18 (1) The security interest over the investment asset granted to secure the existing funding obligations and other obligations under or contemplated by the governing documents for the existing funding obligations continues to be valid and enforceable in accordance with its terms. 2019, c. 6, Sched. 3, s. 5. Same (2) The investment asset owner may grant a security interest over all or a specified portion of its right, title and interest in, to and under the investment asset to or in favour of any person to secure an existing funding obligation. 2019, c. 6, Sched. 3, s. 5. Validity (3) A security interest granted under this Act, including a security interest granted under this Act as it read immediately before the final plan date, shall be valid and enforceable in accordance with its terms. 2019, c. 6, Sched. 3, s. 5. Perfection and priority of security interests (4) All provisions of the Personal Property Security Act shall apply to the investment asset and any portion of the investment asset on the basis that the investment asset and any portion of the investment asset is intangible personal property, except as otherwise provided for in this section, and any granting of a security interest by the investment asset owner to secure an existing funding obligation shall, subject to the terms of the existing funding obligation, give rise to a security interest in respect of which that Act applies and may be perfected by registering a financing statement under that Act on that basis. 2019, c. 6, Sched. 3, s. 5. Proceeds (5) All proceeds of any portion of the investment asset that are subject to the security interest referred to in subsection (1) or (2) and that are received by the investment asset owner shall immediately be subject to the security interest and shall be perfected without any physical delivery of the proceeds, registration of any financing statement or any further act. 2019, c. 6, Sched. 3, s. 5. Perfection (6) The security interest shall be a continuously perfected security interest and shall have priority over any other lien, created by operation of law or otherwise, that may subsequently attach to the property rights and interests in the same portion of the investment asset subject to the security interest, unless the person to whom the security interest has been granted consents otherwise. 2019, c. 6, Sched. 3, s. 5. Same (7) The person to whom the security interest has been granted shall have a perfected security interest in revenues or other proceeds that are deposited in any account of any person who may have commingled such revenues or other proceeds with other funds. 2019, c. 6, Sched. 3, s. 5. Notice required (8) The secured party shall be entitled to exercise the rights of the investment asset owner only after the secured party has given notice of the enforcement of its security interest to the Fair Hydro Trust. 2019, c. 6, Sched. 3, s. 5. Interpretation (9) For the purposes of this section, a security interest is perfected when it is perfected as described in the Personal Property Security Act. 2019, c. 6, Sched. 3, s. 5. Section Amendments with date in force (d/m/y) 2019, c. 6, Sched. 3, s. 5 - 01/11/2019 19-22 Repealed: 2019, c. 6, Sched. 3, s. 5. Section Amendments with date in force (d/m/y) 2019, c. 6, Sched. 3, s. 5 - 01/11/2019 Part V Repealed: 2019, c. 6, Sched. 3, s. 5. Part VI Repealed: 2019, c. 6, Sched. 3, s. 5. Part VII   Miscellaneous