LD 2245
pg. 205
Page 204 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 206 of 493
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LR 1087
Item 1

 
(a)__Without knowledge of the lien; or

 
(b)__Pursuant to a commitment entered into without knowledge
of the lien.

 
(3)__Subsections (1) and (2) do not apply to a security
interest held by a secured party that is a buyer of accounts,
chattel paper, payment intangibles or promissory notes or a
consignor.

 
(4)__Except as otherwise provided in subsection (5), a buyer
of goods other than a buyer in ordinary course of business takes
free of a security interest to the extent that it secures
advances made after the earlier of:

 
(a)__The time the secured party acquires knowledge of the
buyer's purchase; or

 
(b)__Forty-five days after the purchase.

 
(5)__Subsection (4) does not apply if the advance is made
pursuant to a commitment entered into without knowledge of the
buyer's purchase and before the expiration of the 45-day period.

 
(6)__Except as otherwise provided in subsection (7), a lessee
of goods, other than a lessee in ordinary course of business,
takes the leasehold interest free of a security interest to the
extent that it secures advances made after the earlier of:

 
(a)__The time the secured party acquires knowledge of
the lease; or

 
(b)__Forty-five days after the lease contract becomes
enforceable.

 
(7)__Subsection (6) does not apply if the advance is made
pursuant to a commitment entered into without knowledge of the
lease and before the expiration of the 45-day period.

 
Official Comment

 
1. Source. Former Sections 9-312(7), 9-301(4), 9-307(3),
2A307(4).

 
2. Scope of This Section. A security agreement may provide
that collateral secures future advances. See Section 9-204(c)
[Maine cite section 9-1204, subsection (3)]. This section
collects all of the special rules dealing with the priority of


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