BOOM » Topics » Recourse Claims

This excerpt taken from the BOOM 8-K filed Sep 11, 2009.
Recourse Claims

 

In deviating from § 1225 German Civil Code, no right of the Administrative Agent against any of the other Obligors shall pass to the Pledgor as a result of either the enforcement of the Pledges or payment of the Pledgor, and the Pledgor undertakes not to seek satisfaction for any other recourse claim it may have against any of the other Obligors. This shall not apply if all Secured Claims have been fully and finally discharged.

 

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