Obtaining a court order is more time-consuming than unilateral mortgagee actions but is less likely to expose the mortgagee to the risk of a damage claim. The provisional injunction may force the mortgagor to take or avoid certain actions with respect to the aircraft. In filing for the provisional injunction, the mortgagee must post a bond in an amount set by the court and meet certain technical statutory requirements. If provisional injunction is granted by an ROC court, the mortgagee will be required, within a time period set by the court, to file its claim in an ROC court if the mortgagee has not previously done so. Alternatively, the mortgagee may directly take action to preserve the value of the aircraft without prior court approval.
Necessary costs relating thereto are to be borne by the mortgagor.
If a default occurs under the lease, the lessor is entitled to damages equal to the future rent that would have been paid under the lease less estimated rent obtainable under then current market conditions. Unless the lessee voluntarily delivers possession of the aircraft to the lessor, the lessor attempting to regain possession after a default must first obtain a court judgment. The time required to obtain a final court judgment may be six months to one year or longer. After a judgment is obtained, repossession of the aircraft may take an additional one to two months. Prior to obtaining a final court judgment, the lessor may apply to the court for an order of provisional injunction to require the lessee to take or refrain from taking certain actions relating to the aircraft to safe-guard the lessor's interest in repossession of the aircraft.