Audiovox 2012 Annual Report Download - page 260

(c) promptly, any litigation, or any investigation or proceeding known or threatened to any Credit Party (i) affecting
any Credit Party or any of its Subsidiaries which, individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect or involve a monetary claim in excess of $1,000,000 or involving injunctions or requesting injunctive
relief by or against any Credit Party or any Subsidiary of any Credit Party, (ii) affecting or with respect to this Agreement, any
other Credit Document or any security interest or Lien created thereunder, (iii) involving an environmental claim or potential
liability under Environmental Laws which could reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect, or (iv) by any Governmental Authority relating to any Credit Party or any Subsidiary thereof and alleging
fraud, deception or willful misconduct by such Person;
(d) of any labor controversy that has resulted in, or threatens to result in, a strike or other work action against any
Credit Party which could reasonably be expected to have a Material Adverse Effect;
(e) of any attachment, judgment, lien, levy or order exceeding $1,000,000 that may be assessed against or threatened
against any Credit Party other than Permitted Liens;
(f) as soon as possible and in any event within thirty (30) days: (i) the occurrence or expected occurrence of any
Reportable Event with respect to any Plan, a failure to make any required contribution to a Plan, the creation of any Lien in
favor of the PBGC (other than a Permitted Lien) or a Plan or any withdrawal from, or the termination, Reorganization or
Insolvency of, any Multiemployer Plan or (ii) the institution of proceedings or the taking of any other action by the PBGC or
any Credit Party, any Commonly Controlled Entity or any Multiemployer Plan, with respect to the withdrawal from, or the
terminating, Reorganization or Insolvency of, any Plan;
(g) promptly of the occurrence of any material weakness in, or fraud that involves management or other employees
who have a significant role in, any Credit Party's internal controls over financial reporting, in each case as described in the
Securities Laws;
(h) as soon as possible and in any event within ten (10) days prior to creating a Domestic Subsidiary or a Foreign
Subsidiary, notice of the creation of such Domestic Subsidiary or Foreign Subsidiary;
(i) promptly, any other development or event which could reasonably be expected to have a Material Adverse Effect.
Each notice pursuant to this Section shall be accompanied by a statement of an Authorized Officer setting forth details of the occurrence
referred to therein and stating what action the Credit Parties propose to take with respect thereto. In the case of any notice of a Default or
Event of Default, the Borrowers shall specify that such notice is a Default or Event of Default notice on the face thereof.
107