Audiovox 2012 Annual Report Download - page 215

(c) Bank Product Obligations Unaffected. Any repayment or prepayment made pursuant to this Section shall not
affect the Borrowers' joint and several obligation to continue to make payments under any Bank Product, which shall remain in
full force and effect notwithstanding such repayment or prepayment, subject to the terms of such Bank Product.
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(a) If all or a portion of the principal amount of any Domestic Revolving Loan which is a LIBOR Rate Loan shall not
be paid when due or continued as a LIBOR Rate Loan in accordance with the provisions of Section 2.9 (whether at the stated
maturity, by acceleration or otherwise), such overdue principal amount of such Loan shall be converted to an Alternate Base
Rate Loan at the end of the Interest Period applicable thereto.
(b) Upon the occurrence and during the continuance of a (i) Bankruptcy Event or a Payment Event of Default, the
principal of and, to the extent permitted by law, interest on the Loans and any other amounts owing hereunder or under the
other Credit Documents shall automatically bear interest at a rate per annum which is equal to the Default Rate and (ii) any
other Event of Default hereunder, at the option of the Required Lenders, the principal of and, to the extent permitted by law,
interest on the Loans and any other amounts owing hereunder or under the other Credit Documents shall automatically bear
interest, at a per annum rate which is equal to the Default Rate, in each case from the date of occurrence of such Event of
Default until such Event of Default is waived in accordance with Section 9.1. Any default interest owing under this Section
2.8(b) shall be due and payable on the earlier to occur of (x) demand by the Administrative Agent (which demand the
Administrative Agent shall make if directed by the Required Lenders) and (y) the Maturity Date.
(c) Interest on each Loan shall be payable in arrears on each Interest Payment Date; provided that interest accruing
pursuant to paragraph (b) of this Section shall be payable from time to time on demand.
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