Example 6: In 1999, SP1 obtains a security interest in D's existing and after-acquired instruments and files a financing statement covering "instruments." In 2000, D grants a security interest in its existing and after-acquired accounts in favor of SP2, who files a financing statement covering "accounts." After this Article takes effect on July 1, 2001, one of D's account debtors gives D a negotiable note to evidence its obligation to pay an overdue account. Under the first-to-file-or-perfect rule in Section 9-322(a) [Maine cite section 9-1322, subsection (1)], SP1 would have priority in the instrument, which constitutes SP2's proceeds. SP1's filing in 1999 was earlier than SP2's in 2000. However, subsection (b) [Maine cite subsection (2)] provides that, for purposes of Section 9-322(a) [Maine cite section 9-1322, subsection (1)], SP1's priority dates from the time this Article takes effect (July 1, 2001). Under Section 9- 322(b) [Maine cite section 9-1322, subsection (2)], SP2's priority with respect to the proceeds (instrument) dates from its filing as to the original collateral (accounts). Accordingly, SP2's security interest would be senior.

Subsection (b) [Maine cite subsection (2)] does not apply to conflicting security interests each of which is perfected by a pre-effective-date filing that was not effective under former Article 9 but is effective under this Article.

Example 7: In 1999, SP1 obtains a security interest in D's existing and after-acquired instruments and files a financing statement covering "instruments." In 2000, D grants a security interest in its existing and after-acquired instruments in favor of SP2, who files a financing statement covering "instruments." After this Article takes effect on July 1, 2001, one of D's account debtors gives D a negotiable note to evidence its obligation to pay an overdue account. Under the first-to-file- or-perfect rule in Section 9-322(a) [Maine cite section 9-1322, subsection (1)], SP1 would have priority in the instrument. Both filings are effective under this Article, see Section 9-705(b) [Maine cite section 9-1705, subsection (2)], and SP1's filing in 1999 was earlier than SP2's in 2000. Subsection (b) [Maine cite subsection (2)] does not change this result.