Document:

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                                                                EXHIBIT 4.29

                                 PROMISSORY NOTE

US $82,305,000                                                   April 22, 2001

                  FOR VALUE RECEIVED, WORLDWIDE FIBER HOLDINGS LTD.,
("Borrower"), hereby promises to pay to 360FINANCE LTD. ("Holder") at 1500 -
1066 West Hastings Street, Vancouver, British Columbia, or such other place as
the Holder may notify the Borrower, the principal amount of EIGHTY TWO MILLION
THREE HUNDRED FIVE THOUSAND ($82,305,000), as adjusted from time to time in
accordance with the terms of this Promissory Note (the "Principal Amount"), upon
the earlier of December 22, 2005, and the occurrence of an "Event of Default",
as hereafter defined, together with interest as provided below.

                  This Promissory Note shall bear interest on the Principal
Amount from time to time outstanding hereunder at the rate of 6.20 percent per
annum compounded annually. Interest shall be calculated on the basis of a
365-day year for the actual number of days elapsed and shall accrue from
December 22, 2000 to the date of payment. Interest accrued but unpaid during any
Yearly Period shall become part of the Principal Amount effective at 11:59 P.M.
E.S.T. on the last day of such Yearly Period. As used herein, the term "Yearly
Period" means each successive 12 month period, beginning on December 22, 2000
and ending on December 22, 2001 and continuing to each successive 12 month
period thereafter, during which the Principal Amount or any part thereof remains
outstanding.

                  All payments hereunder shall be made in immediately available
funds in lawful money of the United States of America.

                  This Promissory Note may be prepaid in whole or in part at any
time without premium or penalty.

                  As used herein "Event of Default" has the meaning given
thereto in the General Security Agreement (the "GSA") dated as of April 22, 2001
made by the Borrower in favour of the Holder as security for, inter alia, the
indebtedness and liability of the Borrower to the Holder under this Promissory
Note. The obligations of the Borrower under this Promissory Note are subject to
the terms of the GSA and the Agreement for Transfer of Put Obligations and GBM
Note dated for reference April 22, 2001 among the Holder, the Borrower and
360networks inc..

                  Upon the occurrence of an Event of Default, the Holder shall
have all rights and remedies provided in the GSA.

                  This Promissory Note shall be governed by, and construed in
accordance with, the laws of British Columbia, without giving effect to the
principles of conflict of laws thereof.

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                  This Promissory Note is not negotiable but is assignable by
the Holder subject to the equities between the Borrower and the Holder,
including payments of principal and interest from time to time outstanding
hereunder.

                  Subject to the foregoing, this Promissory Note shall be
binding upon the successors and assigns of the Borrower and shall enure to the
benefit of the Holder and its successors and assigns.

                                       WORLDWIDE FIBER HOLDINGS LTD.

                                       Per:

                                       Signed
                                       _______________________________________
                                       Signature

                                       _______________________________________
                                       Name

                                       _______________________________________
                                       Title

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                                                                EXHIBIT 4.30

              AGREEMENT FOR TRANSFER OF PUT OBLIGATION AND GBM NOTE

THIS AGREEMENT dated for reference the 22nd day of April 2001

AMONG:

                  360FINANCE LTD.

                  ("360finance")

AND:

                  WORLDWIDE FIBER HOLDINGS LTD.

                  ("WFHL")

AND:

                  360NETWORKS INC.

                  ("360")

WHEREAS:

A. 360 currently employs Gregory B. Maffei ("GBM") as its Chief Executive
Officer. In connection with GBM's employment, GBM purchased from 360 62,000,000
shares of 360 (the "Purchased Shares") pursuant to a stock purchase agreement
(the "Stock Purchase Agreement") made as of December 22, 1999 by and between 360
(then called Worldwide Fiber Inc.) and GBM. To finance GBM's purchase of the
Purchased Shares, he delivered the GBM Note.

B. Pursuant to Section 8 of the Stock Purchase Agreement, GBM was granted the
Put (as defined in Section 8 of the Stock Purchase Agreement), whereby GBM has
the right to require 360 to purchase certain Purchased Shares at their fair
market value, as determined pursuant to the Stock Purchase Agreement. Prior to
any of the transactions contemplated hereby, GBM had informed 360 that he may be
compelled to exercise the Put to reduce the risk to him of his recourse
obligations under the GBM Note.

C. 360 does not currently have a right to set-off its obligations under the Put
against the GBM Note. Further, the Put is not currently delegable to WFHL under
present circumstances. If GBM were to exercise the Put, it could therefore
adversely affect 360's liquidity and capital resources, cause compliance issues
under 360's existing credit facilities, and be perceived adversely by the public
investment community. Accordingly, neither WFHL nor 360 believe it would be in
its best interests for GBM to exercise the Put.

D. 360
and WFHL wish to avoid the risks described in recital C and, to do so, they have
requested GBM's cooperation and agreement to facilitate a transaction whereby
WFHL would assume 360's obligation for GBM's put rights contained in the Stock
Purchase Agreement and

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clarify and amend WFHL's put obligations to GBM in the form of the GBM Put (as
defined in the Master Agreement) provided in the Master Agreement dated April
20, 2001 (the "Master Agreement") among WFHL, GBM and 360 and GBM would agree to
cancel his put rights against 360 and 360 would cause the GBM Note to be sold to
WFHL in exchange for a recourse promissory note made by WFHL in favour of
360finance in an amount equal to the principal and interest owing under the GBM
Note. GBM has agreed to release 360 from its obligations with respect to the Put
only in the event that WFHL, 360 and GBM enter into the Master Agreement,
whereby, among other things, WFHL clarifies its obligations in the form of the
GBM Put.

E. WFHL would not be willing to purchase the GBM Note unless GBM agrees to
increase the interest rate charged on the GBM Note by 0.1%, and would not be
willing to deliver the GBM Put unless GBM agrees to forbear his rights to
exercise the GBM Put for a period of up to 9 months on the terms and conditions
set forth in the Forbearance Agreement (as defined in the Master Agreement) and
GBM agrees to grant to WFHL certain set-off rights. GBM is willing to enter into
the Forbearance Agreement and increase the interest rate on his note, and
thereby facilitate the sale of the GBM Note to WFHL and 360's delegation of its
put obligations to WFHL, on the condition that the GBM Note be amended to, among
other things, make it non-recourse (except to the Shares(as defined in the
Master Agreement)) and to grant GBM certain set-off rights, and the further
condition that the parties execute this Agreement.

F. After giving effect to the transactions contemplated by this Agreement and
the documents referenced herein, GBM will be indebted to WFHL in the amount of
$77,500,000, plus accrued but unpaid interest, as evidenced by the Revised GBM
Note (as defined in the Master Agreement) issued in substitution for the GBM
Note.

G. In consideration of revisions which are incorporated in the Revised GBM Note
and the provision by WFHL of the GBM Put, GBM has agreed to pledge the Shares,
and deliver possession of certificates evidencing the Shares, to WFHL to be
dealt with as provided in the Master Agreement.

H. 360 shall retain the Repurchase Option (as defined in the Stock Purchase
Agreement) to repurchase some of GBM's Shares, which may be exercised pursuant
to the Stock Purchase Agreement.

I. The Transactions described in Recitals C through G are occurring concurrently
with the execution of this Agreement and each such transaction is dependent upon
a concurrent occurrence of the others.

J. 360finance has agreed to transfer the GBM Note to WFHL, and WFHL has agreed
to acquire the GBM Note, on the terms specified in this Agreement.

IN CONSIDERATION of the mutual agreements in this Agreement, which consideration
is acknowledged by the parties to be fully received and sufficient, and subject
to the terms and conditions specified in this Agreement, the parties agree as
follows:

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                                   ARTICLE 1
                                  DEFINITIONS

1.1      DEFINITIONS

In this Agreement, including the recitals and the schedules, the following words
and expressions have the following meanings unless the context otherwise
requires:

"Encumbrance" means, whether or not registered or registrable or recorded or
recordable, and regardless how created or arising, a mortgage, assignment of
book accounts, lien, encumbrance, charge, security interest, hypothec or pledge,
whether fixed or floating, an option or other right to acquire any interest in,
or any other encumbrance of whatsoever nature and kind or any agreement to
create, or right capable of becoming, any of the foregoing.

"GBM" has the meaning provided in the recitals.

"GBM Note" means that certain promissory note in the principal amount of
US$77,500,000 dated December 22, 1999 and issued by GBM to 360finance.

"Master Agreement" has the meaning provided in the recitals.

"Person" means an individual, partnership, corporation (including a business
trust), joint stock company, trust, unincorporated association, joint venture or
other entity or a foreign state or political subdivision thereof or any agency
of such state or subdivision.

"Put" has the meaning specified in Section 8 of the Stock Purchase Agreement.

"Put Assignment and Assumption Agreement" means a Put Assignment and Assumption
Agreement dated as of December 22, 1999, between WFHL and 360.

"Shares" has the meaning provided in the Master Agreement.

"Stock Purchase Agreement" has the meaning provided in the recitals.

"WFHL Note" means a Promissory Note in the form attached as Schedule "B".

1.2      SCHEDULES

The following schedules are attached to and form part of this Agreement:

            SCHEDULE                           TITLE

               A                               Copy of GBM Note
               B                               Copy of Stock Purchase Agreement
               C                               Form of WFHL Note

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                                   ARTICLE 2
                              TRANSFER OF GBM NOTE

2.1      PURCHASE AND SALE

Based on representations and warranties contained in this Agreement 360finance
agrees to sell, assign and transfer to WFHL and does hereby sell, assign and
transfer to WFHL, and WFHL agrees to purchase from 360finance and hereby accepts
the sale, assignment and transfer from 360finance of the GBM Note, without
recourse, effective on the date of this Agreement, free and clear of all
Encumbrances, for the purchase price set out in Section 2.2 and in accordance
with and subject to the terms and conditions set forth in this Agreement.

2.2      PURCHASE PRICE

The purchase price for the GBM Note is US$83,982,669.60. The purchase price
shall be satisfied by the delivery of the WFHL Note and related security
documents, delivered concurrently with the WFHL Note, by WFHL to 360finance
simultaneously with the execution of this Agreement.

2.3      SECURITY

The obligations of WFHL under the WFHL Note shall be secured inter alia by a
general security agreement by WFHL to 360finance and by a subordination
agreement dated for reference April 20, 2001, between 360finance and Ledcor Inc.
of WFHL's indebtedness to Ledcor Inc.

                                   ARTICLE 3
                                ASSIGNMENT OF PUT

3.1      ASSIGNMENT

Based on the representations and warranties contained in this Agreement:

(a)      360 hereby agrees to assign and transfer to WFHL and does hereby assign
         and transfer to WFHL, and WFHL agrees to accept such assignment and
         transfer from 360 of, all of the obligations of 360 under the Put
         absolutely from and effective as of the date of this Agreement. From
         and since the date of this Agreement, WFHL is bound by and will observe
         and perform the obligations of 360 under the Put as if WFHL has been
         originally named as a party to the Stock Purchase Agreement. For
         greater certainty: (a) unless otherwise agreed between 360finance and
         WFHL from time to time or otherwise as contemplated under the Master
         Agreement, WFHL shall be entitled and required to acquire all shares
         sold by GBM pursuant to any exercise of the Put by GBM; and (b) except
         for the Put, WFHL is not and will not be bound by any of the
         obligations of 360 under the Stock Purchase Agreement.

(b)      360 and WFHL hereby agree that (i) the Put Assignment and Assumption
         Agreement is hereby terminated as of the date hereof and is of no
         further force or effect; and following and as a result of such
         termination, (ii) WFHL has no obligation or liability to 360 with
         respect to any provision of the Put Assignment and Assumption Agreement
         or any other

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         related agreement or instrument and 360 has no obligation or liability
         to WFHL with respect to any provision of the Put Assignment and
         Assumption Agreement or any other related agreement or instrument.

(c)      360, on its own behalf and on behalf of its predecessors, successors
         and assigns, hereby releases, remises and forever discharges WFHL for
         itself, and its predecessors, successors, assigns, employees, officers,
         directors, agents, attorneys, shareholders and affiliates, from and
         against any and all claims, crossclaims, third party claims,
         counterclaims, contribution claims, debts, demands, actions, promises,
         judgments, trespasses, executions, causes of action, suits, accounts,
         covenants, sums of money, dues, reckonings, bonds, bills, lines,
         attachments, trustee process, contracts, controversies, agreements,
         promises, damages, and all other claims of every kind and nature in
         law, equity, arbitration, or other forum, whether absolute or
         contingent, direct or indirect, known or unknown, relating to, or
         otherwise arising out of, in any manner, directly or indirectly, the
         Put Assignment and Assumption Agreement or any other agreement or
         instrument (other than this Agreement and the WFHL Note) entered into
         in connection therewith or any transaction contemplated thereby.

(d)      For greater certainty, WFHL hereby acknowledges that although its
         consideration for the assumption of the obligations set out in this
         section includes certain consideration provided by third parties
         (including by virtue of the Forbearance Agreement and the Master
         Agreement), its obligations under this Agreement are fully binding and
         in no way subject to diminution only by virtue of any failure of the
         consideration provided by any third party.

                                   ARTICLE 4
                     OPTION TO ACQUIRE PUT UNVESTED SHARES

4.1      OPTION TO ACQUIRE PUT UNVESTED SHARES

If the Repurchase Option (as defined in the Stock Purchase Agreement) has not
then expired, then subject to compliance with the requirements of any stock
exchanges on which such securities are then listed and to compliance with
applicable laws, 360 shall have the option to acquire all or any of the Unvested
Shares from time to time acquired by WFHL pursuant to the GBM Put (as defined in
the Master Agreement) for a purchase price per Unvested Share equal to the
purchase price paid by WFHL to acquire such Unvested Share from GBM. The option
may be exercised with respect to an Unvested Share at any time during the 90 day
period (the "Option Period") following the later of (i) the closing of the
acquisition by WFHL of the Unvested Share pursuant to the GBM Put and (ii) the
receipt by 360 of notice in writing from WFHL providing reasonable details of
such acquisition, including the number of Unvested Shares acquired, the date of
acquisition and the purchase price per Unvested Share acquired. The option
contemplated hereby shall, with respect to any Unvested Share, terminate and be
of no further force and effect upon the expiry of the Option Period with respect
to that Unvested Share. The option shall be exercisable by notice in writing
given by 360 to WFHL before the expiry of the applicable Option Period. The
closing of the sale shall take place on the fifth business day following the
delivery of the notice exercising the option. At the closing, unless otherwise
agreed by 360 and WFHL, 360 shall deliver to WFHL a bank draft or certified
cheque in the

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amount of the aggregate purchase price for the Unvested Shares so acquired and
WFHL shall deliver to 360 share certificates in the name of 360 or its nominee,
and all such documents and instruments as may be necessary to effectively
transfer title to such shares to 360 or its nominee, free and clear of all
Encumbrances.

                                   ARTICLE 5
                         REPRESENTATIONS AND WARRANTIES

5.1      WARRANTIES AND REPRESENTATIONS OF 360FINANCE

360finance warrants and represents to and covenants with WFHL, with the intent
that WFHL will rely thereon in entering into this Agreement and in concluding
the transactions contemplated in this Agreement, that, as of the date of this
Agreement:

(a)      STATUS. 360finance is a corporation duly incorporated, validly existing
         and in good corporate standing under the laws of the jurisdiction of
         its incorporation, amalgamation or continuation with respect to all
         filings required under any applicable legislation.

(b)      AUTHORITY. 360finance has all necessary corporate capacity, power, and
         authority to enter into this Agreement and to carry out the terms of
         this Agreement.

(c)      RESIDENCY. 360finance is not a non-resident of Canada within the
         meaning of the INCOME TAX ACT (Canada).

(d)      GBM NOTE. There is now due and owing under the GBM Note the principal
         amount of US$82,305,000 (including capitalized interest to December 22,
         2000) and accrued interest from December 22, 2000 to the date hereof in
         the amount of US$1,677,669.60. On the transfer of the GBM Note, WFHL
         will have good title to and possession of the GBM Note, free and clear
         of all Encumbrances.

(e)      LITIGATION, ETC. To the best of the knowledge of 360finance, there are
         no actions, suits, proceedings, claims or investigations outstanding or
         pending or threatened against or affecting 360finance or 360 that could
         materially adversely affect the ability of 360finance or 360 to perform
         any of its obligations under this Agreement, and the execution or
         performance of this Agreement by 360finance or 360 will not give rise
         to a right on the part of any governmental authority to take any action
         that could materially adversely affect its ability to perform any of
         its obligations under this Agreement.

(f)      COMPLIANCE WITH CONSTATING DOCUMENTS, AGREEMENTS AND LAWS. The making
         of this Agreement, the completion of the transactions contemplated by
         this Agreement and the performance of and compliance with the terms of
         this Agreement by 360finance does not and will not:

         (i)      conflict with or result in a breach of or violate any of the
                  terms, conditions, or provisions of the constating documents
                  of 360finance; or

         (ii)     conflict with or result in a breach of or violate any of the
                  terms, conditions or provisions of any law, judgment, order,
                  injunction, decree, regulation or ruling of

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                  any governmental authority, to which 360 or 360finance is
                  subject, or constitute or result in a breach of or a default
                  under any agreement, contract or commitment to which 360 or
                  360finance is a party or by which any of their respective
                  properties or assets are bound.

(G)      VALID, BINDING AND ENFORCEABLE. This Agreement is a valid and binding
         agreement and obligation, enforceable against 360finance in accordance
         with its terms, subject to bankruptcy, insolvency, reorganization,
         arrangement, winding-up, moratorium, and similar laws of general
         application affecting the enforcement of creditors' rights generally,
         and subject to general equitable principles, including the fact that
         the availability of equitable remedies, such as injunctive relief or
         specific performance, is in the discretion of the court.

(H)      NO BROKER. 360finance has carried on all negotiations relating to this
         Agreement and the transactions contemplated in this Agreement directly
         and without intervention on its behalf of any other party in such
         manner as to give rise to any valid claim against WFHL for a brokerage
         commission, finder's fee or other like payment.

5.2      WARRANTIES AND REPRESENTATIONS OF WFHL

WFHL warrants and represents to and covenants with 360finance, with the intent
that 360finance will rely thereon in entering into this Agreement and in
concluding the transactions contemplated in this Agreement, that, as of the date
of this Agreement:

(a)      CORPORATE STATUS. WFHL is a corporation duly incorporated, validly
         existing and in good corporate standing under the laws of the
         jurisdiction of its incorporation, amalgamation or continuation with
         respect to all filings required under applicable legislation.

(b)      AUTHORITY. WFHL has all necessary corporate capacity, power and
         authority to enter into and to execute and deliver this Agreement and
         the WFHL Note and to carry out the terms of this Agreement and the WFHL
         Note.

(c)      RESIDENCY. WFHL is not a non-resident of Canada within the meaning of
         the INCOME TAX ACT (Canada).

(d)      LITIGATION, ETC. To the best of the knowledge of WFHL, there are no
         actions, suits, judgments, proceedings, claims or investigations
         outstanding or pending or threatened against or affecting WFHL that
         could materially adversely affect its ability to perform any of its
         obligations under this Agreement or the WFHL Note, and the execution or
         performance of this Agreement and the WFHL Note by WFHL will not give
         rise to a right on the part of any governmental authority to take any
         action that could materially adversely affect its ability to perform
         any of its obligations under this Agreement or the WFHL Note.

(e)      COMPLIANCE WITH CONSTATING DOCUMENTS, AGREEMENTS AND LAWS. The making
         of this Agreement or the WFHL Note, the completion of the transactions
         contemplated by this Agreement and the performance of and compliance
         with the terms of this Agreement and the WFHL Note by WFHL does not and
         will not:

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         (i)      conflict with or result in a breach of or violate any of the
                  terms, conditions, or provisions of the constating documents
                  of WFHL; or

         (ii)     conflict with or result in a breach of or violate any of the
                  terms, conditions or provisions of any law, judgment, order,
                  injunction, decree, regulation or ruling of any governmental
                  authority, to which WFHL is subject, or constitute or result
                  in a default under any agreement, contract or commitment to
                  which WFHL is a party or by which its properties or assets are
                  bound.

(f)      VALID, BINDING AND ENFORCEABLE. Each of this Agreement and the WFHL
         Note is a valid and binding agreement and obligation, enforceable
         against WFHL in accordance with its terms, subject to bankruptcy,
         insolvency, reorganization, arrangement, winding-up, moratorium, and
         similar laws of general application affecting the enforcement of
         creditors' rights generally, and subject to general equitable
         principles, including the fact that the availability of equitable
         remedies, such as injunctive relief or specific performance, is in the
         discretion of the court.

(g)      NO BROKER. WFHL has carried on all negotiations relating to this
         Agreement and the transactions contemplated in this Agreement directly
         and without intervention on its behalf of any other party in such
         manner as to give rise to any valid claim against 360finance for a
         brokerage commission, finder's fee or other like payment.

5.3      WARRANTIES AND REPRESENTATIONS OF 360

360 warrants and represents to and covenants with WFHL, with the intent that
WFHL will rely thereon in entering into this Agreement and in concluding the
transactions contemplated in this Agreement, that, as of the date of this
Agreement:

(a)      STATUS. 360 is a corporation duly incorporated, validly existing and in
         good corporate standing under the laws of the jurisdiction of its
         incorporation, amalgamation or continuation with respect to all filings
         required under any applicable legislation.

(B)      AUTHORITY. 360 has all necessary corporate capacity, power, and
         authority to enter into this Agreement and to carry out the terms of
         this Agreement.

(C)      RESIDENCY. 360 is not a non-resident of Canada within the meaning of
         the INCOME TAX ACT (Canada).

(D)      PUT. The Put is in full force and effect, has not been amended, and the
         Put has not been exercised by GBM. 360 is not entitled to require WFHL
         to assume the Put at this time as a result of Section 6 of the Put
         Assignment and Assumption Agreement.

(E)      LITIGATION, ETC. To the best of the knowledge of 360, there are no
         actions, suits, proceedings, claims or investigations outstanding or
         pending or threatened against or affecting 360 or 360finance that could
         materially adversely affect the ability of 360 or 360finance to perform
         any of its obligations under this Agreement, and the execution or
         performance of this Agreement by 360 will not give rise to a right on
         the part of any

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         governmental authority to take any action that could materially
         adversely affect its ability to perform any of its obligations under
         this Agreement.

(f)      COMPLIANCE WITH CONSTATING DOCUMENTS, AGREEMENTS AND LAWS. The making
         of this Agreement, the completion of the transactions contemplated by
         this Agreement and the performance of and compliance with the terms of
         this Agreement by 360 does not and will not:

         (i)      conflict with or result in a breach of or violate any of the
                  terms, conditions, or provisions of the constating documents
                  of 360; or

         (ii)     conflict with or result in a breach of or violate any of the
                  terms, conditions or provisions of any law, judgment, order,
                  injunction, decree, regulation or ruling of any governmental
                  authority, to which 360 or 360finance is subject, or
                  constitute or result in a breach of or a default under any
                  agreement, contract or commitment to which 360 or 360finance
                  is a party or by which any of their respective properties or
                  assets are bound.

(g)      VALID, BINDING AND ENFORCEABLE. This Agreement is a valid and binding
         agreement and obligation, enforceable against 360 in accordance with
         its terms, subject to bankruptcy, insolvency, reorganization,
         arrangement, winding-up, moratorium, and similar laws of general
         application affecting the enforcement of creditors' rights generally,
         and subject to general equitable principles, including the fact that
         the availability of equitable remedies, such as injunctive relief or
         specific performance, is in the discretion of the court.

(H)      NO BROKER. 360 has carried on all negotiations relating to this
         Agreement and the transactions contemplated in this Agreement directly
         and without intervention on its behalf of any other party in such
         manner as to give rise to any valid claim against WFHL for a brokerage
         commission, finder's fee or other like payment.

(I)      360FINANCE. The representations and warranties of 360finance in Section
         3.1 are true and correct in all respects.

5.4      INDEMNITY

360 and 360finance will jointly and severally indemnify and save harmless WFHL
from and against any and all losses, claims, damages, liabilities and expenses
incurred or suffered by WFHL by reason, resulting from or in connection with,
any failure of WFHL to have good title to the GBM Note, free and clear of all
Encumbrances. For the purposes of this Agreement, the existence of any
Encumbrance against, or defect in, the title acquired by WFHL in the GBM Note
shall be deemed to be a loss suffered by WFHL on the date of this Agreement.

5.5      SETOFF

Notwithstanding any other provision of this Agreement, WFHL shall have the right
(but not the obligation), at its sole discretion, to discharge amounts owed to
360finance under the WFHL Note, up to the full amount of principal and interest
outstanding from time to time under the WFHL Note, by setting off any amount
payable by 360 or 360finance to WFHL under Section

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5.4 against the indebtedness of WFHL under the WFHL Note and thereby reducing
the indebtedness of WFHL under the WFHL Note by the amount so set off.

                                   ARTICLE 6
                                     GENERAL

6.1      GOVERNING LAW AND ATTORNMENT

This Agreement will be governed by and construed in accordance with the
substantive laws of British Columbia and the federal laws of Canada applicable
in British Columbia, without regard to the conflict of law rules of British
Columbia. The parties irrevocably submit to and accept generally and
unconditionally the exclusive jurisdiction of the courts and appellate courts of
British Columbia with respect to any legal action or proceeding which may be
brought at any time relating in any way to this Agreement. Each of the parties
irrevocably waives any objection it may now or in the future have to the venue
of any such action or proceeding, and any claim it may now or in the future have
that any such action or proceeding has been brought in an inconvenient forum.

6.2      NO SETOFF

Subject to sections 5.4 and 5.5 the obligations and responsibilities of WFHL
pursuant to this Agreement and the WFHL Note, including the obligations to pay
all amounts owing under this Agreement and the WFHL Note, are absolute and
unconditional in all circumstances and WFHL will pay all such amounts without
deduction regardless of any claim in the nature of setoff, abatement,
compensation or any other deduction whatsoever which may be raised by WFHL.

6.3      TIME OF THE ESSENCE OF THE AGREEMENT

Unless otherwise specifically provided in this Agreement, time will be of the
essence of this Agreement and of the transactions contemplated by this
Agreement.

6.4      REMEDIES NOT EXCLUSIVE

Any remedies provided to the parties under this Agreement are cumulative and not
exclusive to each other, and any such remedy will not be deemed or construed to
affect any right which any of the parties is entitled to seek at law, in equity
or by statute.

6.5      NOTICES

Any notice, direction, request or other communication required or contemplated
by any provision of this Agreement will be given in writing and will be given by
delivering or faxing the same to the parties as follows:

(a)      To 360finance at:

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         360finance ltd.
         Suite 1500 - 1066 West Hastings Street
         Vancouver, B.C.  V6E 3X1

         Attention:        Secretary
         Fax No.:          (604) 648-7747
(b)      To WFHL at:

         Worldwide Fiber Holdings Ltd

         Suite 1000 - 1066 West Hastings Street
         Vancouver, B.C.  V6E 3X1

         Attention:        Vice President, Finance
         Fax No.:          (604) 681-5372
(c)      To 360 at:

         360networks inc.
         Suite 1500 - 1066 West Hastings Street
         Vancouver, B.C.  V6E 3X1

         Attention:        Secretary
         Fax No.: (604) 648-7747

Any such notice, direction, request or other communication will be deemed to
have been given or made on the date on which it was delivered or, in the case of
fax, on the next business day after receipt of transmission. Any party may
change its fax number or address for service from time to time by written notice
in accordance with this section.

6.6      ASSIGNMENT

This Agreement is not assignable by WFHL in whole or in part without the prior
written consent of 360finance and 360. Any attempt by WFHL to assign any of the
rights or to delegate any of the duties or obligations of this Agreement without
such prior written consent is void. This Agreement is not assignable by 360 or
360finance in whole or in part without the prior written consent of WFHL. Any
attempt by 360 or 360finance to assign any of the rights or to delegate any of
the duties or obligations of this Agreement without such prior written consent
is void.

6.7      COUNTERPARTS

This Agreement may be executed in any number of counterparts with the same
effect as if all parties had signed the same document. All of these counterparts
will for all purposes constitute one agreement, binding on the parties,
notwithstanding that all parties are not signatories to the same counterpart. A
fax transcribed copy or photocopy of this Agreement executed by a party in
counterpart or otherwise will constitute a properly executed, delivered and
binding agreement or counterpart of the executing party.

                                     - 11 -
<PAGE>

6.8 WAIVER

No failure or delay on the part of any party in exercising any power or right
under this Agreement will operate as a waiver of such power or right. No single
or partial exercise of any right or power under this Agreement will preclude any
further or other exercise of such right or power. No modification or waiver of
any provision of this Agreement and no consent to any departure by any party
from any provision of this Agreement will be effective until the same is in
writing. Any such waiver or consent will be effective only in the specific
instance and for the specific purpose for which it was given. No notice to or
demand on any party in any circumstances will entitle such party to any other or
further notice or demand in similar or other circumstances.

6.9      FURTHER ASSURANCES

Each of the parties will promptly execute and deliver to the other at the cost
of the other such further documents and assurances and take such further actions
as the other may from time to time request in order to more effectively carry
out the intent and purpose of this Agreement and to establish and protect the
rights, interests and remedies intended to be created in favour of the other.

6.10     ENTIRE AGREEMENT

This Agreement and any documents and agreements to be delivered pursuant to this
Agreement supersede all previous invitations, proposals, letters,
correspondence, negotiations, promises, agreements, covenants, conditions,
representations and warranties with respect to the subject matter of this
Agreement. There is no representation, warranty, collateral term or condition or
collateral agreement affecting this Agreement, other than as expressed in
writing in this Agreement.

6.11     AMENDMENTS

No change or modification of this Agreement will be valid unless it is in
writing and signed by each party to this Agreement.

6.12     INVALIDITY OF PARTICULAR PROVISION

If any provision of this Agreement or any part of any provision (in this section
called the "Offending Provision") is declared or becomes unenforceable, invalid
or illegal for any reason whatsoever including, without limiting the generality
of the foregoing, a decision by any competent courts, legislation, statutes,
bylaws or regulations or any other requirements having the force of law, then
the remainder of this Agreement will remain in full force and effect as if this
Agreement had been executed without the Offending Provision.

6.13     RELATIONSHIP

Nothing in this Agreement will make or be construed to make 360finance or 360
and WFHL partners or agents of each other or to create any other relationship by
which the acts of any party may bind the others or result in any liability to
the other.

                                     - 12 -
<PAGE>

6.14     CURRENCY

Unless otherwise specified all sums of money expressed in this Agreement are in
the lawful money of Canada.

6.15     NUMBER AND GENDER

Unless the context of this Agreement otherwise requires, to the extent necessary
so that each clause will be given the most reasonable interpretation, the
singular number will include the plural and vice versa, the verb will be
construed as agreeing with the word so substituted, words importing the
masculine gender will include the feminine and neuter genders, words importing
persons will include firms and corporations and words importing firms and
corporations will include individuals.

6.16     HEADINGS AND CAPTIONS

The headings and captions of sections and paragraphs contained in this Agreement
are all inserted for convenience of reference only and are not to be considered
when interpreting this Agreement.

6.17     ACKNOWLEDGEMENT OF RECEIPT

Each of the parties acknowledges receiving an executed copy of this Agreement.

6.18     ENUREMENT

Subject to the restrictions on transfer contained in this Agreement, this
Agreement will enure to the benefit of and be binding on the parties and their
respective heirs, executors, administrators, successors and assigns.

6.19     RECOURSE

360 and 360finance shall have recourse under this Agreement, the WFHL Note and
the General Security Agreement to, and only to, that Collateral listed in
Schedule A to the general security agreement described in Section 2.3 (which
WFHL has represented and warranted are all of the assets of WFHL as at the date
of this Agreement) and Proceeds thereof and to any assets acquired by WFHL after
the date of this Agreement.

6.20     SURVIVAL

The terms and conditions of this Agreement will survive the closing of
transactions hereby contemplated.

                     [THE NEXT PAGE IS THE EXECUTION PAGE.]

                                     - 13 -
<PAGE>

IN WITNESS WHEREOF the parties have executed this Agreement as of the date first
above mentioned.

360FINANCE LTD.                        WORLDWIDE FIBER HOLDINGS LTD.

Per:                                   Per:
Signed                                 Signed
_____________________________________  _______________________________________
Signature                              Signature

_____________________________________  _______________________________________
Name                                   Name

_____________________________________  _______________________________________
Title                                  Title

360NETWORKS INC.

Per:
Signed
_____________________________________
Signature

_____________________________________
Name

_____________________________________
Title

                                     - 14 -

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