Audiovox 2012 Annual Report Download - page 204

The outstanding principal amount of the Term Loan and all accrued but unpaid interest and other amounts payable with respect
to the Term Loan shall be repaid on the Maturity Date.
(c) Interest on the Term Loan. Subject to the provisions of Section 2.8, the Term Loan shall bear interest as follows:
(i) Alternate Base Rate Loans. During such periods as the Term Loan shall be comprised of Alternate Base
Rate Loans, each such Alternate Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Alternate
Base Rate plus the Applicable Margin; and
(ii) LIBOR Rate Loans. During such periods as the Term Loan shall be comprised of LIBOR Rate Loans, each
such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable
Margin.
Interest on the Term Loan shall be payable in arrears on each Interest Payment Date.
(d) Term Loan Notes; Covenant to Pay. The Domestic Borrowers' obligation to pay each Term Loan Lender shall be
evidenced by this Agreement and, upon such Term Loan Lender's request, by a duly executed promissory note of the Domestic
Borrowers to such Term Loan Lender in substantially the form of Exhibit 2.2(d).
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(a) Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and
conditions which the Issuing Lender may reasonably require, during the Commitment Period the Issuing Lender shall issue, and
the U.S. Revolving Lenders shall participate in, standby or commercial Letters of Credit denominated in Dollars for the account
of the Domestic Borrowers from time to time upon request in a form acceptable to the Issuing Lender; provided, however, that
(i) the aggregate amount of LOC Obligations shall not at any time exceed TWENTY-FIVE MILLION DOLLARS
($25,000,000) (the “LOC Committed Amount”), (ii) the Aggregate U.S. Revolving Exposure shall not exceed the Revolving
Availability Amount and (iii) Letters of Credit shall be issued for any lawful corporate purposes and shall be issued as standby or
commercial letters of credit. Except as otherwise expressly agreed in writing by all the U.S. Revolving Lenders, no Letter of
Credit shall have an original expiry date more than twelve (12) months from the date of issuance; provided, however, so long as
no Default or Event of Default has occurred and is continuing and subject to the other terms and conditions to the issuance of
Letters of Credit hereunder, the expiry dates of Letters of Credit may be extended annually or periodically from time to time on
the request of the Company or by operation of the terms of the applicable Letter of Credit to a date not more than twelve (12)
months from the date of extension; provided, further, that no Letter of Credit, as originally issued or as extended, shall have an
expiry date extending beyond the date that is five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall
comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Each
standby Letter of Credit issued hereunder shall be in a minimum original face
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