RRTs are digital tokens that represent a limited-recourse, contingent obligation of the Bitfinex Group. They are notional credits, dependent on the recovery of Losses by the Bitfinex Group, and subordinate to all other claims against the Bitfinex Group. Recovery in this context refers to the recovery of the property taken during the Event. As of November 30, 2016, the total number of issued and outstanding RRTs is 30,199,822.40. An RRT entitles the holder to a share of the recovery only after all BFX tokens have been redeemed. If there are sufficient recovery amounts remaining after the redemption of all BFX tokens, RRTs are entitled to share in the recovery at a rate of 1:1. For example, one RRT entitles the holder to US$1.00 of recovery, 1/2 of an RRT entitles the holder to US$0.50 of recovery, and so on. If the remaining recovery amount is insufficient to cover RRTs on this basis, the remaining recovery amount will be allocated among RRTs pro rata. Any recovery amounts available in excess of 1:1 to RRT holders belong solely to the Bitfinex Group. The Bitfinex Group has the option to redeem RRTs at any time using dollars, digital tokens, or other property at current market values. By holding, owning, or possessing RRTs, you release and hold harmless the Bitfinex Group from any claim associated with the recovery efforts undertaken as a result of the Event and the Losses. Any rights, claims, and defenses available to the Bitfinex Group under the terms of service at bitfinex.com are expressly reserved.