3. Redemption of Remaining Collateral Following Partial Enforcement. Under Section 9-610 [Maine cite section 9-1610] a secured party may make successive dispositions of portions of its collateral. These dispositions would not affect the debtor's, another secured party's, or a lienholder's right to redeem the remaining collateral.

4. Effect of "Repledging." Section 9-207 [Maine cite section 9-1207] generally permits a secured party having possession or control of collateral to create a security interest in the collateral. As explained in the Comments to that section, the debtor's right (as opposed to its practical ability) to redeem collateral is not affected by, and does not affect, the priority of a security interest created by the debtor's secured party.

§9-1624.__Waiver

(1)__A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 9-1611 only by an agreement to that effect entered into and authenticated after default.

(2)__A debtor may waive the right to require disposition of collateral under section 9-1620, subsection (5) only by an agreement to that effect entered into and authenticated after default.

(3)__Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under section 9-1623 only by an agreement to that effect entered into and authenticated after default.

Official Comment

1. Source. Former Sections 9-504(3), 9-505, 9-506.

2. Waiver. This section is a limited exception to Section 9- 602 [Maine cite section 9-1602], which generally prohibits waiver by debtors and obligors. It makes no provision for waiver of the rule prohibiting a secured party from buying at its own private disposition. Transactions of this kind are equivalent to "strict foreclosures" and are governed by Sections 9-620, 9-621, and 9- 622 [Maine cite sections 9-1620, 9-1621 and 9-1622].

SUBPART 2