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Ex

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| 1.  | DEFINITIONS      AND INTERPRETATION                                               | 3   |
|-----|-----------------------------------------------------------------------------------|-----|
| 2.  | THE      FACILITY                                                                 | 49  |
| 3.  | PURPOSE                                                                           | 50  |
| 4.  | CONDITIONS      OF UTILISATION                                                    | 50  |
| 5.  | UTILISATION      LOAN                                                             | 51  |
| 6.  | REPAYMENT                                                                         | 52  |
| 7.  | EXTENSION      OF INITIAL TERMINATION DATE                                        | 54  |
| 8.  | ILLEGALITY,      VOLUNTARY PREPAYMENT AND CANCELLATION                            | 56  |
| 9.  | MANDATORY      PREPAYMENT                                                         | 58  |
| 10. | RESTRICTIONS                                                                      | 58  |
| 11. | INTEREST                                                                          | 59  |
| 12. | INTEREST      PERIODS                                                             | 60  |
| 13. | CHANGES      TO THE CALCULATION OF INTEREST                                       | 61  |
| 14. | FEES                                                                              | 63  |
| 15. | TAX      GROSS UP AND INDEMNITIES                                                 | 64  |
| 16. | INCREASED      COSTS                                                              | 68  |
| 17. | OTHER      INDEMNITIES                                                            | 69  |
| 18. | MITIGATION      BY THE LENDERS                                                    | 71  |
| 19. | COSTS      AND EXPENSES                                                           | 71  |
| 20. | GUARANTEE      AND INDEMNITY                                                      | 72  |
| 21. | REPRESENTATIONS                                                                   | 76  |
| 22. | INFORMATION      UNDERTAKINGS                                                     | 84  |
| 23. | FINANCIAL      COVENANTS                                                          | 89  |
| 24. | GENERAL      UNDERTAKINGS                                                         | 95  |
| 25. | EVENTS      OF DEFAULT                                                            | 105 |
| 26. | CHANGES      TO THE LENDERS                                                       | 110 |
| 27. | RESTRICTION      ON DEBT PURCHASE TRANSACTIONS                                    | 115 |
| 28. | CHANGES      TO THE OBLIGORS                                                      | 116 |
| 29. | ROLE      OF THE FACILITY AGENT, THE SECURITY AGENT, THE ARRANGER AND      OTHERS | 116 |
| 30. | CONDUCT      OF BUSINESS BY THE FINANCE PARTIES                                   | 127 |
| 31. | SHARING      AMONG THE FINANCE PARTIES                                            | 127 |
| 32. | PAYMENT      MECHANICS                                                            | 129 |
| 33. | SET-OFF                                                                           | 133 |
| 34. | NOTICES                                                                           | 133 |
| 35. | CALCULATIONS      AND CERTIFICATES                                                | 136 |
| 36. | PARTIAL      INVALIDITY                                                           | 136 |
| 37. | REMEDIES      AND WAIVERS                                                         | 137 |

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| 38. | AMENDMENTS      AND WAIVERS | 137 |
|-----|-----------------------------|-----|
| 39. | CONFIDENTIALITY             | 141 |
| 40. | COUNTERPARTS                | 145 |
| 41. | GOVERNING      LAW          | 145 |
| 42. | ENFORCEMENT                 | 146 |

| SCHEDULE      1 THE ORIGINAL PARTIES                     | 147 |
|----------------------------------------------------------|-----|
| SCHEDULE      2 CONDITIONS PRECEDENT                     | 149 |
| SCHEDULE      3 UTILISATION REQUEST                      | 156 |
| SCHEDULE      4 MANDATORY COST FORMULA                   | 157 |
| SCHEDULE      5 FORM OF TRANSFER CERTIFICATE             | 160 |
| SCHEDULE      6 FORM OF ASSIGNMENT AGREEMENT             | 163 |
| SCHEDULE      7 FORM OF ACCESSION DEED                   | 166 |
| SCHEDULE      8 FORM OF COMPLIANCE CERTIFICATE           | 168 |
| SCHEDULE      9 LMA FORM OF CONFIDENTIALITY UNDERTAKING  | 169 |
| SCHEDULE 10      TIMETABLES                              | 173 |
| SCHEDULE      11 GROUP STRUCTURE CHART                   | 174 |
| SCHEDULE      12 EXISTING SECURITY                       | 175 |
| SCHEDULE      13 SUPPLEMENTARY SECURITY AGENT PROVISIONS | 176 |

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| (1) | CET 21 SPOL. S R.O. (the      “Borrower”); |
|-----|--------------------------------------------------------|

| (2) | THE COMPANIES listed in      Part I of Schedule 1 (The Original Parties)      as original guarantors (the “Original      Guarantors”); |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | ERSTE GROUP BANK AG as      mandated lead arranger (the “Arranger”); |
|-----|----------------------------------------------------------------------------------|

| (4) | THE FINANCIAL INSTITUTIONS      listed in Part II of Schedule 1 (The Original Parties)      as lenders (the “Original      Lenders”); |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | ČESKÁ      SPOŘITELNA, A.S. as agent for the Finance Parties (the “Facility Agent”);      and |
|-----|--------------------------------------------------------------------------------------------------------------------------|

| (6) | ČESKÁ      SPOŘITELNA, A.S. as security agent for the Secured Parties      (the “Security      Agent”). |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

| 1. | DEFINITIONS      AND INTERPRETATION |
|----|-------------------------------------|

| 1.1 | Definitions |
|-----|-------------|

|   | (a) | a      bank or financial institution which has a rating for its long-term      unsecured and non credit-enhanced debt obligations of A- or higher by      Standard & Poor’s Rating Services or F1 or higher by Fitch Ratings Ltd      or P-1 or higher by Moody’s Investor Services Limited or a comparable      rating from an internationally-recognised credit rating agency;      or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      other bank or financial institution approved by the Facility      Agent. |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (a) | in      the Czech Republic, in the case of theBorrower; |
|--------|-----|---------------------------------------------------------|

|   | (b) | in      the Slovak Republic, in the case of each Slovak  Obligor; |
|--------|-----|-------------------------------------------------------------------|

|   | (c) | in      the Netherlands, in the case of each Dutch Obligor;  or |
|--------|-----|-----------------------------------------------------------------|

|   | (d) | in      the United States of America, in the case of the  Parent, |
|--------|-----|-------------------------------------------------------------------|

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|   | (a) | the      amount of its participation in any outstanding Loans;  and |
|--------|-----|---------------------------------------------------------------------|

----

|   | (b) | in      relation to any proposed Loan, the amount of its participation in any      other Loans that are due to be made on or before the proposed Utilisation      Date. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      person or group of persons acting in concert, in each case other than one      or more Permitted Borrower Holders, gains direct or indirect control of      the Borrower; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      sale, lease, licence, transfer, conveyance, loan or other disposal (other      than by way of amalgamation, merger or consolidation) by the Borrower      (whether by a voluntary or involuntary single transaction or series of      transactions), of all or substantially all of the assets of the Borrower;      or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      Borrower ceases to control (directly or indirectly) CME Slovak Holdings      B.V. or Markiza; |
|--------|-----|--------------------------------------------------------------------------------------------------------|

|   | (a) | “control” of the      Borrower, Markiza or CME Slovak Holdings B.V., as applicable,      means: |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (i) | the      power (whether by way of ownership of shares, proxy, contract, agency or      otherwise) to: |
|--------|-----|-------------------------------------------------------------------------------------------------------|

|   | (A) | cast,      or control the casting of, more than 662⁄3 per cent. of the maximum number      of votes that might be cast at a general meeting of the Borrower, Markiza      or CME Slovak Holdings B.V., asapplicable; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | appoint      or remove all, or the majority, of the statutory executives (jednatelé) of the      Borrower or Markiza or directors of CME Slovak Holdings B.V., as      applicable; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | give      directions with respect to the operating and financial policies of the      Borrower, Markiza or CME Slovak Holdings B.V., as applicable, with which      the statutory executives (jednatelé) of the      Borrower or Markiza or directors of CME Slovak Holdings B.V., as      applicable, are obliged to comply;and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      holding beneficially of ownership interest (or other form of      participation) representing more than 662⁄3 per cent. of the registered      voting capital of the Borrower, Markiza or CME Slovak Holdings B.V., as      applicable; and |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b)  | “acting in concert”      means, a group of persons who, pursuant to an agreement or understanding      (whether formal or informal), actively co-operate, through the acquisition      directly or indirectly of the ownership interest (or other form of      participation) in the Borrower or CME Slovak Holdings B.V., as applicable,      by any of them, either directly or indirectly, to obtain or consolidate      control of the Borrower or CME Slovak Holdings B.V., as      applicable. |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | the      interest which a Lender should have received for the period from the date      of receipt of all or any part of its participation in a Loan or Unpaid Sum      to the last day of the current Interest Period in respect of that Loan or      Unpaid Sum, had the principal amount or Unpaid Sum received been paid on      the last day of that InterestPeriod; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      amount which that Lender would be able to obtain by placing an amount      equal to the principal amount or Unpaid Sum received by it on deposit with      a leading bank in the Prague interbank market for a period starting on the      Business Day following receipt or recovery and ending on the last day of      the current Interest Period. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | License      no. T/41, dated August 7, 1995 (Markiza analogue, satellite, cable and      digital pilot); and |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (b) | License      no. 001/1993, file no. R/060/93, dated February 9, 1993 (NOVA      terrestrial). |
|--------|-----|-----------------------------------------------------------------------------------------------|

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|   | (a) | that      cash is repayable on demand; |
|--------|-----|----------------------------------------|

|   | (b) | repayment      of that cash is not contingent on the prior discharge of any other      indebtedness of any member of the Group or of any other person whatsoever      or on the satisfaction of any othercondition; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | there      is no Security over that cash except for Transaction Security or any      Permitted Security constituted by a netting or set-off arrangement entered      into by the Obligors in the ordinary course of their banking arrangements;      and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      cash is freely and (except as mentioned in paragraph (a) above)      immediately available to be applied in repayment or prepayment of the      Facility. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | certificates of deposit or time deposits maturing within one year      after the relevant date of calculation and overnight deposits in each case      issued by or with an Acceptable Bank; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      investment in marketable debt obligations issued or guaranteed by the      government of the United States of America, the United Kingdom, any member      state of the European Economic Area or any Participating Member State or      by an instrumentality or agency of any of them having an equivalent credit      rating, maturing within one year after the relevant date of calculation      and not convertible or exchangeable to any other  security; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | commercial      paper not convertible or exchangeable to any other    security: |
|--------|-----|---------------------------------------------------------------------------------|

|   | (i) | for      which a recognised trading marketexists; |
|--------|-----|---------------------------------------------------|

|   | (ii) | issued      by an issuer incorporated in the United States of America, the United      Kingdom, any member state of the European Economic Area or any      Participating Member State; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | which      matures within one year after the relevant date of calculation;      and |
|--------|-------|-------------------------------------------------------------------------------------|

|   | (iv) | which      has a credit rating of either A-1 or higher by Standard & Poor’s      Rating Services or F1 or higher by Fitch Ratings Ltd or P-1 or higher by      Moody’s Investor Services Limited, or, if no rating is available in      respect of the commercial paper, the issuer of which has, in respect of      its long-term unsecured and non-credit enhanced debt obligations, an      equivalent rating; |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      investment in money market funds which (i) have a credit rating of      either A-1 or higher by Standard & Poor’s Rating Services or F1 or      higher by Fitch Ratings Ltd or P-1 or higher by Moody’s Investor Services      Limited, (ii) which invest substantially all their assets in      securities of the types described in paragraphs (a) to (c) above and      (iii) can be turned into cash on not more than 30 days’ notice;      or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (e) | any      other debt security approved by the Majority  Lenders, |
|--------|-----|-----------------------------------------------------------------|

|   | “Change of Control” means      the occurrence of any of the followingevents: |
|--------|------------------------------------------------------------------------------------------|

|   | (a) | a      Borrower Change of Control; or |
|--------|-----|---------------------------------------|

|   | (b) | a      Parent Change of Control. |
|--------|-----|----------------------------------|

|   | (a) | any      “person” or “group” of related persons, other than one or more Permitted      Borrower Holders, is or becomes the beneficial owner, directly or      indirectly, of more than 35% of the total voting power of the Voting Stock      of the Parent and the Permitted Borrower Holders beneficially own,      directly or indirectly, in the aggregate a lesser percentage of the total      voting power of the Voting Stock of the Parent than such person or      group; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      sale, lease, transfer, conveyance or other disposition (other than by way      of amalgamation, merger or consolidation), in one or a series of related      transactions, of all or substantially all of the assets of the Parent and      the Restricted Subsidiaries taken as a whole to any “person” other than      the Permitted Borrower Holder; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      first day on which a majority of the members of the Board of Directors are      not Continuing Directors; or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      adoption by the shareholders of the Parent of a plan relating to the      liquidation or dissolution of theParent. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

|   | For      purposes of this definition: |
|--------|---------------------------------------|

|   | (a) | “person” and “group” have the meanings      they have in Sections 13(d) and 14(d) of the U.S. Exchange      Act; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | “beneficialowner” is used as      defined in Rules 13d-3 and 13d-5 under the U.S. Exchange Act, except that      a person shall be deemed to have “beneficial ownership” of all shares that      such person has the right to acquire, whether such right is exercisable      immediately or only after the passage oftime; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (c) | a      person will be deemed to beneficially own any Voting Stock of an entity      held by a parent entity, if such person is the beneficial owner, directly      or indirectly, of more than 35% of the voting power of the Voting Stock of      such parent entity and the Permitted Borrower Holders beneficially own,      directly or indirectly, in the aggregate a lesser percentage of the voting      power of the Voting Stock of such parententity; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | a      “ContinuingDirector” means any      member of the Board of Directors who was a member of such Board of      Directors on 17 September 2009 or was nominated for election or was      elected to such Board of Directors with the approval of the majority of      Continuing Directors who were members of such Board of Directors at the      time of such nomination orelection; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | “BoardofDirectors” means the      board of directors of the Parent or any committee thereof duly authorized      to act on behalf of such board; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | “VotingStock” of a person means      all classes of Capital Stock of such person then outstanding and normally      entitled to vote in the election of members of the board of directors or a      management board, directors or persons acting in a similar capacity on      similar corporate bodies; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | “CapitalStock” of a person means      any and all shares, interests, rights to purchase, warrants, options,      participations or other equivalents of or interests in (however      designated) equity of such corporation (including any preferred stock but      excluding any debt securities convertible into such equity of such      corporation; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | “UnrestrictedSubsidiary” means at any      time: |
|--------|-----|--------------------------------------------------------------|

|   | (i) | any      of International Media Services Ltd., CME Ukraine Holding GmbH, Innova      Film GmbH, CME Cyprus Holding Ltd., Grizard Investments Limited, Grintwood      Investments Limited, TV Media Planet Ltd., 1 + 1 Production, Studio 1+1      LLC, Ukrainian Media Services LLC, Ukrpromtorg-2003 LLC, Gravis-Kino LLC,      TV Stimul LLC, TOR LLC, ZHYSA LLC, Top Tone Media S.A., Zopal S.A., PRO BG      MEDIA EOOD, LG Consult EOOD, Top Tone Media Bulgaria EOOD, Ring TV EAD and      CME Development Financing B.V.; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      Subsidiary of any of the persons listed in (i) above;  and |
|--------|------|---------------------------------------------------------------------|

|   | (iii) | any      Subsidiary of the Parent which is designated by the Board of Directors an      “Unrestricted Subsidiary”, provided that such designation by the Board of      Directors be evidenced by the Borrower (or Parent) by filing (within 5      days from the filing of such documents to the Trustee) with the Facility      Agent: |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (x) | either      a copy of the resolution of the Board of Directors or a true and correct      extract of the resolution of the Board of Directors being filed with the      Trustee and giving effect to such designation;  and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (y) | a      copy of the certificate signed by the Parent’s two authorized officers      being filed with the Trustee and certifying that such designation complies      with the conditions set out in (A) through (F)  below; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (A) | such      person is at such time a Subsidiary of the  Parent; |
|--------|-----|---------------------------------------------------------------|

|   | (B) | neither      such person nor any of its Subsidiaries owns at such time any Capital      Stock or Indebtedness of or have any investment in, or own or hold any      Security on any property of, any other Subsidiary of the Parent which is      not a Subsidiary of such person or otherwise an Unrestricted      Subsidiary; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | all      the Indebtedness of such person and its Subsidiaries shall, at the date of      designation, and will at all times thereafter, consist of Non-Recourse      Debt; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (D) | such      person, either alone or in the aggregate with all other Unrestricted      Subsidiaries, does not operate, directly or indirectly, all or      substantially all of the business of the Parent and its      Subsidiaries; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (E) | such      person is a person with respect to which neither the Parent nor any of its      Restricted Subsidiaries has any direct or indirect    obligation: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (x) | to      subscribe for additional Capital Stock of such person;  or |
|--------|-----|--------------------------------------------------------------------|

|   | (y) | to      maintain or preserve such person’s financial condition or to cause such      person to achieve any specified levels of operating results;      and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (F) | in      relation to any person referred to under paragraph (iii), on the date such      person is designated an Unrestricted Subsidiary by the Board of Directors,      such person is not a party to any agreement, contract, arrangement or      understanding with the Parent or any Restricted Subsidiary with terms      substantially less favorable to the Parent than those that might have been      obtained from persons who are not Affiliates of the  Parent; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (x) | either      a copy of the resolution of the Board of Directors or a true and correct      extract of the resolution of the Board of Diretors giving effect to such      redesignation; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (y) | a      copy of the certificate signed by the Parent’s two authorized officers      certifying that: |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

|   | (i) | no      default or event of default shall have occurred under the Parent 2009      Indenture and be continuing or would occur as a consequence of such      redesignation; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      Parent could incur at least €1.00 of additional Indebtedness under Section      4.3(a) of the Parent 2009 Indenture on a pro forma basis taking      into account such redesignation; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | “Restricted Subsidiary”      means at any time any Subsidiary of the Parent other than an Unrestricted      Subsidiary; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | “Non-Recourse Debt” means      Indebtedness: |
|--------|-----|----------------------------------------------------------|

|   | (i) | as      to which neither the Parent nor any Restricted  Subsidiary: |
|--------|-----|---------------------------------------------------------------------|

|   | (A) | provides      any guarantee or credit support of any kind (including any undertaking,      guarantee, indemnity, agreement or instrument that would constitute      Indebtedness); or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | is      directly or indirectly liable (as a guarantor or otherwise);      and |
|--------|-----|-------------------------------------------------------------------------------|

|   | (ii) | no      default with respect to which (including any rights that the holders      thereof may have to take enforcement action against an Unrestricted      Subsidiary) would permit (upon notice, lapse of time or both) any holder      of any other Indebtedness of the Parent or any Restricted Subsidiary to      declare a default under such other Indebtedness or cause the payment      thereof to be accelerated or payable prior to its stated      maturity. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | “Indebtedness” means,      with respect to any person on any date of determination (without      duplication): |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      principal of and premium (if any) in respect of indebtedness of such      person for borrowed money; |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      principal of and premium (if any) in respect of obligations of such person      evidenced by bonds, debentures, notes or other similar      instruments; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      principal component of all obligations of such person in respect of      letters of credit, bankers’ acceptances or other similar instruments      (including reimbursement obligations with respect thereto except to the      extent such reimbursement obligation relates to a trade payable and such      obligation is satisfied within 30 days of incurrence of relevant      Indebtedness); |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (iv) | the      principal component of all obligations of such person to pay the deferred      and unpaid purchase price of property (except trade payables), which      purchase price is due more than six months after the date of placing such      property in service or taking delivery and title  thereto; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | Capitalized      Lease Obligations and all Attributable Indebtedness of such      person; |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | (vi) | the      principal component or liquidation preference of all obligations of such      person with respect to the redemption, repayment or other repurchase of      any Disqualified Stock or, with respect to any Subsidiary, any preferred      stock (but excluding, in each case, any accrued  dividends); |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | the      principal component of all Indebtedness of other persons secured by a      Security on any asset of such person, whether or not such Indebtedness is      assumed by such person; provided, however, that the amount of such      Indebtedness will be the lesser of (a) the fair market value of such asset      at such date of determination and (b) the amount of such Indebtedness of      such other persons; |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | the      principal component of Indebtedness of other persons to the extent      Guaranteed by such person; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------|

|   | (ix) | to      the extent not otherwise included in this definition, net obligations of      such Person under Treasury Transactions (the amount of any such      obligations to be equal at any time to the termination value of such      agreement or arrangement giving rise to such obligation that would be      payable by such person at suchtime). |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   | The      amount of Indebtedness of any Person at any date will be the outstanding      balance at such date of all unconditional obligations as described above      and the maximum liability, upon the occurrence of the contingency giving      rise to the obligation, of any contingent obligations at such      date. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   | In      addition, “Indebtedness” of any      person shall include Indebtedness described in the preceding paragraph      that would not appear as a liability on the balance sheet of such person      if: |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | such      Indebtedness is the obligation of a partnership or Joint Venture that is      not a Restricted Subsidiary; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (ii) | such      person or a Restricted Subsidiary of such person is a general partner of      the Joint Venture (a “General Partner”);      and |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | there      is recourse, by contract or operation of law, with respect to the payment      of such Indebtedness to property or assets of such person or a Restricted      Subsidiary of such person; and then such Indebtedness shall be included in      an amount not to exceed: |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (A) | the      lesser of (x) the net assets of the General Partner and (y) the amount of      such obligations to the extent that there is recourse, by contract or      operation of law, to the property or assets of such person or a Restricted      Subsidiary of such person; or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | if      less than the amount determined pursuant to clause (A) immediately above,      the actual amount of such Indebtedness that is recourse to such person or      a Restricted Subsidiary of such person, if the Indebtedness is evidenced      by a writing and is for a determinable amount and the related interest      expense shall be included in Consolidated Interest Expense to the extent      actually paid by the Parent or its Restricted  Subsidiaries. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | “Stated Maturity” means,      with respect to any security, the date specified in such security as the      fixed date on which the payment of principal of such security is due and      payable, including pursuant to any mandatory redemption provision, but      shall not include any contingent obligations to repay, redeem or      repurchase any such principal prior to the date originally scheduled for      the payment thereof. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (m) | “Capitalized Lease      Obligations” means an obligation that is required to be classified      and accounted for as a capitalized lease for financial reporting purposes      in accordance with the Accounting Principles, and the amount of      Indebtedness represented by such obligation will be the capitalized amount      of such obligation at the time any determination thereof is to be made as      determined in accordance with the Accounting Principles, and the Stated      Maturity thereof will be the date of the last payment of rent or any other      amount due under such lease prior to the first date such lease may be      terminated without penalty. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (n) | “Sale/Leaseback      Transaction” means an arrangement relating to property now owned or      hereafter acquired whereby the Parent or a Restricted Subsidiary transfers      such property to a person and the Parent or a Restricted Subsidiary leases      it from such person. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (o) | “Attributable Indebtedness” in      respect of a Sale/Leaseback Transaction means, as at the time of      determination, the present value (discounted at the interest rate borne by      the Parent Fixed Rate Notes, compounded semi-annually) of the total      obligations of the lessee for rental payments during the remaining term of      the lease included in such Sale/Leaseback Transaction (including any      period for which such lease has beenextended). |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (p) | “Guarantee” means any      obligation, contingent or otherwise, of any person directly or indirectly      guaranteeing any Indebtedness of any other person and any obligation,      direct or indirect, contingent or otherwise, of such    person: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      purchase or pay (or advance or supply funds for the purchase or payment      of) such Indebtedness of such other person (whether arising by virtue of      partnership arrangements, or by agreement to keep-well, to purchase      assets, goods, securities or services, to take-or-pay, or to maintain      financial statement conditions or otherwise);or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | entered      into for purposes of assuring in any other manner the obligee of such      Indebtedness of the payment thereof or to protect such obligee against      loss in respect thereof (in whole or in part); provided, however, that      the term “Guarantee” will not      include endorsements for collection or deposit in the ordinary course of      business. The term “Guarantee” used as a      verb has a corresponding meaning. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (q) | “Consolidated Interest Expense”      means, for any period, the total interest expense of the Parent and its      consolidated Restricted Subsidiaries, whether paid or accrued, plus, to      the extent not included in such interest  expense: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | interest      expense attributable to Capitalized Lease Obligations and the interest      portion of rent expense associated with Attributable Indebtedness in      respect of the relevant lease giving rise thereto, determined as if such      lease were a capitalized lease in accordance with GAAP and the interest      component of any deferred paymentobligations; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | amortization      of debt discount and debt issuancecost; |
|--------|------|-----------------------------------------------------------|

|   | (iii) | non-cash      interest expense; |
|--------|-------|---------------------------------|

|   | (iv) | commissions,      discounts and other fees and charges owed with respect to letters of      credit and bankers’ acceptancefinancing; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | interest      actually paid by the Issuer or any such Restricted Subsidiary under any      Guarantee of Indebtedness or other obligation of any other      person; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | net      costs associated with the obligations of such person in respect of any      Treasury Transactions (including amortization of  fees); |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | the      consolidated interest expense of such person and its Restricted      Subsidiaries that was capitalized during such  period; |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | all      dividends paid or payable in cash, cash equivalents or Indebtedness or      accrued during such period on any series of Disqualified Stock of such      Person or on preferred Stock of its Restricted Subsidiaries payable to a      party other than the Parent or a Restricted Subsidiary;  and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ix) | the      cash contributions to any employee stock ownership plan or similar trust      to the extent such contributions are used by such plan or trust to pay      interest or fees to any Person (other than the Parent) in connection with      Indebtedness incurred by such plan or trust; provided, however, that there      will be excluded therefrom any such interest expense of any Unrestricted      Subsidiary to the extent the related Indebtedness is not Guaranteed or      paid by the Parent or any RestrictedSubsidiary. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (r) | “Disqualified Stock” means, with      respect to any person, any Capital Stock of such Person which by its terms      (or by the terms of any security into which it is convertible or for which      it is exchangeable) or upon the happening of any  event: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | matures      or is mandatorily redeemable pursuant to a sinking fund obligation or      otherwise; |
|--------|-----|----------------------------------------------------------------------------------------------------|

|   | (ii) | is      convertible or exchangeable for Indebtedness or Disqualified Stock      (excluding Capital Stock which is convertible or exchangeable solely at      the option of the Parent or a Restricted Subsidiary);  or |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | is      redeemable at the option of the holder of the Capital Stock thereof, in      whole or in part, |
|--------|-------|--------------------------------------------------------------------------------------------------------|

|   | (s) | “Trustee” means The Bank      of New York Mellon, acting through its London Branch, or such other person      for the time being appointed as the “Trustee” under the Parent 2009      Indenture. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | “Rating Agency”      means  Moody’s or S&P and if Moody’s or S&P shall not      make a rating of the Parent Notes publicly available, an internationally      recognized securities rating agency or agencies, as the case may be, which      shall be substituted for Moody’s or S&P or each of them as the case      may be; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | “Rating Date” means the      date which is the day prior to the initial public announcement by the      Parent or the proposed acquirer that (i) the acquirer has entered into one      or more binding agreements with the Parent and/or shareholders of the      Parent that would give rise to a CME Change of Control or (ii) the      proposed acquirer has commenced an offer to acquire outstanding Voting      Stock of the Parent. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in      relation to an Original Lender, the amount in CZK set opposite its name      under the heading “Commitment” in Part II of Schedule 1 (The Original Parties)      and the amount of any other Commitment transferred to it under this      Agreement; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | in      relation to an Additional Lender, the amount in CZK indicated as its      Commitment in the relevant Accession Deed;and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | in      relation to any other Lender, the amount in CZK of any Commitment      transferred to it under thisAgreement, |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      member of the Parent Group or any of its advisers;  or |
|--------|-----|-----------------------------------------------------------------|

|   | (b) | another      Finance Party, if the information was obtained by that Finance Party      directly or indirectly from any member of the Parent Group or any of its      advisers, |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | is      or becomes public information other than as a direct or indirect result of      any breach by that Finance Party of Clause 39 (Confidentiality); |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | is      identified in writing at the time of delivery as non-confidential by any      member of the Parent Group or any of its advisers;  or |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | is      known by that Finance Party before the date the information is disclosed      to it in accordance with paragraphs (a) or (b) above or is lawfully      obtained by that Finance Party after that date, from a source which is, as      far as that Finance Party is aware, unconnected with the Parent Group and      which, in either case, as far as that Finance Party is aware, has not been      obtained in breach of, and is not otherwise subject to, any obligation of      confidentiality. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | purchases      by way of assignment or transfer; |
|--------|-----|--------------------------------------------------|

|   | (b) | enters      into any sub-participation in respect of;or |
|--------|-----|---------------------------------------------------------|

|   | (c) | enters      into any other agreement or arrangement having an economic effect      substantially similar to a sub-participation in respect  of, |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | which      has failed to make its participation in a Loan available or has notified      the Facility Agent that it will not make its participation in a Loan      available by the Utilisation Date of that Loan in accordance with      Clause 5.4 (Lenders’      participation); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | which      has otherwise rescinded or repudiated a Finance Document;    or |
|--------|-----|----------------------------------------------------------------------------|

|   | (c) | with      respect to which an Insolvency Event has occurred and is      continuing, |
|--------|-----|-------------------------------------------------------------------------------------|

|   | (i) | its      failure to pay is caused by: |
|--------|-----|---------------------------------------|

|   | (A) | administrative      or technical error; or |
|--------|-----|--------------------------------------------|

|   | (B) | a      Disruption Event; and |
|--------|-----|------------------------------|

|   | payment      is made within 3 Business Days of its due date;  or |
|--------|------------------------------------------------------------------|

|   | (ii) | the      Lender is disputing in good faith whether it is contractually obliged to      make the payment in question. |
|--------|------|----------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | a      material disruption to those payment or communications systems or to those      financial markets which are, in each case, required to operate in order      for payments to be made in connection with the Facility (or otherwise in      order for the transactions contemplated by the Finance Documents to be      carried out) which disruption is not caused by, and is beyond the control      of, any of the Parties; or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      occurrence of any other event which results in a disruption (of a      technical or systems-related nature) to the treasury or payments      operations of a Party preventing that, or any other  Party: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | from      performing its payment obligations under the Finance Documents;      or |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (ii) | from      communicating with other Parties in accordance with the terms of the      Finance Documents, |
|--------|------|--------------------------------------------------------------------------------------------------------|

|   | (a) | air      (including, without limitation, air within natural or man-made structures,      whether above or below ground); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (b) | water      (including, without limitation, territorial, coastal and inland waters,      water under or within land and water in drains and sewers);      and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | land      (including, without limitation, land under  water). |
|--------|-----|---------------------------------------------------------------|

|   | (a) | the      pollution or protection of theEnvironment; |
|--------|-----|-----------------------------------------------------|

----

|   | (b) | the      conditions of the workplace; or |
|--------|-----|------------------------------------------|

|   | (c) | the      generation, handling, storage, use, release or spillage of any substance      which, alone or in combination with any other, is capable of causing harm      to the Environment, including, without limitation, any    waste. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in      respect of a Lender, the office or offices notified by that Lender to the      Facility Agent in writing on or before the date it becomes a Lender (or,      following that date, by not less than five Business Days’ written notice)      as the office or offices through which it will perform its obligations      under this Agreement; or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | in      respect of any other Finance Party, the office in the jurisdiction in      which it is resident for taxpurposes. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      letter dated 3 July 2009 and made among the Arranger, the Borrower, the      Facility Agent and the Security Agent setting out the fees referred to in      Clause 14 (Fees);    and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      agreement setting out fees payable to a Finance Party under any other      Finance Document. |
|--------|-----|-------------------------------------------------------------------------------------------------------|

|  | (a)  | the      definition of “Material AdverseEffect”; |
|--|-----------|--------------------------------------------------------------|

|   | (b) | paragraph (a)      of the definition of “PermittedTransaction”; |
|--------|-----|----------------------------------------------------------------------------------|

|   | (c) | the      definition of “Finance Document”; |
|--------|-----|--------------------------------------------------------|

|   | (d) | paragraph (a)(iv)      of Clause 1.2 (Construction);      and |
|--------|-----|-------------------------------------------------------------------------|

|   | (e) | Clause 25      (Events of      Default) (other than Clause 25.18 (Acceleration)). |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | “Finance Lease” has the      meaning given to it in Clause 23.1 (Financial      definitions). |
|--------|-----------------------------------------------------------------------------------------------------------|

|   | (a) | paragraph (a)(i)      of Clause 1.2 (Construction); |
|--------|-----|---------------------------------------------------------------|

|   | (b) | paragraph (c)      of the definition of Material Adverse Effect;  and |
|--------|-----|----------------------------------------------------------------------------|

|   | (c) | Clause 30      (Conduct of business by      the Finance Parties). |
|--------|-----|------------------------------------------------------------------------|

|   | (a) | moneys      borrowed and debit balances at banks or other financial      institutions; |
|--------|-----|----------------------------------------------------------------------------------------|

----

|   | (b) | any      acceptance under any acceptance credit or bill discounting facility (or      dematerialised equivalent); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      note purchase facility or the issue of bonds (but not Trade Instruments),      notes, debentures, loan stock or any similar  instrument; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (d)  | the      amount of any liability in respect of Finance  Leases; |
|--|-----------|-----------------------------------------------------------------|

|   | (e) | receivables      sold or discounted (other than any receivables to the extent they are sold      on a non-recourse basis and meet any requirement for de-recognition under      the Accounting Principles); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | any      Treasury Transaction (and, when calculating the value of that Treasury      Transaction, only the marked-to-market value (or, if any actual amount is      due as a result of the termination or close-out of that Treasury      Transaction, that amount) shall be taken into  account); |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | any      counter-indemnity obligation in respect of a guarantee, bond, standby or      documentary letter of credit or any other instrument issued by a bank or      financial institution in respect of (i) an underlying liability (but not,      in any case, Trade Instruments) of an entity which is not a member of the      Group which liability would fall within one of the other paragraphs of      this definition or (ii) any liabilities of any member of the Group      relating to any post-retirement benefitscheme; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | any      amount raised by the issue of redeemable shares which are redeemable      (other than at the option of the issuer) before the Termination Date or      are otherwise classified as borrowings under the Accounting      Principles); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      amount of any liability under an advance or deferred purchase agreement if      (i) one of the primary reasons behind entering into the agreement is      to raise finance or to finance the acquisition or construction of the      asset or service in question or (ii) the agreement is in respect of      the supply of assets or services and payment is due more than 180 days      after the date of supply; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | any      amount raised under any other transaction (including any forward sale or      purchase, sale and sale back or sale and leaseback agreement) having the      commercial effect of a borrowing or otherwise classified as borrowings      under the Accounting Principles;and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | (without      double counting) the amount of any liability in respect of any guarantee      for any of the items referred to in paragraphs (a) to (j)      above. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | it      has failed to make (or has notified a Party that it will not make) a      payment required to be made by it under the Finance Documents by the due      date for payment; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Facility Agent otherwise rescinds or repudiates a Finance      Document; |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (c) | (if      the Facility Agent is also a Lender) it is a Defaulting Lender under      paragraph (a) or (b) of the definition of “Defaulting Lender”;      or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | an      Insolvency Event has occurred and is continuing with respect to the      Facility Agent; |
|--------|-----|--------------------------------------------------------------------------------------------------|

|   | (i) | its      failure to pay is caused by: |
|--------|-----|---------------------------------------|

|   | (A) | administrative      or technical error; or |
|--------|-----|--------------------------------------------|

|   | (B) | a      Disruption Event; and |
|--------|-----|------------------------------|

|   | (ii) | the      Facility Agent is disputing in good faith whether it is contractually      obliged to make the payment inquestion. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | is      dissolved (other than pursuant to a consolidation, amalgamation or      merger); |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (b) | becomes      insolvent or is unable to pay its debts or fails or admits in writing its      inability generally to pay its debts as they become  due; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | makes      a general assignment, arrangement or composition with or for the benefit      of its creditors; |
|--------|-----|------------------------------------------------------------------------------------------------------------|

|   | (d) | institutes      or has instituted against it, by a regulator, supervisor or any similar      official with primary insolvency, rehabilitative or regulatory      jurisdiction over it in the jurisdiction of its incorporation or      organisation or the jurisdiction of its head or home office, a proceeding      seeking a judgment of insolvency or bankruptcy or any other relief under      any bankruptcy or insolvency law or other similar law affecting creditors’      rights, or a petition is presented for its winding-up or liquidation by it      or such regulator, supervisor or similar  official; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | has      instituted against it a proceeding seeking a judgment of insolvency or      bankruptcy or any other relief under any bankruptcy or insolvency law or      other similar law affecting creditors’ rights, or a petition is presented      for its winding-up or liquidation, and, in the case of any such proceeding      or petition instituted or presented against it, such proceeding or      petition is instituted or presented by a person or entity not described in      paragraph (d) above and: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | results      in a judgment of insolvency or bankruptcy or the entry of an order for      relief or the making of an order for its winding-up or liquidation;      or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | is      not dismissed, discharged, stayed or restrained in each case within      30 days of the institution or presentation  thereof; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | has      exercised in respect of it one or more of the stabilisation powers      pursuant to Part 1 of the Banking Act 2009 and/or has instituted      against it a bank insolvency proceeding pursuant to Part 2 of the      Banking Act 2009 or a bank administration proceeding pursuant to      Part 3 of the Banking Act2009; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (g) | has      a resolution passed for its winding-up, official management or liquidation      (other than pursuant to a consolidation, amalgamation or      merger); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | seeks      or becomes subject to the appointment of an administrator, provisional      liquidator, conservator, receiver, trustee, custodian or other similar      official for it or for all or substantially all its  assets; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | has      a secured party take possession of all or substantially all its assets or      has a distress, execution, attachment, sequestration or other legal      process levied, enforced or sued on or against all or substantially all      its assets and such secured party maintains possession, or any such      process is not dismissed, discharged, stayed or restrained, in each case      within 30 days thereafter; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | causes      or is subject to any event with respect to it which, under the applicable      laws of the respective jurisdiction, has an analogous effect to any of the      events specified in paragraphs (a) to (i) above;  or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | takes      any action in furtherance of, or indicating its consent to, approval of,      or acquiescence in, any of the foregoingacts. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      patents, trade marks, service marks, designs, business names, copyrights,      database rights, design rights, domain names, moral rights, inventions,      know-how and other intellectual property rights and interests (which may      now or in the future subsist), whether registered or unregistered;      and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      benefit of all applications and rights to use such assets of a member of      the Group (which may now or in the future  subsist). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      loan under the CET Loan Agreement; |
|--------|-----|---------------------------------------------|

|   | (b) | the      loan under the Markiza LoanAgreement; |
|--------|-----|------------------------------------------------|

|   | (c) | any      Financial Indebtedness owed by a member of the Group to a member of the      Parent Group; and |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | (d) | any      Financial Indebtedness owed by a member of the Parent Group to a member of      the Group. |
|--------|-----|-----------------------------------------------------------------------------------------------------|

----

|   | (a) | the      principle that equitable remedies may be granted or refused at the      discretion of a court and the limitation of enforcement by laws relating      to insolvency, reorganisation and other laws generally affecting the      rights of creditors; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      time barring of claims under the Limitation Acts, the possibility that an      undertaking to assume liability for or indemnify a person against      non-payment of UK stamp duty may be void and defences of set-off or      counterclaim; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | similar      principles, rights and defences under the laws of any Relevant      Jurisdiction; and |
|--------|-----|----------------------------------------------------------------------------------------------------|

|   | (d) | any      other matters which are set out as qualifications or reservations as to      matters of law of general application in the Legal    Opinions. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      Original Lender; |
|--------|-----|---------------------------|

|   | (b) | any      bank, financial institution, trust, fund or other entity which has become      a Party as a Lender in accordance with Clause 7 (Extension of Initial      Termination Date) or Clause 26 (Changes to the      Lenders); and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      Additional Lender, |
|--------|-----|-----------------------------|

----

|   | (a) | the      business, operations, property or condition (financial or otherwise) of      the Borrower, the Group and/or the Parent Group taken as a      whole; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      ability of an Obligor or the Obligors taken as a whole to perform their      obligations under the FinanceDocuments; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      validity or enforceability (subject to the Legal  Reservations)      of any Finance Document or of any of the rights or remedies of any Finance      Party under any of the Finance Documents;or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      effectiveness or ranking (subject to the Legal  Reservations) of      any Transaction Security granted or purporting to be granted pursuant to      any of the Finance Documents. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | (subject      to paragraph (c) below) if the numerically corresponding day is not a      Business Day, that period shall end on the next Business Day in that      calendar month in which that period is to end if there is one, or if there      is not, on the immediately preceding Business  Day; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if      there is no numerically corresponding day in the calendar month in which      that period is to end, that period shall end on the last Business Day in      that calendar month; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | if      an Interest Period begins on the last Business Day of a calendar month,      that Interest Period shall end on the last Business Day in the calendar      month in which that Interest Period is toend. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in      relation to the Parent and each Key Obligor, audited consolidated or      unconsolidated (whichever is available) financial statements for its      Financial Year ended 31 December, 2008;and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | in      relation to an Additional Guarantor, its audited (if available) financial      statements delivered to the Facility Agent as required by Clause 28      (Changes to the      Obligors). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | “Parent Change of      Control” means the occurrence of the following    events: |
|--------|----------------------------------------------------------------------------------------------|

|   | (a) | a      CME Change of Control; and |
|--------|-----|-----------------------------------|

|   | (b) | a      CME Rating Decline. |
|--------|-----|----------------------------|

----

|   | (a) | the      Parent Fixed Rate Notes; |
|--------|-----|-----------------------------------|

|   | (b) | the      3.50% senior convertible notes due 2013 issued by the Parent;      and |
|--------|-----|---------------------------------------------------------------------------------|

|   | (c) | the      senior floating rate notes due 2014 issued by the  Parent. |
|--------|-----|---------------------------------------------------------------------|

|   | (a) | an      acquisition by a member of the Group of an asset sold, leased, transferred      or otherwise disposed of by another member of the Group in circumstances      constituting a Permitted Disposal pursuant to paragraph (b) or (c) of      the definition thereof; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b)  | an      acquisition of shares or securities pursuant to a Permitted Share      Issue; |
|--|-----------|---------------------------------------------------------------------------------------|

|  | (c)  | the      acquisition of Cash or Cash Equivalent  Investments; |
|--|-----------|---------------------------------------------------------------|

|   | (d) | the      incorporation or formation of a wholly-owned limited liability entity or      the acquisition of (i) 100 per cent. of the voting issued share      capital and economic interests represented by the issued share capital, or      (ii) in relation to the limited liability companies incorporated in the      Czech Republic or the Slovak Republic, ownership interest representing      100 per cent. of the registered capital,  in each      case, on a fully diluted basis, in a limited liability entity with no      prior trading history and no material liabilities, where the aggregate      amount applied in subscribing for or otherwise acquiring shares or      ownership interest in such entities does not exceed CZK 100,000,000 (or      its equivalent in other currencies) in any Financial  Year; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (e) | any      acquisition for cash of (x) the entire business of any person, (y) assets      of any person the market value of which represents at least 662⁄3      per cent. of the market value of all assets of such person, or (z) at      least 662⁄3 per cent. plus one share or more of the voting issued share      capital and economic interests represented by the issued share capital (in      each case, on a fully diluted basis) in a limited liability company      where: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      consideration and any Financial Indebtedness discharged by the purchaser      in connection with such acquisition or series of related acquisitions or      remaining in, and any assumed actual or contingent liability of, the      acquired company (or business) or any of its Subsidiaries at the date      of acquisition (the “Total Purchase Price”)      does not exceed CZK 300,000,000 (or its equivalent in other      currencies) in any Financial Year;and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | no      actual or potential Event of Default has occurred and is continuing at the      time of, or will result from, theacquisition; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | any      acquisition constituting a Permitted Joint Venture;  or |
|--------|-----|------------------------------------------------------------------|

|   | (g) | any      other acquisition to which the Majority Lenders have given their consent      in writing under this Agreement, |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      Permitted Parent Holders; |
|--------|-----|------------------------------------|

|   | (b) | any      Obligor; |
|--------|-----|-------------------|

|   | (c) | each      Subsidiary of the Parent or of a Permitted Parent Holder;      and |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (d) | any      Affiliates of any of the persons referred to in paragraphs (a) to (c)      above. |
|--------|-----|-------------------------------------------------------------------------------------------------|

----

|   | (a) | of stock in trade (including licences for content, formats and other      similar or related rights) or cash made by any member of the Group in the      ordinary course of business of the disposing entity as conducted on the      date of this Agreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | of      any asset by a member of the Group (the “Disposing Company”) to      another member of the Group (the “Acquiring Company”), but      if: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Disposing Company is an Obligor, the Acquiring Company must be or become      an Obligor; |
|--------|-----|----------------------------------------------------------------------------------------------------|

|   | (ii) | the      Disposing Company is a Guarantor, the Acquiring Company (other than the      Borrower) must be a Guarantor guaranteeing at all times an amount no less      than that guaranteed by the DisposingCompany, |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | of      any assets from an Obligor to a member of the Group who is not an Obligor      provided that the aggregate amount transferred from an Obligor to a member      of the Group who is not an Obligor (net of the value of any assets      transferred from such member of the Group who is not an Obligor to such      Obligor in connection with the same transaction or series of transactions)      does not exceed CZK 100,000,000 (or its equivalent in other currencies) in      the Financial Year ended on 31 December 2009 or CZK 200,000,000 (or its      equivalent in other currencies) in any Financial Year (other than the      Financial Year ended on 31 December2009); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | of      assets (other than shares or businesses) in exchange for other assets      comparable or superior as to type, value or  quality; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | of      obsolete or redundant: |
|--------|-----|--------------------------------|

|   | (i) | vehicles; |
|--------|-----|-----------|

|   | (ii) | plant; |
|--------|------|--------|

|   | (iii) | equipment;      or |
|--------|-------|--------------------|

|   | (iv) | other      assets, |
|--------|------|--------------------|

|   | (f) | of      Cash or Cash Equivalent Investments not otherwise prohibited by this      Agreement; |
|--------|-----|----------------------------------------------------------------------------------------------|

|  | (g)  | to      a Permitted Joint Venture that is a Joint Venture    Investment; |
|--|-----------|--------------------------------------------------------------------------|

|   | (h) | of      assets pursuant to a compulsory acquisition by any governmental      authority; |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | (i) | constituted      by a licence of intellectual property rights permitted under      Clause  24.21 (Intellectual      Property); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (j) | arising      as a result of any Permitted Security (but not the enforcement      thereof); |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | (k) | required      under the Finance Documents; |
|--------|-----|--------------------------------------------|

|   | (l) | of      assets for cash where the higher of the book value and net consideration      receivable (when aggregated with the higher of the book value and net      consideration received for any other sale, lease, licence, transfer or      other disposal not allowed under the preceding paragraphs) does not exceed      (i) CZK 100,000,000 (or its equivalent in other currencies) in the      Financial Year ended on 31 December 2009; and (ii) CZK 200,000,000 (or its      equivalent in other currencies) in any Financial Year other than the      Financial Year ended on 31 December 2009 of the  Borrower; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (m) | of      rights related to hedging arrangements provided the requirements of the      Hedging Letter are met; |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (n) | of      receivables: (i) on recourse terms to the extent the same arises in      connection with Permitted Financial Indebtedness; or (ii) pursuant to the      Factoring Facility Agreement; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (o) | any      other sale, lease, licence, transfer or other disposal to which the      Majority Lenders have given their consent in  writing, |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | arising      under the Finance Documents; |
|--------|-----|-------------------------------------------|

|   | (b) | arising      under a foreign exchange transaction for spot or forward delivery entered      into in connection with protection against fluctuation in currency rates      where that foreign exchange exposure arises in the ordinary course of      business of the respective member of the Group as conducted on the date of      this Agreement, but not a foreign exchange transaction solely for      investment or speculative purposes; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | arising      under a Permitted Loan or a Permitted Guarantee or as permitted by Clause      24.25 (Treasury      Transactions); |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | of      any person acquired by any member of the Group after the date of this      Agreement which is incurred under arrangements in existence at the date of      acquisition, but not incurred or increased or having its maturity date      extended in contemplation of, or since, that  acquisition; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (e) | under      finance or capital leases of vehicles, plant, equipment or computers, or      mortgage financings or purchase money obligations with respect to assets      other than shares or other investments, in each case incurred for the      purpose of financing all or any part of the purchase price or cost of      construction or improvements of property used in the business of the      Group, provided      that the aggregate capital value of all such items so leased under      outstanding leases the Group does not exceed CZK 300,000,000 (or its      equivalent in any other currencies) at anytime; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | arising      in respect of workers’ compensation claims, performance, surety and      similar bonds and completion guarantees provided by a member of the Group      in the ordinary course of its business as conducted on the date of this      Agreement; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | arising      from the honouring by a bank or other financial institution of a check,      draft or similar instrument drawn against insufficient funds in the      ordinary course of business of the respective member of the Group as      conducted on the date of this Agreement, provided, however, that      such Financial Indebtedness is extinguished within five Business Days of      its incurrence; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | arising      under the Factoring Facility Agreement or pursuant to paragraph (b) of the      definition of “Permitted Security”; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | refinancing      any Financial Indebtedness otherwise permitted under this definition, so      long as the maximum amount available thereunder shall not be      increased; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | arising      under a loan provided by the Parent or a Restricted Subsidiary to a member      of the Group which is a RestrictedSubsidiary; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | not      permitted by the preceding paragraphs or as a Permitted Transaction and      the outstanding principal amount of which does not exceed      CZK 100,000,000 (or its equivalent in any other currencies) in      aggregate for the Group at any time;and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | any      other Financial Indebtedness to which the Majority Lenders have given      their consent in writing under thisAgreement, |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | the      endorsement of negotiable instruments in the ordinary course of business      of the respective member of the Group as conducted on the date of this      Agreement; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      guarantee, performance or similar bond or other obligation guaranteeing      performance by any member of the Group under any contract (other than a      contract that is or evidences Financial Indebtedness) entered into in the      ordinary course of business of the respective member of the Group as      conducted on the date of thisAgreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (c)  | any      guarantee: |
|--|-----------|---------------------|

|   | (i) | arising      under the Finance Documents; or |
|--------|-----|----------------------------------------------|

|   | (ii) | issued      by a Key Obligor in respect of obligations of any other member of the      Group, provided that the aggregate of guarantees provided in any Financial      Year of the Borrower by the Key Obligors under this subparagraph (ii)      shall not exceed CZK 200,000,000 (or its equivalent in any other      currencies); |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      guarantee given in respect of the netting, or set-off or cash pooling      arrangements permitted pursuant to paragraph (b) of the definition of      “Permitted Security”; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | any      guarantee given by a member of the Group in respect of or to secure      obligations of a Permitted Joint Venture to the extent the maximum      contingent liability thereunder is a Joint Venture    Investment; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | any      guarantee given to any relevant tax authority in respect of excise taxes,      export duties or other such taxes, charges, duties or imposts payable by a      member of the Group in the ordinary course of its business as conducted on      the date of this Agreement; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | any      guarantee given by a member of the Group in respect of or to secure      obligations pursuant to any programming, production, distribution, format      or other intellectual or similar rights or capital equipment or other      assets used in the ordinary course of its business as conducted on the      date of this Agreement and not to exceed CZK 200,000,000 (or its      equivalent in any other currencies) in aggregate for the Group at any      time; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | any      joint and several obligation of Markiza to fund payments to PMT s.r.o.      pursuant to a guarantee agreement between Markiza and PMT s.r.o., dated 23      January 2004; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (i) | any guarantee which constitutes Permitted Financial      Indebtedness; |
|--|-----|------------------------------------------------------------------------|

|   | (j) | any guarantee given in connection with a Permitted Acquisition or a      Permitted Disposal, provided that maximum contingent obligation of any      member of the Group under any such guarantee shall not exceed the net      consideration paid or received in such Permitted Acquisition or Permitted      Disposal; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (k) | any guarantee or reimbursement obligations in respect of any letter      of credit issued by a bank or other financial institution permitted under      the definition of Permitted Financial Indebtedness, provided that the      maximum contingent obligation of any member of the Group under any such      guarantee shall not exceed the maximum contingent obligation of such bank      or such other financial institution under the respective letter of      credit; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (l) | any guarantee not permitted by the preceding paragraphs or as part of      a Permitted Transaction and where the maximum aggregate contingent      liability of all such guarantees under this paragraph (l) (together with      any loans under paragraph (g) of the definition of “Permitted Loan”) do      not exceed CZK 100,000,000 (or its equivalent in any other currencies) in      aggregate for the Group at any time; and |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (m) | any other guarantee to which the Majority Lenders have given their      consent in writing under this Agreement, |
|--|-----|------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      Joint Venture is incorporated, or established, and carries on its      principal business, in the European Union or the United States of      America; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Joint Venture is engaged in a business substantially the same as that      carried on by the Group; |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (c) | in      any Financial Year of the Borrower, the aggregate (the “Joint Venture      Investment”) of: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (i) | all      amounts subscribed for shares in, lent to, or invested in all such Joint      Ventures by the Group; |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      contingent liabilities of the members of the Group under any guarantee      given in respect of the liabilities of any such Joint Venture;      and |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      market value of any assets transferred by the members of the Group to any      such Joint Venture, |
|--------|-------|-------------------------------------------------------------------------------------------------------------|

----

|   | (d) | any      other Joint Venture to which the Majority Lenders have given their consent      in writing under this Agreement, |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      trade credit extended by a member of the Group to its customers on normal      commercial terms and in the ordinary course of its trading      activities; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Financial      Indebtedness which is referred to in the definition of, or otherwise      constitutes, Permitted FinancialIndebtedness; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      loan made for the purposes of enabling an Obligor to meet its payment      obligations under the FinanceDocuments; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

|  | (d) | a loan made by a member of the Group to a Key Obligor or by any      member of the Group which is not an Obligor to another member of the Group      which is not an Obligor; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | a      loan made by the Borrower or Markiza to an employee or director of the      Borrower or Markiza, as applicable, if the amount of that loan when      aggregated with the amount of all loans to employees and directors by the      Borrower and Markiza does not exceed CZK 100,000,000 (or its equivalent in      any other currencies) at any time; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | any      loan which is a Joint Venture Investment permitted by Clause 24.9      (Joint      Ventures); |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (g) | any      loan made by the Borrower or Markiza so long as the aggregate amount of      the Financial Indebtedness under any such loans (together with any      guarantees under paragraph (l) of the definition of Permitted Guarantee)      does not exceed CZK 100,000,000 (or its equivalent in other currencies) at      any time; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | an      Inter-Group Loan or an Intra-Group Loan, in each case disclosed in the      Group Structure Chart; |
|--------|-----|------------------------------------------------------------------------------------------------------------|

|   | (i) | payroll,      travel and similar advances to cover matters that are expected at the time      of such advances ultimately to be treated as expenses for accounting      purposes and that: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | are      so treated; and |
|--------|-----|--------------------------|

----

|   | (ii) | are      made in the ordinary course of business of the respective member of the      Group as conducted on the date of this Agreement and consistent with its      past practices; and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | any      other loan to which the Majority Lenders have given their consent in      writing under this Agreement, |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | (a) | each      beneficial owner of the Parent’s Class B Common Stock on September 17,      2009; |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (b) | family      members of any beneficial holder of the Parent’s Class B Common Stock on      September 17, 2009; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|

|   | (c) | trusts,      the only beneficiaries of which are persons or entities described in (a)      and (b) above; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (d) | partnerships,      corporations, or limited liability companies which are controlled by the      persons or entities described in (a) or (b)  above. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      lien arising by operation of law in the ordinary course of business of a      member of the Group as conducted on the date of this Agreement and not as      a result of any default or omission by a member of the    Group; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      netting, set-off or cash pooling arrangement entered into by a member of      the Group in the ordinary course of its banking arrangements for the      purpose of netting debit and credit balances of the members of the Parent      Group but only so long as: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | such      arrangement does not permit credit balances of the members of the Group      exceeding in aggregate CZK 200,000,000 (or its equivalent in other      currencies) at any one time to be netted or set off against debit balances      of any other person; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | such      arrangement does not give rise to Security or Quasi-Security over the      assets of any member of the Group other than over the credit balances      referred to in sub-paragraph (i) in favour of the cash-pooling      bank; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      Security or Quasi-Security over or affecting any asset acquired (including      by any acquisition by means of a merger or consolidation with or into a      member of the Group) by a member of the Group (whether before or after the      date of this Agreement), if: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | the      Security or Quasi-Security was not created in contemplation of the      acquisition of that asset by that member of the  Group; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      principal amount secured has not been increased in contemplation of or      (otherwise than by capitalisation of interest) since the acquisition of      that asset by that member of the Group;and |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | except to the extent the Security or Quasi-Security is otherwise      permitted under any other paragraphs of this definition of “Permitted      Security”, the Security or Quasi-Security is removed or discharged within      six months of the date of acquisition of suchasset; |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      Security arising under any retention of title, hire purchase or      conditional sale arrangement or arrangements having similar effect in      respect of goods supplied to a member of the Group in the ordinary course      of its business as conducted on the date of this Agreement and on the      supplier’s standard or usual terms and not arising as a result of any      default or omission by a member of theGroup; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | any      Security or Quasi-Security over documents of title and goods as part of a      documentary credit transaction entered into in the ordinary course of      business of the respective member of the Group as conducted on the date of      this Agreement; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | any      Quasi-Security arising as a result of a disposal which is a Permitted      Disposal; |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (g) | any      Security over shares in a Permitted Joint Venture to secure obligations of      a member of the Group in relation to the Joint Venture to the other      shareholders in the Permitted JointVenture; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | any      Security, arising by operation of law in respect of Tax, being contested      in good faith where adequate reserves have been made for the payment of      such Tax and any costs associated with contesting such  Tax; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      Security securing Financial Indebtedness and other obligations incurred      under paragraph (k) of the definition of Permitted Financial Indebtedness,      provided that the book value or independently appraised market value of      the assets which are subject to such Security does not exceed 100% of such      Financial Indebtedness; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | pledges      or deposits by a member of the Group under workmen’s compensation laws,      unemployment insurance laws or similar legislation, or good faith deposits      in connection with bids, tenders, contracts (other than for the payment of      Financial Indebtedness) or leases of real property and/or equipment to      which that member of the Group is a party, or deposits to secure public or      statutory obligations of a member of the Group or deposits of cash or      government obligations to secure surety or appeal bonds to which a member      of the Group is a party, or deposits as security for taxes contested in      good faith or import or customs duties or for the payment of rent, in each      case incurred in the ordinary course of business of the respective member      of the Group as conducted on the date of this  Agreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (k) | in      favour of issuers of surety or performance bonds or letters of credit or      bankers’ acceptances issued pursuant to the request of and for the account      of a member of the Group in the ordinary course of its      business; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | any      Security or Quasi-Security securing the Hedging Agreement so long as the      related Financial Indebtedness is, and is permitted to be under this      Agreement, secured by Security on the same property securing such Hedging      Agreement; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (m) | judgment      Security not giving rise to an Event of Default so long as such Security      of Quasi-Security is adequately bonded and any appropriate legal      proceedings which may have been duly initiated for the review of such      judgment have not been finally terminated or the period within which such      proceedings may be initiated has notexpired; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (n) | any      Security for the purposes of securing the payment of all or a part of the      purchase price of, or finance or capital lease obligations with respect      to, assets or property acquired or constructed in the ordinary course of      business of the respective member of the Group as conducted on the date of      this Agreement; provided      that: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      aggregate principal amount of Financial Indebtedness secured by such      Security or Quasi-Security is otherwise permitted to be incurred under      this Agreement and does not exceed the cost of assets or property so      acquired or constructed; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | such      Security or Quasi-Security are created within 180 days of construction or      acquisition of such assets or property and do not encumber any other      assets or property of any member of the Group other than such assets or      property and assets affixed or appurtenant  thereto; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (o) | any      Security or Quasi-Security existing on the date of this Agreement and set      out in Schedule 12 (Existing      Security); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (p) | any      Security or Quasi-Security over or affecting any asset of any company      which becomes a member of the Group after the date of this Agreement,      where the Security or Quasi-Security is created prior to the date on which      that company becomes a member of the Groupif: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Security or Quasi-Security was not created in contemplation of the      acquisition of that company; |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      principal amount secured has not increased in contemplation of or since      the acquisition of that company;and |
|--------|------|---------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | except to the extent the Security or Quasi-Security is otherwise      permitted under any other paragraphs of this definition of “Permitted      Security”, the Security or Quasi-Security is removed or discharged within      6 months of that company becoming a member of the  Group; |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (q) | any      Security or Quasi-Security securing Permitted Financial Indebtedness      incurred to refinance Financial Indebtedness that was previously so      secured, provided      that any such Security or Quasi-Security is limited to all or part of the      same property or assets (plus improvements, replacement accessions,      proceeds or dividends or distributions in respect thereof) that secured      (or, under the written arrangements under which the original Security or      Quasi-Security arose, could secure) the Financial Indebtedness being      refinanced or is in respect of property that is the security for a      Permitted Security hereunder; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (r) | any      Security or Quasi-Security of a lessor under any finance or capital lease      obligations or operating lease entered into in the ordinary course of      business of the respective member of the Group as conducted on the date of      this Agreement; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (s) | any      Transaction Security; |
|--------|-----|--------------------------------|

|   | (t) | any      other Security or Quasi-Security not permitted by the preceding paragraphs      or as a Permitted Transaction and the outstanding principal amount secured      thereunder does not exceed CZK 100,000,000 (or its equivalent in any      other currencies) in aggregate for the Group at any time;    and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (u) | any      Security to which the Majority Lenders have given their consent in writing      under this Agreement, |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

|   | (a) | any      disposal required, Financial Indebtedness incurred, guarantee, indemnity      or Security or Quasi-Security given, or other transaction arising, under      the Finance Documents; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      solvent liquidation, winding-up or reorganisation of any member of the      Group which is not an Obligor so long as any payments or assets      distributed as a result of such liquidation, winding-up or reorganisation      are distributed to other members of theGroup; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | transactions      (other than (i) any sale, lease, license, transfer or other disposal      and (ii) the granting or creation of Security or the incurring or      permitting to subsist of Financial Indebtedness) conducted in the ordinary      course of business of the respective member of the Group as conducted on      the date of this Agreement on arm’s length  terms; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      solvent amalgamation, demerger, merger, consolidation, corporate      reconstruction or reorganisation (by way of voluntary arrangement, scheme      of arrangement or otherwise) as between one member of the Group and      another member of the Group and in the case of any such transaction      involving an Obligor (which is a member of the Group), where such Obligor      remains as the surviving entity; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the      funding obligations of Markiza pursuant to an agreement on data provision      between Markiza and PMT s.r.o., dated 15 August  2004; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (f) | (i) the payment of dividends or the making of any other distributions      on the capital stock of any Key Obligor or CME Slovak Holdings N.V. or the      payment of any indebtedness or other obligations owed by any Key Obligor      or CME Slovak Holdings N.V. to the Parent or any Restricted Subsidiary (as      defined in the definition of “CME Change of Control”); or (ii) the making      by any Key Obligor, CME Slovak Holdings N.V. or any other member of the      Group which becomes a Restricted Subsidiary of any loans or advances to      the Parent or any Restricted Subsidiary; or (iii) the transfer of any of      property or assets of any Key Obligor, CME Slovak Holdings N.V. or any      member of the Group which becomes a Restricted Subsidiary to the Parent or      any Restricted Subsidiary subject (in relation to any asset which is, or      is intended to be, the subject of the Transaction Security) to any      restrictions contained in the Transaction Security Documents;  and |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (g) | any transaction to which the Majority Lenders have given their      consent in writing under this Agreement, |
|--|-----|--------------------------------------------------------------------------------------------------------------|

----

|   | (a) | the      offered rate, if any, for CZK and a period comparable to the Interest      Period of that Loan appearing as of the Specified Time on the Quotation      Day on the PRBO page of the Reuters Monitor Money Rates Service;      or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if      no such quotation appears for CZK and such period on the relevant page,      the rate appearing as of the Specified Time on the Quotation Day on any      other page of the Reuters Monitor Money Rates Service displaying such rate      for deposits in CZK for such period and replacing the PRBO page;      or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | if      no such rate is published for CZK and such period by the Reuters Monitor      Money Rates Service as of the Specified Time on the Quotation Day, the      Reference Bank Rate as of the Specified Time on the Quotation Day for such      period, or a period as close as possible to such  period. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | its      jurisdiction of incorporation; |
|--------|-----|-----------------------------------------|

|   | (b) | any      jurisdiction where any material asset subject to or intended to be subject      to the Transaction Security to be created by it is    situated; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      jurisdiction where it conducts a material part of its business;      and |
|--------|-----|-----------------------------------------------------------------------------------|

----

|   | (d) | the      jurisdiction whose laws govern the perfection of any of the Transaction      Security Documents entered into byit. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

|   | (a) | each      date set out in paragraph (a) of Clause 6.1 (Repayment);      or |
|--------|-----|--------------------------------------------------------------------------------------|

|   | (b) | following      the exercise of the Extension Option in accordance with Clause 7 (Extension of Initial      Termination Date) and the extension of the Termination Date      becoming effective in respect of an Extending Lender (or Extending      Lenders) in accordance with paragraph (d) of Clause 7.3 (Notice to Lenders),      each date set out in paragraph (b) of Clause 6.1 (Repayment). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | which      is controlled, directly or indirectly, by the first-mentioned person,      company or corporation; or |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | (b) | which      owns directly or indirectly at least half of the issued share capital or      the ownership or any other equity interests or similar right of ownership;      or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | which      is a subsidiary of another subsidiary of the first-mentioned person,      company or corporation, |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (d) | in      relation to a person incorporated (or established) under Dutch law, a      "dochtermaatschappij"      within the meaning of Section 2:24a of the Dutch Civil Code (regardless      whether the shares or voting rights on the shares in such company are held      directly or indirectly through another "dochtermaatschappij"). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | if      the Extension Option is not exercised in accordance with Clause 7 (Extension of Initial      Termination Date) or the extension of the Termination Date does not      become effective in respect of an Extending Lender (or Extending Lenders)      in accordance with paragraph (d) of Clause 7.3 (Notice to Lenders), the      Initial Termination Date; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if      the Extension Option is exercised in accordance with Clause 7 (Extension of Initial      Termination Date) and the extension of the Termination Date becomes      effective in respect of an Extending Lender (or Extending Lenders) in      accordance with paragraph (d) of Clause 7.3 (Notice to Lenders),      (i) the Extended Termination Date in relation to the Loans (or      relevant parts of the Loans) made by the Extending Lenders and (ii) the      Initial Termination Date in relation to the Loans (or relevant parts of      the Loans) made by Lenders other than the Extending Lenders (if      any). |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      proposed Transfer Date specified in the relevant Assignment Agreement or      Transfer Certificate; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      date on which the Facility Agent executes the relevant Assignment      Agreement or TransferCertificate. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

----

| 1.2 | Construction |
|-----|--------------|

|   | (a) | Unless      a contrary indication appears, a reference in this Agreement or any other      Finance Document to: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (i) | the      “FacilityAgent”, the “Arranger”, any “Finance Party”, any      “Hedge      Counterparty”, any “Lender”, any “Obligor”, any “Party”, any “Secured Party”, the      “Security Agent”      or any other person shall be construed so as to include its successors in      title, permitted assigns and permitted transferees and, in the case of the      Security Agent, any person for the time being appointed as Security Agent      or Security Agents in accordance with the Finance    Documents; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | a      document in “agreed      form” is a document which is previously agreed in writing by or on      behalf of the Borrower and the Facility Agent or, if not so agreed, is in      the form specified by the FacilityAgent; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | “assets” includes present      and future properties, revenues and rights of every      description; |
|--------|-------|------------------------------------------------------------------------------------------------------------------|

|   | (iv) | a      “Finance      Document”, a “Transaction Document” or      any other agreement or instrument is a reference to that Finance Document,      Transaction Document or other agreement or instrument as amended, novated,      supplemented, extended orrestated; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (v) | “guarantee” means (other      than in Clause 20 (Guarantee and      Indemnity)) any guarantee, letter of credit, bond, indemnity or      similar assurance against loss, or any obligation, direct or indirect,      actual or contingent, to purchase or assume any indebtedness of any person      or to make an investment in or loan to any person or to purchase assets of      any person where, in each case, such obligation is assumed in order to      maintain or assist the ability of such person to meet its      indebtedness; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | “indebtedness” includes      any obligation (whether incurred as principal or as surety) for the      payment or repayment of money, whether present or future, actual or      contingent; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | a      “person” includes      any individual, firm, company, corporation, government, state or agency of      a state or any association, trust, joint venture, consortium or      partnership (whether or not having separate legal      personality); |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | a      “regulation”      includes any regulation, rule, official directive, request or guideline      (whether or not having the force of law) of any governmental,      intergovernmental or supranational body, agency, department or of any      regulatory, self-regulatory or other authority or      organisation; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ix) | “shares” issued by the      Borrower or Markiza includes ownership interest or other forms of      participation in the Borrower or Markiza, as  applicable; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (x) | a      provision of law is a reference to that provision as amended or      re-enacted; and |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (xi) | a      time of day is a reference to Praguetime. |
|--------|------|--------------------------------------------------|

|   | (b) | Section,      Clause and Schedule headings are for ease of reference    only. |
|--------|-----|-------------------------------------------------------------------------------|

|   | (c) | Unless      a contrary indication appears, a term used in any other Finance Document      or in any notice given under or in connection with any Finance Document      has the same meaning in that Finance Document or notice as in this      Agreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | A      Default (other than an Event of Default) is “continuing” if it has      not been remedied or waived and an Event of Default is “continuing” if it has      not been remedied or waived. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.3 | Czech      terms |
|-----|------------------|

|   | (a) | a      novation includes privativní novace and      kumulativní      novace; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (b) | a      Security includes zástavní právo, zádržné právo, zajišťovací převod práva, and zajišťovací postoupení      pohledávky; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | a      bankruptcy or insolvency includes insolvenční řízení,      konkurs, reorganizace, and nucená      správa; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | being      bankrupt or insolvent includes being v úpadku, v hrozícím úpadku,      předlužený,      platebně neschopný, v konkurzu, v      reorganizaci, and v nucené      správě; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | an      expropriation, attachment, sequestration, distress, execution or analogous      process includes vyvlastnění,      exekuce and výkon      rozhodnutí; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | winding-up,      dissolution, administration or reorganisation includes likvidace, zrušení s likvidací,      zrušení bez likvidace      bez právního nástupce, insolvenční      řízení,      konkurs, reorganizace and nucená      správa; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | a      receiver, administrator, administrative receiver, compulsory manager or      similar officer includes likvidátor, inslovenční správce (including      předběžný      správce),nucený správce, and      exekutor; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | a      moratorium includes reorganizace and moratorium;      and |
|--------|-----|------------------------------------------------------------------|

|   | (i) | constitutional      documents includes společenská      smlouva,zakladatelská listina,      zakladatelská      smlouva, zřizovací      listina, statut, and stanovy. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.4 | Dutch      terms |
|-----|------------------|

|   | (a) | a      necessary action to authorise where applicable, includes without      limitation: |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (i) | any      action required to comply with the Works Councils Act of the Netherlands      (Wet op de      ondernemingsraden); and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | obtaining      a positive and unconditional advice (advies) from the      competent works council(s); |
|--------|------|-------------------------------------------------------------------------------------------------------|

|   | (b) | gross      negligence means grove      schuld; |
|--------|-----|------------------------------------------------|

|   | (c) | a      security interest includes any mortgage (hypotheek), pledge      (pandrecht),      retention of title arrangement (eigendomsvoorbehoud),      privilege (voorrecht), right of      retention (recht van      retentie), right to reclaim goods (recht vanreclame), and, in      general, any right in rem (beperkte recht),      created for the purpose of granting security (goederenrechtelijk      zekerheidsrecht); |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | wilful      misconduct means opzet; |
|--------|-----|-------------------------------------|

|   | (e) | a      winding-up, administration or dissolution (and any of those terms)      includes a Dutch entity being declared bankrupt (failliet verklaard) or      dissolved (ontbonden); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | a      moratorium includes sursance van betaling      and granted a moratorium includes surséance      verleend; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

----

|   | (g) | any      step or procedure taken in connection with insolvency proceedings includes      a Dutch entity having filed a notice under section 36 of the Dutch Tax      Collection Act (Invorderingswet      1990); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | an      administrative receiver includes a curator; |
|--------|-----|-----------------------------------------------------|

|   | (i) | an      administrator includes a bewindvoerder;      and |
|--------|-----|----------------------------------------------------------|

|   | (j) | an      attachment includes a beslag. |
|--------|-----|---------------------------------------|

| 1.5 | Slovak      terms |
|-----|-------------------|

|   | (a) | a      novation includes privatívna novácia and      kumulatívna      novácia; |
|--------|-----|----------------------------------------------------------------------------------------------------|

|   | (b) | a Security includes      záložné      právo,      zádržné      právo,      zabezpečovací      prevod práva, and zabezpečovacie postúpenie      pohľadávky; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | a      bankruptcy or insolvency includes konkurzné konanie,      konkurz, reštrukturalizačné      konanie, reštrukturalizácia, and      nútená      správa; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | being      bankrupt or insolvent includes being v úpadku, predlžený, platobne neschopný,      v konkurze, v reštrukturalizácii,      and v nútenej      správe; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | an      expropriation, attachment, sequestration, distress, execution or analogous      process includes vyvlastnenie, exekúcia and výkon      rozhodnutia; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | winding-up,      dissolution, administration or reorganisation includes likvidácia, zrušenie s likvidáciou,      zrušenie bez likvidácie      bez právneho nástupcu, konkurzné konanie, konkurz, reštrukturalizačné      konanie, reštrukturalizácia, and      nútená      správa; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | a      receiver, administrator, administrative receiver, compulsory manager or      similar officer includes likvidátor, konkurzný správca      (including predbežný správca),      reštrukturalizačný správca, nútený správca, and      súdny      exekútor; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | a      moratorium includes reštrukturalizačné      konanie and reštrukturalizácia;      and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (i) | constitutional      documents includes spoločenská zmluva, zakladateľská      listina, zakladateľská      zmluva,      zriaďovacia      listina, štatút, and stanovy. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.6 | Third      party rights |
|-----|-------------------------|

|   | (a) | Unless      expressly provided to the contrary in a Finance Document a person who is      not a Party has no right under the Contracts (Rights of Third Parties) Act      1999 (the “Third Parties      Act”) to enforce or enjoy the benefit of any term of this      Agreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | Notwithstanding      any term of any Finance Document, the consent of any person who is not a      Party is not required to rescind or vary this Agreement at any      time. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | THE      FACILITY |
|----|-------------------|

| 2.1 | The      Facility |
|-----|-------------------|

| 2.2 | Finance      Parties’ rights and obligations |
|-----|----------------------------------------------------|

|   | (a) | The      obligations of each Finance Party under the Finance Documents are      several.  Failure by a Finance Party to perform its obligations      under the Finance Documents does not affect the obligations of any other      Party under the Finance Documents.  No Finance Party is      responsible for the obligations of any other Finance Party under the      Finance Documents. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      rights of each Finance Party under or in connection with the Finance      Documents are separate and independent rights and any debt arising under      the Finance Documents to a Finance Party from an Obligor shall be a      separate and independent debt. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | A      Finance Party may, except as otherwise stated in the Finance Documents,      separately enforce its rights under the Finance  Documents. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.3 | Obligors’      Agent |
|-----|----------------------------|

|   | (a) | Each      Obligor (other than the Borrower) by its execution of this Agreement or an      Accession Deed irrevocably appoints the Borrower to act on its behalf as      its agent in relation to the Finance Documents and irrevocably      authorises: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Borrower on its behalf to supply all information concerning itself      contemplated by this Agreement to the Finance Parties and to give all      notices and instructions, to execute on its behalf any Accession Deed, to      make such agreements and to effect the relevant amendments, supplements      and variations capable of being given, made or effected by any Obligor      notwithstanding that they may affect the Obligor, without further      reference to or the consent of that Obligor;and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | each      Finance Party to give any notice, demand or other communication to that      Obligor pursuant to the Finance Documents to the Borrower (c/o the      Parent); |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | Every      act, omission, agreement, undertaking, settlement, waiver, amendment,      supplement, variation, notice or other communication given or made by the      Obligors’ Agent or given to the Obligors’ Agent under any Finance Document      on behalf of another Obligor or in connection with any Finance Document      (whether or not known to any other Obligor and whether occurring before or      after such other Obligor became an Obligor under any Finance Document)      shall be binding for all purposes on that Obligor as if that Obligor had      expressly made, given or concurred with it.  In the event of any      conflict between any notices or other communications of the Obligors’      Agent and any other Obligor, those of the Obligors’ Agent shall      prevail. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | PURPOSE |
|----|---------|

| 3.1 | Purpose |
|-----|---------|

|   | (a) | first,      refinancing all outstanding Financial Indebtedness of the Borrower to Česká      spořitelna, a.s. (“CSAS”), under (i) the      CZK 1,200,000,000 facility agreement No. 2644/05/LCD dated 27 October      2005, as amended from time to time, and (ii) the CZK 250,000,000 facility      agreement No. 2645/05/LCD dated 27 October 2005, as amended from time to      time, in each case made between the Borrower as borrower and CSAS as      lender; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | second,      repayment of the outstanding principal of the loan under the CET Loan      Agreement up to the amount of CZK1,550,000,000. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | Monitoring |
|-----|------------|

| 4. | CONDITIONS      OF UTILISATION |
|----|--------------------------------|

| 4.1 | Initial      conditions precedent |
|-----|-----------------------------------|

| 4.2 | Further      conditions precedent |
|-----|-----------------------------------|

----

|   | (a) | no      Default is continuing or would result from the proposed Loan;      and |
|--------|-----|--------------------------------------------------------------------------------|

|   | (b) | the      Repeating Representations to be made by each Obligor are true in all      material respects. |
|--------|-----|-------------------------------------------------------------------------------------------------------|

| 4.3 | Maximum      number of Loans |
|-----|------------------------------|

|   | (a) | The      Borrower may not deliver a Utilisation Request if, as a result of the      proposed Loan, seven (7) or more Loans would be    outstanding. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Borrower may not request that a Loan bedivided. |
|--------|-----|----------------------------------------------------------|

| 5. | UTILISATION |
|----|-------------|

| 5.1 | Delivery      of a Utilisation Request |
|-----|----------------------------------------|

| 5.2 | Completion      of a Utilisation Request |
|-----|------------------------------------------|

|   | (a) | the      proposed Utilisation Date is a Business Day within the Availability      Period; |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | (b) | the      currency and amount of the Loan comply with Clause 5.3 (Currency and amount);      and |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (c) | the      proposed Interest Period complies with Clause 12 (Interest      Periods). |
|--------|-----|-----------------------------------------------------------------------------------------|

| 5.3 | Currency      and amount |
|-----|--------------------------|

|   | (a) | The      currency specified in a Utilisation Request must be  CZK. |
|--------|-----|--------------------------------------------------------------------|

|   | (b) | The      amount of the proposed Loan must be at least CZK 300,000,000, or, if less,      the Available Facility. |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

| 5.4 | Lenders’      participation |
|-----|-----------------------------------|

|   | (a) | If      the conditions set out in this Agreement have been met, each Lender shall      make its participation in each Loan available by the Utilisation Date      through its Facility Office. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      amount of each Lender’s participation in each Loan will be equal to the      proportion borne by its Available Commitment to the Available Facility      immediately prior to making the Loan (for the avoidance of doubt, taking      into account (i) following the accession of an Additional Lender, the      Available Commitment of that Additional Lender, and (ii) following the      Increase Date applicable to any Original Lender, the increased Commitment      of that Original Lender). |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 5.5 | Cancellation      of Commitments |
|-----|----------------------------------|

| 6. | REPAYMENT |
|----|-----------|

| 6.1 | Repayment |
|-----|-----------|

|   | (a) | The      Borrower shall repay the aggregate Loans by repaying on each Repayment      Date an amount which reduces the outstanding aggregate Loans by an amount      equal to the relevant percentage of all the Loans as at the close of      business in Prague on the last day of the Availability Period as set out      in the table below: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Repayment      Date                                                                                                                           |   | Repayment      Instalment |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|
|                                                                                                                                          |   |                      |
| Date      falling twelve (12) Months from the date of this Agreement                                                                          |   | 15%                       |
|                                                                                                                                          |   |                      |
| Date      falling eighteen (18) Months from the date of this    Agreement                                                                     |   | 15%                       |
|                                                                                                                                          |   |                      |
| Date      falling twenty four (24) Months from the date of this      Agreement                                                                |   | 15%                       |
|                                                                                                                                          |   |                      |
| The      earlier of (i) date falling thirty (30) Months from the date of this      Agreement, and (ii) the Initial Termination Date |   | 15%                       |
|                                                                                                                                          |   |                      |
| Initial      Termination Date                                                                                                                 |   | 40%                       |

|   | (b) | Notwithstanding      paragraph (a) above, in relation to each Extending Lender, following the      exercise of the Extension Option in accordance with Clause 7 (Extension of Initial      Termination Date) and the extension of the Initial Termination Date      becoming effective in respect of an Extending Lender (or Extending      Lenders) in accordance with paragraph (d) of Clause 7.3 (Notice to Lenders), the      Borrower shall further repay the aggregate of the Loans (or relevant parts      of the Loans in respect of which the Extension Option has been exercised)      borrowed from an Extending Lender (or Extending Lenders) in instalments by      repaying on each Repayment Date an amount which reduces the amount of such      outstanding aggregate Loans (or relevant parts of the Loans) by an amount      equal to the relevant percentage of all the Loans as at the close of      business in Prague on the last day of the Availability Period as set out      in the table below: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Repayment      Date                                                                                                                             |   | Repayment      Instalment |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|
|                                                                                                                                            |   |                      |
| Date      falling twelve (12) Months from the date of this Agreement                                                                            |   | 15%                       |
|                                                                                                                                            |   |                      |
| Date      falling eighteen (18) Months from the date of this    Agreement                                                                       |   | 15%                       |
|                                                                                                                                            |   |                      |
| Date      falling twenty four (24) Months from the date of this      Agreement                                                                  |   | 15%                       |
|                                                                                                                                            |   |                      |
| Date      falling thirty (30) Months from the date of this Agreement                                                                            |   | 15%                       |
|                                                                                                                                            |   |                      |
| Date      falling thirty (36) Months from the date of this Agreement                                                                            |   | 15%                       |
|                                                                                                                                            |   |                      |
| The      earlier of (i) the date falling forty two (42) Months from the date of      this Agreement, and (ii) the Extended TerminationDate |   | 15%                       |
|                                                                                                                                            |   |                      |
| Extended      Termination Date                                                                                                                  |   | 10%                       |

|   | (c) | The      Borrower may not reborrow any part of the Facility which is      repaid. |
|--------|-----|-----------------------------------------------------------------------------------|

| 6.2 | Effect      of cancellation and prepayment on scheduled repayments and      reductions |
|-----|----------------------------------------------------------------------------------------|

|   | (a) | If      any of the Loans are prepaid in accordance with Clause 8.3 (Right of cancellation and      repayment in relation to a single Lender) or Clause 8.1 (Illegality), the amount      of the repayment instalments for each Repayment Date falling after that      prepayment will reduce pro rata by the amount      of the Loan prepaid. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      any of the Loans are prepaid in accordance with Clause 8.2 (Voluntary      prepayment), the amount of the      repayment instalments for each Repayment Date falling after that      prepayment will reduce in chronological order by the amount of the Loan      prepaid. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 7. | EXTENSION      OF INITIAL TERMINATION DATE |
|----|--------------------------------------------|

| 7.1 | Extension      Request |
|-----|------------------------|

| 7.2 | Completion      of the Extension Request |
|-----|------------------------------------------|

|   | (a) | it      is delivered to the Facility Agent not later than the Specified Time on      the date falling not less than 60 days (but not more than 90 days) before      the Extension Option Date; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | it      specifies the Extension Fee at the rate agreed between the Borrower and      the Facility Agent; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (c) | it      includes confirmation from the Borrower that the Repeating Representations      are true in all material respects and that no Default or Event of Default      has occurred, in each case in form and content satisfactory to the      Facility Agent (acting reasonably). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | Notice      to Lenders |
|-----|------------------------|

|   | (a) | Upon      receipt of the duly completed Extension Request, the Facility Agent shall      promptly notify each Lender of such Extension Request.  After      such notice is received from the Facility Agent, each Lender shall, not      less than 30 days before the Extension Option Date, and in its absolute      discretion, give written notice confirming either  that: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | it      does not consent to the extension requested and wishes to be repaid its      share of the Loans in full on the Initial Termination Date (and whether,      in the alternative, it is willing to transfer such share of the Loans by      way of a Transfer Certificate); or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | it      is willing to participate in the extension (in whole or in part) and for      the purpose of paragraph (c) below, whether and the extent to which (A)      notwithstanding such consent, it wishes to decrease its participation in      any Loan (and whether it is willing to do so by way of a Transfer      Certificate) or (B) it is willing to increase its participation in any      Loan by way of a TransferCertificate. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Facility Agent does not receive notice from a Lender by the time limit      specified above in paragraph (a) of this Clause 7.3 (Notice to Lenders),      such Lender shall be deemed not to have consented to the extension      requested.  Subject to receipt by the Facility Agent of      sufficient notice pursuant to paragraph (a) of this Clause 7.3 (Notice to Lenders) and      otherwise to the extent reasonably practicable, the Facility Agent shall,      not less than 10 Business Days before the Extension Option Date, inform      the Borrower and the Extending Lenders of (i) the amount of the      Facility and (ii) each Extending Lender’s participation in the Loans, in      each case, which is to apply with effect from the Initial Termination      Date. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Each      Lender which has indicated it does not consent to the Extension Request,      or is deemed not to have consented to the Extension Request, or has      consented to the Extension Request but wishes to reduce its participation      in any Loan, in each case, in accordance with paragraphs (a) and (b)      above: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | may      upon invitation by the Facility Agent and only if agreed to by such      Lender, be required to transfer its (or any part of its) participation in      such Loan to a Transferee designated by the Facility Agent, such transfer      to be made in accordance with and subject to the provisions of Clause 26      (Changes to the      Lenders) (except for Clause 26.3 (Assignment or transfer      fee) which shall not apply to any transfer pursuant to this      sub-paragraph (i)) provided that the relevant Transfer Date for such      transfer shall be the Initial Termination Date;  or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | shall: |
|--------|------|--------|

|   | (A) | to      the extent its (or any part of its) participation in such Loan is not      transferred under paragraph (i)above; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (B) | to      the extent its (or any part of its) participation in any Loans is not      being retained by such Lender pursuant to paragraph (a)(ii) of this      Clause; or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | if      paragraph (b) of this Clause applies to such  Lender, |
|--------|-----|---------------------------------------------------------------|

|   | (d) | Provided      that on the Initial Termination Date there is no Event of Default or      Default continuing and subject to Clause 10.7 (Extension), the      extension will take effect on the Initial Termination Date in relation      to: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | those      Lenders who have notified the Facility Agent, in accordance with the      provisions of paragraph (a) above, of their willingness to participate in      the extension; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      Transferees referred to in paragraph (c)(i)  above, |
|--------|------|--------------------------------------------------------------|

----

|   | (e) | Each      Borrower shall enter into such amendment and other documentation deemed      necessary by the Facility Agent (if any) to give effect to the Extension      Option. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.4 | Extension      Fee and Costs |
|-----|------------------------------|

| 8. | ILLEGALITY,      VOLUNTARY PREPAYMENT ANDCANCELLATION |
|----|-------------------------------------------------------|

| 8.1 | Illegality |
|-----|------------|

|   | (a) | that      Lender shall promptly notify the Facility Agent upon becoming aware of      that event; |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (b) | upon      the Facility Agent notifying the Borrower, the Commitment of that Lender      will be immediately cancelled; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      Borrower shall repay that Lender’s participation in the Loans on the last      day of the Interest Period for each Loan occurring after the Facility      Agent has notified the Borrower or, if earlier, the date specified by the      Lender in the notice delivered to the Facility Agent (being no earlier      than the last day of any applicable grace period permitted by      law). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | Voluntary      prepayment |
|-----|---------------------------|

|   | (a) | Subject      to paragraph (b) and (c) below, the Borrower may, if it gives the      Facility Agent not less than ten (10) Business Days’ (or such shorter      period as the Majority Lenders may agree) prior notice, prepay the whole      or any part of that Loan (but, if in part, being an amount that reduces      the amount of that Loan by a minimum amount of CZK      300,000,000). |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      Loan (or any part of any Loan) may only be prepaid after the last day of      the Availability Period (or, if earlier, the day on which the applicable      Available Facility is zero). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If      the Borrower prepays a Loan (or any part of any Loan) under this Clause      8.2 (Voluntary      prepayment) the Borrower shall, on the date of such voluntary      prepayment pay to the Facility Agent, in addition to the amounts prepaid,      a prepayment fee in the amount of 0.50% per cent. per annum until the      Initial Termination Date of the prepaidamounts. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8.3 | Right      of cancellation and repayment in relation to a single    Lender |
|-----|----------------------------------------------------------------------------|

|   | (a) | If: |
|--------|-----|-----|

|   | (i) | any      sum payable to any Lender by an Obligor is required to be increased under      paragraph (c) of Clause 15.2 (Tax gross-up);      or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      Lender claims indemnification from the Borrower or an Obligor under      Clause 15.3 (Tax      indemnity) or Clause 16.1 (Increased      costs), |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | On      receipt of a notice referred to in paragraph (a) above in relation to      a Lender, the Commitment of that Lender shall immediately be reduced to      zero. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | On      the last day of each Interest Period which ends after the Borrower has      given notice under paragraph (a) above in relation to a Lender (or,      if earlier, the date specified by the Borrower in that notice), the      Borrower shall repay that Lender’s participation in the Loans together      with all interest and other amounts accrued under the Finance      Documents. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.4 | Right      of cancellation in relation to a Defaulting  Lender |
|-----|----------------------------------------------------------------|

|   | (a) | If      any Lender becomes a Defaulting Lender, the Borrower may, at any time      whilst the Lender continues to be a Defaulting Lender, give the Facility      Agent ten (10) Business Days’ notice of cancellation of the Available      Commitment of that Lender. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | On      the notice referred to in paragraph (a) above becoming effective, the      Available Commitment of the Defaulting Lender shall immediately be reduced      to zero. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Facility Agent shall as soon as practicable after receipt of a notice      referred to in paragraph (a) above, notify all the      Lenders. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.5 | Right      of cancellation in relation to a Market Disruption Event or an Alternative      Disruption Event |
|-----|-------------------------------------------------------------------------------------------------------------|

|   | (a) | The      Borrower may, if it gives the Facility Agent not less than ten      (10) Business Days’ (or such shorter period as the Majority Lenders      may agree) prior notice given at the time when a Market Disruption Event      or an Alternative Disruption Event has occurred and is continuing, at its      option, prepay: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      Loan in relation to which that Market Disruption Event or that Alternative      Disruption Event has occurred and is continuing;  or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | in      the case that such Market Disruption Event or Alternative Disruption Event      has occurred and is continuing in relation to a portion of a Loan only,      any such portion of a Loan. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Nothing      in this Clause 8.5 shall affect any rights or discretions of the Facility      Agent under paragraph (h) of Clause 29.6 (Rights and      discretions). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | MANDATORY      PREPAYMENT |
|----|---------------------------|

| 9.1 | Change      of Control |
|-----|------------------------|

| 10. | RESTRICTIONS |
|-----|--------------|

| 10.1 | Notices      of Cancellation or Prepayment |
|------|--------------------------------------------|

| 10.2 | Interest      and other amounts |
|------|---------------------------------|

|   | (a) | in      relation to any prepayment made under Clause 8.5 (Right of cancellation in      relation to a Market Disruption Event or an Alternative Disruption      Event), shall be made without Break Costs, prepayment fee, premium      or penalty; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | in      relation to any prepayment made under Clause 8.2 (VoluntaryPrepayment), shall be      made subject to Break Costs and prepayment fee as set out in paragraph (c)      of Clause 8.2 (VoluntaryPrepayment). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.3 | No      reborrowing of the Facility |
|------|-------------------------------------|

| 10.4 | Prepayment      in accordance with Agreement |
|------|----------------------------------------------|

----

| 10.5 | No      reinstatement of Commitments |
|------|--------------------------------------|

| 10.6 | Facility      Agent’s receipt of Notices |
|------|------------------------------------------------|

| 10.7 | Extension |
|------|-----------|

| 10.8 | Effect      of Repayment and Prepayment onCommitments |
|------|-------------------------------------------------------|

| 11. | INTEREST |
|-----|----------|

| 11.1 | Calculation      of interest |
|------|------------------------------|

|   | (a) | Margin; |
|--------|-----|---------|

|   | (b) | PRIBOR;      and |
|--------|-----|------------------|

|   | (c) | Mandatory      Cost, if any. |
|--------|-----|------------------------------|

----

| 11.2 | Payment      of interest |
|------|--------------------------|

| 11.3 | Default      interest |
|------|-----------------------|

|   | (a) | If      an Obligor fails to pay any amount payable by it under a Finance Document      on its due date, interest shall accrue on the overdue amount from the due      date up to the date of actual payment (both before and after judgment) at      a rate which, subject to paragraph (b) below, is      2 per cent. higher than the rate which would have been payable      if the overdue amount had, during the period of non-payment, constituted a      Loan in the currency of the overdue amount for successive Interest      Periods, each of a duration selected by the Facility Agent (acting      reasonably).  Any interest accruing under this Clause 11.3      shall be immediately payable by the Obligor on demand by the Facility      Agent. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      any overdue amount consists of all or part of a Loan which became due on a      day which was not the last day of an Interest Period relating to that      Loan: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      first Interest Period for that overdue amount shall have a duration equal      to the unexpired portion of the current Interest Period relating to that      Loan; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      rate of interest applying to the overdue amount during that first Interest      Period shall be 2 per cent. higher than the rate which would      have applied if the overdue amount had not become  due. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Default      interest (if unpaid) arising on an overdue amount will be compounded with      the overdue amount at the end of each Interest Period applicable to that      overdue amount but will remain immediately due and  payable. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.4 | Notification      of rates of interest |
|------|----------------------------------------|

| 12. | INTEREST      PERIODS |
|-----|-----------------------|

| 12.1 | Interest      Periods |
|------|-----------------------|

|   | (a) | An      Interest Period shall, in relation to each Loan, mean the period      commencing on the Utilisation Date in respect of that Loan and ending on      the date falling three (3) Months after the Utilisation Date in respect of      that Loan and each period of three (3) Months thereafter commencing on the      first day after the last day of the immediately preceding Interest Period      and ending on the date that falls three (3) Months after the last day of      the immediately preceding InterestPeriod. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | An      Interest Period for a Loan shall not extend beyond the Termination      Date. |
|--------|-----|---------------------------------------------------------------------------------------|

----

|   | (c) | Prior      to the Syndication Date, Interest Periods shall be one Month or such other      period as the Facility Agent and the Parent may agree and any Interest      Period which would otherwise end during the Month preceding or extend      beyond the Syndication Date shall end on the Syndication    Date. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.2 | Changes      to Interest Periods |
|------|----------------------------------|

|   | (a) | Prior      to determining the interest rate for a Loan, the Facility Agent may      shorten an Interest Period for any Loan to ensure there are sufficient      Loans (with an aggregate amount equal to or greater than the relevant      repayment instalment) which have an Interest Period ending on a Repayment      Date for the Borrowers to make the relevant repayment instalment due on      that date. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Facility Agent makes any of the changes to an Interest Period referred      to in this Clause 12.2, it shall promptly notify the Borrower and the      Lenders. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.3 | Non-Business      Days |
|------|------------------------|

| 12.4 | Consolidation      of Loans |
|------|-----------------------------|

| 13. | CHANGES      TO THE CALCULATION OF INTEREST |
|-----|---------------------------------------------|

| 13.1 | Absence      of quotations |
|------|----------------------------|

|   | (a) | if      PRIBOR is to be determined by reference to the Reference Banks but a      Reference Bank does not supply a quotation by the Specified Time on the      Quotation Day, the applicable PRIBOR shall be determined on the basis of      the quotations of the remaining Reference Banks;  or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if      Clause 13.3 (Alternative Reference Bank      Rate) applies but an Alternative Reference Bank does not supply a      quotation before close of business in Prague on the date falling one      Business Day after the Quotation Day for that Loan, the applicable      Alternative Reference Bank Rate shall be determined on the basis of the      quotations of the remaining Alternative Reference  Banks. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.2 | Market      disruption |
|------|------------------------|

|   | (a) | If      a Market Disruption Event occurs in relation to a Loan for any Interest      Period, then the rate of interest on each Lender’s share of that Loan for      the Interest Period shall be the percentage rate per annum which is the      sum of: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | the      Margin; |
|--------|-----|------------------|

|   | (ii) | the      Alternative Reference Bank Rate or (if an Alternative Market Disruption      Event has occurred with respect to that Loan for the relevant Interest      Period of that Loan) the rate notified to the Facility Agent by that      Lender as soon as practicable and in any event by close of business in      Prague on the date falling 2 Business Days after the Quotation Day      (or, if earlier, on the date falling 2 Business Days prior to the      date on which interest is due to be paid in respect of that Interest      Period), to be that which expresses as a percentage rate per annum the      cost to that Lender of funding its participation in that Loan from      whatever source it may reasonably select;and |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      Mandatory Cost, if any, applicable to that Lender’s participation in the      Loan. |
|--------|-------|----------------------------------------------------------------------------------------------------|

|   | (b) | If: |
|--------|-----|-----|

|   | (i) | the      percentage rate per annum notified by a Lender pursuant to      paragraph (a)(ii) above is less than the Alternative Reference Bank      Rate; or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | a      Lender has not notified the Facility Agent of a percentage rate per annum      pursuant to paragraph (a)(ii)above, |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | In      this Agreement: |
|--------|-----|-------------------------|

|   | (i) | before      close of business in Prague on the date falling one Business Day after the      Quotation Day for the relevant Interest Period of the Loan, none or only      one of the Alternative Reference Banks supplies a rate to the Facility      Agent to determine the Alternative Reference Bank Rate for the relevant      Interest Period of the Loan; or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | before      close of business in Prague on the date falling 2 Business Days after      the Quotation Day for the relevant Interest Period of the Loan, the      Facility Agent receives notifications from a Lender or Lenders (whose      participations in that Loan exceed 35 per cent. of that Loan)      that the cost to it of funding its participation in that Loan from      whatever source it may reasonably select would be in excess of the      Alternative Reference Bank Rate;and |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | at      or about noon on the Quotation Day for the relevant Interest Period none      of the rates referred to in paragraphs (a) and (b) of the definition of      “PRIBOR” is available and none or only one of the Reference Banks supplies      a rate to the Facility Agent to determine PRIBOR for CZK and Interest      Period; or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | before      close of business in Prague on the Quotation Day for the relevant Interest      Period of the Loan, the Facility Agent receives notifications from a      Lender or Lenders (whose participations in a Loan exceed 35 per cent.      of that Loan) that the cost to it of funding its participation in that      Loan from whatever source it may reasonably select would be in excess of      PRIBOR. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.3 | Alternative      Reference Bank Rate |
|------|--------------------------------------|

|   | (a) | If      a Market Disruption Event occurs, the Facility Agent shall as soon as is      practicable request each of the Alternative Reference Banks to supply to      it the rate at which that Alternative Reference Bank could have borrowed      funds in CZK and for the relevant period in the Prague interbank market at      or about 11:00 a.m. on the Quotation Day for the Interest Period of      that Loan, were it to have done so by asking for and then accepting      interbank offers for deposits in reasonable market size in the currency of      that Loan and for a period comparable to the Interest Period of that      Loan. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | As      soon as is practicable after receipt of the rates supplied by the      Alternative Reference Banks, the Facility Agent will notify the Parent and      the Lenders of the arithmetic mean of the rates supplied to it in      accordance with paragraph (a) above (rounded upwards to four decimal      places) (the “Alternative      Reference Bank Rate”). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.4 | Alternative      basis of interest or funding |
|------|-----------------------------------------------|

|   | (a) | If      an Alternative Market Disruption Event occurs and the Facility Agent or      the Borrower so requires, the Facility Agent and the Borrower shall enter      into negotiations (for a period of not more than thirty days) with a view      to agreeing a substitute basis for determining the rate of      interest. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      alternative basis agreed pursuant to paragraph (a) above shall, with      the prior consent of all the Lenders and the Borrower, be binding on all      Parties. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.5 | Break      Costs |
|------|------------------|

|   | (a) | Each      Borrower shall, within five Business Days of demand by a Finance Party,      pay to that Finance Party its Break Costs attributable to all or any part      of a Loan or Unpaid Sum being paid by that Borrower on a day other than      the last day of an Interest Period for that Loan or Unpaid      Sum. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Lender shall, as soon as reasonably practicable after a demand by the      Facility Agent, provide a certificate confirming the amount of its Break      Costs for any Interest Period in which they  accrue. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14. | FEES |
|-----|------|

----

| 15. | TAX      GROSS UP AND INDEMNITIES |
|-----|-----------------------------------|

| 15.1 | Definitions |
|------|-------------|

|   | (a) | resident      in the Czech Republic for Czech taxpurposes; |
|--------|-----|------------------------------------------------------------|

|   | (b) | a      person designated as a “Qualifying Lender” in writing by the Facility      Agent and the Borrower; or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (c) | a      Treaty Lender. |
|--------|-----|-----------------------|

|   | (i) | is      treated as a resident of a Treaty State for the purposes of the Treaty and      qualified for the benefits of the Treaty;and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | does      not carry on a business in the Czech Republic through a permanent      establishment with which that Lender’s participation in the Loan is      effectively connected. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 15.2 | Tax      gross-up |
|------|-------------------|

|   | (a) | Each      Obligor shall make all payments to be made by it without any Tax      Deduction, unless a Tax Deduction is required by  law. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Borrower shall promptly upon becoming aware that an Obligor must make a      Tax Deduction (or that there is any change in the rate or the basis of a      Tax Deduction) notify the Facility Agent      accordingly.  Similarly, a Lender shall notify the Facility      Agent on becoming so aware in respect of a payment payable to that      Lender.  If the Facility Agent receives such notification from a      Lender it shall notify the Borrower and that  Obligor. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If      a Tax Deduction is required by law to be made by an Obligor, the amount of      the payment due from that Obligor shall be increased to an amount which      (after making any Tax Deduction) leaves an amount equal to the payment      which would have been due if no Tax Deduction had been      required. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | A      payment shall not be increased under paragraph (c) above by reason of      a Tax Deduction on account of Tax imposed by the Czech Republic, if on the      date on which the payment fallsdue: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      payment could have been made to the relevant Lender without a Tax      Deduction if the Lender had been a Qualifying Lender, but on that date      that Lender is not or has ceased to be a Qualifying Lender;    or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      relevant Lender is a Treaty Lender and the payment could have been made to      the Lender without the Tax Deduction had that Lender complied with its      obligations under paragraph (g)below. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | If      an Obligor is required to make a Tax Deduction, that Obligor shall make      that Tax Deduction and any payment required in connection with that Tax      Deduction within the time allowed and in the minimum amount required by      law. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | Within      thirty days of making either a Tax Deduction or any payment required in      connection with that Tax Deduction, the Obligor making that Tax Deduction      shall deliver to the Facility Agent for the Finance Party entitled to the      payment evidence reasonably satisfactory to that Finance Party that the      Tax Deduction has been made or (as applicable) any appropriate payment      paid to the relevant taxingauthority. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | A      Treaty Lender and each Obligor which makes a payment to which that Treaty      Lender is entitled shall co-operate in completing any procedural      formalities necessary for that Obligor to obtain authorisation to make      that payment without a Tax Deduction, including any note limited to the      provision of a tax residence certificate issued by the tax authorities of      the relevant Treaty State and a beneficial ownership declaration, both in      accordance with the Decree D-286 issued by the Czech Ministry of      Finance. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 15.3 | Tax      indemnity |
|------|--------------------|

|   | (a) | The      Borrower shall (within five Business Days of demand by the Facility Agent)      pay to a Protected Party an amount equal to the loss, liability or cost      which will be or has been directly suffered for or on account of Tax by      that Protected Party in respect of a Finance  Document. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      above shall not apply: |
|--------|-----|------------------------------------------------|

|   | (i) | with      respect to any Tax assessed on a FinanceParty: |
|--------|-----|----------------------------------------------------------|

|   | (A) | under      the law of the jurisdiction in which that Finance Party is incorporated      or, if different, the jurisdiction (or jurisdictions) in which that      Finance Party is treated as resident for tax purposes;  or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | under      the law of the jurisdiction in which that Finance Party is taxable in      respect of amounts received or receivable in that      jurisdiction, |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | to      the extent a loss, liability orcost: |
|--------|------|----------------------------------------------|

|   | (A) | is      compensated for by an increased payment under Clause 15.2 (Tax gross-up);      or |
|--------|-----|------------------------------------------------------------------------------------------------|

|   | (B) | would      have been compensated for by an increased payment under Clause 15.2       (Tax gross-up)      but was not so compensated solely because one of the exclusions in      paragraph (d) of Clause 15.2 (Tax gross-up)      applied. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | A      Protected Party making, or intending to make a claim under      paragraph (a) above shall promptly notify the Facility Agent of the      event which will give, or has given, rise to the claim, following which      the Facility Agent shall notify theBorrower. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | A      Protected Party shall, on receiving a payment from an Obligor under this      Clause 15.3, notify the FacilityAgent. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

| 15.4 | Tax      Credit |
|------|-----------------|

| 15.5 | Lender      Status Confirmation |
|------|---------------------------------|

----

|   | (a) | not      a Qualifying Lender; |
|--------|-----|-------------------------------|

|   | (b) | a      Qualifying Lender (other than a Treaty Lender);  or |
|--------|-----|------------------------------------------------------------|

|   | (c) | a      Treaty Lender. |
|--------|-----|-----------------------|

| 15.6 | Stamp      taxes |
|------|------------------|

| 15.7 | VAT |
|------|-----|

|   | (a) | All      amounts set out or expressed in a Finance Document to be payable by any      Party to a Finance Party which (in whole or in part) constitute the      consideration for a supply or supplies for VAT purposes shall be deemed to      be exclusive of any VAT which is chargeable on such supply or supplies,      and accordingly, subject to paragraph (b) below, if VAT is or becomes      chargeable on any supply made by any Finance Party to any Party under a      Finance Document, that Party shall pay to the Finance Party (in addition      to and at the same time as paying any other consideration for such supply)      an amount equal to the amount of such VAT (and such Finance Party shall      promptly provide an appropriate VAT invoice to such  Party). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      VAT is or becomes chargeable on any supply made by any Finance Party (the      “Supplier”) to any      other Finance Party (the “Recipient”) under a      Finance Document, and any Party other than the Recipient (the “Subject Party”) is      required by the terms of any Finance Document to pay an amount equal to      the consideration for such supply to the Supplier (rather than being      required to reimburse the Recipient in respect of that consideration),      such Party shall also pay to the Supplier (in addition to and at the same      time as paying such amount) an amount equal to the amount of such      VAT.  The Recipient will promptly pay to the Subject Party an      amount equal to any credit or repayment obtained by the Recipient from the      relevant tax authority which the Recipient reasonably determines is in      respect of such VAT. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Where      a Finance Document requires any Party to reimburse or indemnify a Finance      Party for any cost or expense, that Party shall reimburse or indemnify (as      the case may be) such Finance Party for the full amount of such cost or      expense, including such part thereof as represents VAT, save to the extent      that such Finance Party is entitled to credit or repayment in respect of      such VAT from the relevant taxauthority. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | Any      reference in this Clause 15.7 to any Party shall, at any time when      such Party is treated as a member of a group for VAT purposes, include      (where appropriate and unless the context otherwise requires) a reference      to the representative member of such group at such time (the term      “representative member” to have the same meaning as in the Value Added Tax      Act 1994). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16. | INCREASED      COSTS |
|-----|----------------------|

| 16.1 | Increased      costs |
|------|----------------------|

|   | (a) | Subject      to Clause 16.3 (Exceptions) the      Borrower shall, within five Business Days of a demand by the Facility      Agent, pay for the account of a Finance Party the amount of any Increased      Costs incurred by that Finance Party or any of its Affiliates as a result      of (i) the introduction of or any change in (or in the      interpretation, administration or application of) any law or regulation or      (ii) compliance with any law or regulation made after the date of      this Agreement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | In      this Agreement “Increased      Costs” means: |
|--------|-----|------------------------------------------------------------------|

|   | (i) | a      reduction in the rate of return from the Facility or on a Finance Party’s      (or its Affiliate’s) overallcapital; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | an      additional or increased cost; or |
|--------|------|------------------------------------------|

|   | (iii) | a      reduction of any amount due and payable under any Finance      Document, |
|--------|-------|---------------------------------------------------------------------------------|

| 16.2 | Increased      cost claims |
|------|----------------------------|

|   | (a) | A      Finance Party intending to make a claim pursuant to Clause 16.1      (Increased Costs)      shall notify the Facility Agent of the event giving rise to the claim,      following which the Facility Agent shall promptly notify the      Borrower. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Finance Party shall, as soon as practicable after a demand by the Facility      Agent, provide a certificate confirming the amount of its Increased      Costs. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.3 | Exceptions |
|------|------------|

|   | (a) | Clause 16.1      (Increased Costs)      does not apply to the extent any Increased Cost  is: |
|--------|-----|---------------------------------------------------------------------------------------------------|

----

|   | (i) | attributable      to a Tax Deduction required by law to be made by an    Obligor; |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (ii) | compensated      for by Clause 15.3 (Tax      indemnity) (or would have been compensated for under Clause 15.3      (Tax indemnity)      but was not so compensated solely because any of the exclusions in      paragraph (b) of Clause 15.3 (Tax indemnity)      applied); |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | compensated      for by the payment of the MandatoryCost; |
|--------|-------|-----------------------------------------------------------|

|   | (iv) | attributable      to the wilful breach by the relevant Finance Party or its Affiliates of      any law or regulation; or |
|--------|------|--------------------------------------------------------------------------------------------------------------------------|

|   | (v) | attributable      to the implementation or application of or compliance with the      "International Convergence of Capital Measurement and Capital Standards, a      Revised Framework" published by the Basel Committee on Banking Supervision      in June 2004 in the form existing on the date of this Agreement ("Basel      II") or any other law or regulation which implements Basel II (whether      such implementation, application or compliance is by a government,      regulator, Finance Party or any of its  Affiliates). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | In      this Clause 16.3 reference to a “Tax Deduction” has the      same meaning given to the term in Clause 15.1 (Definitions). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17. | OTHER      INDEMNITIES |
|-----|------------------------|

| 17.1 | Currency      indemnity |
|------|-------------------------|

|   | (a) | If      any sum due from an Obligor under the Finance Documents (a “Sum”), or any order,      judgment or award given or made in relation to a Sum, has to be converted      from the currency (the “First Currency”) in      which that Sum is payable into another currency (the “Second Currency”) for      the purpose of: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | making      or filing a claim or proof against that Obligor;  or |
|--------|-----|------------------------------------------------------------------|

|   | (ii) | obtaining      or enforcing an order, judgment or award in relation to any litigation or      arbitration proceedings, |
|--------|------|------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Obligor waives any right it may have in any jurisdiction to pay any amount      under the Finance Documents in a currency or currency unit other than that      in which it is expressed to bepayable. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 17.2 | Other      indemnities |
|------|------------------------|

|   | (a) | the      occurrence of any Event of Default; |
|--------|-----|----------------------------------------------|

|   | (b) | a      failure by an Obligor to pay any amount due under a Finance Document on      its due date, including without limitation, any cost, loss or liability      arising as a result of Clause 31 (Sharing among the Finance      Parties); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | funding,      or making arrangements to fund, its participation in a Utilisation      requested by the Borrower in a Utilisation Request but not made by reason      of the operation of any one or more of the provisions of this Agreement      (other than by reason of default or negligence by that Finance Party      alone); or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | a      Loan (or part of a Loan) not being prepaid in accordance with a notice of      prepayment given by the Borrower. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------|

| 17.3 | Indemnity      to the Facility Agent |
|------|--------------------------------------|

|   | (a) | investigating      any event which it reasonably believes is a Default;  or |
|--------|-----|-----------------------------------------------------------------------------|

|   | (b) | acting      or relying on any notice, request or instruction which it reasonably      believes to be genuine, correct and appropriately    authorised. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.4 | Indemnity      to the Security Agent |
|------|--------------------------------------|

|   | (a) | Each      Obligor shall promptly indemnify the Security Agent and every Receiver and      Delegate against any cost, loss or liability incurred by any of them as a      result of: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      taking, holding, protection or enforcement of the Transaction      Security, |
|--------|-----|---------------------------------------------------------------------------------------|

|   | (ii) | the      exercise of any of the rights, powers, discretions and remedies vested in      the Security Agent and each Receiver and Delegate by the Finance Documents      or by law (other than by reason of wilful misconduct or gross negligence      of the Security Agent and each Receiver and Delegate);  or |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      default by any Obligor in the performance of any of the obligations      expressed to be assumed by it in the Finance  Documents. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Security Agent may, in priority to any payment to the Secured Parties,      indemnify itself out of the Charged Property in respect of, and pay and      retain, all sums necessary to give effect to the indemnity in this      Clause 17.4 and shall have a lien on the Transaction Security and the      proceeds of the enforcement of the Transaction Security for all monies      payable to it. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 18. | MITIGATION      BY THE LENDERS |
|-----|--------------------------------|

| 18.1 | Mitigation |
|------|------------|

|   | (a) | Each      Finance Party shall, in consultation with the Borrower, take all      reasonable steps to mitigate any circumstances which arise and which would      result in any amount becoming payable under or pursuant to, or cancelled      pursuant to, any of Clause 8.1 (Illegality),      Clause 15 (Tax      gross-up and indemnities) or Clause 16 (Increased Costs) or      paragraph 3 of Schedule 4 (Mandatory Cost formula)      including (but not limited to) transferring its rights and obligations      under the Finance Documents to another Affiliate or Facility      Office. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      above does not in any way limit the obligations of any Obligor under the      Finance Documents. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

| 18.2 | Limitation      of liability |
|------|------------------------------|

|   | (a) | The      Borrower shall promptly indemnify each Finance Party for all costs and      expenses reasonably incurred by that Finance Party as a result of steps      taken by it under Clause 18.1 (Mitigation). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      Finance Party is not obliged to take any steps under Clause 18.1      (Mitigation) if,      in the opinion of that Finance Party (acting reasonably), to do so might      be prejudicial to it. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19. | COSTS      AND EXPENSES |
|-----|-------------------------|

| 19.1 | Transaction      expenses |
|------|---------------------------|

|   | (a) | this      Agreement and any other documents referred to in this Agreement and the      Transaction Security; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      other Finance Documents executed after the date of this      Agreement. |
|--------|-----|----------------------------------------------------------------------------------|

| 19.2 | Amendment      costs |
|------|----------------------|

----

| 19.3 | Security      Agent’s ongoing costs |
|------|-------------------------------------------|

|   | (a) | In      the event of (i) a Default or (ii) the Security Agent      considering it necessary or expedient or (iii) the Security Agent      being requested by an Obligor or the Majority Lenders to undertake duties      which the Security Agent and the Borrower agree to be of an exceptional      nature and/or outside the scope of the normal duties of the Security Agent      under the Finance Documents, the Borrower shall pay to the Security Agent      any additional remuneration that may be agreed between    them. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Security Agent and the Borrower fail to agree upon the nature of the      duties or upon any additional remuneration, that dispute shall be      determined by an investment bank (acting as an expert and not as an      arbitrator) selected by the Security Agent and approved by the Borrower      or, failing approval, nominated (on the application of the Security Agent)      by the President for the time being of the Law Society of England and      Wales (the costs of the nomination and of the investment bank being      payable by the Borrower) and the determination of any investment bank      shall be final and binding upon the parties to this    Agreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.4 | Enforcement      and preservation costs |
|------|-----------------------------------------|

| 20. | GUARANTEE      AND INDEMNITY |
|-----|------------------------------|

| 20.1 | Guarantee      and indemnity |
|------|------------------------------|

|   | (a) | guarantees      to each Finance Party punctual performance by each other Obligor of all      that Obligor’s payment obligations under the Finance      Documents; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | undertakes      with each Finance Party that whenever another Obligor does not pay any      amount when due under or in connection with any Finance Document, that      Guarantor shall promptly on demand pay that amount as if it was the      principal obligor; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | agrees      with each Finance Party that if any obligation guaranteed by it is or      becomes unenforceable, invalid or illegal, it will, as an independent and      primary obligation, indemnify that Finance Party promptly on demand      against any cost, loss or liability it incurs as a result of an Obligor      not paying any amount which would, but for such unenforceability,      invalidity or illegality, have been payable by it under any Finance      Document on the date when it would have been due.  The amount      payable by a Guarantor under this indemnity will not exceed the amount it      would have had to pay under this Clause 20 if the amount claimed had      been recoverable on the basis of aguarantee. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 20.2 | Continuing      Guarantee |
|------|---------------------------|

| 20.3 | Reinstatement |
|------|---------------|

| 20.4 | Waiver      of defences |
|------|-------------------------|

|   | (a) | any      time, waiver or consent granted to, or composition with, any Obligor or      other person; |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | (b) | the      release of any other Obligor or any other person under the terms of any      composition or arrangement with any creditor of any member of the      Group; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      taking, variation, compromise, exchange, renewal or release of, or refusal      or neglect to perfect, take up or enforce, any rights against, or security      over assets of, any Obligor or other person or any non-presentation or      non-observance of any formality or other requirement in respect of any      instrument or any failure to realise the full value of any      security; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      incapacity or lack of power, authority or legal personality of or      dissolution or change in the members or status of an Obligor or any other      person; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | any      amendment, novation, supplement, extension restatement (however      fundamental and whether or not more onerous) or replacement of a Finance      Document or any other document or security including, without limitation,      any change in the purpose of, any extension of or increase in any facility      or the addition of any new facility under any Finance Document or other      document or security; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (f) | any      unenforceability, illegality or invalidity of any obligation of any person      under any Finance Document or any other document or security;      or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | any      insolvency or similar proceedings. |
|--------|-----|---------------------------------------------|

| 20.5 | Guarantor      Intent |
|------|-----------------------|

| 20.6 | Immediate      recourse |
|------|-------------------------|

| 20.7 | Appropriations |
|------|----------------|

|   | (a) | refrain      from applying or enforcing any other moneys, security or rights held or      received by that Finance Party (or any trustee or agent on its behalf) in      respect of those amounts, or apply and enforce the same in such manner and      order as it sees fit (whether against those amounts or otherwise) and no      Guarantor shall be entitled to the benefit of the same;  and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | hold      in an interest-bearing suspense account any moneys received from any      Guarantor or on account of any Guarantor’s liability under this      Clause 20. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.8 | Deferral      of Guarantors’ rights |
|------|-------------------------------------------|

|   | (a) | Until      all amounts which may be or become payable by the Obligors under or in      connection with the Finance Documents have been irrevocably paid in full      and unless the Facility Agent otherwise directs, no Guarantor will      exercise any rights which it may have by reason of performance by it of      its obligations under the Finance Documents or by reason of any amount      being payable, or liability arising, under this Clause  20: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      be indemnified by an Obligor; |
|--------|-----|---------------------------------------|

----

|   | (ii) | to      claim any contribution from any other guarantor of any Obligor’s      obligations under the FinanceDocuments; |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | to      take the benefit (in whole or in part and whether by way of subrogation or      otherwise) of any rights of the Finance Parties under the Finance      Documents or of any other guarantee or security taken pursuant to, or in      connection with, the Finance Documents by any Finance    Party; |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | to      bring legal or other proceedings for an order requiring any Obligor to      make any payment, or perform any obligation, in respect of which any      Guarantor has given a guarantee, undertaking or indemnity under Clause      20.1 (Guarantee and      Indemnity); |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | to      exercise any right of set-off against any Obligor;  and/or |
|--------|-----|--------------------------------------------------------------------|

|   | (vi) | to      claim or prove as a creditor of any Obligor in competition with any      Finance Party. |
|--------|------|-------------------------------------------------------------------------------------------------|

|   | (b) | Subject      to paragraph (c) below, if a Guarantor receives any benefit, payment or      distribution in relation to such rights it shall hold that benefit,      payment or distribution to the extent necessary to enable all amounts      which may be or become payable to the Finance Parties by the Obligors      under or in connection with the Finance Documents to be repaid in full on      trust for the Finance Parties and shall promptly pay or transfer the same      to the Facility Agent or as the Facility Agent may direct for application      in accordance with Clause 32 (Payment      mechanics). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      Guarantor being a Slovak Obligor shall, as a commissioned agent (in      Slovak: komisionár) under      Section 577 et      seq. of the Slovak Commercial Code, hold in its own name but for      the account of the Finance Parties any benefit, payment or distribution      received by it contrary to this Clause and must immediately pay or      transfer to the Facility Agent or as the Facility Agent may direct for      application in accordance with Clause 32 (Payment      mechanics). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.9 | Release      of Guarantors’ right ofcontribution |
|------|--------------------------------------------------------|

|   | (a) | that      Retiring Guarantor is released by each other Guarantor from any liability      (whether past, present or future and whether actual or contingent) to make      a contribution to any other Guarantor arising by reason of the performance      by any other Guarantor of its obligations under the Finance Documents;      and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | each      other Guarantor waives any rights it may have by reason of the performance      of its obligations under the Finance Documents to take the benefit (in      whole or in part and whether by way of subrogation or otherwise) of any      rights of the Finance Parties under any Finance Document or of any other      security taken pursuant to, or in connection with, any Finance Document      where such rights or security are granted by or in relation to the assets      of the Retiring Guarantor. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 20.10 | Additional      security |
|-------|--------------------------|

| 20.11 | Guarantee      Limitations |
|-------|----------------------------|

|   | (a) | In      respect of a Dutch Guarantor, the guarantee under this Clause 20 does not      apply to any liability to the extent that it would result in this      guarantee constituting unlawful financial assistance within the meaning of      section 2:207c of the Dutch CivilCode. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | This      guarantee does not apply to any liability to the extent it would result in      this guarantee constituting unlawful financial assistance provided by a      Slovak Obligor (having a legal form of joint-stock company (akciová      spoločnosť)) within the meaning of Section 161e of the Slovak      Commercial Code. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21. | REPRESENTATIONS |
|-----|-----------------|

| 21.1 | General |
|------|---------|

| 21.2 | Status |
|------|--------|

|   | (a) | It      is a limited liability company or corporation (as the case may be), duly      incorporated and validly existing under the law of its jurisdiction of      incorporation. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | It      has the power to own its material assets and carry on its business in all      material respects as it is beingconducted. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

| 21.3 | Binding      obligations |
|------|--------------------------|

|   | (a) | the      obligations expressed to be assumed by it in each Finance Document to      which it is a party are legal, valid, binding and enforceable obligations;      and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | (without      limiting the generality of paragraph (a) above), each Transaction      Security Document to which it is a party creates the security interests      which that Transaction Security Document purports to create and those      security interests are valid andeffective. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.4 | Non-conflict      with other obligations |
|------|------------------------------------------|

|   | (a) | any      law or legally binding regulation applicable to each Obligor (including      all applicable local laws and regulations concerning (i) corporate      benefit, and (ii) financial assistance by a company for the      acquisition of or subscription for its own shares or the shares of its      Holding Company or any othercompany); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | each      Obligors constitutional documents;or |
|--------|-----|------------------------------------------------|

|   | (c) | any      material agreement or instrument (including, without limitation, the      Parent 2009 Indenture, any other Parent Note Document or any other Parent      Note Instrument) binding upon any Obligor or any material assets of any      Obligor or constitute a default or termination event (however described)      under any such agreement orinstrument. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.5 | Power      and authority |
|------|--------------------------|

|   | (a) | It      has the power to enter into, perform and deliver, and has taken all      necessary action to authorise its entry into, performance and delivery of,      the Finance Documents to which it is or will be a party and the      transactions contemplated by those Finance  Documents. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      limit on its powers will be exceeded as a result of the borrowing, grant      of security or giving of guarantees or indemnities contemplated by the      Finance Documents to which it is aparty. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.6 | Validity      and admissibility in evidence |
|------|---------------------------------------------|

|   | (a) | All      Authorisations required: |
|--------|-----|-----------------------------------|

|   | (i) | to      enable it lawfully to enter into, exercise its rights and comply with its      obligations in the Finance Documents to which it is a party;      and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | to      make the Finance Documents to which it is a party admissible in evidence      in its Relevant Jurisdictions (subject to any necessary translation of      such Finance Documents and notarisation of any such      translation), |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | All      Authorisations (including, without limitation, the Broadcasting Licences)      necessary for the material conduct of the business of any Obligor have      been obtained or effected and are in full force and  effect. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.7 | Governing      law and enforcement |
|------|------------------------------------|

|   | (a) | the      choice of governing law of the Finance Documents will be recognised and      enforced in its Relevant Jurisdictions;and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      judgment obtained in relation to a Finance Document in the jurisdiction of      the governing law of that Finance Document will be recognised and enforced      in its Relevant Jurisdictions. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.8 | Insolvency |
|------|------------|

|   | (a) | corporate      action, legal proceeding or other procedure or step described in      paragraph (a) of Clause 25.8 (Insolvency      proceedings); or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | creditors’      process described in Clause 25.9 (Creditors’      process), |
|--------|-----|----------------------------------------------------------------------------------------------|

| 21.9 | No      filing or stamp taxes |
|------|-------------------------------|

| 21.10 | Deduction      of Tax |
|-------|-----------------------|

| 21.11 | No      default |
|-------|-----------------|

|   | (a) | No      Event of Default and, on the date of this Agreement, no Default is      continuing or is reasonably likely to result from the making of any Loan      or the entry into, the performance of, or any transaction contemplated by,      any Finance Document. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      other event or circumstance is outstanding which constitutes (or, with the      expiry of a grace period, the giving of notice, the making of any      determination or any combination of any of the foregoing, would      constitute) a default or termination event (however described) under any      other agreement or instrument which is binding on it or any member of the      Group or to which its assets (or assets of any of member of the Group) are      subject which has or is in the reasonable opinion of the Majority Lenders      likely to have a Material AdverseEffect. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.12 | No      misleading information |
|-------|--------------------------------|

|   | (a) | any      factual information relating to the Group contained in Lenders’      Presentation or the Information Package was true and accurate in all      material respects as at the date of the relevant report or document      containing the information or (as the case may be) as at the date the      information is expressed to begiven; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Borrower’s Business Plan and the Parent Group Business Plan have been      prepared in accordance with applicable Accounting Principles as applied to      the Original Financial Statements, relating to the Group or the Parent      Group, as applicable, contained in the Borrower’s Business Plan or the      Parent Group Business Plan, as applicable, have been prepared on and based      on assumptions considered reasonable and have been approved by the      statutory executives of the Borrower and the Parent,      respectively; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      financial projection or forecast relating to any Key Obligor contained in      the Information Package (including, without limitation, the Borrower’s      Business Plan) has been prepared on the basis of assumptions considered      reasonable and was (as at the date of the relevant report or document      containing the projection or forecast) arrived at after careful      consideration; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      expressions of opinion or intention relating to any Key Obligor provided      by or on behalf of an Obligor for the purposes of the Information Package      (including, without limitation, the Borrower’s Business Plan) which are      contained in the Information Package were made after careful      consideration; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | to      the best of its knowledge and belief, no event or circumstance has      occurred or arisen and no information has been omitted from the      Information Package and no information has been given or withheld that      results in the information, forecasts or projections relating to the Group      or the Parent Group contained in the Information Package being untrue or      misleading in any material respect;and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | all      other factual written information relating to the Group or the Parent      Group provided by any member of the Parent Group to a Finance Party or the      provider of the Valuation Report was true and accurate in all material      respects as at the date it was provided and is not misleading in any      material respect as at that date. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.13 | Original      Financial Statements |
|-------|------------------------------------|

|   | (a) | In      relation to Obligors other than the Dutch Guarantors, its Original      Financial Statements were prepared in accordance with the Accounting      Principles consistently applied. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | In      relation to Obligors other than the Dutch Guarantors, its unaudited      Original Financial Statements fairly represent its financial condition and      results of operations (consolidated in the case of the Borrower and the      Parent) for the relevant period. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | In      relation to Obligors other than the Dutch Guarantors, its audited Original      Financial Statements (other than the Parent) give a true and fair view of      its financial condition and results of operations, and in the case of the      Parent, fairly present its financial condition and results of operations      (consolidated in the case of the Borrower and the Parent) during the      relevant financial year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | There      has been no material adverse change in its assets, business or financial      condition since the date of the Original Financial    Statements. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Its      most recent financial statements delivered pursuant to Clause 22.1      (Financial      Statements): |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (i) | have      been prepared in accordance with the Accounting Principles as applied to      the Original Financial Statements;and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | give      a true and fair view of in the case of an Obligor (other than the Parent)      or fairly present in the case of the Parent (if audited) or fairly      represent (if unaudited) its consolidated financial condition as at the      end of, and consolidated results of operations for, the period to which      they relate. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | The      forecasts supplied under this Agreement were arrived at after careful      consideration and have been prepared on the basis of assumptions      considered reasonable as at the date they were prepared and      supplied. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | In      relation to Dutch Guarantors, its Original Dutch Filings have been      prepared in accordance with Dutch statutory  requirements. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

| 21.14 | No      proceedings pending or threatened |
|-------|-------------------------------------------|

|   | (a) | No      litigation, arbitration or administrative proceedings or investigations      of, or before, any court, arbitral body or agency have (to the best of its      knowledge and belief (having made due and careful enquiry)) been started      against it or any member of the Parent Group  which: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | are      not a Disclosed Litigation; and |
|--------|-----|------------------------------------------|

|   | (ii) | allege      liability in the amount exceeding in aggregate at any one time (a) USD      5,000,000 (or its equivalent in other currency or currencies) for any      individual member of the Group, or (b) USD 25,000,000 (or its equivalent      in other currency or currencies) for the Parent Group as a      whole. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.15 | No      breach of laws |
|-------|------------------------|

|   | (a) | Neither      it, nor any other member of the Group has breached any law or regulation      which breach has or is reasonably likely to have a Material Adverse      Effect. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      labour disputes are current or, to the best of its knowledge and belief      (having made due and careful enquiry), threatened against any member of      the Group which have or are reasonably likely to have a Material Adverse      Effect. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.16 | Environmental      laws |
|-------|-------------------------|

|   | (a) | Each      member of the Group is in compliance with Clause 24.3 (Environmental      compliance) and to the best of its knowledge and belief no      circumstances have occurred which would prevent such compliance in a      manner or to an extent which has or is reasonably likely to have a      Material Adverse Effect. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      Environmental Claim has been commenced or (to the best of its knowledge      and belief) is threatened against any member of the Group where that claim      has or is reasonably likely, if determined against that member of the      Group, to have a Material AdverseEffect. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.17 | Taxation |
|-------|----------|

|   | (a) | Neither      it, nor any other member of the Group is materially overdue in the filing      of any Tax returns or in the payment of any amount in respect of Tax of      CZK 1,000,000 (or its equivalent in any other currency) or      more. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      claims or investigations are being made or conducted against it or any      other member of the Group with respect to Taxes except (i) those for which      adequate reserves have been made and which are being contested in good      faith by appropriate proceedings which are being diligently conducted, or      (ii) such that a liability of, or claim against it of CZK 10,000,000 (or      its equivalent in any other currency) or less has been    made. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.18 | Security      and Financial Indebtedness |
|-------|------------------------------------------|

|   | (a) | No      Security or Quasi-Security exists over all or any of the present or future      assets of any other member of the Group other than as permitted by this      Agreement. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Neither      it, nor any other member of the Group has any Financial Indebtedness      outstanding other than as permitted by this Agreement other than Permitted      Financial Indebtedness. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.19 | Ranking |
|-------|---------|

| 21.20 | Good      title to assets |
|-------|---------------------------|

| 21.21 | Legal      and beneficial ownership |
|-------|-------------------------------------|

| 21.22 | Shares |
|-------|--------|

| 21.23 | Intellectual      Property |
|-------|----------------------------|

|   | (a) | is      the sole legal and beneficial owner of or has licensed to it on normal      commercial terms all the Intellectual Property which is material in the      context of its business and which is required by it in order to carry on      its business as it is being conducted and as contemplated in the Business      Plan; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | does      not infringe any Intellectual Property of any third party in any respect;      and |
|--------|-----|----------------------------------------------------------------------------------------------|

|   | (c) | has      taken all formal or procedural actions (including payment of fees)      required to maintain any material Intellectual Property owned by      it, |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.24 | Centre      of main interests andestablishments |
|-------|-------------------------------------------------|

| 21.25 | No      adverse consequences |
|-------|------------------------------|

|   | (a) | Subject      to the Legal Reservations, it is not necessary under the laws of its      Relevant Jurisdictions: |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

|   | (i) | in      order to enable any Finance Party to enforce its rights under any Finance      Document; or |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | (ii) | by      reason of the execution of any Finance Document or the performance by it      of its obligations under any FinanceDocument, |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Subject      to the Legal Reservations, no Finance Party is or will be deemed to be      resident, domiciled or carrying on business in its Relevant Jurisdictions      by reason only of the execution, performance and/or enforcement of any      Finance Document. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.26 | Pension      Plans |
|-------|--------------------|

| 21.27 | Immunity |
|-------|----------|

|   | (a) | Neither      it, nor any other member of the Group has the benefit of any immunity in      respect of itself or its assets or revenues in any jurisdiction, including      any immunity in respect of: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      giving of any relief by way of injunction or order for specific      performance or for the recovery of assets or revenues;  or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      issue of any process against its assets or revenues for the enforcement of      a judgment or, in an action in rem, for the arrest,      detention or sale of any of its assets and  revenues. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Obligor and each other member of the Group is subject to private and      commercial law, and has entered into the Finance Documents to which it is      party (or will enter into the Finance Documents to which it intends to be      party) as private and commercialacts. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 21.28 | Group      Structure Chart |
|-------|----------------------------|

|   | (a) | The      Group Structure Chart is true, complete and accurate in all material      respects and shows the followinginformation: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | each      Obligor, each other member of the Group, in each case including current      name and company registration number, its jurisdiction of incorporation      and/or establishment, and in relation to members of the Group also a list      of shareholders and indication of whether the relevant member of the Group      is a company with limited liability;and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | all      minority interests in any member of the Group and any person in which any      member of the Group holds shares in its issued share capital or equivalent      ownership interest of such person. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | All      Inter-Group Loans and all Intra-Group Loans as at the date of this      Agreement are set out in the Group Structure Chart and have been or will      be taken in compliance with all relevant laws and regulations and all      requirements of relevant regulatoryauthorities. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.29 | No      Change of Control |
|-------|---------------------------|

| 21.30 | Times      when representations made |
|-------|--------------------------------------|

|   | (a) | All      the representations and warranties in this Clause 21 are made by each      Original Obligor on the date of thisAgreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Repeating Representations are deemed to be made by each Obligor on the      date of each Utilisation Request, on each Utilisation Date and on the      first day of each Interest Period. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | All      the Repeating Representations are deemed to be made by each Additional      Obligor on the day on which it becomes (or it is proposed that it becomes)      an Additional Obligor. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Each      representation or warranty deemed to be made after the date of this      Agreement shall be deemed to be made by reference to the facts and      circumstances existing at the date the representation or warranty is      deemed to be made. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22. | INFORMATION      UNDERTAKINGS |
|-----|-------------------------------|

----

| 22.1 | Financial      statements |
|------|---------------------------|

|   | (a) | as      soon as they are available, but in any event within 120 days after the end      of the Financial Year: |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

|   | (i) | the      audited stand-alone financial statements of each Key Obligor for that      Financial Year; |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | (ii) | the      audited consolidated financial statements of the Borrower (including, for      the avoidance of doubt, Markiza) and the Parent for that Financial Year;      and |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | as      soon as they are available, but in any event within 60 days (or in      relation to any financial statements of the Borrower for a Financial      Quarter ending on 31 December, 90 days) after the end of the Financial      Quarter: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      unaudited stand-alone financial statements of the Borrower for that      Financial Quarter; and |
|--------|-----|----------------------------------------------------------------------------------------------------------|

|   | (ii) | the      unaudited consolidated financial statements of the Borrower (including,      for the avoidance of doubt, Markiza) and the Parent for that Financial      Quarter (excluding in relation to the Parent only the financial statements      for any Financial Quarter ending on 31  December). |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.2 | Provision      and contents of ComplianceCertificate |
|------|------------------------------------------------------|

|   | (a) | The      Borrower shall supply a Compliance Certificate to the Facility Agent with      each set of its audited consolidated Annual Financial Statements and each      set of its consolidated Quarterly Financial  Statements. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Compliance Certificate shall, amongst other things, set out (in reasonable      detail) computations as to compliance with Clause 23 (Financial      Covenants). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      Compliance Certificate shall be signed by two statutory executives of the      Borrower. |
|--------|-----|----------------------------------------------------------------------------------------------------|

| 22.3 | Requirements      as to financial statements |
|------|----------------------------------------------|

|   | (a) | The      Parent and the Borrower shall procure that each set of Annual Financial      Statements and Quarterly Financial Statements includes a balance sheet,      profit and loss account and cashflow statement.  In addition the      Parent and the Borrower shall procurethat: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | each      set of Annual Financial Statements shall be audited by the Auditors;      and |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | (ii) | each      set of Annual Financial Statements of the Borrower shall be accompanied by      a cashflow forecast in respect of the Borrower relating to the 12-month      period commencing at the end of the relevant Financial    Year. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      set of financial statements delivered pursuant to Clause 22.1 (Financial      statements): |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

|   | (i) | shall      be certified by a director (in case of the financial statements of the      Parent) or a statutory executive (in case of the financial statements of      the Borrower) of any Obligor (other than the Parent) as giving a true and      fair view of, and in the case of the Parent, fairly present (in the case      of Annual Financial Statements for any Financial Year), or fairly      representing (in other cases), in all material respects its financial      condition and operations as at the date as at which those financial      statements were drawn up and, in the case of the Annual Financial      Statements, shall be accompanied by any letter addressed to the management      of the relevant company by the Auditors and accompanying those Annual      Financial Statements; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | shall      be prepared using the Accounting Principles, and using further accounting      practices and financial reference periods consistent with those      applied: |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (A) | in      the case of the Borrower, in the preparation of the Original Financial      Statements and the Borrower’s Business Plan;and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B) | in      the case of the Parent, in the preparation of its Original Financial      Statements, |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (C) | a      description of any change necessary for those financial statements to      reflect the Accounting Principles or accounting practices upon which the      Borrower’s Business Plan or, as the case may be, relevant Original      Financial Statements were prepared;and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (D) | sufficient      information, in form and substance as may be reasonably required by the      Facility Agent, to enable the Lenders to determine whether Clause 23      (Financial      covenants) has been complied with and to make an accurate      comparison between the financial position indicated in those financial      statements and the Borrower’s Business Plan (in the case of the Borrower      only) and/or Original FinancialStatements. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | If      the Facility Agent wishes to discuss the financial position of any Obligor      with the Auditors, the Facility Agent may notify the Borrower and Parent,      stating the questions or issues which the Facility Agent wishes to discuss      with the Auditors.  In this event, the Borrower and the Parent      must ensure that the Auditors are authorised (at the expense of the      Borrower) at reasonable times and on reasonable  notice: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      discuss the financial position of the relevant Obligor with the Facility      Agent on request from the Facility Agent;and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | to      disclose to the Facility Agent for the Finance Parties any information      which the Facility Agent may reasonablyrequest. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------|

| 22.4 | Presentations |
|------|---------------|

| 22.5 | Year-end |
|------|----------|

| 22.6 | Information:  miscellaneous |
|------|---------------------------------------|

|   | (a) | at      the same time as they are dispatched, copies of all documents (i)      dispatched by the Parent to its shareholders generally (or any class of      them), (ii) dispatched by the Borrower to its shareholders pursuant      to mandatory provisions of Czech law, or (iii) dispatched by the Parent or      the Borrower to their respective creditors generally (or any class of      them); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | promptly      upon becoming aware of them, the details of any litigation, arbitration or      administrative proceedings which are current or pending against any      Obligor or any member of the Parent Group, and (i) which, if adversely      determined, are reasonably likely to have a Material Adverse Effect, or      (ii) which would involve a liability, or a potential or alleged      liability, exceeding in aggregate at any one time USD 25,000,000 (or its      equivalent in any other currencies) for the Parent Group or USD 5,000,000      (or its equivalent in any other currencies for the  Group; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | promptly,      such information as the Security Agent may reasonably require about the      Charged Property and compliance of the Obligors with the terms of any      Transaction Security Documents; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | promptly      on request, such further information regarding the financial condition,      assets and operations of the Group and/or any other Obligor as any Finance      Party through the Facility Agent may reasonably  request. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.7 | Notification      of default |
|------|------------------------------|

|   | (a) | Each      Obligor shall notify the Facility Agent of any Default (and the steps, if      any, being taken to remedy it) promptly upon becoming aware of its      occurrence (unless that Obligor is aware that a notification has already      been provided by another Obligor). |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Promptly      upon a request by the Facility Agent, the Borrower shall supply to the      Facility Agent a certificate signed by two of its statutory executives on      its behalf certifying that no Default is continuing (or if a Default is      continuing, specifying the Default and the steps, if any, being taken to      remedy it). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.8 | “Know      your customer” checks |
|------|----------------------------------------------|

|   | (a) | If: |
|--------|-----|-----|

|   | (i) | the      introduction of or any change in (or in the interpretation, administration      or application of) any law or regulation made after the date of this      Agreement; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      change in the status of an Obligor or the composition of the shareholders      of an Obligor after the date of this Agreement;  or |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | a      proposed assignment or transfer by a Lender of any of its rights and/or      obligations under this Agreement to a party that is not a Lender prior to      such assignment or transfer, |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | Each      Lender shall promptly upon the request of the Facility Agent supply, or      procure the supply of, such documentation and other evidence as is      reasonably requested by the Facility Agent (for itself) in order for the      Facility Agent to carry out and be satisfied it has complied with all      necessary “know your customer” or other similar checks under all      applicable laws and regulations pursuant to the transactions contemplated      in the Finance Documents. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Parent shall, by not less than 10 Business Days’ prior written notice      to the Facility Agent, notify the Facility Agent (which shall promptly      notify the Lenders) of its intention to request that one of its      Subsidiaries becomes an Additional Obligor pursuant to Clause 28      (Changes to the      Obligors). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Following      the giving of any notice pursuant to paragraph (c) above, if the      accession of such Additional Obligor obliges the Facility Agent or any      Lender to comply with “know your customer” or similar identification      procedures in circumstances where the necessary information is not already      available to it, the Parent shall promptly upon the request of the      Facility Agent or any Lender supply, or procure the supply of, such      documentation and other evidence as is reasonably requested by the      Facility Agent (for itself or on behalf of any Lender) or any Lender (for      itself or on behalf of any prospective new Lender) in order for the      Facility Agent or such Lender or any prospective new Lender to carry out      and be satisfied it has complied with all necessary “know your customer”      or other similar checks under all applicable laws and regulations pursuant      to the accession of such Subsidiary to this Agreement as an Additional      Obligor. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 23. | FINANCIAL      COVENANTS |
|-----|--------------------------|

| 23.1 | Financial      definitions |
|------|----------------------------|

|   | (a) | moneys      borrowed and debit balances at banks or other financial      institutions; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (b) | any      acceptances under any acceptance credit or bill discount facility (or      dematerialised equivalent); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (c) | any      note purchase facility or the issue of bonds (but not Trade Instruments),      notes, debentures, loan stock or any similar  instrument; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      Finance Lease; |
|--------|-----|-------------------------|

|   | (e) | receivables      sold or discounted (other than any receivables to the extent they are sold      on a non-recourse basis and meet any requirements for de-recognition under      the Accounting Principles); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (f) | any      counter-indemnity obligation in respect of a guarantee, bond, standby or      documentary letter of credit or any other instrument (but not, in any      case, Trade Instruments) issued by a bank or financial institution in      respect of (i) an underlying liability of an entity which is not a member      of the Group which liability would fall within one of the other paragraphs      of this definition or (ii) any liabilities of any member of the Group      relating to any post-retirement benefitscheme; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | any      amount raised by the issue of shares which are redeemable (other than at      the option of the issuer) before the Termination Date or are otherwise      classified as borrowings under the Accounting  Principles; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | any      amount of any liability under an advance or deferred purchase agreement if      (i) one of the primary reasons behind the entry into the agreement is      to raise finance or to finance the acquisition or construction of the      asset or service in question or (ii) the agreement is in respect of      the supply of assets or services and payment is due more than one hundred      and eighty (180) days after the date ofsupply; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      amount raised under any other transaction (including any forward sale or      purchase agreement, sale and sale back or sale and leaseback agreement)      having the commercial effect of a borrowing or otherwise classified as      borrowings under the Accounting Principles;and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | (without      double counting) the amount of any liability in respect of any guarantee      or indemnity for any of the items referred to in paragraphs (a) to      (i) above; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | adding      the amount of any decrease (and deducting the amount of any increase) in      Working Capital for that RelevantPeriod; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | adding      the amount of any cash receipts (and deducting the amount of any cash      payments) during that Relevant Period in respect of any Exceptional Items      not already taken account of in calculating EBITDA for any Relevant Period      ); |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | adding      the amount of any cash receipts during that Relevant Period in respect of      any Tax rebates or credits and deducting the amount actually paid or due      and payable in respect of Taxes during that Relevant Period by any member      of the Group; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | adding      (to the extent not already taken into account in determining EBITDA) the      amount of any dividends or other profit distributions received in cash by      any member of the Group during that Relevant Period from any entity which      is itself not a member of the Group and deducting (to the extent not      already deducted in determining EBITDA) the amount of any dividends paid      in cash during the Relevant Period to minority shareholders of members of      the Group and to the shareholders in the  Borrower; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | adding      the amount of any increase in provisions, other non-cash debits and other      non-cash charges (which are not Current Assets or Current Liabilities) and      deducting the amount of any non-cash credits (which are not Current Assets      or Current Liabilities) in each case to the extent taken into account in      establishing EBITDA; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | deducting      the amount of any Capital Expenditure actually made during that Relevant      Period by any member of the Group and the aggregate of any cash      consideration paid for, or the cash cost of, any Business Acquisitions and      the amount of any Joint Venture Investments in cash;  and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | deducting      the amount of any cash costs of Pension Items during that Relevant Period      to the extent not taken into account in establishing    EBITDA; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | receivables      in relation to Tax; |
|--------|-----|--------------------------------------|

|   | (b) | Exceptional      Items and other non-operatingitems; |
|--------|-----|------------------------------------------------------|

|   | (c) | insurance      claims; |
|--------|-----|------------------------|

|   | (d) | any      interest owing to any member of the Group;and |
|--------|-----|--------------------------------------------------------|

|   | (e) | any      amounts owed to any member of the Group under any Intra-Group Loan or any      Inter-Group Loan. |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

----

|   | (a) | liabilities      for Borrowings and Finance Charges, and any amounts in respect of any      Intra-Group Loan or any Inter-GroupLoan; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | liabilities      for Tax; |
|--------|-----|---------------------------|

|   | (c) | Exceptional      Items and other non-operatingitems; |
|--------|-----|------------------------------------------------------|

|   | (d) | insurance      claims; and |
|--------|-----|----------------------------|

|   | (e) | liabilities      in relation to dividends declared but not paid by any member of the Group      in favour of any person which is not a member of the  Group. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | Finance      Charges for that Relevant Period; |
|--------|-----|------------------------------------------------|

|   | (b) | the      aggregate of all scheduled and mandatory repayments of Borrowings falling      due and any voluntary prepayments made during that Relevant Period but      excluding: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      amounts falling due under any overdraft or revolving facility and which      were available for simultaneous redrawing according to the terms of that      facility; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      such obligations owed to the Borrower;and |
|--------|------|----------------------------------------------------|

|   | (iii) | any      prepayment of the Facility which is required to be repaid under the terms      of this Agreement; and |
|--------|-------|----------------------------------------------------------------------------------------------------------------|

|   | (c) | the      amount of the capital element of any payments in respect of that Relevant      Period payable under any Finance Lease entered into by the      Borrower, |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | before      deducting any      Finance Charges whether paid, payable or capitalised by any member of the      Group in respect of that RelevantPeriod; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | not      including any accrued interest owing to any member of the      Group; |
|--------|-----|--------------------------------------------------------------------------------|

|   | (c) | before      taking into account any ExceptionalItems; |
|--------|-----|-------------------------------------------------------|

|   | (d) | after      deducting the amount of any profit (or adding back the amount of any loss)      of any member of the Group which is attributable to minority      interests; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | before      taking into account any unrealised gains or losses on any derivative      instrument (other than any derivative instrument which is accounted for on      a hedge accounting basis); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | before      taking into account any gain or loss arising from an upward or downward      revaluation of any other asset at any time after 31 March      2009; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (g) | before      taking into account any PensionItems; |
|--------|-----|---------------------------------------------------|

|   | (h) | excluding      the charge to profit represented by the expensing of stock options;      and |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (a) | the      restructuring of the activities of an entity and reversals of any      provisions for the cost ofrestructuring; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (b) | disposals,      revaluations or impairment of non-current assets;  and |
|--------|-----|------------------------------------------------------------------------|

|   | (c) | disposals      of assets associated with discontinued  operations. |
|--------|-----|--------------------------------------------------------------------|

|   | (a) | including      any upfront fees or costs which are included as part of the effective      interest rate adjustments; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (b) | including      the interest (but not the capital) element of payments in respect of      Finance Leases; |
|--------|-----|----------------------------------------------------------------------------------------------------------|

|   | (c) | including      any commission, fees, discounts and other finance payments payable by (and      deducting any such amounts payable to) any member of the Group under any      interest rate hedging arrangement; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | excluding      any interest cost or expected return on plan assets in relation to any      post-employment benefit schemes; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

|   | (e) | taking      no account of any unrealised gains or losses on any derivative instruments      other than any derivative instruments which are accounted for on a hedge      accounting basis; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | including      any cash dividends or distributions paid, or any payments (including any      loans/advances provided, repayment and/or prepayment of principal amounts      and payment of interest) under any Inter-Group Loan (but excluding any      amounts in respect of interest accrued on the principal amounts of any      Inter-Group Loans, to the extent that such principal amounts do not exceed      those outstanding as at the date of this Agreement) by a member of the      Group in respect of that RelevantPeriod. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | the      aggregate of Loans outstanding at thatdate; |
|--------|-----|------------------------------------------------------|

|   | (b) | the      aggregate Financial Indebtedness outstanding at that date under the      Factoring Facility Agreement; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      aggregate amount of Permitted Financial Indebtedness outstanding at that      date which is permitted to be subject to  Security. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

| 23.2 | Financial      condition |
|------|--------------------------|

|   | (a) | Cashflow      Cover:  Cashflow Cover in respect of any Relevant Period      shall not be less than 1.75:1. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (b) | Interest      Cover:  Interest Cover in respect of any Relevant Period      shall not be less than 5.00:1. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (c) | Senior Secured      Leverage:  Senior Secured Leverage in respect of any      Relevant Period shall not exceed2.30:1. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

----

| 23.3 | Financial      testing |
|------|------------------------|

| 24. | GENERAL      UNDERTAKINGS |
|-----|---------------------------|

| 24.1 | Authorisations |
|------|----------------|

|   | (a) | obtain,      comply with and do all that is necessary to maintain in full force and      effect; and |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (b) | supply      certified copies to the Facility Agentof, |
|--------|-----|-------------------------------------------------------|

|   | (i) | enable      it to perform its obligations under the Finance  Documents; |
|--------|-----|-------------------------------------------------------------------------|

|   | (ii) | ensure      the legality, validity, enforceability or admissibility in evidence of any      Finance Document (subject to any necessary translation of such Finance      Documents and notarisation of any such translation);  and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | carry      on its business where failure to do has or, in the reasonable opinion of      the Majority Lender, is likely to have a Material Adverse      Effect. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.2 | Compliance      with laws |
|------|---------------------------|

----

| 24.3 | Environmental      compliance |
|------|-------------------------------|

|   | (a) | comply      with all Environmental Law; |
|--------|-----|-----------------------------------------|

|   | (b) | obtain,      maintain and ensure compliance with all requisite Environmental      Permits; |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | (c) | implement      procedures to monitor compliance with and to prevent liability under any      Environmental Law, |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

| 24.4 | Environmental      claims |
|------|---------------------------|

|   | (a) | any      Environmental Claim against it or any other member of the Group which is      current, pending or threatened; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      facts or circumstances which are reasonably likely to result in any      Environmental Claim being commenced or threatened against it or any other      member of the Group, |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.5 | Taxation |
|------|----------|

|   | (a) | Each      Key Obligor shall (and each Key Obligor shall procure that each other      member of the Group will) pay and discharge all Taxes imposed upon it or      its assets within the time period allowed without incurring penalties      unless and only to the extent that: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | such      payment is being contested in goodfaith; |
|--------|-----|----------------------------------------------------|

|   | (ii) | adequate      reserves are being maintained for those Taxes and the costs required to      contest them which have been disclosed in its latest financial statements      delivered to the Facility Agent under Clause 22.1 (Financial statements);      and |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | such      payment can be lawfully withheld and failure to pay those Taxes does not      have or is not reasonably likely to have a Material Adverse      Effect. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 24.6 | Merger |
|------|--------|

| 24.7 | Change      of business |
|------|-------------------------|

| 24.8 | Acquisitions |
|------|--------------|

|   | (a) | Except      as permitted under paragraph (b) below, no Key Obligor shall (and      each Key Obligor shall procure that no other member of the Group      will): |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | acquire      a company or any shares or securities or a business or undertaking (or, in      each case, any interest in any of them);or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | incorporate      a company. |
|--------|------|-----------------------------|

|   | (b) | Paragraph (a)      above does not apply to an acquisition of a company, of shares, securities      or a business or undertaking (or, in each case, any interest in any of      them) or the incorporation of a company which  is: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | a      Permitted Acquisition; or |
|--------|-----|----------------------------------|

|   | (ii) | a      Permitted Transaction. |
|--------|------|-------------------------------|

| 24.9 | Joint      ventures |
|------|---------------------|

|   | (a) | Except      as permitted under paragraph (b) below, no Key Obligor shall (and      each Key Obligor shall procure that no other member of the Group      will): |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | enter      into, invest in or acquire (or agree to acquire) any shares, stocks,      securities or other interest in any Joint Venture;  or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | transfer      any assets or lend to or guarantee or give an indemnity for or give      Security for the obligations of a Joint Venture or maintain the solvency      of or provide working capital to any Joint Venture (or agree to do any of      the foregoing). |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      above does not apply to any acquisition of (or agreement to acquire) any      interest in a Joint Venture or transfer of assets (or agreement to      transfer assets) to a Joint Venture or loan made to or guarantee (or      agreement to loan or guarantee) given in respect of the obligations of a      Joint Venture if such transaction is a Permitted Acquisition, a Permitted      Disposal, a Permitted Loan or a Permitted Joint  Venture. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 24.10 | Preservation      of assets |
|-------|-----------------------------|

| 24.11 | Pari      passu ranking |
|-------|-------------------------|

| 24.12 | Negative      pledge |
|-------|----------------------|

|   | (a) | No      Key Obligor shall (and each Key Obligor shall procure that no other member      of the Group will) create or permit to subsist any Security over any of      its assets. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      Key Obligor shall (and each Key Obligor shall procure that no other member      of the Group will): |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (i) | sell,      transfer or otherwise dispose of any of its assets on terms whereby they      are or may be leased to or re-acquired byit; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | sell,      transfer or otherwise dispose of any of its receivables on recourse      terms; |
|--------|------|--------------------------------------------------------------------------------------------|

|   | (iii) | enter      into any arrangement under which money or the benefit of a bank or other      account may be applied, set-off or made subject to a combination of      accounts; or |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | enter      into any other preferential arrangement having a similar      effect, |
|--------|------|----------------------------------------------------------------------------------|

----

|   | (c) | Neither      CME Media Enterprises B.V., nor CME Romania B.V. shall (and the Parent      shall ensure that no other person which becomes the owner of any shares of      the Borrower after the date of this Agreement will) create or permit to      subsist any Security or Quasi-Security over any shares of the      Borrower. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Paragraphs (a)      and (b) above do not apply to any Security or (as the case may be)      Quasi-Security, which is: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (i) | Permitted      Security; or |
|--------|-----|-----------------------------|

|   | (ii) | a      Permitted Transaction. |
|--------|------|-------------------------------|

| 24.13 | Disposals |
|-------|-----------|

|   | (a) | Except      as permitted under paragraph (b) below, no Key Obligor shall (and      each Key Obligor shall procure that no other member of the Group will)      enter into a single transaction or a series of transactions (whether      related or not) and whether voluntary or involuntary to sell, lease,      transfer or otherwise dispose of anyasset. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      above does not apply to any sale, lease, transfer or other disposal which      is or part of: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (i) | a      Permitted Disposal; or |
|--------|-----|-------------------------------|

|   | (ii) | a      Permitted Transaction. |
|--------|------|-------------------------------|

| 24.14 | Arm’s      length basis |
|-------|-------------------------------|

|   | (a) | Except      as permitted by paragraph (b) below, no Key Obligor shall (and each      Key Obligor shall procure that no other member of the Group will) enter      into any transaction with any Affiliate (other than a member of the Group)      except on arm’s length terms for marketvalue. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      following transactions shall not be a breach of this      Clause 24.14: |
|--------|-----|---------------------------------------------------------------------------------------|

|   | (i) | Intra-Group      Loans and Inter-Group Loans permitted under Clause 24.15 (Loans or      credit); |
|--------|-----|--------------------------------------------------------------------------------------------------------|

|   | (ii) | fees,      costs and expenses payable under the Finance Documents in the amounts set      out in the Finance Documents delivered to the Facility Agent under      Clause 4.1 (Initial      conditions precedent) or agreed by the Facility    Agent; |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      Permitted Transaction; and |
|--------|-------|-------------------------------------|

|   | (iv) | payments      in respect of management services, administration or other similar fees      and charges invoiced to or by any Key Obligor or member of the Group by or      to any Affiliate of any member of the Group, where the aggregate of such      payments made by the members of the Group does not exceed CZK 100,000,000      (or its equivalent in any currencies) in any Financial Year, provided that promptly      upon request of the Facility Agent, the Borrower shall provide to the      Facility Agent  a reasonably detailed summary (including,      without limitation, any information regarding such payments requested by,      or actually provided by the members of the Group to, their respective      auditors) of all such payments made under this paragraph (iv) during the      period set out in the request of the Facility Agent (such period not to      include any period for which the relevant information has already been      provided in form and substance satisfactory to the Facility Agent by the      Borrower in accordance with this  paragraph    (iv)). |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 24.15 | Loans      or credit |
|-------|----------------------|

|   | (a) | Except      as permitted under paragraph (b) below, no Key Obligor shall (and      each Key Obligor shall procure that no other member of the Group will) be      a creditor in respect of any Financial  Indebtedness. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      above does not apply to: |
|--------|-----|--------------------------------------------------|

|   | (i) | a      Permitted Loan; or |
|--------|-----|---------------------------|

|   | (ii) | a      Permitted Transaction. |
|--------|------|-------------------------------|

| 24.16 | No      Guarantees or indemnities |
|-------|-----------------------------------|

|   | (a) | Except      as permitted under paragraph (b) below, no Key Obligor shall (and      each Key Obligor shall procure that no other member of the Group will)      incur or allow to remain outstanding any guarantee in respect of any      obligation of any person. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      does not apply to a guarantee which is partof: |
|--------|-----|------------------------------------------------------------------------|

|   | (i) | a      Permitted Guarantee; or |
|--------|-----|--------------------------------|

|   | (ii) | a      Permitted Transaction. |
|--------|------|-------------------------------|

| 24.17 | Financial      Indebtedness |
|-------|-----------------------------|

|   | (a) | Except      as permitted under paragraph (b) below, no Key Obligor shall (and      each Key Obligor shall procure that no other member of the Group will)      incur or allow to remain outstanding any Financial      Indebtedness. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Paragraph (a)      above does not apply to Financial Indebtedness which is part      of: |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (i) | Permitted      Financial Indebtedness; or |
|--------|-----|-------------------------------------------|

|   | (ii) | a      Permitted Transaction. |
|--------|------|-------------------------------|

----

| 24.18 | Share      capital |
|-------|--------------------|

|   | (a) | a      Permitted Share Issue; or |
|--------|-----|----------------------------------|

|   | (b) | a      Permitted Transaction. |
|--------|-----|-------------------------------|

| 24.19 | Insurance |
|-------|-----------|

|   | (a) | Each      Key Obligor shall (and each Key Obligor shall procure that each other      member of the Group will) maintain insurances on and in relation to its      business and material assets against those risks which a reasonable and      prudent operator of the same or substantially similar business would      consider prudent and to the extent as is usual for companies carrying on      the same or substantially similarbusiness. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Without      affecting the generality of paragraph (a) above, each Key Obligor shall      (and each Key Obligor shall procure that each other member of the Group      will) maintain the RequiredInsurances. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | All      insurances must be with independent insurance companies or underwriters      which a reasonable and prudent operator of the same or substantially      similar business as the business of the Borrower would consider to be      reputable. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.20 | Access |
|-------|--------|

| 24.21 | Intellectual      Property |
|-------|----------------------------|

|   | (a) | Each      Key Obligor shall (and each Key Obligor shall procure that each other      member of the Group will): |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (i) | preserve      and maintain the subsistence and validity of the Intellectual Property      necessary for its respectivebusiness; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | use      reasonable endeavours to prevent any infringement in any material respect      of the Intellectual Property byit; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|

----

|   | (iii) | make      registrations and pay all registration fees and taxes necessary to      maintain the Intellectual Property in full force and effect and record its      interest in that IntellectualProperty; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | not      use or permit the Intellectual Property to be used in a way or take any      step or omit to take any step in respect of that Intellectual Property      which may materially and adversely affect the existence or value of the      Intellectual Property or imperil the right of the Borrower or Markiza, as      applicable, to use such property;and |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | not      discontinue the use of the Intellectual  Property, |
|--------|-----|-------------------------------------------------------------|

|   | (b) | Failure      to comply with any part of paragraph (a) above shall not be a breach      of this Clause 24.21 to the extent that any dealing with Intellectual      Property which would otherwise be a breach of paragraph (a) is      contemplated by the definition of Permitted  Transaction. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.22 | Amendments |
|-------|------------|

|   | (a) | No      Obligor shall amend, vary, novate, supplement, supersede, waive or      terminate any term of a Transaction Document or any other document      delivered to the Facility Agent pursuant to Clause 4.1 (Initial conditions      precedent) or Clause 28 (Changes to the      Obligors) or enter into any agreement with any shareholders of any      member of the Group which is not a member of the Group except in      writing: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | in      accordance with the provisions of Clause 38 (Amendments and      Waivers); |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | (ii) | to      the extent that that amendment, variation, novation, supplement,      superseding, waiver or termination is permitted by this Agreement or in      writing by the Facility Agent (acting on instruction of the Majority      Lenders); or |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | in      a way which could not be reasonably expected materially and adversely to      affect the interests of theLenders. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Parent and/or the Borrower shall promptly supply to the Facility Agent a      copy of any document relating to any of the matters referred to in      paragraphs (i) to (iii) above. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.23 | Financial      assistance |
|-------|---------------------------|

----

| 24.24 | Borrower’s      accounts |
|-------|--------------------------------|

|   | (a) | The      Borrower shall ensure that all banking accounts of the Borrower      (i) be opened and maintained with the Facility Agent, other Finance      Party or another bank approved in writing by the Facility Agent and (ii)      be subject to valid Security under the Transaction Security      Documents. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      failure to comply with paragraph (a) shall not be a breach of this Clause      24.24 to the extent that the Borrower has opened with Bank Mendes Gans nv      the cash-pooling accounts Nos.: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (A) | NL80BKMG0261081985      (in CZK); |
|--------|-----|-----------------------------------|

|   | (B) | NL96BKMG0261092367      (in EUR); |
|--------|-----|-----------------------------------|

|   | (C) | NL70BKMG0261102923      (in USD); |
|--------|-----|-----------------------------------|

|   | (c) | The      failure to comply with paragraph (a)(i) shall not be a breach of this      Clause 24.24 to the extent that: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (i) | for      the period of not more than 3 calendar months from the date of this      Agreement, the Borrower will have opened with Raiffeisenbank a.s., a      joint-stock company established under the laws of the Czech Republic,      having its registered office at Prague 4, Hvězdova      1716/2b, Postal Code: 140 78, Business Identification No.:      49240901, registered in the Commercial Register maintained by the      Municipal Court in Prague, Section B., File 2051, the accounts      Nos.: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (A) | 166557837/5500      (in CZK); |
|--------|-----|-------------------------------|

|   | (B) | 166557837/5500      (in EUR); |
|--------|-----|-------------------------------|

|   | (C) | 166557837/5500      (in USD); and |
|--------|-----|-----------------------------------|

|   | (D) | 158607304/5500      (in CZK); and |
|--------|-----|-----------------------------------|

|   | (ii) | the      Borrower has opened with Slovenská      sporiteľňa, a.s., a joint-stock company established under the laws of      the Slovak Republic, having its registered office at Bratislava,      Tomášikova 48, Postal Code: 832 37, Business Identification No.: 00 151      653, registered in the Commercial Register maintained by the District      Court in Bratislava, Section Sa, File 601/B., the accounts      Nos.: |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (A) | SK7909000000000633651954      (in CZK); and |
|--------|-----|---------------------------------------------|

|   | (B) | SK040900000000633651946      (in EUR). |
|--------|-----|----------------------------------------|

----

| 24.25 | Treasury      Transactions |
|-------|----------------------------|

|   | (a) | the      hedging transactions documented by the Hedging Agreements;    and |
|--------|-----|----------------------------------------------------------------------------|

|   | (b) | spot      and forward delivery foreign exchange and interest rate contracts entered      into in the ordinary course of its business as conducted on the date of      this Agreement and not for speculativepurposes. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.26 | Compliance      with Hedging Letter |
|-------|-------------------------------------|

| 24.27 | Further      assurance |
|-------|------------------------|

|   | (a) | Each      Obligor providing Transaction Security shall promptly do all such acts or      execute all such documents (including assignments, transfers, mortgages,      charges, notices and instructions) as the Security Agent may reasonably      specify (and in such form as the Security Agent may reasonably require in      favour of the Security Agent or itsnominee(s)): |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      perfect the Security created or intended to be created under or evidenced      by the Transaction Security Documents (which may include the execution of      a mortgage, charge, assignment or other Security over all or any of the      assets which are, or are intended to be, the subject of the Transaction      Security) or for the exercise of any rights, powers and remedies of the      Security Agent or the Finance Parties provided by or pursuant to the      Finance Documents or by law; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | to      confer on the Security Agent or confer on the Finance Parties Security      over any property and assets of that Obligor located in any jurisdiction      equivalent or similar to the Security intended to be conferred by or      pursuant to the Transaction Security Documents;  and/or |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | to      facilitate the realisation of the assets which are, or are intended to be,      the subject of the TransactionSecurity. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Obligor providing Transaction Security shall take all such action as is      available to it (including making all filings and registrations) as may be      necessary for the purpose of the creation, perfection, protection or      maintenance of any Security conferred or intended to be conferred on the      Security Agent or the Finance Parties by or pursuant to the Finance      Documents. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 24.28 | Syndication |
|-------|-------------|

| 24.29 | Conditions      subsequent |
|-------|----------------------------|

| 24.30 | Parent      Undertaking |
|-------|-------------------------|

| 24.31 | Additional      Guarantors |
|-------|----------------------------|

| 25. | EVENTS      OF DEFAULT |
|-----|------------------------|

| 25.1 | Non-payment |
|------|-------------|

|   | (a) | its      failure to pay is caused by: |
|--------|-----|---------------------------------------|

|   | (i) | administrative      or technical error; or |
|--------|-----|--------------------------------------------|

|   | (ii) | a      Disruption Event; and |
|--------|------|------------------------------|

|   | (b) | payment      is made within 3 Business Days of its due  date. |
|--------|-----|--------------------------------------------------------------------|

----

| 25.2 | Financial      covenants |
|------|--------------------------|

| 25.3 | Information      undertakings, general undertakings and Transaction Security      Documents |
|------|---------------------------------------------------------------------------------------------|

|   | (a) | An      Obligor does not comply with the provisions of Clause 22 (Information      Undertakings) and/or Clause 24 (General Undertakings)      and/or with any material provision of any Transaction Security      Document. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      Event of Default under paragraph (a) above will occur if the failure      to comply is capable of remedy and is remedied within 10 Business Days of      the earlier of (i) the Facility Agent giving notice to the Borrower      or relevant Obligor and (ii) the Borrower or an Obligor becoming      aware of the failure to comply. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.4 | Other      obligations |
|------|------------------------|

|   | (a) | An      Obligor does not comply with any provision of the Finance Documents (other      than those referred to in Clause 25.1 (Non-payment), Clause      25.2 (Financial      covenants) and Clause 25.3 (Information undertakings,      general undertakings and Transaction Security      Documents)). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      Event of Default under paragraph (a) above will occur if the failure      to comply is capable of remedy and is remedied within 20 Business Days of      the earlier of (i) the Facility Agent giving notice to the Borrower      or relevant Obligor and (ii) the Borrower or an Obligor becoming      aware of the failure to comply. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.5 | Misrepresentation |
|------|-------------------|

| 25.6 | Cross      default |
|------|--------------------|

|   | (a) | Any      Financial Indebtedness of any Significant Subsidiary is not paid when due      nor within any originally applicable grace  period. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      Financial Indebtedness of any Significant Subsidiary is declared to be or      otherwise becomes due and payable prior to its specified maturity as a      result of an event of default (however  described). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Any      commitment for any Financial Indebtedness of any Significant Subsidiary is      cancelled or suspended by a creditor of any Significant Subsidiary as a      result of an event of default (however  described). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Any      creditor of any Significant Subsidiary becomes entitled to declare any      Financial Indebtedness of any Significant Subsidiary due and payable prior      to its specified maturity as a result of an event of default (however      described). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | No      Event of Default will occur under this Clause 25.6 if the      aggregate amount of Financial Indebtedness or commitment for Financial      Indebtedness falling within paragraphs (a) to (d) above is less than      USD 25,000,000 (or its equivalent in any other currency or currencies) in      aggregate for all SignificantSubsidiaries. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.7 | Insolvency |
|------|------------|

|   | (a) | An      Obligor is unable or admits inability to pay its debts as they fall due or      is deemed in any Relevant Jurisdiction to or declared to be unable to pay      its debts under applicable law, suspends or threatens to suspend making      payments on its financial indebtedness or, by reason of actual or      anticipated financial difficulties, commences negotiations with one or      more of its creditors with a view to rescheduling any of its financial      indebtedness. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      Obligor is insolvent in its jurisdiction of  incorporation. |
|--------|-----|----------------------------------------------------------------------|

|   | (c) | A      moratorium is declared in respect of any financial indebtedness of any      Obligor. If a moratorium occurs, the ending of the moratorium will by      itself not remedy any Event of Default caused by that      moratorium. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.8 | Insolvency      proceedings |
|------|-----------------------------|

|   | (a) | Any      corporate action, legal proceedings or other procedure or step is taken in      relation to: |
|--------|-----|-------------------------------------------------------------------------------------------------------|

|   | (i) | the      suspension of payments, a moratorium of any indebtedness, insolvency,      winding-up, dissolution, administration or reorganisation (by way of      voluntary arrangement, scheme of arrangement or otherwise) of any      Obligor; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | a      composition, compromise, assignment or arrangement with any creditor of      any Obligor by reason of financial difficulties of that      Obligor; |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      appointment of a liquidator, receiver, administrative receiver,      administrator, compulsory manager or other similar officer in respect of      any Obligor or any of its material assets;or |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | enforcement      of any Security over any material assets of any  Obligor, |
|--------|------|----------------------------------------------------------------------------|

----

|   | (b) | Paragraph (a)      shall not apply to: |
|--------|-----|---------------------------------------------|

|   | (i) | any      winding-up or bankruptcy petition or any other action, proceeding, step or      other procedure which is frivolous or vexatious and is discharged, stayed      or dismissed within 30 Business Days of commencement;  or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      action, proceeding, step or other procedure contemplated by paragraph (b)      or (d) of the definition of Permitted  Transaction. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------|

| 25.9 | Creditors’      process |
|------|-------------------------------|

| 25.10 | Unlawfulness      and invalidity |
|-------|----------------------------------|

|   | (a) | It      is or becomes unlawful for an Obligor to perform any of its payment or      reporting obligations or any other material undertakings under the Finance      Documents, or any Transaction Security created or expressed to be created      or evidenced by the Transaction Security Documents ceases to be      effective. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      obligation or obligations of any Obligor are not (subject to the Legal      Reservations) or cease to be legal, valid, binding or enforceable and the      cessation individually or cumulatively materially and adversely affects      the interests of the Lenders under the Finance  Documents. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Any      Finance Document ceases to be in full force and effect or any Transaction      Security ceases to be legal, valid, binding, enforceable or effective or      is alleged by a party to it (other than a Finance Party) to be      ineffective, in each case in any material  respect. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.11 | Cessation      of business |
|-------|----------------------------|

| 25.12 | Change      of ownership |
|-------|--------------------------|

| 25.13 | Expropriation |
|-------|---------------|

----

| 25.14 | Repudiation      and rescission of agreements |
|-------|-----------------------------------------------|

| 25.15 | Judgments      and arbitral awards |
|-------|------------------------------------|

| 25.16 | Authorisations |
|-------|----------------|

| 25.17 | Material      adverse change |
|-------|------------------------------|

| 25.18 | Acceleration |
|-------|--------------|

|   | (a) | cancel      the Total Commitments at which time they shall immediately be      cancelled; |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | (b) | declare      that all or part of the Loans, together with accrued interest, and all      other amounts accrued or outstanding under the Finance Documents be      immediately due and payable, at which time they shall become immediately      due and payable; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | declare      that all or part of the Loans be payable on demand, at which time they      shall immediately become payable on demand by the Facility Agent on the      instructions of the Majority Lenders;and/or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | exercise      or direct the Security Agent to exercise any or all of its rights,      remedies, powers or discretions under the Finance    Documents. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 26. | CHANGES      TO THE LENDERS |
|-----|-----------------------------|

| 26.1 | Assignments      and transfers by the Lenders |
|------|-----------------------------------------------|

|   | (a) | assign      any of its rights; or |
|--------|-----|-----------------------------------|

|   | (b) | transfer      by novation any of its rights andobligations, |
|--------|-----|-------------------------------------------------------------|

| 26.2 | Conditions      of assignment or transfer |
|------|-------------------------------------------|

|   | (a) | An      assignment will only be effectiveon: |
|--------|-----|----------------------------------------------|

|   | (i) | receipt      by the Facility Agent (whether in the Assignment Agreement or otherwise)      of written confirmation from the New Lender (in form and substance      satisfactory to the Facility Agent) that the New Lender will assume the      same obligations to the other Finance Parties and the other Secured      Parties as it would have been under if it was an Original Lender;      and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      performance by the Facility Agent of all necessary “know your customer” or      other similar checks under all applicable laws and regulations in relation      to such assignment to a New Lender, the completion of which the Facility      Agent shall promptly notify to the Existing Lender and the New      Lender. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      transfer will only be effective if the procedure set out in      Clause 26.5 (Procedure for transfer)      is complied with. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If: |
|--------|-----|-----|

|   | (i) | a      Lender assigns or transfers any of its rights or obligations under the      Finance Documents or changes its Facility Office;  and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | as      a result of circumstances existing at the date the assignment, transfer or      change occurs, an Obligor would be obliged to make a payment to the New      Lender or Lender acting through its new Facility Office under      Clause 16 (Increased      Costs), |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | Each      New Lender, by executing the relevant Transfer Certificate or Assignment      Agreement, confirms, for the avoidance of doubt, that the Facility Agent      has authority to execute on its behalf any amendment or waiver that has      been approved by or on behalf of the requisite Lender or Lenders in      accordance with this Agreement on or prior to the date on which the      transfer or assignment becomes effective in accordance with this Agreement      and that it is bound by that decision to the same extent as the Existing      Lender would have been had it remained aLender. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.3 | Assignment      or transfer fee |
|------|---------------------------------|

| 26.4 | Limitation      of responsibility of ExistingLenders |
|------|------------------------------------------------------|

|   | (a) | Unless      expressly agreed to the contrary, an Existing Lender makes no      representation or warranty and assumes no responsibility to a New Lender      for: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      legality, validity, effectiveness, adequacy or enforceability of the      Finance Documents, the Transaction Security or any other      documents; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      financial condition of any Obligor; |
|--------|------|----------------------------------------------|

|   | (iii) | the      performance and observance by any Obligor or any other member of the      Parent Group of its obligations under the Finance Documents or any other      documents; or |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | the      accuracy of any statements (whether written or oral) made in or in      connection with any Finance Document or any other  document, |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      New Lender confirms to the Existing Lender, the other Finance Parties and      the Secured Parties that it: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (i) | has      made (and shall continue to make) its own independent investigation and      assessment of the financial condition and affairs of each Obligor and its      related entities in connection with its participation in this Agreement      and has not relied exclusively on any information provided to it by the      Existing Lender or any other Finance Party in connection with any Finance      Document or the Transaction Security;and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | will      continue to make its own independent appraisal of the creditworthiness of      each Obligor and its related entities whilst any amount is or may be      outstanding under the Finance Documents or any Commitment is in      force. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Nothing      in any Finance Document obliges an Existing Lender  to: |
|--------|-----|----------------------------------------------------------------------|

|   | (i) | accept      a re-transfer or re-assignment from a New Lender of any of the rights and      obligations assigned or transferred under this Clause 26;      or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | support      any losses directly or indirectly incurred by the New Lender by reason of      the non-performance by any Obligor of its obligations under the Finance      Documents or otherwise. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.5 | Procedure      for transfer |
|------|-----------------------------|

|   | (a) | Subject      to the conditions set out in Clause 26.2 (Conditions of assignment or      transfer) a transfer is effected in accordance with      paragraph (c) below when the Facility Agent executes an otherwise      duly completed Transfer Certificate delivered to it by the Existing Lender      and the New Lender.  The Facility Agent shall, subject to      paragraph (b) below, as soon as reasonably practicable after receipt      by it of a duly completed Transfer Certificate appearing on its face to      comply with the terms of this Agreement and delivered in accordance with      the terms of this Agreement, execute that Transfer      Certificate. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Facility Agent shall only be obliged to execute a Transfer Certificate      delivered to it by the Existing Lender and the New Lender once it is      satisfied it has complied with all necessary “know your customer” or      similar checks under all applicable laws and regulations in relation to      the transfer to such New Lender. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Subject      to Clause 26.11 (Pro rata interest      settlement), on the TransferDate: |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (i) | to      the extent that in the Transfer Certificate the Existing Lender seeks to      transfer by novation its rights and obligations under the Finance      Documents and in respect of the Transaction Security each of the Obligors      and the Existing Lender shall be released from further obligations towards      one another under the Finance Documents and in respect of the Transaction      Security and their respective rights against one another under the Finance      Documents and in respect of the Transaction Security shall be cancelled      (being the “Discharged      Rights and Obligations”); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | each      of the Obligors and the New Lender shall assume obligations towards one      another and/or acquire rights against one another which differ from the      Discharged Rights and Obligations only insofar as that Obligor and the New      Lender have assumed and/or acquired the same in place of that Obligor and      the Existing Lender; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      Facility Agent, the Arranger, the Security Agent, the New Lender and the      other Lenders shall acquire the same rights and assume the same      obligations between themselves and in respect of the Transaction Security      as they would have acquired and assumed had the New Lender been an      Original Lender with the rights, and/or obligations acquired or assumed by      it as a result of the transfer and to that extent the Facility Agent, the      Arranger, the Security Agent and the Existing Lender shall each be      released from further obligations to each other under the Finance      Documents; and |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (iv) | the      New Lender shall become a Party as a“Lender”. |
|--------|------|--------------------------------------------------------------------|

| 26.6 | Procedure      for assignment |
|------|-------------------------------|

|   | (a) | Subject      to the conditions set out in Clause 26.2 (Conditions of assignment or      transfer) an assignment may be effected in accordance with      paragraph (c) below when the Facility Agent executes an otherwise      duly completed Assignment Agreement delivered to it by the Existing Lender      and the New Lender.  The Facility Agent shall, subject to      paragraph (b) below, as soon as reasonably practicable after receipt      by it of a duly completed Assignment Agreement appearing on its face to      comply with the terms of this Agreement and delivered in accordance with      the terms of this Agreement, execute that Assignment      Agreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Facility Agent shall only be obliged to execute an Assignment Agreement      delivered to it by the Existing Lender and the New Lender once it is      satisfied it has complied with all necessary “know your customer” or      similar checks under all applicable laws and regulations in relation to      the assignment to such New Lender. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Subject      to Clause 26.11 (Pro rata interest      settlement), on the TransferDate: |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (i) | the      Existing Lender will assign absolutely to the New Lender its rights under      the Finance Documents and in respect of the Transaction Security expressed      to be the subject of the assignment in the Assignment      Agreement; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      Existing Lender will be released from the obligations (the “Relevant Obligations”)      expressed to be the subject of the release in the Assignment Agreement      (and any corresponding obligations by which it is bound in respect of the      Transaction Security); and |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      New Lender shall become a Party as a “Lender” and will be bound by      obligations equivalent to the Relevant  Obligations. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Lenders      may utilise procedures other than those set out in this Clause 26.6      to assign their rights under the Finance Documents (but not, without the      consent of the relevant Obligor or unless in accordance with      Clause 26.5 (Procedure for      transfer), to obtain a release by that Obligor from the obligations      owed to that Obligor by the Lenders nor the assumption of equivalent      obligations by a New Lender) provided that they      comply with the conditions set out in Clause 26.2 (Conditions of assignment or      transfer). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 26.7 | Copy      of Transfer Certificate or AssignmentAgreement |
|------|----------------------------------------------------------|

| 26.8 | Additional      Lenders |
|------|-------------------------|

|   | (a) | A      bank or financial institution may become an Additional Lender, with the      prior consent of the Facility Agent and the Borrower, at any time prior to      the day falling three (3) Business Days before the last day of      Availability Period, by executing and delivering to the Facility Agent a      duly completed Accession Deed. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | For      the avoidance of doubt, following the accession of an Additional      Lender: |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (i) | the      Commitment of that Additional Lender shall be the amount in CZK set forth      in the Accession Deed (and the amount of any other Commitment transferred      to it under this Agreement) in each case to the extent not cancelled,      reduced or transferred by it under this Agreement;  and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      Total Commitments shall be increased by the amount corresponding to the      Commitment of that AdditionalLender. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|

| 26.9 | Accession      of Hedge Counterparties |
|------|----------------------------------------|

| 26.10 | Security      over Lenders’ rights |
|-------|------------------------------------------|

|   | (a) | any      charge, assignment or other Security to secure obligations to a federal      reserve or central bank; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (b) | in      the case of any Lender which is a fund, any charge, assignment or other      Security granted to any holders (or trustee or representatives of holders)      of obligations owed, or securities issued, by that Lender as security for      those obligations orsecurities, |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | release      a Lender from any of its obligations under the Finance Documents or      substitute the beneficiary of the relevant charge, assignment or other      Security for the Lender as a party to any of the Finance Documents;      or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | require      any payments to be made by an Obligor or grant to any person any more      extensive rights than those required to be made or granted to the relevant      Lender under the Finance Documents. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.11 | Pro      rata interest settlement |
|-------|-----------------------------------|

|   | (a) | any      interest or fees in respect of the relevant participation which are      expressed to accrue by reference to the lapse of time shall continue to      accrue in favour of the Existing Lender up to but excluding the Transfer      Date (“Accrued      Amounts”) and shall become due and payable to the Existing Lender      (without further interest accruing on them) on the last day of the current      Interest Period (or, if the Interest Period is longer than six Months, on      the next of the dates which falls at six Monthly intervals after the first      day of that Interest Period); and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      rights assigned or transferred by the Existing Lender will not include the      right to the Accrued Amounts so that, for the avoidance of      doubt: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | when      the Accrued Amounts become payable, those Accrued Amounts will be payable      for the account of the Existing Lender;and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      amount payable to the New Lender on that date will be the amount which      would, but for the application of this Clause 26.11, have been      payable to it on that date, but after deduction of the Accrued      Amounts. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27. | RESTRICTION      ON DEBT PURCHASE TRANSACTIONS |
|-----|------------------------------------------------|

| 27.1 | Prohibition      on Debt Purchase Transactions by the Parent  Group |
|------|---------------------------------------------------------------------|

----

| 28. | CHANGES      TO THE OBLIGORS |
|-----|------------------------------|

| 28.1 | Assignment      and transfers by Obligors |
|------|-------------------------------------------|

| 28.2 | Additional      Guarantors |
|------|----------------------------|

|   | (a) | Subject      to compliance with the provisions of paragraphs (c) and (d) of      Clause 22.8 (“Know      your customer” checks), the Parent may request that any of its      wholly-owned Subsidiaries become aGuarantor. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      member of the Parent Group shall become an Additional Guarantor      if: |
|--------|-----|---------------------------------------------------------------------------------|

|   | (i) | the      Parent and the proposed Additional Guarantor deliver to the Facility Agent      a duly completed and executed Accession Deed;  and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      Facility Agent has received all of the documents and other evidence listed      in Part II of Schedule 2 (Conditions Precedent)      in relation to that Additional Guarantor, each in form and substance      satisfactory to the Facility Agent. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Facility Agent shall notify the Parent and the Lenders promptly upon being      satisfied that it has received (in form and substance satisfactory to it)      all the documents and other evidence listed in Part II of Schedule 2      (Conditions      precedent). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28.3 | Repetition      of Representations |
|------|------------------------------------|

| 29. | ROLE      OF THE FACILITY AGENT, THE SECURITY AGENT, THE ARRANGER AND      OTHERS |
|-----|-----------------------------------------------------------------------------------|

| 29.1 | Appointment      of the Facility Agent and the SecurityAgent |
|------|--------------------------------------------------------------|

|   | (a) | Each      of the Arranger, the Lenders and the Security Agent appoints the Facility      Agent to act as its agent under and in connection with the Finance      Documents. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      of the Arranger, the Lenders and the Security Agent authorises the      Facility Agent to exercise the rights, powers, authorities and discretions      specifically given to the Facility Agent under or in connection with the      Finance Documents together with any other incidental rights, powers,      authorities and discretions. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | Each      of the Secured Parties appoints the Security Agent to act as its agent      under and in connection with the Finance  Documents. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Each      of the Secured Parties authorises the Security Agent to exercise the      rights, powers, authorities and discretions specifically given to the      Security Agent under or in connection with the Finance Documents together      with any other incidental rights, powers, authorities and      discretions. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.2 | Duties      of the Facility Agent and the SecurityAgent |
|------|---------------------------------------------------------|

|   | (a) | Subject      to paragraph (b) below, the Facility Agent and the Security Agent      shall promptly forward to a Party the original or a copy of any document      which is delivered to the Facility Agent or, as applicable, the Security      Agent for that Party by any otherParty. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Without      prejudice to Clause 26.7 (Copy of Transfer Certificate      or Assignment Agreement), paragraph (a) above shall not apply      to any Transfer Certificate or any Assignment  Agreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Except      where a Finance Document specifically provides otherwise, neither the      Facility Agent, nor the Security Agent is obliged to review or check the      adequacy, accuracy or completeness of any document it forwards to another      Party. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | If      the Facility Agent receives notice from a Party referring to this      Agreement, describing a Default and stating that the circumstance      described is a Default, it shall promptly notify the other Finance      Parties. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | If      the Facility Agent is aware of the non-payment of any principal, interest,      commitment fee or other fee payable to a Finance Party (other than the      Facility Agent, the Arranger or the Security Agent) under this Agreement      it shall promptly notify the other Finance  Parties. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | The      duties of the Facility Agent and the Security Agent under the Finance      Documents are solely mechanical and administrative in    nature. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.3 | Role      of the Arranger |
|------|---------------------------|

| 29.4 | No      fiduciary duties |
|------|--------------------------|

|   | (a) | Nothing      in this Agreement constitutes the Facility Agent or the Arranger as a      trustee or fiduciary of any otherperson. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | None      of the Facility Agent, the Security Agent or the Arranger shall be bound      to account to any Lender for any sum or the profit element of any sum      received by it for its ownaccount. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 29.5 | Business      with the Parent Group |
|------|-------------------------------------|

| 29.6 | Rights      and discretions |
|------|-----------------------------|

|   | (a) | The      Facility Agent and the Security Agent may rely  on: |
|--------|-----|--------------------------------------------------------------|

|   | (i) | any      representation, notice or document believed by it to be genuine, correct      and appropriately authorised; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      statement made by a director, authorised signatory or employee of any      person regarding any matters which may reasonably be assumed to be within      his knowledge or within his power toverify. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Facility Agent and the Security Agent may assume (unless it has received      notice to the contrary in its capacity as agent for the Lenders)      that: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | no      Default has occurred (unless it has actual knowledge of a Default arising      under Clause 25.1 (Non-payment)); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      right, power, authority or discretion vested in any Party or the Majority      Lenders has not been exercised; and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      notice or request made by the Borrower (other than a Utilisation Request      or an Extension Request) is made on behalf of and with the consent and      knowledge of all the Obligors. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      of the Facility Agent and the Security Agent may engage, pay for and rely      on the advice or services of any lawyers, accountants, surveyors or other      experts. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Each      of the Facility Agent and the Security Agent may act in relation to the      Finance Documents through its respective personnel and    agents. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Each      of the Facility Agent and the Security Agent may disclose to any other      Party any information it reasonably believes it has received as the      Facility Agent and/or the Security Agent (as applicable) under this      Agreement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | Without      prejudice to the generality of paragraph (e) above, the Facility      Agent may disclose the identity of a Defaulting Lender to the other      Finance Parties and the Borrower and shall disclose the same upon the      written request of the Parent or the Majority  Lenders. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | Notwithstanding      any other provision of any Finance Document to the contrary, none of the      Facility Agent, the Security Agent or the Arranger is obliged to do or      omit to do anything if it would or might in its reasonable opinion      constitute a breach of any law or regulation or a breach of a fiduciary      duty or duty ofconfidentiality. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (h) | The      Facility Agent is not obliged to disclose to any Finance Party any details      of the rate notified to the Facility Agent by any Lender or Alternative      Reference Bank or the identity of any such Lender or Alternative Reference      Bank for the purpose of paragraph (a)(ii) of Clause 13.2 (Market      Disruption). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.7 | Majority      Lenders’ instructions |
|------|-------------------------------------------|

|   | (a) | Unless      a contrary indication appears in a Finance Document, each of the Facility      Agent and the Security Agent shall (i) exercise any right, power,      authority or discretion vested in it as Facility Agent and/or Security      Agent (as applicable) in accordance with any instructions given to it by      the Majority Lenders (or, if so instructed by the Majority Lenders,      refrain from exercising any right, power, authority or discretion vested      in it as Facility Agent and/or Security Agent (as applicable)) and      (ii) not be liable for any act (or omission) if it acts (or refrains      from taking any action) in accordance with an instruction of the Majority      Lenders. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Unless      a contrary indication appears in a Finance Document, any instructions      given by the Majority Lenders will be binding on all the Finance      Parties. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      of the Facility Agent and the Security Agent may refrain from acting in      accordance with the instructions of the Majority Lenders (or, if      appropriate, the Lenders) until it has received such security as it may      require for any cost, loss or liability (together with any associated VAT)      which it may incur in complying with the  instructions. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | In      the absence of instructions from the Majority Lenders, (or, if      appropriate, the Lenders) each of the Facility Agent and the Security      Agent, may act (or refrain from taking action) as it considers to be in      the best interest of the Lenders. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Neither      the Facility Agent, nor the Security Agent is authorised to act on behalf      of a Lender (without first obtaining that Lender’s consent) in any legal      or arbitration proceedings relating to any Finance      Document.  This paragraph (e) shall not apply to any legal      or arbitration proceeding relating to the perfection, preservation or      protection of rights under the Transaction Security Documents or      enforcement of the Transaction Security or Transaction Security      Documents. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.8 | Responsibility      for documentation |
|------|---------------------------------------|

|   | (a) | is      responsible for the adequacy, accuracy and/or completeness of any      information (whether oral or written) supplied by the Facility Agent, the      Arranger, the Security Agent, an Obligor or any other person given in or      in connection with any Finance Document or the Information Package or the      transactions contemplated in the Finance  Documents; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | is      responsible for the legality, validity, effectiveness, adequacy or      enforceability of any Finance Document or the Transaction Security or any      other agreement, arrangement or document entered into, made or executed in      anticipation of or in connection with any Finance Document or the      Transaction Security; or |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | is      responsible for any determination as to whether any information provided      or to be provided to any Finance Party is non-public information the use      of which may be regulated or prohibited by applicable law or regulation      relating to insider dealing orotherwise. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.9 | Exclusion      of liability |
|------|-----------------------------|

|   | (a) | Without      limiting paragraph (b) below (and without prejudice to the provisions      of paragraph (e) of Clause 32.11 (Disruption to Payment Systems      etc.)), neither the Facility Agent, nor the Security      Agent  will be liable (including, without limitation, for      negligence or any other category of liability whatsoever) for any action      taken by it under or in connection with any Finance Document or the      Transaction Security, unless directly caused by its gross negligence or      wilful misconduct. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | No      Party (other than the Facility Agent or (in relation to officers,      employees or agents of the Security Agent or any Receiver or Delegate) the      Security Agent) may take any proceedings against any officer, employee or      agent of the Facility Agent or the Security Agent (as applicable) or any      Receiver or Delegate, in respect of any claim it might have against the      Facility Agent or the Security Agent or in respect of any act or omission      of any kind by that officer, employee or agent, Receiver or Delegate in      relation to any Finance Document or any Transaction Document and any      officer, employee or agent of the Facility Agent and the Security Agent      and any Receiver and Delegate may rely on this Clause subject to      Clause 1.6 (Third      party rights) and the provisions of the Third Parties      Act. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Neither      the Facility Agent nor the Security Agent will be liable for any delay (or      any related consequences) in crediting an account with an amount required      under the Finance Documents to be paid by it if it has taken all necessary      steps as soon as reasonably practicable to comply with the regulations or      operating procedures of any recognised clearing or settlement system used      by it for that purpose. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Nothing      in this Agreement shall oblige the Facility Agent, the Security Agent or      the Arranger to carry out any “know your customer” or other checks in      relation to any person on behalf of any Lender and each Lender confirms to      the Facility Agent, the Security Agent and the Arranger that it is solely      responsible for any such checks it is required to carry out and that it      may not rely on any statement in relation to such checks made by the      Facility Agent, the Security Agent or the  Arranger. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.10 | Lenders’      indemnity to the Facility Agent and the Security  Agent |
|-------|-----------------------------------------------------------------------------|

----

| 29.11 | Resignation      of the Facility Agent and/or the SecurityAgent |
|-------|-----------------------------------------------------------------|

|   | (a) | The      Facility Agent and/or the Security Agent may resign and appoint one of its      Affiliates acting through an office in the Czech Republic as successor      Facility Agent and/or Security Agent, as the case may be, by giving notice      to the other Finance Parties and theBorrower. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Alternatively      the Facility Agent and/or the Security Agent may resign by giving      30 days notice to the other Finance Parties and the Borrower, in      which case the Majority Lenders (after consultation with the Borrower) may      appoint a successor Facility Agent and/or Security Agent (as      applicable). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If      the Majority Lenders have not appointed a successor Facility Agent and/or      Security Agent (as applicable) in accordance with paragraph (a) above      within 20 days after notice of resignation was given, the retiring      Facility Agent and/or the Security Agent may (after consultation with the      Borrower) appoint a successor Facility Agent and/or Security Agent (as      applicable) (acting through an office in the Czech    Republic). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | If      the Facility Agent and/or the Security Agent wishes to resign because      (acting reasonably) it has concluded that it is no longer appropriate for      it to remain as agent and the Facility Agent and/or the Security Agent is      entitled to appoint a successor Facility Agent and/or Security Agent under      paragraph (c) above, the Facility Agent and/or the Security Agent may      (if it concludes (acting reasonably) that it is necessary to do so in      order to persuade the proposed successor agent to become a party to this      Agreement as Facility Agent and/or the Security Agent) agree with the      proposed successor agent amendments to this Clause 29 and any other      term of this Agreement dealing with the rights or obligations of the      Facility Agent and/or the Security Agent consistent with then current      market practice for the appointment and protection of agents together with      any reasonable amendments to the agency fee payable under this Agreement      which are consistent with the successor agent’s normal fee rates and those      amendments will bind the Parties. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | The      retiring Facility Agent and/or Security Agent (as applicable) shall, at      its own cost, make available to its successor agent such documents and      records and provide such assistance as such successor agent may reasonably      request for the purposes of performing its functions as Facility Agent      and/or Security Agent (as applicable) under the Finance      Documents. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (f) | The      resignation notice of the Facility Agent and/or the Security Agent (as      applicable) shall only take effect upon the appointment of a successor      Facility Agent and/or Security Agent, as the case may  be. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | Upon      the appointment of a successor, the retiring Facility Agent and/or      Security Agent shall be discharged from any further obligation in respect      of the Finance Documents but shall remain entitled to the benefit of this      Clause 29.  Any successor and each of the other Parties      shall have the same rights and obligations amongst themselves as they      would have had if such successor had been an original    Party. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.12 | Replacement      of the Facility Agent and/or the SecurityAgent |
|-------|-----------------------------------------------------------------|

|   | (a) | After      consultation with the Borrower, the Majority Lenders may, by giving      30 days’ notice to the Facility Agent (or, at any time the Facility      Agent is an Impaired Agent, by giving any shorter notice determined by the      Majority Lenders) and/or the Security Agent (as applicable) replace the      Facility Agent and/or the Security Agent (as applicable) by appointing a      successor agent (acting through an office in the Czech      Republic). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      retiring Facility Agent and/or the Security Agent (as applicable) shall      (at its own cost if it is an Impaired Agent and otherwise at the expense      of the Lenders) make available to the successor Facility Agent and/or the      Security Agent (as applicable) such documents and records and provide such      assistance as such successor agent may reasonably request for the purposes      of performing its functions as Facility Agent or Security Agent (as      applicable) under the FinanceDocuments. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      appointment of the successor Facility Agent and/or the Security Agent (as      applicable) shall take effect on the date specified in the notice from the      Majority Lenders to the retiring Facility Agent and/or the Security Agent      (as applicable).  As from this date, the retiring Facility Agent      and/or the Security Agent (as applicable) shall be discharged from any      further obligation in respect of the Finance Documents but shall remain      entitled to the benefit of this Clause 29 (and any agency fees for      the account of the retiring Facility Agent and/or the Security Agent (as      applicable) shall cease to accrue from (and shall be payable on) that      date). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Any      successor Facility Agent and/or Security Agent (as applicable) and each of      the other Parties shall have the same rights and obligations amongst      themselves as they would have had if such successor had been an original      Party. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.13 | Confidentiality |
|-------|-----------------|

|   | (a) | In      acting as agent for the Finance Parties, each of the Facility Agent and      the Security Agent shall be regarded as acting through its agency division      which shall be treated as a separate entity from any other of its      divisions or departments. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | If      information is received by another division or department of the Facility      Agent and/or Security Agent (as applicable), it may be treated as      confidential to that division or department and the Facility Agent and/or      Security Agent (as applicable) shall not be deemed to have notice of      it. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Notwithstanding      any other provision of any Finance Document to the contrary, neither the      Facility Agent, the Security Agent, nor the Arranger is obliged to      disclose to any other person (i) any confidential information or      (ii) any other information if the disclosure would or might in its      reasonable opinion constitute a breach of any law or a breach of a      fiduciary duty. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.14 | Relationship      with the Lenders |
|-------|------------------------------------|

|   | (a) | Subject      to Clause 26.11 (Pro rata interest      settlement), each of the Facility Agent and the Security Agent may      treat the person shown in its records as Lender at the opening of business      (in the place of the principal office of the Facility Agent and/or      the Security Agent as notified to the Finance Parties from time to      time) as the Lender acting through its Facility  Office: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | entitled      to or liable for any payment due under any Finance Document on that day;      and |
|--------|-----|-------------------------------------------------------------------------------------------------|

|   | (ii) | entitled      to receive and act upon any notice, request, document or communication or      make any decision or determination under any Finance Document made or      delivered on that day, |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Lender shall supply the Facility Agent with any information required by      the Facility Agent in order to calculate the Mandatory Cost in accordance      with Schedule 4 (Mandatory Cost      formula). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      Lender shall supply the Facility Agent with any information that the      Security Agent may reasonably specify (through the Facility Agent) as      being necessary or desirable to enable the Security Agent to perform its      functions as Security Agent.  Each Lender shall deal with the      Security Agent exclusively through the Facility Agent and shall not deal      directly with the Security Agent. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Any      Lender may by notice to the Facility Agent and/or the Security Agent      appoint a person to receive on its behalf all notices, communications,      information and documents to be made or despatched to that Lender under      the Finance Documents.  Such notice shall contain the address,      fax number and (where communication by electronic mail or other electronic      means is permitted under Clause 34.6 (Electronic      communication)) electronic mail address and/or any other      information required to enable the sending and receipt of information by      that means (and, in each case, the department or officer, if any, for      whose attention communication is to be made) and be treated as a      notification of a substitute address, fax number, electronic mail address,      department and officer by that Lender for the purposes of Clause 34.2      (Addresses) and      paragraph (a)(iii) of Clause 34.6 (Electronic      communication) and the Facility Agent and/or Security Agent shall      be entitled to treat such person as the person entitled to receive all      such notices, communications, information and documents as though that      person were that Lender. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 29.15 | Credit      appraisal by the Lenders |
|-------|--------------------------------------|

|   | (a) | the      financial condition, status and nature of each member of the Parent      Group; |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (b) | the      legality, validity, effectiveness, adequacy or enforceability of any      Finance Document and the Transaction Security and any other agreement,      arrangement or document entered into, made or executed in anticipation of,      under or in connection with any Finance Document or the Transaction      Security; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | whether      that Secured Party has recourse, and the nature and extent of that      recourse, against any Party or any of its respective assets under or in      connection with any Finance Document, the Transaction Security, the      transactions contemplated by the Finance Documents or any other agreement,      arrangement or document entered into, made or executed in anticipation of,      under or in connection with any Finance  Document; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      adequacy, accuracy and/or completeness of the Information Package, the      Valuation Report and any other information provided by the Facility Agent,      the Security Agent, any Party or by any other person under or in      connection with any Finance Document, the transactions contemplated by the      Finance Documents or any other agreement, arrangement or document entered      into, made or executed in anticipation of, under or in connection with any      Finance Document; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the      right or title of any person in or to, or the value or sufficiency of any      part of the Charged Property, the priority of any of the Transaction      Security or the existence of any Security affecting the Charged      Property. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.16 | Reference      Banks and Alternative ReferenceBanks |
|-------|-----------------------------------------------------|

| 29.17 | Deduction      from amounts payable by the Facility Agent and/or the Security      Agent |
|-------|------------------------------------------------------------------------------------------|

----

| 29.18 | The      Security Agent |
|-------|-------------------------|

| 29.19 | Declaration      of Trust |
|-------|---------------------------|

| 29.20 | Provisions      supplemental to the provisions of the Trustee  Acts |
|-------|---------------------------------------------------------------------|

| 29.21 | Non-Trust      Jurisdictions |
|-------|------------------------------|

----

| 29.22 | Covenant      to Pay |
|-------|----------------------|

| 29.23 | Parallel      Debt Obligation |
|-------|-------------------------------|

|   | (a) | Each      Obligor hereby agrees and covenants with the Security Agent by way of an      acknowledgement of debt that it shall pay to the Security Agent sums equal      to, and in the currency of, the Secured Obligations owing by it under the      Finance Documents (the “Principal Obligations”)      as and when the same fall due for payment under the Finance Documents (the      “Parallel      Obligations”). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Security Agent shall have its own independent right to demand payment of      the Parallel Obligations by the Obligors (such demand to be made in      accordance with, and only in the circumstances permitted under, the      Finance Documents and only if permitted by this Agreement).  The      rights of the Finance Parties (other than the Security Agent) or any      person which a Finance Party represents to receive payment of the      Principal Obligations are several from the rights of the Security Agent to      receive payment of the Parallel Obligations provided that the payment by      an Obligor of its Parallel Obligations to the Security Agent in accordance      with this Clause 29.23 (Parallel Debt      Obligation) shall be a good discharge of the corresponding      Principal Obligations and the payment by an Obligor of its Principal      Obligations in accordance with the provisions of the Finance Documents      shall be a good discharge of the corresponding Parallel      Obligations.  In the event of a good discharge of any Principal      Obligations of the Security Agent shall not be entitled to demand payment      of the corresponding Parallel Obligations and such Parallel Obligations      shall be discharged to the same extent.  In the event of a good      discharge of any Parallel Obligations the Finance Parties or any person      which a Finance Party represents shall not be entitled to demand payment      of the corresponding Principal Obligations and such Principal Obligations      shall be discharged to the sameextent. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.24 | No      Independent power |
|-------|---------------------------|

----

| 29.25 | Reliance      and engagement letters |
|-------|--------------------------------------|

| 30. | CONDUCT      OF BUSINESS BY THE FINANCE PARTIES |
|-----|-------------------------------------------------|

|   | (a) | interfere      with the right of any Finance Party to arrange its affairs (tax or      otherwise) in whatever manner it thinksfit; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | oblige      any Finance Party to investigate or claim any credit, relief, remission or      repayment available to it or the extent, order and manner of any claim;      or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | oblige      any Finance Party to disclose any information relating to its affairs (tax      or otherwise) or any computations in respect of  Tax. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 31. | SHARING      AMONG THE FINANCE PARTIES |
|-----|----------------------------------------|

| 31.1 | Payments      to Finance Parties |
|------|----------------------------------|

|   | (a) | the      Recovering Finance Party shall, within three Business Days, notify details      of the receipt or recovery, to the Facility  Agent; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Facility Agent shall determine whether the receipt or recovery is in      excess of the amount the Recovering Finance Party would have been paid had      the receipt or recovery been received or made by the Facility Agent and      distributed in accordance with Clause 32 (Payment mechanics),      without taking account of any Tax which would be imposed on the Facility      Agent in relation to the receipt, recovery or distribution;      and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      Recovering Finance Party shall, within three Business Days of demand by      the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”) equal      to such receipt or recovery less any amount which the Facility Agent      determines may be retained by the Recovering Finance Party as its share of      any payment to be made, in accordance with Clause 32.6 (Partial      payments). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 31.2 | Redistribution      of payments |
|------|---------------------------------|

| 31.3 | Recovering      Finance Party’s rights |
|------|----------------------------------------------|

| 31.4 | Reversal      of redistribution |
|------|---------------------------------|

|   | (a) | each      Sharing Finance Party shall, upon request of the Facility Agent, pay to      the Facility Agent for the account of that Recovering Finance Party an      amount equal to the appropriate part of its share of the Sharing Payment      (together with an amount as is necessary to reimburse that Recovering      Finance Party for its proportion of any interest on the Sharing Payment      which that Recovering Finance Party is required to pay) (the “Redistributed Amount”);      and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | as      between the relevant Obligor and each relevant Sharing Finance Party, an      amount equal to the relevant Redistributed Amount will be treated as not      having been paid by that Obligor. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.5 | Exceptions |
|------|------------|

|   | (a) | This      Clause 31 shall not apply to the extent that the Recovering Finance      Party would not, after making any payment pursuant to this Clause, have a      valid and enforceable claim against the relevant  Obligor. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      Recovering Finance Party is not obliged to share with any other Finance      Party any amount which the Recovering Finance Party has received or      recovered as a result of taking legal or arbitration proceedings,      if: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | it      notified the other Finance Party of the legal or arbitration proceedings;      and |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | (ii) | the      other Finance Party had an opportunity to participate in those legal or      arbitration proceedings but did not do so as soon as reasonably      practicable having received notice and did not take separate legal or      arbitration proceedings. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 32. | PAYMENT      MECHANICS |
|-----|------------------------|

| 32.1 | Payments      to the Facility Agent |
|------|-------------------------------------|

|   | (a) | On      each date on which an Obligor or a Lender is required to make a payment      under a Finance Document, that Obligor or Lender shall make the same      available to the Facility Agent (unless a contrary indication appears in a      Finance Document) for value on the due date at the time and in such funds      specified by the Facility Agent as being customary at the time for      settlement of transactions in the relevant currency in the place of      payment. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Payment      shall be made to such account in the principal financial centre of the      country of that currency (or, in relation to euro, in a principal      financial centre in a Participating Member State or London) with such bank      as the Facility Agent specifies. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.2 | Distributions      by the Facility Agent |
|------|------------------------------------------|

| 32.3 | Distributions      to an Obligor |
|------|----------------------------------|

| 32.4 | Clawback |
|------|----------|

|   | (a) | Where      a sum is to be paid to the Facility Agent and/or the Security Agent (as      applicable) under the Finance Documents for another Party, the Facility      Agent and/or the Security Agent (as applicable) is not obliged to pay that      sum to that other Party (or to enter into or perform any related exchange      contract) until it has been able to establish to its satisfaction that it      has actually received that sum. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Facility Agent and/or the Security Agent (as applicable) pays an      amount to another Party and it proves to be the case that the Facility      Agent and/or the Security Agent (as applicable) had not actually received      that amount, then the Party to whom that amount (or the proceeds of any      related exchange contract) was paid by the Facility Agent and/or the      Security Agent (as applicable) shall on demand refund the same to the      Facility Agent and/or the Security Agent (as applicable) together with      interest on that amount from the date of payment to the date of receipt by      the Facility Agent and/or the Security Agent (as applicable), calculated      by the Facility Agent and/or the Security Agent (as applicable) to reflect      its cost of funds. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 32.5 | Impaired      Agent |
|------|---------------------|

|   | (a) | If,      at any time, the Facility Agent becomes an Impaired Agent, an Obligor or a      Lender which is required to make a payment under the Finance Documents to      the Facility Agent in accordance with Clause 32.1 (Payments to the Facility      Agent) may instead either pay that amount direct to the required      recipient or pay that amount to an interest-bearing account held with an      Acceptable Bank within the meaning of paragraph (a) of the definition      of “Acceptable      Bank” and in relation to which no Insolvency Event has occurred and      is continuing, in the name of the Obligor or the Lender making the payment      and designated as a trust account for the benefit of the Party or Parties      beneficially entitled to that payment under the Finance      Documents.  In each case such payments must be made on the due      date for payment under the FinanceDocuments. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | All      interest accrued on the amount standing to the credit of the trust account      shall be for the benefit of the beneficiaries of that trust account pro rata to their      respective entitlements. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | A      Party which has made a payment in accordance with this Clause 32.4      shall be discharged of the relevant payment obligation under the Finance      Documents and shall not take any credit risk with respect to the amounts      standing to the credit of the trustaccount. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Promptly      upon the appointment of a successor Facility Agent in accordance with      Clause 29.12 (Replacement of the Facility      Agent), each Party which has made a payment to a trust account in      accordance with this Clause 32.4 shall give all requisite      instructions to the bank with whom the trust account is held to transfer      the amount (together with any accrued interest) to the successor Facility      Agent for distribution in accordance with Clause 32.2 (Distributions by the Facility      Agent). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.6 | Partial      payments |
|------|-----------------------|

|   | (a) | If      the Facility Agent receives a payment for application against amounts due      in respect of any Finance Documents that is insufficient to discharge all      the amounts then due and payable by an Obligor under those Finance      Documents, the Facility Agent shall apply that payment towards the      obligations of that Obligor under those Finance Documents in the following      order: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | first, in or towards      payment pro rata      of any unpaid fees, costs and expenses of the Facility Agent and the      Security Agent under those FinanceDocuments; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | secondly, in or towards      payment pro rata      of any accrued interest, fee or commission due but unpaid under those      Finance Documents; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | thirdly, in or towards      payment pro rata      of any principal due but unpaid under those Finance Documents;      and |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | fourthly, in or towards      payment pro rata      of any other sum due but unpaid under the Finance    Documents. |
|--------|------|--------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Facility Agent shall, if so directed by the Majority Lenders, vary the      order set out in paragraphs (a)(ii) to (iv)  above. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Paragraphs (a)      and (b) above will override any appropriation made by an      Obligor. |
|--------|-----|-------------------------------------------------------------------------------------------------|

| 32.7 | Set-off      by Obligors |
|------|--------------------------|

| 32.8 | Business      Days |
|------|--------------------|

|   | (a) | Any      payment which is due to be made on a day that is not a Business Day shall      be made on the next Business Day in the same calendar month (if there is      one) or the preceding Business Day (if there is  not). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | During      any extension of the due date for payment of any principal or Unpaid Sum      under this Agreement interest is payable on the principal or Unpaid Sum at      the rate payable on the original duedate. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.9 | Currency      of account |
|------|--------------------------|

|   | (a) | Subject      to paragraphs (b) to (e) below, CZK is the currency of account and      payment for any sum due from an Obligor under any Finance      Document. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      repayment of a Loan or Unpaid Sum or a part of a Loan or Unpaid Sum shall      be made in the currency in which that Loan or Unpaid Sum is denominated on      its due date. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      payment of interest shall be made in the currency in which the sum in      respect of which the interest is payable was denominated when that      interest accrued. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Each      payment in respect of costs, expenses or Taxes shall be made in the      currency in which the costs, expenses or Taxes are    incurred. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Any      amount expressed to be payable in a currency other than CZK shall be paid      in that other currency. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

----

| 32.10 | Change      of currency |
|-------|-------------------------|

|   | (a) | Unless      otherwise prohibited by law, if more than one currency or currency unit      are at the same time recognised by the central bank of any country as the      lawful currency of that country,then: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      reference in the Finance Documents to, and any obligations arising under      the Finance Documents in, the currency of that country shall be translated      into, or paid in, the currency or currency unit of that country designated      by the Facility Agent (after consultation with the Borrower);      and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      translation from one currency or currency unit to another shall be at the      official rate of exchange recognised by the central bank for the      conversion of that currency or currency unit into the other, rounded up or      down by the Facility Agent (actingreasonably). |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      a change in any currency of a country occurs, this Agreement will, to the      extent the Facility Agent (acting reasonably and after consultation with      the Borrower) specifies to be necessary, be amended to comply with any      generally accepted conventions and market practice in the Prague interbank      market and otherwise to reflect the change in  currency. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.11 | Disruption      to Payment Systems etc. |
|-------|-----------------------------------------|

|   | (a) | the      Facility Agent may, and shall if requested to do so by the Borrower,      consult with the Borrower with a view to agreeing with the Borrower such      changes to the operation or administration of the Facility as the Facility      Agent may deem necessary in thecircumstances; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Facility Agent shall not be obliged to consult with the Borrower in      relation to any changes mentioned in paragraph (a) if, in its      opinion, it is not practicable to do so in the circumstances and, in any      event, shall have no obligation to agree to such  changes; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      Facility Agent may consult with the Finance Parties in relation to any      changes mentioned in paragraph (a) but shall not be obliged to do so      if, in its opinion, it is not practicable to do so in the      circumstances; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      such changes agreed upon by the Facility Agent and the Borrower shall      (whether or not it is finally determined that a Disruption Event has      occurred) be binding upon the Parties as an amendment to (or, as the case      may be, waiver of) the terms of the Finance Documents notwithstanding the      provisions of Clause 38 (Amendments and      Waivers); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the      Facility Agent shall not be liable for any damages, costs or losses      whatsoever (including, without limitation for negligence, gross negligence      or any other category of liability whatsoever but not including any claim      based on the fraud of the Facility Agent) arising as a result of its      taking, or failing to take, any actions pursuant to or in connection with      this Clause 32.11; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (f) | the      Facility Agent shall notify the Finance Parties of all changes agreed      pursuant to paragraph (d)above. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

| 33. | SET-OFF |
|-----|---------|

| 34. | NOTICES |
|-----|---------|

| 34.1 | Communications      in writing |
|------|--------------------------------|

| 34.2 | Addresses |
|------|-----------|

|   | (a) | in      the case of an Original Obligor, that identified with its name      below; |
|--------|-----|------------------------------------------------------------------------------------|

|   | (b) | in      the case of each Lender, or any other Obligor, that notified in writing to      the Facility Agent on or prior to the date on which it becomes a Party;      and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | in      the case of the Facility Agent or the Security Agent, that identified with      its name below, |
|--------|-----|---------------------------------------------------------------------------------------------------------|

| 34.3 | Delivery |
|------|----------|

|   | (a) | Any      communication or document made or delivered by one person to another under      or in connection with the Finance Documents will only be      effective: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | if      by way of fax, when received in legible form;or |
|--------|-----|---------------------------------------------------------|

|   | (ii) | if      by way of letter, when it has been left at the relevant address or five      Business Days after being deposited in the post postage prepaid in an      envelope addressed to it at thataddress, |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | Any      communication or document to be made or delivered to the Facility Agent or      the Security Agent will be effective only when actually received by the      Facility Agent or Security Agent and then only if it is expressly marked      for the attention of the department or officer identified with the      Facility Agent’s or Security Agent’s signature below (or any substitute      department or officer as the Facility Agent or Security Agent shall      specify for this purpose). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | All      notices from or to an Obligor shall be sent through the Facility      Agent. |
|--------|-----|---------------------------------------------------------------------------------------|

|   | (d) | Any      communication or document made or delivered to the Borrower  in      accordance with this Clause 34.3 will be deemed to have been made or      delivered to each of the Obligors. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 34.4 | Notification      of address and fax number |
|------|---------------------------------------------|

| 34.5 | Communication      when Facility Agent is ImpairedAgent |
|------|---------------------------------------------------------|

| 34.6 | Electronic      communication |
|------|-------------------------------|

|   | (a) | Any      communication to be made between the Facility Agent or the Security Agent      and a Lender under or in connection with the Finance Documents may be made      by electronic mail or other electronic means, if the Facility Agent, the      Security Agent and the relevantLender: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | agree      that, unless and until notified to the contrary, this is to be an accepted      form of communication; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (ii) | notify      each other in writing of their electronic mail address and/or any other      information required to enable the sending and receipt of information by      that means; and |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | notify      each other of any change to their address or any other such information      supplied by them. |
|--------|-------|------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      electronic communication made between the Facility Agent and a Lender or      the Security Agent will be effective only when actually received in      readable form and in the case of any electronic communication made by a      Lender to the Facility Agent or the Security Agent only if it is addressed      in such a manner as the Facility Agent or Security Agent shall specify for      this purpose. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 34.7 | Use      of websites |
|------|----------------------|

|   | (a) | The      Parent may satisfy its obligation under this Agreement to deliver any      information in relation to those Lenders (the “Website Lenders”) who      accept this method of communication by posting this information onto an      electronic website designated by the Parent and the Facility Agent (the      “Designated      Website”) if: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Facility Agent expressly agrees (after consultation with each of the      Lenders) that it will accept communication of the information by this      method; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | both      the Parent  and the Facility Agent are aware of the address of      and any relevant password specifications for the Designated Website;      and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      information is in a format previously agreed between the Parent and the      Facility Agent. |
|--------|-------|-------------------------------------------------------------------------------------------------------|

|   | (b) | The      Facility Agent shall supply each Website Lender with the address of and      any relevant password specifications for the Designated Website following      designation of that website by the Parent and the Facility      Agent. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Parent shall promptly upon becoming aware of its occurrence notify the      Facility Agent if: |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | (i) | the      Designated Website cannot be accessed due to technical      failure; |
|--------|-----|-------------------------------------------------------------------------------|

|   | (ii) | the      password specifications for the Designated Website  change; |
|--------|------|----------------------------------------------------------------------|

|   | (iii) | any      new information which is required to be provided under this Agreement is      posted onto the Designated Website; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | any      existing information which has been provided under this Agreement and      posted onto the Designated Website is amended;  or |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | the      Parent becomes aware that the Designated Website or any information posted      onto the Designated Website is or has been infected by any electronic      virus or similar software. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | Any      Website Lender may request, through the Facility Agent, one paper copy of      any information required to be provided under this Agreement which is      posted onto the Designated Website.  The Parent shall at its own      cost comply with any such request within ten Business  Days. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 34.8 | English      language |
|------|-----------------------|

|   | (a) | Any      notice given under or in connection with any Finance Document must be in      English. |
|--------|-----|-------------------------------------------------------------------------------------------------|

|   | (b) | All      other documents provided under or in connection with any Finance Document      must be: |
|--------|-----|--------------------------------------------------------------------------------------------------|

|   | (i) | in      English; or |
|--------|-----|---------------------|

|   | (ii) | if      not in English, and if so required by the Facility Agent, accompanied by a      certified English translation and, in this case, the English translation      will prevail unless the document is a constitutional, statutory or other      official document. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 35. | CALCULATIONS      AND CERTIFICATES |
|-----|------------------------------------|

| 35.1 | Accounts |
|------|----------|

| 35.2 | Certificates      and determinations |
|------|--------------------------------------|

| 35.3 | Day      count convention |
|------|---------------------------|

| 36. | PARTIAL      INVALIDITY |
|-----|-------------------------|

----

| 37. | REMEDIES      AND WAIVERS |
|-----|---------------------------|

| 38. | AMENDMENTS      AND WAIVERS |
|-----|-----------------------------|

| 38.1 | Required      consents |
|------|------------------------|

|   | (a) | Subject      to Clause 38.2 (Exceptions) any term of      the Finance Documents (other than the Mandate Letter) may be amended or      waived only with the consent of the Majority Lenders and the Borrower and      any such amendment or waiver will be binding on all    Parties. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Facility Agent may effect, on behalf of any Finance Party, any amendment      or waiver permitted by thisClause 38. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      Obligor agrees to any such amendment or waiver permitted by this      Clause 38 which is agreed to by the Borrower.  This      includes any amendment or waiver which would, but for this      paragraph (c), require the consent of all of the      Guarantors. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 38.2 | Exceptions |
|------|------------|

|   | (a) | An      amendment or waiver that has the effect of changing or which relates      to: |
|--------|-----|---------------------------------------------------------------------------------------|

|   | (i) | the      definition of “Majority Lenders” in Clause 1.1 (Definitions); |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | (ii) | an      extension to the date of payment of any amount under the Finance Documents      (other than in relation to Clause 7 (Extension of Initial      Termination Date) or Clause 9 (Mandatory      Prepayment)); |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | a      reduction in the Margin or a reduction in the amount of any payment of      principal, interest, fees or commissionpayable; |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | a      change in currency of payment of any amount under the Finance      Documents; |
|--------|------|--------------------------------------------------------------------------------------|

|   | (v) | an      increase in or an extension of any Commitment or the Total      Commitments; |
|--------|-----|--------------------------------------------------------------------------------------|

|   | (vi) | a      change to the Borrowers or Guarantors other than in accordance with      Clause 28 (Changes      to the Obligors); |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | any      provision which expressly requires the consent of all the      Lenders; |
|--------|-------|----------------------------------------------------------------------------------|

----

|   | (viii) | Clause 2.2      (Finance Parties’ rights      and obligations), Clause 9 (Mandatory prepayment),      Clause 26 (Changes      to the Lenders) or thisClause 38; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ix) | (other      than as expressly permitted by the provisions of any Finance Document) the      nature or scope of: |
|--------|------|-----------------------------------------------------------------------------------------------------------------|

|   | (A) | the      guarantee and indemnity granted under Clause 20 (Guarantee and      Indemnity); |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (B) | the      Charged Property; |
|--------|-----|----------------------------|

|   | (C) | the      manner in which the proceeds of enforcement of the Transaction Security      are distributed; or |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

|   | (D) | any      arrangement to the order of priority set out in paragraph 2.1 (Order of Application)      of Schedule 13 (Supplementary Security Agent      Provisions), |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (x) | the      release of any guarantee and indemnity granted under Clause 20 (Guarantee and      Indemnity) or of any Transaction Security unless permitted under      this Agreement or any other Finance Document or relating to a sale or      disposal of an asset which is the subject of the Transaction Security      where such sale or disposal is expressly permitted under this Agreement or      any other Finance Document, |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | An      amendment or waiver which relates to the rights or obligations of the      Facility Agent, the Arranger, the Security Agent or a Hedge Counterparty      (each in their capacity as such) may not be effected without the consent      of the Facility Agent, the Arranger, the Security Agent or, as the case      may be, that Hedge Counterparty. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | If      any Lender fails to respond to a request for a consent, waiver, amendment      of or in relation to any of the terms of any Finance Document or other      vote of Lenders under the terms of this Agreement within 10 Business Days      (unless the Borrower and the Facility Agent agree to a longer time period      in relation to any request) of that request being made, its Commitment      and/or participation shall not be included for the purpose of calculating      the Total Commitments or participations under the Facility when      ascertaining whether any relevant percentage (including, for the avoidance      of doubt, unanimity) of Total Commitments and/or participations has been      obtained to approve thatrequest. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 38.3 | Replacement      of Lender |
|------|----------------------------|

|   | (a) | If      at any time: |
|--------|-----|----------------------|

|   | (i) | any      Lender becomes a Non-Consenting Lender (as defined in paragraph (c)      below); or |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (ii) | an      Obligor becomes obliged to repay any amount in accordance with      Clause 8.1 (Illegality) or to pay      additional amounts pursuant to Clause 16.1 (Increased Costs) or      Clause 15.2 (Tax      gross-up) to any Lender in excess of amounts payable to the other      Lenders generally, |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      replacement of a Lender pursuant to this Clause shall be subject to the      following conditions: |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Borrower shall have no right to replace the Facility Agent or Security      Agent; |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (ii) | neither      the Facility Agent nor the Lender shall have any obligation to the      Borrower to find a ReplacementLender; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | in      the event of a replacement of a Non-Consenting Lender such replacement      must take place no later than 30 days after the date the      Non-Consenting Lender notifies the Borrower and the Facility Agent of its      failure or refusal to give a consent in relation to, or agree to any      waiver or amendment to the Finance Documents requested by the Borrower;      and |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | in      no event shall the Lender replaced under this paragraph (b) be      required to pay or surrender to such Replacement Lender any of the fees      received by such Lender pursuant to the Finance  Documents. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | In      the event that: |
|--------|-----|-------------------------|

|   | (i) | the      Borrower or the Facility Agent (at the request of the Borrower) has      requested the Lenders to give a consent in relation to, or to agree to a      waiver or amendment of, any provisions of the Finance      Documents; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | the      consent, waiver or amendment in question requires the approval of all the      Lenders; and |
|--------|------|------------------------------------------------------------------------------------------------------|

|   | (iii) | Lenders      whose Commitment aggregate more than 70 per cent. of the Total      Commitments (or, if the Total Commitments have been reduced to zero,      aggregated more than 70 per cent. of the Total Commitments prior      to that reduction) have consented or agreed to such waiver or      amendment, |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 38.4 | Disenfranchisement      of Defaulting Lenders |
|------|-----------------------------------------------|

|   | (a) | For      so long as a Defaulting Lender has any Available Commitment, in      ascertaining the Majority Lenders or whether any given percentage      (including, for the avoidance of doubt, unanimity) of the Total      Commitments have been obtained to approve any request for a consent,      waiver, amendment or other vote under the Finance Documents, that      Defaulting Lender’s Commitment will be reduced by the amount of its      Available Commitment. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | For      the purposes of this Clause 38.4, the Facility Agent may assume that      the following Lenders are DefaultingLenders: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      Lender which has notified the Facility Agent that it has become a      Defaulting Lender; |
|--------|-----|----------------------------------------------------------------------------------------------------|

|   | (ii) | any      Lender in relation to which it is aware that any of the events or      circumstances referred to in paragraphs (a), (b) or (c) of the      definition of “Defaulting      Lender” has occurred, |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 38.5 | Replacement      of a Defaulting Lender |
|------|-----------------------------------------|

|   | (a) | The      Borrower may, at any time a Lender has become and continues to be a      Defaulting Lender, by giving 10 Business Days’ prior written notice to the      Facility Agent and such Lender: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | replace      such Lender by requiring such Lender to (and such Lender shall) transfer      pursuant to Clause 26 (Changes to the Lenders)      all (and not part only) of its rights and obligations under this      Agreement; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | require      such Lender to (and such Lender shall) transfer pursuant to Clause 26      (Changes to the      Lenders) all (and not part only) of the undrawn Revolving      Commitment of the Lender; or |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (iii) | require      such Lender to (and such Lender shall) transfer pursuant to Clause 26      (Changes to the      Lenders) all (and not part only) of its rights and obligations in      respect of the Revolving Facility, |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      transfer of rights and obligations of a Defaulting Lender pursuant to this      Clause shall be subject to the following  conditions: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Borrower shall have no right to replace the Facility Agent or Security      Agent; |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (ii) | neither      the Facility Agent nor the Defaulting Lender shall have any obligation to      the Borrower to find a ReplacementLender; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      transfer must take place no later than 30 days after the notice      referred to in paragraph (a) above;and |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | in      no event shall the Defaulting Lender be required to pay or surrender to      the Replacement Lender any of the fees received by the Defaulting Lender      pursuant to the Finance Documents. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 39. | CONFIDENTIALITY |
|-----|-----------------|

| 39.1 | Confidential      Information |
|------|-------------------------------|

| 39.2 | Disclosure      of Confidential Information |
|------|---------------------------------------------|

|   | (a) | to      any of its Affiliates and any of its or their officers, directors,      employees, professional advisers, auditors, partners and Representatives      such Confidential Information as that Finance Party shall consider      appropriate if any person to whom the Confidential Information is to be      given pursuant to this paragraph (a) is informed in writing of its      confidential nature and that some or all of such Confidential Information      may be price-sensitive information except that there shall be no such      requirement to so inform if the recipient is subject to professional      obligations to maintain the confidentiality of the information or is      otherwise bound by requirements of confidentiality in relation to the      Confidential Information; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | to      any person: |
|--------|-----|---------------------|

|   | (i) | to      (or through) whom it assigns or transfers (or may potentially assign or      transfer) all or any of its rights and/or obligations under one or more      Finance Documents, to any potential Additional Lender, and to any of that      person’s Affiliates, Representatives and professional      advisers; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | with      (or through) whom it enters into (or may potentially enter into), whether      directly or indirectly, any sub-participation in relation to, or any other      transaction under which payments are to be made or may be made by      reference to, one or more Finance Documents and/or one or more Obligors      and to any of that person’s Affiliates, Representatives and professional      advisers; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | appointed      by any Finance Party or by a person to whom paragraph (b)(i) or (ii)      above applies to receive communications, notices, information or documents      delivered pursuant to the Finance Documents on its behalf (including,      without limitation, any person appointed under paragraph (d) of      Clause 29.14 (Relationship with the      Lenders)); |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | who      invests in or otherwise finances (or may potentially invest in or      otherwise finance), directly or indirectly, any transaction referred to in      paragraph (b)(i) or (b)(ii)above; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | to      whom information is required or requested to be disclosed by any court of      competent jurisdiction or any governmental, banking, taxation or other      regulatory authority or similar body, the rules of any relevant stock      exchange or pursuant to any applicable law or  regulation; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | to      whom or for whose benefit that Finance Party charges, assigns or otherwise      creates Security (or may do so) pursuant to Clause 26.9 (Security over Lenders’      rights); |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | to      whom information is required to be disclosed in connection with, and for      the purposes of, any litigation, arbitration, administrative or other      investigations, proceedings ordisputes; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | who      is a Party; or |
|--------|--------|-------------------------|

|   | (ix) | with      the consent of the Borrower; |
|--------|------|----------------------------------------|

|   | (A) | in      relation to paragraphs (b)(i), (b)(ii) and (b)(iii) above, the person      to whom the Confidential Information is to be given has entered into a      Confidentiality Undertaking except that there shall be no requirement for      a Confidentiality Undertaking if the recipient is a professional adviser      and is subject to professional obligations to maintain the confidentiality      of the ConfidentialInformation; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (B) | in      relation to paragraph (b)(iv) above, the person to whom the      Confidential Information is to be given has entered into a Confidentiality      Undertaking or is otherwise bound by requirements of confidentiality in      relation to the Confidential Information they receive and is informed that      some or all of such Confidential Information may be price-sensitive      information; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C) | in      relation to paragraphs (b)(v), (b)(vi) and (b)(vii) above, the person      to whom the Confidential Information is to be given is informed of its      confidential nature and that some or all of such Confidential Information      may be price-sensitive information except that there shall be no      requirement to so inform if, in the opinion of that Finance Party, it is      not practicable so to do in thecircumstances; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | to      any person appointed by that Finance Party or by a person to whom      paragraph (b)(i) or (b)(ii) above applies to provide administration      or settlement services in respect of one or more of the Finance Documents      including without limitation, in relation to the trading of participations      in respect of the Finance Documents, such Confidential Information as may      be required to be disclosed to enable such service provider to provide any      of the services referred to in this paragraph (c) if the service      provider to whom the Confidential Information is to be given has entered      into a confidentiality agreement substantially in the form of the LMA      Master Confidentiality Undertaking for Use With Administration/Settlement      Service Providers or such other form of confidentiality undertaking agreed      between the Borrower and the relevant Finance  Party; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | to      any rating agency (including its professional advisers) such Confidential      Information as may be required to be disclosed to enable such rating      agency to carry out its normal rating activities in relation to the      Finance Documents and/or the Obligors if the rating agency to whom the      Confidential Information is to be given is informed of its confidential      nature and that some or all of such Confidential Information may be      price-sensitive information. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 39.3 | Disclosure      to numbering service providers |
|------|------------------------------------------------|

|   | (a) | Any      Finance Party may disclose to any national or international numbering      service provider appointed by that Finance Party to provide identification      numbering services in respect of this Agreement, the Facility and/or one      or more Obligors the followinginformation: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | names      of Obligors; |
|--------|-----|-------------------------|

----

|   | (ii) | country      of domicile of Obligors; |
|--------|------|---------------------------------------|

|   | (iii) | place      of incorporation of Obligors; |
|--------|-------|------------------------------------------|

|   | (iv) | date      of this Agreement; |
|--------|------|------------------------------|

|   | (v) | the      names of the Facility Agent and theArranger; |
|--------|-----|-------------------------------------------------------|

|   | (vi) | date      of each amendment and restatement of this  Agreement; |
|--------|------|-----------------------------------------------------------------|

|   | (vii) | amount      of the Total Commitments; |
|--------|-------|---------------------------------------|

|   | (viii) | currency      of the Facility; |
|--------|--------|--------------------------------|

|   | (ix) | type      of the Facility; |
|--------|------|----------------------------|

|   | (x) | ranking      of the Facility; |
|--------|-----|-------------------------------|

|   | (xi) | the      Termination Date; |
|--------|------|----------------------------|

|   | (xii) | changes      to any of the information previously supplied pursuant to      paragraphs (i) to (xi) above;and |
|--------|-------|-------------------------------------------------------------------------------------------------------------------|

|   | (xiii) | such      other information agreed between such Finance Party and the      Borrower, |
|--------|--------|--------------------------------------------------------------------------------------|

|   | (b) | The      Parties acknowledge and agree that each identification number assigned to      this Agreement, the Facility and/or one or more Obligors by a numbering      service provider and the information associated with each such number may      be disclosed to users of its services in accordance with the standard      terms and conditions of that numbering service  provider. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Each      Obligor represents that none of the information set out in      paragraphs (i) to (xiii) of paragraph (a) above is, nor will at      any time be, unpublished price-sensitive  information. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | The      Facility Agent shall notify the Borrower and the other Finance Parties      of: |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (i) | the      name of any numbering service provider appointed by the Facility Agent in      respect of this Agreement, the Facility and/or one or more Obligors;      and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      number or, as the case may be, numbers assigned to this Agreement, the      Facility and/or one or more Obligors by such numbering service      provider. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 39.4 | Entire      agreement |
|------|-----------------------|

----

| 39.5 | Inside      information |
|------|-------------------------|

| 39.6 | Notification      of disclosure |
|------|---------------------------------|

|   | (a) | of      the circumstances of any disclosure of Confidential Information made      pursuant to paragraph (b)(v) of Clause 39.2 (Disclosure of Confidential      Information) except where such disclosure is made to any of the      persons referred to in that paragraph during the ordinary course of      its supervisory or regulatory function;and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | upon      becoming aware that Confidential Information has been disclosed in breach      of this Clause 39 (Confidentiality). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

| 39.7 | Continuing      obligations |
|------|-----------------------------|

|   | (a) | the      date on which all amounts payable by the Obligors under or in connection      with the Finance Documents have been paid in full and all Commitments have      been cancelled or otherwise cease to be available;  and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      date on which such Finance Party otherwise ceases to be a Finance      Party. |
|--------|-----|----------------------------------------------------------------------------------------|

| 40. | COUNTERPARTS |
|-----|--------------|

| 41. | GOVERNING      LAW |
|-----|--------------------|

----

| 42. | ENFORCEMENT |
|-----|-------------|

| 42.1 | Jurisdiction      of English courts |
|------|-------------------------------------|

|   | (a) | The      courts of England have exclusive jurisdiction to settle any dispute      arising out of or in connection with this Agreement (including a dispute      relating to any non-contractual matters and/or the existence, validity or      termination of this Agreement) (a “Dispute”). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Parties agree that the courts of England are the most appropriate and      convenient courts to settle Disputes and accordingly no Party will argue      to the contrary. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | This      Clause 42 is for the benefit of the Finance Parties and Secured      Parties only.  As a result, no Finance Party or Secured Party      shall be prevented from taking proceedings relating to a Dispute in any      other courts with jurisdiction.  To the extent allowed by law,      the Finance Parties and Secured Parties may take concurrent proceedings in      any number of jurisdictions. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 42.2 | Service      of process |
|------|-------------------------|

|   | (a) | Without      prejudice to any other mode of service allowed under any relevant law,      each Obligor (other than an Obligor incorporated in England and      Wales): |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | irrevocably      appoints CME Development Corporation with its registered branch at 52      Charles Street, London W1J 5EU, as its agent for service of process in      relation to any proceedings before the English courts in connection with      any Finance Document; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | agrees      that failure by an agent for service of process to notify the relevant      Obligor of the process will not invalidate the proceedings      concerned. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      any person appointed as an agent for service of process is unable for any      reason to act as agent for service of process, the Borrower (on behalf of      all the Obligors) must immediately (and in any event within ten      (10) days of such event taking place) appoint another agent on terms      acceptable to the Facility Agent.  Failing this, the Facility      Agent may appoint another agent for this  purpose. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name      of Borrower                        |   | Registration      number (or equivalent, if any) Jurisdiction of    Incorporation |
|----------------------------------------------|--------|-----------------------------------------------------------------------------------|
|                                         |   |                                                                              |
| CET      21 spol.s r.o.                      |   | 45800456 Czech      Republic                                                 |
|                                         |   |                                                                              |
| Name      of Original Guarantor              |   | Registration      number (or equivalent, if any) Jurisdiction of    Incorporation |
|                                         |   |                                                                              |
| Central      European Media Enterprises Ltd. |   | 19574 Bermuda                                                                |
|                                         |   |                                                                              |
| CME      Media Enterprises B.V.              |   | 33246826 The      Netherlands                                                |
|                                         |   |                                                                              |
| CME      Romania B.V.                        |   | 33289326 The      Netherlands                                                |
|                                         |   |                                                                              |
| CME      Slovak Holdings B.V.                |   | 34274606 The      Netherlands                                                |
|                                         |   |                                                                              |
| MARKÍZA      - SLOVAKIA, spol. s r.o.   |   | 31      444 873 Slovak      Republic                                    |

----

| Name      of Original Lender                    |   | Commitment                                                                                                                                                                                                                                                           |
|-------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                            |   |                                                                                                                                                                                                                                                                 |
| Česká      spořitelna,      a.s. |   | 1,600,000,000 or,      following the Increase Date applicable to Česká      spořitelna, a.s. (if any): the      amount set forth in the Increase Confirmation delivered to the Facility Agent      by Česká spořitelna, a.s. |
|                                            |   |                                                                                                                                                                                                                                                                 |
| UniCredit      Bank Czech Republic, a.s.        |   | 500,000,000 or,      following the Increase Date applicable to UniCredit Bank Czech Republic,      a.s. (if any): the      amount set forth in the Increase Confirmation delivered to the Facility      Agent by UniCredit Bank Czech Republic, a.s.       |
|                                            |   |                                                                                                                                                                                                                                                                 |
| BNP      Paribas                                |   | 400,000,000 or,      following the Increase Date applicable to BNP Paribas (if      any): the      amount set forth in the Increase Confirmation delivered to the Facility      Agent by BNP Paribas                                                       |

----

| 1. | Obligors |
|----|----------|

|   | (a) | A      copy of the constitutional documents of each Original    Obligor. |
|--------|-----|--------------------------------------------------------------------------|

|   | (b) | A      copy of the resolutions of the general meeting of the Borrower approving      the terms of, and the transactions contemplated by, the Finance Documents      to which it is a party and resolving that it execute, deliver and perform      the Finance Documents to which it is aparty. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | A      copy of the resolution of executives of the  Borrower |
|--------|-----|--------------------------------------------------------------|

|   | (i) | approving      the terms of, and the transactions contemplated by, the Finance Documents      to which it is a party and resolving that it execute, deliver and perform      the Finance Documents to which it is aparty; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | authorising      a specified person or persons to execute the Finance Documents to which it      is a party on its behalf; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | authorising      a specified person or persons, on its behalf, to sign and/or despatch all      documents and notices (including, if relevant, any Utilisation Request and      Extension Request) to be signed and/or despatched by it under or in      connection with the Finance Documents to which it is a    party. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | A      copy of a resolution of the board of each Original Obligor other than the      Borrower or in case of Markiza, a copy of a resolution of majority of the      executive directors (konatelia) of      Markiza: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | approving      the terms of, and the transactions contemplated by, the Finance Documents      to which it is a party and resolving that it execute, deliver and perform      the Finance Documents to which it is a party;  and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | authorising      a specified person or persons to execute the Finance Documents to which it      is a party on its behalf. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|

|   | (e) | A      specimen of the signature of each person authorised by the resolutions      referred to in paragraph (c) and (d) above in relation to the Finance      Documents and related documents. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | A      copy of a resolution signed by all the holders of the issued shares in      each of CME Media Enterprises B.V., CME Romania B.V., CME Slovak Holdings      B.V. and Markiza, approving the terms of, and the transactions      contemplated by, the Finance Documents to which the Original Guarantor is      a party. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (g) | A      certificate of each Original Obligor (signed by its respective authorised      signatories) confirming that borrowing or guaranteeing or securing, as      appropriate, the Total Commitments would not cause any borrowing,      guarantee, security or similar limit binding on it to be exceeded      (including, without limitation, any limit, restriction or covenant set out      in any Parent Note Document or any Parent Note  Instrument). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | A      certificate of an authorised signatory of the Borrower or other relevant      Original Obligor certifying that each copy document relating to it      specified in Clauses 1(a) through 1(d), Clause 1(f), Clauses 4(b) through      (j) of this Part I of Schedule 2 is correct, complete and in full      force and effect and has not been amended or superseded as at a date no      earlier than the date of thisAgreement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Finance      Documents |
|----|------------------------|

|   | (a) | This      Agreement executed by the Obligors. |
|--------|-----|-----------------------------------------------|

|   | (b) | The      Fee Letters executed by theBorrower. |
|--------|-----|-----------------------------------------------|

|   | (c) | The      Hedging Letter in agreed form and executed by the  Borrower. |
|--------|-----|-----------------------------------------------------------------------|

|   | (d) | At      least one original of the following Transaction Security Documents      executed by the relevant Obligors specified below opposite the relevant      Transaction Security Document: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | Name      of relevant Obligor | Transaction      Security Document |
|--|-------------------------------|------------------------------------|

|   | The      Borrower | First      ranking share pledge/charge/mortgage over all existing and further issued      shares of CME Slovak Holdings B.V. |
|--------|-------------------|------------------------------------------------------------------------------------------------------------------------------|

----

|   | CME      Romania B.V. | English      law assignment of the loan provided under the CET Loan      Agreement |
|--------|-----------------------|------------------------------------------------------------------------------------|

| 3. | Legal      opinions |
|----|---------------------|

|   | (a) | A      legal opinion of White & Case LLP, legal advisers to the Facility      Agent and the Arranger as to English law substantially in the form      distributed to the Original Lenders prior to signing this      Agreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      legal opinion of the following legal advisers to the Facility Agent and      Arranger: |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (i) | White      & Case, advokátní kancelář, as to Czech law; |
|--------|-----|---------------------------------------------------------------------------------|

|   | (ii) | White      & Case s.r.o., as to Slovak law;and |
|--------|------|----------------------------------------------------|

----

|   | (iii) | Nauta      Dutilh N.V., as to Dutch law. |
|--------|-------|------------------------------------------|

|   | (c) | A      capacity legal opinion of the following legal advisers to the      Obligors: |
|--------|-----|-------------------------------------------------------------------------------------|

|   | (i) | Kotrlik      Bourgeault Andrusko, legal advisers to the Borrower as to Czech      law; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (ii) | Allen      & Overy Bratislava, s.r.o., legal advisers to Markiza as to Slovak      law; |
|--------|------|---------------------------------------------------------------------------------------------|

|   | (iii) | Loyens      & Loeff, legal advisers to the Obligors incorporated in the      Netherlands as to Dutch law; and |
|--------|-------|-------------------------------------------------------------------------------------------------------------------|

|   | (iv) | Conyers      Dill Pearman, legal advisers to the Parent as to Bermuda    law. |
|--------|------|-------------------------------------------------------------------------------|

| 4. | Other documents and      evidence |
|----|-----------------------------------|

|   | (a) | Evidence      that any process agent referred to in Clause 42.2 (Service of process) and      in the English law assignment of the loan provided under the CET Loan      Agreement referred to in Clause 2 above has accepted its      appointment. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      copy, certified by an authorised signatory of the Borrower to be a true      copy, of the CET Loan Agreement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (c) | A      copy, certified by an authorised signatory of the CME Romania B.V. to be a      true copy, of the Markiza LoanAgreement. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | A      copy, certified by an authorised signatory of the Parent to be a true      copy, of each Parent Note Document. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (e) | A      certificate signed by an authorised signatory of the Parent certifying      that the Parent Note Documents are in full force and    effect. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | A      copy of the Valuation Report. |
|--------|-----|--------------------------------------|

|   | (g) | A      copy, certified by an authorised signatory of the Parent or relevant Key      Obligor, as applicable, to be a true copy, of the Original Financial      Statements of the Parent and each KeyObligor. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | A      copy of the Broadcasting Licences. |
|--------|-----|-------------------------------------------|

|   | (i) | The      Borrower’s Business Plan. |
|--------|-----|------------------------------------------|

|   | (j) | The      Parent Group Business Plan. |
|--------|-----|--------------------------------------|

| 5. | Insurance |
|----|-----------|

----

| 6. | Other documents and      evidence |
|----|-----------------------------------|

----

| 1. | An      Accession Deed executed by the Additional Obligor and the      Parent. |
|----|--------------------------------------------------------------------------------|

| 2. | A      copy of the constitutional documents of the Additional      Obligor. |
|----|-----------------------------------------------------------------------------|

| 3. | A      copy of a resolution of the board (or, in the case of a Slovak Additional      Obligor, where there is no board of directors, of majority of its      statutory executives) of the AdditionalObligor: |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | approving      the terms of, and the transactions contemplated by, the Accession Deed and      the Finance Documents and resolving that it execute, deliver and perform      the Accession Deed and any other Finance Document to which it is      party; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | authorising      a specified person or persons to execute the Accession Deed and other      Finance Documents on its behalf; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | authorising      a specified person or persons, on its behalf, to sign and/or despatch all      other documents and notices to be signed and/or despatched by it under or      in connection with the Finance Documents to which it is a party;      and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | authorising      the Borrower to act as its agent in connection with the Finance      Documents |
|--------|-----|-------------------------------------------------------------------------------------------------|

| 4. | A      specimen of the signature of each person authorised by the resolution      referred to in paragraph 3above. |
|----|-------------------------------------------------------------------------------------------------------------------------|

| 5. | A      copy of a resolution signed by all the holders of the issued shares of the      Additional Guarantor, approving the terms of, and the transactions      contemplated by, the Finance Documents to which the Additional Guarantor      is a party, if applicable. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | A      certificate of the Additional Obligor (signed by a director) confirming      that borrowing or guaranteeing or securing, as appropriate, the Total      Commitments would not cause any borrowing, guarantee, security or similar      limit binding on it to be exceeded. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | A      certificate of an authorised signatory of the Additional Obligor      certifying that each copy document listed in this Part II of Schedule 2 is      correct, complete and in full force and effect and has not been amended or      superseded as at a date no earlier than the date of the Accession      Deed. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | A      copy of any other authorisation, consent, approval, resolution, licence,      exemption, filing, notarisation or registration or other document, opinion      or assurance which the Facility Agent considers to be necessary in      connection with the entry into and performance of the transactions      contemplated by the Accession Letter or for the validity and      enforceability of any FinanceDocument. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | If      available, the latest audited financial statements of the Additional      Obligor. |
|----|--------------------------------------------------------------------------------------------|

----

| 10. | The      following legal opinions, each addressed to the Facility Agent, the      Security Agent and the Lenders: |
|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (a) | A      legal opinion of the legal advisers to the Facility Agent in England, as      to English law in the form distributed to the Lenders prior to signing the      Accession Deed. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Additional Obligor is incorporated in or has its “centre of main      interest” or “establishment” (as referred to in Clause 21.24 (Centre of main interests and      establishments)) in a jurisdiction other than England and Wales or      is executing a Finance Document which is governed by a law other than      English law, a legal opinion of the legal advisers to the Facility Agent      in the jurisdiction of its incorporation, “centre of main interest” or      “establishment” (as applicable) or, as the case may be, the jurisdiction      of the governing law of that Finance Document (the “Applicable      Jurisdiction”) as to the law of the Applicable Jurisdiction and in      the form distributed to the Lenders prior to signing the Accession      Deed. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | If      the proposed Additional Obligor is incorporated in a jurisdiction other      than England and Wales, evidence that the process agent specified in      Clause 42.2 (Service of      process), if not an Obligor, has accepted its appointment in      relation to the proposed AdditionalObligor. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Any      security documents which are required by the Facility Agent to be executed      by the proposed Additional Obligor. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

| 13. | Any      notices or documents required to be given or executed under the terms of      those security documents. |
|-----|------------------------------------------------------------------------------------------------------------------|

| 14. | (a) | If      the Additional Obligor is incorporated in England and Wales or Scotland,      evidence that the Additional Obligor has done all that is necessary      (including, without limitation, by re-registering as a private company) to      comply with sections 677 to 683 of the Companies Act 2006 in order to      enable that Additional Obligor to enter into the Finance Documents and      perform its obligations under the Finance  Documents. |
|-----|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Additional Obligor is not incorporated in England and Wales or      Scotland, such documentary evidence as legal counsel to the Facility Agent      may require, that such Additional Obligor has complied with any law in its      jurisdiction relating to financial assistance or analogous      process. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| From: | CET      21 spol.s r.o. |
|-------|-------------------------|

| To: | [FacilityAgent] |
|-----|-----------------|

| 1. | We      refer to the Facility Agreement.  This is a Utilisation      Request.  Terms defined in the Facility Agreement have the same      meaning in this Utilisation Request unless given a different meaning in      this Utilisation Request. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | We      wish to borrow a Loan on the followingterms: |
|----|------------------------------------------------------|

|   | (a) | Borrower: | [●] |
|--------|-----|-----------|-----------|

|   | (b) | Proposed      Utilisation Date: | [●]      (or, if that is not a Business Day, the next Business  Day) |
|--------|-----|---------------------------------|----------------------------------------------------------------------------|

|   | (c) | Currency      of Loan: | CZK |
|--------|-----|------------------------|-----|

|   | (d) | Amount: | [●]      or, if less, the Available Facility |
|--------|-----|---------|----------------------------------------------------|

| 3. | We      confirm that each condition specified in Clause 4.2 (Further conditions      precedent) is satisfied on the date of this Utilisation      Request. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The      proceeds of this Loan should be credited to [account]. |
|----|-----------------------------------------------------------------|

| 5. | This      Utilisation Request is irrevocable. |
|----|-----------------------------------------------|

----

| 1. | The      Mandatory Cost is an addition to the interest rate to compensate Lenders      for the cost of compliance with (a) the requirements of the Bank of      England and/or the Financial Services Authority (or, in either case, any      other authority which replaces all or any of its functions) or (b) the      requirements of the European CentralBank. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | On      the first day of each Interest Period (or as soon as possible thereafter)      the Facility Agent shall calculate, as a percentage rate, a rate (the      "Additional Cost Rate") for each Lender, in accordance with the paragraphs      set out below.  The Mandatory Cost will be calculated by the      Facility Agent as a weighted average of the Lenders' Additional Cost Rates      (weighted in proportion to the percentage participation of each Lender in      the relevant Loan) and will be expressed as a percentage rate per      annum. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | The      Additional Cost Rate for any Lender lending from a Facility Office in a      Participating Member State will be the percentage notified by that Lender      to the Facility Agent.  This percentage will be certified by      that Lender in its notice to the Facility Agent to be its reasonable      determination of the cost (expressed as a percentage of that Lender's      participation in all Loans made from that Facility Office) of complying      with the minimum reserve requirements of the European Central Bank in      respect of loans made from that FacilityOffice. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The      Additional Cost Rate for any Lender lending from a Facility Office in the      United Kingdom will be calculated by the Facility Agent as      follows: |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in      relation to a sterling Loan: |
|--------|-----|--------------------------------------|

|  | per      cent. per annum |
|--|--------------------------|

|   | (b) | in      relation to a Loan in any currency other than  sterling: |
|--------|-----|------------------------------------------------------------------|

|  | per      cent. per annum. |
|--|---------------------------|

|   | A | is      the percentage of Eligible Liabilities (assuming these to be in excess of      any stated minimum) which that Lender is from time to time required to      maintain as an interest free cash ratio deposit with the Bank of England      to comply with cash ratiorequirements. |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | B | is      the percentage rate of interest (excluding the Margin and the Mandatory      Cost and, if the Loan is an Unpaid Sum, the additional rate of interest      specified in paragraph (a) of Clause 11.3 (Default interest)      payable for the relevant Interest Period on the  Loan. |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | C | is      the percentage (if any) of Eligible Liabilities which that Lender is      required from time to time to maintain as interest bearing Special      Deposits with the Bank of England. |
|--------|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | D | is      the percentage rate per annum payable by the Bank of England to the      Facility Agent on interest bearing Special  Deposits. |
|--------|---|----------------------------------------------------------------------------------------------------------------------------------------|

|   | E | is      designed to compensate Lenders for amounts payable under the Fees Rules      and is calculated by the Facility Agent as being the average of the most      recent rates of charge supplied by the Reference Banks to the Facility      Agent pursuant to paragraph 7 below and expressed in pounds per      £1,000,000. |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | For      the purposes of this Schedule: |
|----|-----------------------------------------|

|   | (a) | “Eligible Liabilities”      and “Special      Deposits” have the meanings given to them from time to time under      or pursuant to the Bank of England Act 1998 or (as may be appropriate) by      the Bank of England; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | “Fees Rules” means the      rules on periodic fees contained in the Financial Services Authority Fees      Manual or such other law or regulation as may be in force from time to      time in respect of the payment of fees for the acceptance of      deposits; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | “Fee Tariffs” means the      fee tariffs specified in the Fees Rules under the activity group A.1      Deposit acceptors (ignoring any minimum fee or zero rated fee required      pursuant to the Fees Rules but taking into account any applicable discount      rate); and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | “Tariff Base” has the      meaning given to it in, and will be calculated in accordance with, the      Fees Rules. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

| 6. | In      application of the above formulae, A, B, C and D will be included in the      formulae as percentages (i.e. 5 per cent. will be included in the formula      as 5 and not as 0.05).  A negative result obtained by      subtracting D from B shall be taken as zero.  The resulting      figures shall be rounded to four decimalplaces. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | If      requested by the Facility Agent, each Reference Bank shall, as soon as      practicable after publication by the Financial Services Authority, supply      to the Facility Agent, the rate of charge payable by that Reference Bank      to the Financial Services Authority pursuant to the Fees Rules in respect      of the relevant financial year of the Financial Services Authority      (calculated for this purpose by that Reference Bank as being the average      of the Fee Tariffs applicable to that Reference Bank for that financial      year) and expressed in pounds per £1,000,000 of the Tariff Base of that      Reference Bank. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Each      Lender shall supply any information required by the Facility Agent for the      purpose of calculating its Additional Cost Rate.  In particular,      but without limitation, each Lender shall supply the following information      on or prior to the date on which it becomes a  Lender: |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      jurisdiction of its Facility Office;and |
|--------|-----|--------------------------------------------------|

----

|   | (b) | any      other information that the Facility Agent may reasonably require for such      purpose. |
|--------|-----|--------------------------------------------------------------------------------------------------|

| 9. | The      percentages of each Lender for the purpose of A and C above and the rates      of charge of each Reference Bank for the purpose of E above shall be      determined by the Facility Agent based upon the information supplied to it      pursuant to paragraphs 7 and 8 above and on the assumption that, unless a      Lender notifies the Facility Agent to the contrary, each Lender's      obligations in relation to cash ratio deposits and Special Deposits are      the same as those of a typical bank from its jurisdiction of incorporation      with a Facility Office in the same jurisdiction as its Facility      Office. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10. | The      Facility Agent shall have no liability to any person if such determination      results in an Additional Cost Rate which over or under compensates any      Lender and shall be entitled to assume that the information provided by      any Lender or Reference Bank pursuant to paragraphs 3, 7 and 8 above is      true and correct in all respects. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | The      Facility Agent shall distribute the additional amounts received as a      result of the Mandatory Cost to the Lenders on the basis of the Additional      Cost Rate for each Lender based on the information provided by each Lender      and each Reference Bank pursuant to paragraphs 3, 7 and 8      above. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Any      determination by the Facility Agent pursuant to this Schedule in relation      to a formula, the Mandatory Cost, an Additional Cost Rate or any amount      payable to a Lender shall, in the absence of manifest error, be conclusive      and binding on all Parties. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13. | The      Facility Agent may from time to time, after consultation with the Borrower      and the Lenders, determine and notify to all Parties any amendments which      are required to be made to this Schedule in order to comply with any      change in law, regulation or any requirements from time to time imposed by      the Bank of England, the Financial Services Authority or the European      Central Bank (or, in any case, any other authority which replaces all or      any of its functions) and any such determination shall, in the absence of      manifest error, be conclusive and binding on all  Parties. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| To: | [●]      as Facility Agent |
|-----|----------------------------------|

| From: | [The Existing Lender]      (the “Existing      Lender”) and [The      New Lender] (the “New    Lender”) |
|-------|---------------------------------------------------------------------------------------------------------------------------------|

| 1. | We      refer to the Facility Agreement.  This agreement (the “Agreement”) shall take      effect as a Transfer Certificate for the purpose of the Facility      Agreement.  Terms defined in the Facility Agreement have the      same meaning in this Agreement unless given a different meaning in this      Agreement. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | We      refer to Clause 26.5 (Procedure for transfer)      of the Facility Agreement: |
|----|--------------------------------------------------------------------------------------------|

|   | (a) | The      Existing Lender and the New Lender agree to the Existing Lender      transferring to the New Lender by novation all or part of the Existing      Lender’s Commitment, rights and obligations referred to in the Schedule in      accordance with Clause 26.5 (Procedure for      transfer). |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      proposed Transfer Date is [●]. |
|--------|-----|-----------------------------------------------|

|   | (c) | The      Facility Office and address, fax number and attention details for notices      of the New Lender for the purposes of Clause 34.2 (Addresses) are set out      in the Schedule. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | The      New Lender expressly acknowledges the limitations on the Existing Lender’s      obligations set out in paragraph (c) of Clause 26.4 (Limitation of responsibility      of Existing Lenders). |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The      New Lender confirms, for the benefit of the Facility Agent and without      liability to any Obligor, that itis: |
|----|---------------------------------------------------------------------------------------------------------------------------|

|   | (a) | [a      Qualifying Lender (other than a TreatyLender);] |
|--------|-----|---------------------------------------------------------|

|   | (b) | [a      Treaty Lender;] |
|--------|-----|-------------------------|

|   | (c) | [not      a Qualifying Lender]. |
|--------|-----|---------------------------------|

| 5. | This      Agreement may be executed in any number of counterparts and this has the      same effect as if the signatures on the counterparts were on a single copy      of this Agreement. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | This      Agreement (and any non-contractual matters arising in connection with this      Agreement) is governed by Englishlaw. |
|----|---------------------------------------------------------------------------------------------------------------------------------|

----

| 8. | This      Agreement has been entered into on the date stated at the beginning of      this Agreement. |
|----|-------------------------------------------------------------------------------------------------------|

----

| [Existing      Lender] |   | [New      Lender] |
|------------------------|--------|-------------------|
|                   |   |              |
| By:                    |   | By:               |

----

| To: | [●]      as Facility Agent and [●], [●] as Borrower, for and on behalf of each      Obligor |
|-----|---------------------------------------------------------------------------------------------------------------|

| From: | [the      Existing Lender]      (the “Existing      Lender”) and [the New Lender] (the “New    Lender”) |
|-------|---------------------------------------------------------------------------------------------------------------------------------|

| 1. | We      refer to the Facility Agreement.  This is an Assignment      Agreement.  This agreement (the “Agreement”) shall take      effect as an Assignment Agreement for the purpose of the Facility      Agreement.  Terms defined in the Facility Agreement have the      same meaning in this Agreement unless given a different meaning in this      Agreement. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | We      refer to Clause 26.6 (Procedure for      assignment) of the FacilityAgreement: |
|----|---------------------------------------------------------------------------------------------|

|   | (a) | The      Existing Lender assigns absolutely to the New Lender all the rights of the      Existing Lender under the Facility Agreement, the other Finance Documents      and in respect of the Transaction Security which correspond to that      portion of the Existing Lender’s Commitments and participations in Loans      under the Facility Agreement as specified in the  Schedule. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Existing Lender is released from all the obligations of the Existing      Lender which correspond to that portion of the Existing Lender’s      Commitments and participations in Loans under the Facility Agreement      specified in the Schedule. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      New Lender becomes a Party as a Lender and is bound by obligations      equivalent to those from which the Existing Lender is released under      paragraph (b) above. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | The      proposed Transfer Date is [●]. |
|----|-----------------------------------------------|

| 4. | On      the Transfer Date the New Lender becomes Party to the relevant Finance      Documents as a Lender. |
|----|------------------------------------------------------------------------------------------------------------|

| 5. | The      Facility Office and address, fax number and attention details for notices      of the New Lender for the purposes of Clause 34.2 (Addresses) are set out      in the Schedule. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | The      New Lender expressly acknowledges the limitations on the Existing Lender’s      obligations set out in paragraph (c) of Clause 26.4 (Limitation of responsibility      of Existing Lenders). |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | The      New Lender confirms, for the benefit of the Facility Agent and without      liability to any Obligor, that itis: |
|----|---------------------------------------------------------------------------------------------------------------------------|

|   | (a) | [a      Qualifying Lender (other than a TreatyLender);] |
|--------|-----|---------------------------------------------------------|

|   | (b) | [a      Treaty Lender;] |
|--------|-----|-------------------------|

|   | (c) | [not      a Qualifying Lender]. |
|--------|-----|---------------------------------|

----

| 8. | This      Agreement acts as notice to the Facility Agent (on behalf of each Finance      Party) and, upon delivery in accordance with Clause 26.7 (Copy of      Transfer Certificate or Assignment Agreement), to the Borrower (on behalf      of each Obligor) of the assignment referred to in this      Agreement. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | This      Agreement may be executed in any number of counterparts and this has the      same effect as if the signatures on the counterparts were on a single copy      of this Agreement. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10. | This      Agreement (and any non-contractual matters arising in connection with this      Agreement) is governed by Englishlaw. |
|-----|---------------------------------------------------------------------------------------------------------------------------------|

| 11. | This      Agreement has been entered into on the date stated at the beginning of      this Agreement. |
|-----|-------------------------------------------------------------------------------------------------------|

----

| [Existing      Lender] |   | [New      Lender] |
|------------------------|--------|-------------------|
|                   |   |              |
| By:                    |   | By:               |

----

| To: | [●]      as Facility Agent |
|-----|----------------------------------|

| From: | [[Subsidiary] and [Parent]]/[[Additional Lender] and      [Borrower]] |
|-------|-----------------------------------------------------------------------|

| 1. | We      refer to the Facility Agreement.  This deed (the “Accession Deed”) shall      take effect as an Accession Deed for the purposes of the Facility      Agreement.  Terms defined in the Facility Agreement have the      same meaning in paragraphs 1-3 of this Accession Deed unless given a      different meaning in this AccessionDeed. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | [[Subsidiary] agrees to      become an Additional Guarantor on and from the date of this Accession Deed      and to be bound on and from the date of this Accession Deed by the terms      of the Facility Agreement and the other Finance Documents as an Additional      Guarantor pursuant to Clause 28.2 (Additional Guarantors)      of the Facility Agreement.  [Subsidiary] is a      company duly incorporated under the laws of [name of relevant      jurisdiction] and is a limited liability company and registered      number [●].] |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | [Subsidiary’s]/[Additional      Lender’s] administrative      details for the purposes of the Facility Agreement are as      follows: |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | This      Accession Deed (and any non-contractual matters arising in connection with      this Agreement) is governed by Englishlaw. |
|----|--------------------------------------------------------------------------------------------------------------------------------------|

----

| [EXECUTED      AS A DEED | ) |
|--------------------------|---|

| By:  [Subsidiary][Additional      Lender] | ) |
|-----------------------------------------------------|---|

| ____________________________ | Director |
|------------------------------|----------|

| ____________________________ | Director/Secretary |
|------------------------------|--------------------|

| [EXECUTED      AS A DEED | ) |
|--------------------------|---|

|   | By:  [Subsidiary] |
|--------|-----------------------------|

| ____________________________ | Signature      of Director |
|------------------------------|----------------------------|

| ____________________________ | Name      of Director |
|------------------------------|-----------------------|

| ____________________________ | Signature      of witness |
|------------------------------|---------------------------|

| ____________________________ | Name      of witness |
|------------------------------|----------------------|

| ____________________________ | Address      of witness |
|------------------------------|-------------------------|

| ____________________________ |   |
|------------------------------|--------|

| ____________________________ |   |
|------------------------------|--------|

| ____________________________ |   |
|------------------------------|--------|

| ____________________________ | Occupation      of witness] |
|------------------------------|-----------------------------|

| ____________________________ | [Parent][Borrower] |
|------------------------------|--------------------|

----

| To: | [●]      as Facility Agent |
|-----|----------------------------------|

| From: | CET      21 spol.s r.o. |
|-------|-------------------------|

| 1. | We      refer to the Facility Agreement.  This is a Compliance      Certificate.  Terms defined in the Facility Agreement have the      same meaning when used in this Compliance Certificate unless given a      different meaning in this Compliance  Certificate. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | We      confirm that: |
|----|-----------------------|

|   | (a) | Cashflow      Cover is [●]. |
|--------|-----|-----------------------------------|

| 3. | We      confirm that no Default iscontinuing.* |
|----|------------------------------------------------|

| Signed |   | ....................... |   | .......................... |
|--------|--------|-----------------------------------------------------|--------|------------------------------------------------------------|
|   |   | Executive      of CET 21 spol.s r.o.                |   | Executive      of CET 21 spol.s r.o                        |

| * | If      this statement cannot be made, the certificate should identify any Default      that is continuing and the steps, if any, being taken to remedy      it. |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|           | [insert      name of Lender/potential Lender] |
|--------------------------|-----------------------------------------------|

| Borrower:  CET      21, spol. s r.o. Amount:  CZK      2,500,000,000 Agent:      Česká spořitelna, a.s.  |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

| 1. | Confidentiality      Undertaking.  Youundertake: |
|----|------------------------------------------------------------|

|   | 1. | To      keep the Confidential Information confidential and not to disclose it to      anyone except as provided for by paragraph 2 below and to ensure that      the Confidential Information is protected with security measures and a      degree of care that would apply to your own confidential      information; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | to      keep confidential and not disclose to anyone the fact that the      Confidential Information has been made available or that discussions or      negotiations are taking place or have taken place between us in connection      with the Facility; |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | to      use the Confidential Information only for the Permitted      Purpose; |
|--------|----|-------------------------------------------------------------------------------|

|   | 4. | to      use all reasonable endeavours to ensure that any person to whom you pass      any Confidential Information (unless disclosed under paragraph 2      below) acknowledges and complies with the provisions of this letter as if      that person were also a party to it;and |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 5. | save      as where otherwise permitted under the Agreement, not to make enquiries of      any member of the Group or any of their officers, directors, employees or      professional advisers relating directly or indirectly to the      Facility. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Permitted      Disclosure.  We agree that you may disclose Confidential      Information: |
|----|-----------------------------------------------------------------------------------------------------|

|   | 1. | to      any of your Affiliates and their officers, directors, employees and      professional advisers to the extent necessary for the Permitted Purpose      and to any auditors of you and yourAffiliates; |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | (i) where      requested or required by any court of competent jurisdiction or any      competent judicial, governmental, supervisory or regulatory body,      (ii) where required by the rules of any stock exchange on which the      shares or other securities of you and/or your Affiliates are listed or      (iii) where required by the laws or regulations of any country with      jurisdiction over the affairs of you and/or your Affiliates;      or |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | with      the prior written consent of us and the  Borrower. |
|--------|----|--------------------------------------------------------------|

| 3. | Notification of Required or      Unauthorised Disclosure.  You agree (to the      extent permitted by law) to inform us of the full circumstances of any      disclosure under paragraph 2 or upon becoming aware that Confidential      Information has been disclosed in breach of this  letter. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Return of      Copies.  If we so request in writing, you shall return      all Confidential Information supplied to you by us and destroy or      permanently erase all copies of Confidential Information made by you and      use all reasonable endeavours to ensure that anyone to whom you have      supplied any Confidential Information destroys or permanently erases such      Confidential Information and any copies made by them, in each case save to      the extent that you or the recipients are required to retain any such      Confidential Information by any applicable law, rule or regulation or by      any competent judicial, governmental, supervisory or regulatory body or in      accordance with internal policy, or where the Confidential Information has      been disclosed under paragraph 2above. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Continuing      Obligations.  The obligations in this letter are      continuing and, in particular, shall survive the termination of any      discussions or negotiations between you and us.  Notwithstanding      the previous sentence, the obligations in this letter [which have been      entered into by you in connection with your proposed acquisition of an      interest by way of assignment/transfer/sub-participation shall cease if      you become a party to or otherwise acquire (by assignment, transfer or sub      participation) an interest, direct or indirect in the Facility or] twelve      months after you have returned all Confidential Information supplied to      you by us and destroyed or permanently erased all copies of Confidential      Information made by you (other than any such Confidential Information or      copies which have been disclosed under paragraph 2 above (other than      sub-paragraph 2.1) or which, pursuant to paragraph 4 above, are not      required to be returned ordestroyed). |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 6. | No Representation; Consequences of Breach,      etc.  You acknowledge and agree  that: |
|----|--------------------------------------------------------------------------------------------------|

|   | 1. | neither      we nor any of our officers, employees or advisers (i) make any      representation or warranty, express or implied, as to, or assume any      responsibility for, the accuracy, reliability or completeness of any of      the Confidential Information or any other information supplied by us or      any member of the Group or the assumptions on which it is based or      (ii) shall be under any obligation to update or correct any      inaccuracy in the Confidential Information or any other information      supplied by us or any member of the Group or be otherwise liable to you or      any other person in respect to the Confidential Information or any such      information; and |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | we      or members of the Group may be irreparably harmed by the breach of the      terms of this letter and damages may not be an adequate remedy; each of      our officers, employees or advisors or member of the Group may be granted      an injunction or specific performance for any threatened or actual breach      of the provisions of this letter byyou. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | No Waiver; Amendments,      etc.  This letter sets out the full extent of your      obligations of confidentiality owed to us in relation to the information      the subject of this letter.  No failure or delay in exercising      any right, power or privilege under this letter will operate as a waiver      thereof nor will any single or partial exercise of any right, power or      privilege preclude any further exercise thereof or the exercise of any      other right, power or privileges under this letter.  The terms      of this letter and your obligations under this letter may only be amended      or modified by written agreement betweenus. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Inside      Information.  You acknowledge that some or all of the      Confidential Information is or may be price-sensitive information and that      the use of such information may be regulated or prohibited by applicable      legislation relating to insider dealing and you undertake not to use any      Confidential Information for any unlawful  purpose. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | Nature of      Undertakings.  The undertakings given by you under this      letter are given to us and (without implying any fiduciary      obligations on our part) are also given for the benefit of the Borrower      and each other member of the Group. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10. | Third party rights.       Subject to      paragraph 6 and paragraph 9 the terms of this letter may be      enforced and relied upon only by you and us and the operation of the      Contracts (Rights of Third Parties) Act 1999 is    excluded. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | Governing Law and      Jurisdiction.  This letter (including the agreement      constituted by your acknowledgement of its terms) shall be governed by and      construed in accordance with the laws of England and the parties submit to      the non-exclusive jurisdiction of the English  courts. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Definitions.  In      this letter (including the acknowledgement set out  below): |
|-----|---------------------------------------------------------------------------------------------|

----

| To: | [Lender] |
|-----|----------|

----

| Delivery      of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation      Request)) |   | U-3 9.30 am               |
|------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|
| PRIBOR      is fixed                                                                                             |   | Quotation      Day as of 11:00 a.m. |

| “U” | = | date      of utilisation of a Loan |
|-----------------|---|------------------------------------|

| “U      - X” | = | X      Business Days prior to date of utilisation of a  Loan |
|--------------------------|---|--------------------------------------------------------------|

----

----

| 1. | RIGHTS,      DUTIES, POWERS, DISCRETIONS AND REMUNERATION OF THE SECURITY      AGENT |
|----|--------------------------------------------------------------------------------------|

| (a) | The      Security Agent shall have such rights, powers, authorities and discretions      as are conferred on it by this Agreement and the Transaction Security      Documents together with such rights, powers, authorities and discretions      as are reasonably incidental thereto.  The Security Agent shall      not be under any obligations other than those which are specifically      provided for in this Agreement and/or any relevant Finance      Document. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | The      Security Agent may, in its absolute discretion refrain from taking any (or      any further) action or exercising any right, power, authority or      discretion under or in respect of this Agreement or any Transaction      Security Document until it has received instructions from the Facility      Agent as to whether (and/or the way in which) such action, right, power,      authority or discretion is to be taken or  exercised. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The      Security Agent shall not be required to take any action in accordance with      any instructions from the Facility Agent and/or the Majority Lenders (as      the case may be) in respect of this Agreement or any of the Transaction      Security Documents unless it has been indemnified and/or secured to its      satisfaction (in its absolute discretion) whether by way of payment in      advance or otherwise, against all actions, proceedings, claims and demands      to which it may render itself liable and all costs, charges, damages,      expenses and liabilities which it may incur by so  doing. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | The      Security Agent shall be entitled to such remuneration as it may from time      to time agree with the Borrower and have approved by the Facility      Agent.  The Security Agent shall not by virtue of receiving any      such remuneration or other payment be deprived of any rights, powers,      privileges or immunities which a gratuitous trustee would have had in      relation to this Agreement or any of the Transaction Security      Documents. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | The      Security Agent may, in the absence of any instructions to the contrary      and/or any relevant contrary requirement contained in this Agreement, act      or refrain from acting with respect to the exercise of any of its duties      under this Agreement and/or any other Finance Document which in its      absolute discretion it considers to be for the protection and benefit of      all the Secured Parties. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f) | Notwithstanding      the provisions of paragraph 1(b) above, at any time after receipt by the      Security Agent of notice from the Facility Agent informing the Security      Agent that any Transaction Security has become enforceable and directing      the Security Agent to exercise all or any of its rights, remedies, powers      or discretions under any of this Agreement, any Transaction Security      Document and/or any other Finance Document, the Security Agent may take or      refrain from taking such action as in its sole discretion it thinks fit to      enforce the Transaction Security. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g) | Each      Secured Party irrevocably authorises the Security Agent to exercise the      rights and powers and discretions specifically given to the Security Agent      under or in connection with the Finance Documents together with any other      incidental rights, powers, authorities or  discretions. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (h) | The      Security Agent may if it receives any instructions or directions from      Agent or the Majority Lenders (as applicable) to take any action in      relation to any Transaction Security, assume that all applicable      conditions under the Transaction Security Documents for taking that action      have been satisfied. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i) | Notwithstanding      anything to the contrary expressed or implied in any Finance Document the      Security Agent shall not: |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | be      obliged to make any enquiry as to any default by any Obligor in the      performance or observance of any provision of any of the Transaction      Security Documents or as to whether any event or circumstance has occurred      as a result of which any Transaction Security shall have or may become      enforceable; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | be      bound to account to any other Secured Party for any sum or the profit      element of any sum received by it for its own  account; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | be      liable to any of the Secured Parties for any action taken or omitted under      or in connection with any of the Transaction Security Documents unless      caused by its fraud, gross negligence or wilful  misconduct; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | have      or be deemed to have any duty, obligation or responsibility to, or      relationship of trust or agency with, any Obligor;  or |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | be      obliged to take any action in relation to enforcing or perfecting any      Security over any shares in a company registered or incorporated with      unlimited liability. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j) | Unless      caused directly by its fraud or wilful misconduct, the Security Agent      shall not accept responsibility or be liable  for: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | any      losses to any person or any liability arising as a result of taking or      refraining from taking any action in relation to any of the Transaction      Security Documents or any Transaction Security or otherwise, whether in      accordance with instructions from the Secured Parties or      otherwise; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      exercise of, or the failure to exercise, any judgment, discretion or power      given to it by or in connection with any of the Transaction Security      Documents, any Transaction Security or any other agreement, arrangement or      document entered into, made or executed in anticipation of, pursuant to or      in connection therewith; or |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      shortfall which arises on the enforcement of any Transaction      Security, |
|--------|-------|--------------------------------------------------------------------------------------|

----

| (k)  | The      Security Agent shall not be liable for any failure  to: |
|-----------|------------------------------------------------------------------|

|   | (i) | require      the deposit with it of any deed or document certifying, representing or      constituting the title of any Obligor to any of the Charged      Property; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | obtain      any licence, consent or other authority for the execution, delivery,      legality, validity, enforceability or admissibility in evidence of any of      the Transaction Security Documents or the Transaction      Security; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | register,      file or record or otherwise protect any of the Transaction Security (or      the priority of any of the Transaction Security) under any applicable laws      in any jurisdiction or to give notice to any person of the execution of      any of the Transaction Security Documents or of any Transaction      Security; |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | take,      or to require any of the Obligors to take, any steps to perfect its title      to any of the Charged Property or to render any Encumbrance created under      and/or pursuant to the Transaction Security Documents effective or to      secure the creation of any ancillary Security under the laws of any      jurisdiction; or |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | require      any further assurances in relation to any of the Transaction Security      Documents. |
|--------|-----|----------------------------------------------------------------------------------------------------|

| (l) | The      Security Agent shall not be under any obligation to insure any of the      Charged Property, to require any other person to maintain any insurance or      to verify any obligation to arrange or maintain insurance contained in the      Transaction Security Documents.  The Security Agent shall not be      responsible for any loss which may be suffered by any person as a result      of the lack of or inadequacy of any such insurance.  Where the      Security Agent is named on any insurance policy as an insured party, it      shall not be responsible for any loss which may be suffered by reason of,      directly or indirectly, its failure to notify the insurers of any material      fact relating to the risk assumed by such insurers or any other      information of any kind, unless the Facility Agent shall have requested it      to do so in writing and the Security Agent shall have failed to do so      within fourteen days after receipt of that  request. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m) | The      Security Agent shall, acting reasonably, be at liberty to place (at the      cost of the Obligors) any of the Transaction Security Documents and any      other documents or deeds relating to any Transaction Security in any safe      custody selected by the Security Agent (acting reasonably) or with any      financial institution, any company whose business includes the safe      custody of documents or any firm of lawyers of good repute and the      Security Agent shall not be responsible for, or required to insure      against, any loss incurred in connection with that  deposit. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n) | The      Security Agent shall be entitled to accept without enquiry, and shall not      be obliged to investigate, such right and title as each of the Obligors      may have to any of the Charged Property and shall not be liable for or      bound to require any Obligor to remedy any defect in its right or      title. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (o) | The      Security Agent may refrain from doing anything which in its opinion will      or may be contrary to any relevant law of any jurisdiction which would or      might otherwise render it liable to any person, and the Security Agent may      do anything which is, in its opinion, necessary to comply with any such      law. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (p) | In      acting as agent and/or trustee (as the case may be) for the Secured      Parties, the Security Agent shall be regarded as acting through its agency      and/or trustee division which shall be treated as a separate entity from      any of its other divisions or departments and any information received by      any other division or department of the Security Agent may be treated as      confidential and shall not be regarded as having been given to the      Security Agent’s agency and/or trusteedivision. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (q) | Any      opinion, advice or information on which the Security Agent relies or      intends to rely may be sent or communicated by letter, telex message,      facsimile transmission, telephone or any other means.  The      Security Agent shall not be liable for acting on any opinion, advice or      information which is so conveyed, even if the opinion, advice or      information contains some error or is not  authentic. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (r) | The      Security Agent may accept deposits from, lend money to or provide advisory      or other services to or engage in any kind of banking or other business      with any Party or a Subsidiary or associated company of any of them and      may do so without any obligation to account to or disclose any such      arrangements to any person, whether or not it may or does lead to a      conflict with the interests of any other Party to this      Agreement.  Similarly, the Security Agent may undertake business      with or for third parties even though it may lead to a conflict with the      interests of any Party to thisAgreement. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (s) | The      Security Agent may exercise any of its rights, powers, authorities and      discretions and perform any of its obligations under this Agreement or any      of the Transaction Security Documents through its employees or through      paid or unpaid agents, which may be corporations, partnerships or      individuals (whether or not lawyers or other professional persons), and      shall not be responsible for any misconduct or omission on the part of, or      be bound to supervise the proceedings or acts of, any such employee or      agent.  Any such agent which is engaged in any profession or      business shall be entitled to charge and be paid all usual fees, expenses      and other charges for its services. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (t) | The      Security Agent may at any time and from time to time delegate, whether by      power of attorney or otherwise, to any persons all or any of its rights,      powers, authorities and discretions and the rights, powers, authorities      and discretions which are for the time being exercisable by the Security      Agent under any of the Transaction Security Documents.  Any such      delegation may be made upon such terms and conditions (including the power      to sub delegate with the consent of the Security Agent) as the Security      Agent may think fit.  The Security Agent shall not be in any way      liable or responsible to any Party or any other person for any loss or      damage arising from any act, default, omission or misconduct on the part      of any such delegate or subdelegate. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (u) | The      Security Agent may at any time appoint (and subsequently remove) any      person to act as a separate trustee or as a co-trustee jointly with it (a)      if it considers such appointment to be in the interests of the Secured      Parties or (b) for the purposes of conforming to any legal requirements,      restrictions or conditions which the Security Agent deems to be relevant      or (c) for obtaining or enforcing any judgment in any jurisdiction, and      the Security Agent shall give prior notice to the Borrower and the      Facility Agent of any such appointment.  Any person so appointed      (subject to the terms of this Agreement) shall have such rights, powers      and discretions (not exceeding those conferred on the Security Agent by      this Agreement) and such duties and obligations as are conferred or      imposed by the instrument of appointment.  The remuneration the      Security Agent may pay to any such person, and any costs and expenses      incurred by such person in performing its functions pursuant to that      appointment shall, for the purposes of this Agreement, be treated as costs      and expenses incurred by the SecurityAgent. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (v) | The      Security Agent and every Receiver, Delegate, sub delegate, attorney, agent      or other person appointed under this Agreement or any of the Transaction      Security Documents may indemnify itself out of the Charged Property      against all proceedings, claims and demands which may be made or taken      against it and all costs, charges, damages, expenses and liabilities which      it may suffer or incur unless suffered or incurred by reason of its own      gross negligence or wilfulmisconduct. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (w) | The      Security Agent shall not have any duty to ensure that any payment or other      financial benefit in respect of any of the Charged Property is duly and      punctually paid, received or collected as and when the same becomes due      and payable or to procure that the correct amounts (if any) are paid or      received or to ensure the taking up of any (or any offer of any) stocks,      shares, rights, moneys or other property paid, distributed, accrued or      offered at any time by way of interest, dividend, redemption, bonus,      rights, preference, option, warrant or otherwise on, or in respect of or      in substitution for any of the ChargedProperty. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (x) | Any      consent given by the Security Agent for the purposes of this Agreement may      be given on such terms and subject to such conditions (if any) as the      Security Agent may require. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (y) | Nothing      contained in this Agreement shall require the Security Agent to expend or      risk its own funds or otherwise incur any financial liability in the      performance of its duties or the exercise of any right, power, authority      or discretion hereunder if it has grounds for believing the repayment of      such funds or adequate indemnity against, or security for, such risk or      liability is not reasonably assured toit. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (z) | The      Security Agent, as between itself and the other Parties, shall have full      power to determine all questions and doubts arising in relation to the      provisions of this Schedule or any Transaction Security Document and any      such determination shall in the absence of manifest error, be conclusive      and binding on the Parties. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (aa) | Nothing      in this Agreement (other than express terms to the contrary in this      Agreement) shall limit the ability of the Security Agent to exercise any      rights, powers and discretions it may have in its capacity as a Secured      Party. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | first,      in or towards payment of amounts payable (including interest thereon      provided for under any of the Finance Documents) to the Security Agent,      any Receiver and/or any Delegate (in each case, including any receiver,      administrator, delegate, adviser, agent or co-trustee appointed by any of      them) under any of the FinanceDocuments; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | second,      in or towards payment of unpaid costs and expenses incurred by or on      behalf of any of the Finance Parties (other than the Security Agent) in      connection with the realisation or enforcement of the Transaction      Security; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | third,      in payment to the Facility Agent (for itself and the other Finance      Parties) for application pro rata in the same order of priority between      all of the Secured Parties, in and towards discharge of each unpaid and      outstanding obligation, sum or liability of the Obligors, any member of      the Parent Group or any one of more of them to any Finance Party under or      in connection with any of the Finance Documents (whether in respect of      principal, interest or any other sum and including any amount which would      constitute such a liability but for any discharge, non-provability,      unenforceability or non-allowability of the same in insolvency or other      proceedings); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | fourth,      if none of the Obligors is under any further actual or contingent      liability under any Finance Document, in payment of the balance, if any,      to any person to whom the Security Agent is obliged to pay in priority to      any Obligor; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | fifth,      the balance, if any, in payment to the relevant  Obligor, |
|--------|-----|-----------------------------------------------------------------------|

| 2.2  | Investment      of Proceeds |
|-----------|-----------------------------|

| 2.3  | Currency      Conversion |
|-----------|--------------------------|

| 2.4  | Permitted      Deductions |
|-----------|---------------------------|

----

| 2.5  | Discharge      of Secured Obligations |
|-----------|---------------------------------------|

| 2.6  | Clawback |
|-----------|----------|

|   | (a) | If      any Secured Party has received an amount as a result of the enforcement of      any Transaction Security and the Security Agent on its behalf is      subsequently required to pay that amount (a “Clawback Amount”) to a      liquidator (or any other party) pursuant to a court order, that Secured      Party will immediately pay an amount equal to such Clawback Amount to the      Security Agent for payment to the liquidator (or other relevant      party). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Each      Secured Party that has received a Clawback Amount shall indemnify the      Security Agent against any and all costs, claims, losses, expenses      (including legal fees) and liabilities together with any VAT thereon which      the Security Agent may incur with respect to that Clawback Amount      otherwise than by reason of the Security Agent’s own gross negligence or      wilful misconduct. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.7  | Sums      received by Obligors |
|-----------|--------------------------------|

| 2.8  | Non      cash Distributions |
|-----------|-----------------------------|

| 2.9  | Certificates |
|-----------|--------------|

----

| 2.10 | Preservation      of Liabilities |
|------|----------------------------------|

|   | (a) | by      the receipt of any amount by any Finance Party, if and to the extent that,      by virtue of the operation of this Agreement, such amount is required to      be paid over to (and pending such payment held upon trust for) the      Security Agent for application and distribution pursuant to the terms      hereof; or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | by      the receipt of any amount by the Security Agent pursuant to the terms of      this Agreement for application pursuant to the terms    hereof, |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.11 | Obligors’      Waiver |
|------|-----------------------------|

| 3. | ENFORCEMENT      OF SECURITY |
|----|------------------------------|

| 3.1 | The      Security Agent shall act in relation to the Transaction Security Documents      in accordance with the instructions of the Majority    Lenders. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | A      Finance Party shall not be responsible to any other Finance Party with      respect to any instructions given or not given to the Security Agent in      relation to or in connection with any of the Transaction Security      Documents, provided in each case such Finance Party acts in good faith and      in accordance with their obligations under this Agreement and the      applicable Finance Documents. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.3 | If      any assets are to be sold or otherwise disposed of by or on behalf of the      Security Agent (or by an Obligor at the request of the Security Agent),      either as a result of the enforcement of the Transaction Security or a      disposal by an Obligor after any enforcement action, the Security Agent      may (at the cost of the Obligors) release the relevant assets from the      Security and may enter into, on behalf of, and without the need for any      further consent or authority from, any other  Party: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      release of the Transaction Security or any other claim over that asset      (including any claim of contribution or subrogation by any other Obligor)      and to issue any certificate of non crystallisation of any floating charge      that may, in the absolute discretion of the Security Agent, be considered      necessary or desirable; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if      the asset disposed of consists of all of the shares (being shares held by      an Obligor) in the share capital of an Obligor or any Holding Company of      an Obligor, any release of that Obligor or Holding Company or any of its      Subsidiaries from any liabilities it may have to any Finance Party or      other Obligor, whether actual or contingent, in its capacity as a      guarantor or borrower; or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | if      the asset disposed of consists of all of the shares in the share capital      of an Obligor or any holding company of that Obligor and if the Security      Agent wishes to sell, transfer, assign or otherwise dispose of any      intercompany loans, receivables or other liabilities owed by or to that      Obligor, any agreement to dispose of all or any part of those intercompany      loans, receivables or other liabilities on behalf of the relevant Finance      Party and Obligors (with the proceeds thereof being applied as if they      were the proceeds of enforcement of the Transaction    Security). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.4 | Each      Finance Party hereby undertakes in favour of the Security Agent to execute      any releases or other documents and take any action which the Security      Agent may reasonably require in order to give effect to the provisions of      this Paragraph 3 (Enforcement of      Security), provided that any such release, document or action shall      be without representation or warranty from, or recourse to, any other      Finance Party. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.5 | The      release of any member of the Parent Group as contemplated in this      Paragraph 3 (Enforcement      of Security) will not affect or otherwise reduce the obligations      and/or liabilities of any other member of the Parent Group to any of the      Finance Parties. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | AMENDMENTS      TO TRANSACTION SECURITY DOCUMENTS |
|----|---------------------------------------------------|

| 4.1 | Any      provision of a Transaction Security Document may be amended or waived by      the written agreement of the relevant Obligor(s) and the Security Agent      (acting pursuant to Paragraph 4.2below). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2 | In      agreeing to amend, release or waive the provisions of any Transaction      Security Document, the Security Agent shall act (unless otherwise provided      in this Agreement) in accordance with the instructions  of: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | each      Lender affected thereby, if within the circumstances envisaged by Clause      38.2 (Exceptions);      or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      Majority Lenders. |
|--------|------|----------------------------|

| 5. | SECURED      PARTIES’ INFORMATION |
|----|-----------------------------------------|

| 6.  | WINDING-UP      OF TRUST AND PERPETUITY PERIOD |
|----------|------------------------------------------------|

| 6.1  | Winding      up of Trust |
|-----------|--------------------------|

----

| 6.2  | Perpetuity      Period |
|-----------|------------------------|

| 7.  | CONFLICT      WITH TRANSACTION SECURITY DOCUMENTS |
|----------|---------------------------------------------------|

----

| /s/ Petr Dvorak |                            | /s/ Milan Cimirot |
|-----------------|---------------------------------|-------------------|
|            |                            |              |   |   |
| By:             | Ing.      Petr Dvořák |              | By: | Milan      Cimirot |
|            |                            |              |   |   |
| Title:          | Statutory      Executive        |              | Title: | Statutory      Executive |

| Address: | Prague 5, Kříženeckého      nám. 1078/5, Post Code 152 00, Czech  Republic |
|----------|-----------------------------------------------------------------------------------------------------|

| Attention: | Mr.      Milan Cimirot, Statutory Executive |
|------------|---------------------------------------------|

| Fax: | +420      233 100 143 |
|------|-----------------------|

| Address: | Prague 5, Kříženeckého      nám. 1078/5, Post Code 152 00, Czech  Republic |
|----------|-----------------------------------------------------------------------------------------------------|

| Attn: | Treasury      Department |
|-------|--------------------------|

| Fax: | +420      242 466 010 |
|------|----------------------------|

----

| By: | /s/ Charles      Frank |
|-----|------------------------|

| Title: | Chief      Financial Officer |
|--------|------------------------------|

| Address: | Mintflower      Place |
|----------|-----------------------|

| Attn: | Assistant      Secretary |
|-------|--------------------------|

| Fax: | + 1      441 295 0992 |
|------|-----------------------|

----

| By: | /s/ Alphons van      Spaendonck | /s/ Henk van      Wijlen |
|-----|---------------------------------|--------------------------|

| Title: | Managing      Director | On      behalf of Pan-Invest B.V. |
|--------|------------------------|-----------------------------------|

| Address: | Dam      5B |
|----------|-------------|

| Attn: | Finance      Officer |
|-------|----------------------|

| Fax: | +312      042 31404 |
|------|---------------------|

----

| By: | /s/ Alphons van      Spaendonck | /s/ Henk van      Wijlen |
|-----|---------------------------------|--------------------------|

| Title: | Managing      Director | On      behalf of Pan-Invest B.V. |
|--------|------------------------|-----------------------------------|

| Address: | Dam      5B |
|----------|-------------|

| Attn: | Finance      Officer |
|-------|----------------------|

| Fax: | +312      042 31404 |
|------|---------------------|

----

| By: | /s/ Alphons van      Spaendonck | /s/ Henk van      Wijlen |
|-----|---------------------------------|--------------------------|

| Title: | Managing      Director | On      behalf of Pan-Invest B.V. |
|--------|------------------------|-----------------------------------|

| Address: | Dam      5B |
|----------|-------------|

| Attn: | Finance      Officer |
|-------|----------------------|

| Fax: | +312      042 31404 |
|------|---------------------|

----

| /s/ Václav      Mika |                  | /s/ Radka Doehring |
|---------------------------|-----------------------|--------------------|
|                      |                  |               |   |   |
| By:                       | Václav      Mika |               | By: | Radka      Doehring |
|                      |                  |               |   |   |
| Title:                    | Executive             |               | Title: | Executive |

| Address: | Bratislavská      1/a |
|----------|----------------------------|

| Attn: | Finance      Director |
|-------|-----------------------|

| Fax: | +421      2 6595 6829 |
|------|-----------------------|

----

| /s/ Harold Mueller |                                          | /s/ Sergiy Loban |
|--------------------|-----------------------------------------------|------------------|
|               |                                          |             |   |   |
| By:                | Harald      Mueller                           |             | By: | Sergiy      Loban |
| Title:             | Head      of Structuring & Credit Markets |             | Title: | Senior      Manager |
|               |                                          |             |   | Loan      Syndication & CorporateSolutions |

| Address: | Václavské      náměstí 16, 110 00 Prague 1, CzechRepublic |
|----------|------------------------------------------------------------------------------------|

| Fax: | +420      224 402 560 |
|------|----------------------------|

| Attention: | Corporate      and Acquisition Finance Praha |
|------------|----------------------------------------------|

----

| /s/ František Havrda |                       | /s/ Václav Šnýdr |
|---------------------------|----------------------------|---------------------------------|
|                      |                       |                            |   |   |
| By:                       | František      Havrda |                            | By: | Václav      Šnýdr |
|                      |                       |                            |   |   |
| Title:                    | Authorised      Signatory  |                            | Title: | Authorised      Signatory |

| Address: | Prague      6, Evropská 2690/17, Post Code: 160 00, Czech  Republic |
|----------|--------------------------------------------------------------------------|

| Fax: | +420      224 641 080 |
|------|-----------------------|

| Attention: | Václav      Šnýdr/František Havrda |
|------------|--------------------------------------------------------|

| /s/ František Havrda |                       | /s/ Václav Šnýdr |
|---------------------------|----------------------------|---------------------------------|
|                      |                       |                            |   |   |
| By:                       | František      Havrda |                            | By: | Václav      Šnýdr |
|                      |                       |                            |   |   |
| Title:                    | Authorised      Signatory  |                            | Title: | Authorised      Signatory |

| Address: | Prague      6, Evropská 2690/17, Post Code: 160 00, Czech  Republic |
|----------|--------------------------------------------------------------------------|

| Fax: | +420      224 641 080 |
|------|-----------------------|

| Attention: | Václav      Šnýdr/František Havrda |
|------------|--------------------------------------------------------|

----

| /s/ František Havrda |                       | /s/ Václav Šnýdr |
|---------------------------|----------------------------|---------------------------------|
|                      |                       |                            |   |   |
| By:                       | František      Havrda |                            | By: | Václav      Šnýdr |
|                      |                       |                            |   |   |
| Title:                    | Authorised      Signatory  |                            | Title: | Authorised      Signatory |

| Address: | Prague      6, Evropská 2690/17, Post Code: 160 00, Czech  Republic |
|----------|--------------------------------------------------------------------------|

| Fax: | +420      224 641 080 |
|------|-----------------------|

| Attention: | Václav      Šnýdr/František Havrda |
|------------|--------------------------------------------------------|

----

| /s/ Petr Hanák |                 | /s/ Jan Nosek |
|---------------------|----------------------|---------------|
|                |                 |          |   |   |
| By:                 | Petr      Hanák |          | By: | Jan      Nosek |
|                |                 |          |   |   |
| Title:              | proxy                |          | Title: | proxy |

| Address: | nám.      Republiky 3a, 110 00 Praha 1, CzechRepublic |
|----------|------------------------------------------------------------|

| Fax: | +420 221 119      115 |
|------|---------------------------------|

| Attention: | Petr      Hanák / Jan Nosek |
|------------|----------------------------------|

----

| /s/ Ali El Amari |
|------------------|
|             |   |
| By:              | Ali      El Amari |
|             |   |
| Title:           | Associate |

| Address: | 37,      Place du Marché St Honoré, Paris,France |
|----------|------------------------------------------------------------|

| Fax: | 33      (01) 42 98 10 65 |
|------|--------------------------|

| Attention: | Sandra      Sitbon/Ali El Amari |
|------------|---------------------------------|

----