New Jersey § 12a:9-323

§ 12a:9-323.

(a) When priority based on time of advance. Except as otherwise provided in subsection (c) , for purposes of determining the priority of a perfected security interest under

12A:9-322 (a) (1), perfection of the security interest dates from the time an advance is made to

the extent that the security interest secures an advance that: (1) is made while the security interest is perfected only: (A) under 12A:9-309 when it attaches; or (B) temporarily under 12A:9-312 (e), (f) or (g) ; and (2) is not made pursuant to a commitment entered into before or while the security

interest is perfected by a method other than under 12A:9-309 or 12A:9-312 (e), (f) or (g) . (b) Lien creditor. Except as otherwise provided in subsection (c) , a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance

made more than 45 days after the person becomes a lien creditor unless the advance

is made: (1) without knowledge of the lien; or (2) pursuant to a commitment entered into without knowledge of the lien. (c) Buyer of receivables. Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts,

chattel paper, payment intangibles, or promissory notes, or a consignor. (d) Buyer of goods. Except as otherwise provided in subsection (e) , a buyer of goods other than a buyer in ordinary course of business takes free of

a security interest to the extent that it secures advances made after the earlier

of: (1) the time the secured party acquires knowledge of the buyer's purchase; or (2) 45 days after the purchase. (e) Advances made pursuant to commitment: priority of buyer of goods. Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without

knowledge of the buyer's purchase and before the expiration of the 45-day period. (f) Lessee of goods. Except as otherwise provided in subsection (g) , a lessee of goods, other than a lessee in ordinary course of business, takes the

leasehold interest free of a security interest to the extent that it secures advances

made after the earlier of: (1) the time the secured party acquires knowledge of the lease; or (2) 45 days after the lease contract becomes enforceable. (g) Advances made pursuant to commitment: priority of lessee of goods. Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without

knowledge of the lease and before the expiration of the 45-day period.