Section 5. Obligation of debtor and creditor to an agreement.

(1) A debtor shall maintain and submit to the registry authority, records of dues arising from, related to or owed in regard to the ownership or use by the owner or operator of the aircraft object, in such form and manner as may be prescribed. (2) A creditor shall not be entitled to exercise any remedy under the Convention or Protocol unless such creditor declares the occurrence of default by notifying the registry authority, in such form and manner as may be prescribed.