<PAGE>

                                                                    EXHIBIT 4.16

THIS COUNTERPARTY AGREEMENT is made as of this 30th day of November, 2004.

R E C I T A L S:

A.    Rogers Cable Inc. (the "Corporation") (formerly Rogers Cablesystems
      Limited) has issued certain Senior Secured Bonds (as defined in the Deed
      of Trust (defined below)) pursuant to a restated deed of trust and
      mortgage (the "Deed of Trust"), dated as of January 31, 1995, between the
      Corporation and National Trust Company, as trustee (the "Trustee") (which
      restated an amended and restated trust deed, dated as of December 20,
      1991, between the same parties), as supplemented by a first supplemental
      deed of trust and mortgage (the "First Supplemental Deed"), dated as of
      December 31, 2003, among the Corporation, Rogers Cable Communications Inc.
      ("RCCI") and the Trustee;

B.    The holders of such Senior Secured Bonds and certain other lenders to the
      Corporation named therein entered into an amended and restated
      inter-creditor agreement (the "Restated Inter-Creditor Agreement") dated
      as of August 1, 1992;

C.    Certain holders (the "1992 Swap Bondholders") of a Senior Secured Bond
      (individually, a "Swap Bond" or, collectively, the "Swap Bonds") issued to
      secure (i) all cross currency interest rate exchange agreements or
      interest rate exchange agreements entered into with the Corporation on or
      prior to July 24, 1992 whether or not they are designated as entitled to
      the benefit of a Swap Bond and (ii) certain cross currency interest rate
      exchange agreements or interest rate exchange agreements entered into
      after July 24, 1992 and which are designated in writing in such agreements
      to be entitled to the benefit of the security of a Swap Bond have entered
      into counterparty agreements to the Restated Inter-Creditor Agreement as
      required by section 3.5 thereof;

D.    JPMorgan Chase Bank, N.A. (formerly JPMorgan Chase Bank), as trustee (the
      "1995 Note Trustee") for the holders of Series B Senior Secured Second
      Priority Notes due 2005 issued by the Corporation pursuant to an
      indenture, dated as of March 20, 1995, among the Corporation, Rogers
      Cablesystems Ontario Limited ("RCOL"), Rogers Ottawa, Limited/Limitee
      ("ROL"), Rogers Cablesystems Georgian Bay Limited ("RCGB"), Rogers
      Cablesystems North Bay Limited ("RCNB"), Rogers Cablesystems Huntsville
      Limited ("RCHL"), Rogers Security Services Inc. ("RSS") and 1995 Note
      Trustee, as supplemented by a first supplemental indenture, dated as of
      May 29, 1996, among Rogers Cablesystems Limited (now the Corporation),
      ROL, RCOL, RCNB, RCHL, RCGB and Rogers Canguard Inc. (formerly RSS) and
      the 1995 Note Trustee and a second supplemental indenture, dated as of
      December 31, 2003, among the Corporation, RCCI, RCOL, ROL, RCGB and the
      1995 Note Trustee, executed a counterparty agreement to the Restated
      Inter-Creditor Agreement, dated March 20, 1995, as required by section 3.5
      of the Restated Inter-Creditor Agreement;

E.    CIBC Mellon Trust Company, as trustee (the "Canadian Trustee") for the
      holders of Senior (Secured) Second Priority Notes due 2007 issued by the
      Corporation pursuant to an indenture, dated as of February 5, 2002,
      between the Corporation and the Canadian Trustee, as supplemented by a
      first supplemental indenture, dated as of December 31, 2003, among the
      Corporation, RCCI and the Canadian Trustee, executed a counterparty
      agreement to the Restated Inter-Creditor Agreement, dated February 5,
      2002, as required by section 3.5 of the Restated Inter-Creditor Agreement;

<PAGE>
                                      -2-

F.    JPMorgan Chase Bank, N.A. (formerly JPMorgan Chase Bank), as trustee (the
      "2002 10-Year Note Trustee") for the holders of Senior (Secured) Second
      Priority Notes due 2012 issued by the Corporation pursuant to an
      indenture, dated as of April 30, 2002, between the Corporation and the
      2002 10-Year Note Trustee, as supplemented by a first supplemental
      indenture, dated as of December 31, 2003, among the Corporation, RCCI and
      the 2002 10-Year Note Trustee, executed a counterparty agreement to the
      Restated Inter-Creditor Agreement, dated as of April 30, 2002, as required
      by section 3.5 of the Restated Inter-Creditor Agreement;

G.    JPMorgan Chase Bank, N.A. (formerly JPMorgan Chase Bank), as trustee (the
      "2002 30-Year Debenture Trustee") for the holders of Senior (Secured)
      Second Priority Debentures due 2032 issued by the Corporation pursuant to
      an indenture, dated as of April 30, 2002, between the Corporation and the
      2002 30-Year Debenture Trustee, as supplemented by a first supplemental
      indenture, dated as of December 31, 2003, among the Corporation, RCCI and
      the 2002 30-Year Debenture Trustee, executed a counterparty agreement to
      the Restated Inter-Creditor Agreement, dated as of April 30, 2002, as
      required by section 3.5 of the Restated Inter-Creditor Agreement;

H.    Bank of Montreal ("BMO") as holder of a Senior Secured Bond issued to
      secure the obligations of the Corporation under certain present and future
      cross-currency interest rate exchange agreements and/or any other foreign
      exchange and/or interest hedging agreements, executed a counterparty
      agreement to the Restated Inter-Creditor Agreement, dated June 10, 2002,
      as required by section 3.5 of the Restated Inter-Creditor Agreement;

I.    JPMorgan Chase Bank, N.A. (formerly JPMorgan Chase Bank), as trustee (the
      "2003 Note Trustee") for the holders of Senior (Secured) Second Priority
      Notes due 2013 issued by the Corporation pursuant to an indenture, dated
      as of June 19, 2003, between the Corporation and the 2003 Note Trustee, as
      supplemented by a first supplemental indenture, dated as of December 31,
      2003, among the Corporation, RCCI and the 2003 Note Trustee, executed a
      counterparty agreement to the Restated Inter-Creditor Agreement, dated as
      of June 19, 2003, as required by section 3.5 of the Restated
      Inter-Creditor Agreement;

J.    Citibank Canada ("Citibank") as holder of a Senior Secured Bond issued to
      secure the obligations of the Corporation under certain present and future
      cross-currency interest rate exchange agreements and/or any other foreign
      exchange and/or interest hedging agreements, executed a counterparty
      agreement to the Restated Inter-Creditor Agreement, dated as of June 23,
      2003, as required by section 3.5 of the Restated Inter-Creditor Agreement;

K.    Pursuant to the First Supplemental Deed, RCCI became a co-obligor, jointly
      and severally liable, with the Corporation in respect of the Corporation's
      covenants and obligations in respect of the indentures described above and
      the securities issued thereunder, and in respect of the Deed of Trust and
      the bonds issued thereunder, and on December 31, 2003 RCCI executed a
      counterparty agreement to the Restated Inter-Creditor Agreement in which
      RCCI agreed to be bound by the terms of the Restated Inter-Creditor
      Agreement on the same basis as, and jointly and severally with, the
      Corporation;

<PAGE>
                                      -3-

L.    JPMorgan Chase Bank, N.A. (formerly JPMorgan Chase Bank), as trustee (the
      "2004 10-Year Note Trustee") for holders of Senior (Secured) Priority
      Notes due 2014 issued by the Corporation pursuant to an indenture, dated
      as of March 11, 2004, between the Corporation and the 2004 10-Year Note
      Trustee, executed a counterparty agreement to the Restated Inter-Creditor
      Agreement, dated as of March 11, 2004, as required by section 3.5 of the
      Restated Inter-Creditor Agreement;

M.    The undersigned is a holder of a Senior Secured Bond (the "2011 Note Trust
      Bond") issued to secure the obligations of the Corporation under (i) an
      indenture (the "2011 Note Indenture"), of even date herewith, between the
      Corporation and JPMorgan Chase Bank, N.A., as trustee (the "2011 Note
      Trustee"), pursuant to which the Corporation intends to issue Senior
      (Secured) Second Priority Notes due 2011 (the "2011 Notes") and (ii) the
      2011 Notes;

N.    As a condition of being issued the 2011 Note Trust Bond, the 2011 Note
      Trustee agreed to enter into a counterparty agreement to the Restated
      Inter-Creditor Agreement, as required by section 3.5 thereof; and

O.    All capitalized terms not otherwise defined herein shall have the meanings
      attributed thereto in the Restated Inter-Creditor Agreement.

NOW THEREFORE:

            The undersigned, as trustee, agrees that, in respect of all amounts
owing on account of principal, interest, premium, fees or otherwise pursuant to
the 2011 Note Indenture and under the 2011 Notes (collectively, the "Debt") that
may be owing to such undersigned holder of the 2011 Note Trust Bond, the
undersigned, as trustee, is hereby bound by the terms of the Restated
Inter-Creditor Agreement on the same basis as the Tranche B Lenders, the 1992
Swap Bondholders, the 1995 Note Trustee, the Canadian Trustee, the 2002 10-Year
Note Trustee, the 2002 30-Year Debenture Trustee, BMO, the 2003 Note Trustee,
Citibank and the 2004 10-Year Note Trustee including, for greater certainty and
without limitation, the pari passu right to payment in respect of the Debt
pursuant to section 2.1 of the Restated Inter-Creditor Agreement.

              [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

            Executed by the undersigned as of the 30th day of November, 2004.

                                         JPMORGAN CHASE BANK, N.A., as trustee
                                         for the 2011 Notes

                                         By:         /s/ Rosa Ciaccia
                                              --------------------------------
                                              Name:  Rosa Ciaccia
                                              Title: Trust Officer