Subject to subsections (8), (9) and (10), all the rights and powers of a bank in respect of the property covered by security given under this section have priority over all rights subsequently acquired in, on or in respect of the property and also over the claim of any mechanics’ lien holder, of any unpaid vendor of equipment or casing or of any person who had a security interest in that property that was unperfected at the time the bank acquired its security in the property.
Subject to subsections (8), (9) and (10), all the rights and powers of a bank in respect of the property covered by security given under this section have priority over all rights subsequently acquired in, on or in respect of such property and also over the claim of any mechanics’ lien holder or of any unpaid vendor of equipment or casing but this priority does not extend over the claim of any unpaid vendor who had a lien on the equipment or casing at the time of the acquisition by the bank of the security, unless the security was acquired without knowledge on the part of the bank of that lien.