Section 4: Grantor's right in the Collateral

(1) A Security Interest shall be created to the extent of the rights that the Grantor has in the Collateral.
(2) A transfer of Account Receivable or Security Interest in an Account Receivable by a Grantor is effective:
(a) between the Grantor and the Creditor; and
(b) against the account debtor of the Account Receivable notwithstanding any agreement limiting the account debtor's right to create a
Security Interest in or assign its Account Receivable.
(3) A Creation of a security interest in any movable asset is effective, notwithstanding any agreement limiting the grantor's right to create such security interest.