Recourse to Collateral. The Buyer shall have recourse to the Promissory Note, and may satisfy the Obligations from amounts due to the Seller thereunder, if, and to the extent: (i) the Seller incurs an obligation to indemnify the Buyer under Section 7.2 of the Asset Purchase Agreement, (ii) the foregoing obligation to indemnify the Buyer has become final and unappealable, and (iii) the Seller fails to satisfy its obligations of indemnity in accordance with Section 7.5 of the Asset Purchase Agreement.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Derma Sciences, Inc.), Security Agreement (Derma Sciences, Inc.)