9-622. EFFECT OF ACCEPTANCE OF COLLATERAL.

(A) A SECURED PARTY'S ACCEPTANCE OF COLLATERAL IN FULL OR PARTIAL
SATISFACTION OF THE OBLIGATION IT SECURES:

(1) DISCHARGES THE OBLIGATION TO THE EXTENT CONSENTED TO BY
THE DEBTOR;

(2) TRANSFERS TO THE SECURED PARTY ALL OF A DEBTOR'S RIGHTS IN
THE COLLATERAL;

(3) DISCHARGES THE SECURITY INTEREST OR AGRICULTURAL LIEN
THAT IS THE SUBJECT OF THE DEBTOR'S CONSENT AND ANY SUBORDINATE
SECURITY INTEREST OR OTHER SUBORDINATE LIEN; AND

(4) TERMINATES ANY OTHER SUBORDINATE INTEREST.

(B) A SUBORDINATE INTEREST IS DISCHARGED OR TERMINATED UNDER
SUBSECTION (A), WHETHER OR NOT THE SECURED PARTY SENDS OR IS REQUIRED TO
SEND ITS PROPOSAL TO THE HOLDER OF THE INTEREST. HOWEVER, ANY PERSON TO
WHICH THE SECURED PARTY WAS REQUIRED TO SEND, BUT DID NOT SEND, ITS
PROPOSAL HAS THE REMEDY PROVIDED BY § 9-625(B).

9-623. RIGHT TO REDEEM COLLATERAL.

(A) A DEBTOR, ANY SECONDARY OBLIGOR, OR ANY OTHER SECURED PARTY OR
LIENHOLDER MAY REDEEM COLLATERAL.

(B) TO REDEEM COLLATERAL, A PERSON SHALL TENDER:

(1) FULFILLMENT OF ALL OBLIGATIONS SECURED BY THE COLLATERAL;

AND

(2) THE REASONABLE EXPENSES AND ATTORNEYS FEES DESCRIBED IN
§ 9-615(A)(1).

(C) A REDEMPTION MAY OCCUR AT ANY TIME BEFORE A SECURED PARTY:

(1) HAS COLLECTED COLLATERAL UNDER § 9-607;

(2) . HAS DISPOSED OF COLLATERAL OR ENTERED INTO A CONTRACT FOR
ITS DISPOSITION UNDER § 9-610; OR

(3) HAS ACCEPTED COLLATERAL IN FULL OR PARTIAL SATISFACTION OF
THE OBLIGATION IT SECURES UNDER § 9-622.

9-624. WAIVER

(A) A DEBTOR OR SECONDARY OBLIGOR MAY WAIVE THE RIGHT TO
NOTIFICATION OF DISPOSITION OF COLLATERAL UNDER § 9-611 ONLY BY AN
AGREEMENT TO THAT EFFECT ENTERED INTO AND AUTHENTICATED AFTER
DEFAULT.