PART 3EFFECT OF INTERNATIONAL INTEREST
Assignment
Default remedies in respect of assignment by way of security30
In the event of default by the assignor under the assignment of associated rights and the related international interest made by way of security, regulations 18, 19, 20, 23, 25 and 48 apply in the relations between the assignor and the assignee (and, in relation to associated rights, apply in so far as those provisions are capable of application to intangible property) as if references—
a
to the secured obligation and the security interest were references to the obligation secured by the assignment of the associated rights and the related international interest and the security interest created by that assignment;
b
to the chargee or creditor and chargor or debtor were references to the assignee and assignor;
c
to the holder of the international interest were references to the assignee; and
d
to the aircraft object were references to the assigned associated rights and the related international interest.