N.Y. Uniform Commercial Code 9-602 – Waiver and Variance of Rights and Duties
Section 9–602. Waiver and Variance of Rights and Duties.
Terms Used In N.Y. Uniform Commercial Code 9-602
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Except as otherwise provided in Section 9–624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(a) Section 9–207 (b) (4) (C), which deals with use and operation of the collateral by the secured party;
(b) Section 9–210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(c) Section 9–607 (c), which deals with collection and enforcement of collateral;
(d) Sections 9–608 (a) and 9–615 (c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(e) Sections 9–608 (a) and 9–615 (d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(f) Section 9–609 to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(g) Sections 9–610 (b), 9–611, 9–613, and 9–614, which deal with disposition of collateral;
(h) Section 9–615 (f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(i) Section 9–616, which deals with explanation of the calculation of a surplus or deficiency;
(j) Sections 9–620, 9–621, and 9–622, which deal with acceptance of collateral in satisfaction of obligation;
(k) Section 9–623, which deals with redemption of collateral;
(l) Section 9–624, which deals with permissible waivers; and
(m) Sections 9–625 and 9–626, which deal with the secured party's liability for failure to comply with this article.