MARVIN MANDEL, Governor

267

"Purchase money security interest." § 9—107.

(3)   The following definitions in other [subtitles]
TITLES apply to this [subtitle] TITLE.

"Check." § 3-104.

"Contract for sale." § 2—106.

"Holder in due course." § 3—302.

"Note." § 3-104.

"Sale." § 2-106.

(4)   In addition [subtitle] TITLE 1 contains general
definitions and principles of construction and
interpretation applicable throughout this ["subtitle]
TITLE.

9—106. Definitions: "Account"; "contract right";
"general intangibles."

"Account" means any right to payment for goods sold
or leased or for services rendered which is not evidenced
by an instrument or chattel paper.

"Contract right" means any right to payment under a
contract not yet earned by performance and not evidenced
by an instrument or chattel paper.

"General intangibles" means any personal property
(including things in action) other than goods, accounts,
contract rights, chattel paper, documents and
instruments.

9—107. Definitions: "Purchase money security interest."

A security interest is a "purchase money security
interest" to the extent that it is

(a)    Taken or retained by the seller of the
collateral to secure all or part of its price; or

(b)   Taken by a person who by making advances
or incurring an obligation gives value to enable the
debtor to acquire rights in or the use of collateral if
such value is in fact so used.

9—108. When after—acquired collateral not security for
antecedent debt.

Where a secured party makes an advance, incurs an
obligation, releases a perfected security interest, or
otherwise gives new value which is to be secured in whole
or in part by after—acquired property his security
interest in the after—acquired collateral shall be deemed
to be taken for new value and not as security for an