
                  Chargor,
                  except to the extent that approval is given under section 420C(1) of
                  the Corporations
                  Act.

              

      

       

      
        	
                9.3

              	
                If
                  for any reason a Receiver ceases to be the agent of the Chargor,
                  the
                  Receiver immediately becomes the agent of the
                  Chargee.

              

      

       

      
        	
                9.4

              	
                While
                  the Receiver is the agent of the
                  Chargor:

              

      

       

      
        	 	
                (a)

              	
                the
                  Chargor alone is responsible for the acts and defaults of the Receiver;
                  and

              

      

       

      
        	 	
                (b)

              	
                in
                  exercising a right, remedy or power of the Chargee, the Receiver
                  has the
                  authority of both the Chargor and the Chargee.

              

      

       

      Powers
        of Receiver

       

      
        	
                9.5

              	
                A
                  Receiver may do any act, matter or thing and exercise any right,
                  power or
                  remedy that may be done or exercised by the Chargee in relation
                  to the
                  Secured Property.

              

      

       

      
        	
                9.6

              	
                The
                  power conferred on a Receiver under clause 9.5 is:
                  

              

      

       

      
        	 	
                (a)

              	
                in
                  addition to any right, power or remedy conferred on the Receiver
                  by law;
                  and 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                subject
                  to any specific limitations placed on a Receiver by the terms of
                  the
                  appointment of that Receiver.

              

      

       

      
        
          

        

      

      
        	
                10

              	
                Receipt
                  and application of money

              

      

       

      Order
        of application

       

      
        	
                10.1

              	
                The
                  Chargee or a Controller appointed by the Chargee may appropriate
                  and apply
                  money which it receives or recovers under the Charge toward any
                  part of
                  the Secured Money and in any order it determines in its absolute
                  discretion.

              

      

       

      
        	
                10.2

              	
                If
                  no determination is made under clause 10.1, any money received
                  or
                  recovered under the Charge must, subject to clause 10.4 and to
                  the extent
                  permitted by law, be applied in the following
                  order:

              

      

       

      
        	 	
                (a)

              	
                first,
                  in payment of all amounts which, to the extent required by law,
                  have
                  priority over the payments specified in the remaining paragraphs
                  of this
                  clause; 

              

      

       

      
        	 	
                (b)

              	
                secondly,
                  in payment of all costs, charges, expenses or other money incurred
                  or
                  payable by the Chargee, or a Controller appointed by the Chargee,
                  in or in
                  connection with the exercise or attempted or purported exercise
                  of a
                  right, power or remedy under a Transaction Document or the enforcement
                  of
                  the Charge; 

              

      

       

      
        	 	
                (c)

              	
                thirdly,
                  in payment of the Controller's remuneration;

              

      

       

      
        	 	
                (d)

              	
                fourthly,
                  in payment or satisfaction of any Security Interest of which the
                  Chargee
                  has notice having priority over the Charge, in order of, and to
                  the extent
                  of, its priority; 

              

      

       

      
        	 	
                (e)

              	
                fifthly,
                  in payment of the Secured Money and applied against interest, principal
                  or
                  any other amount the Chargee or Controller thinks fit;
                  

              

      

       

      
        	 	
                (f)

              	
                sixthly,
                  to the extent required by law, in payment of other Security Interests
                  in
                  respect of the Secured Property of which the Chargee or Controller
                  has
                  notice and which are due and payable in accordance with their terms,
                  in
                  the order of their priority; and

              

      

       

      
        	 	
                (g)

              	
                seventhly,
                  in payment of any surplus to the Chargor in accordance with
                  clause 10.7.

              

      

       

      Credit
        actual receipts

       

      
        	
                10.3

              	
                In
                  applying any money toward satisfaction of the Secured Money, the
                  Chargee
                  will credit the Chargor only with that money actually received
                  by the
                  Chargee in Cleared Funds, and that credit will date from the time
                  of
                  actual receipt.

              

      

       

      Amounts
        contingently due

       

      
        	
                10.4

              	
                If
                  money available for distribution to the Chargee relates to a part
                  of the
                  Secured Money which is contingently due to the Chargee: 

              

      

       

      
        	 	
                (a)

              	
                that
                  money may be placed in a short-term interest bearing deposit account
                  with
                  any person selected by the Chargee (including the Chargee or a
                  Related
                  Body Corporate of the Chargee) on terms determined by the Chargee
                  until
                  that part of the Secured Money becomes actually due and payable
                  or
                  otherwise ceases to be contingently due;
                  and

              

      

       

      
        	 	
                (b)

              	
                at
                  that time the amount actually owing may be paid to the Chargee
                  and the
                  balance distributed in accordance with clauses 10.1 and 10.2.
                  

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Suspense
        account

       

      
        	
                10.5

              	
                The
                  Chargee may retain and credit to a suspense
                  account:

              

      

       

      
        	 	
                (a)

              	
                any
                  money paid by the Chargor under this
                  Deed;

              

      

       

      
        	 	
                (b)

              	
                any
                  distribution, dividend or payment received in respect of the Secured
                  Money
                  after an Insolvency Event occurs in respect of any person;
                  and

              

      

       

      
        	 	
                (c)

              	
                any
                  money paid by any other person in respect of the Secured
                  Money.

              

      

       

      
        	
                10.6

              	
                The
                  amounts credited to the suspense account referred to in clause
                  10.5 may be
                  retained by the Chargee in that account for as long as the Chargee
                  determines is appropriate. The Chargee may apply those amounts
                  in or
                  towards satisfaction of the Secured Money at any time, but is not
                  under
                  any obligation to do so.

              

      

       

      Surplus
        money

       

      
        	
                10.7

              	
                If
                  at any time after satisfaction of the Secured Money the Chargee
                  holds
                  surplus money payable to the Chargor, that
                  money:

              

      

       

      
        	 	
                (a)

              	
                does
                  not carry interest; and 

              

      

       

      
        	 	
                (b)

              	
                may
                  be placed to the credit of an account in the name of the Chargor
                  with a
                  Bank.

              

      

       

      
        	
                10.8

              	
                The
                  Chargee has no further liability in respect of money dealt with
                  in
                  accordance with clause 10.7.

              

      

       

      Receipts
        of the Chargee

       

      
        	
                10.9

              	
                The
                  receipt of an Authorised Officer of the Chargee or a Controller
                  appointed
                  by the Chargee for money payable to the Chargee or another asset
                  received
                  by or for the account of the Chargee under a Transaction Document
                  relieves
                  the person making the payment or delivery from all liability to
                  enquire as
                  to:

              

      

       

      
        	 	
                (a)

              	
                the
                  application of that money or other
                  asset;

              

      

       

      
        	 	
                (b)

              	
                whether
                  the Secured Money is due or payable;
                  or

              

      

       

      
        	 	
                (c)

              	
                the
                  propriety or regularity of the appointment of a Controller appointed
                  by
                  the Chargee.

              

      

       

      
        
          

        

      

      
        	
                11

              	
                Payments

              

      

       

      Payments
        by the Chargor

       

      
        	
                11.1

              	
                All
                  payments by the Chargor to the Chargee under a Transaction Document
                  must
                  be made:

              

      

       

      
        	 	
                (a)

              	
                not
                  later than 11:00 am on the due date for
                  payment;

              

      

       

      
        	 	
                (b)

              	
                in
                  Cleared Funds in Dollars; and

              

      

       

      
        	 	
                (c)

              	
                to
                  the account specified by the
                  Chargee;

              

      

       

      or
        in any
        other manner that the Chargee notifies to the Chargor.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Business
        Days

       

      
        	
                11.2

              	
                If
                  an amount would otherwise be due for payment on a day that is not
                  a
                  Business Day, that amount is due on the next Business Day or, if
                  that
                  Business Day is in another calendar month, on the preceding Business
                  Day.

              

      

       

      
        	
                11.3

              	
                If
                  any act other than a payment referred to in clause 11.2 must (but
                  for this
                  clause) be done on a day that is not a Business Day, then it must
                  be done
                  on the next Business Day.

              

      

       

      Payable
        on demand

       

      
        	
                11.4

              	
                An
                  amount payable under a Transaction Document that is not payable
                  on a
                  specified date is payable on demand by the
                  Chargee.

              

      

       

      Payments
        in gross

       

      
        	
                11.5

              	
                Subject
                  to clauses 11.6 and 11.7, all money payable by the Chargor under
                  a
                  Transaction Document must
                  be paid unconditionally and in full
                  without:

              

      

       

      
        	 	
                (a)

              	
                set-off
                  or counterclaim of any kind; or

              

      

       

      
        	 	
                (b)

              	
                deduction
                  or withholding for Tax or any other reason, unless the deduction
                  or
                  withholding is required by applicable
                  law.

              

      

       

      Deductions
        and withholdings

       

      
        	
                11.6

              	
                If
                  the Chargor or any other person is required by law to make a deduction
                  or
                  withholding for Tax from a payment under a Transaction Document
                  or the
                  Chargee is required to make a payment for Tax on any payment received
                  or
                  receivable by it under a Transaction Document, the
                  Chargor:

              

      

       

      
        	 	
                (a)

              	
                indemnifies
                  the Chargee against any Claim in respect of the Tax;
                  and

              

      

       

      
        	 	
                (b)

              	
                must
                  immediately pay an additional amount to the Chargee so that, after
                  all
                  applicable deductions, withholdings or payments for Tax, the Chargee
                  actually receives for its own benefit a net amount equal to the
                  amount
                  which it would have received if no deductions, withholdings or
                  payments
                  had been required.

              

      

       

      
        	
                11.7

              	
                If
                  the Chargor is required by law to make a deduction or withholding
                  for Tax
                  from a payment to the Chargee under a Transaction Document, the
                  Chargor
                  must pay the full amount of the deduction or withholding to the
                  appropriate Government Agency in accordance with applicable law
                  and
                  deliver the original receipts to the
                  Chargee.

              

      

       

      Allocation
        of receipts

       

      
        	
                11.8

              	
                The
                  Chargee may allocate payments made by or for the account of the
                  Chargor
                  towards principal, interest or other money owing under a Transaction
                  Document as it considers
                  appropriate.

              

      

       

      
        
          

        

      

      
        	
                12

              	
                Unlawfulness
                  or increased costs

              

      

       

      Unlawfulness

       

      
        	
                12.1

              	
                If
                  the Chargee determines that it is or will be unlawful, or it is
                  or will be
                  contrary to any request or requirement of any central bank or any
                  other
                  Government Agency (whether or not having the force of law) for
                  the Chargee
                  to make, fund or maintain the Loan or to otherwise perform its
                  obligations
                  under a Transaction Document, the Chargee must notify the Chargor
                  of its
                  determination. On the giving of that notice to the Chargor the
                  Chargee's
                  obligation to make, fund or maintain the Loan or perform the relevant
                  obligation ceases and the Loan is
                  cancelled.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                12.2

              	
                The
                  Chargor must pay the Amount Owing to the Chargee in full on the
                  earlier
                  of:

              

      

       

      
        	 	
                (a)

              	
                the
                  next Interest Payment Date after receipt of the Chargee's notice;
                  or

              

      

       

      
        	 	
                (b)

              	
                the
                  date specified in the notice and certified by the Chargee as the
                  last day
                  on which payment is required or permitted in order to comply with
                  the
                  relevant law, request or requirement or prevent or remedy a breach
                  of the
                  relevant law.

              

      

       

      Increased
        costs

       

      
        	
                12.3

              	
                If
                  the Chargee determines that:

              

      

       

      
        	 	
                (a)

              	
                the
                  introduction of, implementation of or a change in any law, or any
                  official
                  directive, requirement or request of any central bank or any other
                  Government Agency (whether or not having the force of law but compliance
                  with which is in accordance with the practice of responsible banks
                  or
                  financial institutions in the relevant jurisdiction) including
                  any one of
                  them relating to:

              

      

       

      
        	 	
                (i)

              	
                capital
                  adequacy, reserve, liquidity or deposit requirements, the classification
                  or allocation of capital or prudential supervision;
                  or

              

      

       

      
        	 	
                (ii)

              	
                a
                  Tax on or affecting payments made or to be made under a Transaction
                  Document; or

              

      

       

      
        	 	
                (b)

              	
                any
                  change in the interpretation or application of any law, official
                  directive, requirement or request referred to in paragraph (a)(i)
                  by a
                  Government Agency;

              

      

       

      directly
        or indirectly:

       

      
        	 	
                (c)

              	
                increases
                  the cost to the Chargee of underwriting, making, funding or maintaining
                  the Loan or performing an obligation under a Transaction Document;
                  

              

      

       

      
        	 	
                (d)

              	
                reduces
                  the amount of any payment made or payable by or for the account
                  of the
                  Chargor or a Security Provider or received or receivable by the
                  Chargee
                  under a Transaction Document;

              

      

       

      
        	 	
                (e)

              	
                reduces
                  the effective return to the Chargee on capital which is or becomes
                  allocated by the Chargee to the Loan or the effective return on
                  overall
                  capital of the Chargee;

              

      

       

      
        	 	
                (f)

              	
                imposes
                  any requirement that the Chargee make any payment or forego any
                  interest
                  or other return on or calculated by reference
                  to:

              

      

       

      
        	 	
                (i)

              	
                any
                  sum received or receivable by it under any Transaction Document
                  in an
                  amount which the Chargee considers material;
                  or

              

      

       

      
        	 	
                (ii)

              	
                any
                  capital or other amount directly or indirectly allocated by the
                  Chargee to
                  making the Loan available in an amount which the Chargee considers
                  material; or

              

      

       

      
        	 	
                (g)

              	
                restricts
                  or prevents the Chargee from entering into any other transaction
                  with the
                  result that the Chargee incurs any cost or loss of interest or
                  other
                  return specified in paragraphs (iii), (iv), (v) or
                  (vi);

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      the
        Chargor must in each such case pay to the Chargee on demand the amounts
        certified by the Chargee as necessary to compensate it for that increased
        cost,
        reduction, payment or foregone interest or return or other cost or loss of
        interest or other return (each an increased
        cost).

       

      
        	
                12.4

              	
                Where
                  an increased cost arises from circumstances which relate not only
                  to the
                  Chargee's funding of the Loan, but also to other business, the
                  Chargee is
                  entitled to claim as compensation for the increased cost the amount
                  it
                  determines is fairly attributable to its funding of the Loan. The
                  Chargee
                  may use averaging and attribution methods commonly used by the
                  Chargee or
                  any other method it considers
                  appropriate.

              

      

       

      
        	
                12.5

              	
                In
                  providing a certificate under clause 12.3, the Chargee is not required
                  to
                  disclose any confidential information relating to the organisation
                  of its
                  business. 

              

      

       

      
        	
                12.6

              	
                It
                  will not be a defence that any increased cost could have been
                  avoided.

              

      

       

      Mitigation
        of illegality

       

      
        	
                12.7

              	
                If
                  requested by the Chargor, in any case where clause 12.1 applies,
                  the
                  Chargee will take such steps as may be reasonable and available
                  to it to
                  make the Loan available by some other means including by a transfer
                  of the
                  Chargee's rights and obligations to a Related Body Corporate. Failure
                  by
                  the Chargee to do so does not release the Chargor from its obligations
                  under clause 5.1 and the Chargor agrees that no right of action
                  arises as
                  a result.

              

      

       

      
        	
                12.8

              	
                Nothing
                  in clause 12.7 obliges the Chargee to incur any additional costs
                  (excluding immaterial administrative expenses) or to take any steps
                  which,
                  in the Chargee's opinion, could be detrimental to its or any of
                  its
                  Related Body Corporate's interests, whether by way of an economic,
                  legal
                  or regulatory disadvantage or in any other
                  way.

              

      

       

      
        	
                12.9

              	
                The
                  Chargor must reimburse the Chargee on demand for any costs incurred
                  in
                  taking any steps under clause 12.7.

              

      

       

      Mitigation
        of increased costs

       

      
        	
                12.10

              	
                If
                  requested by the Chargor, in any case where clause 12.3 applies,
                  the
                  Chargee will take such steps as may be reasonable and available
                  to it to
                  minimise the amount of any increased cost including by a transfer
                  of the
                  Chargee's rights and obligations to a Related Body Corporate. Failure
                  by
                  the Chargee to do so does not release the Chargor from its obligations
                  under clause 12.3 and the Chargor agrees that no right of action
                  arises as
                  a result.

              

      

       

      
        	
                12.11

              	
                Nothing
                  in clause 12.10 obliges the Chargee to incur any additional costs
                  (excluding immaterial administrative expenses) or to take any steps
                  which,
                  in the Chargee's opinion, could be detrimental to its or any of
                  its
                  Related Body Corporate's interests, whether by way of an economic,
                  legal
                  or regulatory disadvantage or in any other
                  way.

              

      

       

      
        	
                12.12

              	
                The
                  Chargor must reimburse the Chargee on demand for any costs incurred
                  in
                  taking any steps under clause
                  12.10.

              

      

       

      
        
          

        

      

      
        	
                13

              	
                Indemnities

              

      

       

      General
        indemnity

       

      
        	
                13.1

              	
                The
                  Chargor unconditionally and irrevocably indemnifies the Chargee
                  against
                  any Claim suffered or incurred or payable by the Chargee arising
                  directly
                  or indirectly as a result of:

              

      

       

      
        	 	
                (a)

              	
                an
                  Event of Default or the exercise or attempted exercise by the Chargee
                  of a
                  right or power arising from an Event of Default;
                  or

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                the
                  failure by the Chargor to draw down the Loan for any reason (including
                      failure to satisfy a condition precedent but excluding default
                  by the
                  Chargee); or

              

      

       

      
        	 	
                (c)

              	
                the
                  failure of the Chargor to make a prepayment in accordance with
                  a notice of
                  prepayment or a repayment of the Loan or any part of the Loan being
                  made
                  on any day other than the last day of an Interest Period for the
                  Loan and
                  in accordance with this Agreement;
                  or

              

      

       

      
        	 	
                (d)

              	
                the
                  use, operation, maintenance or repair of the Secured Property or
                  the
                  breach of an Environmental Law affecting the Secured
                  Property.

              

      

       

      
        	
                13.2

              	
                Without
                  limiting clause 13.1, the indemnity of the Chargor includes an
                  indemnity
                  against loss of profit or other loss, cost, penalty, expense or
                  Tax
                  incurred or payable by the Chargee
                  in:

              

      

       

      
        	 	
                (a)

              	
                liquidating
                  or redeploying funds acquired from third parties;
                  or

              

      

       

      
        	 	
                (b)

              	
                terminating,
                  reversing or varying arrangements to fund the Loan or any part
                  of it or
                  any interest rate or currency hedge, related trading position,
                  or other
                  derivatives arrangement put in place by the Chargee in respect
                  of the Loan
                  or any part of it.

              

      

       

      The
        amount of loss of profit or other loss may be determined by the Chargee by
        reference to a pool of funds and averaging techniques rather than by reference
        to a specific borrowing or a specific contract made in respect of the Loan
        or
        any part of it.

       

      
        	
                13.3

              	
                Without
                  limiting clause 13.1, the indemnity of the Chargor includes an
                  indemnity
                  for legal costs and other expenses (and Taxes on those amounts)
                  on a full
                  indemnity basis.

              

      

       

      Currency
        indemnity

       

      
        	
                13.4

              	
                If
                  an amount payable by the Chargor or a Security Provider under a
                  Transaction Document is received or recovered by the Chargee or
                  a
                  Controller in a currency other than Dollars (whether under a judgment,
                  in
                  the winding-up of the Chargor or a Security Provider or
                  otherwise):

              

      

       

      
        	 	
                (a)

              	
                the
                  obligations of the Chargor or the Security Provider are discharged
                  only to
                  the extent that the Chargee or Controller may purchase Dollars
                  with that
                  other currency in accordance with its usual banking procedures
                  on receipt
                  of that amount; and

              

      

       

      
        	 	
                (b)

              	
                the
                  Chargor indemnifies the Chargee or Controller in respect of, and
                  will
                  immediately pay to the Chargee or to the Controller, the amount
                  of any
                  shortfall between the amount in Dollars which may be purchased
                  under
                  sub-clause 13.4(a), after deducting any costs of exchange and any
                  other
                  related costs and Taxes, and the relevant sum payable under the
                  Transaction Documents.

              

      

       

      Survival
        of indemnities

       

      
        	
                13.5

              	
                The
                  indemnities in this Agreement are continuing obligations of the
                  Chargor,
                  separate and independent from the other obligations of the Chargor
                  and
                  survive the termination of this Agreement or any other Transaction
                  Document.

              

      

       

      
        	
                13.6

              	
                It
                  is not necessary for the Chargee to incur expense or make payment
                  before
                  enforcing a right of indemnity under this
                  Agreement.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
         

        
          

        

      

      
        	
                14

              	
                Assignment

              

      

       

      Assignment
        by the Chargor

       

      
        	
                14.1

              	
                The
                  Chargor must not assign or otherwise transfer, create any charge,
                  trust or
                  other interest in or otherwise deal with a Transaction Document
                  or a
                  right, remedy, power, duty or obligation under a Transaction Document
                  without the prior written consent of the
                  Chargee.

              

      

       

      Assignment
        by the Chargee

       

      
        	
                14.2

              	
                The
                  Chargee must not assign or otherwise transfer, create any charge,
                  trust or
                  other interest in or otherwise deal with a Transaction Document
                  or a
                  right, remedy, power, duty or obligation under a Transaction Document
                  without the prior written consent of the
                  Chargor.

              

      

       

      Disclosure

       

      
        	
                14.3

              	
                The
                  Chargee may disclose to a potential assignee, transferee, participant
                  or
                  sub-participant or any other person who is considering entering
                  into
                  contractual relations with it in connection with or in relation
                  to a
                  Transaction Document any information about the Chargor, a Security
                  Provider and the Group and the Transaction Documents as the Chargee
                  considers appropriate.

              

      

       

      
        
          

        

      

      
        	
                15

              	
                Set-off

              

      

       

      Set-off

       

      
        	
                15.1

              	
                The
                  Chargee may, without notice to the Chargor or any other person,
                  set-off
                  and apply the whole or any part of any credit balance on any account
                  of
                  the Chargor with the Chargee and any money owing by the Chargee
                  to the
                  Chargor towards satisfaction of any Secured Money irrespective
                  of:

              

      

       

      
        	 	
                (a)

              	
                whether
                  the account is subject to notice;

              

      

       

      
        	 	
                (b)

              	
                whether
                  the account is matured or the amount is due;
                  or

              

      

       

      
        	 	
                (c)

              	
                the
                  currency of the account or the amount
                  owing.

              

      

       

      Currency
        conversion

       

      
        	
                15.2

              	
                If
                  the currency of the Chargor’s account or the amount owing referred to in
                  clause 15.1 is not Dollars, the Chargee may for the purpose of
                  clause 15.1
                  effect currency exchanges in accordance with its usual banking
                  procedures
                  and apply the amount purchased, after deducting any costs of exchange
                  and
                  any other related costs and Taxes, in accordance with clause
                  15.1.

              

      

       

      Additional
        right

       

      
        	
                15.3

              	
                The
                  right of set-off contained in this clause 15 is in addition to
                  any general
                  or banker's lien, right of set-off, right to combine accounts or
                  other
                  right to which the Chargee is
                  entitled.

              

      

       

      
        
          

        

      

      
        	
                16

              	
                Notices

              

      

       

      
        	
                16.1

              	
                All
                  notices must be:

              

      

       

      
        	 	
                (a)

              	
                in
                  legible writing and in English;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                addressed
                  to the recipient at the address or facsimile number set out below
                  or to
                  any other address or facsimile number that a party may notify to
                  the
                  other:

              

      

       

      to
        the
        Chargor:

       

      
        	
                Address:

              	
                Level
                  1, 204-218 Botany Road, Alexandria NSW 2015

              
	
                Attention:

              	
                Jack
                  Vaisman/Richard Doyle

              
	
                Facsimile
                  no:

              	
                (02)
                  9640 5186

              

      

       

      to
        the
        Chargee:

       

      
        	
                Address:

              	
                530
                  Collins Street, Melbourne VIC 3001

              
	
                Attention:

              	
                David
                  McWilliams

              
	
                Facsimile
                  no:

              	
                (03)
                  9273 2667

              

      

       

      
        	
                Address:

              	
                Level
                  41, 2 Park Street, Sydney NSW 2000

              
	
                Attention:

              	
                Richard
                  Telfer

              
	
                Facsimile
                  no:

              	
                (02)
                  8267 8691

              

      

      

       

      
        	 	
                (c)

              	
                signed
                  by the party or, where the sender is a company, by an Authorised
                  Officer
                  or under the common seal of the sender;
                  and

              

      

       

      
        	 	
                (d)

              	
                sent
                  to the recipient by hand, prepaid post (airmail if to or from a
                  place
                  outside Australia) or facsimile.

              

      

       

      
        	
                16.2

              	
                Without
                  limiting any other means by which a party may be able to prove
                  that a
                  notice has been received by the other party, a notice will be considered
                  to have been received:

              

      

       

      
        	 	
                (a)

              	
                if
                  sent by hand, when left at the address of the
                  recipient;

              

      

       

      
        	 	
                (b)

              	
                if
                  sent by prepaid post, 3 days (if posted within Australia to an
                  address in
                  Australia) or 10 days (if posted from one country to another) after
                  the
                  date of posting; or

              

      

       

      
        	 	
                (c)

              	
                if
                  sent by facsimile, on receipt by the sender of an acknowledgment
                  or
                  transmission report generated by the sender's machine indicating
                  that the
                  whole facsimile was sent to the recipient's facsimile
                  number;

              

      

       

      but
        if a
        notice is served by hand, or is received by the recipient's facsimile, on
        a day
        that is not a Business Day, or after 5:00 pm (recipient's local time) on
        a
        Business Day, the notice will be considered to have been received by the
        recipient at 9:00 am (recipient's local time) on the next Business Day.

       

      
        
          

        

      

      
        	
                17

              	
                Indemnities

              

      

       

      
        	
                17.1

              	
                The
                  Chargor unconditionally and irrevocably indemnifies the Chargee
                  against
                  any Claim suffered or incurred or payable by the Chargee arising
                  directly
                  or indirectly as a result of:

              

      

       

      
        	 	
                (a)

              	
                an
                  Event of Default or the exercise or attempted exercise by the Chargee
                  of a
                  right or power arising from an Event of Default;
                  or

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                the
                  failure of the Chargor to make a payment or perform an obligation
                  in
                  accordance with a Transaction Document;
                  or

              

      

       

      
        	 	
                (c)

              	
                the
                  Secured Property or the use or occupation of the Secured Property
                  by any
                  person.

              

      

       

      
        	
                17.2

              	
                Without
                  limiting clause 17.1, the indemnity of the Chargor includes an
                  indemnity
                  for legal costs and other expenses (and Taxes on those amounts)
                  on a full
                  indemnity basis.

              

      

       

      
        	
                17.3

              	
                The
                  indemnities in this Deed are continuing obligations of the Chargor,
                  separate and independent from the other obligations of the Chargor
                  and
                  survive the termination of this Deed or any other Transaction
                  Document.

              

      

       

      
        	
                17.4

              	
                It
                  is not necessary for the Chargee to incur expense or make payment
                  before
                  enforcing a right of indemnity under this
                  Deed.

              

      

       

      
        
          

        

      

      
        	
                18

              	
                Preservation
                  of rights

              

      

       

      Interests
        in land

       

      
        	
                18.1

              	
                The
                  Chargor must, at its own expense, if requested by the Chargee,
                  execute and
                  deliver a mortgage or other Security Interest over any real property
                  and
                  any other property or rights:

              

      

       

      
        	 	
                (a)

              	
                which
                  forms part of the Secured Property and which is acquired by the
                  Chargor,
                  or into which any Secured Property is converted, after the date
                  of this
                  Deed; or

              

      

       

      
        	 	
                (b)

              	
                which
                  is acquired by the Chargor as a result of its ownership of the
                  Secured
                  Property; or

              

      

       

      
        	 	
                (c)

              	
                which
                  is acquired by the Chargor as a result of the expropriation, seizure,
                  confiscation, requisition, resumption or compulsory acquisition
                  of the
                  Secured Property, including any right to
                  compensation.

              

      

       

      
        	
                18.2

              	
                The
                  mortgage or other Security Interest referred to in clause 18.1
                  must:
                  

              

      

       

      
        	 	
                (a)

              	
                be
                  in favour of the Chargee;

              

      

       

      
        	 	
                (b)

              	
                if
                  applicable, be in registrable form;

              

      

       

      
        	 	
                (c)

              	
                secure
                  the Secured Money; and 

              

      

       

      
        	 	
                (d)

              	
                be
                  on terms acceptable to the Chargee, but no more onerous than this
                  Deed.
                  

              

      

       

      Attorney

       

      
        	
                18.3

              	
                The
                  Chargor irrevocably appoints the Chargee, a Controller appointed
                  by the
                  Chargee, and each of their respective Authorised Officers, severally
                  as
                  its attorney to do any of the following: 

              

      

       

      
        	 	
                (a)

              	
                perform
                  the obligations of the Chargor under the Transaction Documents;
                  

              

      

       

      
        	 	
                (b)

              	
                in
                  the name of the Chargor or the attorney, do everything the attorney
                  considers necessary or desirable to give full effect to a right,
                  remedy or
                  power of the Chargee or the Controller under a Transaction Document
                  (including signing and lodging proofs of debt and similar claims
                  in legal
                  proceedings); 

              

      

       

      
        	 	
                (c)

              	
                appoint
                  substitutes or delegate its powers (including this power of delegation)
                  to
                  any person for any period and revoke any substitution or delegation;
                  and

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (d)

              	
                after
                  an Event of Default has occurred, do everything that the Chargor
                  may
                  lawfully authorise an attorney to do in respect of the Secured
                  Property.

              

      

       

      
        	
                18.4

              	
                An
                  attorney of the Chargor may exercise its powers even if the exercise
                  of
                  the power constitutes a conflict of interest or
                  duty.

              

      

       

      
        	
                18.5

              	
                If
                  required by the Chargee, the Chargor must ratify anything an attorney
                  or
                  its substitute or delegate does in exercising its powers under
                  clause
                  18.3.

              

      

       

      Completion
        of blanks

       

      
        	
                18.6

              	
                The
                  Chargee and each Authorised Officer of the Chargee is authorised
                  to fill
                  in any blanks and otherwise complete this Deed and any other documents
                  executed by the Chargor and deposited with the Chargee in connection
                  with
                  this Deed.

              

      

       

      Priority
        of future advances

       

      
        	
                18.7

              	
                All
                  Secured Money which is advanced, paid, provided or otherwise arises
                  after
                  the receipt of notice by the Chargee of the creation of any other
                  Security
                  Interest is secured by this Deed in priority to any money secured
                  by that
                  other Security Interest, unless the Chargee specifically agrees
                  otherwise
                  in writing.

              

      

       

      
        	
                18.8

              	
                Clause
                  18.7 has effect despite:

              

      

       

      
        	 	
                (a)

              	
                any
                  rule of law to the contrary; and

              

      

       

      
        	 	
                (b)

              	
                the
                  Chargee having notice of the creation of another Security
                  Interest.

              

      

       

      Rights
        regarding prior Security Interests

       

      
        	
                18.9

              	
                The
                  Chargee may pay or discharge any money, obligation or liability
                  secured by
                  a Security Interest having priority over this Deed and take a transfer
                  of
                  that Security Interest for the benefit of the Chargee
                  and:

              

      

       

      
        	 	
                (a)

              	
                the
                  Chargor authorises, directs and consents to a person having the
                  benefit of
                  the prior Security Interest providing the Chargee with all information
                  it
                  requires in relation to the prior Security Interest, including
                  as to
                  amounts secured by the prior Security Interest, despite any term
                  to the
                  contrary effect in that prior Security Interest;
                  and

              

      

       

      
        	 	
                (b)

              	
                any
                  money paid by the Chargor to the Chargee after the date of transfer
                  is
                  available to be applied by the Chargee in its absolute discretion
                  to
                  either that part of the Secured Money comprising the money secured
                  by the
                  prior Security Interest or to any other Secured Money.
                  

              

      

       

      No
        marshalling

       

      
        	
                18.10

              	
                The
                  Chargee is not required before it enforces the Charge or any other
                  Security to:

              

      

       

      
        	 	
                (a)

              	
                give
                  notice of this Deed to any person;

              

      

       

      
        	 	
                (b)

              	
                enforce
                  payment of or appropriate any Secured Money or other money or assets
                  which
                  it at any time holds or is entitled to receive;

              

      

       

      
        	 	
                (c)

              	
                marshal,
                  enforce, realise or otherwise resort to any other Security; or
                  

              

      

       

      
        	 	
                (d)

              	
                commence
                  proceedings or enforce any right against the Chargor or any other
                  person;

              

      

       

      unless
        the Chargee thinks fit. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      No
        merger

       

      
        	
                18.11

              	
                No
                  Transaction Document merges, discharges, postpones or adversely
                  affects in
                  any other way the rights, remedies or powers of the Chargee under
                  any
                  other Transaction Document.

              

      

       

      
        	
                18.12

              	
                Nothing
                  in any Transaction Document merges, discharges, postpones or adversely
                  affects in any other way a Security or any of the rights, remedies
                  or
                  powers of the Chargee against any
                  person.

              

      

       

      
        	
                18.13

              	
                If
                  a judgment is made in favour of the Chargee against the Chargor
                  or a
                  Security Provider in respect of the Secured Money or any part of
                  it, the
                  Chargee holds the judgment collaterally with the Transaction Documents
                  as
                  security for payment of the Secured Money and no Transaction Document
                  merges in the judgment.

              

      

       

      Moratorium
        legislation

       

      
        	
                18.14

              	
                To
                  the extent permitted by law, a provision of a law is excluded if
                  it does
                  or may, directly or indirectly: 

              

      

       

      
        	 	
                (a)

              	
                lessen
                  or vary in any other way the Chargor’s obligations under a Transaction
                  Document; or 

              

      

       

      
        	 	
                (b)

              	
                delay,
                  curtail or prevent or adversely affect in any other way the exercise
                  by
                  the Chargee or a Controller appointed by the Chargee of any of
                  its rights,
                  remedies or powers under a Transaction
                  Document.

              

      

       

      Waiver
        and exercise of rights

       

      
        	
                18.15

              	
                A
                  waiver by the Chargee of a provision of or of a right under a Transaction
                  Document is binding on the Chargee only if it is given in writing
                  and is
                  signed by the Chargee or an Authorised Officer of the Chargee.
                  

              

      

       

      
        	
                18.16

              	
                A
                  waiver is effective only in the specific instance and for the specific
                  purpose for which it is given.

              

      

       

      
        	
                18.17

              	
                A
                  single or partial exercise of a right by the Chargee does not prevent
                  another exercise or attempted exercise of that right or the exercise
                  of
                  another right.

              

      

       

      
        	
                18.18

              	
                Failure
                  by the Chargee to exercise or delay in exercising a right does
                  not prevent
                  its exercise or operate as a
                  waiver.

              

      

       

      
        	
                18.19

              	
                The
                  Chargee is not liable for any loss, cost or expense of the Chargor
                  caused
                  or contributed to by the waiver, exercise, attempted exercise,
                  failure to
                  exercise or delay in the exercise of a
                  right.

              

      

       

      Rights
        cumulative

       

      
        	
                18.20

              	
                The
                  rights, remedies and powers under the Transaction Documents of
                  the
                  Chargee, or a Controller appointed by the Chargee, are cumulative
                  and do
                  not exclude any other rights, remedies or
                  powers.

              

      

       

      Further
        assurances

       

      
        	
                18.21

              	
                The
                  Chargor must, at its own expense, whenever requested by the Chargee,
                  promptly do or cause to be done, and cause each Security Provider
                  to do or
                  cause to be done, anything which the Chargee considers necessary
                  or
                  desirable to:

              

      

       

      
        	 	
                (a)

              	
                give
                  full effect to a Transaction Document;
                  or

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                more
                  fully secure the rights, remedies and powers of the Chargee under
                  a
                  Transaction Document or to enable the Chargee to exercise those
                  rights,
                  remedies and powers; or

              

      

       

      
        	 	
                (c)

              	
                perfect
                  or complete any transfer or assignment referred to in clause 18
                  and the
                  benefit of any Security in relation to any transfer or
                  assignment;

              

      

       

      including
        signing and delivering documents.

       

      Time
        of the essence

       

      
        	
                18.22

              	
                Time
                  is of the essence of the performance of each of the Chargor’s obligations
                  under each Transaction Document.

              

      

       

      
        
          

        

      

      
        	
                19

              	
                General
                  provisions

              

      

       

      Invalid
        or unenforceable provisions

       

      
        	
                19.1

              	
                If
                  a provision of this Deed is invalid or unenforceable in a
                  jurisdiction:

              

      

       

      
        	 	
                (a)

              	
                it
                  is to be read down or severed in that jurisdiction to the extent
                  of the
                  invalidity or unenforceability; and

              

      

       

      
        	 	
                (b)

              	
                that
                  fact does not affect the validity or enforceability of that provision
                  in
                  another jurisdiction or the remaining
                  provisions.

              

      

       

      
        	
                19.2

              	
                Without
                  limiting clause 19.1, if an Authorisation is required under any
                  law before
                  the creation of Security Interest over an item of the Secured Property
                  and
                  the absence of the Authorisation does or might render this Deed
                  invalid or
                  unenforceable in whole or in part unless and until the Authorisation
                  is
                  obtained:

              

      

       

      
        	 	
                (a)

              	
                the
                  Secured Property is considered not to include that item unless
                  and until
                  the Authorisation is obtained; and

              

      

       

      
        	 	
                (b)

              	
                immediately
                  on the Authorisation being obtained, the Secured Property includes
                  that
                  item and, if permitted by the relevant law, is deemed to have included
                  that item from the date of this
                  Deed.

              

      

       

      Amendment

       

      
        	
                19.3

              	
                This
                  Deed may be amended only by a document signed by all
                  parties.

              

      

       

      Counterparts

       

      
        	
                19.4

              	
                This
                  Deed may be signed in counterparts and all counterparts taken together
                  constitute one document.

              

      

       

      Successors
        and assigns

       

      
        	
                19.5

              	
                This
                  Deed is binding on, and has effect for the benefit of, the parties
                  and
                  their respective successors and permitted
                  assigns.

              

      

       

      Consents
        and approvals

       

      
        	
                19.6

              	
                The
                  Chargee may give its approval or consent conditionally or unconditionally
                  or withhold its approval or consent in its absolute discretion
                  unless a
                  Transaction Document expressly provides
                  otherwise.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                19.7

              	
                If,
                  under a Transaction Document, the Chargee must or may form an opinion
                  or
                  hold a considered view, that opinion may be formed or view held
                  in its
                  absolute discretion on its behalf by its board of directors or
                  an
                  Authorised Officer of the Chargee.

              

      

       

      
        	
                19.8

              	
                The
                  Chargee may give reasons in respect of a matter described in clause
                  19.2
                  or clause 19.3 but is not obliged to do
                  so.

              

      

       

      Chargee’s
        certificate

       

      
        	
                19.9

              	
                A
                  certificate signed by an Authorised Officer of the Chargee stating
                  an
                  amount due, owing or payable or a rate or any other matter for
                  the purpose
                  of a Transaction Document is, in the absence of manifest error,
                  conclusive
                  and binding on the Chargor.

              

      

       

      Certifications

       

      
        	
                19.10

              	
                Any
                  document or thing required to be certified by the Chargor or a
                  Security
                  Provider must be certified by an Authorised Officer of the Chargor
                  or the
                  Security Provider, as the case requires, or in any other manner
                  that the
                  Chargee approves.

              

      

       

      Amendment

       

      
        	
                19.11

              	
                This
                  Agreement may be amended only by a document signed by all
                  parties.

              

      

       

      Counterparts

       

      
        	
                19.12

              	
                This
                  Agreement may be signed in counterparts and all counterparts taken
                  together constitute one document.

              

      

       

      Successors
        and assigns

       

      
        	
                19.13

              	
                This
                  Agreement is binding on, and has effect for the benefit of, the
                  parties
                  and their respective successors and permitted
                  assigns.

              

      

       

      
        
          

        

      

      
        	
                20

              	
                Governing
                  law and jurisdiction

              

      

       

      
        	
                20.1

              	
                This
                  Deed is governed by the laws of New South
                  Wales.

              

      

       

      
        	
                20.2

              	
                The
                  Chargor irrevocably and
                  unconditionally:

              

      

       

      
        	 	
                (a)

              	
                submits
                  to the non-exclusive jurisdiction of the courts of New South Wales;
                  and

              

      

       

      
        	 	
                (b)

              	
                waives,
                  without limitation, any claim or objection based on absence of
                  jurisdiction or inconvenient forum.

              

      

       

      Service
        of process

       

      
        	
                20.3

              	
                The
                  Chargor agrees that a document required to be served in proceedings
                  about
                  a Transaction Document may be
                  served:

              

      

       

      
        	 	
                (a)

              	
                by
                  being delivered to or left at its address for service of notices
                  under
                  clause 16.1; or

              

      

       

      
        	 	
                (b)

              	
                in
                  any other way permitted by law.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Execution

       

      Executed
        as
        a
        deed.

       

      
        	
                Signed
                  sealed and delivered

              	 	 
	
                by
                  AMI
                  Australia Holdings Pty Limited

              	 	 
	
                In
                  accordance with section 127 of the Corporations Act

              	 	 
	 	 	 
	 	 	 
	 	 	 
	
                Signature
                  of director/secretary

              	 	
                Signature
                  of director

              
	 	 	 
	 	 	 
	 	 	 
	
                Name
                  of director/secretary (please print)

              	 	
                Name
                  of director (please print) 

              

      

      

       

      
        	
                Signed
                  sealed and delivered

              	 	 
	
                by
                  ANZ
                  Nominees Limited

              	 	 
	
                In
                  accordance with section 127 of the Corporations Act

              	 	 
	 	 	 
	 	 	 
	 	 	 
	
                Signature
                  of director/secretary

              	 	
                Signature
                  of director

              
	 	 	 
	 	 	 
	 	 	 
	
                Name
                  of director/secretary (please print)

              	 	
                Name
                  of director (please print) 

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Schedule
        1

       

      Security

       

      First
        Ranking Fixed and Floating Charge over AMI Australia Holdings Pty
        Limited

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]