| Dated | 7      July   2009 |
|-------|-----------------------------------|

| (1) | Western      Power Distribution (South West) Plc as the  Company |
|-----|------------------------------------------------------------------|

| (2) | HSBC      Bank plc, Lloyds TSB Bank plc and Clydesdale Bank PLC as Mandated Lead      Arrangers |
|-----|-------------------------------------------------------------------------------------------------|

| (3) | HSBC      Bank plc as Facility Agent |
|-----|--------------------------------------|

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| Eversheds      LLPOne      Wood StreetLondonEC2V      7WS | TelFaxIntDX       | 0845      497 97970845      497 4919+44      20 7919 4500154280      Cheapside 8 |
|-----------------------------------------------------------|-------------------|----------------------------------------------------------------------------------|
|                                                      | www.eversheds.com |

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| Clause    | Page                                   |
|-----------|----------------------------------------|
|      |                                   |   |
| 1         | INTERPRETATION                         | 1 |
| 2         | THE      FACILITY                      | 17 |
| 3         | PURPOSE                                | 18 |
| 4         | CONDITIONS      PRECEDENT              | 18 |
| 5         | UTILISATION                            | 19 |
| 6         | OPTIONAL      CURRENCIES               | 20 |
| 7         | REPAYMENT                              | 22 |
| 8         | PREPAYMENT      AND CANCELLATION       | 23 |
| 9         | INTEREST                               | 26 |
| 11        | MARKET      DISRUPTION                 | 27 |
| 12        | TAXES                                  | 29 |
| 13        | INCREASED      COSTS                   | 32 |
| 14        | MITIGATION                             | 33 |
| 15        | PAYMENTS                               | 34 |
| 16        | REPRESENTATIONS                        | 37 |
| 17        | INFORMATION      COVENANTS             | 40 |
| 18        | FINANCIAL      COVENANTS               | 44 |
| 19        | GENERAL      COVENANTS                 | 47 |
| 20        | DEFAULT                                | 53 |
| 21        | THE      ADMINISTRATIVE PARTIES        | 56 |
| 22        | EVIDENCE      AND CALCULATIONS         | 63 |
| 23        | FEES                                   | 64 |
| 24        | INDEMNITIES      AND BREAK COSTS       | 65 |
| 25        | EXPENSES                               | 66 |
| 26        | AMENDMENTS      AND WAIVERS            | 67 |
| 27        | CHANGES      TO THE PARTIES            | 68 |
| 28        | DISCLOSURE      OF INFORMATION         | 71 |
| 29        | SET-OFF                                | 72 |
| 30        | PRO      RATA SHARING                  | 72 |
| 31        | SEVERABILITY                           | 74 |
| 32        | COUNTERPARTS                           | 74 |
| 33        | NOTICES                                | 74 |
| 34        | LANGUAGE                               | 76 |
| 35        | GOVERNING      LAW                     | 76 |
| 36        | ENFORCEMENT                            | 76 |
| Schedules |                                   |
| 1         | Original      Parties                  | 78 |
| 2         | Conditions      Precedent Documents    | 79 |
| 3         | Form      of Request                   | 80 |
| 4         | Calculation      of the mandatory cost | 81 |
| 6         | Intentionally      left blank          | 87 |
| 7         | Form      of Compliance Certificate    | 88 |

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| (1) | WESTERN POWER DISTRIBUTION      (SOUTH WEST) PLC (registered number 02366894) (the Company); |
|-----|---------------------------------------------------------------------------------------------------|

| (2) | HSBC BANK PLC, LLOYDS TSB BANK PLC and CLYDESDALE BANK PLC (each in this      capacity as a Mandated      LeadArranger      and together in this capacity, the Mandated LeadArrangers); |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | THE FINANCIAL INSTITUTIONS      listed in Schedule 1 (Original Parties) as original lenders (the      Original      Lenders); |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (4) | HSBC BANK PLC as      facility agent (in this capacity, the Facility      Agent). |
|-----|-----------------------------------------------------------------------------------|

| 1. | INTERPRETATION |
|----|----------------|

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

| “Acceptable      Bank”                          | means      a bank or financial institution which has a rating for its long-term      unsecured and non credit-enhanced debt obligations of 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 a comparable      rating from an internationally recognised credit rating      agency.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| “Act”                                           | means      the Electricity Act 1989 and, unless the context otherwise requires, all      subordinate legislation made pursuant thereto.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| “Administrative      Party”                     | means      a Mandated Lead Arranger or the Facility Agent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| “Affiliate”                                     | means      a Subsidiary or a Holding Company of a person or any other Subsidiary of      that Holding Company, and, in the case of Clydesdale Bank PLC only,      includes National Australia Bank Limited (ABN 12 004 044937).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| “Applicable      Accounting Principles”         | means      those accounting principles, standards and practices generally accepted in      the United Kingdom and the accounting and reporting requirements of the      Companies Act 2006, in each case as used in the Original Financial      Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| “Authority”                                     | means      The Gas and Electricity Markets Authority established under Section 1 of      the Utilities Act 2000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| “Availability      Period”                      | means      the period from and including the date of this Agreement to and including      the date falling one month prior to the Final Maturity Date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| “Balancing      and Settlement Code”            | means      the document, as modified from time to time, setting out the electricity      balancing and settlement arrangements designated by the Secretary of State      and adopted by The National Grid Company plc (Registered No. 2366977) or      its successor pursuant to its transmission licence.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| “Balancing      and Settlement Code Framework”  | means      the agreement of that title, in the form approved by the Secretary of      State, as amended from time to time, to which the Company is a party and      by which the Balancing and Settlement Code is made binding upon the      Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| “Break      Costs”                              | means      the amount (if any) which a Lender is entitled to receive under this      Agreement as compensation if any part of a Loan or overdue amount is      prepaid.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| “Business      Day”                             | means      a day (other than a Saturday or a Sunday) on which commercial banks are      open in London and: (a)   if      on that day a payment in or a purchase of a currency (other than euro) is      to be made, the principal financial centre of the country of that      currency; or (b)   if      on that day a payment in or purchase of euro is to be made, which is also      a TARGET Day.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| “Commitment”                                    | means: (a)   in      relation to an Original Lender, the Sterling amount set opposite its name      under the heading “Commitment” in Schedule 1 (The Original Parties) and      the amount of any other Commitment transferred to it under this Agreement;      and (b)   in      relation to any other Lender, the Sterling amount of any Commitment      transferred to it under this Agreement, to      the extent not cancelled, reduced or transferred by it under this      Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| “Compliance      Certificate”                   | means      a certificate substantially in the form of Schedule 7 (Form of Compliance      Certificate) setting out, among other things, calculations of the      financial covenants.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| “Debt      Purchase Transaction”                | means,      in relation to a person, a transaction where such person: (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, any      Commitment or amount outstanding under this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| “Default”                                       | means: (a)   an      Event of Default; or (b)   an      event which would be (with the lapse of time, the expiry of a grace      period, the giving of notice or the making of any determination under the      Finance Documents or any combination of them) an Event of      Default.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| “Environmental      Law”                        | means      all regulations and other laws concerning the protection of human health      or the environment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| euroor euros or      €                                | means      the single currency of the Participating Member States.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| “Event      of Default”                         | means      an event specified as such in this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| “Existing      Facility Agreement”              | means      the revolving facility agreement dated 18 October 2002 between, among      others, the Company as the borrower, Bayerische Landesbank acting through      its London Branch, BNP Paribas, Fortis Bank S.A./N.V., Lloyds TSB Bank plc      and WestLB AG, London Branch as the mandated lead arrangers and the Lloyds      TSB Bank plc as the Facility Agent (as amended and restated from time to      time).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Facility”                                      | means      the revolving loan facility made available under this Agreement as      described in Clause 2 (The Facility).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| “Facility      Office”                          | means      the office(s) notified by a Lender to the Facility Agent: (a)   on      or before the date it becomes a Lender; or (b)   by      not less than five Business Days' notice, as      the office(s) through which it will perform its obligations under this      Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| “Fee      Letter”                               | means      any letter entered into by reference to this Agreement between one or more      Administrative Parties and the Company setting out the amount of certain      fees referred to in the Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| “Final      Maturity Date”                      | means      the third anniversary of the date of this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| “Finance      Document”                         | means: (a)   this      Agreement; (b)   a      Fee Letter; (c)   a      Transfer Certificate; or (d)   any      other document designated as such by the Facility Agent and the      Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| “Finance      Party”                            | means      a Lender or an Administrative Party.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| “Financial      Indebtedness”                   | means      any indebtedness for or in respect of: (a)   moneys      borrowed; (b)   any      acceptance credit; (c)   any      bond, note, debenture, loan stock or other similarinstrument; (d)   any      redeemable preference share; (e)   any      finance or capital lease; (f)   receivables      sold or discounted (otherwise than on a non-recourse basis); (g)   the      acquisition cost of any asset to the extent payable after its acquisition      or possession by the party liable where the deferred payment is arranged      primarily as a method of raising finance or financing the acquisition of      that asset; (h)   any      derivative transaction protecting against or benefiting from fluctuations      in any rate or price (and, except for non-payment of an amount, the then      mark to market value of the derivative transaction will be used to      calculate its amount); (i)   any      other transaction (including any forward sale or purchase agreement) which      has the commercial effect of a borrowing; (j)   any      counter-indemnity obligation in respect of any guarantee, indemnity, bond,      letter of credit or any other instrument issued by a bank or financial      institution; or any      guarantee, indemnity or similar assurance against financial loss of any      person in respect of any item referred to in paragraphs (a) to (j)      above.                                                                                                                                                                                                                                                                                                           |
| “Group”                                         | means      the Company and its Subsidiaries.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| “Holding      Company”                          | means      in relation to a company or corporation, any other company or corporation      in respect of which it is a Subsidiary.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| “Increased      Cost”                           | means: (a)   an      additional or increased cost; (b)   a      reduction in the rate of return under a Finance Document or on its overall      capital; or (c)   a      reduction of an amount due and payable under any Finance      Document, which      is incurred or suffered by a Finance Party or any of its Affiliates but      only to the extent attributable to that Finance Party having entered into      any Finance Document or funding or performing its obligations under any      Finance Document.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| “Information      Package”                      | means      the information package in the form approved by the Company concerning the      Group which, at the Company’s request and on its behalf, was prepared in      relation to this transaction and distributed by the Mandated Lead      Arrangers to selected financial institutions before the date of this      Agreement and which includes, amongst other things, a document entitled      ‘Presentation to Banks May 2009’.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| “ITA”                                           | means      the Income Tax Act 2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Legal      Reservations                                     | means (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 Act 1980 and the Foreign      Limitation Periods Act 1984, 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 jurisdiction in      which a member of the Group or a Holding Company of the Company is      incorporated; and (d)   any      other matters which are set out as qualifications or reservations as to      matters of law of general application in any legal opinion provided under      Schedule 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Lender                                                      | means: (a)   an      Original Lender; or (b)   any      person which becomes a Lender after the date of this      Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “LIBOR”                                         | means      for a Term of any Loan or overdue amount: (a)   the      applicable Screen Rate; or (b)   if      no Screen Rate is available for the relevant currency or Term of that Loan      or overdue amount, the arithmetic mean (rounded upward to four decimal      places) of the rates, as supplied to the Facility Agent at its request,      quoted by the Reference Banks to leading banks in the London interbank      market, as      of 11.00 a.m. on the Rate Fixing Day for the offering of deposits in      the currency of that Loan or overdue amount for a period comparable to      that Term.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “Licence”                                       | means: (a)   the      electricity distribution licence made and treated as granted to the      Company under Section 6(1)(c) of the Act pursuant to a licensing scheme      made by the Secretary of State under Part II of Schedule 7 to the      Utilities Act 2000 on 28 September, 2001; or (b)   any      statutory amendment or replacement licence or licences granted pursuant to      the Utilities Act 2000 which permit the Company to distribute electricity      in the area it is certified to operate in.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| “Loan”                                          | means,      unless otherwise stated in this Agreement, the principal amount of each      borrowing under this Agreement or the principal amount outstanding of that      borrowing.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Majority      Lenders                                       | means,      at any time, Lenders: (a)   whose      share in the outstanding Loans and whose undrawn Commitments then      aggregate 662/3 per      cent. or more of the aggregate of all the outstanding Loans and the      undrawn Commitments of all the Lenders; (b)   if      there is no Loan then outstanding, whose undrawn Commitments then      aggregate 662/3 per      cent. or more of the Total Commitments; or (c)   if      there is no Loan then outstanding and the Total Commitments have been      reduced to zero, whose Commitments aggregated 662/3 per      cent. or more of the Total Commitments immediately before the      reduction.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| “Mandatory      Cost”                           | means      the cost of complying with certain regulatory requirements, expressed as a      percentage rate per annum and calculated by the Facility Agent under      Schedule 4 (Calculation of the Mandatory Cost).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Margin”                                        | means      2.50% per annum.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| “Material      Adverse Effect”                  | means      a material adverse effect on the ability of the Company to      perform: (a)   its      payment obligations under the Finance Documents; or (b)   its      obligations under clauses 18.3 (Interest Cover) or 18.4 (Asset Cover) of      this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| “Material      Subsidiary”                      | means,      at any time, a Subsidiary of the Company whose gross assets or gross      revenues (on an unconsolidated basis and excluding intra-Group items) then      equal or exceed 10 per cent. of the gross assets or gross revenues of      the Group. For      this purpose: (a)   the      gross assets or gross revenues of a Subsidiary of the Company will be      determined from its financial statements (unconsolidated if it has      Subsidiaries) upon which the latest audited financial statements of the      Group have been based; (b)   if      a Subsidiary of the Company becomes a member of the Group after the date      on which the latest audited financial statements of the Group have been      prepared, the gross assets or gross revenues of that Subsidiary will be      determined from its latest financial statements; (c)   the      gross assets or gross revenues of the Group will be determined from the      Company’s latest audited financial statements, adjusted (where      appropriate) to reflect the gross assets or gross revenues of any company      or business subsequently acquired or disposed of; and (d)   if      a Material Subsidiary disposes of all or substantially all of its assets      to another Subsidiary of the Company, it will immediately cease to be a      Material Subsidiary and the other Subsidiary (if it is not already) will      immediately become a Material Subsidiary; the subsequent financial      statements of those Subsidiaries and the Group will be used to determine      whether those Subsidiaries are Material Subsidiaries or not. If      there is a dispute as to whether or not a company is a Material      Subsidiary, a certificate of the auditors of the Company will be, in the      absence of manifest error, conclusive.  |
| “Maturity      Date”                            | means      the last day of the Term of a Loan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| “OFGEM”                                         | means      the Office of Gas and Electricity Markets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| “Original      Financial Statements”            | means      the audited consolidated financial statements of the Company for the year      ended 31 March, 2008.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| “Participating      Member State”               | means      a member state of the European Community that adopts or has adopted the      euro as its lawful currency under the legislation of the European      Community relating to Economic and Monetary Union.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| “Party”                                         | means      a party to this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| “Pro      Rata Share”                           | means: (a)   for      the purpose of determining a Lender's share in a utilisation of the      Facility, the proportion which its Commitment under the Facility bears to      all the Commitments under the Facility; and (b)    for      any other purpose on a particular date: (i)   the      proportion which a Lender's share of the Loans (if any) bears to all the      Loans; (ii)   if      there is no Loan outstanding on that date, the proportion which its      Commitment bears to the Total Commitments on that date; or (iii)  if      the Total Commitments have been cancelled, the proportion which its      Commitments bore to the Total Commitments immediately before being      cancelled.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| “PUHCA”                                         | means      the Public Utility Holding Company Act of 2005, as amended, of the United      States of America.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

| “Rate      Fixing Day”  | means: (a)    the      first day of a Term for a Loan denominated in Sterling; or (b)   the second Business Day      before the first day of a Term for a Loan denominated in any other      currency; or      such other day as the Facility Agent determines is generally treated as      the rate fixing day by market practice in the relevant interbank      market.  |
|------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| “Reference      Banks”                    | means      the Facility Agent, Lloyds TSB Bank plc and Clydesdale Bank PLC and any      other bank or financial institution appointed as such by the Facility      Agent under this Agreement.                                                                                                                                                                                                                                             |
|------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| “Repeating      Representations”          | means      the representations which are deemed to be repeated under this      Agreement.                                                                                                                                                                                                                                                                                                                                                  |
| “Request”                                 | means      a request for a Loan, substantially in the form of Schedule 3 (Form      of Request).                                                                                                                                                                                                                                                                                                                                      |
| “Rollover      Loan”                      | means      one or more Loans: (a)   to      be made on the same day that a maturing Loan is due to be      repaid; (b)   the      aggregate amount of which is equal to or less than the maturing      Loan; (c)   in      the same currency as the maturing Loan; and (d)   to      be made for the purpose of refinancing a maturing Loan.               |
| “Screen      Rate”                        | means      the British Bankers’ Association Interest Settlement Rate (if any) for the      relevant currency and Term displayed on the appropriate page of the      Reuters screen.  If the relevant page is replaced or the service      ceases to be available, the Facility Agent (after consultation with the      Company and the Lenders) may specify another page or service displaying      the appropriate rate.  |
| “Secretary      of State”                 | means      the Secretary of State for Trade and Industry.                                                                                                                                                                                                                                                                                                                                                                                  |
| “Security      Interest”                  | means      any mortgage, pledge, lien, charge, assignment, hypothecation or security      interest or any other agreement or arrangement having a similar      effect.                                                                                                                                                                                                                                                                     |
| “Sterling”      and “£”  | mean      the lawful currency of the United Kingdom.                                                                                                                                                                                                                                                                                                                                                                                       |
| “Subsidiary”                              |  (a)   a      subsidiary within the meaning of section 1159 of the Companies Act 2006;      and (b)   unless      the context otherwise requires, a subsidiary undertaking within the mean      of section 1162 of the Companies Act 2006.                                                                                                                                                         |
| “TARGET2”                                 | means      the Trans-European Automated Real-time Gross Settlement Express Transfer      payment system which utilises a single platform and which was launch on 19      November 2007.                                                                                                                                                                                                                                                    |
| “TARGET      Day”                         | means      any day on which TARGET2 is open for the settlement of payments in      euro.                                                                                                                                                                                                                                                                                                                                                   |
| “Tax”                                     | means      any tax, levy, impost, duty or other charge or withholding of a similar      nature (including any penalty, addition to tax or any interest payable in      connection with any failure to pay or any delay in paying any of the      same.)                                                                                                                                                                                    |
| “Tax      Deduction”                      | means      a deduction or withholding for or on account of Tax from a payment under a      Finance Document.                                                                                                                                                                                                                                                                                                                               |
| “Tax      Payment”                        | means      a payment made by the Company to a Finance Party in any way relating to a      Tax Deduction or under any indemnity given by the Company in respect of      Tax under any Finance Document.                                                                                                                                                                                                                                     |
| “Taxes      Act”                          | means      the Income and Corporation Taxes Act 1988.                                                                                                                                                                                                                                                                                                                                                                                      |
| “Term”                                    | means      each period determined under this Agreement by reference to which interest      on a Loan or an overdue amount is calculated.                                                                                                                                                                                                                                                                                                   |
| “Total      Commitments”                  | means      the aggregate of the Commitments, being £210,000,000 at the date of this      Agreement.                                                                                                                                                                                                                                                                                                                                   |
| “Transfer      Certificate”               | means      a certificate, substantially in the form of Schedule 5 (Form of      Transfer Certificate), with such amendments as the Facility Agent may      approve or reasonably require or any other form agreed between the      Facility Agent and the Company.                                                                                                                                                                    |
| “U.K.”                                    | means      the United Kingdom.                                                                                                                                                                                                                                                                                                                                                                                                             |
| “U.S. Dollars and U.S.$”                  | means      the lawful currency for the time being of the United States of      America.                                                                                                                                                                                                                                                                                                                                                    |
| “Unpaid      Sum”                         | means      any sum due and payable but unpaid by the Company under the Finance      Documents.                                                                                                                                                                                                                                                                                                                                             |
| “Utilisation      Date”                   | means      each date on which the Facility is utilised.                                                                                                                                                                                                                                                                                                                                                                                    |

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

|   | 1.2.1 | The      following definitions have the meanings given to them in clause 18.1      (Financial covenants): |
|--------|-------|-----------------------------------------------------------------------------------------------------------|

|   | 1.2.1.1 | Consolidated      EBITDA; |
|--------|---------|---------------------------|

|   | 1.2.1.2 | Interest      Payable; |
|--------|---------|------------------------|

|   | 1.2.1.3 | Measurement      Period; |
|--------|---------|--------------------------|

|   | 1.2.1.4 | Regulatory      Asset Base; and |
|--------|---------|---------------------------------|

|   | 1.2.1.5 | Total      Net Debt. |
|--------|---------|----------------------|

|   | 1.2.2 | In      this Agreement, unless the contrary intention appears, a reference      to: |
|--------|-------|-------------------------------------------------------------------------------------|

|   | 1.2.2.1 | an      amendment includes      a supplement, novation, restatement or re-enactment and amended will be      construed accordingly; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.2 | assets includes present      and future properties, revenues and rights of every      description; |
|--------|---------|----------------------------------------------------------------------------------------------------|

|   | 1.2.2.3 | an      authorisation      includes an authorisation, consent, approval, resolution, licence,      exemption, filing, registration ornotarisation; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.4 | disposal means a sale,      transfer, grant, lease or other disposal, whether voluntary or      involuntary, and dispose will be construed  accordingly; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.5 | indebtedness includes      any obligation (whether incurred as principal or as surety) for the      payment or repayment of money; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.6 | know your customer      requirements are the identification checks that a Finance Party      requests in order to meet its obligations under any applicable law or      regulation to identify a person who is (or is to become) its      customer; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.7 | a      person includes      any individual, company, corporation, unincorporated association or body      (including a partnership, trust, joint venture or consortium), government,      state, agency, organisation or other entity whether or not having separate      legal personality; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.8 | a regulation includes any      regulation, rule, official directive, request or guideline (whether or not      having the force of law but, if not having the force of law, being of a      type with which any person to which it applies is accustomed to comply) of      any governmental, inter-governmental or supranational body, agency,      department or regulatory, self-regulatory or other authority or      organisation; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.9 | the      winding-up of a      person includes the administration, dissolution or liquidation or other      like process of that person, any composition or arrangement with the      creditors, amalgamation, reconstruction, reorganisation or consolidation      pursuant to Part XXVI of the Companies Act 2006 proposed or carried out in      respect of that person or a company voluntary arrangement pursuant to the      Insolvency Act 1986 carried out or proposed in respect of that      person; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.10 | a      currency is a reference to the lawful currency for the time being of the      relevant country; |
|--------|----------|--------------------------------------------------------------------------------------------------------|

|   | 1.2.2.11 | a      Default (other than an Event of Default) being outstanding means that      it has not been remedied or waived and an Event of Default being outstanding means that      it has not been waived; |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.12 | a      provision of law is a reference to that provision as extended, applied,      amended or re-enacted and includes any subordinate      legislation; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.13 | a      Clause, a Subclause or a Schedule is a reference to a clause or subclause      of, or a schedule to, thisAgreement; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.14 | a      person includes its successors in title, permitted assigns and permitted      transferees; |
|--------|----------|---------------------------------------------------------------------------------------------------|

|   | 1.2.2.15 | a      Finance Document or another document is a reference to that Finance      Document or other document as amended;and |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.2.16 | a      time of day is a reference to Londontime. |
|--------|----------|--------------------------------------------------|

|   | 1.2.3 | Unless      the contrary intention appears, a reference to a month or months is a reference to      a period starting on one day in a calendar month and ending on the      numerically corresponding day in the next calendar month or the calendar      month in which it is to end, exceptthat: |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.3.1 | if      the numerically corresponding day is not a Business Day, the period will      end on the next Business Day in that month (if there is one) or the      preceding Business Day (if there isnot); |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.3.2 | if      there is no numerically corresponding day in that month, that period will      end on the last Business Day in that month;and |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.3.3 | notwithstanding      clause 1.2.3.1 above, a period which commences on the last Business Day of      a month will end on the last Business Day in the next month or the      calendar month in which it is to end, as  appropriate. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.4 | Unless      expressly provided to the contrary in a Finance Document, a person who is      not a party to a Finance Document may not enforce any of its terms under      the Contracts (Rights of Third Parties) Act 1999 and notwithstanding any      term of any Finance Document, the consent of any third party is not      required for any variation (including any release or compromise of any      liability) or termination of that Finance  Document. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.5 | Unless      the contrary intention appears: |
|--------|-------|---------------------------------------------|

|   | 1.2.5.1 | a      reference to a Party will not include that Party if it has ceased to be a      Party under this Agreement; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------|

|   | 1.2.5.2 | a      word or expression used in any other Finance Document or in any notice      given in connection with any Finance Document has the same meaning in that      Finance Document or notice as in this Agreement;  and |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.5.3 | any      obligation of the Company under the Finance Documents which is not a      payment obligation remains in force for so long as any payment obligation      of the Company is or may be outstanding under the Finance      Documents. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2.6 | The      headings in this Agreement do not affect its    interpretation. |
|--------|-------|--------------------------------------------------------------------------|

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

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

| 2.2 | Nature of a Finance Party's      rights and obligations |
|-----|---------------------------------------------------------|

|   | 2.2.1 | the      obligations of a Finance Party under the Finance Documents are      several; |
|--------|-------|---------------------------------------------------------------------------------------|

|   | 2.2.2 | failure      by a Finance Party to perform its obligations does not affect the      obligations of any other Party under the Finance  Documents; |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2.2.3 | no      Finance Party is responsible for the obligations of any other Finance      Party under the Finance Documents; |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------|

|   | 2.2.4 | the      rights of a Finance Party under the Finance Documents are separate and      independent rights; |
|--------|-------|----------------------------------------------------------------------------------------------------------|

|   | 2.2.5 | a      debt arising under the Finance Documents to a Finance Party is a separate      and independent debt; and |
|--------|-------|-----------------------------------------------------------------------------------------------------------------|

|   | 2.2.6 | a      Finance Party may, except as otherwise stated in the Finance Documents,      separately enforce those rights. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------|

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

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

|   | 3.1.1 | the      core working capital requirements of the Company (including the repayment      of all loans made under the Existing Facility Agreement);    and |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.1.2 | general      corporate purposes, |
|--------|-------|----------------------------------|

| 3.2 | No obligation to      monitor |
|-----|-------------------------------|

| 4. | CONDITIONS      PRECEDENT |
|----|---------------------------|

| 4.1 | Conditions precedent      documents |
|-----|-------------------------------------|

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

|   | 4.2.1 | the      Repeating Representations are correct in all material respects;      and |
|--------|-------|-----------------------------------------------------------------------------------|

|   | 4.2.2 | no      Default or, in the case of a Rollover Loan, no Event of Default is      outstanding or would result from theLoan. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------|

| 4.3 | Maximum      number |
|-----|---------------------|

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

| 5.1 | Giving of      Requests |
|-----|-------------------------|

|   | 5.1.1 | The      Company may borrow a Loan by giving to the Facility Agent a duly completed      Request. |
|--------|-------|---------------------------------------------------------------------------------------------------|

|   | 5.1.2 | Unless      the Facility Agent otherwise agrees, the latest time for receipt by the      Facility Agent of a duly completed Request is 11.00 a.m. one Business      Day before the Rate Fixing Day for the proposed  borrowing. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5.1.3 | Each      Request is irrevocable. |
|--------|-------|-----------------------------------|

| 5.2 | Completion of      Requests |
|-----|-----------------------------|

|   | 5.2.1 | the      Utilisation Date is a Business Day falling within the Availability      Period; |
|--------|-------|------------------------------------------------------------------------------------------|

|   | 5.2.2 | The      amount of the Loan requested is: |
|--------|-------|-------------------------------------------|

|   | 5.2.2.1 | a      minimum of £5,000,000 or its equivalent in accordance with Clause 6.5      (Optional Currency Equivalents),  and an integral multiple of      1,000,000 units of that currency; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5.2.2.2 | the      maximum undrawn amount available under this Agreement for Loans under the      Facility on the proposed Utilisation Date;or |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------|

|   | 5.2.2.3 | such      other amount as the Facility Agent may agree;  and |
|--------|---------|--------------------------------------------------------------|

|   | 5.2.3 | the      proposed Term complies with thisAgreement. |
|--------|-------|-----------------------------------------------------|

| 5.3 | Advance of      Loan |
|-----|----------------------|

|   | 5.3.1 | The      Facility Agent must promptly notify each Lender of the details of the      requested Loan and the amount of its share in that  Loan. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5.3.2 | The      amount of each Lender's share of the Loan will be its Pro Rata Share on      the proposed Utilisation Date. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------|

|   | 5.3.3 | No      Lender is obliged to participate in a Loan if as a  result: |
|--------|-------|---------------------------------------------------------------------|

|   | 5.3.3.1 | its      share in the Loans would exceed its Commitment;  or |
|--------|---------|--------------------------------------------------------------|

|   | 5.3.3.2 | the      Loans would exceed the TotalCommitments. |
|--------|---------|---------------------------------------------------|

|   | 5.3.4 | If      the conditions set out in this Agreement have been met, each Lender must      make its share in the Loan available to the Facility Agent for the Company      on the Utilisation Date. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | OPTIONAL      CURRENCIES |
|----|--------------------------|

| 6.1 | General |
|-----|---------|

|   | 6.1.1 | if      the Loan is denominated in Sterling, its amount;  or |
|--------|-------|--------------------------------------------------------------|

|   | 6.1.2 | in      the case of any Loan denominated in an Optional Currency, its equivalent      in Sterling calculated on the basis of  the Agent's Spot Rate of      Exchange one Business Day before the Rate Fixing Day for that      Term. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2 | Selection |
|-----|-----------|

|   | 6.2.1 | The      Company must select the currency of a Loan in its Request. The Company may      select Sterling or an Optional Currency for a  Loan. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.2.2 | Unless      the Facility Agent otherwise agrees, the Loans may not be denominated at      any one time in more than threecurrencies. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------|

| 6.3 | Selection of Optional      Currencies |
|-----|---------------------------------------|

|   | 6.3.1 | A      Loan may be denominated in an Optional Currency for a Term    if: |
|--------|-------|--------------------------------------------------------------------------|

|   | 6.3.1.1 | that      Optional Currency is readily available in the amount required and freely      convertible into Sterling in the relevant interbank market on the Rate      Fixing Day and the first day of that Term;and |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.3.1.2 | that      Optional Currency is a Pre-approved Currency or has been previously      approved by the Facility Agent (acting on the instruction of all the      Lenders) on or prior to receipt by the Facility Agent of the relevant      Request for that Loan. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.3.2 | If      the Facility Agent has received a request from the Company for a currency      to be approved as an Optional Currency (other than a Pre-approved      Currency), the Facility Agent must, within five Business Days, confirm to      the Company: |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.3.2.1 | whether      or not the Lenders have given their approval;  and |
|--------|---------|-----------------------------------------------------------------|

|   | 6.3.2.2 | if      approval has been given, the minimum amount (and, if required, integral      multiples) for any Loan in thatcurrency. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------|

| 6.4 | Revocation of      currency |
|-----|-----------------------------|

|   | 6.4.1 | Notwithstanding      any other term of this Agreement, if before 12 noon on any Rate Fixing Day      the Facility Agent receives notice from a Lender  that: |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.4.1.1 | the      Optional Currency requested is not readily available to it in the relevant      interbank market in the amount and for the period required;    or |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.4.1.2 | participating      in a Loan in the proposed Optional Currency might contravene any law or      regulation applicable to it, |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------|

|   | 6.4.2 | In      this event: |
|--------|-------|---------------------|

|   | 6.4.2.1 | that      Lender must participate in the Loan in Sterling;  and |
|--------|---------|-----------------------------------------------------------------|

|   | 6.4.2.2 | the      share of that Lender in the Loan and any other similarly affected      Lender(s) will be treated as a separate Loan denominated in Sterling      during that Term. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.4.3 | Any      part of a Loan treated as a separate Loan under this Subclause will not be      taken into account for the purposes of any limit on the number of Loans or      currencies outstanding at any onetime. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.4.4 | A      Loan will still be treated as a Rollover Loan if it is not denominated in      the same currency as the maturing Loan by reason only of the operation of      this Subclause. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.5 | Optional Currency      equivalents |
|-----|------------------------------------|

|   | 6.5.1 | whether      any limit under this Agreement has been  exceeded; |
|--------|-------|-----------------------------------------------------------------|

|   | 6.5.2 | the      amount of a Loan; |
|--------|-------|----------------------------|

|   | 6.5.3 | the      share of a Lender in a Loan; |
|--------|-------|---------------------------------------|

|   | 6.5.4 | the      amount of any repayment of a Loan;or |
|--------|-------|-----------------------------------------------|

|   | 6.5.5 | the      undrawn amount of a Lender'sCommitment, |
|--------|-------|--------------------------------------------------|

| 6.6 | Notification |
|-----|--------------|

| 7. | REPAYMENT |
|----|-----------|

| 7.1 | Repayment of      Loans |
|-----|-------------------------|

|   | 7.1.1 | The      Company must repay each Loan in full on its Maturity Date.  No      Loan may be outstanding after the applicable Final Maturity      Date. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.1.2 | Subject      to the other terms of this Agreement, any amounts repaid under clause      7.1.1 above may be re-borrowed. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------|

| 8. | PREPAYMENT AND      CANCELLATION |
|----|----------------------------------|

| 8.1 | Mandatory prepayment -      illegality |
|-----|----------------------------------------|

|   | 8.1.1 | A      Lender must notify the Company promptly if it becomes aware that it is      unlawful in any jurisdiction for that Lender to perform any of its      obligations under a Finance Document or to fund or maintain its share in      any Loan. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.1.2 | After      notification under clause 8.1.1above: |
|--------|-------|--------------------------------------------------|

|   | 8.1.2.1 | the      Company must repay or prepay the share of that Lender in each Loan made to      it on the date specified in clause 8.1.3 below;  and |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.1.2.2 | the      Commitments of that Lender will be immediately  cancelled. |
|--------|---------|---------------------------------------------------------------------|

|   | 8.1.3 | The      date for repayment or prepayment of a Lender's share in a Loan will      be: |
|--------|-------|---------------------------------------------------------------------------------------|

|   | 8.1.3.1 | the      Business Day following receipt by the Company of notice from the Lender      under clause 8.1.1 above; or |
|--------|---------|--------------------------------------------------------------------------------------------------------------------|

|   | 8.1.3.2 | if      later, the latest date allowed by the relevant  law. |
|--------|---------|--------------------------------------------------------------|

| 8.2 | Mandatory prepayment - change      of control |
|-----|-----------------------------------------------|

|   | 8.2.1 | within      5 days of such date, the Company shall give notice of such change of      control to the Facility Agent; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------|

|   | 8.2.2 | the      Lenders and the Company shall immediately enter into negotiations for a      period of not more than 45 days from the date of the change of      control with a view to agreeing whether the Facility shall continue to be      made available and on what terms; |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.2.3 | if      no such agreement is reached within the said period of 45 days      then: |
|--------|-------|----------------------------------------------------------------------------------------|

|   | 8.2.3.1 | any      Lender may on 10 days' notice to the Facility Agent and to the Company      require the repayment of its share in each Loan and cancel its Commitment;      and |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.2.3.2 | the      Majority Lenders may on 10 days' notice to the Company require repayment      in full of all outstanding Loans and cancel the Total Commitments;      and |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.2.4 | A      Lender shall not be obliged to fund any further utilisations of the      Facility (except for a Rollover Loan) during the negotiation period set      out in clause 8.2.2, and if no agreement is reached within such      negotiation period, during the 10 day notice period set out in clause      8.2.3. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | Voluntary      prepayment |
|-----|---------------------------|

|   | 8.3.1 | The      Company may, by giving not less than three Business Days' prior written      notice to the Facility Agent, prepay any Loan at any time in whole or in      part. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.3.2 | A      prepayment of part of a Loan drawn in US Dollars must be in a minimum      amount of $5,000,000 and an integral multiple of U.S.      $1,000,000. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.3.3 | A      prepayment of part of a Loan drawn in Sterling must be in a minimum amount      of £5,000,000 and an integral multiple of  £1,000,000. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.3.4 | A      prepayment of part of a Loan drawn in euros must be in a minimum amount of      €5,000,000 and an integral multiple of  €1,000,000. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.4 | Automatic      cancellation |
|-----|-----------------------------|

| 8.5 | Voluntary      cancellation |
|-----|-----------------------------|

|   | 8.5.1 | The      Company may, by giving not less than three Business Days' prior written      notice to the Facility Agent, cancel the unutilised amount of the Total      Commitments in whole or in part. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.5.2 | Partial      cancellation of the Total Commitments must be in a minimum amount of      £5,000,000 and an integral multiple of  £1,000,000. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.5.3 | Any      cancellation in part will be applied against the Commitment of each Lender      pro rata. |
|--------|-------|----------------------------------------------------------------------------------------------------|

| 8.6 | Involuntary prepayment and      cancellation |
|-----|----------------------------------------------|

|   | 8.6.1 | If      the Company is, or will be, required to pay to a Lender a Tax Payment or      an Increased Cost, the Company may, while the requirement continues, give      notice to the Facility Agent requesting prepayment and cancellation in      respect of that Lender. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.6.2 | After      notification under clause 8.6.1above: |
|--------|-------|--------------------------------------------------|

|   | 8.6.2.1 | the      Company must repay or prepay that Lender's share in each Loan made to it      on the date specified in clause 8.6.3 below;and |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.6.2.2 | the      Commitments of that Lender will be immediately  cancelled. |
|--------|---------|---------------------------------------------------------------------|

|   | 8.6.3 | The      date for repayment or prepayment of a Lender's share in a Loan will be the      last day of the current Term for that Loan or, if earlier, the date      specified by the Company in itsnotification. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.7 | Re-borrowing of      Loans |
|-----|----------------------------|

| 8.8 | Miscellaneous      provisions |
|-----|-------------------------------|

|   | 8.8.1 | Any      notice of prepayment and/or cancellation under this Agreement is      irrevocable and must specify the relevant date(s) and the affected Loans      and Commitments.  The Facility Agent must notify the Lenders      promptly of receipt of any suchnotice. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.8.2 | All      prepayments under this Agreement must be made with accrued interest on the      amount prepaid.  No premium or penalty is payable in respect of      any prepayment except for BreakCosts. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.8.3 | The      Majority Lenders may agree a shorter notice period for a voluntary      prepayment or a voluntarycancellation. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------|

|   | 8.8.4 | No      prepayment or cancellation is allowed except in accordance with the      express terms of this Agreement. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------|

|   | 8.8.5 | No      amount of the Total Commitments cancelled under this Agreement may      subsequently be reinstated. |
|--------|-------|-------------------------------------------------------------------------------------------------------------|

| 9. | INTEREST |
|----|----------|

| 9.1 | Calculation of      interest |
|-----|------------------------------|

|   | 9.1.1 | Margin; |
|--------|-------|---------|

|   | 9.1.2 | LIBOR;      and |
|--------|-------|-----------------|

|   | 9.1.3 | Mandatory      Cost. |
|--------|-------|----------------------|

| 9.2 | Payment of      interest |
|-----|--------------------------|

| 9.3 | Interest on overdue      amounts |
|-----|----------------------------------|

|   | 9.3.1 | If      the Company fails to pay any amount payable by it under the Finance      Documents, it must immediately on demand by the Facility Agent pay      interest on the overdue amount from its due date up to the date of actual      payment, both before, on and afterjudgment. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 9.3.2 | Interest      on an overdue amount is payable at a rate determined by the Facility Agent      to be one per cent. per annum above 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 this purpose,      the Facility Agent may (actingreasonably): |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 9.3.2.1 | select      successive Terms of any duration of up to three months;  and |
|--------|---------|--------------------------------------------------------------------------|

|   | 9.3.2.2 | determine      the appropriate Rate Fixing Day for thatTerm. |
|--------|---------|--------------------------------------------------------------|

|   | 9.3.3 | Notwithstanding      clause 9.3.2 above, if the overdue amount is a principal amount of a Loan      and becomes due and payable prior to the last day of its current Term,      then: |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 9.3.3.1 | the      first Term for that overdue amount will be the unexpired portion of that      Term; and |
|--------|---------|--------------------------------------------------------------------------------------------------|

|   | 9.3.3.2 | the      rate of interest on the overdue amount for that first Term will be one per      cent. per annum above the rate then payable on that  Loan. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 9.3.4 | Interest      (if unpaid) on an overdue amount will be compounded with that overdue      amount at the end of each of its Terms but will remain immediately due and      payable. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.4 | Notification of rates of      interest |
|-----|----------------------------------------|

| 10. | TERMS |
|-----|-------|

| 10.1 | Selection |
|------|-----------|

|   | 10.1.1 | Each      Loan has one Term only. |
|--------|--------|-----------------------------------|

|   | 10.1.2 | The      Company must select the Term for a Loan in the relevant      Request. |
|--------|--------|--------------------------------------------------------------------------------|

|   | 10.1.3 | Subject      to the following provisions of this Clause, each Term for a Loan will be      one, two, three or six months or for a period of one to thirty days      duration as selected by the Company or any other period agreed by the      Company and the Lenders. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.1.4 | A      Term for a Loan shall start on the Utilisation Date for that      Loan. |
|--------|--------|--------------------------------------------------------------------------------|

| 10.2 | No overrunning the Final      Maturity Date |
|------|---------------------------------------------|

| 10.3 | Other      adjustments |
|------|------------------------|

| 10.4 | Notification |
|------|--------------|

| 11. | MARKET      DISRUPTION |
|-----|------------------------|

| 11.1 | Failure of a Reference Bank to      supply a rate |
|------|---------------------------------------------------|

| 11.2 | Market      disruption |
|------|------------------------|

|   | 11.2.1 | In      this Clause, each of the following events is a market disruption      event: |
|--------|--------|--------------------------------------------------------------------------------------|

|   | 11.2.1.1 | LIBOR      is to be calculated by reference to the Reference Banks but no, or only      one, Reference Bank supplies a rate by 12.00 noon on the Rate Fixing Day;      or |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2.1.2 | the      Facility Agent receives by close of business on the Rate Fixing Day      notification from Lenders whose shares in the relevant Loan exceed 50 per      cent. of that Loan that such Lenders are unable to obtain matching      deposits in the relevant interbank market or the rate at which they can do      so is in excess of LIBOR for the relevantTerm. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2.2 | The      Facility Agent must promptly notify the Company and the Lenders of a      market disruption event. |
|--------|--------|-------------------------------------------------------------------------------------------------------------|

|   | 11.2.3 | After      notification under clause 11.2.2 above, the rate of interest on each      Lender's share in the affected Loan for the relevant Term will be the      aggregate of the applicable: |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2.3.1 | Margin; |
|--------|----------|---------|

|   | 11.2.3.2 | rate      notified to the Facility Agent by that Lender as soon as practicable, and      in any event before interest is due to be paid in respect of that Term, to      be that which expresses as a percentage rate per annum the cost to that      Lender of funding its share in that Loan from whatever source it may      reasonably select; and |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2.3.3 | Mandatory      Cost. |
|--------|----------|----------------------|

| 11.3 | Alternative basis of interest      or funding |
|------|-----------------------------------------------|

|   | 11.3.1 | If      a market disruption event occurs and the Facility Agent or the Company so      requires, the Company and the Facility Agent must enter into negotiations      for a period of not more than 30 days with a view to agreeing an      alternative basis for determining the rate of interest and/or funding for      the affected Loan and any futureLoan. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.3.2 | Any      alternative basis agreed will be, with the prior consent of all the      Lenders, binding on all theParties. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------|

| 12. | TAXES |
|-----|-------|

| 12.1 | General |
|------|---------|

| 12.2 | Tax    gross-up |
|------|-----------------|

|   | 12.2.1 | The      Company must make all payments to be made by it under the Finance      Documents without any Tax Deduction, unless a Tax Deduction is required by      law. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.2 | If: |
|--------|--------|-----|

|   | 12.2.2.1 | a      Lender is not, or ceases to be, a U.K. Lender;  or |
|--------|----------|-----------------------------------------------------------|

|   | 12.2.2.2 | the      Company or a Lender is aware that the Company must make a Tax Deduction      (or that there is a change in the rate or the basis of a Tax      Deduction), |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.3 | Except      as provided below, if a Tax Deduction is required by law to be made by the      Company or the Facility Agent, the amount of the payment due from the      Company will be increased to an amount which (after making the Tax      Deduction) leaves an amount equal to the payment which would have been due      if no Tax Deduction had beenrequired. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.4 | Except      as provided below, the Company is not required to make an increased      payment under clause 12.2.3 above to a Lender that is not, or has ceased      to be, a U.K. Lender in excess of the amount that the Company would have      had to pay had the Lender been, or not ceased to be, a U.K.      Lender. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.5 | Clause      12.2.4 above will not apply if the Lender has ceased to be a U.K. Lender      by reason of any change after the date it became a Lender under this      Agreement in (or in the interpretation, administration, or application of)      any law or double taxation agreement or any published practice or      concession of any relevant taxingauthority. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.6 | Where      a Lender fails to give notice under clause 12.2.2 above within 60 days      after it obtains knowledge (or, after reasonable due enquiry, ought to      have obtained knowledge) of such event, then such Lender shall, with      respect to any claim made by it under this Clause 12.2 (Tax gross-up),      only be entitled to claim an increased payment for the period from and      after the date that is 60 days prior to the date on which the Lender does      give notice. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.7 | If      the Company is required to make a Tax Deduction, it must make the minimum      Tax Deduction and must make any payment required in connection with that      Tax Deduction within the time allowed bylaw. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2.8 | Within      30 days of making either a Tax Deduction or a payment required in      connection with a Tax Deduction, the Company must deliver to the Facility      Agent for the relevant Finance Party entitled to the payment a statement      under section 975 of the ITA or other evidence satisfactory to that      Finance Party (acting reasonably) that the Tax Deduction has been made or      (as applicable) the appropriate payment has been paid to the relevant      taxing authority. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.3 | Tax      indemnity |
|------|--------------------|

|   | 12.3.1 | Except      as provided below, the Company must indemnify a Finance Party against any      loss or liability which that Finance Party (in its absolute discretion)      determines will be or has been suffered (directly or indirectly) by that      Finance Party for or on account of Tax in relation to a payment received      or receivable (or any payment deemed to be received or receivable) under a      Finance Document. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.3.2 | Clause      12.3.1 above does not apply to any Tax assessed on a Finance Party under      the laws of the jurisdiction inwhich: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|

|   | 12.3.2.1 | 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 |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.3.2.2 | that      Finance Party's Facility Office is located in respect of amounts received      or receivable in that jurisdiction, |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------|

|   | 12.3.3 | A      Finance Party making, or intending to make, a claim under clause 12.3.1      above must promptly notify the Company of the event which will give, or      has given, rise to the claim. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.4 | Tax    Credit |
|------|---------------|

| 12.5 | Tax Warranty of      Lenders |
|------|------------------------------|

| 12.6 | Stamp    taxes |
|------|----------------|

| 12.7 | Value added      taxes |
|------|------------------------|

|   | 12.7.1 | All      costs and expenses payable under a Finance Document by the Company is      exclusive of any value added tax or any other Tax of a similar nature      which might be chargeable in connection with that amount.  If      any such Tax is chargeable, the Company must pay to the Finance Party (in      addition to and at the same time as paying that amount) an amount equal to      the amount of that Tax. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.7.2 | The      obligation of the Company under clause 12.7.1 above will be reduced to the      extent that the Finance Party determines (acting reasonably) that it is      entitled to repayment or a credit in respect of the relevant      Tax. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13. | INCREASED      COSTS |
|-----|----------------------|

| 13.1 | Increased      Costs |
|------|----------------------|

|   | 13.1.1 | the      introduction of, or any change in, or any change in the interpretation or      application of, any law or regulation;or |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------|

|   | 13.1.2 | compliance      with any law or regulation, |
|--------|--------|---------------------------------------------|

| 13.2 | Exceptions |
|------|------------|

|   | 13.2.1 | compensated      for under another Clause or would have been but for an exception to that      Clause; |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | 13.2.2 | a      Tax on the overall net income of a Finance Party or any of its      Affiliates; |
|--------|--------|----------------------------------------------------------------------------------------|

|   | 13.2.3 | attributable      to a Finance Party or its Affiliate wilfully failing to comply with any      law or regulation; or |
|--------|--------|----------------------------------------------------------------------------------------------------------------------|

|   | 13.2.4 | incurred      in any period or periods ending prior to the date falling 60 days before      the date any demand in relation to that Increased Cost is made (save where      the relevant Finance Party (after due enquiry) was unaware of the      existence of such Increased Cost or where such Increased Cost is caused by      reason of a change in (or in the interpretation, administration or      application of) law with retrospectiveeffect). |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13.3 | Claims |
|------|--------|

| 14. | MITIGATION |
|-----|------------|

| 14.1 | Mitigation |
|------|------------|

|   | 14.1.1 | Each      Finance Party must, in consultation with the Company (other than upon the      occurrence of an event referred to at Clause 14.1.1.4 where no such      consultation is required), take all reasonable steps to mitigate any      circumstances which arise and which result or would result    in: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.1.1.1 | any      Tax Payment or Increased Cost being payable to that Finance      Party; |
|--------|----------|----------------------------------------------------------------------------------|

|   | 14.1.1.2 | that      Finance Party being able to exercise any right of prepayment and/or      cancellation under this Agreement by reason of any    illegality; |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.1.1.3 | that      Finance Party incurring any cost of complying with the minimum reserve      requirements of the European Central Bank;or |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.1.1.4 | the      occurrence of any market disruptionevent, |
|--------|----------|----------------------------------------------------|

|   | 14.1.2 | A      Finance Party is not obliged to take any step under this Subclause if, in      the opinion of that Finance Party (acting reasonably), to do so might be      prejudicial to it. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.1.3 | Each      Finance Party must promptly notify the Company of any circumstances as      described in Clauses 14.1.1.1 to14.1.1.4. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|

|   | 14.1.4 | The      Company must indemnify each Finance Party for all costs and expenses      reasonably incurred by it as a result of any step taken under this Clause      14.1 (Mitigation). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.1.5 | This      clause does not in any way limit the obligations of the Company under the      Finance Documents. |
|--------|--------|-------------------------------------------------------------------------------------------------------------|

| 14.2 | Substitution |
|------|--------------|

|   | 14.2.1 | any      Tax Payment or Increased Cost being payable to that Finance      Party; |
|--------|--------|----------------------------------------------------------------------------------|

|   | 14.2.2 | that      Finance Party being able to exercise any right of prepayment and/or      cancellation under this Agreement by reason of any    illegality; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.2.3 | that      Finance Party incurring any cost of complying with the minimum reserve      requirements of the European Central Bank;or |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.2.4 | the      occurrence of any market disruptionevent, |
|--------|--------|----------------------------------------------------|

|   | 14.2.5 | such      novation shall not conflict with or violate any law applicable to or      binding on such Finance Party (or, if applicable, its Affiliate);      and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.2.6 | the      Company shall have paid to the Finance Party (or, if applicable, its      Affiliate) all amounts accrued and owing  hereunder. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.2.7 | the      relevant Finance Party shall have mitigated the effect of the relevant      event or circumstance as provided in Clause 14.1.1.1, and the novation      would have no greater or further mitigating effect;  or |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.2.8 | the      relevant event or circumstances are applicable to all Finance      Parties. |
|--------|--------|--------------------------------------------------------------------------------------|

| 14.3 | Conduct of business by a      Finance Party |
|------|---------------------------------------------|

|   | 14.3.1 | interfere      with the right of any Finance Party to arrange its affairs (Tax or      otherwise) in whatever manner it thinks fit or oblige any Finance Party to      investigate or claim any Tax Credit;or |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14.3.2 | oblige      any Finance Party to disclose any information relating to its affairs (Tax      or otherwise) or any computation in respect of  Tax. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| 15. | PAYMENTS |
|-----|----------|

| 15.1 | Place |
|------|-------|

|   | 15.1.1 | in      the principal financial centre of the country of the relevant currency;      or |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | 15.1.2 | in      the case of euro, in the principal financial centre of a Participating      Member State or London, |
|--------|--------|-------------------------------------------------------------------------------------------------------------|

| 15.2 | Funds |
|------|-------|

| 15.3 | Distribution |
|------|--------------|

|   | 15.3.1 | Each      payment received by the Facility Agent under the Finance Documents for      another Party must, except as provided below, be made available by the      Facility Agent to that Party by payment (as soon as practicable after      receipt) to its account with such office or  bank: |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.3.1.1 | in      the principal financial centre of the country of the relevant currency;      or |
|--------|----------|-----------------------------------------------------------------------------------------|

|   | 15.3.1.2 | in      the case of euro, in the principal financial centre of a Participating      Member State or London, |
|--------|----------|-------------------------------------------------------------------------------------------------------------|

|   | 15.3.2 | The      Facility Agent may apply any amount received by it for the Company in or      towards payment (as soon as practicable after receipt) of any amount due      from the Company under the Finance Documents or in or towards the purchase      of any amount of any currency to be soapplied. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.3.3 | Where      a sum is paid to the Facility Agent under this Agreement for another      Party, the Facility Agent is not obliged to pay that sum to that Party      until it has established that it has actually received      it.  However, the Facility Agent may assume that the sum has      been paid to it, and, in reliance on that assumption, make available to      that Party a corresponding amount.  If it transpires that the      sum has not been received by the Facility Agent, that Party must      immediately on demand by the Facility Agent refund any corresponding      amount made available to it together with interest on that amount from the      date of payment to the date of receipt by the Facility Agent at a rate      calculated by the Facility Agent to reflect its cost of    funds. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15.4 | Currency |
|------|----------|

|   | 15.4.1 | Unless      a Finance Document specifies that payments under it are to be made in a      different manner, the currency of each amount payable under the Finance      Documents is determined under thisClause. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.4.2 | Interest      is payable in the currency in which the relevant amount in respect of      which it is payable is denominated. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------|

|   | 15.4.3 | A      repayment or prepayment of any principal amount (or overdue amount) is      payable in the currency in which that principal amount (or overdue amount)      is denominated on its due date. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.4.4 | Amounts      payable in respect of costs and expenses and Taxes are payable in the      currency in which they areincurred. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|

|   | 15.4.5 | Each      other amount payable under the Finance Documents is payable in      Sterling. |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | 15.4.6 | Any      amount expressed to be payable in a currency other than Sterling shall be      paid in that other currency. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------|

| 15.5 | No set-off or      counterclaim |
|------|---------------------------------|

| 15.6 | Business      Days |
|------|--------------------|

|   | 15.6.1 | If      a payment under the Finance Documents is due on a day which is not a      Business Day, the due date for that payment will instead be the next      Business Day in the same calendar month (if there is one) or the preceding      Business Day (if there is not) or whatever day the Facility Agent      determines is market practice. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.6.2 | During      any extension of the due date for payment of any principal (or overdue      amount) under this Agreement interest is payable on that principal (or      overdue amount) at the rate payable on the original due    date. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15.7 | Partial      payments |
|------|-----------------------|

|   | 15.7.1 | If      any Administrative Party receives a payment insufficient to discharge all      the amounts then due and payable by the Company under the Finance      Documents, the Administrative Party must apply that payment towards the      obligations of the Company under the Finance Documents in the following      order: |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.7.1.1 | first, in or towards      payment pro rata of any unpaid fees, costs and expenses of the      Administrative Parties under the Finance  Documents; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.7.1.2 | secondly, in or towards      payment pro rata of any accrued interest or fee due but unpaid under this      Agreement; |
|--------|----------|------------------------------------------------------------------------------------------------------------------------|

|   | 15.7.1.3 | thirdly, in or towards      payment pro rata of any principal amount due but unpaid under this      Agreement; and |
|--------|----------|--------------------------------------------------------------------------------------------------------------------|

|   | 15.7.1.4 | fourthly, in or towards      payment pro rata of any other sum due but unpaid under the Finance      Documents. |
|--------|----------|-----------------------------------------------------------------------------------------------------------------|

|   | 15.7.2 | The      Facility Agent must, if so directed by all the Lenders, vary the order set      out in sub-clauses 15.7.1.1 to 15.7.1.4above. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 15.7.3 | This      Subclause will override any appropriation made by the    Company. |
|--------|--------|-----------------------------------------------------------------------------|

| 15.8 | Timing of      payments |
|------|-------------------------|

| 16. | REPRESENTATIONS |
|-----|-----------------|

| 16.1 | Representations |
|------|-----------------|

| 16.2 | Status |
|------|--------|

| 16.3 | Powers and      authority |
|------|---------------------------|

| 16.4 | Legal      validity |
|------|---------------------|

| 16.5 | Non-conflict |
|------|--------------|

|   | 16.5.1 | any      law or regulation applicable to it and violation of which has or is likely      to have a Material Adverse Effect;or |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------|

|   | 16.5.2 | its      constitutional documents. |
|--------|--------|------------------------------------|

| 16.6 | No    default |
|------|---------------|

|   | 16.6.1 | No      Event of Default is continuing or might reasonably be expected to result      from the making of any Loan. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

|   | 16.6.2 | No      other event or circumstance is outstanding which constitutes a default      under any other agreement or instrument which is binding on it or any of      its Subsidiaries or to which its (or any of its Subsidiaries’) assets are      subject which might have a Material Adverse  Effect. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.7 | Authorisations |
|------|----------------|

| 16.8 | Financial      statements |
|------|---------------------------|

|   | 16.8.1 | have      been prepared in accordance with accounting principles and practices      generally accepted in its jurisdiction of incorporation, consistently      applied; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.8.2 | fairly      represent its consolidated financial condition as at the date to which      they were drawn up, |
|--------|--------|-------------------------------------------------------------------------------------------------------------|

| 16.9 | No material adverse      change |
|------|---------------------------------|

| 16.10 | Litigation No litigation, arbitration or      administrative proceedings are current or, to its knowledge, pending or      threatened, which, if adversely determined, are reasonably likely to have      a Material Adverse Effect. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.11 | Winding UpNo meeting has been convened for its      winding-up and, so far as it is aware, no petition, application or the      like is outstanding for its winding-up.  |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.12 | Non-Violation of other      Agreements: Its entry into, exercise of its rights      and/or performance of or compliance with its obligations under this      Agreement do not and will not violate, to an extent or in a manner which      has or is likely to have a Material Adverse Effect on it, any agreement to      which it is a party or which is binding onit. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.13 | Governing Law and      Enforcement |
|-------|------------------------------------|

|   | 16.13.1 | The      choice of English law as the governing law of the Finance Documents will      be recognised and enforced in its jurisdiction of      incorporation. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.13.2 | Any      judgement obtained in England in relation to a Finance Document will be      recognised and enforced in its jurisdiction of    incorporation. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.14 | Deduction of      Tax It is not required to make any deduction      for or on account of Tax from any payment it may make under any Finance      Document to a Lender which is a UKLender. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.15 | No filing or stamp      taxes Under the law of its jurisdiction of      incorporation it is not necessary that the Finance Documents be filed,      recorded or enrolled with any court or other authority in that      jurisdiction or that any stamp, registration or similar tax be paid on or      in relation to the Finance Documents or the transactions contemplated by      the Finance Documents. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.16 | No misleading      information |
|-------|--------------------------------|

|   | 16.16.1 | Any      factual information provided by any member of the Group for the purposes      of the Information Package was true and accurate in all material respects      as at the date it was provided or as at the date (if any) at which it is      stated. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.16.2 | The      financial projections contained in the Information Package have been      prepared on the basis of recent historical information and on the basis of      reasonable assumptions. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.16.3 | Nothing      has occurred or been omitted from the Information Package and no      information has been given or withheld that results in the information      contained in the Information Package being untrue or misleading in any      material respect. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.17 | Pari Passu      ranking Its payment obligations under the Finance      Documents rank at least pari passu with the claims of all its other      unsecured and unsubordinated creditors, except for obligations mandatorily      preferred by law applying to companies  generally. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.18 | Times for making      representations |
|-------|---------------------------------------|

|   | 16.18.1 | The      representations set out in this Clause are made by the Company on the date      of this Agreement. |
|--------|---------|-------------------------------------------------------------------------------------------------------------|

|   | 16.18.2 | The      representations in Clauses 16.2 to 16.8 (inclusive), 16.10 to 16.13      (inclusive) are deemed to be repeated by the Company on the date of each      Request and the first day of eachTerm. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.18.3 | When      a representation is repeated, it is applied to the circumstances existing      at the time of repetition. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------|

| 17. | INFORMATION      COVENANTS |
|-----|----------------------------|

| 17.1 | Financial      statements |
|------|---------------------------|

|   | 17.1.1 | The      Company must supply to the Facility Agent in sufficient copies for all the      Lenders: |
|--------|--------|---------------------------------------------------------------------------------------------------|

|   | 17.1.1.1 | its      audited consolidated financial statements for each of its financial years;      and |
|--------|----------|----------------------------------------------------------------------------------------------|

|   | 17.1.1.2 | its      interim consolidated financial statements for the first half-year of each      of its financial years. |
|--------|----------|-----------------------------------------------------------------------------------------------------------------|

|   | 17.1.2 | All      financial statements must be supplied as soon as they are available      and: |
|--------|--------|----------------------------------------------------------------------------------------|

|   | 17.1.2.1 | in      the case of the Company's audited consolidated financial statements,      within 180 days; and |
|--------|----------|-------------------------------------------------------------------------------------------------------------|

|   | 17.1.2.2 | in      the case of the Company's interim financial statements, within      90 days, |
|--------|----------|-------------------------------------------------------------------------------------------|

| 17.2 | Form of Financial      Statement |
|------|----------------------------------|

|   | 17.2.1 | The      Company and the Facility Agent (on behalf of and after consultation with      all the Lenders) shall, on the request of the Facility Agent or the      Company, negotiate in good faith with a view to agreeing such amendments      to the above financial ratio and/or the definitions of the terms used in      it as are necessary to give the Lenders comparable protection to that      contemplated at the date of thisAgreement; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.2.2 | If      amendments are agreed by the Company and the Majority Lenders within 25      days, those amendments shall take effect in accordance with the terms of      that agreement; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.2.3 | If      such amendments are not so agreed within 25 days, the Company      shall: |
|--------|--------|-----------------------------------------------------------------------------------|

|   | 17.2.3.1 | within      30 days after the end of that 25 day period;and |
|--------|----------|-------------------------------------------------------------|

|   | 17.2.3.2 | with      all subsequent financial statements to be delivered to the Facility Agent      under Clause 17.1, |
|--------|----------|------------------------------------------------------------------------------------------------------------------|

| 17.3 | Compliance      Certificate |
|------|-----------------------------|

|   | 17.3.1 | The      Company must supply to the Facility Agent a Compliance Certificate with      each set of its financial statements, sent to the Facility Agent under      this Agreement. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.3.2 | A      Compliance Certificate must be signed by two directors of the      Company. |
|--------|--------|------------------------------------------------------------------------------------|

| 17.4 | Information -      miscellaneous |
|------|----------------------------------|

|   | 17.4.1 | copies      of all documents despatched by the Company to its creditors generally or      any class of them at the same time as they are  despatched; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.4.2 | promptly      upon becoming aware of them, details of any litigation, arbitration or      administrative proceedings which are current, threatened or pending and      which might, if adversely determined, have a Material Adverse      Effect; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.4.3 | promptly      on request, a list of the then current Material Subsidiaries;      and |
|--------|--------|--------------------------------------------------------------------------------------|

|   | 17.4.4 | promptly      on request, such further information regarding the financial condition and      operations of the Group as any Finance Party through the Facility Agent      may reasonably request. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.5 | Notification of      Default |
|------|------------------------------|

|   | 17.5.1 | The      Company must notify the Facility Agent of any Default (and the steps, if      any, being taken to remedy it) promptly upon becoming aware of its      occurrence. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.5.2 | Promptly      on request by the Facility Agent, the Company must supply to the Facility      Agent a certificate signed by two of its directors on its behalf,      certifying that no Default is outstanding or, if a Default is outstanding,      specifying the Default and the steps, if any, being taken to remedy      it. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.6 | Use of      websites |
|------|----------------------|

|   | 17.6.1 | Except      as provided below, the Company may deliver any information under this      Agreement to a Lender by posting it on to an electronic website      if: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.6.1.1 | the      Facility Agent and the Lenderagree; |
|--------|----------|----------------------------------------------|

|   | 17.6.1.2 | the      Company and the Facility Agent designate an electronic website for this      purpose; |
|--------|----------|------------------------------------------------------------------------------------------------|

|   | 17.6.1.3 | the      Company notifies the Facility Agent of the address of and password for the      website; and |
|--------|----------|-------------------------------------------------------------------------------------------------------|

|   | 17.6.1.4 | the      information posted is in a format agreed between the Company and the      Facility Agent. |
|--------|----------|----------------------------------------------------------------------------------------------------|

|   | 17.6.2 | Notwithstanding      the above, the Company must supply to the Facility Agent in paper form a      copy of any information posted on the website together with sufficient      copies for: |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.6.2.1 | any      Lender not agreeing to receive information via the website;      and |
|--------|----------|-------------------------------------------------------------------------------|

|   | 17.6.2.2 | within      ten Business Days of request any other Lender, if that Lender so      requests. |
|--------|----------|---------------------------------------------------------------------------------------------|

|   | 17.6.3 | The      Company must promptly upon becoming aware of its occurrence, notify the      Facility Agent if: |
|--------|--------|----------------------------------------------------------------------------------------------------------|

|   | 17.6.3.1 | the      website cannot be accessed; |
|--------|----------|--------------------------------------|

|   | 17.6.3.2 | the      website or any information on the website is infected by any electronic      virus or similar software; |
|--------|----------|------------------------------------------------------------------------------------------------------------------|

|   | 17.6.3.3 | the      password for the website is changed;or |
|--------|----------|-------------------------------------------------|

|   | 17.6.3.4 | any      information to be supplied under this Agreement is posted on the website      or amended after being posted. |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------|

| 17.7 | Know your customer      requirements |
|------|--------------------------------------|

|   | 17.7.1 | The      Company must promptly on the request of any Finance Party supply to that      Finance Party any documentation or other evidence which is reasonably      requested by that Finance Party (whether for itself, on behalf of any      Finance Party or any prospective new Lender) to enable a Finance Party or      prospective new Lender to carry out and be satisfied with the results of      all applicable know your customerrequirements. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 17.7.2 | Each      Lender must promptly on the request of the Facility Agent supply to the      Facility Agent any documentation or other evidence which is reasonably      required by the Facility Agent to carry out and be satisfied with the      results of all know your customerrequirements. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18. | FINANCIAL      COVENANTS |
|-----|--------------------------|

| 18.1 | Definitions |
|------|-------------|

|   | (a) | that      cash is repayable: |
|--------|-----|------------------------------|

|   | (i) | if      that cash is deposited with a Lender, within 270 days after the relevant      date of calculation; or |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (ii) | if      that cash is deposited with any other lender or financial institution,      within 45 days after the relevant date of  calculation; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (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 Interest over that cash other than Security Interests      permitted under Clause 19.5.3.9 (Negative      pledge);  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 maturing within one year after the relevant date of calculation      and issued by 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) | sterling      bills of exchange eligible for rediscount at the Bank of England (or their      dematerialised equivalent) and accepted by an Acceptable    Bank; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | any      investment in money market fundswhich: |
|--------|-----|-------------------------------------------------|

|   | (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 Clauses (a) to (d) above; and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | can      be turned into cash on not more than 30 days' notice;  or |
|--------|-------|--------------------------------------------------------------------|

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

|   | (a) | adding      back Interest Payable; |
|--------|-----|------------------------------------|

|   | (b) | taking      no account of any exceptional or extraordinary  item; |
|--------|-----|-------------------------------------------------------------------|

|   | (c) | excluding      any amount attributable to minorityinterests; |
|--------|-----|--------------------------------------------------------------|

|   | (d) | adding      back depreciation and amortisation;and |
|--------|-----|----------------------------------------------------|

|   | (e) | taking      no account of any revaluation of an asset or any loss or gain over book      value arising on the disposal of an asset (otherwise than in the ordinary      course of trading) by a member of the Group during that Measurement      Period. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.2 | Interpretation |
|------|----------------|

|   | 18.2.1 | Except      as provided to the contrary in this Agreement, an accounting term used in      this Clause is to be construed in accordance with the principles applied      in connection with the Original Financial  Statements. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 18.2.2 | Any      amount in a currency other than Sterling is to be taken into account at      its Sterling equivalent calculated on the basis  of: |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | 18.2.2.1 | the      Facility Agent's spot rate of exchange for the purchase of the relevant      currency in the London foreign exchange market with Sterling at or about      11.00 a.m. on the day the relevant amount falls to be calculated;      or |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 18.2.2.2 | if      the amount is to be calculated on the last day of a financial period of      the Company, the relevant rates of exchange used by the Company in, or in      connection with, its financial statements for that  period. |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 18.2.3 | No      item must be credited or deducted more than once in any calculation under      this Clause. |
|--------|--------|-----------------------------------------------------------------------------------------------------|

| 18.3 | Interest      cover |
|------|---------------------|

| 18.4 | Asset    Cover |
|------|----------------|

| 19. | General      Covenants |
|-----|------------------------|

| 19.1 | General |
|------|---------|

| 19.2 | Authorisations |
|------|----------------|

| 19.3 | Compliance with      laws |
|------|---------------------------|

| 19.4 | Pari passu      ranking |
|------|-------------------------|

| 19.5 | Negative      pledge |
|------|----------------------|

|   | 19.5.1 | Except      as provided below, neither the Company nor any Material Subsidiary may      create or allow to exist any Security Interest or Quasi-Security on any of      its assets. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.2 | Except      as provided below, neither the Company nor any Material Subsidiary      may: |
|--------|--------|------------------------------------------------------------------------------------------|

|   | 19.5.2.1 | sell,      transfer or otherwise dispose of any of its assets on terms whereby they      are or may be leased to or re-acquired by the Company or any Material      Subsidiary; |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.2.2 | sell,      transfer or otherwise dispose of any of its receivables on recourse      terms; |
|--------|----------|--------------------------------------------------------------------------------------------|

|   | 19.5.2.3 | 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 |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.2.4 | enter      into any other preferential arrangement having a similar      effect, |
|--------|----------|----------------------------------------------------------------------------------|

|   | 19.5.3.1 | any      Security Interest or Quasi-Security created under or in connection with or      arising out of the Balancing and Settlement Code or any transactions or      arrangements entered into in connection with the management of risks      relating thereto; |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.2 | in      respect of overdue amounts which have not been overdue for more than 30      days and/or are being contested in good faith, liens arising solely by      operation of law or by order of a court or tribunal (or by an agreement of      similar effect) and/or in the ordinary course of business or      operations; |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.3 | any      Security Interest or Quasi-Security created after the date of this      Agreement for the sole purpose of re-financing all or any part of the      Facility (at the option of the Company) provided that the monies borrowed      or raised on such Security Interest or Quasi-Security shall, to that      extent, be applied reasonably promptly in accordance with this Agreement      in or towards repayment of the relevant  Facility; |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.4 | any      Security Interest or Quasi-Security arising out of title retention      provisions in a supplier's standard conditions of supply of goods acquired      in the ordinary course of business or  operations; |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.5 | any      Security Interest or Quasi-Security created on any asset acquired after      the date of this Agreement for the sole purpose of financing or      re-financing that acquisition and securing a principal, capital or nominal      amount not exceeding the cost of that acquisition, provided that the      Security Interest or Quasi-Security is removed or discharged within 6      months of the date of acquisition of suchasset; |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.6 | any      Security Interest or Quasi-Security outstanding on or over any asset      acquired after the date of this Agreement and in existence at the date of      such acquisition, provided that the Security Interest or Quasi-Security is      removed or discharged within 6 months of the date of acquisition of such      asset; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.7 | any      Security Interest or Quasi-Security created or outstanding on or over any      asset of any company which becomes a Material Subsidiary of the Company      after the date of this Agreement where such Security Interest or      Quasi-Security is created prior to the date on which such company becomes      a Material Subsidiary of the Company and is not created or increased in      contemplation of such company being acquired and/or becoming a Material      Subsidiary of the Company and the Security Interest or Quasi-Security is      removed or discharged within 6 months of the date of such company becoming      a Material Subsidiary of theCompany; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.8 | any      Security Interest or Quasi-Security created on any asset to secure any      Financial Indebtedness incurred in connection with the financing of any      asset or project in respect of which the repayment of that Financial      Indebtedness is to be made from the revenues arising out of, or other      proceeds of realisation from, that asset or project, with recourse to      those revenues and proceeds and other assets used in connection with, or      forming the subject matter of, that asset or project but without recourse      (or with such limited recourse as the Majority Lenders may from time to      time agree) to any other assets of theGroup; |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.9 | any      netting arrangements under any swap or other hedging transaction which is      on standard market terms; |
|--------|----------|-------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.10 | any      Security Interest or Quasi-Security created or outstanding with the prior      approval of the Majority Lenders;and |
|--------|-----------|------------------------------------------------------------------------------------------------------------------------------|

|   | 19.5.3.11 | any      Security Interest or Quasi-Security created or outstanding on or over      assets of the Company or any of its Material Subsidiaries provided that      the aggregate outstanding principal or nominal amount secured by all      Security Interests and Quasi-Security created or outstanding under this      exception on or over such assets shall not at any time exceed £25,000,000      or its equivalent. |
|--------|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.6 | Disposals |
|------|-----------|

|   | 19.6.1 | Except      as provided below, no member of the Group may, either in a single      transaction or in a series of transactions and whether related or not,      dispose of all or any part of its assets (other than cash) where the      higher of the market value and the net consideration receivable (when      aggregated with the higher of the market value and the net consideration      receivable from any previous disposal by members of the Group) exceeds      £5,000,000 (or its equivalent) in total during the term of this      Agreement. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2 | Clause      19.6.1 does not apply to: |
|--------|--------|---------------------------------------|

|   | 19.6.2.1 | any      disposal made in the ordinary course of business or operations of the      disposing entity (including, without limitation, disposals of subsidiaries      or lines of business, provided that this shall not include a disposal of      the core electricity distributionbusiness); |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2.2 | disposals      on normal commercial terms of obsolete assets or assets no longer required      for the purpose of the relevant Person's business or      operations; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2.3 | any      realisation of investments acquired, purchased or made by the temporary      application of funds not immediately required in the relevant Person's      business or operations; |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2.4 | the      exchange of assets for other assets of a similar or superior nature and      value, or the sale of assets on normal commercial terms for cash which is      payable in full on the completion of the sale and is to be, and is,      applied in or towards the purchase of similar assets within 6      months; |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2.5 | the      disposal of assets by one wholly-owned Subsidiary of the Company to      another or (if the consideration for the disposal does not exceed a normal      commercial consideration) to the Company by one of its      Subsidiaries; |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2.6 | disposals      in connection with sale-and-leaseback or sale and repurchase transactions      or any other form of "off balance sheet" financing, provided that the      aggregate book value (in the books of the disposing party) of all assets      the subject of all such disposals made during the period commencing on the      date of this Agreement and ending on the date when no amount remains to be      lent or remains payable under this Agreement shall not exceed £50,000,000;      and |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.6.2.7 | any      disposal which the Majority Lenders shall have agreed shall not be taken      into account. |
|--------|----------|------------------------------------------------------------------------------------------------------|

| 19.7 | Environmental      matters |
|------|----------------------------|

| 19.8 | Insurance |
|------|-----------|

| 19.9 | Merger The Company shall not enter into any      amalgamation, demerger, merger or corporate  reconstruction. |
|------|--------------------------------------------------------------------------------------------------------------------|

| 19.10 | Change of      business The Company shall procure that no      substantial change is made to the general nature of the business of the      Company or the Group from that carried on at the date of this      Agreement. |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.11 | Acquisitions Except as provided below, neither the      Company nor any Material Subsidiary may acquire a company or any shares or      securities or a business or undertaking (or, in each case, any interest in      any of them). |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.11.1 | Provided      that no Event of Default is continuing on the date of the acquisition or      would occur as a result of the acquisition, Clause 19.11.1 does not apply      to: |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.11.1.1 | an      acquisition by a member of the Group of an asset sold, leased, transferred      or otherwise disposed of by another member of the Group as permitted under      clause 19.6.2 above; |
|--------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.11.1.2 | an      acquisition where the consideration (including associated costs and      expenses) for the acquisition (when aggregated with the consideration      (including associated costs and expenses) for any other acquisition      permitted under this paragraph during the term of this Agreement does not      exceed 2.5% of the sum of the issued share capital, share premium and      consolidated reserves (including retained earnings) of the Company, as      shown by its most recent audited consolidated financial statements;      and |
|--------|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 19.11.1.3 | any      acquisition which the Majority Lenders shall have consented to in      writing. |
|--------|-----------|------------------------------------------------------------------------------------------|

| 19.12 | Prohibition on the Debt      Purchase Transactions of the Group The Company shall not, and shall procure      that each other member of the Group shall not, enter into any Debt      Purchase Transaction or beneficially own all or any part of the share      capital of a company that is a Lender or a party to a Debt Purchase      Transaction of the type referred to in paragraphs (b) and (c) of the      definition of Debt PurchaseTransaction. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20. | DEFAULT |
|-----|---------|

| 20.1 | Events of      Default |
|------|------------------------|

| 20.2 | Non-payment |
|------|-------------|

|   | 20.2.1 | its      failure to pay is caused by administrative or technical error;      and |
|--------|--------|----------------------------------------------------------------------------------|

|   | 20.2.2 | payment      is made within 5 Business Days of its duedate. |
|--------|--------|-------------------------------------------------------------|

| 20.3 | Breach of other      obligations |
|------|----------------------------------|

|   | 20.3.1 | The      Company does not perform or comply with its obligations under      Clause 18 (Financial covenants), Clause 19.5 (Negative Pledge),      Clause 19.6 (Disposals) or Clause 19.11  (Acquisitions). |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.3.2 | The      Company does not perform or comply with any of its other obligations under      any Finance Document in any material respect or any representation or      warranty by the Company in this Agreement or in any document delivered      under it is or proves to have been incorrect when made or deemed repeated,      unless the non-compliance or circumstances giving rise to the      misrepresentation, as the case may be, is capable of remedy and is not      remedied within 30 Business Days of the earlier of the Facility Agent      giving notice requiring the same to be remedied and the Company becoming      aware of such non-compliance or misrepresentation, as the case may      be. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.4 | Cross-default |
|------|---------------|

|   | 20.4.1 | Any      Financial Indebtedness of the Company is not paid when due nor within any      originally applicable grace period. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|

|   | 20.4.2 | Any      Financial Indebtedness of the Company is declared to be or otherwise      becomes due and payable prior to its specified maturity as a result of an      event of default (howeverdescribed). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.4.3 | Any      commitment for any Financial Indebtedness of the Company is cancelled or      suspended by a creditor of the Company as a result of an event of default      (however described). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.4.4 | Any      creditor of the Company becomes entitled to declare any Financial      Indebtedness of the Company due and payable prior to its specified      maturity as a result of an event of default (however      described). |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.4.5 | No      Event of Default will occur under this clause 20.4 unless and until the      aggregate amount of such Financial Indebtedness falling within clauses      20.4.1 to 20.4.4 above is more than £20,000,000 or its equivalent in any      other currency or currencies. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.5 | Insolvency |
|------|------------|

|   | 20.5.1 | Any      of the following occurs in respect of the  Company: |
|--------|--------|--------------------------------------------------------------|

|   | 20.5.1.1 | it      is unable to pay its debts generally as they fall due or it is deemed by a      court of competent jurisdiction to beinsolvent; |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.5.1.2 | it      suspends making payments on all or any class of its debts or publicly      announces an intention to do so; |
|--------|----------|---------------------------------------------------------------------------------------------------------------------|

|   | 20.5.1.3 | by      reason of actual or anticipated financial difficulties, it begins      negotiations with all or any class of its creditors for the general      rescheduling of its indebtedness;or |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.5.1.4 | a      moratorium is declared in respect of any of its    indebtedness. |
|--------|----------|-------------------------------------------------------------------------|

|   | 20.5.2 | If      a moratorium occurs in respect of the Company, the ending of the      moratorium will not remedy any Event of Default caused by the      moratorium. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.6 | Insolvency      proceedings |
|------|-----------------------------|

|   | 20.6.1 | Except      as provided below, any of the following occurs in respect of the      Company: |
|--------|--------|--------------------------------------------------------------------------------------------|

|   | 20.6.1.1 | any      person presents a petition for its winding-up, administration or      dissolution; |
|--------|----------|---------------------------------------------------------------------------------------------|

|   | 20.6.1.2 | an      order for its winding-up, administration or dissolution is      made; |
|--------|----------|-------------------------------------------------------------------------------|

|   | 20.6.1.3 | any      liquidator, trustee in bankruptcy, judicial custodian, compulsory manager,      receiver, administrative receiver, administrator or similar officer is      appointed in respect of it or any of itsassets; |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.6.1.4 | its      directors or other officers request the appointment of a liquidator,      trustee in bankruptcy, judicial custodian, compulsory manager, receiver,      administrative receiver, administrator or similar officer;    or |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.6.1.5 | any      other analogous step or procedure is taken in any      jurisdiction. |
|--------|----------|-------------------------------------------------------------------------------|

|   | 20.6.2 | Clause      20.6.1 does not apply to (i) a petition for winding-up presented by a      creditor which is being actively contested in good faith and with due      diligence and with a reasonable prospect of success or (ii) a voluntary      solvent winding-up, amalgamation, reconstruction or reorganisation or      otherwise part of a solvent scheme of arrangement, in each case on terms      approved by the Majority Lenders. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.7 | Creditors'      process |
|------|-------------------------|

| 20.8 | Licence |
|------|---------|

| 20.9 | Balancing and Settlement      Code |
|------|------------------------------------|

|   | 20.9.1 | The      Company ceases to be a party to the Balancing and Settlement Code      Framework Agreement other than in circumstances where the Company is able      to carry its distribution business;or |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.9.2 | the      Company breaches the Balancing and Settlement Code and such breach has or      is reasonably likely to have a Material Adverse Effect other than in      circumstances where the Company is able to carry on its distribution      business. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.10 | Unlawfulness and      invalidity |
|-------|----------------------------------|

|   | 20.10.1 | It      is or becomes unlawful for the Company to perform any of its obligations      under the Finance Documents in any material  respect. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.10.2 | Any      obligation or obligations of the Company under any Finance      Documents  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 FinanceDocuments. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.11 | Cessation of      business The Company suspends or ceases to carry on      (or threatens to suspend or cease to carry on) all or a material part of      its business except as a result of a disposal permitted by clause      19.6. |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.12 | Material Adverse      Effect Any event or circumstance occurs which has      or is reasonably likely to have a Material Adverse  Effect. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| 20.13 | Acceleration If an Event of Default is outstanding, the      Facility Agent may, and must if so instructed by the Majority Lenders, by      notice to the Company: |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.13.1 | cancel      the Total Commitments; and/or |
|--------|---------|-------------------------------------------|

|   | 20.13.2 | declare      that all or part of any amounts outstanding under the Finance Documents      are: |
|--------|---------|------------------------------------------------------------------------------------------------|

|   | 20.13.2.1 | immediately      due and payable; and/or |
|--------|-----------|------------------------------------------|

|   | 20.13.2.2 | payable      on demand by the Facility Agent acting on the instructions of the Majority      Lenders. |
|--------|-----------|-------------------------------------------------------------------------------------------------------|

| 21. | THE ADMINISTRATIVE      PARTIES |
|-----|---------------------------------|

| 21.1 | Appointment and duties of the      Facility Agent |
|------|---------------------------------------------------|

|   | 21.1.1 | Each      Finance Party (other than the Facility Agent) irrevocably appoints the      Facility Agent to act as its agent under the Finance      Documents. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.1.2 | Each      Finance Party irrevocably authorises the Facility Agent  to: |
|--------|--------|------------------------------------------------------------------------|

|   | 21.1.2.1 | perform      the duties and to exercise the rights, powers and discretions that are      specifically given to it under the Finance Documents, together with any      other incidental rights, powers and discretions;  and |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.1.2.2 | execute      each Finance Document expressed to be executed by the Facility      Agent. |
|--------|----------|-----------------------------------------------------------------------------------------|

|   | 21.1.3 | The      Facility Agent has only those duties which are expressly specified in the      Finance Documents.  Those duties are solely of a mechanical and      administrative nature. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.2 | Role of the Mandated Lead      Arranger |
|------|-----------------------------------------|

| 21.3 | No fiduciary      duties |
|------|--------------------------|

| 21.4 | Individual position of an      Administrative Party |
|------|-----------------------------------------------------|

|   | 21.4.1 | If      it is also a Lender, each Administrative Party has the same rights and      powers under the Finance Documents as any other Lender and may exercise      those rights and powers as though it were not an Administrative      Party. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.4.2 | Each      Administrative Party may: |
|--------|--------|-------------------------------------|

|   | 21.4.2.1 | carry      on any business with the Company or its related entities (including acting      as an agent or a trustee for any other financing);  and |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.4.2.2 | retain      any profits or remuneration it receives under the Finance Documents or in      relation to any other business it carries on with the Company or its      related entities. |
|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.5 | Reliance |
|------|----------|

|   | 21.5.1 | rely      on any notice or document believed by it to be genuine and correct and to      have been signed by, or with the authority of, the proper      person; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.5.2 | rely      on any statement made by any person regarding any matters which may      reasonably be assumed to be within his knowledge or within his power to      verify; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.5.3 | engage,      pay for and rely on professional advisers selected by it (including those      representing a Party other than the Facility Agent);  and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.5.4 | act      under the Finance Documents through its personnel and    agents. |
|--------|--------|---------------------------------------------------------------------------|

| 21.6 | Majority Lenders'      instructions |
|------|-------------------------------------|

|   | 21.6.1 | The      Facility Agent is fully protected if it acts on the instructions of the      Majority Lenders in the exercise of any right, power or discretion or any      matter not expressly provided for in the Finance Documents.  Any      such instructions given by the Majority Lenders will be binding on all the      Lenders.  In the absence of instructions, the Facility Agent may      act as it considers to be in the best interests of all the      Lenders. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.6.2 | The      Facility Agent is not authorised to act on behalf of a Lender (without      first obtaining that Lender's consent) in any legal or arbitration      proceedings in connection with any Finance  Document. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.6.3 | The      Facility Agent may require the receipt of security satisfactory to it,      whether by way of payment in advance or otherwise, against any liability      or loss which it may incur in complying with the instructions of the      Majority Lenders. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.7 | Responsibility |
|------|----------------|

|   | 21.7.1 | No      Administrative Party is responsible to any other Finance Party for the      adequacy, accuracy or completenessof: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------|

|   | 21.7.1.1 | any      Finance Document or any other document;or |
|--------|----------|----------------------------------------------------|

|   | 21.7.1.2 | any      statement or information (whether written or oral) made in or supplied in      connection with any FinanceDocument. |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------|

|   | 21.7.2 | Without      affecting the responsibility of the Company for information supplied by it      or on its behalf in connection with any Finance Document, each Lender      confirms that it: |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.7.2.1 | has      made, and will continue to make, its own independent appraisal of all      risks arising under or in connection with the Finance Documents (including      the financial condition and affairs of the Company and its related      entities and the nature and extent of any recourse against any Party or      its assets); and |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.7.2.2 | has      not relied exclusively on any information provided to it by any      Administrative Party in connection with any Finance    Document. |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.7.3 |
|--------|--------|

|   | 21.7.3.1 | Nothing      in this Agreement will oblige the Facility Agent to satisfy any know your      customer requirement in relation to the identity of any person on behalf      of any Finance Party. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.7.3.2 | Each      Finance Party confirms to the Facility Agent that it is solely responsible      for any know your customer requirements it is required to carry out and      that it may not rely on any statement in relation to those requirements      made by any other person. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.8 | Exclusion of      liability |
|------|-----------------------------|

|   | 21.8.1 | The      Facility Agent is not liable or responsible to any other Finance Party for      any action taken or not taken by it in connection with any Finance      Document, unless directly caused by its gross negligence or wilful      misconduct. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.8.2 | The      Facility Agent will not 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 the Facility Agent, if the Facility Agent      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 the Facility Agent for that    purpose. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.8.3 | No      Party may take any proceedings against any officer, employee or agent of      the Facility Agent in respect of any claim it might have against the      Facility Agent or in respect of any act or omission of any kind by that      officer, employee or agent in connection with any Finance      Document.  Any officer, employee or agent of the Facility Agent      may rely on this Subclause and enforce its terms under the Contracts      (Rights of Third Parties) Act 1999. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.9 | Default |
|------|---------|

|   | 21.9.1 | The      Facility Agent is not obliged to monitor or enquire whether a Default has      occurred.  The Facility Agent is not deemed to have knowledge of      the occurrence of a Default. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.9.2 | If      the Facility Agent: |
|--------|--------|-----------------------------|

|   | 21.9.2.1 | receives      notice from a Party referring to this Agreement, describing a Default and      stating that the event is a Default;or |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.9.2.2 | is      aware of the non-payment of any principal or interest or any fee payable      to a Lender under this Agreement, |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------|

| 21.10 | Information |
|-------|-------------|

|   | 21.10.1 | The      Facility Agent must promptly forward to the person concerned the original      or a copy of any document which is delivered to the Facility Agent by a      Party for that person. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.10.2 | Except      where a Finance Document specifically provides otherwise, the Facility      Agent is not obliged to review or check the adequacy, accuracy or      completeness of any document it forwards to another  Party. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.10.3 | Except      as provided above, the Facility Agent has no  duty: |
|--------|---------|-----------------------------------------------------------------|

|   | 21.10.3.1 | either      initially or on a continuing basis to provide any Lender with any credit      or other information concerning the risks arising under or in connection      with the Finance Documents (including any information relating to the      financial condition or affairs of the Company or its related entities or      the nature or extent of recourse against any Party or its assets) whether      coming into its possession before, on or after the date of this Agreement;      or |
|--------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.10.3.2 | unless      specifically requested to do so by a Lender in accordance with a Finance      Document, to request any certificate or other document from the      Company. |
|--------|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.10.4 | In      acting as the Facility Agent, the agency division of the Facility Agent is      treated as a separate entity from its other divisions and      departments.  Any information acquired by the Facility Agent      which, in its opinion, is acquired by it otherwise than in its capacity as      the Facility Agent may be treated as confidential by the Facility Agent      and will not be treated as information possessed by the Facility Agent in      its capacity as such. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.10.5 | The      Facility Agent is not obliged to disclose to any person any confidential      information supplied to it by a member of the Group solely for the purpose      of evaluating whether any waiver or amendment is required to any term of      the Finance Documents. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.10.6 | The      Company irrevocably authorises the Facility Agent to disclose to the other      Finance Parties any information which, in its opinion, is received by it      in its capacity as the FacilityAgent. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.11 | Indemnities |
|-------|-------------|

|   | 21.11.1 | Without      limiting the liability of the Company under the Finance Documents, each      Lender must indemnify the Facility Agent for that Lender's Pro Rata Share      of any loss or liability incurred by the Facility Agent in acting as the      Facility Agent, except to the extent that the loss or liability is caused      by the Facility Agent's gross negligence or wilful misconduct or to the      extent that the Facility Agent has been reimbursed in full by the Company      for such loss or liability. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.11.2 | The      Facility Agent may deduct from any amount received by it for a Lender any      amount due to the Facility Agent from that Lender under a Finance Document      but unpaid. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.11.3 | The      Company must indemnify the Facility Agent against any loss or liability      properly incurred by the Facility Agent as a result  of: |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.11.3.1 | investigating      any event which the Facility Agent reasonably believes to be a Default;      or |
|--------|-----------|----------------------------------------------------------------------------------------------------|

|   | 21.11.3.2 | acting      or relying on any notice which the Facility Agent reasonably believes to      be genuine, correct and appropriately  authorised. |
|--------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------|

| 21.12 | Compliance The Facility Agent may refrain from doing      anything (including disclosing any information) which might, in its      opinion, constitute a breach of any law or regulation or be otherwise      actionable at the suit of any person, and may do anything which, in its      opinion, is necessary or desirable to comply with any law or      regulation. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.13 | Resignation of the Facility      Agent |
|-------|----------------------------------------|

|   | 21.13.1 | The      Facility Agent may resign and appoint any of its Affiliates as successor      Facility Agent by giving notice to the Lenders and the      Company. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.2 | Alternatively,      the Facility Agent may resign by giving notice to the Lenders and the      Company, in which case the Majority Lenders may appoint a successor      Facility Agent. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.3 | If      no successor Facility Agent has been appointed under clause 21.13.2 above      within 30 days after notice of resignation was given, the Facility      Agent may appoint a successor FacilityAgent. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.4 | The      person(s) appointing a successor Facility Agent must, if practicable,      consult with the Company prior to the appointment.  Any      successor Facility Agent must have an office in the  U.K. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.5 | The      resignation of the Facility Agent and the appointment of any successor      Facility Agent will both become effective only when the successor Facility      Agent notifies all the Parties that it accepts its      appointment.  On giving the notification, the successor Facility      Agent will succeed to the position of the Facility Agent and the term      "Facility Agent"      will mean the successor FacilityAgent. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.6 | The      retiring Facility Agent must, at its own cost, make available to the      successor Facility Agent such documents and records and provide such      assistance as the successor Facility Agent may reasonably request for the      purposes of performing its functions as the Facility Agent under the      Finance Documents. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.7 | Upon      its resignation becoming effective, this Clause will continue to      benefit the retiring Facility Agent in respect of any action taken or not      taken by it in connection with the Finance Documents while it was the      Facility Agent, and, subject to Clause 21.13.6 above, it will have no      further obligations under any FinanceDocument. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.13.8 | The      Majority Lenders may, by notice to the Facility Agent, require it to      resign under Clause 21.13.2 above. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------|

| 21.14 | Relationship with      Lenders |
|-------|--------------------------------|

|   | 21.14.1 | The      Facility Agent may treat each Lender as a Lender, entitled to payments      under this Agreement and as acting through its Facility Office(s) until it      has received not less than five Business Days' prior notice from that      Lender to the contrary. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.14.2 | The      Facility Agent may at any time, and must if requested to do so by the      Majority Lenders, convene a meeting of the  Lenders. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.14.3 | The      Facility Agent must keep a register of all the Parties and supply any      other Party with a copy of the register on request.  The      register will include each Lender's Facility Office(s) and contact details      for the purposes of this Agreement. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.15 | Facility Agent's management      time If the Facility Agent requires, any amount      payable to the Facility Agent by any Party under any indemnity or in      respect of any costs or expenses incurred by the Facility Agent under the      Finance Documents after the date of this Agreement may include the cost of      using its management time or other resources and will be calculated on the      basis of such reasonable daily or hourly rates as the Facility Agent may      notify to the relevant Party.  This is in addition to any amount      in respect of fees or expenses paid or payable to the Facility Agent under      any other term of the FinanceDocuments. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.16 | Notice      period Where this Agreement specifies a minimum      period of notice to be given to the Facility Agent, the Facility Agent      may, at its discretion, accept a shorter notice  period. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22. | EVIDENCE AND      CALCULATIONS |
|-----|--------------------------------|

| 22.1 | Accounts Accounts maintained by a Finance Party in      connection with this Agreement are prima facie evidence of the matters to      which they relate for the purpose of any litigation or arbitration      proceedings. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.2 | Certificates and      determinations Any certification or determination by a      Finance Party of a rate or amount under the Finance Documents will be, in      the absence of manifest error, conclusive evidence of the matters to which      it relates. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.3 | Calculations |
|------|--------------|

| 23. | FEES |
|-----|------|

| 23.1 | Facility Agent's      fee |
|------|---------------------------|

| 23.2 | Participation      fee |
|------|------------------------|

| 23.3 | Commitment      fee |
|------|---------------------|

|   | 23.3.1 | Subject      to clause 23.3.2, the Company must pay a commitment fee computed at the      rate of 50 per cent. of the Margin on the undrawn, uncancelled amount of      each Lender's Commitment for the Availability Period calculated from the      date of this Agreement. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.3.2 | If      the first Utilisation Date occurs within 1 day of the date of this      Agreement, then the commitment fee referred to in clause 23.3.1 above      shall instead be calculated from that first Utilisation Date but, for the      avoidance of doubt, if the first Utilisation Date occurs more than      1 day after the date of this Agreement, then the commitment fee shall      be calculated from the date of thisAgreement. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.3.3 | The      commitment fee is payable quarterly in arrears. Accrued commitment fee is      also payable to the Facility Agent for a Lender on the date its Commitment      is cancelled in full. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 23.4 | Utilisation      fee |
|------|----------------------|

|   | 23.4.1 | The      Company must pay to the Facility Agent for each Lender a utilisation fee      computed at the rate of 0.25% per annum on the Total Commitments for each      day on which the aggregate amount of all drawn Loans exceeds      £75,000,000. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.4.2 | Utilisation      fee is payable on the amount of each Lender's share in the      Loans. |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | 23.4.3 | Accrued      utilisation fee is payable quarterly in arrear.  Accrued      utilisation fee is also payable to the Facility Agent for a Lender on the      date its Commitment is cancelled infull. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24. | INDEMNITIES AND BREAK      COSTS |
|-----|----------------------------------|

| 24.1 | Currency      indemnity |
|------|-------------------------|

|   | 24.1.1 | The      Company must, as an independent obligation, indemnify each Finance Party      against any loss or liability which that Finance Party incurs as a      consequence of: |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 24.1.1.1 | that      Finance Party receiving an amount in respect of the Company's liability      under the Finance Documents; or |
|--------|----------|------------------------------------------------------------------------------------------------------------------------|

|   | 24.1.1.2 | that      liability being converted into a claim, proof, judgment or      order, |
|--------|----------|----------------------------------------------------------------------------------|

|   | 24.1.2 | Unless      otherwise required by law, the Company waives any right it may have in any      jurisdiction to pay any amount under the Finance Documents in a currency      other than that in which it is expressed to be  payable. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.2 | Other      indemnities |
|------|------------------------|

|   | 24.2.1 | the      occurrence of any Event of Default; |
|--------|--------|----------------------------------------------|

|   | 24.2.2 | (other      than by reason of negligence or default by a Finance Party) a Loan not      being made after a Request has been delivered for that Loan;      or |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 24.2.3 | the      receipt or recovery by any party (or the Facility Agent on its behalf) of      all or any part of a Loan or overdue sum due from the Company otherwise      than on the Final Maturity Date or Maturity Date (as relevant) of that      Loan or, in the case of an overdue sum, the last day of an interest period      relating to that overdue sum, as the case may be or a Loan or any part      thereof not being prepaid in accordance with a notice of      prepayment. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24.3 | Break    Costs |
|------|----------------|

|   | 24.3.1 | The      Company must pay to each Lender its BreakCosts. |
|--------|--------|----------------------------------------------------------|

|   | 24.3.2 | Break      Costs are the amount (if any) determined by the relevant Lender by      which: |
|--------|--------|-------------------------------------------------------------------------------------------|

|   | 24.3.2.1 | the      interest which that Lender would have received for the period from the      date of receipt of any part of its share in a Loan or an overdue amount to      the last day of the applicable Term for that Loan or overdue amount if the      principal or overdue amount received had been paid on the last day of that      Term; |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 24.3.2.2 | the      amount which that Lender would be able to obtain by placing an amount      equal to the amount received by it on deposit with a leading bank in the      appropriate interbank market for a period starting on the Business Day      following receipt and ending on the last day of the applicable      Term. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 24.3.3 | Each      Lender must supply to the Facility Agent for the Company details of the      amount of any Break Costs claimed by it under this    Subclause. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25. | EXPENSES |
|-----|----------|

| 25.1 | Initial      costs |
|------|--------------------|

| 25.2 | Subsequent      costs |
|------|-----------------------|

|   | 25.2.1 | the      negotiation, preparation, printing and execution of any Finance Document      (other than a Transfer Certificate) executed after the date of this      Agreement; and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 25.2.2 | any      amendment, waiver or consent requested by or on behalf of the Company or      specifically allowed by thisAgreement. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------|

| 25.3 | Enforcement      costs |
|------|------------------------|

| 26. | AMENDMENTS AND      WAIVERS |
|-----|-----------------------------|

| 26.1 | Procedure |
|------|-----------|

|   | 26.1.1 | Except      as provided in this Clause, any term of the Finance Documents may be      amended or waived with the agreement of the Company and the Majority      Lenders.  The Facility Agent may effect, on behalf of any      Finance Party, an amendment or waiver allowed under this      Clause. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 26.1.2 | The      Facility Agent must promptly notify the other Parties of any amendment or      waiver effected by it under clause 26.1.1 above.  Any such      amendment or waiver is binding on all the  Parties. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.2 | Exceptions |
|------|------------|

|   | 26.2.1 | An      amendment or waiver which relatesto: |
|--------|--------|----------------------------------------------|

|   | 26.2.1.1 | the      definition of Majority      Lenders in Clause 1.1(Definitions); |
|--------|----------|-------------------------------------------------------------------------------|

|   | 26.2.1.2 | an      extension of the date of payment of any amount to a Lender under the      Finance Documents; |
|--------|----------|------------------------------------------------------------------------------------------------------|

|   | 26.2.1.3 | a      reduction in the Margin or a reduction in the amount of any payment of      principal, interest, fee or other amount payable to a Lender under the      Finance Documents; |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 26.2.1.4 | an      increase in, or an extension of, a Commitment or the Total      Commitments; |
|--------|----------|--------------------------------------------------------------------------------------|

|   | 26.2.1.5 | a      term of a Finance Document which expressly requires the consent of each      Lender; |
|--------|----------|---------------------------------------------------------------------------------------------|

|   | 26.2.1.6 | the      right of a Lender to assign or transfer its rights or obligations under      the Finance Documents; or |
|--------|----------|-----------------------------------------------------------------------------------------------------------------|

|   | 26.2.1.7 | this      Clause, |
|--------|----------|-------------------|

|   | 26.2.2 | An      amendment or waiver which relates to the rights or obligations of an      Administrative Party may only be made with the consent of that      Administrative Party. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.3 | Change of      currency |
|------|-------------------------|

| 26.4 | Waivers and remedies      cumulative |
|------|--------------------------------------|

|   | 26.4.1 | may      be exercised as often as necessary; |
|--------|--------|----------------------------------------------|

|   | 26.4.2 | are      cumulative and not exclusive of its rights under the general law;      and |
|--------|--------|-------------------------------------------------------------------------------------|

|   | 26.4.3 | may      be waived only in writing andspecifically. |
|--------|--------|-----------------------------------------------------|

| 27. | CHANGES TO THE      PARTIES |
|-----|-----------------------------|

| 27.1 | Assignments and transfers by      the Company |
|------|-----------------------------------------------|

| 27.2 | Assignments and transfers by      Lenders |
|------|-------------------------------------------|

|   | 27.2.1 | A      Lender (the Existing      Lender) may, subject to the following provisions of this Subclause,      at any time assign or transfer (including by way of novation) any of its      rights and obligations under this Agreement to any other person (the New    Lender). |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2.2 | Unless      the Company and the Facility Agent otherwise agree, a transfer of part of      a Commitment or rights and obligations under this Agreement by the      Existing Lender must be in a minimum amount of  £5,000,000. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2.3 | An      Existing Lender must consult with the Company for no more than five      Business Days before it may make an assignment or transfer unless the New      Lender is another Lender or an Affiliate of a Lender or an Event of      Default has occurred and isoutstanding. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2.4 | The      Facility Agent is not obliged to execute a Transfer Certificate until it      has completed all know your customer requirements to its      satisfaction.  The Facility Agent must promptly notify the      Existing Lender and the New Lender if there are any such      requirements. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2.5 | A      transfer of obligations will be effective only if  either: |
|--------|--------|-------------------------------------------------------------------|

|   | 27.2.5.1 | the      obligations are novated in accordance with the following provisions of      this Clause; or |
|--------|----------|------------------------------------------------------------------------------------------------------|

|   | 27.2.5.2 | the      New Lender confirms to the Facility Agent and the Company in form and      substance satisfactory to the Facility Agent that it is bound by the terms      of this Agreement as a Lender.  On the transfer becoming      effective in this manner the Existing Lender will be released from its      obligations under this Agreement to the extent that they are transferred      to the New Lender. |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2.6 | Unless      the Facility Agent otherwise agrees, the New Lender must pay to the      Facility Agent for its own account, on or before the date any assignment      or transfer occurs, a fee of£1,750. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2.7 | Any      reference in this Agreement to a Lender includes a New Lender but excludes      a Lender if no amount is or may be owed to or by it under this      Agreement. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27.3 | Procedure for transfer by way      of novations |
|------|-------------------------------------------------|

|   | 27.3.1 | In      this Subclause: |
|--------|--------|-------------------------|

|   | 27.3.1.1 | the      proposed Transfer Date specified in that Transfer Certificate;      and |
|--------|----------|----------------------------------------------------------------------------------|

|   | 27.3.1.2 | the      date on which the Facility Agent executes that Transfer      Certificate. |
|--------|----------|------------------------------------------------------------------------------------|

|   | 27.3.2 | A      novation is effected if: |
|--------|--------|---------------------------------|

|   | 27.3.2.1 | the      Existing Lender and the New Lender deliver to the Facility Agent a duly      completed Transfer Certificate; and |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------|

|   | 27.3.2.2 | the      Facility Agent executes it. |
|--------|----------|--------------------------------------|

|   | 27.3.3 | Each      Party (other than the Existing Lender and the New Lender) irrevocably      authorises the Facility Agent to execute any duly completed Transfer      Certificate on its behalf. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.3.4 | On      the Transfer Date: |
|--------|--------|----------------------------|

|   | 27.3.4.1 | the      New Lender will assume the rights and obligations of the Existing Lender      expressed to be the subject of the novation in the Transfer Certificate in      substitution for the Existing Lender;and |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.3.4.2 | the      Existing Lender will be released from those obligations and cease to have      those rights. |
|--------|----------|-------------------------------------------------------------------------------------------------------|

| 27.4 | Limitation of responsibility of      Existing Lender |
|------|------------------------------------------------------|

|   | 27.4.1 | Unless      expressly agreed to the contrary, an Existing Lender is not responsible to      a New Lender for the legality, validity, adequacy, accuracy, completeness      or performance of: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.4.1.1 | any      Finance Document or any other document;or |
|--------|----------|----------------------------------------------------|

|   | 27.4.1.2 | any      statement or information (whether written or oral) made in or supplied in      connection with any FinanceDocument, |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------|

|   | 27.4.2 | Each      New Lender confirms to the Existing Lender and the other Finance Parties      that it: |
|--------|--------|--------------------------------------------------------------------------------------------------|

|   | 27.4.2.1 | has      made, and will continue to make, its own independent appraisal of all      risks arising under or in connection with the Finance Documents (including      the financial condition and affairs of the Company and its related      entities and the nature and extent of any recourse against any Party or      its assets) in connection with its participation in this Agreement;      and |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.4.2.2 | has      not relied exclusively on any information supplied to it by the Existing      Lender in connection with any FinanceDocument. |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.4.3 | Nothing      in any Finance Document requires an Existing Lender  to: |
|--------|--------|-----------------------------------------------------------------------|

|   | 27.4.3.1 | accept      a re-transfer from a New Lender of any of the rights and obligations      assigned or transferred under this Clause;or |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.4.3.2 | support      any losses incurred by the New Lender by reason of the non-performance by      the Company of its obligations under any Finance Document or      otherwise. |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27.5 | Costs resulting from change of      Lender or Facility Office |
|------|---------------------------------------------------------------|

|   | 27.5.1 | a      Lender assigns or transfers any of its rights and obligations under the      Finance Documents or changes its Facility Office;  and |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.5.2 | as      a result of circumstances existing at the date the assignment, transfer or      change occurs, the Company would be obliged to pay a Tax Payment or an      Increased Cost, |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27.6 | Changes to the Reference      Banks |
|------|-------------------------------------|

|   | 27.6.1 | If      a Reference Bank (or, if a Reference Bank is not a Lender, the Lender of      which it is an Affiliate) ceases to be a Lender, the Facility Agent must      (in consultation with the Company) appoint another Lender or an Affiliate      of a Lender to replace that ReferenceBank. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.6.2 | If      a Reference Bank ceases to have a London office or novates or assigns all      its rights and obligations under this Agreement or if any Commitments of      any Reference Bank are cancelled or if Loans it has advanced are prepaid      it shall be replaced as a Reference Bank by such other Bank with an office      in London as the Facility Agent (after consultation with the Company)      shall designate by notice to the Company and the  Banks. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28. | Disclosure of      Information |
|-----|--------------------------------|

|   | 28.1.1 | Each      Finance Party must keep confidential any information supplied to it by or      on behalf of the Company in connection with the Finance Documents.      However, a Finance Party is entitled to disclose    information: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 28.1.1.1 | which      is publicly available, other than as a result of a breach by that Finance      Party of this Clause; |
|--------|----------|-----------------------------------------------------------------------------------------------------------------|

|   | 28.1.1.2 | in      connection with any legal or arbitration  proceedings; |
|--------|----------|----------------------------------------------------------------|

|   | 28.1.1.3 | if      required to do so under any law orregulation; |
|--------|----------|-------------------------------------------------------|

|   | 28.1.1.4 | to      a governmental, banking, taxation or other regulatory      authority; |
|--------|----------|-------------------------------------------------------------------------------|

|   | 28.1.1.5 | to      its professional advisers; |
|--------|----------|------------------------------------|

|   | 28.1.1.6 | to      the extent allowed under clause 28.1.2 below;or |
|--------|----------|---------------------------------------------------------|

|   | 28.1.1.7 | with      the agreement of the Company. |
|--------|----------|-----------------------------------------|

|   | 28.1.2 | A      Finance Party may disclose to an Affiliate or any person with whom it may      enter, or has entered into, any kind of transfer, participation or other      agreement in relation to this Agreement (a participant): |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 28.1.2.1 | a      copy of any Finance Document; and |
|--------|----------|------------------------------------------|

|   | 28.1.2.2 | any      information which that Finance Party has acquired under or in connection      with any Finance Document. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------|

| 29. | SET-OFF |
|-----|---------|

| 30. | PRO RATA      SHARING |
|-----|-----------------------|

| 30.1 | Redistribution |
|------|----------------|

|   | 30.1.1 | the      recovering Lender must, within three Business Days, supply details of the      recovery to the Facility Agent; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | 30.1.2 | the      Facility Agent must calculate whether the recovery is in excess of the      amount which the recovering Lender would have received if the recovery had      been received by the Facility Agent under this Agreement;    and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 30.1.3 | the      recovering Lender must pay to the Facility Agent an amount equal to the      excess (the redistribution). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

| 30.2 | Effect of      redistribution |
|------|-------------------------------|

|   | 30.2.1 | The      Facility Agent must treat a redistribution as if it were a payment by the      Company under this Agreement and distribute it among the Lenders, other      than the recovering Lender,accordingly. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 30.2.2 | When      the Facility Agent makes a distribution under clause 30.2.1 above, the      recovering Lender will be subrogated to the rights of the Finance Parties      which have shared in thatredistribution. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 30.2.3 | If      and to the extent that the recovering Lender is not able to rely on any      rights of subrogation under clause 30.2.2 above, the Company will owe the      recovering Lender a debt which is equal to the redistribution, immediately      payable and of the type originallydischarged. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 30.2.4 | If: |
|--------|--------|-----|

|   | 30.2.4.1 | a      recovering Lender must subsequently return a recovery, or an amount      measured by reference to a recovery, to the Company;  and |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | 30.2.4.2 | the      recovering Lender has paid a redistribution in relation to that      recovery, |
|--------|----------|-----------------------------------------------------------------------------------------|

| 30.3 | Exceptions |
|------|------------|

|   | 30.3.1 | it      would not, after the payment, have a valid claim against the Company in      the amount of the redistribution;or |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------|

|   | 30.3.2 | it      would be sharing with another Finance Party any amount which the      recovering Lender has received or recovered as a result of legal or      arbitration proceedings, where: |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 30.3.2.1 | the      recovering Lender notified the Facility Agent of those proceedings;      and |
|--------|----------|---------------------------------------------------------------------------------------|

|   | 30.3.2.2 | the      other Finance Party had an opportunity to participate in those proceedings      but did not do so or did not take separate legal or arbitration      proceedings as soon as reasonably practicable after receiving notice of      them. |
|--------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31. | SEVERABILITY |
|-----|--------------|

| 31.1 | If      a term of a Finance Document is or becomes illegal, invalid or      unenforceable in any jurisdiction, that shall not  affect: |
|------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.1.1 | the      legality, validity or enforceability in that jurisdiction of any other      term of the Finance Documents; or |
|--------|--------|------------------------------------------------------------------------------------------------------------------------|

|   | 31.1.2 | the      legality, validity or enforceability in other jurisdictions of that or any      other term of the FinanceDocuments. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------|

| 32. | COUNTERPARTS |
|-----|--------------|

| 33. | NOTICES |
|-----|---------|

| 33.1 | In      writing |
|------|-----------------|

|   | 33.1.1 | Any      communication in connection with a Finance Document must be in writing      and, unless otherwise stated, may begiven: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|

|   | 33.1.1.1 | in      person, by post, or fax or any other electronic communication approved by      the Facility Agent; or |
|--------|----------|---------------------------------------------------------------------------------------------------------------|

|   | 33.1.1.2 | if      between the Facility Agent and a Lender and the Facility Agent and the      Lender agree, by e-mail or other electronic  communication. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 33.1.2 | For      the purpose of the Finance Documents, an electronic communication will be      treated as being in writing. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------|

|   | 33.1.3 | Unless      it is agreed to the contrary, any consent or agreement required under a      Finance Document must be given inwriting. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

| 33.2 | Contact      details |
|------|----------------------|

|   | 33.2.1 | Except      as provided below, the contact details of each Party for all      communications in connection with the Finance Documents are those notified      by that Party for this purpose to the Facility Agent on or before the date      it becomes a Party. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 33.2.2 | The      contact details of the Company for this purpose  are: |
|--------|--------|----------------------------------------------------------------|

|   | Address:                                                              | Avonbank,      Feeder Road, Bristol, BS2 0TB   |
|--------|----------------------------------------------------------------------------|-----------------------------------------------------|
|   | Fax      number:                                                      | 01179      332108                              |
|   | Phone      number:                                                    | 0117      933 2354                             |
|   | E-mail:                                                               | jhunt9@westernpower.co.uk                      |
|   | Attention:                                                            | Julie      Hunt.                               |
|   | The      contact details of the Facility Agent for this purpose are:  |
|   | Address:                                                              | 8      Canada Square, London E14 5HQ           |
|   | Phone      number:                                                    | 020      7992 2036                             |
|   | Fax      number:                                                      | 020      7991 4348                             |
|   | Attention:                                                            | Ashley      Parrett, Corporate Trust and LoanAgency |

|   | 33.2.3 | Any      Party may change its contact details by giving five Business Days' notice      to the Facility Agent or (in the case of the Facility Agent) to the other      Parties. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 33.2.4 | Where      a Party nominates a particular department or officer to receive a      communication, a communication will not be effective if it fails to      specify that department or officer. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 33.3 | Effectiveness |
|------|---------------|

|   | 33.3.1 | Except      as provided below, any communication in connection with a Finance Document      will be deemed to be given asfollows: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------|

|   | 33.3.1.1 | if      delivered in person, at the time ofdelivery; |
|--------|----------|------------------------------------------------------|

|   | 33.3.1.2 | if      posted, five days after being deposited in the post, postage prepaid, in a      correctly addressed envelope; and |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------|

|   | 33.3.1.3 | if      by fax, when received in legibleform. |
|--------|----------|-----------------------------------------------|

|   | 33.3.2 | A      communication given under clause 33.3.1 above but received on a      non-working day or after business hours in the place of receipt will only      be deemed to be given on the next working day in that    place. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 33.3.3 | A      communication to the Facility Agent will only be effective on actual      receipt by it. |
|--------|--------|-------------------------------------------------------------------------------------------------|

| 33.4 | The    Company |
|------|----------------|

| 34. | LANGUAGE |
|-----|----------|

|   | 34.1.1 | Any      notice given in connection with a Finance Document must be in      English. |
|--------|--------|--------------------------------------------------------------------------------------|

|   | 34.1.2 | Any      other document provided in connection with a Finance Document must      be: |
|--------|--------|--------------------------------------------------------------------------------------|

|   | 34.1.2.1 | in      English; or |
|--------|----------|---------------------|

|   | 34.1.2.2 | (unless      the Facility Agent otherwise agrees) accompanied by a certified English      translation.  In this case, the English translation prevails      unless the document is a statutory or other official    document. |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 35. | GOVERNING      LAW |
|-----|--------------------|

| 36. | ENFORCEMENT |
|-----|-------------|

| 36.1 | Jurisdiction |
|------|--------------|

|   | 36.1.1 | The      English courts have exclusive jurisdiction to settle any dispute in      connection with any Finance Document including a dispute relating to any      non-contractual obligation arising out of or in connection with this      Agreement. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 36.1.2 | The      English courts      are the most appropriate and convenient courts to settle any such dispute      and the Company waives objection to those courts on the grounds of      inconvenient forum or otherwise in relation to proceedings in connection      with any Finance Document. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 36.1.3 | This      Clause is for the benefit of the Finance Parties only.  To the      extent allowed by law, a Finance Party maytake: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | 36.1.3.1 | proceedings      in any other court; and |
|--------|----------|------------------------------------------|

|   | 36.1.3.2 | concurrent      proceedings in any number ofjurisdictions. |
|--------|----------|------------------------------------------------------------|

----

| Name      of Original Lender                          |  Commitments  |
|------------------------------------------------------------|-------------------------|
| HSBC      Bank plc                                    |  £50,000,000  |
| Lloyds      TSB Bank plc                              |  £40,000,000  |
| Clydesdale      Bank PLC                              |  £40,000,000  |
| Alliance      & Leicester PLC                     |  £25,000,000  |
| Deutsche      Bank AG London Branch                   |  £25,000,000  |
| Bayerische      Landesbank London Branch              |  £20,000,000  |
| The      Governor and Company of The Bank of Ireland  |  £10,000,000  |

----

| 1. | A      certified copy of the constitutional documents of the    Company. |
|----|--------------------------------------------------------------------------|

| 2. | A      certified copy of a resolution of the board of directors or a committee of      the board of directors of the Company approving the terms of, and the      transactions contemplated by, the Finance  Documents. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | A      specimen of the signature of each person authorised on behalf of the      Company to execute or witness the execution of any Finance Document or to      sign or send any document or notice in connection with any Finance      Document. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | A      certificate of the Company (signed by a director) confirming that      borrowing the Total Commitments would not cause any borrowing limit      binding on the Company to beexceeded. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | A      legal opinion of Eversheds LLP, legal advisers to the Mandated Lead      Arranger and the Facility Agent addressed to the Finance      Parties. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | Evidence      that all fees and expenses then due and payable from the Company under      this Agreement have been or will be paid no later than the first      Utilisation Date. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | The      Original Financial Statements. |
|----|-----------------------------------------|

| 8. | Evidence      that the Existing Facility Agreement has expired or will be prepaid and      cancelled in full on or by the first Utilisation  Date. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | The      Information Package. |
|----|-------------------------------|

| 10. | A      copy of any other Authorisation or other document, opinion or assurance      which the Facility Agent notifies the Company is necessary or desirable in      connection with the entry into and performance of the transactions      contemplated by any Finance Document or for the validity and      enforceability of any FinanceDocument. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| To:From:Date: |  HSBC BANK PLC as Facility      Agent[                               ][                               ] |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | We      confirm that each condition precedent under the Agreement which must be      satisfied on the date of this Request is so  satisfied. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------|

| 5 | We      confirm that as at [relevant testing date]      Consolidated EBITDA was      [            ]      and Interest Payable was      [           ];      therefore, the ratio of Consolidated EBITDA to Interest Payable was [         ] to 1. |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | We      confirm that as at [relevant testing date] Regulatory Asset Base      was              [ | ]      and Total Net Debt was [ | ];      therefore, Total Net Debt does not exceed an amount equal to 85% of the      Regulatory Asset Base. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------|-------------------------------------------------------------------------------------------------------------|

----

| 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 Term (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: |
|--|-----------------|--------------------------------------|

|   | AB      + C(B - D) +      E      x      0.01                   100 - (A +      C)    |  Per cent. per      annum |   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|--------|

|  | (b)   | in      relation to a Loan in any currency other than  sterling: |
|--|-----------------|------------------------------------------------------------------|

|   | E      x      0.01    300    |  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 ratio requirements.                                                                                                                                                                                                                                                                                                                                                                                 |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 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 clause 9.3.1 (Interest on overdue      amounts)) payable for the relevant Term 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 FSA Supervision 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);  |
|   | (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | "Tariff Base" has the      meaning given to it in, and will be calculated in accordance with, the      Fees Rules; and  |
|   | (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | "Unpaid Sum" means any      sum due and payable but unpaid by the   Company under the      Finance Documents.  |
| 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 decimal places.                                                                                                                                                                                                                                                                                                    |
| 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:                                                                                                                                                                                                                                                                                                                                                                     |
|   | (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | the      jurisdiction of its Facility Office; and  |
|   | (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | any      other information that the Facility Agent may reasonably require for such      purpose.  |
|   | Each      Lender shall promptly notify the Facility Agent of any change to the      information provided by it pursuant to this paragraph.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 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      Company 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 allParties.                                   |

----

| To:   | HSBC BANK PLC as Facility      Agent                                                                                                                                               |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| From: | [THE      EXISTING LENDER] (the Existing Lender) and      [THE NEW LENDER] (the New      Lender)                                                                                        |
| Date: | [                               ] |

| 1.   | The      Existing Lender transfers by novation to the New Lender the Existing      Lender's rights and obligations referred to in the Schedule below in      accordance with the terms of theAgreement. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | The      proposed Transfer Date is  [    ]. |
|----------------|-----------------------------------------------------------------|

| 3.   | The      administrative details of the New Lender for the purposes of the Agreement      are set out in the Schedule. |
|----------------|-----------------------------------------------------------------------------------------------------------------------|

| 4.   | This      Transfer Certificate and any non-contractual obligations arising out of or      in connection with it are governed by English  law. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| 1.   | We      refer to the Agreement.  This is a Compliance      Certificate. |
|----------------|-----------------------------------------------------------------------------------|

| 2.   | We      confirm that as at [relevant testing date],      Consolidated EBITDA was      [              ]      and Interest Payable was [], therefore the ratio of Consolidated EBITDA to      Interest Payable was [] to 1. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | We      confirm that as at [relevant testing date], Regulatory Asset Base was      [      ] and Total Net Debt was      [        ]; therefore Total Net      Debt does not exceed 85% of the Regulatory Asset  Base. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | We      set out below calculations establishing the figures in paragraph 2      above: |
|----------------|----------------------------------------------------------------------------------------|

| 5.   | We      confirm that the following companies were Material Subsidiaries at      [relevant testing date]: |
|----------------|----------------------------------------------------------------------------------------------------------|

| 6.   | [We      confirm that no Default is outstanding as at [relevant testing date].]1  |
|----------------|----------------------------------------------------------------------------------------|

| 1 | If this statement cannot be made,      the certificate should identify any Default that is outstanding and the      steps, if any, being taken to remedyit. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| By:       | Daniel      Oosthuizen                        |
|----------------|----------------------------------------------------|
| Address:  | Avonbank,      Feeder Road, Bristol, BS2 0TB  |
| Fax:      | 01179      332108                             |

| By:       | John      Haire                       |
|----------------|--------------------------------------------|
| Address:  | 8      Canada Square, London E14 5HQ  |
| Fax:      | 020      7991 4348                    |

| By:       | Somchart      Sucharitkul                                                  |
|----------------|---------------------------------------------------------------------------------|
| Address:  | Wholesale      Loans Servicing, Bank House, Wine Street, Bristol, BS1 2AN  |
| Fax:      | 0207      158 3204                                                         |

| By:       | Alan      Davis                                                                                   |
|----------------|--------------------------------------------------------------------------------------------------------|
| Address:  | Corporate      & Structured Finance, 5th Floor, 33 Gracechurch Street, London, EC3V      0BT  |
| Fax:      | 020      7929 6152                                                                                |

| By:       | John      Haire                       |
|----------------|--------------------------------------------|
| Address:  | 8      Canada Square, London E14 5HQ  |
| Fax:      | 020      7991 4348                    |

| By:       | John      Haire                                                                                |
|----------------|-----------------------------------------------------------------------------------------------------|
| Address:  | Process      Manager, Loans Administration, 24th Floor, 8 Canada Square, London, E14      5HQ  |
| Fax:      | 020      7992 4680                                                                             |

| By:       | Somchart      Sucharitkul                                                  |
|----------------|---------------------------------------------------------------------------------|
| Address:  | Wholesale      Loans Servicing, Bank House, Wine Street, Bristol, BS1 2AN  |
| Fax:      | 020      7158 3204                                                         |

| By:       | Alan      Davis                                                                                  |
|----------------|-------------------------------------------------------------------------------------------------------|
| Address:  | Corporate      & Structured Finance, 5th Floor, 33 Gracechurch Street, London,EC3V      0BT  |
| Fax:      | 020      7929 6152                                                                               |

| By:       | Michael      Starmer-Smith      Alastair      Macdonald  |
|----------------|---------------------------------------------------------------------------------------------|
| Address:  | Great      Winchester house, 1 Great Winchester Street, London, EC2N 2DB               |
| Fax:      | 020      7545 4735                                                                     |

| By:       | T.J.      Yeoman                                                                   |
|----------------|-----------------------------------------------------------------------------------------|
| Address:  | FAO      Corporate Administration Manager, 298 Deansgate, Manchester, M3      4HH  |
| Fax       | 0161      953 3517                                                                 |

| By:   | Chris      Dowling    Brendan Gilmore     |
|------------|--------------------------------------------------------------------|
| Address:   |  Bow      Bells House, 1 Bread Street, London, EC4M 9BE  |
| Fax:  | 020      7248 6076                                            |

| By:       | Wolfgang      Kottmann    Avrille Palha          |
|----------------|---------------------------------------------------------------------------|
| Address:  | Bayern      LB London Branch, 13/14 Appold Street, London, EC2A 2NB  |
| Fax:      | 020      7955 5129                                                   |