RIGHTS OF RECOURSE. 9.1 For as long as the Secured Obligations are outstanding and have not been unconditionally and irrevocably paid and discharged in full or the Collateral Agent or the Secured Parties have any obligations or commitments under the Loan Documents, the Pledgor shall not exercise any Rights of Recourse, arising for any reason whatsoever, by any means whatsoever (including for the avoidance of doubt, by way of provisional measures such as provisional attachment (“saisie-arrêt conservatoire”) or by way of set-off). 9.2 The Pledgor furthermore irrevocably waives its Rights of Recourse against any Obligor if (and as of the moment where) the shares of such Obligor (or any holding company of such Obligor) have been disposed of to a person or persons outside the group by enforcement of any Security Document. Without prejudice to Clause 9.1 above, this Clause shall remain in full force and effect notwithstanding any discharge, release or termination of this Pledge (whether or not in accordance with Clause 7.1 of this Pledge Agreement).
Appears in 3 contracts
Sources: Term Loan Credit Agreement, Term Loan Credit Agreement (International Lease Finance Corp), Term Loan Security Agreement (International Lease Finance Corp)