Convention on International Interests in Mobile Equipment Act, 2007 (Act No. 4 of 2007SchedulesSchedule 2 : ProtocolChapter II : Default Remedies, Priorities and AssignmentsArticle XVI - Debtor provisions |
| (1) | In the absence of a default within the meaning of Article 11 of the Convention, the debtor shall be entitled to the quiet possession and use of the object in accordance with the agreement as against— |
| (a) | its creditor and the holder of any interest from which the debtor takes free pursuant to Article 29 (4) of the Convention or, in the capacity of buyer, Article XIV (1) of this Protocol, unless and to the extent that the debtor has otherwise agreed; and |
| (b) | the holder of any interest to which the debtor’s right or interest is subject pursuant to Article 29 (4) of the Convention or, in the capacity of buyer, Article XIV (2) of this Protocol, but only to the extent, if any, that such holder has agreed. |
| (2) | Nothing in the Convention or this Protocol affects the liability of a creditor for any breach of the agreement under the applicable law in so far as that agreement relates to an aircraft object. |