This paper considers the natural extension of locally recoverable codes (LRC) to the case of t > 1 erased symbols. While several approaches have been proposed for the handling of multiple erasures, in the approach considered here, the t erased symbols are recovered in succession, each time contacting at most r other symbols for assistance. Under the local-recovery constraint, this sequential approach is the most general and hence offers the maximum possible code rate. We characterize the rate of an LRC with sequential recovery for any r \geq 3 and any t, by first deriving an upper bound on the code rate and then constructing a binary code achieving this optimal rate. The upper bound derived here proves an earlier conjecture. Our approach pe...