On the occurrence of this event, no debtor default is necessary, the possession of the aircraft object must be transferred to the creditor by the end of a specified waiting period.
The average waiting period is between 30 and 60 days, depending on the declaration of the Contracting State, online: http://www.unidroit.org/english/implement/i-2001-aircraftprotocol.pdf (January 2, 2009