The principal substantive provision of the Base Convention of
interest is Article 30(1), which provides that "an assignment of an
international interest in an object made in conformity with the
preceding Article transfers to the assignee, to the extent agreed by
the parties to the assignment: (a) all the interests and priorities of
the assignor under this Convention; and (b) all associated rights."9
Paragraph 1(a) is straightforward: the assignee of an international
interest receives what the assignor assigned, including the priority
of the assigned interest. Paragraph 1(b) must be read with the
definition of "associated rights," defined in Article 1 as "all rights
to payment or other performance by the obligor under an agreement
or a contract of sale secured by or associated with the object."
10 Article 30(1) establishes the baseline scheme. An assig