Document:

schedule101.htm

Schedule 1.01

Existing Letters of Credit

	
Letters of Credit Reference Number

	
Account Party

	
Beneficiary Name

	
Maturity Date

	
Outstanding Amount (USD)

	
RRRI-529416

 

	
Audiovox Corporation

	
SKYPINE TECHNOLOGY CO., LTD.

 

	
June 7, 2010

	
$1,090,850.00

 

	
RRRI-529417

 

	
Audiovox Corporation

	
WAI HANG ELECTRONIC CO LTD

 

	
April 20, 2010

	
$18,250.00

 

	
T-696573

 

	
Audiovox Corporation

	
EMPIRE HEALTH ASSURANCES INC

 

	
August 9, 2010

	
$716,751.00

 

	
T-802614

 

	
Audiovox Corporation

	
LIBERTY MUTUAL INSURANCE CO.

	
July 7, 2010

	
$300,000.00

 

	
T-900103

 

	
Audiovox Corporation

	
BANCO BILBAO VIZCAYA ARGENTARIA

	
July 7, 2010

	
$270,130.89schedule306.htm

SCHEDULE 3.06

TO THE CREDIT AGREEMENT

 

DISCLOSED MATTERS

 

LITIGATION

 

MPEG LA, LLC v. Audiovox Electronics Corporation

Supreme Court of the State of New York, Suffolk Countyschedule313.htm

SCHEDULE 3.13

TO THE CREDIT AGREEMENT

 

CAPITALIZATION AND SUBSIDIARIES

 

	  Subsidiaries	
Jurisdiction of

	
% of

	
 

	
Incorporation

	
Ownership*

	
Audiovox Accessories Corp.

	
Delaware

	
100%

	
Batteries.com, LLC

	
Indiana

	
100%**

	
Technuity, Inc.

	
Indiana

	
100%**

	
Audiovox Electronics Corporation

	
Delaware

	
100%

	
Code Systems, Inc.

	
Delaware

	
100%***

	
Audiovox Consumer Electronics Inc.

	
Delaware

	
100%

	
American Radio Corp.

	
Georgia

	
100%

 

*Audiovox Corporation is parent unless otherwise indicated. 

**Audiovox Accessories Corporation is the parent.

***Audiovox Electronics Corporation is the parent.

****None of these subsidiaries is a Material Foreign Subsidiaryschedule601.htm

SCHEDULE 6.01

TO THE CREDIT AGREEMENT

 

EXISTING INDEBTEDNESS

 

 

	
·  

	
Unsecured $10,000,000 line of credit with JPMorgan Chase.

 

	
·  

	
SunTrust Bank, $5,000,000 Term Loan to Invision Automotive Systems Inc. from February 1, 2010 through January 31, 2011, guaranteed by Audiovox Corporationschedule602.htm

SCHEDULE 6.02

TO THE CREDIT AGREEMENT

 

EXISTING LIENS

 

 

Lien on Invision Automotive Systems, Inc. Inventory

Equipment Leases:

Audiovox Corporation:

	
  State

	
Jurisdiction

	
Expiration Date

	
Original File Date

	
File Number

	
Secured Party

	
DE

	
SOS

	
10/21/2010

	
10/21/2005

	
53277341

	
Wells Fargo Equipment Finance

	
DE

	
SOS

	
2/16/2012

	
2/16/2007

	
70621325

	
US Express Leasing Inc.

	
DE

	
SOS

	
2/21/2012

	
2/21/2007

	
70662907

	
Wells Fargo Equipment Finance

	
DE

	
SOS

	
6/22/2012

	
6/22/2007

	
72371416

	
Wells Fargo Financial Leasing Inc.

	
DE

	
SOS

	
4/30/2013

	
4/30/2008

	
81495819

	
Key Equipment Finance Inc.

	
DE

	
SOS

	
4/30/2013

	
4/30/200/

	
81496312

	
Key Equipment Finance Inc.

	
DE

	
SOS

	
6/20/2013

	
6/20/2008

	
82125126

	
Wells Fargo Equipment Finance Inc.

	
DE

	
SOS

	
6/30/2013

	
6/30/2008

	
82235693

	
Wells Fargo Equipment Finance Inc.

	
DE

	
SOS

	
10/9/2013

	
10/9/2008

	
83421656

	
Wells Fargo Equipment Finance Inc.

	
DE

	
SOS

	
10/21/2013

	
10/21/200/

	
83545678

	
Popular Equipment Finance Inc.

	
DE

	
SOS

	
1/21/2014

	
1/21/2009

	
90208139

	
Wells Fargo Equipment Finance Inc.

	
DE

	
SOS

	
1/21/2014

	
1/21/2009

	
90208253

	
Wells Fargo Equipment Finance Inc.

	
DE

	
SOS

	
1/21/2014

	
1/21/2009

	
90208352

	
Wells Fargo Equipment Finance Inc.

	
DE

	
SOS

	
2/11/2014

	
2/11/2009

	
90455763

	
Wells Fargo Financial Leasing Inc.

	
DE

	
SOS

	
3/26/2014

	
3/26/2009

	
9095522

	
Heartland Business Credit

	
DE

	
SOS

	
3/27/2014

	
3/27//2009

	
91074969

	
AEL Financial LLC

	
DE

	
SOS

	
5/28/2014

	
5/28/2009

	
91678660

	
Heartland Business Credit

	
DE

	
SOS

	
6/19/2014

	
6/19/2009

	
91958138

	
Heartland Business Credit

	
DE

	
SOS

	
7/1/2014

	
7/1/2009

	
92118856

	
IBM Credit LLC

	
DE

	
SOS

	
8/7/2014

	
8/7/2009

	
92534318

	
Heartland Business Credit

	
DE

	
SOS

	
8/27/2014

	
8/27/2009

	
92767579

	
IB M Credit LLC

	
DE

	
SOS

	
9/30/2014

	
9/30/2009

	
93136170

	
Heartland Business Credit

	  	  	  	  	  	  
	
Audiovox Electronics Corpooration

	  	  
	
DE

	
SOS

	
Continuation

3/3/2009

	
8/30/2004

	
42439943

	
 Bank One, NA

	
DE

	
SOS

	
6/23/2014

	
6/23/2009

	
92003322

	
California First Leasing Corporation

	  	  	  	  	  	  
	
Technuity Inc.

	
IN

	
SOS

	
4/25/2011

	
4/25/2006

	
200600003937464

	
Citicorp Leasing, Inc.

	
IN

	
SOS

	
6/4/2013

	
6/4/2008

	
200800005219512

	
US Bancorpschedule607.htm

SCHEDULE 6.07

TO THE CREDIT AGREEMENT

 

 

 

EXISTING RESTRICTIONS

 

 

 

	
·  

	
SunTrust Bank, $5,000,000 Term Loan to Invision Automotive Systems Inc. from February 1, 2010 through January 31, 2011, guaranteed by Audiovox Corporationexhibita.htm

 EXHIBIT A

 

 

ASSIGNMENT AND ASSUMPTION

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”).  Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee.  The Standard Terms and Conditions set forth in Annex 1 attached hereto (the “Standard Terms and Conditions”) are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor (including any letters of credit, guarantees, and swingline loans) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”).  Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor.

1.           Assignor:                                ______________________________

	
2. 

	
 

	
Assignee:

	
______________________________

	
  

	
[and is an Affiliate/Approved Fund of [identify Lender]1]

	
 
3.

	
 

	
Administrative Agent:

	
______________________, as the administrative agent under the Credit Agreement

	
4.

	
 

	
Credit Agreement:

	
The Credit Agreement dated as of March 31, 2010, among Audiovox Corporation, the other Loan Paries party thereto, the Lenders parties thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent

  
1 Select as applicable.

Exhibit A

509265-1423-11447-11698801

  

  

  

	
5. 

	
 

	
Assigned Interest:

	
  

	
­­­­­­­­­­­­­­­­­­­­­­­­

	
Aggregate Amount of Commitment/Loans for all Lenders

	
Amount of Commitment/Loans Assigned

	
Percentage Assigned of Commitment/Loans2

	
$

	
$

	
%

	
$

	
$

	
%

	
$

	
$

	
%

Effective Date:   _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The Assignee agrees to deliver to the Administrative Agent, except if the Assignee is already a Lender pursuant to the terms of the Credit Agreement, a completed Administrative Questionnaire in which the Assignee designates one or more Credit Contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the Loan Parties and their Related Parties or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws.

The terms set forth in this Assignment and Assumption are hereby agreed to:

ASSIGNOR

	
  

	
[NAME OF ASSIGNOR]

By:______________________________

   Title:

ASSIGNEE

[NAME OF ASSIGNEE]

By:______________________________

   Title:

  
2 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

Exhibit A

509265-1423-11447-11698801

  

  

  

Consented to and Accepted:

JPMORGAN CHASE BANK, N.A., as

  Administrative Agent

By_________________________________

  Title:

 

 

Consented to:

Issuing Bank

By________________________________

  Title:

 

[Consented to:

Borrower

By________________________________

  Title:]

Exhibit A

509265-1423-11447-11698801

  

  

  

ANNEX 1

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

1.  Representations and Warranties.

1.1   Assignor.  The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document.

1.2.  Assignee.  The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.

2.   Payments.    From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

3.  Processing and Recordation Fee.                                                                In connection with the Assignment and Assumption, the parties thereto shall deliver to the Administrative Agent a processing and recordation fee of $3,500.

4.  General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.  This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.

Delivery of an executed counterpart of a signature page of this Assignment and Assumption by facsimile shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption.  This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York.

Exhibit A

509265-1423-11447-11698801

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