EX-10.80






Exhibit 10.80



[Security Agreement Warp Solutions Limited]



THIS DEED is dated 2 August 2005 between:




	 	(1)	 	WARP SOLUTIONS LIMITED (Registered number 04534329) (the Chargor);






	 	(2)	 	FORTRESS CREDIT CORP. (the Agent) as agent and trustee for the Finance Parties (as defined in
the Credit Agreement defined below).





BACKGROUND:




	 	(A)	 	The Chargor enters into this Deed in connection with the Credit Agreement (as defined below).






	 	(B)	 	It is intended that this document takes effect as a deed notwithstanding the fact that a
party may only execute this document under hand.





IT IS AGREED as follows:




	 	1.	 	INTERPRETATION





	 	 	 
	1.1	 	Definitions
	
 
	 	In this Deed:
	
 
	 	Act means the Law of Property Act 1925.







Credit Agreement means the credit agreement dated 1 August 2005 between (among others),
Warp Technology Holdings Inc., the Chargor and the Agent.




Party means a party to this Deed.




Receiver means an administrative receiver, receiver and manager or a receiver, in each
case, appointed under this Deed.




Secured Liabilities means all present and future obligations and liabilities (whether
actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of the Chargor to any Finance Party under each Finance Document to which the
Chargor is a party, except for any obligation which, if it were so included, would result in
this Deed contravening Section 151 of the Companies Act 1985.




Security Assets means all assets of the Chargor the subject of any security created by
this Deed.




Security Period means the period beginning on the date of this Deed and ending on the
date on which all the Secured Liabilities have been unconditionally and irrevocably paid and
discharged in full.




	 	1.2	 	Construction






	 	(a)	 	Capitalised terms defined in the Credit Agreement have, unless expressly defined in this
Deed, the same meaning in this Deed.






	 	(b)	 	The provisions of Clause 1.2 (Construction) of the Credit Agreement apply to this Deed as
though they were set out in full in this Deed, except that references to the Credit Agreement
will be construed as references to this Deed.





	 	 	 	 	 
	(c)

	 	(i)

(ii)
	 	The term Finance Document includes all amendments and supplements including supplements providing for

further advances; and

the term this Security means any security created by this Deed.







	 	(d)	 	Any covenant of the Chargor under this Deed (other than a payment obligation) remains in
force during the Security Period.






	 	(e)	 	The terms of the other Finance Documents and of any side letters between any Parties in
relation to any Finance Document are incorporated in this Deed to the extent required to
ensure that any purported disposition of any freehold or leasehold property contained in this
Deed is a valid disposition in accordance with Section 2(1) of the Law of Property
(Miscellaneous Provisions) Act 1989.






	 	(f)	 	If the Agent considers that an amount paid to a Finance Party under a Finance Document is
capable of being avoided or otherwise set aside on the liquidation or administration of the
payer or otherwise, then that amount will not be considered to have been irrevocably paid for
the purposes of this Deed.






	 	(g)	 	Unless the context otherwise requires, a reference to a Security Asset includes the proceeds
of sale of that Security Asset.






	 	2.	 	CREATION OF SECURITY






	 	2.1	 	General






	 	(a)	 	All the security created under this Deed:






	 	(i)	 	is created in favour of the Agent;






	 	(ii)	 	is created over present and future assets of the Chargor;






	 	(iii)	 	is security for the payment of all the Secured Liabilities; and






	 	(iv)	 	is made with full title guarantee in accordance with the Law of Property
(Miscellaneous Provisions) Act 1994.






	 	(b)	 	If the rights of the Chargor under a document cannot be secured without the consent of a
party to that document:






	 	(i)	 	the Chargor must notify the Agent promptly;






	 	(ii)	 	this Security will secure all amounts which the Chargor may receive, or has
received, under that document but exclude the document itself; and






	 	(iii)	 	unless the Agent otherwise requires, the Chargor must use reasonable
endeavours to obtain the consent of the relevant party to that document being secured
under this Deed.






	 	(c)	 	The Agent holds the benefit of this Deed on trust for the Finance Parties.






	 	2.2	 	Land






	 	(a)	 	The Chargor charges:






	 	(i)	 	by way of a first legal mortgage all estates or interests in any freehold or
leasehold property now owned by it; and






	 	(ii)	 	(to the extent that they are not the subject of a mortgage under sub-paragraph
(i) above) by way of first fixed charge all estates or interests in any freehold or
leasehold property.






	 	(b)	 	A reference in this Subclause to a mortgage or charge of any freehold or leasehold property
includes:






	 	(i)	 	all buildings, fixtures, fittings and fixed plant and machinery on that
property; and






	 	(ii)	 	the benefit of any covenants for title given or entered into by any predecessor
in title of the Chargor in respect of that property or any moneys paid or payable in
respect of those covenants.






	 	2.3	 	Investments






	 	(a)	 	The Chargor charges:






	 	(i)	 	by way of a first legal mortgage all shares in any member of the Group (other
than the Chargor) owned by it or held by any nominee on its behalf; and






	 	(ii)	 	(to the extent that they are not the subject of a mortgage under sub-paragraph
(i) above) by way of a first fixed charge its interest in all shares, stocks,
debentures, bonds or other securities and investments owned by it or held by any
nominee on its behalf.






	 	(b)	 	A reference in this Subclause to a mortgage or charge of any stock, share, debenture, bond or
other security includes:






	 	(i)	 	any dividend or interest paid or payable in relation to it; and






	 	(ii)	 	any right, money or property accruing or offered at any time in relation to it
by way of redemption, substitution, exchange, bonus or preference, under option rights
or otherwise.






	 	2.4	 	Plant and machinery






The Chargor charges by way of a first fixed charge all plant and machinery owned by the
Chargor and its interest in any plant or machinery in its possession.




	 	2.5	 	Credit balances






The Chargor charges by way of a first fixed charge all of its rights in respect of any
amount standing to the credit of any account (including any account contemplated by this
Deed) it has with any person and the debt represented by it.



	 	 	 
	2.6	 	Book debts etc.
	
 
	 	The Chargor charges by way of a first fixed charge:







	 	(a)	 	all of its book and other debts;






	 	(b)	 	all other moneys due and owing to it; and






	 	(c)	 	the benefit of all rights, securities or guarantees of any nature enjoyed or
held by it in relation to any item under paragraph (a) or (b) above.






	 	2.7	 	Insurances






The Chargor assigns absolutely, subject to a proviso for re-assignment on redemption,
all of its rights in respect of any contract or policy of insurance taken out by it or on
its behalf or in which it has an interest.




	 	2.8	 	Other contracts






The Chargor assigns absolutely, subject to a proviso for re-assignment on redemption,
all of its rights in respect of:




	 	(a)	 	any agreement to which it is a party except to the extent that it is subject to
any fixed security created under any other term of this Clause;






	 	(b)	 	any letter of credit issued in its favour; and






	 	(c)	 	any bill of exchange or other negotiable instrument held by it.





	 	 	 
	2.9	 	Intellectual property
	
 
	 	The Chargor charges by way of a first fixed charge, all of its rights in respect of:







	 	(a)	 	any know-how, patent, trade mark, service mark, design, business name,
topographical or similar right;






	 	(b)	 	any copyright or other intellectual property monopoly right; or






	 	(c)	 	any interest (including by way of licence) in any of the above,





	 	 	 
	2.10

	 	in each case whether registered or not and including all applications for the same.

Miscellaneous

The Chargor charges by way of first fixed charge:







	 	(a)	 	any beneficial interest, claim or entitlement it has in any pension fund;






	 	(b)	 	its goodwill;






	 	(c)	 	the benefit of any authorization (statutory or otherwise) held in connection
with its use of any Security Asset;






	 	(d)	 	the right to recover and receive compensation which may be payable to it in
respect of any authorization referred to in paragraph (c) above; and






	 	(e)	 	its uncalled capital.






	 	2.11	 	Floating charge






	 	(a)	 	The Chargor charges by way of a first floating charge all its assets not at any time
otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or
assignment under this Clause.






	 	(b)	 	Except as provided below, the Agent may by notice to the Chargor convert the floating charge
created by this Subclause into a fixed charge as regards any of the Chargor’s assets specified
in that notice, if:






	 	(i)	 	an Event of Default is outstanding; or






	 	(ii)	 	the Agent considers those assets to be in danger of being seized or sold under
any form of distress, attachment, execution or other legal process or to be otherwise
in jeopardy.






	 	(c)	 	The floating charge created by this Subclause may not be converted into a fixed charge solely
by reason of:






	 	(i)	 	the obtaining of a moratorium; or





	 	 	 
	(ii)

	 	anything done with a view to obtaining a moratorium,

under the Insolvency Act 2000.







	 	(d)	 	The floating charge created by this Subclause will automatically convert into a fixed charge
over all of the Chargor’s assets if an administrator is appointed or the Agent receives notice
of an intention to appoint an administrator.






	 	(e)	 	The floating charge created by this Subclause is a qualifying floating charge for the purpose
of paragraph 14 of Schedule B1 to the Insolvency Act 1986.






	 	3.	 	REPRESENTATIONS — GENERAL






	 	3.1	 	Nature of security






The Chargor represents to each Finance Party that this Deed creates those Security
Interests it purports to create and is not liable to be amended or otherwise set aside on
the liquidation or administration of the Chargor or otherwise.




	 	3.2	 	Times for making representations






	 	(a)	 	The representations set out in this Deed (including in this Clause) are made on the date of
this Deed.






	 	(b)	 	Unless a representation is expressed to be given at a specific date, each representation
under this Deed is deemed to be repeated by the Chargor on the date of each Request and on
each Utilization Date.






	 	(c)	 	When a representation is repeated, it is applied to the circumstances existing at the time of
repetition.






	 	4.	 	RESTRICTIONS ON DEALINGS






The Chargor must not:




	 	(a)	 	create or permit to subsist any Security Interest on any Security Asset; or






	 	(b)	 	sell, transfer, licence, lease or otherwise dispose of any Security Asset,






except as expressly allowed under the Credit Agreement.




	 	5.	 	LAND





	 	 	 
	5.1	 	General
	
 
	 	In this Clause:







Environmental Approval means any authorization required by any Environmental Law.




Environmental Claim means any claim by any person in connection with:




	 	(a)	 	a breach, or alleged breach, of an Environmental Law;






	 	(b)	 	any accident, fire, explosion or other event of any type involving an emission
or substance which is capable of causing harm to any living organism or the
environment; or






	 	(c)	 	any other environmental contamination.






Environmental Law means any law or regulation concerning:




	 	(a)	 	the protection of health and safety;






	 	(b)	 	the environment; or






	 	(c)	 	any emission or substance which is capable of causing harm to any living
organism or the environment.






Fixtures means all fixtures and fittings and fixed plant and machinery on the Mortgaged
Property.




Insured Property Assets means the Premises and all the Chargor’s other assets of an
insurable nature in the Premises.




Mortgaged Property means all freehold or leasehold property included in the definition
of Security Assets.




Premises means all buildings and erections included in the definition of Security
Assets.




Report on Title means any report on title on the Mortgaged Property addressed and
provided at the request of the Agent before the date of this Deed or, in the case of any
Mortgaged Property acquired after the date of this Deed, its date of acquisition.



	 	 	 
	5.2	 	Information for Report on Title
	
 
	 	The Chargor represents to each Finance Party that:







	 	(a)	 	the information provided to the lawyers who prepared any Report on Title for
the purpose of that Report on Title was true in all material respects at the date it
was expressed to be given;






	 	(b)	 	the information referred to in paragraph (a) above was at the date it was
expressed to be given complete and did not omit any information which, if disclosed
would make that information untrue or misleading in any material respect; and






	 	(c)	 	as at the date of this Deed, nothing has occurred since the date of any
information referred to in paragraph (a) above which renders that information untrue or
misleading in any respect and which, if disclosed, would make that information untrue
or misleading in any material respect.





	 	 	 
	5.3	 	Compliance with leases
	
 
	 	The Chargor must:







	 	(a)	 	perform all the terms on its part contained in any lease comprised in the
Mortgaged Property; and






	 	(b)	 	not do or allow to be done any act as a result of which any lease comprised in
the Mortgaged Property may become liable to forfeiture or otherwise be terminated.






	 	5.4	 	Acquisitions






	 	(a)	 	If the Chargor acquires any freehold or leasehold property after the date of this Deed it
must:






	 	(i)	 	notify the Agent immediately;






	 	(ii)	 	immediately on request by the Agent and at the cost of the Chargor, execute and
deliver to the Agent a legal mortgage in favour of the Agent of that property in any
form which the Agent may require;






	 	(iii)	 	if the title to that freehold or leasehold property is registered at H.M. Land
Registry or required to be so registered, give H.M. Land Registry written notice of
this Security; and






	 	(iv)	 	if applicable, ensure that this Security is correctly noted in the Register of
Title against that title at H.M. Land Registry.






	 	(b)	 	If the consent of the landlord in whom the reversion of a lease is vested is required for the
Chargor to execute a legal mortgage over it, the Chargor will not be required to perform that
obligation unless and until it has obtained the landlord’s consent. The Chargor must use its
reasonable endeavours to obtain the landlord’s consent.






	 	5.5	 	Compliance with applicable laws and regulations






The Chargor must perform all its obligations under any law or regulation in any way
related to or affecting the Mortgaged Property where failure to do so could reasonably be
expected to have a Material Adverse Effect.




	 	5.6	 	Notices






The Chargor must, within 14 days after the receipt by the Chargor of any application,
requirement, order or notice served or given by any public or local or any other authority
with respect to the Mortgaged Property (or any part of it):




	 	(a)	 	deliver a copy to the Agent; and






	 	(b)	 	inform the Agent of the steps taken or proposed to be taken to comply with the
relevant requirement.






	 	5.7	 	Leases






Except as permitted by the Credit Agreement, the Chargor must not grant or agree to
grant (whether in exercise or independently of any statutory power) any lease or tenancy of
the Mortgaged Property or any part of it or accept a surrender of any lease or tenancy or
confer upon any person any contractual licence or right to occupy the Mortgaged Property.




	 	5.8	 	H.M. Land Registry






The Chargor consents to a restriction in the following terms being entered into on the
Register of Title relating to any Mortgaged Property registered at H.M. Land Registry:




“No disposition of the registered estate by the proprietor of the registered estate is to be
registered without a written consent signed by the proprietor for the time being of the
security agreement referred to in the charges register dated [ ] in favour of [
] (as agent and trustee for the Finance Parties referred to in that security agreement)
or its conveyancer.”




	 	5.9	 	Deposit of title deeds






The Chargor must deposit with the Agent all deeds and documents of title relating to
the Mortgaged Property and all local land charges, land charges and Land Registry search
certificates and similar documents received by or on behalf of the Chargor.




	 	5.10	 	Access






The Chargor must permit the Agent and any person nominated by it at all reasonable
times to enter any part of the Mortgaged Property and view the state of it.




	 	5.11	 	Investigation of title






The Chargor must grant the Agent or its lawyers on request all facilities within the
power of the Chargor to enable the Agent or its lawyers (at the expense of the Chargor) to:




	 	(a)	 	carry out investigations of title to the Mortgaged Property; and






	 	(b)	 	make such enquiries in relation to any part of the Mortgaged Property as a
prudent mortgagee might carry out.






	 	5.12	 	Report on title






The Chargor must, as soon as practicable after a request by the Agent, provide the
Agent with a report on title of the Chargor to the Mortgaged Property concerning those items
which may properly be sought to be covered by a prudent mortgagee in a lawyer’s report of
this nature.




	 	5.13	 	Power to remedy






If the Chargor fails to perform any term affecting the Mortgaged Property, the Chargor
must allow the Agent or its agents and contractors:




	 	(a)	 	to enter any part of the Mortgaged Property;






	 	(b)	 	to comply with or object to any notice served on the Chargor in respect of the
Mortgaged Property; and






	 	(c)	 	to take any action as the Agent may reasonably consider necessary or desirable
to prevent or remedy any breach of any such term or to comply with or object to any
such notice.






The Chargor must immediately on request by the Agent pay the costs and expenses of the
Agent or its agents and contractors incurred in connection with any action taken by it under
this Subclause.




	 	6.	 	INVESTMENTS





	 	 	 
	6.1	 	General
	
 
	 	In this Clause:
	
 
	 	Investments means:







	 	(a)	 	all shares, stocks, debentures, bonds or other securities and investments
included in the definition of Security Assets in Clause 1.1 (Definitions);






	 	(b)	 	any dividend or interest paid or payable in relation to any of the above; and






	 	(c)	 	any right, money or property accruing or offered at any time in relation to any
of the above by way of redemption, substitution, exchange, bonus or preference under
option rights or otherwise.





	 	 	 
	6.2	 	Investments
	
 
	 	The Chargor represents to each Finance Party that:







	 	(a)	 	to the extent applicable, the Investments, are fully paid; and






	 	(b)	 	it is the sole legal and beneficial owner of the Investments.





	 	 	 
	6.3	 	Deposit
	
 
	 	The Chargor must:







	 	(a)	 	immediately deposit with the Agent, or as the Agent may direct, all
certificates and other documents of title or evidence of ownership in relation to any
Investment; and






	 	(b)	 	promptly execute and deliver to the Agent all share transfers and other
documents which may be requested by the Agent in order to enable the Agent or its
nominees to be registered as the owner or otherwise obtain a legal title to any
Investment.






	 	6.4	 	Changes to rights






The Chargor must not take or allow the taking of any action on its behalf which may
result in the rights attaching to any of the Investments being altered.




	 	6.5	 	Calls






	 	(a)	 	The Chargor must pay all calls or other payments due and payable in respect of any
Investment.






	 	(b)	 	If the Chargor fails to do so, the Agent may pay the calls or other payments on behalf of the
Chargor. The Chargor must immediately on request reimburse the Agent for any payment made by
the Agent under this Subclause.






	 	6.6	 	Other obligations in respect of Investments






	 	(a)	 	The Chargor must promptly copy to the Agent and comply with all requests for information
which is within its knowledge and which are made under section 212 of the Companies Act 1985
or any similar provision contained in any articles of association or other constitutional
document relating to any of the Investments. If it fails to do so, the Agent may elect to
provide such information as it may have on behalf of the Chargor.






	 	(b)	 	The Chargor must comply with all other conditions and obligations assumed by it in respect of
any Investment.






	 	(c)	 	The Agent is not obliged to:






	 	(i)	 	perform any obligation of the Chargor;






	 	(ii)	 	make any payment, or to make any enquiry as to the nature or sufficiency of any
payment received by it or the Chargor; or






	 	(iii)	 	present or file any claim or take any other action to collect or enforce the
payment of any amount to which it may be entitled under this Deed,





	 	 	 	 	 
	6.7

	 	Voting rights
	 	in respect of any Investment.










	 	(a)	 	Before this Security becomes enforceable:






	 	(i)	 	the voting rights, powers and other rights in respect of the Investments must
(if exercisable by the Agent) be exercised in any manner which the Chargor may direct
in writing; and






	 	(ii)	 	all dividends or other income paid or payable in relation to any Investments
must be paid directly to the Chargor.






The Chargor must indemnify the Agent against any loss liability incurred by the Agent
as a consequence of the Agent acting in respect of the Investments on the direction of the
Chargor.




	 	(b)	 	After this Security has become enforceable, the Agent may exercise (in the name of the
Chargor and without any further consent or authority on the part of the Chargor) any voting
rights and any powers or rights which may be exercised by the legal or beneficial owner of any
Investment, any person who is the holder of any Investment or otherwise.






	 	7.	 	ACCOUNTS





	 	 	 
	7.1	 	General
	
 
	 	In this Clause:







Account Bank means a person with whom a Security Account is maintained under this
Clause.




Receipts Account meansaccount number 91571549 with HSBC, London Branch, 5 Wimbledon
Hill Road, Wimbledon London SW19 7NF.




Security Account means the Receipts Account and any other account established under
this Clause.




	 	7.2	 	Accounts






All Security Accounts must be maintained at a branch of the Account Bank approved by
the Agent. The initial Account Bank is HSBC, London Branch, 5 Wimbledon Hill Road, Wimbledon
London, SW19 7NF.




	 	7.3	 	Change of Account Bank






	 	(a)	 	The Account Bank may be changed to another bank or financial institution if the Agent so
requires.






	 	(b)	 	A change only becomes effective when the proposed new Account Bank agrees with the Agent and
the Chargor, in a manner satisfactory to the Agent, to fulfil the role of the Account Bank
under this Deed.






	 	(c)	 	If there is a change of Account Bank, the amount (if any) standing to the credit of the
Security Accounts maintained with the old Account Bank will be transferred to the
corresponding Security Accounts maintained with the new Account Bank immediately upon the
appointment taking effect.






	 	(d)	 	The Chargor must take any action which the Agent may require to facilitate a change of
Account Bank and any transfer of credit balances (including the execution of bank mandate
forms).






	 	7.4	 	Interest






Amounts standing to the credit of each Security Account will bear interest at a rate
considered by the Account Bank to be a fair market rate.




	 	7.5	 	Book debts and receipts






	 	(a)	 	The Chargor must get in and realise its:






	 	(i)	 	securities to the extent held by way of temporary investment;






	 	(ii)	 	book and other debts and other moneys due and owing to it; and






	 	(iii)	 	royalties, fees and income of any nature owed to it,






in the ordinary course of its business and hold the proceeds of the getting in and
realisation (until payment into the Receipts Account if required in accordance with
paragraph (b) below) on trust for the Agent.




	 	(b)	 	The Chargor must, except to the extent that the Agent otherwise agrees, pay all the proceeds
of the getting in and realisation into the Receipts Account.






	 	7.6	 	Withdrawals






	 	(a)	 	Except with the prior consent of the Agent or as provided below, the Chargor must not
withdraw any moneys standing to the credit of a Security Account.






	 	(b)	 	The Agent (or a Receiver) may (subject to the payment of any claims having priority to this
Security) withdraw amounts standing to the credit of a Security Account to meet an amount due
and payable under the Finance Documents when it is due and payable.






	 	7.7	 	Notices of charge






	 	(a)	 	The Chargor must:






	 	(i)	 	promptly give notice to each Account Bank substantially in the form of Part 1
of Schedule 1 (Forms of letter for Account Bank); and






	 	(ii)	 	use reasonable endeavours to ensure that each Account Bank acknowledges the
notice substantially in the form of Part 2 of Schedule 1 (Forms of letter for Account
Bank).






	 	(b)	 	Upon receipt of the acknowledgement in paragraph (a)(ii) above from an Account Bank, the
Agent will send a letter to that Account Bank substantially in the form of Part 3 of Schedule
1 (Forms of letter for Account Bank).






	 	8.	 	RELEVANT CONTRACTS





	 	 	 
	8.1	 	General
	
 
	 	In this Clause:







Relevant Contract means any agreement to which the Chargor is a party and which the
Agent has designated a Relevant Contract.



	 	 	 
	8.2	 	Preservation
	
 
	 	The Chargor must not, without the prior consent of the Agent:







	 	(a)	 	amend or waive any term of, or terminate, any Relevant Contract; or






	 	(b)	 	take any action which might jeopardise the existence or enforceability of any
Relevant Contract.





	 	 	 
	8.3	 	Other undertaking
	
 
	 	The Chargor must:







	 	(a)	 	duly and promptly perform its obligations, and diligently pursue its rights,
under each Relevant Contract; and






	 	(b)	 	supply the Agent and any Receiver with copies of each Relevant Contract and any
information and documentation relating to any Relevant Contract requested by the Agent
or any Receiver.





	 	 	 
	8.4	 	Notices of assignment
	
 
	 	The Chargor must:







	 	(a)	 	immediately serve a notice of assignment, substantially in the form of Part 1
of Schedule 2 (Forms of letter for Relevant Contracts), on each counterparty to a
Relevant Contract; and






	 	(b)	 	use its reasonable endeavours to procure that each such party acknowledges that
notice, substantially in the form of Part 2 of Schedule 2 (Forms of letter for Relevant
Contracts).






	 	9.	 	WHEN SECURITY BECOMES ENFORCEABLE






	 	9.1	 	Event of Default






This Security will become immediately enforceable if an Event of Default occurs and is
continuing.




	 	9.2	 	Discretion






After this Security has become enforceable, the Agent may in its absolute discretion
enforce all or any part of this Security in any manner it sees fit or as the Majority
Lenders direct.




	 	9.3	 	Power of sale






The power of sale and other powers conferred by Section 101 of the Act, as amended by
this Deed, will be immediately exercisable at any time after this Security has become
enforceable.




	 	10.	 	ENFORCEMENT OF SECURITY






	 	10.1	 	General






	 	(a)	 	For the purposes of all powers implied by statute, the Secured Liabilities are deemed to have
become due and payable on the date of this Deed.






	 	(b)	 	Section 103 of the Act (restricting the power of sale) and Section 93 of the Act (restricting
the right of consolidation) do not apply to this Security.






	 	(c)	 	The statutory powers of leasing conferred on the Agent are extended so as to authorise the
Agent to lease, make agreements for leases, accept surrenders of leases and grant options as
the Agent may think fit and without the need to comply with any provision of section 99 or 100
of the Act.






	 	10.2	 	No liability as mortgagee in possession






Neither the Agent nor any Receiver will be liable, by reason of entering into
possession of a Security Asset, to account as mortgagee in possession or for any loss on
realisation or for any default or omission for which a mortgagee in possession might be
liable.




	 	10.3	 	Privileges






Each Receiver and the Agent is entitled to all the rights, powers, privileges and
immunities conferred by the Act on mortgagees and receivers duly appointed under the Act,
except that Section 103 of the Act does not apply.




	 	10.4	 	Protection of third parties






No person (including a purchaser) dealing with the Agent or a Receiver or its or his
agents will be concerned to enquire:




	 	(a)	 	whether the Secured Liabilities have become payable;






	 	(b)	 	whether any power which the Agent or a Receiver is purporting to exercise has
become exercisable or is being properly exercised;






	 	(c)	 	whether any money remains due under the Finance Documents; or






	 	(d)	 	how any money paid to the Agent or to that Receiver is to be applied.






	 	10.5	 	Redemption of prior mortgages






	 	(a)	 	At any time after this Security has become enforceable, the Agent may:






	 	(i)	 	redeem any prior Security Interest against any Security Asset; and/or






	 	(ii)	 	procure the transfer of that Security Interest to itself; and/or






	 	(iii)	 	settle and pass the accounts of the prior mortgagee, chargee or encumbrancer;
any accounts so settled and passed will be, in the absence of manifest error,
conclusive and binding on the Chargor.






	 	(b)	 	The Chargor must pay to the Agent, immediately on demand, the costs and expenses incurred by
the Agent in connection with any such redemption and/or transfer, including the payment of any
principal or interest.






	 	10.6	 	Contingencies






If this Security is enforced at a time when no amount is due under the Finance
Documents but at a time when amounts may or will become due, the Agent (or the Receiver) may
pay the proceeds of any recoveries effected by it into a suspense account.




	 	11.	 	RECEIVER






	 	11.1	 	Appointment of Receiver






	 	(a)	 	Except as provided below, the Agent may appoint any one or more persons to be a Receiver of
all or any part of the Security Assets if:






	 	(i)	 	this Security has become enforceable; or






	 	(ii)	 	the Chargor so requests the Agent in writing at any time.






	 	(b)	 	Any appointment under paragraph (a) above may be by deed, under seal or in writing under its
hand.






	 	(c)	 	Except as provided below, any restriction imposed by law on the right of a mortgagee to
appoint a Receiver (including under section 109(1) of the Act) does not apply to this Deed.






	 	(d)	 	The Agent is not entitled to appoint a Receiver solely as a result of the obtaining of a
moratorium (or anything done with a view to obtaining a moratorium) under section 1A of the
Insolvency Act 1986.






	 	(e)	 	The Agent may not appoint an administrative receiver (as defined in section 29(2) of the
Insolvency Act 1986) over the Security Assets if the Agent is prohibited from so doing by
section 72A of the Insolvency Act 1986 and no exception to the prohibition on appointing an
administrative receiver applies.






	 	11.2	 	Removal






The Agent may by writing under its hand (subject to any requirement for an order of the
court in the case of an administrative receiver) remove any Receiver appointed by it and
may, whenever it thinks fit, appoint a new Receiver in the place of any Receiver whose
appointment may for any reason have terminated.




	 	11.3	 	Remuneration






The Agent may fix the remuneration of any Receiver appointed by it and the maximum rate
specified in Section 109(6) of the Act will not apply.




	 	11.4	 	Agent of the Chargor






	 	(a)	 	A Receiver will be deemed to be the agent of the Chargor for all purposes and accordingly
will be deemed to be in the same position as a Receiver duly appointed by a mortgagee under
the Act. The Chargor alone is responsible for the contracts, engagements, acts, omissions,
defaults and losses of a Receiver and for liabilities incurred by a Receiver.






	 	(b)	 	No Finance Party will incur any liability (either to the Chargor or to any other person) by
reason of the appointment of a Receiver or for any other reason.






	 	11.5	 	Relationship with Agent






To the fullest extent allowed by law, any right, power or discretion conferred by this
Deed (either expressly or impliedly) or by law on a Receiver may after this Security becomes
enforceable be exercised by the Agent in relation to any Security Asset without first
appointing a Receiver and notwithstanding the appointment of a Receiver.




	 	12.	 	POWERS OF RECEIVER






	 	12.1	 	General






	 	(a)	 	A Receiver has all of the rights, powers and discretions set out below in this Clause in
addition to those conferred on it by any law; this includes:






	 	(i)	 	in the case of an administrative receiver, all the rights, powers and
discretions conferred on an administrative receiver under the Insolvency Act, 1986; and






	 	(ii)	 	otherwise, all the rights, powers and discretions conferred on a receiver (or a
receiver and manager) under the Act and the Insolvency Act, 1986.






	 	(b)	 	If there is more than one Receiver holding office at the same time, each Receiver may (unless
the document appointing him states otherwise) exercise all of the powers conferred on a
Receiver under this Deed individually and to the exclusion of any other Receiver.






	 	12.2	 	Possession






A Receiver may take immediate possession of, get in and collect any Security Asset.



	 	 	 
	12.3	 	Carry on business
	12.4

	 	A Receiver may carry on any business of the Chargor in any manner he thinks fit.

Employees







	 	(a)	 	A Receiver may appoint and discharge managers, officers, agents, accountants, servants,
workmen and others for the purposes of this Deed upon such terms as to remuneration or
otherwise as he thinks fit.






	 	(b)	 	A Receiver may discharge any person appointed by the Chargor.






	 	12.5	 	Borrow money






A Receiver may raise and borrow money either unsecured or on the security of any
Security Asset either in priority to this Security or otherwise and generally on any terms
and for whatever purpose which he thinks fit.




	 	12.6	 	Sale of assets






	 	(a)	 	A Receiver may sell, exchange, convert into money and realise any Security Asset by public
auction or private contract and generally in any manner and on any terms which he thinks fit.






	 	(b)	 	The consideration for any such transaction may consist of cash, debentures or other
obligations, shares, stock or other valuable consideration and any such consideration may be
payable in a lump sum or by instalments spread over any period which he thinks fit.






	 	(c)	 	Fixtures, other than landlord’s fixtures, may be severed and sold separately from the
property containing them without the consent of the Chargor.






	 	12.7	 	Leases






A Receiver may let any Security Asset for any term and at any rent (with or without a
premium) which he thinks fit and may accept a surrender of any lease or tenancy of any
Security Asset on any terms which he thinks fit (including the payment of money to a lessee
or tenant on a surrender).




	 	12.8	 	Compromise






A Receiver may settle, adjust, refer to arbitration, compromise and arrange any claim,
account, dispute, question or demand with or by any person who is or claims to be a creditor
of the Chargor or relating in any way to any Security Asset.




	 	12.9	 	Legal actions






A Receiver may bring, prosecute, enforce, defend and abandon any action, suit or
proceedings in relation to any Security Asset which he thinks fit.




	 	12.10	 	Receipts






A Receiver may give a valid receipt for any moneys and execute any assurance or thing
which may be proper or desirable for realising any Security Asset.




	 	12.11	 	Subsidiaries






A Receiver may form a Subsidiary of the Chargor and transfer to that Subsidiary any
Security Asset.



	 	 	 
	12.12	 	Delegation
	12.13

12.14

	 	A Receiver may delegate his powers in accordance with this Deed.

Lending

A Receiver may lend money or advance credit to any customer of the Chargor.

Protection of assets

A Receiver may:







	 	(a)	 	effect any repair or insurance and do any other act which the Chargor might do
in the ordinary conduct of its business to protect or improve any Security Asset;






	 	(b)	 	commence and/or complete any building operation; and






	 	(c)	 	apply for and maintain any planning permission, building regulation approval or
any other authorisation,





	 	 	 
	12.15

	 	in each case as he thinks fit.

Other powers

A Receiver may:







	 	(a)	 	do all other acts and things which he may consider desirable or necessary for
realising any Security Asset or incidental or conducive to any of the rights, powers or
discretions conferred on a Receiver under or by virtue of this Deed or law;






	 	(b)	 	exercise in relation to any Security Asset all the powers, authorities and
things which he would be capable of exercising if he were the absolute beneficial owner
of that Security Asset; and






	 	(c)	 	use the name of the Chargor for any of the above purposes.






	 	13.	 	APPLICATION OF PROCEEDS






Any moneys received by the Agent or any Receiver after this Security has become
enforceable must be applied in the following order of priority:




	 	(a)	 	in or towards payment of or provision for all costs and expenses incurred by
the Agent or any Receiver under or in connection with this Deed and of all remuneration
due to any Receiver under or in connection with this Deed;






	 	(b)	 	in or towards payment of or provision for the Secured Liabilities; and






	 	(c)	 	in payment of the surplus (if any) to the Chargor or other person entitled to
it.






This Clause is subject to the payment of any claims having priority over this Security.
This Clause does not prejudice the right of any Finance Party to recover any shortfall from
the Chargor.




	 	14.	 	EXPENSES AND INDEMNITY






The Chargor must:




	 	(a)	 	immediately on demand pay all costs and expenses (including legal fees)
properly incurred in connection with this Deed by any Finance Party, Receiver,
attorney, manager, agent or other person appointed by the Agent under this Deed
including any arising from any actual or alleged breach by any person of any law or
regulation, whether relating to the environment or otherwise; and






	 	(b)	 	keep each of them indemnified against any failure or delay in paying those
costs or expenses.






	 	15.	 	DELEGATION






	 	15.1	 	Power of Attorney






The Agent or any Receiver may delegate by power of attorney or in any other manner to
any person any right, power or discretion exercisable by it under this Deed.




	 	15.2	 	Terms






Any such delegation may be made upon any terms (including power to sub-delegate) which
the Agent or any Receiver may think fit.




	 	15.3	 	Liability






Neither the Agent nor any Receiver will be in any way liable or responsible to the
Chargor for any loss or liability arising from any act, default, omission or misconduct on
the part of any delegate or sub-delegate.




	 	16.	 	FURTHER ASSURANCES






The Chargor must, at its own expense, take whatever action the Agent or a Receiver may
reasonably require for:




	 	(a)	 	creating, perfecting or protecting any security intended to be created by this
Deed; or






	 	(b)	 	facilitating the realisation of any Security Asset, or the exercise of any
right, power or discretion exercisable, by the Agent or any Receiver or any of its
delegates or sub-delegates in respect of any Security Asset.






This includes:




	 	(i)	 	the execution of any transfer, conveyance, assignment or assurance of any
property, whether to the Agent or to its nominee; or





	 	 	 
	(ii)

	 	the giving of any notice, order or direction and the making of any registration,

which, in any such case, the Agent may think expedient.







	 	17.	 	POWER OF ATTORNEY






The Chargor, by way of security, irrevocably and severally appoints the Agent, each
Receiver and any of its delegates or sub-delegates to be its attorney to take any action
which the Chargor is obliged to take under this Deed. The Chargor ratifies and confirms
whatever any attorney does or purports to do under its appointment under this Clause.




	 	18.	 	MISCELLANEOUS






	 	18.1	 	Covenant to pay






The Chargor must pay or discharge the Secured Liabilities in the manner provided for in
the Finance Documents.




	 	18.2	 	Tacking






Each Finance Party must perform its obligations under the Credit Agreement (including
any obligation to make available further advances).




	 	18.3	 	New Accounts






	 	(a)	 	If any subsequent charge or other interest affects any Security Asset, the Finance Party may
open a new account with the Chargor.






	 	(b)	 	If the Finance Party does not open a new account, it will nevertheless be treated as if it
had done so at the time when it received or was deemed to have received notice of that charge
or other account.






	 	(c)	 	As from that time all payments made to the Finance Party will be credited or be treated as
having been credited to the new account and will not operate to reduce any Secured Liability.






	 	18.4	 	Time deposits






Without prejudice to any right of set-off any Finance Party may have under any other
Finance Document or otherwise, if any time deposit matures on any account the Chargor has
with any Finance Party within the Security Period when:




	 	(a)	 	this Security has become enforceable; and






	 	(b)	 	no Secured Liability is due and payable,






that time deposit will automatically be renewed for any further maturity which that
Finance Party considers appropriate.




	 	18.5	 	Notice of assignment






This Deed constitutes notice in writing to the Chargor of any charge or assignment of a
debt owed by the Chargor to any other member of the Group and contained in any other
Security Document.




	 	19.	 	RELEASE






At the end of the Security Period, the Finance Parties must, at the request and cost of
the Chargor, take whatever action is necessary to release the Security Assets from this
Security.




	 	20.	 	GOVERNING LAW






This Deed is governed by English law.



This Deed has been entered into as a deed on the date stated at the beginning of this Deed.



SIGNATORIES



Chargor



	 	 	 
	EXECUTED AS A DEED by)

WARP SOLUTIONS LIMITED)

acting by)

	 	





/s/ Brian Sisko

Brian Sisko

Authorized Signatory

/s/ Ernest Mysogland

Ernest Mysogland

Authorized Signatory
	 
	 	 
	Title:

	 	Agent

FORTRESS CREDIT CORP.

By:/s/ Marc K. Furstein

Name: Marc K. Furstein

Chief Operating Officer