Document:

Exhibit 10.1

 

Dated 26 August 2005

 

VIA NET.WORKS, INC.

 

and

 

MAWLAW 653 LIMITED

 

and

 

INTEROUTE COMMUNICATIONS
HOLDINGS SA

 

 

SALE AND PURCHASE AGREEMENT

relating to the operating subsidiaries and certain assets and
liabilities of VIA NET.WORKS, Inc.

 

 

 

One Angel Court

London EC2R 7HJ

 

+44 20 7367 0200

 

 

Sale and Purchase Agreement

 

This
DEED is
made 26 August 2005

 

between:

 

(1)                              VIA NET.WORKS, Inc., a company incorporated in Delaware,
the United States whose registered office is at 1013 Centre Road, Wilmington,
Delaware 19805, United States (“VIA Inc.”
or the “Seller”);

 

(2)                              MAWLAW 653 LIMITED a company
organised under the laws of England & Wales (registered number
5391411) whose registered office is at Walbrook Building, 195 Marsh Wall,
London E14 9SG, United Kingdom (the “Purchaser”);
and

 

(3)                              INTEROUTE COMMUNICATIONS
HOLDINGS SA a company organised under the laws of Luxembourg
(registered number RCS Luxembourg B109.435) whose registered office is at 9,
Rue Schiller, L-2519 Luxembourg (“Interoute” and,
together with the Purchaser, the “Purchasers”
or the “Relevant Purchasers”).

 

Whereas:

 

(A)                           The Seller has agreed to sell the Group
(as defined below) and to assume the obligations imposed on the Seller under
this Agreement.

 

(B)                             The Relevant Purchasers have agreed to
purchase the Group and to assume the obligations imposed on the Relevant
Purchasers under this Agreement.

 

It
is agreed as follows:

 

1                                      Interpretation

 

In this Agreement, unless the
context expressly otherwise requires, the provisions in this Clause 1 apply:

 

1.1                            Definitions

 

“Accounts Date” means 31 December 2004;

 

“affiliate” means in relation to a person, any
entity controlled, directly or indirectly, by that person, any entity that
controls, directly or indirectly, that person or any entity directly or
indirectly under common control with that person;

 

“Aggregate Purchaser Liability” means the sum of
US$2,000,000;

 

“Agreed Terms” means, in relation to a
document, such document in the terms agreed between VIA Inc. and the Purchaser
and signed for identification by the Seller’s Lawyers and the Purchasers’
Lawyers with such alterations as may be agreed in writing between VIA Inc. and
the Purchaser from time to time;

 

“Assumed Liabilities” means the liabilities
of the Seller (other than the Excluded Liabilities) to be assumed by the
Relevant Purchasers under or pursuant to Clause 2.3.1 and “Assumed Liability” means any one of them;

 

“Back Stop Date” means 15 November 2005
or, only in the event of any delays caused by the SEC in relation to Clause 4.2,
such number of additional days as the SEC may take to

 

1

 

respond or come
to a final determination on any matter in respect thereof, provided that, in
any case, such Back Stop Date shall not go beyond 15 December 2005;

 

“Blocked
Account” means the blocked account at ING Bank N.V. in the name of
PSINet Netherlands currently in credit to the amount of €283,716;

 

“Blocked
Amount” means the amount in Euro standing to credit in the Blocked
Account, converted to U.S. dollars at the Euro/U.S. dollar exchange rate at
Closing as quoted by the Financial Times, London edition or, if no such rate is
quoted on that date, on the preceding date on which such rates are quoted;

 

“Business Assets” means all the property,
rights and assets (including the Seller’s Computer Systems) agreed to be sold
under Clause 2.3.1 of this Agreement or any relevant Local Transfer Document;

 

“Business Day” means a day which is not a
Saturday, a Sunday or a public holiday in London or Amsterdam;

 

“Business Intellectual Property” means all
rights and interests of the Seller in Intellectual Property which, at or
immediately before Closing, is used or capable of use in the business of the
Group, including the Registered Intellectual Property details of which are set
out in the document entitled “Business Intellectual Property” contained in the Data Room;

 

“Cashflow” means the sum of any of the
following to the extent they occur between the date of this Agreement and the
Closing Date (inclusive):

 

(i)                                   the aggregate amount of any dividend,
or distribution declared, paid or made by a Group Company other than to another
Group Company (expressed as a negative number); and

 

(ii)                                the aggregate amount of any redemption
or purchase of shares or return of capital by a Group Company other than to
another Group Company (expressed as a negative number); and

 

(iii)                             the aggregate amount of any cash payments
made to (or the fair market value of assets transferred to or liabilities
assumed, indemnified or incurred for the benefit of) any member of the VIA
Group (including, without limitation, management fees and any payment of
interest) by any Group Company (expressed as a negative number); and

 

(iv)                            the aggregate amount of any cash
payments made to (or the fair market value of assets transferred to or
liabilities assumed, indemnified or incurred for the benefit of) any Group
Company (including, without limitation, management fees and any payment of
interest) by any member of the VIA Group (expressed as a positive number); and

 

(v)                               any payment or incurrence by a Group
Company of any third party costs and expenses in connection with the proposed
sale of the Companies to the extent that the same have not been refunded to the
relevant Group Company by the Seller or its agents prior to Closing (expressed
as a negative number); and

 

(vi)                            any payment or incurrence by a Group
Company of any material third party costs and expenses that should properly
have been for the account of the VIA Group in connection with any litigation or
potential litigation to the extent that the same have

 

2

 

not been refunded to
the relevant Group Company by the Seller or its agents prior to Closing
(expressed as a negative number); and

 

(vii)                         any indemnity or other contingent
liability or obligation granted or assumed, other than pursuant to this
Agreement, by a Group Company in connection with the proposed sale of the
Companies (expressed as a negative number).

 

“Charged Asset” means any asset subject to
an Encumbrance created pursuant to a Security Document;

 

“Claranet Agreement” means the sale
and purchase agreement relating to the operating subsidiaries and certain
assets and liabilities of VIA, between VIA Inc., VIA Net.Works Holdco Inc., VIA
Net.Works NY Corp and Claranet Group Limited, dated 30 April 2005 (as
amended by an amendment and restatement agreement dated 12 July 2005);

 

“Claranet Deed” means the deed
of settlement (including all exhibits and side letters relating thereto) relating
to the Claranet Agreement between VIA Inc., VIA Net.Works Holdco Inc., VIA
Net.Works NY Corp, Claranet Group Limited and Clara.net Holdings Limited, dated
23 August 2005;

 

“Claranet Service Agreements” means
all agreements to which the Seller and/or any Group Company is a party
(including without limitation, the Claranet TSA, the Claranet Deed and the
transition services agreement dated 28 September 2004 between VIA Inc.,
Claranet Limited and VIA Net.Works UK Limited) under which services are
provided to and/or received by any of the Seller, Claranet Limited or any
member of their respective group of companies;

 

“Claranet TSA” means the
transition services agreement between VIA Inc., VIA Net.Works Holdco Inc., VIA
Net.Works NY Corp, Claranet Group Limited and Clara.net Holdings Limited, dated
12 July 2005;

 

“Claranet Facility” means the facility agreement entered into
between VIA Inc. and Clara.net Holdings Limited dated 30 April 2005 (as
amended and restated on 12 July 2005);

 

“Claranet Group” means Claranet Group Limited and its
subsidiaries from time to time;

 

“Claims” means all rights and claims of the
Seller arising at any time whether before or after Closing primarily in
relation to any of the Business Assets or any Assumed Liability (but excluding
any rights or claims under insurance policies) and “Claim” means any one of them;

 

“Closing” means the completion of the sale
of the Group pursuant to Clauses 6.1, 6.2 and 6.3 of this Agreement and any
relevant Local Transfer Document;

 

“Closing Date” means, in respect of a
Closing, the date on which such Closing takes place pursuant to Clause 6;

 

“Companies” means the companies, details of
which are set out in paragraph 1 of Schedule 2 and “Company” means any one of them;

 

“Competing Proposals” means a proposal made
by a Third Party to the Seller pursuant to which such Third Party will acquire
equity or any material assets, or provide debt or equity funding to, the Seller
or any Group Company. For the avoidance of doubt, “Competing Proposal” shall
not include the disposal of any assets of the Seller or any Group Company

 

3

 

to the extent
that such disposal is proposed by or otherwise agreed to in writing by
Purchaser, pursuant to a Restructuring Action or otherwise;

 

“Computer Systems” means all computer
systems, communications systems, hardware and software used by a Group Company
and/or the Seller, as appropriate;

 

“Confidentiality Agreement” means the
confidentiality agreement dated 8 March 2005 between VIA Inc. and
Interoute pursuant to which VIA Inc. made available to the Purchasers certain
confidential information relating to the Group;

 

“Consolidated Accounts” means the consolidated audited
accounts of the VIA Group and the Group Companies taken as a whole, each
comprising a balance sheet and a profit and loss account for the twelve month
period ended on the Accounts Date;

 

“Contracts” means the Licence Agreements and
all contracts, undertakings, arrangements and agreements listed in the document
in the Data Room entitled “Revised Schedule of Contracts” (excluding
the Claranet Service Agreements) or contained in the Data Room and “Contract” means any of them;

 

“Customer Premises Equipment” means
equipment required by a customer for the provision of services to that customer
and which is not located at the premises of a Group Company;

 

“Data Room” means the data room containing
documents and information relating to the Group made available by the Seller at
the website communicated by the Seller to the Purchasers on a CD ROM, the
contents of which are listed in Appendix B to the Disclosure Letter;

 

“DebtCo” means the wholly owned subsidiary of VIA Inc. to be
incorporated under the laws of Jersey by VIA Inc. as soon as practicable after
the date of this Agreement;

 

“Deferred Amount” means the amount of rent
payable under the Schiphol Lease from the date of Closing until the expiry of
that lease;

 

“Disclosure Letter” means the letter dated
on the same date as this Agreement from the Seller to the Purchasers, as
updated on Closing, disclosing:

 

(i)                                  information constituting exceptions to
the Warranties; and

 

(ii)                               details of other matters referred to in
this Agreement;

 

“Employee” means all employees of the Group
Companies and all Relevant Employees who are or will be employed by a Group
Company immediately prior to the Closing Date (other than any specifically
excluded by agreement with the Purchaser);

 

“Encumbrance” means any claim, charge,
mortgage, lien, option, equity, power of sale, hypothecation, usufruct,
retention of title, right of pre-emption, right of first refusal or other third
party rights or security interest of any kind or an agreement, arrangement or obligation
to create any of the foregoing;

 

“Event of Default” has the meaning given to it in the
Facility Agreement;

 

“Excluded Liabilities” means the liabilities
referred to in Clause 2.3.3;

 

“Facility Agreement” means the agreement in
the Agreed Terms to be entered into on the date hereof, pursuant to which the
Purchaser will provide VIA Inc. with a working capital facility;

 

4

 

“Finance Documents” has the meaning given to
it in the Facility Agreement;

 

“Financial Indebtedness” means any indebtedness for or in
respect of:

 

(a)                                  moneys borrowed;

 

(b)                                 any amount raised by acceptance under
any acceptance credit facility;

 

(c)                                  any amount raised pursuant to any note
purchase facility or the issue of bonds, notes, debentures, loan stock or any
similar instrument;

 

(d)                                 the amount of any liability in respect
of any lease or hire purchase contract which would, in accordance with the
relevant accounting standard in the jurisdiction of the relevant Group Company,
be treated as a finance or capital lease;

 

(e)                                  receivables sold or discounted (other
than any receivables to the extent they are sold on a non-recourse basis);

 

(f)                                    any amount raised under any other
transaction (including any forward sale or purchase agreement) having the
commercial effect of a borrowing;

 

(g)                                 any derivative transaction entered into
in connection with protection against or benefit from fluctuation in any rate
or price (and, when calculating the value of any derivative transaction, only
the marked to market value shall be taken into account);

 

(h)                                 shares which are expressed to be
redeemable;

 

(i)                                     any counter-indemnity obligation in
respect of a guarantee, indemnity, bond, standby or documentary letter of
credit or any other instrument issued by a bank or financial institution; and

 

(j)                                     the amount of any liability in respect
of any guarantee or indemnity for any of the items referred to in paragraphs (a) to
(i) above.

 

“Finance Leasing Arrangement” means any arrangement or
transaction pursuant to which a Group Company:

 

(a)                                  sells, transfers or otherwise disposes
of any of its assets on terms whereby they are or may be leased to or
re-acquired by that or any other Group Company;

 

(b)                                 sells transfers or otherwise disposes
of any of its receivables on recourse terms;

 

(c)                                  agrees that money or the benefit of a
bank or other account may be applied, set-off or made subject to a combination
of accounts, save in the ordinary course of its banking arrangements for the
purposes of netting debit and credit balances; or

 

(d)                                 enters into any other preferential
arrangement having a similar effect;

 

in circumstances
where the arrangement or transaction is entered into primarily as a method of
raising Financial Indebtedness or of financing the acquisition of an asset

 

“First Payables Assignment Agreement” means the assignment
agreement in the Agreed Terms to be entered into in accordance with the terms
of clause 5.4.2;

 

“First Relevant Subsidiaries” shall have the meaning given in
the First Payables Assignment Agreement;

 

5

 

“Goodwill” means the goodwill of the Seller
in relation to the business of the Group as at Closing;

 

“Group” means the Group Companies and the
VIA Operations, taken as a whole;

 

“Group Companies” means the Companies and
the Subsidiaries and “Group Company”
means any one of them;

 

“Group Intellectual Property” means all
rights and interests held by the Group Companies in Intellectual Property as at
the date of Closing (whether as owner or licensee);

 

“Insolvency Proceedings” means:

 

(i)                                  any statutory procedure involving a
suspension of payments, a moratorium of any indebtedness, winding-up,
dissolution, administration or reorganisation (by way of voluntary arrangement,
scheme of arrangement or otherwise) of any Group Company or any member of the
VIA Group;

 

(ii)                               a composition, assignment or
arrangement with the majority by value of its unsecured creditors of any Group
Company or any member of the VIA Group;

 

(iii)                            the appointment of a custodian,
liquidator, receiver, administrator, administrative receiver, compulsory
manager or other similar officer in respect of any Group Company or any of its
assets of any Group Company or any member of the VIA Group;

 

(iv)                           the enforcement of any Security over
any assets of any Group Company or any member of the VIA Group and which if not
discharged within ten Business Days would have a material adverse effect on the
business of the Group Companies and the VIA Group taken as a whole;

 

(v)                              the expropriation, attachment, sequestration,
distress or execution which affects any asset or assets of a Group Company or
any member of the VIA Group and which if not discharged within ten Business
Days would have a material adverse effect on the business of the Group
Companies and the VIA Group taken as a whole; or

 

(vi)                           any resolution by the directors of any
Group Company or member of the VIA Group or any application or petition to a
court in respect of any of the processes or events listed in paragraphs (i) to
(v) above,

 

or any analogous
statutory procedure or enforcement step in any jurisdiction,

 

BUT EXCLUDING any
step taken by a third party that:

 

(y)                              does not actually result in one of the
processes or events described in paragraphs (i) to (v) above being
commenced or occurring in respect of that Group Company or member of the VIA
Group and is dismissed or withdrawn within ten Business Days of presentation;
and

 

(z)                                is made in respect of a debt with a
value purported (by the third party) to be less than $500,000.

 

“Intellectual Property” means trade marks,
domain names, get-up, logos, patents, design rights, copyrights (including
copyrights in software), database rights, Know-how and all

 

6

 

other similar
rights in any part of the world, including any registration of such rights and
applications and rights to apply for such registrations;

 

“Intra-Group Payables” shall have the meaning given in the
First Payables Assignment Agreement;

 

“Know-how” means confidential and/or
proprietary industrial and commercial information and techniques in any form
including (without limitation) drawings, formulae, test results, reports,
project reports and testing procedures, instruction and training manuals,
tables of operating conditions, market forecasts, lists and particulars of
customers and suppliers;

 

“Liabilities” means all liabilities, duties
and obligations of every description, whether deriving from contract, common
law, statute or otherwise, whether present or future, actual or contingent,
ascertained or unascertained or disputed and whether owed or incurred severally
or jointly or as principal or surety;

 

“Licence Agreements” means those
Intellectual Property licence agreements listed in the document entitled “Revised
Schedule of Contracts” contained in the “VIA Inc.” folder in the Data Room and
copies of which are included in the Data Room;

 

“Local Transfer Document” has the meaning
given to it in Clause 2.5.1;

 

“Losses” means all losses, liabilities,
costs (including without limitation legal costs and experts’ and consultants’
fees), charges, expenses, actions, proceedings, claims and demands but
excluding consequential, incidental, special or punitive damages including loss
of profits or revenues;

 

“Management Agreement” means the agreement in the Agreed
Terms to be entered into on the date hereof, pursuant to which the Purchaser
shall provide Management Consultancy Services (as defined in the Management
Agreement) to VIA Inc. and the Group Companies;

 

“Material Contracts” means contracts to
which the Seller or a Group Company is a party and which account for, in the
case of customers, in excess of €150,000 of revenue per annum and, in the case
of suppliers, in excess of €100,000;

 

“Material Group IP” means such of the Group
Intellectual Property as is material to the business of the Group;

 

“Moveable Assets” means all existing
applications and/or systems used in the operations of the Group Companies
immediately prior to Closing, including all IT, communications, network
management, back office and financial software applications or systems
(Inovaware, Coda, etc.) and network management systems;

 

“Payables  Release Agreement”
means the release agreement in the Agreed Terms to be entered into in
accordance with the terms of clause 5.4.3;

 

“Permitted
Encumbrance” means:

 

(i)                                  any lien arising by operation of law
and in the ordinary course of trading; or

 

(ii)                               any Encumbrance in existence as at the
date of this Agreement or coming into existence pursuant to an agreement
existing as of the date of this Agreement; or

 

(iii)                            any Encumbrance created pursuant to the
Finance Documents;

 

7

 

“Properties” means the leasehold properties,
listed in the document entitled “Real Property Leasehold Interest Summary
Relating to Office and Datacentres” contained in the Data Room, and “Property” means any one of them;

 

“Purchase Price” has the meaning given in
Clause 3.1;

 

“Purchasers’ Group” means Interoute
Communications Holdings S.A. (a Luxembourg incorporated company) and its subsidiaries
from time to time;

 

“Purchasers’ Lawyers” means Mayer, Brown,
Rowe & Maw LLP, of 11 Pilgrim Street, London EC4V 6RW, United Kingdom;

 

“Quarterly Lease Payment  Amount” means
the quarterly rent payment specified in the Schiphol Lease, payable in advance;

 

“Registered Intellectual Property” means
Intellectual Property which is registered or the subject of an application for
registration in any patent, trade mark or other Intellectual Property registry
anywhere in the world;

 

“Relevant Employees” means those employees
listed in the document entitled “Relevant Employees” contained in the Data
Room;

 

“Relevant Purchasers’ Warranties” has the
meaning given to it in Clause 8.1;

 

“Restructuring Action” means an action to
restructure the business of any Group Company or the VIA Operations which
restructuring is carried out prior to Closing by agreement between VIA Inc. and
the Purchaser;

 

“Schiphol Assignment” each full or partial assignment of the
rights and obligations of VIA Nederland under the Schiphol Lease which has the
effect of releasing VIA Nederland from any and all rights and obligations under
the Schiphol Lease;

 

“Schiphol Lease” means the lease dated 14 April 2003 by
and among VIA Nederland and the Schiphol Lessor over the premises at H.
Walaardt Sacrestraat 401-403, 1017BM Schiphol, The Netherlands, to be assigned
to PSINet Netherlands;

 

“Schiphol Lessor” means Bouwfonds Property Finance N.V., a
private company with limited liability, duly incorporated under the laws of The
Netherlands, having its registered office at Hoevelaken, Westerdorpstraat 66,
The Netherlands;

 

“SEC” has the meaning given to it in Clause 4.12;

 

“Second Payables Assignment Agreement” means the assignment
agreement in the Agreed Terms to be entered into in accordance with clause 5.4.3;

 

“Security” has the meaning given to it in
the Facility Agreement;

 

“Security Assignment Agreement” means the security assignment
agreement in the Agreed Terms entered into in accordance with the terms of
clause 5.4.1;

 

“Security Document” has the meaning given to
it in the Facility Agreement;

 

“Seller’s Lawyers” means Hogan &
Hartson of One Angel Court, London EC2R 7HJ, United Kingdom;

 

“Senior Employee” means any Employee
employed or engaged in relation to the Group on an annual salary (on the basis
of full-time employment) in excess of €100,000 or local equivalent;

 

8

 

“Shares” means the shares in the capital of
the Companies specified in Part 1 of Schedule 1;

 

“Solus Accounts” means the audited accounts
of PSINet Germany GmbH, VIA NET.WORKS France S.A., VIA NET.WORKS España SL, VIA
NET.WORKS France Holding SAS and VIA NET.WORKS UK Holding Limited comprising a
balance sheet and a profit and loss account for the twelve month period ended
on 31 December 2003;

 

“Subscription Agreement” has the meaning given to it in the
Facility Agreement;

 

“Subsidiaries” means the companies listed in
paragraph 2 of Schedule 2 together with any other subsidiaries of the
Companies and “Subsidiary” means
any one of them;

 

“Taxation” or “Tax” means all forms of taxation whether direct or indirect
and whether levied by reference to income, profits, gains, net wealth, asset
values, turnover, added value or other reference and statutory, governmental,
state, provincial, local governmental or municipal impositions, duties,
contributions, rates and levies (including without limitation social security
contributions and any other payroll taxes), whenever and wherever imposed
(whether imposed by way of a withholding or deduction for or on account of tax
or otherwise) and in respect of any person and all penalties, charges, costs
and interest relating thereto;

 

“Taxation Benefit” means any Taxation
benefit or advantage, including any loss, relief, allowance, exemption,
set-off, deduction or credit available in the computation of any liability to
Taxation;

 

“Tax Authority” means any taxing or other
authority competent to impose any liability in respect of Taxation or
responsible for the administration and/or collection of Taxation or enforcement
of any law in relation to Taxation;

 

“Third Party” means persons other than the
Purchasers or any member of the Purchasers’ Group;

 

“Third Party Consents” means all consents,
licences, approvals, permits, authorisations or waivers required from third
parties for the assignment or transfer to the Relevant Purchasers or a Group
Company of any of the Contracts and “Third
Party Consent” means any one of them;

 

“Transaction Documents” means the Finance Documents, the
Subscription Agreement, the Management Agreement, the Assignment Agreement,
this Agreement and all documents contemplated by this Agreement;

 

“VAT” means within the European Union such
Tax as may be levied in accordance with (but subject to derogations from) the
Directive 77/338/EEC and outside the European Union any Taxation levied by
reference to added value or sales;

 

“VIA Group “ means VIA Inc. and its
subsidiaries from time to time excluding the Group Companies;

 

“VIA Group Drawdown Schedule” has the
meaning given in the Facility Agreement;

 

“VIA Inc. Board” means the board of
directors of VIA Inc.;

 

“VIA Operations” means the activities
carried on by the Seller in relation to or in connection with the business of
the Group Companies and being sold under this Agreement pursuant to Clause 2.3
and the Local Transfer Documents;

 

9

 

“VIA Shareholders” means the holders of VIA
Inc.’s common stock from time to time;

 

“VIA Termination Event” has the meaning given to it in the
Facility Agreement; and

 

“Warranties” means the warranties given by
the Seller pursuant to Clause 8 and Schedule 7 and “Warranty” means any one of them. and

 

1.2                            Shares

 

References to
shares shall include, where relevant, quotas.

 

1.3                            Singular, plural, gender

 

References to one
gender include all genders and references to the singular include the plural
and vice versa.

 

1.4                            References to persons and companies

 

References to:

 

1.4.1                   a person include any company,
partnership or unincorporated association (whether or not having separate legal
personality); and

 

1.4.2                   a company include any company,
corporation or any body corporate, wherever incorporated.

 

1.5                            References to subsidiaries and holding companies

 

A company is a “subsidiary” of another company (its “holding company”) if that other company,
directly or indirectly, through one or more subsidiaries:

 

1.5.1                   holds a majority of the voting rights
in it;

 

1.5.2                   is a member or shareholder of it and
has the right to appoint or remove a majority of its board of directors or
equivalent managing body;

 

1.5.3                   is a member or shareholder of it and
controls alone, pursuant to an agreement with other shareholders or members, a
majority of the voting rights in it; or

 

1.5.4                   has the right to exercise a dominant
influence over it, for example by having the right to give directions with
respect to its operating and financial policies, with which directions its
directors are obliged to comply.

 

1.6                            Schedules etc.

 

References to
this Agreement shall include any Recitals and Schedules to it and references to
Clauses and Schedules are to Clauses of, and Schedules to, this Agreement.
References to paragraphs and Parts are to paragraphs and Parts of the
Schedules.

 

1.7                            Information

 

References to
books, records or other information mean books, records or other information in
any form including paper, electronically stored data, magnetic media, film and
microfilm.

 

10

 

1.8                            Currency Conversion

 

Any amount to be
converted from one currency into another currency for the purposes of this
Agreement shall be converted into an equivalent amount at the Conversion Rate
prevailing at the Relevant Date. For the purposes of this Clause:

 

“Conversion Rate” means the spot closing
mid-point rate for a transaction between the two currencies in question on the
date immediately preceding the Relevant Date as quoted by the Financial Times,
London edition, or, if no such rate is quoted on that date, on the preceding
date on which such rates are quoted;

 

“Relevant Date” means, save as otherwise
provided in this Agreement, the date on which a payment or an assessment is to
be made, save that, for the following purposes, the date shall mean:

 

(i)                                   for the purposes of Clause 5.1, the
date of this Agreement;

 

(ii)                                for the purposes of Clause 9, the date
a claim is made in accordance with Clause 9.1; and

 

(iii)                             for the purposes of Schedule 7,
the date at which the relevant Warranty is expressed to be true and accurate.

 

1.9                            Rights of the Seller and the Purchaser

 

1.9.1                   The Purchaser and the Relevant
Purchasers agree that where any right is given to a Purchaser under this
Agreement, such right shall be exercisable exclusively by the Purchaser and any
such exercise shall be binding on the Relevant Purchasers.

 

1.10                     Joint and Several Liability

 

1.10.1            The obligations of the Purchasers under
this Agreement shall be joint and several.

 

2                                      Agreement to Sell the Group

 

2.1                            Sale and Purchase of the Group

 

On and subject to
the terms of this Agreement and the Local Transfer Documents:

 

2.1.1                   the Seller agrees to sell or procure
the sale of, and

 

2.1.2                   the Relevant Purchasers agree (each as
to the Shares set out against its name in Schedule 1 and the VIA
Operations) to purchase,

 

except as
otherwise expressly provided in this Agreement, the Group as a going concern.

 

2.2                            Sale of the Shares

 

2.2.1                   The Shares shall be sold free from
Encumbrances and the Seller shall sell the entire legal and beneficial
ownership in the Shares together with all rights and advantages attaching to
them as at the date of this Agreement (including, without limitation, the right
to receive all dividends or distributions declared, made or paid on or after
Closing).

 

2.2.2                   The Seller shall procure that on or
prior to Closing any and all rights of pre-emption over the Shares are waived
irrevocably by the persons entitled thereto.

 

11

 

2.3                            Sale of the VIA Operations

 

2.3.1                   There shall be as the Relevant
Purchaser may elect: (a) transferred to such Group Company with effect
from Closing or (b) included in the sale of the VIA Operations under this
Agreement or, where relevant, the Local Transfer Documents, which shall be sold
free from Encumbrances (including the entire legal and beneficial ownership)
except for Permitted Encumbrances:

 

(i)                                  the Business Intellectual Property;

 

(ii)                               the Goodwill;

 

(iii)                            the Moveable Assets;

 

(iv)                           the rights of the Seller arising under
the Contracts (on the terms set out in Schedule 3);

 

(v)                              the benefit (so far as the same can
lawfully be assigned or transferred to the Relevant Purchasers) of the Claims;
and

 

(vi)                           the benefit (so far as the same can
lawfully be assigned or transferred to the Relevant Purchasers) of any claim
under an insurance policy to the extent such claim relates exclusively to any
Business Asset or Assumed Liability.

 

2.3.2                   Subject to Clause 2.3.3, with effect
from Closing the Seller agrees to transfer, or to procure the transfer (to the
extent it is able so to do), and the Relevant Purchaser or such Group Company
as the Relevant Purchasers may elect, agrees to accept the transfer of, and to
assume, duly and punctually pay, satisfy, discharge, perform or fulfil, all
Liabilities incurred by the Seller in relation to the Relevant Employees (in
accordance with and subject to the provisions of Schedule 4) and the
Contracts. The Seller agrees with the Relevant Purchasers that such Liabilities
shall be transferred to and assumed by the Relevant Purchasers or a member of
the Purchasers’ Group (including the Group Companies) so that the Relevant Purchasers
shall have such Liabilities (so far as the same can be lawfully transferred)
and so that the Relevant Purchasers or the Group Company, as the case may be,
shall have and be entitled to the benefit of the same rights, powers, remedies,
claims, defences, obligations and conditions (including, without limitation,
rights of set-off and counterclaim) as the Seller enjoyed.

 

2.3.3                   Clause 2.3.2 shall not apply to, and
the Relevant Purchasers shall not be obliged to, and the Seller shall procure
that no Group Company shall, accept the transfer of and to assume, duly and
punctually pay, satisfy, discharge, perform or fulfil:

 

(i)                                  any Liability of the Seller or the VIA
Group falling due for performance, or which should have been performed, prior
to Closing;

 

(ii)                               any Liability of the Seller or the VIA
Group except for the Liabilities referred to in Clause 2.3.2;

 

(iii)                            any Liability of the Seller or the VIA
Group owed to any member of the Claranet Group (other than in respect of the
obligations assumed pursuant to Clause 2.3.4 and those aspects of the Claranet
Deed associated with the Claranet TSA).

 

12

 

2.3.4                   With effect from Closing and to the
extent permitted by law, the Seller agrees to subcontract to the Purchaser the
obligations of the Seller and/or any Group Company to provide, as well as the
benefit of receipt by the Seller and/or any Group Company of, services under
the terms of the Claranet Service Agreements.

 

2.3.5                   The Purchaser agrees to being the
Seller’s sub-contractor under the Claranet Service Agreements and hereby agrees
to indemnify the Seller against all costs, fees, charges, expenses and
liabilities incurred by the Seller to any third party (including any member of
the Claranet Group) arising from or in connection with the negligent
performance of the Claranet Service Agreements sub-contracted to it pursuant to
Clause 2.3.4 by the Purchaser.

 

2.4                            Relevant Employees

 

The provisions of
Schedule 4 shall apply in respect of the Relevant Employees.

 

2.5                            Local Transfer Documents

 

2.5.1                   At Closing the Seller and the Relevant
Purchasers shall execute such agreements, transfers, conveyances and other
documents (subject to the relevant local law and otherwise as may be agreed
between the Seller and the Purchaser) to implement the transfer of (i) the
Shares and (ii) the VIA Operations (the “Local
Transfer Documents” and each, a “Local
Transfer Document”).

 

2.5.2                   To the extent that the provisions of a
Local Transfer Document are inconsistent with or (except to the extent they
implement a transfer in accordance with this Agreement) additional to the
provisions of this Agreement:

 

(i)                                  the provisions of this Agreement shall
prevail; and

 

(ii)                               so far as permissible under the laws of
the relevant jurisdiction, the Seller and the Purchaser shall procure that the
provisions of the relevant Local Transfer Document are adjusted, to the extent
necessary to give effect to the provisions of this Agreement or, to the extent
this is not permissible, the Seller shall indemnify the Purchaser against all
Losses suffered by the Relevant Purchasers or, as the case may be, the
Purchaser shall indemnify the Seller against all Losses suffered by the Seller,
in either case through or arising from the inconsistency between the Local Transfer
Document and the Agreement or the additional provisions (except to the extent
they implement a transfer in accordance with this Agreement).

 

2.5.3                   No Seller shall bring any claim against
the Relevant Purchasers in respect of or based upon the Local Transfer
Documents save to the extent necessary to implement any transfer of the Shares
or VIA Operations in accordance with this Agreement.

 

2.5.4                   No Purchaser shall bring any claim
against the Seller in respect of or based upon the Local Transfer Documents save
to the extent necessary to implement any transfer of the Shares or VIA
Operations in accordance with this Agreement.

 

13

 

3                                      Consideration

 

3.1                            Amount

 

The aggregate
consideration for the purchase at Closing of the Shares and the Business Assets
under this Agreement and the Local Transfer Documents shall be an amount in
cash equal to $18,100,000.00 (the “Purchase
Price”).

 

3.2                            Allocation of Purchase Price

 

The parties shall
co-operate in good faith prior to Closing to allocate the consideration between
the Shares and the Business Assets being acquired with a view to ensuring that
such allocation is made in a mutually beneficial manner (and in accordance with
applicable laws).

 

3.3                            VAT

 

The Seller and
Purchaser agree that the Purchase Price is exclusive of VAT.  If any VAT is found to be chargeable in
respect of this Agreement, it shall be payable in addition to the Purchase
Price, against delivery of a valid VAT invoice (or equivalent, if any), where
appropriate, in respect of which the provisions of Schedule 5 shall apply.

 

3.4                            Reduction of the Purchase Price

 

3.4.1                   If any payment is to be made by the
Seller to the Relevant Purchasers in respect of any claim for any breach of
this Agreement or any Local Transfer Document or pursuant to an indemnity under
this Agreement, the payment shall be made by way of adjustment of the
consideration paid by the Relevant Purchasers for the particular category of
Business Asset or Shares (if any) to which the payment and/or claim relates
under this Agreement and the Purchase Price shall be deemed to be reduced by
the amount of such payment.

 

3.4.2                   If:

 

(i)                                  the payment and/or claim relates to
more than one category of Business Asset or Shares, it shall be allocated in a
manner which reflects the impact of the matter to which the payment and/or
claim relates, failing which it shall be allocated rateably to the relevant
Business Assets or Shares by reference to the proportions in which the Purchase
Price is allocated in accordance with Clause 3.2; or

 

(ii)                               the payment and/or claim relates to no
particular category of Business Asset or Shares, it shall be allocated rateably
to all Business Assets and Shares by reference to the proportions in which the
Purchase Price is allocated in accordance with Clause 3.2,

 

and in each case
the Purchase Price shall be deemed to have been reduced by the amount of such
payment.

 

4                                      Conditions

 

4.1                            Conditions Precedent

 

The agreement
contained in Clause 2.1 to purchase and sell the Shares and the Business Assets
is conditional upon each of the following:

 

14

 

(i)                                  the approval of the VIA Shareholders in
accordance with s271 of the Delaware General Corporation Law of the
transactions contemplated by this Agreement;

 

(ii)                               incorporation of DebtCo;

 

(iii)                            no dispute in relation to the Claranet
Deed arising prior to Closing which dispute relates to those assets, shares and
liabilities to be transferred to the Relevant Purchasers pursuant to Clause 2
and the Transaction Documents;

 

(iv)                           the release and discharge pursuant to
the Claranet Deed of the security interests granted to Clara.net Holdings
Limited under the Claranet Facility remaining effective; and

 

(v)                              fulfilment of the obligations set out
in Clause 5.4.

 

4.2                            Responsibility for Satisfaction

 

VIA Inc. shall
use its best endeavours to ensure the satisfaction of the conditions set out in
Clause 4.1 as soon as possible and shall as soon as reasonably practical
following the date of this Agreement file requisite proxy materials with the US
Securities and Exchange Commission (“SEC”)
and proceed to a vote of VIA Shareholders, such vote to take place no later
than the Back Stop Date and, subject to the provisions of Clause 5.6, VIA Inc.
Board’s recommendation that VIA Shareholders approve the transactions
contemplated by this Agreement shall be included in the materials sent to VIA
Shareholders in relation to such vote. The Purchaser shall provide a reasonable
level of cooperation to VIA Inc. in connection with the preparation of the
proxy statement and shall provide the Seller with such information as it may
reasonably request from time to time. 
VIA Inc. shall respond promptly to any enquiries or requests for further
information raised by the SEC in respect of the matters raised by the SEC
pursuant to or in connection with this Agreement.

 

4.3                            Non-Satisfaction/Waiver

 

4.3.1                   VIA Inc. shall give notice to the
Purchaser of the satisfaction of the condition in Clause 4.1 within one
Business Day of becoming aware of the same.

 

4.3.2                   VIA Inc. may at any time, to the extent
permitted by law, waive in whole or in part and conditionally or
unconditionally the condition set out in Clause 4.1 by notice in writing to the
Purchaser.

 

4.3.3                   If the condition in Clause 4.1 is not satisfied
or waived on or before the Back Stop Date, save as expressly provided, this
Agreement (other than Clauses 1, 5.5.2, 11 and 12.2 to 12.15) shall lapse and
no party shall have any claim against any other under it, save for any claim
arising from breach of the obligation contained in Clause 4.2, provided that
the terms of Clause 5.5.2 shall apply and the amounts referred to in Clauses 5.5.2(x)
and (y) shall become payable to Interoute.

 

4.4                            Approval

 

The Seller shall
provide suitable evidence of (on or prior to the date of this Agreement) the
unanimous approval by VIA Inc.’s Board of this Agreement, the Subscription
Agreement, the Management Agreement and the Facility Agreement, including for
purposes of Section 203 of the Delaware General Corporation Law.

 

15

 

The Purchasers
shall each provide suitable evidence of (on or prior to the date of this
Agreement) the unanimous approval by each of its board of directors for the
entering into and the performance of the transactions contemplated by this
Agreement.

 

5                                      Pre-Closing

 

5.1                            The Seller’s Obligations in Relation to the Conduct of
the Group

 

Except (w) as contemplated and
expressly permitted under the terms of the Management Agreement, (x) as may be
required by law, (y) as may be required by any securities exchange or
regulatory or governmental body to which the Seller or any Group Company is
subject (including without limitation, Euronext, the SEC) or (z) as may be
required under this Agreement between the date of this Agreement and Closing
the Seller:

 

5.1.1                   shall carry on the business of the
Group as a going concern in the ordinary and
usual course as carried on since 1 January 2005;

 

5.1.2                   shall use commercially reasonable
efforts to maintain in force all existing insurance policies in all material
respects on the same terms and similar level of cover prevailing at the date of
this Agreement for the benefit of the Group Companies and the Seller;

 

5.1.3                   without prejudice to the generality of
Clause 5.1.1, shall not without the prior written consent of the Purchaser
(such consent not to be unreasonably withheld delayed or conditioned) do any of
the following in relation to any of the Group Companies or the VIA Operations:

 

(i)                                  enter into any agreement or incur any
commitment involving any capital expenditure in excess of $50,000 per item and
$1,000,000 in aggregate save in respect of agreements of a revenue nature, in
which case no such limit or consent shall apply, in each case exclusive of VAT;

 

(ii)                               enter into or amend any agreement or
commitment (save in respect of agreements of a revenue nature) (a) which
is not capable of being terminated without compensation at any time with three
months’ notice or less or that is not in the ordinary and usual course of business and (b) which involves or may
involve total annual expenditure in excess of $100,000 per agreement or
commitment and $1,000,000 in the aggregate, exclusive of VAT;

 

(iii)                            enter into a single transaction or a
series of transactions (whether related or not and whether voluntary or
involuntary) to sell, lease, transfer or otherwise dispose of any asset
(including any present or future revenues and rights of every description);

 

(iv)                           create any Encumbrance over any of its
assets except for a Permitted Encumbrance;

 

(v)                              enter into any new Finance Leasing
Arrangement;

 

(vi)                           make any loan, or provide any form of
credit or financial accommodation, to any other person other than in the
ordinary course of the business of the relevant Group Company;

 

16

 

(vii)                        other than the late or non-payment of
monies owing to the extent consistent with the practice adopted by the Group
since 1 January 2005 breach any of its material contractual or other
obligations with a person other than another Group Company;

 

(viii)                     acquire or agree to acquire any share,
shares or other interest in any company, partnership or other venture (other
than the DebtCo);

 

(ix)                             incur or assume any Financial
Indebtedness other than pursuant to the Facility Agreement or equipment leases
entered into prior to the date of this Agreement;

 

(x)                                create, allot or issue, or grant an
option to subscribe for, any share capital of any Group Company;

 

(xi)                             repay, redeem or repurchase any share
capital of any Group Company;

 

(xii)                          declare, make or pay any dividend or
other distribution to shareholders;

 

(xiii)                       save as required by law:

 

(a)                        make any amendment to the terms and
conditions of employment (including, without limitation, remuneration and
pension entitlements and other benefits) of any Senior Employee;

 

(b)                       provide or agree to provide any
gratuitous payment or benefit to any Senior Employee or any of his dependants
otherwise than in the ordinary course of business;

 

(c)                        other than in the case of gross misconduct,
dismiss, remove or redeploy any Senior Employee; or

 

(d)                       engage or appoint any additional Senior
Employee;

 

(xiv)                      save as expressly provided by the
Facility Agreement, enter into any guarantee, indemnity or other agreement to
secure any obligation of a third party other than on arm’s length terms or in
the ordinary and usual course of business of that Group Company; and

 

(xv)                         make any change to its accounting
practices or policies (except as required by generally accepted accounting
principles) or amend its constitutional documents;

 

(xvi)                      take any step or commit any act which
might materially affect the adequacy and sufficiency of the Group’s Computer
Systems;

 

5.1.4                   shall comply with the provisions of Schedule 4,
paragraph 1.

 

5.2                            Seller’s notification requirements

 

From the date of
this Agreement until Closing, the Seller shall notify the Purchaser forthwith
upon becoming aware that any of the following has occurred, is reasonably
likely to occur or has been threatened in writing:

 

5.2.1                   any Insolvency Proceedings occur in
respect of the Seller;

 

17

 

5.2.2                   the occurrence of any fact or matter
which would have resulted in a material breach of any Warranty had the fact or
matter been known to Matt Stuart Nydell, Raymond Walsh or Joe Correia at the
date of this Agreement.

 

5.3                            The Seller’s obligations in relation to inter-company
financing

 

5.3.1                   The Seller undertakes that, between the
date of this Agreement and Closing, it will procure that there is no Cashflow
in relation to any Group Company other than as set out in the accounting books
and records of the relevant Group Company or by such other means to which the
Purchaser has consented in advance, such consent to be in writing and not to be
unreasonably withheld or delayed or conditioned.

 

5.4                            Assignment Agreements, Security Assignment Agreements and
Release Agreements

 

5.4.1                   In accordance with the terms of the
Facility Agreement, after the date hereof, the Purchaser, the Seller and DebtCo
(upon the procurement of Seller) shall execute the Security Assignment
Agreement.

 

5.4.2                   In order to effect the execution of the
Security Assignment Agreement in accordance with the terms of the Facility
Agreement, Seller shall (and shall procure that DebtCo shall) execute the First
Payables Assignment Agreement.

 

5.4.3                   Immediately prior to Closing Seller
shall execute and shall procure that DebtCo shall execute:

 

(i)                                  the Second Payables Assignment
Agreement; and

 

(ii)                               the Payables Release Agreement.

 

5.5                            Termination

 

5.5.1                   The Purchaser shall be entitled, prior
to Closing, by notice in writing to the Seller, to terminate this Agreement
(other than Clauses 1, 5.5.2, 11 and 12.2 to 12.15) in the event:

 

(i)                                  any actual or pending claims or
proceedings against the Seller or any Group Company in excess of $50,000, which
has not been disclosed in the Data Room on or before 25 August 2005,
and which exceed $1,500,000 in aggregate, but excluding any claim or proceeding
arising from, or relating to any action taken or omitted to be taken by the
Seller, any Group Company or the Purchasers (and its affiliates) pursuant to
the Management Agreement, provided that if the Seller, acting reasonably,
believes that any claim(s) received is without merit or that the likely quantum
of such claim(s) is less than $1,500,000 in aggregate, the Seller and the
Purchaser shall refer the claim(s) in question to a leading counsel of not less
than ten years standing (or equivalent in overseas jurisdictions) agreed
between the parties (and in absence of agreement appointed at the election of
either party by the Chairman for the time being of the Bar Council of England
and Wales (or equivalent in overseas jurisdictions)) to determine whether the
claim(s) has merit and, if so, whether the quantum of the claim is reasonably
expected to exceed $1,500,000.  The costs
of such leading counsel (or equivalent in overseas jurisdictions) shall be
borne by the Purchaser.  In such
circumstances, the Purchaser shall not be allowed to

 

18

 

exercise its
rights pursuant to this Clause 5.5.1(i) unless the determination of
leading counsel (or equivalent overseas) is that the claim(s) has merit and is
reasonably expected to exceed $1,500,000 in aggregate;

 

(ii)                               prior to Closing the Seller enters into
Insolvency Proceedings;

 

(iii)                            breach(es) known to Matt Stuart Nydell,
Raymond Walsh or Joe Correia, of any Warranties where the aggregate Loss to the
Purchasers resulting from such breach(es) would exceed $1,000,000;

 

(iv)                           an Event of Default, as defined under
the Facility Agreement occurs;

 

(v)                              a VIA Termination Event occurs;

 

(vi)                           there is a failure by the Seller to
proceed to Closing in breach of this Agreement;

 

(vii)                        the conditions set out in Clause 4.1
not being satisfied in time to allow Closing to take place prior to the Back
Stop Date (provided that the Purchaser shall have no right to terminate this
Agreement unless it and each of its affiliates, as a VIA Stockholder, shall
have voted each share of VIA Inc. held by it in favour of the transactions
contemplated by this Agreement); or

 

(viii)                     the Seller and/or any other Group
Company suffers Losses to one or more of their assets which would not have
otherwise occurred had all existing insurance policies prevailing at the date
of this Agreement been maintained in all material respects and on the same
terms and similar level of cover and further provided  that such
Losses exceed US$2,000,000.

 

5.5.2                   In the event of:

 

(i)                                  a termination by the Purchaser pursuant
to Clause 5.5.1 or Clause 6.6.1; or

 

(ii)                               a termination by the Purchaser by
notice in writing to the Seller following the Seller failing, in time for the
VIA Shareholder meeting to take place no later than 15 December 2005:

 

(a)                        to convene a meeting of VIA
Shareholders to approve the transaction provided for by this Agreement; or

 

(b)                       to send to VIA Shareholders materials
containing a recommendation of the VIA Inc. Board in the Agreed Terms that the
transactions provided for by this Agreement be approved or, having sent such a
recommendation, the VIA Inc. Board adversely modifies or changes its
recommendation with respect to such transaction,

 

the Seller shall
pay to the Purchaser in same day funds:

 

(x)                                within two Business Days of receipt of
the termination notice (or, in the case of Clause 5.5.2(x)(b) below,
within two Business Days of being notified of the relevant amount):

 

(a)                        a break fee in the amount of $500,000;
and

 

19

 

(b)                       the Purchaser’s actual and incurred
costs and expenses (including legal fees) in connection with the transactions
provided for by this Agreement up to a maximum amount of $250,000;

 

(y)                              in accordance with the terms of the
Facility Agreement, all sums due and outstanding under the terms of the
Facility Agreement.

 

5.5.3                   In the event of a material breach by a
Purchaser of the Facility Agreement or failure by the Purchasers to proceed to
Closing in breach of this Agreement (including, for the avoidance of doubt,
Purchaser or any of its affiliates, as a VIA Stockholder, failing to vote each
share of VIA Inc. held by it in favour of the transactions contemplated by this
Agreement), the Seller shall be entitled, at any time prior to Closing, by
notice in writing to the Purchaser, to terminate this Agreement (other than
Clauses 1, 5.5.3, 11 and 12.2 to 12.15), and upon receiving such notice (as
applicable) or following a termination of this Agreement by the Seller pursuant
to Clause 6.6.1:

 

(i)                                  the Purchaser shall pay to the Seller
in same day funds within two Business Days a break fee in the amount of
$500,000; and

 

(ii)                               the Seller shall pay to the Purchaser
within 40 days of written demand from the Purchaser in accordance with the
terms of the Facility Agreement, all amounts outstanding under the terms
thereof.

 

5.6                            Exclusivity

 

The Seller
undertakes that:

 

5.6.1                   it, and members of the VIA Group and
the Group Companies and its or their respective agents, shall not make any
initial or further approach to, or enter into or continue negotiations with,
any other person with a view to a Competing Proposal taking place, provided
that the VIA Inc. Board or its agents may negotiate with a Third Party in
relation to a Competing Proposal if refusing to do so would, in the reasonable
determination of the VIA Inc. Board based on advice of external counsel of the
Seller, be reasonably likely to constitute a breach of its fiduciary duties to
VIA Shareholders;

 

5.6.2                   it shall not enter into any binding
agreement in relation to a Competing Proposal and the VIA Inc. Board shall not
recommend a Competing Proposal to VIA Shareholders unless:

 

(i)                                  to the extent permitted by any duties
of confidentiality or legal obligations to which the Seller was subject on or
prior to 8 March 2005, the Purchasers have first been given the
opportunity, including reasonable time in the circumstances, to at least match,
to the reasonable satisfaction of the VIA Inc. Board, any such Competing
Proposal; and

 

(ii)                               the VIA Inc. Board has determined that
the terms of the Competing Proposal are more favourable to VIA Shareholders,
taking into account all relevant factors, including conditions and likelihood
of closing,

 

provided that,
for the avoidance of doubt VIA Inc. is under no obligation to inform the
Purchasers of any unsolicited offers it may receive in relation to any
Competing Proposal save as required in order for the Seller to comply with
Clause 5.6.2(i).

 

20

 

5.6.3                   If the VIA Inc. Board accepts or
recommends a Competing Proposal to VIA Shareholders, the Seller or the
Purchaser may terminate this Agreement (other than Clauses 1, 5.5.2, 11 and 12.2
to 12.15) and no party shall have any claim against any other under this
Agreement.

 

6                                      Closing

 

6.1                            Date and Place

 

Subject to Clause
4, Closing shall take place at such time and place and on such date as the
parties may agree being no earlier than five Business Days following
notification by the Seller of satisfaction of the condition set out in Clause
4.1 or at such other location, time or date as may be agreed between the
Purchaser and the Seller.

 

6.2                            Closing Events

 

On each Closing,
the parties shall comply with their respective obligations specified in Schedule 6.
The Seller may waive some or all of the obligations of the Purchasers as set
out in Schedule 6 and the Purchaser may waive some or all of the
obligations of the Seller as set out in Schedule 6.

 

6.3                            Payment on Closing

 

6.3.1                   On Closing the Relevant Purchasers
shall pay an amount in cash to the Seller which is equal to the aggregate of:

 

(i)                                  the Purchase Price;

 

minus

 

(ii)                               the Deferred Amount;

 

minus

 

(iii)                            all amounts, including accrued
interest, payable or repayable to the Purchaser under Facility A of the
Facility Agreement (as defined therein) at the Closing Date.

 

6.3.2                   The Deferred Amount shall be paid (if
applicable) by the Purchasers to the Seller in accordance with Clause 6.8.

 

6.4                            Intra-Group Balances

 

The parties
hereby undertake that, in addition to the actions taken pursuant to clause 5.4,
they shall perform (or procure the performance of) such further acts and
execute (or procure the execution of) such further documents, as may reasonably
be necessary to carry out and give full effect to the parties’ intention that,
save as expressly provided by or pursuant to this Agreement, at Closing no sums
shall be owed by the VIA Group to the Group Companies or vice versa and any
sums owing by the VIA Group or the Group Companies to the Group Companies or
vice versa at Closing shall be assigned, subordinated, forgiven or otherwise
written off or capitalised by the relevant entity in each case without any of
the Purchasers, the Seller or the Group Companies incurring any cash cost. The
Parties shall co-operate in good faith (or procure such co-operation) with a
view to ensuring that such action is taken in a mutually beneficial tax
efficient manner and in taking such action the Seller shall procure that the
relevant members of the VIA Group use

 

21

 

applicable
reliefs and any available accumulated tax losses to the extent reasonably
agreed by VIA Inc.

 

6.5                            Mutual Release

 

6.5.1                   The Seller undertakes that on and after
Closing no member of the VIA Group will except as expressly permitted under the
terms of this Agreement make any claim on any Group Company or any of its
officers or directors in respect of any transactions, acts or omissions
occurring before Closing (and, if requested by the Purchaser, VIA Inc. shall or
shall procure that the relevant member of the VIA Group shall waive any such
claim) such that no Group Company shall have any Liability to any member of the
VIA Group save as otherwise provided by this Agreement.

 

6.5.2                   The Purchasers undertake that on and
after Closing no Group Company will (except as expressly permitted under the
terms of this Agreement) make any claim against any member of the VIA Group or
any of its officers or directors in respect of any transactions, act or
omissions occurring before Closing (and, if requested by VIA Inc., the
Purchasers shall procure that the relevant Group Companies shall waive any such
claim) such that no member of the VIA Group shall have any Liability to any
Group Company save as otherwise provided by this Agreement.

 

6.5.3                   Confirmation of no claims

 

(i)                                  The Seller confirms that with effect
from Closing the Seller and each of the Group Companies shall have no claim
(whether in respect of any breach of contract, compensation for loss of office
or monies due to it or on any account whatsoever) outstanding against any of
those directors of the Group Companies who are to resign with effect from
Closing.

 

(ii)                               To the extent that any such claim or
obligation exists or may exist in relation to any fact, matter or circumstance
arising on or before Closing, the Seller (in relation to the period from the
date of this Agreement until Closing) and the Purchasers (from Closing) shall,
other than in the case of fraud, procure the waiver by each of the Group
Companies of such claim or obligation and, other than in the case of fraud,
shall procure the release of such directors of the Group Companies from any
liability whatsoever in respect of such claim or obligation.

 

6.6                            Breach of Closing Obligations

 

If any party
fails to comply with any material obligation in Schedule 6, the Purchaser,
in the case of non-compliance by the Seller (which has not been remedied to the
reasonable satisfaction of the Purchaser within five Business Days), or the
Seller, in the case of non-compliance by the Purchasers (which has not been
remedied to the reasonable satisfaction of the Seller within five Business
Days), shall be entitled by written notice to the Seller or the Purchasers, as
the case may be:

 

6.6.1                   to terminate this Agreement (other than
Clauses 1, 5.5, 11 and 12.2 to 12.15) without liability on its part or on the
part of those on whose behalf notice is served whereupon in the case of such
non-compliance by the Seller, the amount referred to in Clauses 5.5.2(x) and
(y) shall become payable; or

 

22

 

6.6.2                   to effect the Closing so far as practicable
having regard to the defaults which have occurred, provided that the Seller
shall not be required to sell the Shares and the VIA Operations unless all of
the Shares and the VIA Operations are purchased simultaneously and, provided
further, that the Relevant Purchasers shall not be required to purchase the
Shares and the VIA Operations unless all of the Shares and the VIA Operations
are sold simultaneously; or

 

6.6.3                   to fix a new date for Closing (not
being more than 20 Business Days after the agreed date for Closing) in which
case the provisions of Schedule 6 shall apply to Closing as so deferred,
but provided such deferral may only occur once.

 

6.7                            Books and Records

 

The Purchasers
shall and shall procure that the Group Companies shall, retain for a period of
twelve months from Closing or such longer period as is necessary for the Seller
to close its books and file its tax returns for 2004 and 2005 and allow the
Seller or the Seller’s representatives to have reasonable access (at all
reasonable times during normal business hours and on reasonable advance notice)
to (and at the Seller’s expense, copies of) the books, records and documents
relating to the Group, to the extent that they relate to the period prior to
Closing and to the extent reasonably required by the Seller to comply with any
relevant law or regulations or in connection with the preparation and agreement
of any accounting, tax or other records.

 

6.8                            Schiphol Lease

 

6.8.1                   From the date of this Agreement, the
Seller shall use its reasonable endeavours to procure the assignment of the
rights and obligations under the Schiphol Lease to a third party, such
assignment to constitute a full release of the relevant Group Company from all
rights and obligations under the Schiphol Lease.  The Seller shall keep the Purchasers informed
as to efforts undertaken pursuant to this Clause 6.8.1 and shall promptly
provide notice to the Purchasers of each Schiphol Assignment.  The Purchasers shall provide all such reasonable
assistance and information as the Seller may reasonably require in connection
with any proposed Schiphol Assignment. 
The Seller shall indemnify and keep indemnified the Purchasers against
all Losses incurred by the Purchasers or the relevant Group Company in relation
to the Schiphol Lease or any Schiphol Assignment.

 

6.8.2                   At all times prior to the assignment of
all of the rights and obligations of the relevant Group Company under the
Schiphol Lease in accordance with Clause 6.8.1, the Seller shall on the
quarterly due date for such payment pay (or procure the timely payment of) the
Quarterly Lease Payment Amount, less all amounts payable by a third party
pursuant to a Schiphol Assignment.  Such
amounts shall be paid to the Schiphol Lessor in accordance with the terms of
the Schiphol Lease.

 

6.8.3                   Upon any third party
entering into a Schiphol Assignment, the Purchasers shall promptly pay to the
Seller (or procure the payment of) an amount equal to the Deferred Amount
multiplied by a fraction, the numerator of which is aggregate value of all rent
payments to be made pursuant to the terms of the Schiphol Assignment to the
expiration date of the Schiphol Lease and the denominator of which is the
aggregate value of all rent payments to be made pursuant to the terms of the
Schiphol Lease until its expiration date.

 

23

 

6.8.4                   Any such payment by the
Purchasers shall be made in US dollars. 
Any such payment shall be treated as a reduction of the Deferred Amount,
until the Deferred Amount shall have been reduced to zero.  At such time, subject to release of all
restrictions over the Blocked Account, the Purchasers shall cooperate with and,
at the Sellers cost, provide all such reasonable assistance as the Seller may
reasonably require in connection with the release of the Blocked Amount from
the Blocked Account by the Schiphol Lessor to the order of the Seller.

 

7                                      Post-Closing Obligations

 

7.1                            Indemnities

 

7.1.1                   Indemnity by Relevant
Purchasers against Assumed Liabilities

 

The Relevant
Purchasers shall indemnify and keep indemnified the Seller against:

 

(i)                                  all Assumed Liabilities and any
Liability of the Relevant Purchasers and/or any other person incurred in the
course of carrying on the business of the Group after Closing including, for
the avoidance of doubt, any such Liability which is or is deemed to be or
becomes a Liability of the Seller by virtue of any applicable law; and

 

(ii)                               any Losses which the Seller may suffer
by reason of the Seller taking any reasonable action to avoid, resist or defend
against any Liability referred to in Clause 7.1.1(i),

 

provided that the
Relevant Purchasers shall not be liable under this Clause 7.1.1 to the extent
the Relevant Purchasers have a valid claim against the Seller under this
Agreement in respect of the Liability in question.

 

7.1.2                   Indemnity by Seller
against Excluded Liabilities

 

The Seller shall
indemnify and keep indemnified the Relevant Purchasers against:

 

(i)                                  any Liability of the Seller which is
not an Assumed Liability including any such Liability which is deemed to be, or
becomes, a Liability of the Relevant Purchasers by virtue of any applicable law
and which is not otherwise assumed by the Relevant Purchasers under this
Agreement or any Local Transfer Document; and

 

(ii)                               any Losses which the Relevant Purchasers
may suffer by reason of either of the Purchasers taking any reasonable action
to avoid, resist or defend against any Liability referred to in Clause 7.1.1(i).

 

Provided that the
Seller shall not be liable under this Clause 7.1.2 to the extent that the
Seller has a valid claim against the Relevant Purchasers under this Agreement
in respect of the Liability in question.

 

7.2                            Conduct of Claims

 

7.2.1                   Assumed Liabilities

 

(i)                                  If the Seller becomes aware after
Closing of any claim against it which constitutes or may constitute an Assumed
Liability, the Seller shall as soon as reasonably practicable (but in any event
within such period as will afford the Relevant Purchasers reasonable
opportunity of requiring the Seller in

 

24

 

question to lodge
a timely appeal) give written notice thereof to the Relevant Purchasers and
shall not admit, compromise, settle, discharge or otherwise deal with such
claim without the prior agreement of the Relevant Purchasers.

 

(ii)                               The Seller shall take such action as
the Relevant Purchasers may reasonably request to avoid, dispute, resist,
appeal, compromise, defend or mitigate any claim which constitutes or may
constitute an Assumed Liability subject to the Seller being indemnified and
secured to its reasonable satisfaction by the Relevant Purchasers against all
Losses which may thereby be incurred. In connection therewith the Seller shall
make or procure to be made available to the Relevant Purchasers or their duly
authorised agents on reasonable notice during normal business hours all
relevant books of account, records and correspondence relating to the Group
which have been retained by the Seller (and shall permit the Relevant
Purchasers to take copies thereof at the Relevant Purchasers’ expense) for the
purposes of enabling the Relevant Purchasers to ascertain or extract any
information relevant to the claim.

 

7.2.2                   Excluded Liabilities
etc.

 

(i)                                  If the Relevant Purchasers become aware
after Closing of any claim which constitutes or may constitute an Excluded
Liability or which could give rise to a liability for a member of the
Purchasers’ Group in respect of which it is entitled to be indemnified by the
Seller, the Relevant Purchasers shall as soon as reasonably practicable (but in
any event within such period as will afford the Seller reasonable opportunity
of requiring the Relevant Purchasers to lodge a timely appeal) give written
notice thereof to VIA Inc. and shall not admit, compromise, settle, discharge
or otherwise deal with such claim without the prior agreement of VIA Inc.

 

(ii)                               The Relevant Purchasers shall take such
action as VIA Inc. may reasonably request to avoid, dispute, resist, appeal,
compromise, defend or mitigate any claim which constitutes or may constitute an
Excluded Liability or other liability in respect of which the Relevant
Purchasers are entitled to be indemnified subject to the Relevant Purchasers
being indemnified and secured to their reasonable satisfaction by the Seller
against all Losses which may thereby be incurred. In connection therewith the
Relevant Purchasers shall make or procure to be made available to the Seller or
its duly authorised agents on reasonable notice during normal business hours
all relevant books of account, records and correspondence relating to the Group
which are in the possession of the Relevant Purchasers (and shall permit the
Seller to take copies thereof at the Seller’s expense) for the purposes of
enabling the Seller to ascertain or extract any information relevant to the
claim.

 

7.3                            Release of Guarantees etc.

 

The provisions of
Schedule 8 shall apply.

 

25

 

7.4                            The Seller’s Continuing Obligations

 

Notwithstanding
Closing, the Seller shall so far as reasonably practicable and for a period not
exceeding three months after Closing:

 

7.4.1                   procure that senior executives of VIA
Inc. respond to inquiries and provide reasonable assistance and information as
they may reasonably require relating to the Group, its employees (including for
the avoidance of doubt, the Relevant Employees), customers and suppliers, its
current contracts and engagements and its trade debtors and trade creditors and
pass on any trade enquiry which the Seller receives, provided that such
requests do not impose a material burden on such individual’s working time;

 

7.4.2                   subject to Schedule 5, retain or
procure the retention of, records and documents of the Group to the extent they
relate to the Group for the period prior to Closing and allow the Relevant
Purchasers reasonable access on reasonable prior written notice to such books,
records and documents, including the right to take copies at the Relevant
Purchasers’ expense;

 

7.4.3                   in addition to the Seller’s obligations
in Schedule 3, if any right or asset used in the business of the Group
immediately prior to Closing (other than any right or asset expressly excluded
from the sale under this Agreement) has not been transferred to the Relevant
Purchasers, transfer such right or asset (and any related liability which is an
Assumed Liability) to the extent legally possible and at the Relevant
Purchasers’ cost as soon as practicable to a member of the Purchasers’ Group
nominated by the Relevant Purchasers and reasonably acceptable to the Seller.

 

7.5                            The Purchaser’s Continuing Obligations

 

Notwithstanding
Closing, the Purchaser shall so far as reasonably practicable and for a period
not exceeding six months after Closing:

 

7.5.1                   permit the
Sellers’ staff to continue to use, as currently configured, Microsoft Exchange e-mail
server functionality and storage capacity and, where applicable, network file
and print server functionality for the Seller’s headquarters in The Netherlands;
and

 

7.5.2                   procure that
the Group Companies provide such reasonable assistance and information as the
Sellers may reasonably require for the purpose of closing the Sellers’
financial books and filing its final tax returns,

 

provided that
nothing in this Clause 7.5 shall require the Purchasers or any Group Company to
incur external costs in relation thereto.

 

8                                      Warranties

 

8.1                            Seller’s Warranties

 

8.1.1                   The Seller warrants to the Relevant
Purchasers that the statements set out in Schedule 7 are true and accurate
as of the date of this Agreement.

 

8.1.2                   Each of the Warranties shall be
separate and independent and shall not be limited by reference to any other
paragraph of Schedule 7.  The Warranties shall not in any respect be
extinguished or affected by Closing.

 

26

 

8.1.3                   Each Warranty, except for those set out
in paragraphs 1.1, 2, 4.3, 5.1.1 and 15 
in Schedule 7, shall be deemed to be qualified by reference to the
actual knowledge of Matt Stuart Nydell, Raymond Walsh and Joe Correia, having
made reasonable enquiries of the managing directors and the finance directors
of each of the Group Companies with regard to the subject matter of the
relevant Warranty.

 

8.2                            Seller’s Disclosures

 

8.2.1                   The Warranties are subject to the
matters which are fully and fairly disclosed in this Agreement, the Disclosure
Letter or the Data Room, provided that such matters are disclosed in sufficient
detail to enable a reasonable purchaser to identify the nature of the matter
disclosed and provided that the Seller is under no obligation to have brought
to the Relevant Purchasers’ attention any specific matter documented in the
Data Room.  For the avoidance of doubt,
the Purchasers acknowledge that disclosure of a document in the Data Room shall
not be regarded as not fairly disclosed by reason of such document being written
in a language other than English.

 

8.2.2                   The parties agree that each document in
the Data Room at the date of this Agreement shall be considered to be
disclosed against each of the Warranties provided that such matters are fully
and fairly disclosed in sufficient detail to enable a reasonable purchaser to
identify the nature of the matter disclosed.

 

8.3                            Updating of the Warranties to Closing

 

Subject to Clause
8.2, including without limitation the Disclosure Letter and the Data Room as
updated as at Closing, the Seller further warrants to the Relevant Purchasers
that the Warranties will be true and accurate at Closing as if they had been
repeated at Closing by reference to the facts and circumstances then existing
and on the basis that any reference in the Warranties, whether express or
implied, to the date of this Agreement is substituted by a reference to the
Closing Date provided always that the Purchasers’ sole remedy for any breach of
any such Warranties shall be as set out in Clause 5.5.1.

 

8.4                            The Seller’s Waiver of Rights against the Group

 

8.4.1                   Save in the case of fraud, the Seller
undertakes to the Relevant Purchasers and to the Group Companies and their
respective directors, officers and agents and to the Relevant Employees to
waive any rights, remedies or claims which it may have in respect of any
misrepresentation, inaccuracy or omission in or from any information or advice
supplied or given by the Group Companies or their respective directors,
officers or agents or the Relevant Employees in connection with assisting the
Seller in the giving of any Warranty or the preparation of the Disclosure
Letter.

 

8.4.2                   Save in the case of fraud after
Closing, the Seller (on behalf of itself and all its group companies not being
transferred to the Purchasers under this Agreement) hereby irrevocably waives
any and all claims, rights and entitlements however and whensoever arising it
may have against any of the Group Companies.

 

8.5                            Relevant Purchasers’ Warranties

 

8.5.1                   The Relevant Purchasers warrant to the
Seller that each of the following warranties (the “Relevant Purchasers’ Warranties”) is true and accurate in all

 

27

 

respects on the
date of this Agreement and shall continue to remain true and accurate in all
respects up to and including the Closing Date as if they had been repeated at
Closing by reference to the facts and circumstances then existing and on the
basis that any reference in the Relevant Purchasers’ Warranties, whether
express or implied, to the date of this Agreement is substituted by a reference
to the Closing Date:

 

(i)                                  Mawlaw 653 Limited is duly organised,
validly existing and duly incorporated under the laws of England and Wales;

 

(ii)                               Interoute Communications Holdings SA is
duly organised, validly existing and duly incorporated under the laws of
Luxembourg;

 

(iii)                            the Relevant Purchasers have full
corporate power and authority to enter into and perform their obligations under
this Agreement and each document to be entered into pursuant hereto and all
actions have been taken by them which are necessary for them to execute and
perform their obligations under this Agreement and each document to be entered
into pursuant hereto;

 

(iv)                           the execution of and performance by the
Relevant Purchasers of their obligations under this Agreement and each document
to be entered into pursuant hereto have been duly authorised by their boards of
directors and by all other necessary corporate action; and

 

(v)                              the Relevant Purchasers’ obligations
under this Agreement and each document to be executed by them at or before each
Closing are, or when the relevant document is executed, will be valid and
binding on the Relevant Purchasers in accordance with its terms; and

 

(vi)                           the Relevant Purchasers have or will
have at each Closing sufficient funds to pay the Purchase Price attributable to
such Closing.

 

8.5.2                   The Relevant Purchasers’ Warranties
shall not in any respect be extinguished or affected by Closing.

 

8.5.3                   Each of the Relevant Purchasers’
Warranties shall be construed as a separate and independent Warranty and shall
not be limited or restricted in its scope by reference to, or inference from
any other term of another Relevant Purchasers’ Warranty or any term of this
Agreement.

 

8.6                            Purchaser’s Confirmation and Waiver

 

8.6.1                   Each of the Relevant Purchasers
warrants to the Seller that as at the time of execution of this Agreement with
regard to the Group Companies, it is not aware of any fact or matter falling
within those events set out in Clause 5.5.1 or Clause 6.6.1 having occurred and
continuing in respect of a Group Company.

 

8.6.2                   Without prejudice to any of the rights
of the Purchasers arising under any of the Transaction Documents, and save in
the case of fraud, the Purchasers (on behalf of the Group Companies being
transferred under this Agreement) hereby irrevocably waive any and all claims,
rights and entitlements however and wheresoever arising any such Group
Companies may have against the Seller.

 

28

 

9                                      Limitation of Seller’s Liability

 

9.1                            Time Limitation for Claims

 

Notwithstanding
any other provisions of this Agreement or the Facility Agreement to the
contrary, the Seller shall not be liable for breach of any Warranty in respect
of any claim:

 

9.1.1                   unless a notice of the claim is given
by the Relevant Purchaser to VIA Inc. including reasonable details of the claim
and so far as practicable an estimate of the amount of any claim within three
months following Closing; and

 

9.1.2                   which claim is not satisfied, settled
or withdrawn within six months of the date of notification of the claim under
this Clause 9.1.1 unless proceedings in respect of it have been commenced by
being both issued and served on the Seller,

 

except that there
shall be no time limitation for giving notice of any claim under paragraphs 1.1
and 4.3 of Schedule 7.

 

9.2                            Aggregate Minimum Claims

 

9.2.1                   The Seller shall not be liable under
this Agreement for breach of any Warranty in respect of any claim unless the
aggregate amount of all claims for which the Seller would otherwise be liable
under this Agreement for breach of any Warranty (disregarding the provisions of
this Clause 9.2) exceeds $1,000,000.

 

9.2.2                   Where the liability agreed or
determined in respect of all claims exceeds $1,000,000 subject as provided
elsewhere in this Clause 9, the Seller shall be liable for the aggregate amount
of all claims as agreed or determined.

 

9.3                            Maximum Liability

 

The aggregate liability of the
Seller in respect of any claim under this Agreement and all documents to be
entered into pursuant hereto shall not exceed 33 per cent. of the Purchase
Price.

 

9.4                            Matters Arising Subsequent to this Agreement

 

9.4.1                   The Seller shall not be liable under
this Agreement for breach of any Warranty in respect of any matter, act,
omission or circumstance (or any combination thereof), including the
aggravation of a matter or circumstance, to the extent that the same would not
have occurred but for:

 

(i)                                  Agreed matters

 

any matter or
thing done or omitted to be done pursuant to and in compliance with this
Agreement or any Local Transfer Document or otherwise at the request in writing
or with the approval in writing of the Purchaser;

 

(ii)                               Changes in legislation

 

(a)                        the passing of, or any change in, after
Closing of any law, rule, regulation or administrative practice of any
government, governmental department, agency or regulatory body including
(without prejudice to the generality of the foregoing) any increase in the
rates of Taxation or any imposition of Taxation or any withdrawal

 

29

 

of relief
from Taxation not actually (or prospectively) in effect at the date of Closing;
or

 

(b)                       any change after Closing of any
generally accepted interpretation or application of any legislation.

 

9.5                            Insurance

 

The Seller shall
not be liable under this Agreement or any Local Transfer Document for breach of
any Warranty to the extent that the Losses in respect of which such claim is
made (i) are covered by a policy of insurance and payment is made by the insurer to a Group Company or (ii) would
have been covered under a policy of insurance of a Group Company in force at
the date of this Agreement.

 

9.6                            Mitigation

 

Nothing in this
Agreement shall restrict or limit the Purchasers’ general obligation at law to
mitigate a loss which it may incur as a result of a matter giving rise to or
which may give rise to a claim under this Agreement.

 

9.7                            Double Claims

 

The Purchasers
shall not be entitled to recover from the Seller under this Agreement more than
once in respect of the same Losses suffered.

 

10                               Intellectual Property

 

10.1                     Prohibition on Use

 

Subject to Clause
10.2, the Seller shall not, from Closing, use or authorise any third party to
use:

 

10.1.1            any Business Intellectual Property
transferred to the Relevant Purchaser or a Group Company; or

 

10.1.2            any Group Intellectual Property owned
by a Group Company,

 

in relation to or
in connection with any activities of the Seller.

 

10.2                     Seller’s Name

 

Notwithstanding
Clause 10.1, the Seller shall be permitted to continue using the VIA NET.WORKS
trade mark until the earlier to occur of (i) the date on which trading of
VIA Inc.’s common stock ceases and (ii) VIA Inc. having completed a
distribution to the VIA Shareholders. Within 20 days of the expiry of such
period, the Seller shall change its name so that it does not incorporate VIA
NET.WORKS, any other trade mark or name belonging to a Relevant Purchaser or a
Group Company or anything confusingly similar thereto.

 

10.3                     Power of attorney

 

The Seller hereby
appoints the Purchaser from the Closing Date as its attorney for the purposes
of executing all documents and performing all acts necessary to give full
effect to the assignment of the Business Intellectual Property to the Relevant
Purchaser or a Group Company pursuant to Clause 2.3.1.

 

30

 

11                               Confidentiality

 

11.1                     Announcements and confidentiality

 

11.1.1            Subject to Clauses 4.2 and 11.1, no
press or public announcements, circulars or communications relating to this
Agreement or the subject matter of it shall be made or sent by any of the
parties without the prior written approval of the other parties.

 

11.1.2            Any party may make press or public
announcements or issue a circular or communication concerning this Agreement or
the subject matter of it if required by law or by any securities exchange or
regulatory or governmental body to which that party is subject provided that
the party making it shall use all reasonable endeavours to consult with the
other parties prior to its making or despatch and shall, so far as may be
reasonable, take account of the comments of the other parties with respect to
its content and the timing and manner of its making or despatch.

 

11.1.3            Subject to Clause 11.1.4, all of the
parties shall treat as strictly confidential all information received or
obtained as a result of entering into or performing this Agreement which
relates to:

 

(i)                                  the provisions of this Agreement, or
any document or agreement entered into pursuant to this Agreement;

 

(ii)                               the negotiations relating to this
Agreement; or

 

(iii)                            any of the other parties.

 

11.1.4            Any of the parties may disclose
information referred to in Clause 11.1.3 which would otherwise be confidential
if and to the extent the disclosure is:

 

(i)                                  required by the law of any relevant
jurisdiction;

 

(ii)                               required by any securities exchange or
regulatory or governmental body to which any of the parties is subject or
reasonably submits, wherever situated, (including, without limitation, Euronext
or the SEC), whether or not the requirement for disclosure has the force of law
(the parties acknowledging that the rules of the SEC will require
disclosure of the events leading up to this Agreement and all of its terms,
that this Agreement will be filed with the SEC and that this Agreement will be
available to members of the public following its filing with the SEC
(including, for the avoidance of doubt, the proxy statement to be filed);

 

(iii)                            disclosed to the professional advisers,
auditors or bankers of that party or any other member of the VIA Group (in the
case of the Seller) or any other member of the Purchaser’s Group (in the case
of the Purchaser) who need to know the information for the purposes of the
transaction contemplated by this Agreement subject to the condition that the
party making the disclosure shall procure that those persons comply with Clause
11.1.3 as if they were parties to this Agreement;

 

(iv)                           disclosed to the officers or employees
of that party or any other member of the VIA Group (in the case of the Seller)
or any other member of the Purchaser’s Group (in the case of the Purchaser) who
need to know the information for the purposes of the transactions effected or
contemplated

 

31

 

by this Agreement
subject to the condition that the party making the disclosure shall procure
that those persons comply with Clause 11.1.3 as if they were parties to this
Agreement;

 

(v)                              of information that has already come
into the public domain through no fault of that party;

 

(vi)                           of information of the kind referred to
in Clause 11.1.4(i) and (ii) which is already lawfully in the
possession of that party as evidenced by its or its professional advisers’
written records and which was not acquired directly or indirectly from the
other party to whom it relates in breach of Clause 11.1.3; or

 

(vii)                        approved by all of the other parties in
writing in advance,

 

provided that any information disclosed
pursuant to Clause 11.1.4(i) or (ii) shall be disclosed only after
notice to the other parties and the disclosing party shall take reasonable
steps to co-operate with the other parties regarding the manner of that
disclosure.

 

The restrictions contained in this Clause
shall continue to apply after the rescission or termination of this Agreement
and, following Closing, shall continue to apply without limit in time.

 

11.2                     Confidentiality Agreement

 

The
Confidentiality Agreement shall cease to have any force or effect from the date
of this Agreement.

 

12                               Other Provisions

 

12.1                     Further Assurances

 

Each of the
parties shall at its own cost from time to time execute such documents and
perform such acts and things as any party may reasonably require to transfer
the Shares and VIA Operations to the Relevant Purchaser and to give any party
the full benefit of this Agreement and any Local Transfer Document.

 

12.2                     Whole Agreement

 

12.2.1            This Agreement contains the whole
agreement between the parties relating to the subject matter of this Agreement
at the date hereof to the exclusion of any terms implied by law which may be
excluded by contract and supersedes any previous written or oral agreement
between the parties in relation to the matters dealt with in this Agreement.

 

12.2.2            In Clauses 12.2.1, 12.3 and 12.7.2, “this
Agreement” includes the Disclosure Letter, the Local Transfer Documents, the
Finance Documents and all documents entered into pursuant to this Agreement.

 

12.3                     Relevant Purchasers’ Liability

 

The maximum
aggregate liability of the Purchasers for all and any breaches of this Agreement
and/or the Transaction Documents shall in total not exceed the Aggregate
Purchaser Liability.

 

32

 

12.4                     Reasonableness

 

Each of the
parties confirms that it has received independent legal advice relating to all
the matters provided for in this Agreement and agrees that the provisions of
this Agreement are fair and reasonable.

 

12.5                     Third Party Rights

 

A person who is
not a party to this Agreement has no right under the Contracts (Rights of Third
Parties) Act 1999 to enforce any term of, or enjoy any benefit under, this
Agreement.

 

12.6                     Variation

 

No variation of
this Agreement shall be effective unless in writing and signed by or on behalf
of each of the parties.

 

12.7                     Costs

 

Except as
otherwise expressly provided in this Agreement:

 

12.7.1            the Seller shall bear all costs
incurred by it in connection with the preparation, negotiation and execution of
this Agreement and the Finance Documents and the sale of the Group;

 

12.7.2            the Purchasers shall bear all such
costs incurred by them in connection with the preparation, negotiation and
execution of this Agreement and the purchase of the Group.

 

12.8                     Interest

 

If any party
defaults in the payment when due of any sum payable under this Agreement,
(howsoever determined) the liability of that party shall, save as otherwise
expressly provided, be increased to include interest on such sum from the date
when such payment is due until the date of actual payment (as well after as
before judgment) at a rate per annum of two per cent above the base rate of
LIBOR for monthly deposits. Such interest shall accrue from day to day.

 

12.9                     Grossing-up of Indemnity Payments, VAT

 

12.9.1            All sums payable under this Agreement
pursuant to an indemnity, compensation or reimbursement provision shall be paid
free and clear of all deductions, withholdings, set-offs or counterclaims
whatsoever save only as may be required by law. If any deductions or
withholdings are required by law the party making the payment shall (except to
the extent such sums comprise interest) be obliged to pay to the other party
such sum as will after such deduction or withholding has been made leave the
other party with the same amount as it would have been entitled to receive in
the absence of any such requirement to make a deduction or withholding.

 

12.9.2            Where any payment is made under this
Agreement pursuant to an indemnity, compensation or reimbursement provision and
that sum is subject to a charge to Taxation in the hands of the recipient
(other than Taxation attributable to a payment being properly treated as an
adjustment to the consideration paid by the Relevant Purchaser for the Group)
the sum payable shall be increased to such sum as will ensure that after
payment of such Taxation (and after giving credit for any tax relief

 

33

 

available to the
recipient in respect of the matter giving rise to the payment) the recipient
shall be left with a sum equal to the sum that it would have received in the
absence of such a charge to taxation.

 

12.9.3            Where any sum constituting an
indemnity, compensation or reimbursement to any party to this Agreement (the “Party”) is paid to a person other than the
Party but is treated as taxable in the hands of the Party, the payer shall
promptly pay to the Party such sum as shall reimburse the Party for all
Taxation suffered by it in respect of the payment (after giving credit for any
tax relief available to the Party in respect of the matter giving rise to the
payment).

 

12.10              Permitted assignment and nomination of Purchasers

 

12.10.1     Except as otherwise expressly provided
in this Agreement, the Relevant Purchasers may, with the prior written consent
of the Seller (such consent not to be unreasonably withheld, delayed or
conditioned), assign to a third party purchaser of any of the Group Companies,
and without the consent of the Seller assign to a wholly-owned member of the
Purchaser’s Group, the benefit of all or any of the Seller’s obligations under
this Agreement provided that the maximum liability of any of any party
hereunder for breach of any obligation under this Agreement or under any
indemnity contained in or entered into pursuant to this Agreement shall be
limited to the liability which would have arisen in the absence of any such
assignment by the Relevant Purchasers.

 

12.10.2     The Purchaser shall be entitled by
giving not less than two Business Days’ notice before the Closing to nominate a
wholly-owned subsidiary or holding company to assume the rights and obligations
of a Relevant Purchaser under this Agreement provided that the Purchaser shall
remain jointly and severally liable under this Agreement.

 

12.11              Notices

 

12.11.1     Any notice or other communication in
connection with this Agreement (each, a “Notice”)
shall be:

 

(i)                                  in writing in English;

 

(ii)                               delivered by hand, fax, registered post
or by courier using an internationally recognised courier company.

 

12.11.2     A Notice to the Seller shall be sent to
the following address, or such other person or address as the Seller may notify
to the Relevant Purchasers from time to time:

 

VIA NET.WORKS Inc

H. Walaardt Sacrestraat 401-403

1117 BM Schiphol

The Netherlands

 

	
  Fax:

  	
  +31 205 020 0001

  
	
   

  	
   

  
	
  Attention:

  	
  Matt Stuart Nydell (Senior Vice President and
  General Counsel

  
	
   

  	
  and Secretary)

  

 

34

 

with a copy to:

 

Hogan &
Hartson

One Angel Court

London EC2R 7HJ

United Kingdom

 

	
  Fax:

  	
  +44 20 7367 0220

  
	
   

  	
   

  
	
  Attention:

  	
  John M. Basnage

  

 

12.11.3     A Notice to the Relevant Purchasers
shall be sent to the following address, or such other person or address as the
Relevant Purchasers may notify to the Seller from time to time:

 

Interoute
Communications Holdings SA

Walbrook Building,

195 Marsh Wall,

London E14 9SG

United Kingdom

 

	
  Fax:

  	
  +44 20 7025 9855

  
	
   

  	
   

  
	
  Attention:

  	
  General Counsel

  

 

12.11.4     A Notice shall be effective upon
receipt and shall be deemed to have been received:

 

(i)                                  at the time of delivery, if delivered
by hand, registered post or courier;

 

(ii)                               at the time of transmission in legible
form, if delivered by fax.

 

12.12              Invalidity

 

12.12.1     If any provision in this Agreement
shall be held to be illegal, invalid or unenforceable, in whole or in part, the
provision shall apply with whatever deletion or modification is necessary so
that the provision is legal, valid and enforceable and gives effect to the
commercial intention of the parties.

 

12.12.2     To the extent it is not possible to
delete or modify the provision, in whole or in part, under Clause 12.12.1, then
such provision or part of it shall, to the extent that it is illegal, invalid
or unenforceable, be deemed not to form part of this Agreement and the
legality, validity and enforceability of the remainder of this Agreement shall,
subject to any deletion or modification made under Clause 12.12.1, not be
affected.

 

12.13              Counterparts

 

This Agreement
may be entered into in any number of counterparts, all of which taken together
shall constitute one and the same instrument. Any party may enter into this
Agreement by signing any such counterpart.

 

12.14              Governing Law and Submission to Jurisdiction

 

12.14.1     This Agreement and the documents to be
entered into pursuant to it, save as expressly referred to therein, shall be
governed by and construed in accordance with English law.

 

12.14.2     Each of the parties irrevocably agrees
that the courts of England are to have exclusive jurisdiction to settle any
dispute which may arise out of or in connection

 

35

 

with this
Agreement and the documents to be entered into pursuant to it and that
accordingly any proceedings arising out of or in connection with this Agreement
and the documents to be entered into pursuant to it shall be brought in such
courts. Each of the parties irrevocably submits to the jurisdiction of such courts
and waives any objection to proceedings in any such court on the ground of
venue or on the ground that proceedings have been brought in an inconvenient
forum.

 

12.15              Appointment of Process Agent

 

12.15.1     The Seller hereby irrevocably appoints
Hogan & Hartson Corporate Services Limited as its agent to accept
service of process in England in any legal action or proceedings arising out of
this Agreement, service upon whom shall be deemed completed whether or not
forwarded to or received by the Seller.

 

12.15.2     The Seller agrees to inform the
Purchasers in writing of any change of address of such process agent within 28
days of such change.

 

12.15.3     If such process agent ceases to be able
to act as such or to have an address in England, the Seller irrevocably agrees
to appoint a new process agent in England acceptable to the Purchasers and to
deliver to the Purchasers within 14 days a copy of a written acceptance of
appointment by the process agent.

 

12.15.4     Nothing in this Agreement shall affect
the right to serve process in any other manner permitted by law or the right to
bring proceedings in any other jurisdiction for the purposes of the enforcement
or execution of any judgment or other settlement in any other courts.

 

36

 

In
witness
whereof the parties hereto have signed this Agreement as of the date set forth
above.

 

 

	
  SIGNED as a DEED by and

  	
   

  	
   

  
	
  on behalf of VIA NET.WORKS, Inc.:

  	
  /s/

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by and

  	
   

  	
   

  
	
  on behalf of MAWLAW 653
  Limited

  	
  /s/

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by and

  	
   

  	
   

  
	
  on behalf of Interoute Communications

  Holdings SA:

  	
  /s/

  	
   

  

 

37

 

Schedule 1

Part 1

Details of the Shares etc. 

(Clause 1.1)

 

	
  (1)

  	
   

  	
  (2)

  	
   

  	
  (3)

  	
   

  	
  (4)

  
	
  Name

  of Share Seller

  	
   

  	
  Name of

  Company

  	
   

  	
  Shares

  	
   

  	
  Name of Share

  Purchaser

  
	
  VIA NET.WORKS, Inc.

  	
   

  	
  VIA NET.WORKS Holdco, Inc.

  	
   

  	
  1,000 shares

  	
   

  	
  MAWLAW 653 Limited

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  VIA NET.WORKS, Inc

  	
   

  	
  DebtCo

  	
   

  	
  1 share

  	
   

  	
  MAWLAW 653 Limited

  

 

38

 

Schedule 2

Companies and Subsidiaries

 

	
  1

  	
  Particulars of the
  Companies

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name of
  Company:

  	
  VIA NET.WORKS Holdco, Inc.

  
	
   

  	
  Registered Number: 

  	
  n/a

  
	
   

  	
  Registered Office: 

  	
  1013 Centre Road, Wilmington,
  Delaware 19805, United States

  
	
   

  	
  Date and place of
  incorporation:

  	
  9 July 1999; the State of
  Delaware, United States.

  
	
   

  	
  Issued share capital: 

  	
  1000 shares

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS, Inc.: 1000 shares.

  
	
   

  	
  Directors:

  	
  Matt Stuart Nydell and Raymond
  Walsh

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA Jersey DebtCo 2 Limited

  
	
   

  	
  Registered Office: 

  	
  c/o Professional Trust Company
  Limited, PO Box 274, 36 Hilgrove Street, St. Helier, Jersey, JE4 8TR

  
	
   

  	
  Date and place of incorporation:
  

  	
  to be incorporated on or about 30
  August 2005, Jersey

  
	
   

  	
  Issued share capital: 

  	
  1

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Inc. – 1 share

  
	
   

  	
  Director:

  	
  Matt Nydell

  
	
   

  	
  Secretary:

  	
  Professional Trust Company
  Limited

  

 

39

 

	
  2

  	
  Particulars of
  Subsidiaries

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name of
  Company:

  	
  VIA NET.WORKS Europe Holding
  B.V.

  
	
   

  	
  Registered Number: 

  	
  34115551

  
	
   

  	
  Registered Office: 

  	
  H Walaardt Sacrestraat 401,
  1117 BM Schiphol-Oost, The Netherlands.

  
	
   

  	
  Date and place of incorporation:

  	
  5 May 1999; The
  Netherlands

  
	
   

  	
  Issued share capital: 

  	
  €22,100 divided into 221 shares
  with a par value of €100 each.

  
	
   

  	
  Authorised share capital: 

  	
  €100,000 divided into 1,000
  shares with a par value of €100 each

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Holdco, Inc.:
  221 shares with a par value of €100 per share 

  
	
   

  	
  Director:

  	
  VIA NET.WORKS, Inc.

  
	
   

  	
  Proxy Holders:

  	
  Mike McTighe, John Steele, Jan
  Gesmar-Larsen, Malcolm Bell, Karen Slatford

  
	
   

  	
  Authorised Signatories:

  	
  Rebecca Markovits

  

 

	
   

  	
  Name of Company: 

  	
  PSINet Netherlands B.V.

  
	
   

  	
  Registered Number: 

  	
  33294922

  
	
   

  	
  Registered Office: 

  	
  Siriusdreef
  30-36

  2132 WT HOOFDDORP

  The Netherlands

  
	
   

  	
  Date and place of
  incorporation: 

  	
  13 August 1997; The
  Netherlands

  
	
   

  	
  Issued share capital: 

  	
  NLG 40,000 divided into 40 ordinary
  shares of NLG 1,000 each

  
	
   

  	
  Authorised share capital: 

  	
  NLG 200,000 divided into 200
  ordinary shares of NLG 1,000 each

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Holdco, Inc: 40
  shares

  
	
   

  	
  Director: 

  	
  VIA NET.WORKS Europe Holding
  B.V.

  
	
   

  	
  Proxy Holder: 

  	
  Alexander Johan Marie Scholten
  (resigned effective 1 September 2005)

  

 

	
   

  	
  Name of
  Company: 

  	
  PSINet Belgium BVBA/SPRL

  
	
   

  	
  Registered Number: 

  	
  0460.461.275

  
	
   

  	
  Registered Office: 

  	
  Medialaan 32, bus 3, 1800
  Vilvoorde, Belgium

  
	
   

  	
  Date and place of
  incorporation: 

  	
  27 March 1997; Belgium

  

 

40

 

	
   

  	
  Issued share capital: 

  	
  €18,550 dividend into 750
  shares without nominal value

  
	
   

  	
  Authorised share capital: 

  	
  €18,550 dividend into 750
  shares without nominal value

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Holdco, Inc: 745
  shares held

  VIA NET.WORKS UK Holding
  Limited:  5 shares held

  
	
   

  	
  Director: 

  	
  James Joseph Henry Demaeght
  (resigned effective 30 September 2005)

  

 

	
   

  	
  Name of
  Company: 

  	
  PSINet Germany GmbH

  
	
   

  	
  Registered Number: 

  	
  Local Court of Munich, HRB
  117930

  
	
   

  	
  Registered Office:

  	
  Munich

  
	
   

  	
  Date and place of
  incorporation:

  	
  10 April 1997; Germany

  
	
   

  	
  Issued share capital: 

  	
  One share in the nominal amount
  of DM 50,000

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Holdco, Inc: one
  share held

  
	
   

  	
  Director: 

  	
  Fred Seibl

  

 

	
   

  	
  Name of
  Company: 

  	
  PSINet Datacenter Germany GmbH

  
	
   

  	
  Registered Number: 

  	
  Local Court of Berlin-Charlottenburg,
  HRB 76192

  
	
   

  	
  Registered Office: 

  	
  Berlin

  
	
   

  	
  Date and place of
  incorporation: 

  	
  10 December 1999; Germany

  
	
   

  	
  Issued share capital: 

  	
  One share in the nominal amount
  of €25,000

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Holdco, Inc.:
  one share held

  
	
   

  	
  Director

  	
  Fred Seibl

  

 

41

 

	
   

  	
  Name of
  Company: 

  	
  bART HOLDING B.V.

  
	
   

  	
  Registered Number: 

  	
  24270496

  
	
   

  	
  Registered Office:

  	
  Science Park Eindhoven 5630
  5692 EN Son; The Netherlands

  
	
   

  	
  Date and place of
  incorporation:

  	
  27 August 1996; The
  Netherlands

  
	
   

  	
  Issued share capital:

  	
  €340,355.16

  
	
   

  	
  Authorised share capital:

  	
  €453,780.22

  
	
   

  	
  Shareholder and shares held:

  	
  VIA NET.WORKS Europe Holding
  B.V.: 340,355.16 shares

  
	
   

  	
  Director:

  	
  VIA NET.WORKS Europe Holding
  B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  Xenovic Holding B.V.

  
	
   

  	
  Registered Number: 

  	
  24271927 

  
	
   

  	
  Registered Office:

  	
  Science Park Eindhoven 5630,
  5692 En Son, The Netherlands 

  
	
   

  	
  Date and place of
  incorporation:

  	
  15 March 1996; The
  Netherlands

  
	
   

  	
  Issued share capital:

  	
  €18,241.96

  
	
   

  	
  Authorised share capital:

  	
  €90,756.04

  
	
   

  	
  Shareholders and shares held:

  	
  Bart Holding B.V.: 100% shares

  
	
   

  	
  Director:

  	
  bART Holding B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  bART
  Noord Nederland B.V.

  
	
   

  	
  Registered Number: 

  	
  020564446 

  
	
   

  	
  Registered Office:

  	
  Science Park 5630, 5692 En Son,
  The Netherlands

  
	
   

  	
  Date and place of
  incorporation:

  	
  21 December 1996; The
  Netherlands

  
	
   

  	
  Issued share capital:

  	
  €18,151.21

  
	
   

  	
  Authorised share capital:

  	
  €90,756.04

  
	
   

  	
  Shareholders and shares held:

  	
  bART Holding B.V.: 100% shares

  
	
   

  	
  Director:

  	
  bART Holding B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  bART
  Midden Nederland B.V.

  
	
   

  	
  Registered Number: 

  	
  24274849 (B-ART Midden
  Nederland)

  

 

42

 

	
   

  	
  Registered Office:

  	
  Science Park 5630, 5692 En Son,
  The Netherlands

  
	
   

  	
  Date and place of
  incorporation:

  	
  14 May 1996; The
  Netherlands

  
	
   

  	
  Issued share capital:

  	
  €18,151.21

  
	
   

  	
  Authorised share capital:

  	
  €90,756.04

  
	
   

  	
  Shareholder and shares held:

  	
  bART Holding B.V.: 100% shares

  
	
   

  	
  Director:

  	
  bART Holding B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  Arameta B.V.

  
	
   

  	
  Registered Number: 

  	
  24272259

  
	
   

  	
  Registered Office:

  	
  Science Park Eindhoven 5630,
  5692 En Son, The Netherlands

  
	
   

  	
  Date and place of incorporation:

  	
  28 January 1997; The
  Netherlands

  
	
   

  	
  Issued share capital:

  	
  €18,151.21

  
	
   

  	
  Authorised share capital:

  	
  €90,756.04

  
	
   

  	
  Shareholder and shares held:

  	
  bART Holding B.V.: sole
  shareholder

  
	
   

  	
  Director:

  	
  bART Holding B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA NET.WORKS España S.L.

  
	
   

  	
  Registration Details:

  	
  Volume 3, 082, Page 186, Section 8,
  Sheet SE 40,794; entry number 1

  
	
   

  	
  Date and place of
  incorporation: 

  	
  13 August 1999; Spain

  
	
   

  	
  Issued share capital: 

  	
  €672,150 divided into 67,215
  shares of €10 each

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.: 67,215 shares

  
	
   

  	
  Directors 

  (Joint and Several):

  	
  Mr. Nathan Wajsman

  Mr. Louis Bonnet 

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA
  NET.WORKS IRU Co. Ltd

  
	
   

  	
  Registered Number: 

  	
  306317

  
	
   

  	
  Registered Office: 

  	
  Arthur Cox Building, Earlsfort
  Terrace, Dublin 2

  
	
   

  	
  Date and place of
  incorporation: 

  	
  6 May 1999: Republic of
  Ireland

  
	
   

  	
  Issued share capital: 

  	
  IR£1.25 divided into 1 share of
  IR£1.25

  
	
   

  	
  Authorised share capital: 

  	
  IR£125,000 euro divided into
  100,000 Ordinary

  

 

43

 

	
   

  	
   

  	
  shares of IR£1.25 euro each

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; 1 share 

  
	
   

  	
  Directors: 

  	
  Alexander French

  Matt Stuart Nydell

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA NET.WORKS UK Holding
  Limited

  
	
   

  	
  Registered Number: 

  	
  03690730

  
	
   

  	
  Registered Office: 

  	
  c/o Hogan & Hartson
  One Angel Court, London EC2R 7HJ

  
	
   

  	
  Date and place of
  incorporation: 

  	
  31 December 1998; England
  and Wales

  
	
   

  	
  Issued share capital: 

  	
  £10 divided into 10 ordinary
  shares of £1.00 each

  
	
   

  	
  Authorised share capital: 

  	
  £1,000.00 divided into 1,000
  shares of £1.00 each

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; 10 shares 

  
	
   

  	
  Directors: 

  	
  Matt Stuart Nydell

  VIA NET.WORKS Europe Holding B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA NET.WORKS France Holding
  SAS

  
	
   

  	
  Registered Number: 

  	
  433 596 228 RCS Paris

  
	
   

  	
  Registered Office: 

  	
  127, rue Amelot, 75011 Paris,
  France

  
	
   

  	
  Date and place of
  incorporation: 

  	
  27 November 2000; Paris

  
	
   

  	
  Share capital: 

  	
  17,326,400 euros divided into
  1,732,640 shares of €10 each

  
	
   

  	
  Members: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; 1,555,800 shares

  VIA NET.WORKS UK Holdings Limited: 176,840 shares 

  
	
   

  	
  Chairman (Président): 

  	
  Nathan Wajsman

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA NET.WORKS Jersey Ltd

  
	
   

  	
  Registered Number: 

  	
  88289

  
	
   

  	
  Registered Office: 

  	
  c/o
  Jordans (C.I.) Limited,
  PO Box 456, Postman House, Hue Street, St Helier, Jersey JE4 5RP

  
	
   

  	
  Date and place of
  incorporation: 

  	
  9 August 2004; Jersey

  

 

44

 

	
   

  	
  Issued share capital: 

  	
  £1000 divided into 100 shares
  of £1 each

  
	
   

  	
  Authorised share capital: 

  	
  £10,000 divided into 10,000
  shares of £1 each

  
	
   

  	
  Shareholders and shares held: 

  	
  VIA NET.WORKS UK Holding
  Limited; 1000 shares held

  
	
   

  	
  Directors: 

  	
  Matt Stuart Nydell

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA
  NET.WORKS Deutschland GmbH

  
	
   

  	
  Registered Number: 

  	
  Local Court of Duisburg, HRB
  7472

  
	
   

  	
  Registered Office: 

  	
  Duisburg

  
	
   

  	
  Date and place of
  incorporation: 

  	
  2 April 1993; Germany

  
	
   

  	
  Issued share capital: 

  	
  DEM 18,822,000.00: divided into
  one share of DEM 18,822,000.00

  
	
   

  	
  Authorised share capital: 

  	
  DEM 18,822,000.00: divided into
  one share of DEM 18,822,000.00

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; one share

  
	
   

  	
  Director: 

  	
  Fred Seibl

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA NET.WORKS Holdco Italy
  S.r.L.

  
	
   

  	
  Registered Number:

  	
  13200500158

  
	
   

  	
  Registered Office:

  	
  Via Turati Filippo 40 Milan

  
	
   

  	
  Date and place of
  incorporation:

  	
  28 July 2000

  
	
   

  	
  Issued share capital:

  	
  €500,000

  
	
   

  	
  Authorised share capital:

  	
  €500,000

  
	
   

  	
  Shareholders and shares held:

  	
  VIA NET.WORKS Europe Holding
  B.V.; 1 quota valued at €495,000

  VIA NET.WORKS UK Limited: 1
  quota valued at €5,000

  
	
   

  	
  Directors:

  	
  Matt Stuart Nydell

  

 

	
   

  	
  Name of
  Company: 

  	
  PSINet France Sarl

  
	
   

  	
  Registered Number: 

  	
  394 332 118 RCS Nanterre

  
	
   

  	
  Registered Office: 

  	
  Tour
  Atlantique - 13ème étage, Place de la Pyramide - 92911 Paris La
  Défense Cedex

  
	
   

  	
  Date and place of
  incorporation: 

  	
  17 March 1994; Paris

  

 

45

 

	
   

  	
  Share capital: 

  	
  373,552.84 euros divided into
  144,138 shares

  
	
   

  	
  Member and shares held: 

  	
  VIA NET.WORKS, France Holdings
  SAS; 144,138 shares held

  
	
   

  	
  Manager (Gérant):

  	
  Nathan Wasjman

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA
  NET.WORKS France S.A.

  
	
   

  	
  Registered Number: 

  	
  408 236 990 RCS Nanterre

  
	
   

  	
  Registered Office: 

  	
  Tour
  Atlantique - 13ème étage, Place de la Pyramide - 92911 Paris La
  Défense Cedex

  
	
   

  	
  Date and place of
  incorporation: 

  	
  17 July 1996; Pontoise

  
	
   

  	
  Share capital: 

  	
  485,412.92 euros divided into
  31,841 shares

  
	
   

  	
  Shareholders and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; 2 shares

  Matt Stuart Nydell: 1 share

  Paulo Baptista: 1 share

  VIA NET.WORKS, France Holding
  SAS; 31,837 shares 

  
	
   

  	
  Chairman of the Board: 

  	
  Paulo Baptista Gomes Carneiro

  
	
   

  	
  Directors: 

  	
  Nathan Wajsman

  Matt Stuart Nydell

  

 

	
   

  	
  Name of
  Company:

  	
  PSINet Switzerland Sarl

  
	
   

  	
  Registered Number: 

  	
  CH-660-2323998-1

  
	
   

  	
  Registered Office: 

  	
  Chemin de l’Epinglier 2, CH-1217
  Meyrin GE.

  
	
   

  	
  Date and place of
  incorporation: 

  	
  18 December 1998;
  Switzerland

  
	
   

  	
  Issued quota capital: 

  	
  CHF 200,000 (no division)

  
	
   

  	
   

  	
   

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; All quota

  
	
   

  	
  Managers: 

  	
  Gérard Cauderay

  James John McCartan

  

 

	
   

  	
  Name of
  Company: 

  	
  VIA NET.WORKS Deutsche Holding
  GmbH

  
	
   

  	
  Registered Number: 

  	
  Local Court of Duisburg, HRB
  9349

  
	
   

  	
  Registered Office: 

  	
  Duisburg

  
	
   

  	
  Date and place of incorporation:
  

  	
  29 September 2000; Germany

  
	
   

  	
  Issued share capital: 

  	
  €25,000; one share

  

 

46

 

	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; one share

  
	
   

  	
  Director: 

  	
  Fred Seibl

  

 

	
   

  	
  Name of Company: 

  	
  VIA NET.WORKS Express B.V.

  
	
   

  	
  Registered Number: 

  	
  34208904

  
	
   

  	
  Registered Office: 

  	
  H. Walaardt Sacrestraat 401,
  1117 BM Schiphol, The Netherlands

  
	
   

  	
  Date and place of
  incorporation: 

  	
  30 November 2004; The
  Netherlands

  
	
   

  	
  Issued share capital: 

  	
  €18,000 divided into 18,000
  ordinary shares of €1 each

  
	
   

  	
  Authorised share capital: 

  	
  €90,000 

  
	
   

  	
  Shareholder and shares held: 

  	
  VIA NET.WORKS Europe Holding
  B.V.; 18,000 shares

  
	
   

  	
  Director: 

  	
  VIA NET.WORKS Europe Holding
  B.V.

  

 

	
   

  	
  Name of
  Company: 

  	
  Unix Support Nederland B.V.

  
	
   

  	
  Registered Number: 

  	
  27152479

  
	
   

  	
  Registered Office: 

  	
  Paul
  van Vlissingenstraat 16, 1096 BK Amsterdam, The Netherlands

  
	
   

  	
  Date and place of
  incorporation: 

  	
  12 February 1996; The
  Netherlands

  
	
   

  	
  Issued share capital: 

  	
  NLG 40,000 divided into 40
  ordinary shares of NLG 1,000 each

  
	
   

  	
  Authorised share capital: 

  	
  NLG 200,000 divided into 200
  ordinary shares of NLG 1,000 each

  
	
   

  	
  Shareholders and shares held: 

  	
  PSINet Netherlands B.V.; 40
  shares 

  
	
   

  	
  Director: 

  	
  VIA NET.WORKS Europe Holding
  B.V.

  
	
   

  	
  Proxy Holder: 

  	
  Alexander Johan Marie Scholten

  

 

47

 

Schedule 3

Contracts

 

1                                      Obligation to obtain Third
Party Consents

 

In relation to any Contract which
is not assignable or transferable (whether by sub-contracting or otherwise)
without a Third Party Consent, this Agreement shall not be construed as an
assignment or an attempted assignment and the Seller and the Relevant
Purchasers shall each use reasonable endeavours both before and after Closing
to obtain all necessary Third Party Consents on terms reasonably acceptable to
the Relevant Purchasers and the Seller as soon as possible and shall keep each
other informed of progress in obtaining such Third Party Consents. The Seller
shall deliver to the Relevant Purchasers, on Closing or, if later, as soon as
possible after receipt, any Third Party Consent and an assignment duly executed
by the appropriate parties.

 

2                                      Obligations until Third Party
Consents are obtained/where Third Party Consents are refused

 

2.1                            Subject to paragraph 2.2, the Relevant
Purchasers shall, from Closing, assume, carry out, perform and discharge the
Seller’s obligations under the Contracts and shall indemnify and keep
indemnified the Seller against any Liability incurred by that Seller or any
member of the VIA Group arising from the failure by the Relevant Purchaser to
assume, carry out, perform or discharge such obligations and against any Losses
which that Seller may suffer by reason of that Seller taking any reasonable
action to avoid, resist or defend any Liability referred to in this paragraph
and provided that the Relevant Purchaser shall only be liable to the extent
such Liability incurred by that Seller is a Liability which is intended to be
assumed by the Relevant Purchaser pursuant to Clause 2.3.2.

 

2.2                            In respect of any Contract, from
Closing until the relevant Third Party Consent has been obtained, as
contemplated by paragraph 1.1, or where the Third Party Consent has been
refused, then until the expiry of 6 months from the date of Closing:

 

2.2.1                   the Seller shall hold on trust such
Contract and any monies, goods or other benefits received under such Contract
to the extent it is lawfully able to do so or, where it is not lawfully able to
do so or where holding on trust is not possible under local law, that Seller
and the Relevant Purchaser shall make such other arrangements between
themselves to provide to the Relevant Purchaser the benefits of the Contract,
including the enforcement at the cost and for the account of the Relevant
Purchaser of all rights of the relevant Seller against any other party thereto;

 

2.2.2                   to the extent that the Relevant
Purchasers are lawfully able to do so, and subject to the Relevant Purchasers
receiving the benefits of the Contract, the Relevant Purchasers shall at their
own expense perform the Seller’s obligations under the Contract as agent or
sub-contractor and shall indemnify the Seller in respect thereof. To the extent
that the Relevant Purchasers are not lawfully able to do so, the Seller shall,
at the Relevant Purchasers’ cost do all such things as the Relevant Purchasers
may reasonably require to enable due performance of the Contract;

 

48

 

provided that, in each case, the
Relevant Purchasers shall indemnify and keep indemnified the Seller or member
of the VIA Group against any liability incurred by the Seller or any member of
the VIA Group as a result of this paragraph 2.2.

 

3                                      Failure to Obtain Third Party
Consents

 

If a Third Party Consent is
refused or otherwise not obtained on terms reasonably acceptable to the
Relevant Purchasers within three (3) months of Closing, references in this
Agreement to the Contracts and the VIA Operations (other than in this paragraph
3) shall be construed as excluding such Contract.

 

4                                      Novation

 

To the extent that the Seller
requests the novation of any Contract to a Group Company or a member of the
Purchaser’s Group, the parties shall use their reasonable endeavours to novate
such Contract pursuant to Clause 2.3 and pending such novation, the provisions
of this Schedule 3 shall apply.

 

49

 

Schedule 4

Employees

 

1                                      Transfer of Employees

 

1.1                            The Seller shall and shall procure that
the VIA Group shall:

 

1.1.1                   transfer the employment of each
Relevant Employee to a Group Company prior to the Closing Date; and

 

1.1.2                   not offer employment to, employ or
otherwise engage any Relevant Employee whose employment is transferred pursuant
to paragraph 1.1.1 above prior to the Closing Date.

 

1.2                            If any employee other than a Relevant
Employee is transferred to a Group Company pursuant to paragraph 1.1 of this Schedule 4:

 

1.2.1                   the Relevant Purchaser shall upon
becoming aware of the transfer of such employee at any time after the Closing
Date immediately or as soon as possible under applicable law terminate such
employee’s employment on terms agreed with the Seller (acting reasonably); and

 

1.2.2                   the Seller shall indemnify the Relevant
Purchasers and keep the Relevant Purchasers indemnified against all Liabilities
relating to or arising out of such termination and reimburse the Relevant
Purchasers for all costs, expenses and emoluments (including, without
limitation, any taxation and employer’s national insurance contributions)
reasonably and properly incurred in employing such employee in respect of his
employment on or after the Closing Date until such employee is terminated
pursuant to paragraph 1.2.1 above.

 

1.3                            The Relevant Purchasers shall be
responsible for all wages, salaries, emoluments and other amounts due or accruing
and taxation and employer’s national insurance contributions payable in respect
of the Relevant Employees with effect from the Closing Date.

 

1.4                            The Seller shall be responsible for all
wages, salaries, emoluments and other amounts due and accruing and taxation and
employer’s National Insurance contributions payable in respect of the Employees
prior to the Closing Date.

 

1.5                            The Seller using its reasonable
endeavours (without cost to the Seller) undertakes that it shall not and shall
procure that no other member of the VIA Group and each Group Company shall not
do or knowingly omit to do anything prior to the Closing Date unless agreed by
the Relevant Purchasers which would cause any Relevant Employee to terminate
their employment with the Seller or any other company in the VIA Group or any
Group Company before the Closing Date or with the Relevant Purchasers on or
after the Closing Date.

 

2                                      Application of
Transfer Provisions

 

2.1                            If any contract of employment,
employment relationship or collective agreement in relation to any employee
(other than a Relevant Employee) employed by the Seller, the other members of
the VIA Group or any Group Company shall have effect as if originally made
between the Relevant Purchasers and such employee (a “Transferred

 

50

 

Employee”) as a result of the Transfer
Provisions (without prejudice to any other rights or remedies which may be
available to the Relevant Purchasers):

 

2.1.1                   the Relevant Purchaser shall, upon
becoming aware of the application of the Transfer Provisions to any such
contract of employment or collective agreement, notify the Seller forthwith and
the Seller or any other member of the VIA Group shall procure that such
employees enter into settlement agreements with the Seller and the Relevant
Purchaser on termination of the Transferred Employee’s employment (on terms
that the Seller is liable for all payments due to such Transferred Employees).
The Relevant Purchaser shall co-operate with the Seller and take all reasonable
steps to assist the Seller in procuring that such Transferred Employees enter
into termination agreements as soon as reasonably practicable following
Closing; and

 

2.1.2                   the Seller shall indemnify the Relevant
Purchasers and keep the Relevant Purchasers indemnified against all Liabilities
relating to or arising out of such termination or the transfer of Transferred
Employees (including any Liability arising out of a failure by the Seller but
excluding any Liability arising out of a failure by the Purchasers to comply
with their obligations under the Transfer Provisions) and shall reimburse the
Relevant Purchasers for all costs, emoluments and expenses (including, without
limitation, any taxation and employer’s national insurance contributions)
reasonably and properly incurred in employing such Transferred Employee in
respect of his employment on or after Closing Date; and

 

2.1.3                   irrespective of whether the Transferred
Employee’s employment is terminated in accordance with paragraph 2.1.1 above,
the Seller will indemnify the Relevant Purchasers and keep the Relevant
Purchasers indemnified against any Liabilities which relate to, arise out of or
are connected with any claims brought against the Relevant Purchaser by any
Transferred Employee other than in each case as a result of breach by the
Relevant Purchaser of its obligations under paragraph 2.1.1 above which are due
solely to any act or omission by the Seller, any other member of the VIA Group
or any Group Company or any event, matter or any other occurrence having its
origin prior to Closing Date and which the Relevant Purchasers incurs in
relation to any contract of employment, or the employment relationship or
collective agreement of one or more of the Transferred Employees pursuant to the
Transfer Provisions and/or in respect of this Agreement.

 

2.2                            The Seller shall indemnify the Relevant
Purchasers and keep the Relevant Purchasers indemnified against all Liabilities
which relate to or arise out of any dismissal by the Seller, the VIA Group or
any Group Company of any employee (not being a Relevant Employee) and which the
Relevant Purchasers may incur pursuant to the provisions of the Transfer
Provisions and this Agreement.

 

3                                      Definitions

 

3.1                            For the purposes of this provision the
terms:

 

“contract
of employment” and “collective
agreement” shall have the same meanings respectively as in the
Transfer Provisions;

 

“Transfer
Provisions” means the Transfer Regulations and Council Directive
2001/23/EC; and

 

51

 

“Transfer
Regulations” means the Transfer of Undertakings (Protection of
Employment) Regulations 1981 (as amended or replaced).

 

52

 

Schedule 5

VAT

 

1                                      The Seller and the Purchasers shall use
all reasonable endeavours (including, where appropriate, the making of an
election or application in respect of VAT to any Tax Authority or entering into
a written agreement) to secure that the sale of the Group so far as carried on
in the European Union is treated as neither a supply of goods nor a supply of
services for the purposes of the laws governing VAT in the relevant member
state.

 

2                                      To the extent that any state outside
the European Union provides for relief or exemption from VAT (or any similar
tax on turnover or added value) on the transfer of a business or a company or
treats such a transaction as being non-taxable for VAT purposes, the Seller and
the Purchasers shall use all reasonable endeavours (including, where
appropriate, the making of an election or application in respect of VAT (or any
similar tax on turnover or added value) to any Tax Authority or entering into a
written agreement) to secure such treatment as regards the sale of the Group
(insofar as the business of the Group is carried on in the relevant state)
under this Agreement.

 

53

 

Schedule 6

Closing Obligations

 

1                                      General Obligations

 

1.1                            The Seller’s Obligations

 

On Closing, the Seller shall
deliver or make available to the Purchasers the following:

 

1.1.1                   evidence of the due fulfilment of the
conditions set out in Clause 4;

 

1.1.2                   evidence that the Seller is authorised
to execute this Agreement and the Local Transfer Documents (including, where
relevant, any notarial deeds referred to in this Schedule); and

 

1.1.3                   deliver to the Purchaser the duly
executed Second Payables Assignment Agreement and the Payables Release
Agreement.

 

1.2                            The Purchaser’s Obligations

 

On Closing, the Purchasers shall
deliver or make available to the Seller:

 

1.2.1                   evidence that the Purchasers are
authorised to execute this Agreement and the Local Transfer Documents
(including, where relevant, any notarial deeds referred to in this Schedule);

 

1.2.2                   immediately following the execution of
the Local Transfer Documents, the Relevant Purchaser shall resolve to appoint
or procure the appointment of those individuals identified by the Purchaser as
Directors of the Group Companies; and

 

1.2.3                   a document in a form reasonably
acceptable to the Seller that the guarantee given by VIA Inc. pursuant to the
Facility Agreement shall have been discharged and shall cease to have any force
and effect and that the Seller shall have no liability whatsoever arising
thereunder.

 

2                                      Transfer of the Shares and
VIA Operations

 

2.1                            General Transfer Obligations

 

On Closing, the Seller and the
Relevant Purchasers shall execute and/or deliver and/or make available Local
Transfer Documents and take such steps as are required to transfer the Shares
and the Business Assets, including but not limited to: an asset transfer
agreement in the Agreed Terms between the Seller and VIA NET.WORKS HOLDCO, Inc.;
a business intellectual property assignment between the Seller and VIA
NET.WORKS HOLDCO, Inc.; and certain assignments of trademarks and
trademark applications in the Agreed Terms.

 

2.2                            Specific Transfer Obligations

 

For the purposes of compliance
with paragraph 2.1, the Seller and Relevant Purchaser shall do the following,
in relation to any Companies and VIA Operations that are incorporated or
located in the jurisdictions listed below:

 

2.2.1                   Belgium

 

(i)                                  No Business Assets are in Belgium.

 

54

 

2.2.2                   Germany

 

(i)                                  In case the transfer of the Business
Assets, liabilities and Contracts requires further acts, notifications or
filings, Seller shall support the Relevant Purchaser upon reasonable request
and at the costs of the Relevant Purchaser. To the extent that any required
consent by the other contractual party to the assignments of the Contracts
referred to in the preceding paragraph will not have been obtained within four
weeks of Closing, the relevant VIA GmbH Company shall have the right to
terminate such Contract in accordance with its terms or by any mutual agreement
with the other contractual party.

 

2.2.3                   Netherlands

 

(i)                                  The Seller shall transfer to the Relevant
Purchaser all property (other than Intellectual Property) forming part of the
Business Assets by execution by the Seller and Relevant Purchaser before a
civil law notary of notarial deeds of transfer of registered property on terms
reasonably satisfactory to the parties.

 

(ii)                               To the extent that they are not held by
third parties at Closing (the foregoing not detracting from any warranty
contained in this Agreement), the Moveable Assets (including Computer Systems
where appropriate) shall be transferred to the Relevant Purchaser on the
Closing Date by the Seller delivering the assets to the Relevant Purchaser or
giving the Relevant Purchaser access or the keys to the locations where the
aforesaid Business Assets are situated, whereupon the aforesaid Business Assets
shall be at the Relevant Purchaser’s full disposal. The Seller shall also
deliver to the Relevant Purchaser all evidence of ownership of the Business
Assets referred to in paragraph (iv).

 

(iii)                            Those Business Assets referred to in
paragraph (ii) above which are held by third parties at Closing (the
foregoing not detracting from any warranty contained in this Agreement), shall
be transferred to the Relevant Purchaser on the Closing Date by virtue of this
Agreement (which shall constitute a deed as required under Dutch law) and by
written notices from the Seller, given also on behalf of the Relevant
Purchaser, to the said third parties that the latter shall from then on hold
the said Business Assets for the Relevant Purchaser, such notices to be
delivered to the third parties by the Seller on or before the Closing Date.

 

(iv)                           The Business Intellectual Property
shall be transferred to the Relevant Purchaser by assignments in respect of
Registered Intellectual Property and an assignment in Agreed Terms in respect
of all other Intellectual Property.

 

(v)                              The benefit of the Claims (other than Claims in
order or bearer form) and all other rights referred to in the Agreement (other
than rights in order or bearer form), including without limitation all
licences, consents, authorisations, orders, warrants, confirmations,
permissions, certificates, approvals, registrations and authorities, shall, to
the extent permitted by law, be transferred on the Closing Date to the Relevant
Purchaser by virtue

 

55

 

of this
Agreement. The Seller shall give written notice to the affected third parties
of the foregoing transfer on or before the Closing Date.

 

(vi)                           Those Claims and other rights referred
to in the Agreement that are in order or bearer form shall be transferred by
the Seller to the Relevant Purchaser by delivery and, where required,
endorsement, to the Relevant Purchaser of the documents in which such Claims
and other rights are established.

 

(vii)                        The rights and obligations of the VIA
Group arising under the Contracts which require Third Party Consents that have
not been obtained by the Closing Date (the foregoing not detracting from any
obligation of the Seller or right of the Relevant Purchaser under this
Agreement), shall be transferred to the Relevant Purchaser on the terms set out
in Schedule 3.

 

(viii)                     In respect of any Contract in respect
of which the required Third Party Consent was obtained prior to signature of
this Agreement, the rights and obligations of the VIA Group under such Contract
shall, to the extent permitted by law, be transferred by the Seller to the
Relevant Purchaser on the Closing Date by virtue of this Agreement which shall
constitute a deed of assignment as required under Dutch law. The Seller and the
Relevant Purchaser shall jointly notify the affected third parties of this
assignment by written notice delivered on the Closing Date.

 

(ix)                             The rights and obligations of the VIA
Group under the Contracts in respect of which the required Third Party Consents
are obtained after signature of this Agreement but prior to Closing, shall, to
the extent permitted by law, be transferred by the Seller to the Relevant
Purchaser on the Closing Date by the Seller and the Relevant Purchaser
executing Local Transfer Documents in the form of a deed of assignment on terms
reasonably satisfactory to the parties. The Seller and the Relevant Purchaser
shall jointly notify the affected third parties of the foregoing transfer by
written notice delivered on the Closing Date.

 

3                                      Further Obligations in
Addition to Transfer

 

3.1                            General Obligations

 

The Seller shall deliver or make
available to the Relevant Purchasers the following in each case to the extent
applicable and required under the laws of the respective jurisdiction of the
Group Companies:

 

3.1.1                   the written resignations on terms
reasonably satisfactory to the parties (and legalised by a notary where
required) of each of the persons named in Schedule 2 from the office or
position specified in Schedule 2, to take effect on Closing;

 

3.1.2                   evidence that all persons referred to
in paragraph 3.1.1 above holding share(s) in any Group Company under a
nominee-type arrangement or any arrangement having a similar effect have
transferred such share(s) to such other persons as the Relevant Purchasers may
specify, to take effect on Closing;

 

3.1.3                   if practicable, the Seller, having used
reasonable endeavours to obtain the same, the written resignations of the
auditors of the Group Companies concerned to take effect on the Closing Date,
with acknowledgements signed by each of them in a form satisfactory to the
Relevant Purchasers to the effect that they have no claim

 

56

 

against any Group
Company or otherwise complying with any relevant law or regulation;

 

3.1.4                   irrevocable powers of attorney or such
other appropriate document (in such form and terms as the Relevant Purchasers
may reasonably require) executed by each of the holders of the Shares which are
the subject of Closing in favour of the Relevant Purchasers or as it may direct
to enable it (pending registration of the relevant transfers) to exercise post
Closing all voting and other rights attaching to such Shares and to appoint
proxies for this purpose with an express undertaking of the holder of such
Shares not to exercise such voting and other rights attached to such Shares;

 

3.1.5                   written waivers or consents in relation
to pre-emption rights as the Relevant Purchasers may reasonably require signed
by shareholders of the Companies which are the subject of Closing to enable the
Relevant Purchasers or its nominees to be registered as holder of the Shares;

 

3.1.6                   releases or waivers on terms reasonably
satisfactory to the parties in respect of the Encumbrances affecting any of the
Shares, or any of the Business Assets which are the subject of Closing;

 

3.1.7                   any releases which the parties have
obtained under Clause 7.3 of the Sale and Purchase Agreement;

 

3.1.8                   in each case where the said information
is not in the possession of the relevant Group Company, the corporate books and
records, duly written (up-to-date), including the shareholders’ register and
share certificates in respect of the Subsidiaries, and all other books and
records, all to the extent required to be kept by each Group Company under the
law of its jurisdiction of incorporation;

 

3.1.9                   in each case where the said information
is not at the Properties all other books, records and other information
relating primarily to the Group Companies or the VIA Operations (save for
books, records and other information which the Seller is required by law to
retain) and all information relating to customers, suppliers, agents and
distributors and other information relating primarily to the Group Companies or
the VIA Operations (including the Relevant Employees) as the Relevant
Purchasers may reasonably require and copies, or, at the Seller’s option,
originals of any such books, records, documents or other information in the
possession or control of the Seller which relate only in part to the Group
Companies or the VIA Operations and which the Relevant Purchasers may
reasonably require;

 

3.1.10            evidence as to:

 

(i)                                  the acceptance by shareholders or the directors of
each of the relevant Group Companies of the resignations referred to in
paragraph 3.1.1;

 

(ii)                               the acceptance by shareholders of the
relevant Group Companies of the resignation of the auditors referred to in
paragraph 3.1.3; and

 

(iii)                            the approval by the shareholders or the
directors of the transfer of the Shares or the sale of the VIA Operations to
the Relevant Purchasers,

 

where such acceptance or approval
is required by law or under the constitutional documents of the Group Company
concerned;

 

57

 

3.1.11            evidence reasonably satisfactory to the Relevant
Purchasers of the revocation of existing authorities given by the Group Company
to banks (in respect of the operation of its bank accounts);

 

3.1.12            other requirements, e.g. certified copies of board
resolutions changing registered office, changing accounting reference date,
changing constitutional documents; and

 

3.1.13            all original deeds and documents relating to any
Group Company’s interests in or title to the Properties to the extent the same
are not in the possession or under the control of the relevant Group Company.

 

58

 

Schedule 7

Warranties

 

1                                      Corporate Information

 

1.1                            The Shares and the Group
Companies

 

1.1.1                   The Seller listed in Schedule 1:

 

(i)                                  is the sole legal and beneficial owner of the
Shares listed opposite the name of that Seller in Schedule 1; and

 

(ii)                               has the right to exercise all voting
and other rights over the Shares.

 

1.1.2                   The Shares comprise the whole of the
issued share capital of the Companies, have been properly and validly issued
and are each fully paid.

 

1.1.3                   The shareholders specified in paragraph
2 of Schedule 2:

 

(i)                                  are the sole legal and beneficial owners of the
shares in the Subsidiaries; and

 

(ii)                               have the right to exercise all voting
and other rights over such shares.

 

1.1.4                   The shares in the Subsidiaries comprise
the whole of the issued and allotted share capital of the Subsidiaries, have
been properly and validly issued and allotted and each are fully paid.

 

1.1.5                   No person has the right (whether
exercisable now or in the future and whether contingent or not) to call for the
allotment, conversion, issue, registration, sale or transfer, amortisation
or repayment of any share capital or any other security giving rise to a right
over, or an interest in, the capital of any Group Company under any option,
agreement or other arrangement (including conversion rights and rights of
pre-emption).

 

1.1.6                   There are no Encumbrances on the shares
in any Group Company.

 

1.1.7                   No third party consents are required
for the transfer of the Shares pursuant to this Agreement other than the
approval of VIA Stockholders as referred to in Clause 4.1.

 

1.1.8                   No Group Company has any interest in,
or has agreed to acquire, any share capital or other security referred to in
paragraph 1.1.5 of any other company (wherever incorporated) other than the
Subsidiaries set out in Schedule 2.

 

1.1.9                   The particulars contained in Schedule 2
are true and accurate.

 

1.2                            Constitutional Documents,
Corporate registers and minute books

 

1.2.1                   The constitutional documents in the
Data Room are true and accurate copies of the constitutional documents of
the Group Companies and there have not been and are not any breaches by any
Group Company of its constitutional documents which would have a material
adverse effect on the business of the Group.

 

1.2.2                   The register of members and minute
books for meetings of members required to be maintained by each Group Company
under the law of the jurisdiction of its incorporation:

 

59

 

(i)                                  are up-to-date;

 

(ii)                               are maintained in accordance with
applicable law; and

 

(iii)                            contain complete and accurate records
of all matters required to be dealt with in such books and register,

 

in each case in all material
respects.

 

1.2.3                   All registers of members and minute
books of the Group Companies are in the possession (or under the control) of
the Seller, the relevant Group Company or legal counsel to the relevant Group
Company and no written notice or allegation that any of such books and records
is incorrect or should be rectified has been received.

 

2                                      Accounts

 

2.1                            Consolidated Accounts

 

The Consolidated Accounts have
been prepared in accordance with applicable law and with US GAAP at the
Accounts Date so as to give a true and fair view of the state of affairs of the
VIA Group and the Group Companies taken as a whole at the Accounts Date and of
the profits or losses for the period concerned.

 

2.2                            Solus Accounts

 

The Solus Accounts have been
prepared in accordance with applicable law and with the accounting principles,
standards and practices generally accepted at 31 December 2003 in the
jurisdiction in which the relevant Group Company is incorporated so as to give
a true and fair view of the state of affairs of each Group Company for which
Solus Accounts have been prepared at 31 December 2003 and of the profits
or losses for the period concerned.

 

2.3                            Management Accounts

 

2.3.1                   The unaudited management accounts (including
the updated management reports) relating to the Group Companies for the two (2) month
period ended 30 June 2005 (the “Management
Accounts” and the “Management
Accounts Date”, respectively), as filed with the SEC by
the Seller in its 10-Q report and a copy of which is included in the Data Room under
the folder entitled “VIA Inc.”, have been prepared on bases consistent in all
material respects with those employed in the preparation of the Consolidated
Accounts, as adjusted for US GAAP.

 

2.3.2                   The Management Accounts do not
materially misstate the assets and liabilities of the Group as at the
Management Accounts Date nor the profits or losses of the Group for the period
concerned having regard to the purposes for which they have been prepared.

 

3                                      Financial Obligations

 

3.1                            Financial Facilities

 

Details of all financial
facilities (including loans, derivatives and hedging arrangements outstanding
or available to the Group Companies are given in the Disclosure Letter and/or
the Data Room.

 

60

 

3.2                            Guarantees

 

Other than in the ordinary and usual course of business or
pursuant to this Agreement or the Finance Documents, there is no outstanding
guarantee, indemnity, suretyship or security given:

 

3.2.1                   by any Group Company; or

 

3.2.2                   for the benefit of any Group Company.

 

4                                      Assets

 

4.1                            The Properties

 

4.1.1                   No Group Company owns any real
property.

 

4.1.2                   True and complete copies of all leases
with a rental cost in excess of €75,000 per lease relating to office and data
centres relevant to any Group Company’s are contained in the Data Room.

 

4.1.3                   Each Property has the benefit of such
rights in the document entitled “Real Property Leasehold Interest Summary
Relating to Offices and Data Centres” and easements as are necessary for the
existing use of the Property.

 

4.1.4                   There is no outstanding notice or
dispute involving the relevant Group Company and any third party as to the
occupation or use of any Property which would, if implemented or enforced, have
a material adverse effect on the business of the Group carried out at that
Property.

 

4.2                            Leases

 

Where any Property is leased by a
Group Company:

 

4.2.1                   there is no subsisting breach (other
than non or late payment of rent and no non-observance of any covenant, condition
or agreement contained in the lease under which the Group Company holds its
interest in the Property, on the part of the relevant landlord or the Group
Company, which would have a material adverse effect on the business of the
relevant Group Company carried on at the Property.

 

4.2.2                   there is no right for the landlord to
terminate the lease before the expiry of the contractual term other than by
breach of the lease by the lessee.

 

4.3                            Ownership of Assets

 

All tangible assets included in
the Accounts or acquired by any of the Group Companies since the Accounts Date,
excepting rights and retention of title arrangements arising by operation of
law or in the ordinary and usual
course of business (such as leasing arrangements):

 

4.3.1                   are legally and beneficially owned by
the Group Companies;

 

4.3.2                   are, where capable of possession, in
the possession or under the control of the relevant Group Company except
Customer Premises Equipment, situated at customer sites or physical points of
presence and assets owned by the Group Companies at physical points of
presence;

 

61

 

4.3.3                   are free from Encumbrances other than
Permitted Encumbrances (save for Permitted Encumbrances of the type described
in paragraph (b) of the definition of Permitted Encumbrances);

 

4.3.4                   are not the subject of any factoring
arrangement, conditional sale or credit agreement.

 

4.4                            Sufficiency of Assets

 

The assets owned
and used by the Companies and/or Subsidiaries as at Closing, including without
limitation, Intellectual Property, will be sufficient for the Companies and/or
Subsidiaries to continue their business in the manner in which it is currently
conducted.

 

5                                      Intellectual Property and
Information Technology

 

5.1                            Ownership etc.

 

5.1.1                   All of the Business Intellectual
Property and the Material Group IP is:

 

(i)                                  legally owned, licensed to or used under the
authority of the owner by the Seller, in the case of the Business Intellectual
Property; or

 

(ii)                               legally owned by, licensed to or used
under the authority of the owner by the Group Companies, in the case of the
Material Group IP.

 

Copies of all such licences and
authorities (excluding any shrink-wrap licences for computer software and
domain names) are included in the Data Room.

 

5.1.2                   The Material Group IP and the Business
Intellectual Property in each case owned by the Group Companies or the Seller
as the case may be is:

 

(i)                                  not being infringed, attacked or opposed by any
person;

 

(ii)                               not licensed to a third party other
than pursuant to an agreement identified in the Data Room, to end users in the
ordinary course of business under end user license agreements or except as set
out in the Disclosure Letter; and

 

(iii)                            not subject to any Encumbrance other
than a Permitted Encumbrance (save for Permitted Encumbrances of the type
described in paragraph (b) of the definition of Permitted Encumbrances).

 

5.1.3                   The Data Room lists all Registered
Intellectual Property:

 

(i)                                  forming part of the Business Intellectual
Property; or

 

(ii)                               owned by a Group Company and forming
part of the Group Intellectual Property.

 

5.1.4                   The document entitled “Business
Intellectual Property” contained in the Data Room lists all unregistered
trade marks:

 

(i)                                  forming part of the Business Intellectual
Property; or

 

(ii)                               owned by a Group Company and forming
part of the Group Intellectual Property and which in each case is, material to
the business of the Group.

 

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5.2                            Licences

 

The:

 

5.2.1                   Licence Agreements; and

 

5.2.2                   all licences and agreements relating to
the Material Group IP are included in the Data Room,

 

(including all amendments,
novations, supplements or replacements to those licences and agreements) are in
full force and effect, no notice having been given on either side to terminate
them and the obligations of all parties have been fully complied with.

 

5.3                            Employee Rights

 

Except as set out in the Data
Room, there are no outstanding claims against any Group Company or the Seller
under any contract or under any law providing for employee compensation in
respect of any rights or interests in Intellectual Property.

 

5.4                            Infringement

 

5.4.1                   Excluding patents and similar rights,
the processes employed and the products and services dealt in by:

 

(i)                                  the Seller in relation to or in connection with
the business of the Group; and

 

(ii)                               each Group
Company,

 

do not use, embody or infringe any
rights or interests of any third party in Intellectual Property (other than
those licensed to the Seller or the Group Companies pursuant to the agreements
described at paragraph 5.2 above) which would have a material adverse effect on
the business of the Group.

 

5.4.2                   Excluding patents and similar rights,
no written notice of any claims of infringement of rights or interests, in each
case of the nature referred to in 5.5.1, has been received by any Group Company
or member of the VIA Group.

 

5.5                            Sufficiency

 

The Business Intellectual Property
and the Group Intellectual Property comprise sufficient rights and interests in
Intellectual Property reasonably necessary for the carrying on of the business
of the Group in the manner and to the extent carried on as at the date hereof.

 

5.6                            Other Provisions

 

5.6.1                   The Data Room contains a full list
of domain names under the folder entitled “Domain Names” which are:

 

(i)                                  included in the Business Intellectual Property; or

 

(ii)                               registered in the name of any Group
Company and included in the Group Intellectual Property.

 

5.6.2                   No action has been knowingly taken by
the Seller or any Group Company to damage or otherwise adversely affect the
reputation or goodwill associated with any unregistered trade mark identified
in set out in the document entitled “Business Intellectual Property” contained
in the Data Room.

 

63

 

5.7                            Computer Systems

 

5.7.1                   In relation to the Seller’s Computer
Systems and the Group Companies’ Computer Systems:

 

(i)                                  the present capacity, capability, functionality
and performance of the Computer Systems are sufficient to satisfy the business
requirements of the Group Companies as at the date hereof;

 

(ii)                               there are no performance reductions or
breakdowns of, or logical or physical intrusions to, any Computer Systems or
losses of data which are having a material adverse effect on the business of the
Group;

 

(iii)                            each of the Computer Systems are owned
by, leased by or licensed to the relevant Group Company;

 

(iv)                           the Data Room contains accurate
details of the Group’s current procedures with a view to security of the
Computer Systems and data stored on them;

 

(v)                              the data storage capability, functionality and
performance of the Computer Systems are sufficient in all material respects to
conduct the Group’s business (as it is now conducted);

 

(vi)                           the Group Companies have full and
unrestricted access to and use of the Computer Systems and no third party
agreements or consents are required to enable the Group Companies to continue
such access and use following Closing; and

 

(vii)                        all material services relating to, and
licences of, Computer Services are provided under written contracts with the
Group (including maintenance and support, security, disaster recovery,
management and utilisation (including escrow arrangements relating to the
deposit of source codes, facilities management and computer bureau services
agreements)) and true copies of which are included in the Data Room.

 

5.7.2                   The Computer Systems are sufficient for
the purposes of carrying on the business of the Group in the manner and to the
extent carried on as at the date hereof.

 

5.7.3                   All the operating data of the Group
Companies (being data materially required for the Group Companies to be able to
provide services to their customers, to bill such customers, pay their
suppliers, manage and compensate their employees and maintain internal and external
e-mail communications systems for their employees) has been regularly archived
in soft copy form.

 

5.7.4                   The Group Company has in its
unencumbered possession or has unrestricted access to up-to-date and accurate
source code for all material bespoke software which has been written or
produced in-house by the Group.

 

5.7.5                   Copies of all licences and escrow
agreements relating to software material to the Group, either individually or
in the aggregate, are included in the Data Room. The licences of such software
have been complied with by the relevant Group Company in all material respects
in the operation of the business of the Group and any restrictions in those
licences do not materially and adversely affect the present conduct of the
business of the Group.

 

64

 

5.8                            Data Protection

 

5.8.1                   No written notice alleging
non-compliance with any applicable data protection legislation (including any
enforcement notice, deregistration notice, transfer prohibition notice or any
equivalent notice) has been received by any of the Group Companies or the
Seller from any competent data protection authority.

 

5.8.2                   No Group Company or the Seller is
involved in a dispute with an individual in respect of any infringement or
alleged infringement of any applicable data protection legislation and no Group
Company or the Seller has received a written claim for compensation from any
individual in respect of any such infringement or alleged infringement in the
previous 12 months.

 

5.8.3                   There is no outstanding court order
against any Group Company or the Seller in respect of the rectification or
erasure of personal data.

 

6                                      Contracts

 

6.1                            Contracts

 

No Group Company is a party to or
subject to any Material Contract which:

 

6.1.1                   is not in the ordinary and usual course of business;

 

6.1.2                   is not on an arm’s length basis;

 

6.1.3                   is of a long term nature that is,
unlikely to have been fully performed, in accordance with its terms, more than
36 months after the date on which it was entered into or undertaken;

 

6.1.4                   restricts its freedom to carry on its
business in any part of the world in such manner as it thinks fit so as to have
a material adverse effect on the Group.

 

6.2                            Joint Ventures etc.

 

Except as disclosed in the Data
Room, no Group Company is, or has agreed to become, a member of any joint
venture, consortium, partnership or other association (other than a recognised
trade association in relation to which the Group Company has no liability or
obligation except for the payment of annual subscription or membership fees).

 

6.3                            Agreements with Connected
Parties

 

6.3.1                   There are no existing contracts, and
have not been since 1 January 2004 any contracts, between, on the one
hand, any Group Company and, on the other hand, the Seller or any other member
of the VIA Group other than on normal commercial terms in the ordinary and usual course of business or which
cannot be terminated on less than 30 days notice and other than those contracts
included in the Data Room.

 

6.3.2                   The Seller is not nor is any Group
Company party to any contract material to the business of the Group, with any
current or former employee or current or former director or officer of any such
Group Company or the Seller or in which any such person is interested (whether
directly or indirectly), other than on normal commercial terms in the ordinary and usual course of business.

 

65

 

6.4                            Material Contracts

 

6.4.1                   All the Material Contracts to which a
Group Company is party are in full force and effect and other than the late or
non-payment of monies owing, have been duly complied with by the relevant Group
Company in all material respects and nothing has occurred whereby any of them
is subject to early termination or which has given rise to a material claim in
damages under any of them by any party to any of them.

 

6.4.2                   Copies of all Contracts and Material
Contracts are contained in the Data Room.

 

6.4.3                   The transactions contemplated by this
Agreement will not result in a material breach of, or give any third party a
right to terminate any Material Contract.

 

7                                      Employees and Employee
Benefits

 

7.1                            Employees and Terms of
Employment

 

7.1.1                   The Data Room contains details, in
relation to each Group Company and the VIA Operations, of:

 

(i)                                  the total number of the Employees;

 

(ii)                               the salary and other benefits, period
of continuous employment, location, grade, age and notice period of each
Employee; and

 

(iii)                            the terms of the contract of employment
of each Senior Employee.

 

7.2                            Termination of Employment

 

7.2.1                   Since 31 December 2004 no Senior
Employee has given or received notice terminating his or her employment.

 

7.2.2                   In relation to any claim received by a
Group Company, no liability which remains undischarged has been incurred by any
Group Company or the Seller for:

 

(i)                                  breach of any contract of employment with any
Employee; or

 

(ii)                               breach of any statutory employment
right.

 

7.2.3                   Except as provided, reflected or noted
in Management Accounts, neither the Seller nor any Group Company has made or
agreed to make any payment or provided or agreed to provide any benefit to any
Employee or former employee employed by the Group Company or the Seller with
regard to the VIA Operations since 31 December 2004 or any dependant of
such Employee or former employee in connection with the proposed termination or
suspension of employment of any such Employee or former employee.

 

7.3                            Works Councils and Employee
Representative Bodies

 

The Data Room contains
details of all work councils and employee representative bodies which by law or
any collective bargaining agreement have the right to be informed and/or
consulted on matters which affect the Employees.

 

66

 

7.4                            Collective Bargaining
Agreements etc.

 

Other than national collective
bargaining agreements or industry wide collective agreements, the union
recognition agreements, collective agreements and European Works Council
agreements contained in the Data Room are all the agreements between the
Group Companies and the Seller and trade unions or representative bodies.

 

7.5                            Bonus or other Profit-related
Schemes

 

There are contained in the Data Room the
rules and other documentation relating to all share incentive, share
option, profit sharing, bonus or other incentive arrangements for or affecting
any Employees or other workers or former employees or other former workers of
the Group Companies or the Seller since 31 December 2003 together with
details of all awards allocated and options granted by each Group Company.

 

As at the date of this Agreement,
the Seller has paid of procured that the Group Companies have paid all Employee
bonuses due in respect of 2004, including all Taxation in relation thereto.

 

7.6                            Group Retirement Benefit
Arrangements

 

The Group Companies are in
compliance with the terms of any retirement, death, disability or life
assurance benefits provided to Employees in all material respects and the Data Room contains
copies of all such forms as are material in the context of the Group.

 

8                                      Legal Compliance

 

8.1                            Licences and Consents

 

To the extent that the Seller or
any Group Company is solely responsible for obtaining them, all licences,
consents, authorisations, orders, warrants, confirmations, permissions,
certificates, approvals, registrations and authorities material to the business
of the Group as carried on at the date hereof have been obtained, are in force
and are being complied with in all material respects.

 

8.2                            Compliance with Laws

 

8.2.1                   Each Group Company and the Seller is
conducting, and during the two year period prior to Closing or, if shorter, the
period since the relevant Group Company was acquired by the VIA Group, has
conducted, the business of the Group in material compliance with applicable
laws and regulations in each country in which the business of the Group is
carried on except where such non-compliance does not materially and adversely
effect the present conduct of the business of the Group.

 

8.2.2                   There is no investigation, disciplinary
proceeding or enquiry by, or order, decree, decision or judgment of, any court,
tribunal, arbitrator, governmental agency or regulatory body outstanding
against any Group Company or the Seller or any person for whose acts or
defaults it may be vicariously liable which would have a material adverse
effect upon the business of the Group.

 

8.2.3                   No Group Company or the Seller has
received any written notice during the past 12 months from any court, tribunal,
arbitrator, governmental agency or regulatory body with respect to a violation
and/or failure to comply with any applicable law or

 

67

 

regulation or
requiring it to take or omit any action which in any case would have a material
adverse effect on the business of the Group.

 

9                                      Litigation

 

9.1                            Current Proceedings

 

Except as set out in the Data
Room, no Group Company nor either Seller is involved whether as claimant or
defendant or other party in any claim, legal action, proceeding, suit,
litigation, prosecution, investigation, enquiry or arbitration (other than as
claimant in the collection of debts arising in the ordinary and usual course of its business none
of which exceeds $20,000) which would have a material adverse effect on the
business of the Group.

 

9.2                            Threatened Proceedings

 

No such claim, legal action,
proceeding, suit, litigation, prosecution, investigation, enquiry or
arbitration of material importance has been threatened in writing by or against
any Group Company or the Seller (or any person for whose acts or defaults a
Group Company or the Seller may be vicariously liable) which would have a
material adverse effect on the business of the Group.

 

9.3                            Circumstances likely to lead
to claims

 

The Seller has not received any
written notice of any investigation, disciplinary proceeding or other
circumstances likely to lead to any such claim or legal action, proceeding,
suit, litigation, prosecution, investigation, enquiry or arbitration which
would have a material adverse effect on the business of the Group.

 

9.4                            Disputes with Creditors

 

Material particulars of all
disputes (other than those relating solely to the late payment or non-payment
of monies due) between each Group Company and its creditors in respect of
amounts of $100,000 or more due to such creditors are set out in the Disclosure
Letter or in the Data Room.

 

10                               Insurance

 

10.1                     Particulars of Insurances

 

Copies of all documentation
relating to the insurance policies of the Group Companies in the possession of
the Seller and material to the business of the Group are contained in the Data
Room.

 

10.2                     Insurance Claims

 

10.2.1            Details of all outstanding insurance claims in
excess of $100,000 made during the past twelve (12) months are contained in the
Disclosure Letter or the Data Room.

 

10.2.2            No circumstances exist which are likely to give
rise to any insurance claim in excess of $100,000.

 

68

 

11                               Tax

 

11.1                     Company Residence

 

Each Group Company has been
resident for tax purposes in its country of incorporation and has not been
resident anywhere else at any time since its incorporation and will be so
resident at Closing. For the avoidance of doubt, references to residence in
this paragraph shall be construed as references to residence as determined by
the local law of the jurisdiction or jurisdictions concerned and not by
reference to the provisions of any relevant double taxation treaty or
convention.

 

11.2                     Returns and Information

 

11.2.1            All registrations, returns, computations, notices
and information which are or have been required to be made or given in the
previous twelve months by each Group Company for any Taxation purpose (i) have
been made or given on a proper basis and are up-to-date and correct and (ii) no
written notice has been received by any Group Company of any dispute with any
Tax Authority.

 

11.2.2            Each
Group Company has maintained all records required to be maintained for Taxation
purposes or which may be required to calculate any Taxation payable or the
amount of any Taxation Benefit.

 

11.3                     Payment of Taxation

 

11.3.1            In the two years prior to the date hereof, each
Group Company has paid all Taxation which it is or has been liable to pay or
account for and the due date for payment of which has fallen prior to the date
hereof and has not received any written notice that it is liable to any fine,
penalty, surcharge or interest in connection with Taxation that remains
outstanding.

 

11.3.2            In the two years prior to the date hereof, each
Group Company has deducted or withheld all Taxation which it has been obliged
by law to deduct or withhold from payments made by it and has properly
accounted to the relevant Tax Authority for the Taxation so deducted or
withheld.

 

11.4                     Special
Regimes/Elections/Rulings

 

There are set out in the
Disclosure Letter, with express reference to this paragraph, full particulars
of any agreement, arrangement or election between any Group Company and any Tax
Authority pursuant to which the relevant Group Company is authorised not to
comply with, but for such agreement or arrangement, would be its statutory
obligations.

 

11.5                     Tax Equalisation Payments

 

11.5.1            No Group Company is under any obligation to
surrender or otherwise transfer any Taxation Benefit.

 

11.5.2            No Group Company is liable to make a payment for
utilisation, surrender or other transfer of any Taxation Benefit (“Taxation Equalisation Payment”), nor is any
Taxation Equalisation Payment received by any Group Company liable to be
refunded.

 

69

 

11.5.3            There are set out in the Disclosure Letter, with
express reference to this paragraph, or the Data Room, full particulars of all
surrenders or other transfers of any Taxation Benefit made by any Group Company
since the Accounts Date.

 

12                               Important Business Issues
since the Accounts Date

 

12.1                     Since 31 December 2004:

 

12.1.1            there has been no material adverse change in the
financial or trading position or prospects of the Group taken as a whole (other
than (i) in connection with the current financial position of the Group to
the extent disclosed to the Relevant Purchasers in the Data Room in
writing or otherwise publicly available (including without limitation the
liquidity of the Group and the individual Group Companies); (ii) a change
affecting or likely to affect all companies carrying on business in similar
countries in which the Group carries on business); (iii) a material
adverse change in stock or other financial markets, interest rates, exchange
rates or other general economic conditions; (iv) any matter contained in
the Disclosure Letter or the Data Room; or (v) any matter effected
pursuant to or in accordance with this Agreement including the change in
control of the Group Companies resulting from the sale and purchase of the
Shares) and no event, fact or matter has occurred which will give rise to any
such change;

 

12.1.2            no Group Company has acquired, or agreed to
acquire, any single capital asset having a value in excess of $100,000;

 

12.1.3            no Group Company has disposed of, written off, or
agreed to dispose of or write off, any capital asset having a value reflected
in the Accounts in excess of $100,000 or acquired since the Accounts Date;

 

12.1.4            except as provided in the Finance Documents, no
Group Company has borrowed or raised any money or taken up any financial
facilities and no Group Company has repaid any borrowing or indebtedness in
advance of its stated maturity;

 

12.1.5            no dividend or other payment which is, or could be
treated as, a distribution has been declared, paid or made by any Group
Company;

 

12.1.6            except in connection with the transaction
contemplated by this Agreement or in the ordinary course of business, no
resolution of the shareholders of any Group Company has been passed;

 

12.1.7            no Group Company has changed its accounting
reference date;

 

12.1.8            no share or loan capital has been allotted,
issued, repaid or redeemed or agreed to be allotted, issued, repaid or redeemed
by any Group Company; and

 

12.1.9            no Group Company has redeemed or purchased or
agreed to redeem or purchase any of its share capital.

 

70

 

12.16              Since the
Management Accounts Date no Group Company has sold or agreed to sell a debt at
less than its value in the Management Accounts and no debt has been released,
deferred, subordinated or written off by any Group Company other than between
Group Companies or between Group Companies and the VIA Group.

 

13                               Disclosure of Information

 

13.1                     The Data Room has been collated by
the Seller in good faith and the Seller has not knowingly included any matter
which is untrue or knowingly omitted any matter the omission of which is
material to the business of the Group.

 

13.2                     Each document in the Data Room is
a true and complete copy of the original of such document.

 

14                               Authority and Capacity

 

14.1.1            The Seller and each Group Company is validly
existing and is a company duly incorporated under the law of its jurisdiction
of incorporation.

 

14.1.2            The Seller has the legal right and full power and
authority to enter into and subject to the approval of the VIA Shareholders,
perform this Agreement, any Local Transfer Document to which it is a party and
any other documents to be executed by it pursuant to or in connection with this
Agreement or any Local Transfer.

 

14.1.3            The documents referred to in paragraph 16.1.2
will, when executed, constitute valid and binding obligations on the Seller, in
accordance with their respective terms.

 

14.1.4            The Seller has taken or will have taken by Closing
all corporate action required by it to authorise it to enter into and to
perform this Agreement, any Local Transfer Document to which it is a party and
any other documents to be executed by it pursuant to or in connection with this
Agreement or any Local Transfer Document.

 

15                               Insolvency etc.

 

15.1.1            No Group Company or the Seller will be rendered
insolvent by any of the transactions contemplated herein or in connection with
the Facility Agreement and any related documents (the “Contemplated Transactions”), under the laws
of its jurisdiction of incorporation or rendered unable to pay its debts as they
fall due.

 

15.1.2            Immediately after giving effect to the
consummation of the Contemplated Transactions, including the receipt of the
amounts payable by the Relevant Purchasers under this Agreement for the sale of
the Shares (i) the Seller will be able to pay its Liabilities as they
become due in the usual course of its business, (ii) the Seller will not
have unreasonably small capital with which to conduct its present or proposed
business, (iii) the Seller will have assets (calculated at fair market value)
that exceed its Liabilities and (iv) taking into account all pending and
threatened litigation, final judgments against the Seller in actions for money
damages are not reasonably anticipated to be rendered at a time when, or in
amounts such that, the Seller will be unable to satisfy any such judgments
promptly in accordance with their terms (taking into account the maximum
probable amount of such judgments in any such actions and the earliest
reasonable time at which such judgments might be rendered) as well as all other
obligations of the Seller. The cash available to the Seller, after taking into
account all other anticipated uses

 

71

 

of the cash, will
be sufficient to pay all such debts and judgments promptly in accordance with
their terms.

 

15.1.3           For the purposes of paragraph 15.1.2 above:

 

“Governmental
Body” means any:

 

(i)                                  nation, state, county, city, town,
borough, village, district, or other jurisdiction;

 

(ii)                               federal, state, local, municipal, foreign,
or other government;

 

(iii)                            governmental or quasi-governmental
authority of any nature (including any agency, branch, department, board,
commission, court, tribunal or other entity exercising governmental or
quasi-governmental powers); or

 

(iv)                           body exercising, or entitled or
purporting to exercise, any administrative, executive, judicial, legislative,
police, regulatory, or taxing authority or power;

 

“insolvent”
means that the sum of the present fair saleable value of Seller’s assets does
not and will not exceed its debts and other probable Liabilities;

 

“Liability”
means with respect to any Person, any liability or obligation of such Person of
any kind, character or description, whether known or unknown, absolute or
contingent, accrued or unaccrued, disputed or undisputed, liquidated or
unliquidated, secured or unsecured, joint or several, due or to become due,
vested or invested, executory, determined, determinable or otherwise and
whether or not the same is required to be accrued on the financial statements
of such Person; and

 

“Person”
means an individual, partnership, corporation, business trust, limited
liability company, limited liability partnership, joint stock company, trust,
unincorporated association, joint venture or other entity, or a Governmental
Body.

 

15.1.4            In the twelve month period prior to the date
hereof, no Group Company or the Seller has been held in material default by
lenders under any debt financing.

 

15.1.5            No order for the winding up of any Group Company
has been made.

 

15.1.6            No administrator or administrative receiver has
been appointed in respect of the assets of the Group Companies.

 

15.1.7            No steps have been taken to enforce any security
over any assets of any Group Company or the Seller and no event has occurred to
give the right to enforce such security.

 

72

 

Schedule 8

Guarantees

 

PART A

 

GROUP COMPANY GUARANTEES:

 

The Seller shall use its
reasonable endeavours to procure on or prior to Closing the release of each
relevant Group Company from any guarantees or indemnities (other than any
guarantee or indemnity which is an Assumed Liability) given by or binding upon
the Group Company in respect of any liability of the Seller. Pending such
release, the Seller shall indemnify the Relevant Purchasers and any such Group
Companies against all amounts paid by any such Group Company pursuant to any
such securities, guarantees and indemnities in respect of such liability of the
Seller.

 

PART B

 

VIA GUARANTEES (NON-CASH
COLLATERALIZED):

 

The Relevant Purchasers shall use
their reasonable endeavours to procure on or as soon as reasonably practicable
following Closing the release of each relevant member of the VIA Group from the
guarantees or indemnities given by or binding upon any member of the VIA Group
in respect of any liability of the Group Companies which are the subject of
that Closing including without limitation those set out below. Pending such
release, the Relevant Purchasers shall indemnify the Seller against all amounts
paid by any member of the VIA Group pursuant to any such securities, guarantees
and indemnities in respect of such liability of such Group Companies.

 

(a)                               Guaranty from VIA Inc. dated 21 May 2004
in favour of Schuberg Philis B.V. in respect of the obligations of VIA
NET.WORKS Europe Holding B.V. under the Master Services Agreement with Schuberg
Philis dated 19 May 2004.

 

(b)                              Guarantee from VIA Inc. dated 10 December 2004
in favour of Metrolinx Sarl in respect of the obligations of PSINet Switzerland
Sarl under the lease agreement dated 17 October 2003.

 

(c)                               Declaration dated as of 1 April 2005
in favour of VIA NET.WORKS (Schweiz) A.G. in relation to the Amendment Number
Three and the related existing agreements between PSINet Switzerland Sarl and
TDC Switzerland AG dated 29 December 2004, with guarantees extended by VIA
Inc. and VIA NET.WORKS Europe Holding B.V.

 

(d)                              Amendment Number Three between PSINet
Switzerland Sarl and TDC Switzerland AG dated 29 December 2004

 

(e)                               Guarantee, indemnity and/or joint
liability by VIA Inc. of obligations of Group Companies arising under
agreements between VIA Inc. and each of the following entities: (i) Watchguard
Technologies, Inc., (ii) GRIC Communications, Inc. and (iii) Melbourne
IT Ltd. (IMWW), which shall be released upon novation or assignment of the
agreements pursuant to Clause 2.3.1(iv) and Schedule 3 of this
Agreement.

 

VIA SUPPORT AND COMFORT LETTERS

 

At the Closing, in relation to the
relevant Group Company, the Relevant Purchasers shall deliver a letter of
support to the directors of

 

VIA NET.WORKS
France SAS,

 

73

 

VIA NET.WORKS
France Holding SA,

 

PSINet Germany
GmbH

 

PSINet Datacenter
Germany GmbH

 

VIA NET.WORKS
Deutschland GmbH

 

PSINet
Switzerland Sarl

 

VIA NET.WORKS
España S.L.

 

in respect of the present and
future liabilities of those companies in replacement and substitution of
letters of support and comfort from the Seller.

 

74

 

Table of Contents

 

	
  Contents

  	
   

  	
   

  
	
   

  	
   

  
	
  1

  	
  Interpretation

  	
   

  
	
   

  	
   

  	
   

  
	
  2

  	
  Agreement to Sell the Group

  	
   

  
	
   

  	
   

  	
   

  
	
  3

  	
  Consideration

  	
   

  
	
   

  	
   

  	
   

  
	
  4

  	
  Conditions

  	
   

  
	
   

  	
   

  	
   

  
	
  5

  	
  Pre-Closing

  	
   

  
	
   

  	
   

  	
   

  
	
  6

  	
  Closing

  	
   

  
	
   

  	
   

  	
   

  
	
  7

  	
  Post-Closing
  Obligations

  	
   

  
	
   

  	
   

  	
   

  
	
  8

  	
  Warranties

  	
   

  
	
   

  	
   

  	
   

  
	
  9

  	
  Limitation
  of Seller’s Liability

  	
   

  
	
   

  	
   

  	
   

  
	
  10

  	
  Intellectual
  Property

  	
   

  
	
   

  	
   

  	
   

  
	
  11

  	
  Confidentiality

  	
   

  
	
   

  	
   

  	
   

  
	
  12

  	
  Other
  Provisions

  	
   

  
	
   

  	
   

  	
   

  
	
  Schedule 1 Part 1 Details of the
  Shares etc. (Clause 1.1)

  	
   

  
	
   

  	
   

  
	
  Schedule 2 Companies and Subsidiaries

  	
   

  
	
   

  	
   

  
	
  Schedule 3
  Contracts

  	
   

  
	
   

  	
   

  
	
  Schedule 4
  Employees

  	
   

  
	
   

  	
   

  
	
  Schedule 5
  VAT

  	
   

  
	
   

  	
   

  
	
  Schedule 6 Closing Obligations

  	
   

  
	
   

  	
   

  
	
  Schedule 7 Warranties

  	
   

  
	
   

  	
   

  
	
  Schedule 8 Guarantees

  	
   

  
				

 

iExhibit 10.2

 

Execution Copy

 

DATED 26 August 2005

 

 

VIA
NET.WORKS, INC.

 

and

 

VIA
NET.WORKS HOLDCO INC.

 

as
Borrowers

 

with

 

MAWLAW
653 LIMITED

 

acting
as Lender

 

 

$7,200,000

 

FACILITY
AGREEMENT

 

 

 

 

CONTENTS

 

	
  1.

  	
  DEFINITIONS AND INTERPRETATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  1.1

  	
  Definitions

  	
   

  
	
   

  	
  1.2

  	
  Construction

  	
   

  
	
   

  	
  1.3

  	
  Third party rights

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  THE FACILITY

  	
   

  
	
   

  	
   

  	
   

  
	
  3.

  	
  PURPOSE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  3.1

  	
  VIA
  Inc.

  	
   

  
	
   

  	
  3.2

  	
  VIA
  Holdco Inc.

  	
   

  
	
   

  	
  3.3

  	
  Monitoring

  	
   

  
	
   

  	
   

  	
   

  
	
  4.

  	
  CONDITIONS OF UTILISATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  4.1

  	
  Initial conditions precedent

  	
   

  
	
   

  	
  4.2

  	
  Further conditions precedent

  	
   

  
	
   

  	
   

  	
   

  
	
  5.

  	
  UTILISATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  5.1

  	
  Delivery of a Utilisation Request

  	
   

  
	
   

  	
  5.2

  	
  Completion of a Utilisation Request

  	
   

  
	
   

  	
  5.3

  	
  Currency and amount

  	
   

  
	
   

  	
  5.4

  	
  Availability of Loans

  	
   

  
	
   

  	
   

  	
   

  
	
  6.

  	
  REPAYMENT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  6.1

  	
  Repayment of Facility A

  	
   

  
	
   

  	
  6.2

  	
  Re-borrowing of Facility A

  	
   

  
	
   

  	
  6.3

  	
  Repayment of Facility B

  	
   

  
	
   

  	
  6.4

  	
  Re-borrowing of Facility B

  	
   

  
	
   

  	
   

  	
   

  
	
  7.

  	
  PREPAYMENT AND CANCELLATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  7.1

  	
  Mandatory prepayment and cancellation

  	
   

  
	
   

  	
  7.2

  	
  Voluntary prepayment

  	
   

  
	
   

  	
  7.3

  	
  Restrictions

  	
   

  
	
   

  	
   

  	
   

  
	
  8.

  	
  INTEREST

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  8.1

  	
  Accrual

  	
   

  
	
   

  	
  8.2

  	
  Default
  interest

  	
   

  
	
   

  	
   

  	
   

  
	
  9.

  	
  COMMITMENT FEE

  	
   

  
	
   

  	
   

  	
   

  
	
  10.

  	
  TAX GROSS UP AND INDEMNITIES

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  10.1

  	
  Definitions

  	
   

  
	
   

  	
  10.2

  	
  Tax
  gross-up

  	
   

  
	
   

  	
  10.3

  	
  Tax
  indemnity

  	
   

  
	
   

  	
  10.4

  	
  Stamp
  taxes

  	
   

  
	
   

  	
  10.5

  	
  Value
  added tax

  	
   

  
	
   

  	
   

  	
   

  
	
  11.

  	
  OTHER INDEMNITIES

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  11.1

  	
  Currency indemnity

  	
   

  
	
   

  	
  11.2

  	
  Other
  indemnities

  	
   

  
	
   

  	
   

  	
   

  
	
  12.

  	
  ENFORCEMENT COSTS

  	
   

  
	
   

  	
   

  	
   

  
	
  13.

  	
  GUARANTEE AND INDEMNITY

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  13.1

  	
  Guarantee and Indemnity

  	
   

  
	
   

  	
  13.2

  	
  Continuing guarantee

  	
   

  
	
   

  	
  13.3

  	
  Reinstatement

  	
   

  

 

i

 

	
   

  	
  13.4

  	
  Waiver of defences

  	
   

  
	
   

  	
  13.5

  	
  Additional Security

  	
   

  
	
   

  	
  13.6

  	
  Release of guarantee

  	
   

  
	
   

  	
   

  	
   

  
	
  14.

  	
  REPRESENTATIONS

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  14.1

  	
  Status

  	
   

  
	
   

  	
  14.2

  	
  Binding obligations

  	
   

  
	
   

  	
  14.3

  	
  Non-conflict with other obligations

  	
   

  
	
   

  	
  14.4

  	
  Power and authority

  	
   

  
	
   

  	
  14.5

  	
  Validity and admissibility in evidence

  	
   

  
	
   

  	
  14.6

  	
  Governing law and enforcement

  	
   

  
	
   

  	
  14.7

  	
  Pari passu ranking

  	
   

  
	
   

  	
  14.8

  	
  Pledged
  shares

  	
   

  
	
   

  	
  14.9

  	
  Margin regulation representations

  	
   

  
	
   

  	
  14.10

  	
  US regulation representations

  	
   

  
	
   

  	
  14.11

  	
  No
  breach

  	
   

  
	
   

  	
  14.12

  	
  Repetition

  	
   

  
	
   

  	
   

  	
   

  
	
  15.

  	
  ADDITIONAL UNDERTAKINGS

  	
   

  
	
   

  	
   

  	
   

  
	
  16.

  	
  MARGIN REGULATION UNDERTAKINGS

  	
   

  
	
   

  	
   

  	
   

  
	
  17.

  	
  ACCELERATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  17.1

  	
  Acceleration by notice

  	
   

  
	
   

  	
  17.2

  	
  Automatic acceleration

  	
   

  
	
   

  	
   

  	
   

  
	
  18.

  	
  CHANGES TO THE PARTIES

  	
   

  
	
   

  	
   

  	
   

  
	
  19.

  	
  NO
  SET-OFF BY THE BORROWER

  	
   

  
	
   

  	
   

  	
   

  
	
  20.

  	
  BUSINESS DAYS

  	
   

  
	
   

  	
   

  	
   

  
	
  21.

  	
  CURRENCY OF ACCOUNT

  	
   

  
	
   

  	
   

  	
   

  
	
  22.

  	
  SET-OFF

  	
   

  
	
   

  	
   

  	
   

  
	
  23.

  	
  LIMITATION OF LIABILITY

  	
   

  
	
   

  	
   

  	
   

  
	
  24.

  	
  NOTICES

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  24.1

  	
  Communications in writing

  	
   

  
	
   

  	
  24.2

  	
  Addresses

  	
   

  
	
   

  	
  24.3

  	
  Delivery

  	
   

  
	
   

  	
   

  	
   

  
	
  25.

  	
  PARTIAL INVALIDITY

  	
   

  
	
   

  	
   

  	
   

  
	
  26.

  	
  REMEDIES AND WAIVERS

  	
   

  
	
   

  	
   

  	
   

  
	
  27.

  	
  AMENDMENTS AND WAIVERS

  	
   

  
	
   

  	
   

  	
   

  
	
  28.

  	
  COUNTERPARTS

  	
   

  
	
   

  	
   

  	
   

  
	
  29.

  	
  GOVERNING LAW

  	
   

  
	
   

  	
   

  	
   

  
	
  30.

  	
  ENFORCEMENT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  30.2

  	
  Service of process

  	
   

  
	
   

  	
   

  	
   

  
	
  SCHEDULE 1

  	
   

  

 

ii

 

	
  SCHEDULE 2

  	
   

  
	
   

  	
   

  
	
  Utilisation
  Request

  	
   

  
	
   

  	
   

  
	
  SCHEDULE 3

  	
   

  
	
   

  	
   

  
	
  VIA Group
  Drawdown Schedule

  	
   

  
	
   

  	
   

  
	
  SCHEDULE 4

  	
   

  
	
   

  	
   

  
	
  Holdco
  Drawdown Schedule

  	
   

  

 

iii

 

THIS
AGREEMENT is dated 26 August 2005 and made between:

 

BETWEEN

 

(1)           VIA NET.WORKS, INC. (“VIA Inc.”)  and VIA NET.WORKS HOLDCO INC.
(“VIA Holdco Inc.”) as borrowers
(together the “Borrowers” and each a “Borrower”); and

 

(2)           MAWLAW 653 LIMITED as lender (the “Lender”).

 

IT
IS AGREED as follows:

 

1.             DEFINITIONS AND
INTERPRETATION

 

1.1           Definitions

 

Unless a contrary
indication appears herein, all terms in this Agreement shall have the same
definition and construction as in the Acquisition Agreement, and:

 

“Acquisition Agreement” means the sale and purchase agreement
dated on or about the date of this Agreement between VIA Inc., the Lender and
Interoute Communications Holdings S.A. relating to the operating subsidiaries
and certain assets and liabilities of the Obligors;

 

“Aggregate Purchaser Liability” has the meaning given to it
in the Acquisition Agreement;

 

“Authorisation” means an authorisation, consent, approval,
resolution, licence, exemption, filing, notarisation or registration;

 

“Availability Period” means the period from the date hereof
to and including the day immediately before the Termination Date;

 

“Available Commitment” means the Commitment to the extent not
cancelled, reduced or repaid under the terms of this Agreement, minus:

 

(a)    the amount of any outstanding Loans; and

 

(b)    in relation to any proposed Utilisation, the amount of any Loans
that are due to be made on or before the proposed Utilisation Date;

 

“Belgian Share Pledges” means the Share Pledge Agreements in
respect of the shares of PSINet Belgium BVBA/SPRL granted by each of the
Pledgor and VIA NET.WORKS UK Holdings Ltd to the Lender on or about the date of
this Agreement;

 

1

 

“Board” means the Board of Governors of the Federal Reserve
System of the United States (or any successor);

 

“Borrower Termination” means the termination of the
Acquisition Agreement by VIA Inc. pursuant to clause 5.4.3 of the Acquisition
Agreement;

 

“Break Costs” means the amount (if any) by which:

 

(a)    the interest which the Lender should have received for the period
from the date of receipt of all or any part of a Loan to the Termination Date
in respect of that Loan, had the principal amount received been paid on the
Termination Date; 

 

exceeds:

 

(b)    the
amount which the Lender would be able to obtain by placing an amount equal to
the principal amount received by it on deposit with a leading bank in London for a
period starting on the Business Day following receipt or recovery and ending on
the Termination Date;

 

“Business Day” means a day (other than a Saturday or Sunday)
on which banks are open for general business in London and Amsterdam;

 

“Closing Date” has the meaning given to it in the Acquisition
Agreement;

 

“Commitment” means up to and including $7,200,000;

 

“Dispute” shall have the meaning given to it in Clause
30.1.1;

 

“dollar” or “$” means the
lawful currency of the United States of America;

 

“Dutch Share Pledge” means the Right of Pledge in respect of
the shares of PSINet Netherlands B.V. granted by the Pledgor to the Lender on
or about the date of this Agreement.

 

“Event of Default” means:

 

(a)    any
failure by an Obligor to meet any payment obligation under any Finance
Documents; and/or

 

(b)    any
Security Document being not in full force and effect or not creating in favour
of the Lender the Security which it is expressed to create with the ranking and
priority it is expressed to have; and/or

 

(c)    the
Guarantee given by VIA Inc, under Clause 13 of this Agreement being not in full
force and effect;

 

2

 

“Facility” means the term loan facilities described as
Facility A and Facility B made available under this Agreement as described in
Clause 2;

 

“Facility A” means the $5,000,000 facility provided in
accordance with Clause 3.1;

 

“Facility B” means the $2,200,000 facility provided in
accordance with Clause 3.2;

 

“Finance Document” means this Agreement, each Security
Document and any other document designated as such by the Lender and the
Borrowers;

 

“First Currency” shall have the meaning given to it in Clause
11.1.1;

 

“German Share Pledge” means the Share Pledge Agreement (Geschäftsanteilsverpfändung) in respect of the shares of
PSINet Germany GmbH, granted by the Pledgor to the Lender on or about the date
of this Agreement;

 

“Group Companies” has the meaning given to it in the
Acquisition Agreement;

 

“Guarantor Release Date” means the earlier to occur of
(i) the Closing Date and (ii) the date upon which all amounts due by VIA Holdco, Inc. to the Lender under this Agreement are
satisfied or discharged;

 

“Holdco Drawdown Schedule” means the drawdown
schedule based on cash funding requirements as set out in Schedule 4;

 

“Jersey Debtco” means a company to be incorporated in Jersey,
which it is proposed will be called “Jersey Debtco 2 Limited” or such similar
name as may be available and whose registered office address it is proposed
will be c/o Professional Trust Company Limited, PO Box 274, 36 Hilgrove Street,
St. Helier, Jersey JE4 8TR;

 

“Loan” means a loan made or to be made under either Facility
A or Facility B or the principal amount outstanding for the time being of that
loan;

 

“Margin Stock” means margin stock or margin security within
the meaning of Regulation T, U or X;

 

“Maturity Date” means, in respect of Facility B, either:

 

(a)    if
a Closing does not take place, the Termination Date; or

 

(b)    if
a Closing has taken place, 30 November 2006 or such other date as VIA
Holdco Inc. and the Lender shall agree in writing;

 

“Obligors” means the Borrowers and the Pledgor and “Obligor” means any one of them;

 

3

 

“Party” means a party to this Agreement;

 

“Pledged Companies” means collectively each of PSINet
Netherlands B.V., PSINet Belgium BVBA/SPRL and PSINet Germany GmbH and “Pledged
Company” means any one of them;

 

“Pledged Company Insolvency Event” means any of the following
in respect of any Pledged Company:

 

(a)    it
makes a general assignment for the benefit of creditors;

 

(b)    it
commences a voluntary case or proceeding under its insolvency laws;

 

(c)    an
involuntary proceeding under any applicable insolvency law is commenced against
it and is not challenged by appropriate means within ten (10) days and, if
challenged (any such challenge to be made only if the
relevant Pledged Company shall have reasonably determined on the basis of
advice of local counsel that such challenge has a reasonable prospect of
success and after consultation with the Lender) is not dismissed or stayed within sixty (60)
days after commencement of such case;

 

(d)    a
custodian, conservator, receiver, liquidator, assignee, trustee, sequestrator
or other similar official is appointed under its insolvency laws for, or takes
charge of, all or a substantial part of the property of the relevant Pledged
Company or any other VIA Group Company; or

 

(e)    any
corporate action is taken by the relevant Borrower or any other VIA Group
Company for the purpose of effecting any of the foregoing;

 

“Pledgor” means VIA Holdco, Inc.;

 

“Regulation T”, “Regulation U”
or “Regulation X” means Regulation T, U or,
as the case may be, X of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof;

 

“Repeating Representations” means each of the representations
set out in Clauses 14.1 to 14.4 and 14.6 to 14.10;

 

“Second Currency” shall have the meaning given to it in
Clause 11.1.1;

 

“Security” means a mortgage, charge, pledge, lien or other
security interest securing any obligation of any person or any other agreement
or arrangement having a similar effect;

 

“Security Assignment” means the assignment by way of security
deed to be entered into between Jersey Debtco (1) and the Lender (2);

 

4

 

“Security Document” means any of:

 

(a)    the German Share Pledge;

 

(b)    the
Dutch Share Pledge;

 

(c)    the
Belgian Share Pledges; 

 

(d)    the
Security Assignment; and

 

(e)    any
other document that may at any time be designated as such by the Lender and the
Borrowers;

 

“Subscription Agreement” means the subscription agreement
between VIA Inc. and MAWLAW 660 Limited relating to the subscription by MAWLAW
660 Limited for 10,810,811 shares of common stock and 5,405,405 shares of
preferred stock of VIA Inc. dated the same date as this Agreement;

 

“Sum” shall have the meaning given to it in Clause 11.1.1;

 

“Tax” means any tax, levy, impost, duty or other charge or
withholding of a similar nature (including any penalty or interest payable in
connection with any failure to pay or any delay in paying any of the same);

 

“Tax Credit” shall have the meaning given to it in Clause
10.1.1;

 

“Tax Deduction” shall have the meaning given to it in Clause
10.1.1;

 

“Tax Payment” shall have the meaning given to it in Clause
10.1.1;

 

“Termination Date” means the date which is the earlier of the
Closing Date and 30 November 2005;

 

“Transaction Documents” has the meaning given to it in the
Acquisition Agreement;

 

“Unpaid Sum” means any sum due and payable but unpaid by any
Obligor under the Finance Documents;

 

“US” or “United States”
means the United States of America and its territories and possessions;

 

“US Bankruptcy Law” means the United States Bankruptcy Code
of 1978, as amended, or any other United States federal or state bankruptcy,
liquidation, receivership, moratorium, conservatorship, assignment for the
benefit of creditors, insolvency or similar law for the relief of debtors;

 

“US Insolvency Event” means any of the following in respect
of either Borrower:

 

5

 

(a)    it makes a general assignment for the benefit of creditors;

 

(b)    it
commences a voluntary case or proceeding under any US Bankruptcy Law;

 

(c)    an
involuntary proceeding under any US Bankruptcy Law is commenced against it and
is not challenged by appropriate means within ten (10) days and, if
challenged (any such challenge to be made only if the
relevant Borrower shall have reasonably determined on the basis of advice of
local counsel that such challenge has a reasonable prospect of success and
after consultation with the Lender), is not dismissed or stayed within sixty (60) days after commencement
of such case; 

 

(d)    a
custodian, conservator, receiver, liquidator, assignee, trustee, sequestrator
or other similar official is appointed under any US Bankruptcy Law for, or
takes charge of, all or a substantial part of the property of the relevant
Borrower or any other VIA Group Company; or

 

(e)    any
corporate action is taken by the relevant Borrower or any other VIA Group
Company for the purpose of effecting any of the foregoing;

 

“Utilisation” means a utilisation of the Facility;

 

“Utilisation Date” means the date of a Utilisation, being the
date on which the relevant Loan is to be made;

 

“Utilisation Request” means a notice substantially in the
form set out in Schedule 2 (Utilisation Request);

 

“VAT” means value added tax as provided for in the United
Kingdom Value Added Tax Act 1994 and any other tax of a similar nature;

 

“VIA Group Companies” means collectively the Obligors and the
Group Companies and “VIA Group Company”
means any of them; and

 

“VIA Group Drawdown Schedule” means the drawdown
schedule based on cash funding requirements as set out in Schedule 3;

 

“VIA Termination Event” means any of: 

 

(a)    the Lender becoming entitled to terminate the Acquisition Agreement
under clause 5.4.1 (but not, for the purpose of this definition, Clause
5.4.1(iv)) or clause 6.6.1 of the Acquisition Agreement;

 

(b)    it
being or becoming unlawful for an Obligor to perform any of its obligations
under the Finance Documents;

 

6

 

1.2           Construction

 

1.2.1        Unless a contrary indication appears, any reference in this Agreement
to:

 

(a)    the
“Lender” shall be construed so as to
include its successors in title, permitted assigns and permitted transferees;

 

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

 

(c)    a
“Finance Document” or any other
agreement or instrument is a reference to that Finance Document or other
agreement or instrument as amended or novated;

 

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

 

(e)    a
“person” includes any person, firm
company, corporation, government, state or agency of a state or any
association, trust or partnership (whether or not having separate legal
personality) or two or more of the foregoing;

 

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

 

(g)    a
provision of law is a reference to that provision as amended or re-enacted.

 

Clause and Schedule headings
are for ease of reference only, and a reference to a “Clause”
or “Schedule” shall be a reference to a
clause or schedule respectively of this Agreement where the context so
permits.

 

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

 

1.3           Third
party rights

 

A person who is
not a Party has no right under the United Kingdom Contracts (Rights of Third
Parties) Act 1999 to enforce or to enjoy the benefit of any term of this
Agreement.

 

2.             THE FACILITY

 

Subject to the
terms of this Agreement, the Lender makes available to the Borrowers a term
loan facility in an amount equal to the Commitment.

 

7

 

3.             PURPOSE

 

3.1           VIA Inc.

 

VIA Inc. may borrow an amount of up to
$5,000,000 (“Facility A”) and shall apply all
amounts borrowed by it under the Facility in accordance with the VIA Group
Drawdown Schedule or as otherwise agreed with the Lender.  Notwithstanding the foregoing, before
borrowing any amounts hereunder, VIA Inc. shall have regard to the anticipated
completion date of the Acquisition Agreement (with the intention of ensuring
that the Group Companies shall have sufficient working capital pursuant to
Clause 3.2 so as to enable such Group Companies to continue in the ordinary
course until completion of the Acquisition Agreement).

 

3.2           VIA Holdco Inc.

 

VIA Holdco Inc., only and not for the
avoidance of doubt, VIA Inc., may borrow an amount of up to $2,200,000 (“Facility B”) and may also borrow all or any part of the
portion (if any) of Facility A not borrowed by VIA Inc. pursuant to Clause 3.1.  VIA Holdco Inc. shall apply all amounts
borrowed under the Facility in accordance with the Holdco Drawdown Schedule or
as otherwise agreed with the Lender.

 

3.3           Monitoring

 

Without prejudice
to its rights under this Agreement, the Lender is not bound to monitor or
verify the application of any amount borrowed pursuant to this Agreement.

 

4.             CONDITIONS OF UTILISATION

 

4.1           Initial
conditions precedent

 

4.1.1        Neither Borrower may deliver a Utilisation Request unless the Lender
has received all of the documents and other evidence listed in Schedule 1
(Conditions precedent) in form and substance reasonably satisfactory to the
Lender. The Lender shall notify the Borrowers promptly in writing upon being so
satisfied.

 

4.1.2        The Borrowers will procure that the conditions precedent are satisfied
as soon as practicable on or after the date of this Agreement.  The Lender will provide all reasonable
assistance to the Borrowers for purposes of satisfying this Clause 4.1.2.

 

4.2           Further
conditions precedent

 

4.2.1        The Lender will only be obliged to comply with Clause 5.4 if on the
date of the Utilisation Request and on the proposed Utilisation Date: 

 

(a)    no
Event of Default, VIA Termination Event or Borrower Termination has occurred or
would result from the proposed Loan; and

 

8

 

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

 

4.2.2        Without prejudice to the provisions of Clause 4.2.1, the Lender
shall not be obliged to comply with Clause 5.4 if on the date of a Utilisation
Request and on the proposed Utilisation Date a Pledged Company Insolvency Event
and/or a US Insolvency Event has occurred that will not be extinguished in full
by the making of the Loan on the Utilisation Date and the use of the proceeds
of such Loan.  

 

4.3           Conditions Subsequent

 

4.3.1        Subject to Clause 4.3.2, the Borrowers shall procure that on or
before the expiry of five (5) Business Days from the date of this
Agreement, the conditions subsequent set out in Schedule 1 (Conditions
Subsequent) are satisfied.  The Lender shall notify the
Borrowers promptly in writing upon being so satisfied and will provide all reasonable assistance to the Borrowers for the
purposes of satisfying this Clause 4.3.1.

 

4.3.2        For the purpose of Clause 4.3.1 only, “Business Day” shall mean a
day (other than a Saturday or Sunday) on which banks are open for general
business in Jersey, London and Amsterdam. 

 

5.             UTILISATION

 

5.1           Delivery
of a Utilisation Request

 

Each Borrower may
utilise the Facility by delivery to the Lender of a duly completed Utilisation
Request not later than five (5), and no earlier than seven (7), Business Days
before the Utilisation Date.

 

5.2           Completion
of a Utilisation Request

 

5.2.1        Each Utilisation Request is irrevocable and will not be regarded as
having been duly completed unless:

 

(a)    the
proposed Utilisation Date is within the Availability Period;

 

(b)    the
currency and amount of the Utilisation comply with Clause 5.3; 

 

(c)    the
amounts requested do not exceed the amounts specified in the VIA Group Drawdown
Schedule and Holdco Drawdown Schedule, as applicable; and

 

(d)    it
specifies the account and bank (which must be in Virginia, London or Amsterdam)
to which the proceeds of the Utilisation are to be credited.

 

5.2.2        Only one (1) Loan for each of Facility A and Facility B may be
requested in each Utilisation Request.

 

9

 

5.3           Currency
and amount

 

5.3.1        The currency specified in a Utilisation Request must be dollars.

 

5.3.2        The amount of the proposed Loan must be less than or equal to the
Available Commitment. 

 

5.4           Availability
of Loans

 

5.4.1        If the conditions set out in this Agreement have been met, the Lender
shall make each Loan available by the Utilisation Date.

 

6.             REPAYMENT

 

6.1           Repayment
of Facility A

 

The Borrowers
shall repay each Loan made under Facility A, together with accrued interest, on
the Termination Date.

 

6.2           Re-borrowing
of Facility A

 

The Borrowers may
not re-borrow any part of Facility A which is repaid.

 

6.3           Repayment of Facility B

 

VIA Holdco Inc. shall repay each Loan made
under Facility B, together with accrued interest, on the Maturity Date.  Subject to Clause 13, VIA Holdco Inc. is
solely responsible for all amounts due and payable under this Agreement in
respect of Facility B.

 

6.4           Re-borrowing of Facility B

 

VIA Holdco Inc. may not re-borrow any part
of Facility B which is repaid.

 

7.             PREPAYMENT AND
CANCELLATION

 

7.1           Mandatory
prepayment and cancellation

 

If it becomes
unlawful in any applicable jurisdiction for the Lender to perform any of its
obligations as contemplated by this Agreement or to fund or maintain any Loan:

 

(a)    the
Lender shall promptly notify the relevant Borrower upon becoming aware of that
event;

 

(b)    upon
the Lender notifying the Borrowers, the Commitment will be immediately
cancelled; and 

 

10

 

(c)    the
Borrowers shall repay the Loans, together with accrued interest, on the date
specified by the Lender in the notice delivered to the Borrowers (being no
earlier than fifteen (15) Business Days from the date of such notice or the
last day of any applicable grace period permitted by law, whichever is later).

 

7.2           Voluntary
prepayment

 

7.2.1        A Borrower may, if it gives the Lender not less than five (5) Business
Days’ prior notice, prepay the whole or any part of any Loan (but, if in part,
being an amount that reduces the amount of the Loan by a minimum amount of
$50,000).

 

7.2.2        A Borrower shall, within three (3) Business Days of demand by the
Lender, pay to the Lender its Break Costs attributable to all or any part of a
Loan prepaid by that Borrower pursuant to Clause 7.2.1 above.

 

7.3           Restrictions

 

7.3.1        Any notice of cancellation or prepayment given by any Party under this
Clause 7 shall be irrevocable and, unless a contrary indication appears in this
Agreement, shall specify the date or dates upon which the relevant cancellation
or prepayment is to be made and the amount of that cancellation or prepayment.

 

7.3.2        Any prepayment under this Agreement shall be made together with accrued
interest on the amount prepaid and, subject to any Break Costs in the case of a
prepayment under Clause 7.2, without premium or penalty.

 

7.3.3        The Borrowers may not re-borrow any part of the Facility which is prepaid,
and accordingly the Commitment in respect of that part of the Facility which is
prepaid shall be deemed to have been cancelled.

 

7.3.4        The Borrowers shall not repay or prepay all or any part of the Loans or
cancel all or any part of the Commitment except at the times and in the manner
expressly provided for in this Agreement.

 

7.3.5        No amount of the Commitment cancelled under this Agreement may be
subsequently reinstated.

 

8.             INTEREST

 

8.1           Accrual

 

8.1.1        Interest shall accrue daily on each Loan at the rate of 12.00 per cent.
per annum.

 

8.1.2        Any interest accruing under Clause 8.1.1 above shall be compounded
daily (and shall thereafter itself bear interest at the rate set out in Clause 8.1.1
above) and shall be payable in accordance with Clause 6, Clause 7 and Clause 17.

 

11

 

8.2           Default
interest

 

8.2.1        Interest shall accrue on any Unpaid Sum from the due date up to the
date of actual payment (both before and after judgment) at a rate which is the
sum of 2.00 per cent. and the rate which would have been payable if the Unpaid
Sum had, during the period of non-payment, constituted a Loan. Any interest
accruing under this Clause 8.2 shall be immediately payable by the relevant
Borrower on demand by the Lender.

 

8.2.2        Default interest (if unpaid) arising on an Unpaid Sum will be
compounded with the overdue amount at the end of each day but will remain
immediately due and payable.

 

9.             COMMITMENT FEE

 

9.1.1        In consideration of the undertaking of the Lender to extend this
facility to the Borrowers, the Borrowers shall pay a commitment fee in
connection with the Facility of $525,000, payable by delivery within seven (7) calendar
days of the date of this Agreement by the issuance to the Lender (or to MAWLAW
660 Limited (registered number 5396159) at the discretion of the Lender) of
14,189,189 shares of VIA Inc. common stock, par value $.001.

 

10.           TAX GROSS UP AND INDEMNITIES

 

10.1        Definitions

 

10.1.1      In
this Agreement:

 

(a)    “Tax Credit” means a credit against, relief or remission for,
or repayment of any Tax.

 

(b)    “Tax Deduction” means a deduction or withholding for or on
account of Tax from a payment under a Finance Document.

 

(c)    “Tax Payment” means either the increase in a payment made by
a Borrower to the Lender under Clause 10.2 or a payment under Clause 10.3.

 

10.1.2      Unless
a contrary indication appears, in this Clause 10 a reference to “determines” or
“determined” means a determination made in the absolute discretion of the
person making the determination.

 

10.2        Tax
gross-up

 

10.2.1      The
Borrowers shall make all payments to be made by it under the Finance Documents
without any Tax Deduction, unless a Tax Deduction is required by law.

 

10.2.2      Each
Borrower shall promptly upon becoming aware that it must make a Tax Deduction
(or that there is any change in the rate or the basis of a Tax Deduction)
notify the Lender accordingly.

 

12

 

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

 

10.2.4      If
a Borrower is required to make a Tax Deduction, that Borrower shall make that
Tax Deduction and any payment required in connection with that Tax Deduction
within the time allowed and in the minimum amount required by law.

 

10.2.5      Within
thirty (30) days of making either a Tax Deduction or any payment required in
connection with that Tax Deduction, the relevant Borrower shall deliver to the
Lender evidence reasonably satisfactory to the Lender that the Tax Deduction
has been made or (as applicable) any appropriate payment paid to the relevant
taxing authority.

 

10.3        Tax
indemnity

 

10.3.1      If
the Lender is or will be subject to any liability, or required to make any
payment, for or on account of Tax in relation to a sum received or receivable
(or any sum deemed for the purposes of Tax to be received or receivable) under
a Finance Document, then the relevant Borrower shall (within three (3) Business
Days of demand by the Lender) pay to the Lender an amount equal to the loss,
liability or cost which the Lender determines will be or has been (directly or
indirectly) suffered for or on account of Tax by it in respect of a Finance
Document.

 

10.3.2      Clause
10.3.1 above shall not apply:

 

(a)    with
respect to any Tax assessed on the Lender under the law of the jurisdiction in
which the Lender is incorporated or, if different, the jurisdiction (or
jurisdictions) in which the Lender is treated as resident for tax purposes if
that Tax is imposed on or calculated by reference to the net income received or
receivable (but not any sum deemed to be received or receivable) by the Lender;
or

 

(b)    to
the extent a loss, liability or cost is compensated for by an increased payment
under Clause 10.2. 

 

(c)    If
the Lender makes, or intends to make, a claim under Clause 10.3.1 above, it
shall promptly notify the relevant Borrower of the event which will give, or
has given, rise to the claim.

 

10.4        Stamp
taxes

 

The Borrowers
shall pay and, within three (3) Business Days of demand, indemnify the
Lender against any cost, loss or liability the Lender incurs in relation to all
stamp duty, registration and other similar Taxes payable in respect of any
Finance Document.

 

13

 

10.5        Value
added tax

 

10.5.1      All
consideration expressed to be payable under a Finance Document by the Borrowers
to the Lender shall be deemed to be exclusive of any VAT.  If VAT is chargeable on any supply made by
the Lender to any Party in connection with a Finance Document, the Borrowers
shall pay to the Lender (in addition to and at the same time as paying the
consideration) an amount equal to the amount of the VAT.

 

10.5.2      Where
a Finance Document requires a Borrower to reimburse the Lender for any costs or
expenses, that Borrower shall also at the same time pay and indemnify the
Lender against all VAT incurred by the Lender in respect of the costs or
expenses.

 

11.           OTHER INDEMNITIES

 

11.1        Currency
indemnity

 

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

 

(a)    making
or filing a claim or proof against that Borrower; or

 

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

 

that Borrower
shall as an independent obligation, within three (3) Business Days of
demand, indemnify the Lender against any cost, loss or liability arising out of
or as a result of the conversion including any discrepancy between (A) the
rate of exchange used to convert that Sum from the First Currency into the
Second Currency and (B) the rate or rates of exchange available to that
person at the time of its receipt of that Sum.

 

11.1.2      Each
Borrower waives any right it may have in any jurisdiction to pay any amount
under the Finance Documents in a currency or currency unit other than that in
which it is expressed to be payable.

 

11.2        Other
indemnities

 

The Borrowers
shall, within three (3) Business Days of demand, indemnify the Lender
against any cost, loss or liability incurred by the Lender as a result of:

 

(a)    a
failure by a Borrower to pay any amount due under a Finance Document on its due
date; or

 

(b)    funding,
or making arrangements to fund, a Loan requested by a Borrower in a Utilisation
Request but not made by reason of the operation of any one or more of the

 

14

 

provisions of
this Agreement (other than by reason of default or negligence by the Lender
alone).

 

12.           ENFORCEMENT COSTS

 

The Borrowers shall, within three (3) Business
Days of demand, pay to the Lender the amount of all costs and expenses
(including legal fees) reasonably incurred by the Lender in connection with the
enforcement of, or the preservation of any rights under, any Finance Document.

 

13.           GUARANTEE AND INDEMNITY

 

13.1        Guarantee and Indemnity

 

VIA Inc. irrevocably and unconditionally:

 

(a)    guarantees to the Lender due and punctual performance by VIA Holdco, Inc.
of all VIA Holdco, Inc.’s obligations under the Finance Documents;

 

(b)    undertakes to the Lender that whenever VIA Holdco, Inc. does
not pay any amount when due under or in connection with any Finance Document,
that VIA Inc. shall immediately on demand pay that amount as if it was the
principal obligor; and

 

(c)    indemnifies the Lender immediately on demand against any cost, loss
or liability suffered by the Lender if any obligation guaranteed by it is or
becomes unenforceable, invalid or illegal. 
The amount of the cost, loss or liability shall be equal to the amount
which the Lender would otherwise have been entitled to recover.

 

13.2        Continuing guarantee

 

This guarantee is a continuing guarantee and will
extend to the ultimate balance of sums payable by VIA Holdco, Inc. under
the Finance Documents, regardless of any intermediate payment or discharge in
whole or in part.

 

13.3        Reinstatement 

 

If any payment by VIA Holdco, Inc. or any
discharge given by the Lender (whether in respect of the obligations of VIA
Holdco, Inc. or any security for those obligations or otherwise) is
avoided or reduced as a result of insolvency or any similar event:

 

(a)    the liability of VIA Holdco, Inc. shall continue as if the
payment, discharge, avoidance or reduction had not occurred; and 

 

(b)    the Lender shall be entitled to recover the value or amount of that
security or payment from VIA Holdco, Inc., as if the payment, discharge,
avoidance or reduction had not occurred.

 

15

 

13.4        Waiver of defences

 

The obligations of VIA Inc. under this Clause 13 will
not be affected by an act, omission, matter or thing which, but for this Clause
13, would reduce, release or prejudice any of its obligations under this Clause
13 (without limitation and whether or not known to it or the Lender) including:

 

(a)    any time, waiver or consent granted to, or composition with, VIA
Holdco, Inc. or other person;

 

(b)    any incapacity or lack of power, authority or legal personality of
or dissolution or change in the members or status of VIA Holdco, Inc. or
any other person;

 

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

 

(d)    any insolvency or similar proceedings.

 

13.5        Additional Security

 

This guarantee is in addition to and is not
in any way prejudiced by any other guarantee or security now or subsequently
held by the Lender.

 

13.6        Release of guarantee

 

VIA Inc. shall be released and discharged
from all of its obligations and liabilities to the Lender in respect of this Clause
13 on the Guarantor Release Date.

 

14.           REPRESENTATIONS

 

Each Borrower
makes the representations and warranties set out in this Clause 14 to the
Lender on the date of this Agreement.

 

14.1        Status

 

14.1.1      Each
Obligor is a corporation, duly incorporated and validly existing under the law
of its jurisdiction of incorporation.

 

14.1.2      It
and each other VIA Group Company has the power to own its assets and carry on
its business as it is being conducted.

 

14.2        Binding
obligations

 

The obligations
expressed to be assumed by each Obligor in each Finance Document are legal,
valid, binding and enforceable obligations.

 

16

 

14.3        Non-conflict
with other obligations

 

The entry into
and performance by each Obligor of, and the transactions contemplated by, the
Finance Documents do not and will not conflict with:

 

(a)    any
law or regulation applicable to it;

 

(b)    its
or any other VIA Group Company’s constitutional documents; or

 

(c)    any
agreement or instrument binding upon it or any other VIA Group Company or any
of its or any other VIA Group Company’s assets;

 

nor (except as
provided in any Security Document) result in the existence of, or oblige it to
create, any Security over any of its assets

 

14.4        Power
and authority

 

Each Obligor has
the power to enter into, perform and deliver, and has taken all necessary
action to authorise its entry into, performance and delivery of, the Finance
Documents to which it is a party and the transactions contemplated by those
Finance Documents.

 

14.5        Validity
and admissibility in evidence

 

All
Authorisations required or desirable:

 

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

 

(b)    to
make the Finance Documents to which an Obligor is a party admissible in
evidence in its jurisdiction of incorporation,

 

have been
obtained or effected and are in full force and effect.

 

14.6        Governing
law and enforcement

 

14.6.1      The
choice of English law as the governing law of this Agreement will be recognised
and enforced in its jurisdiction of incorporation.

 

14.6.2      Any
judgment obtained in England in relation to a Finance Document will be recognised
and enforced in its jurisdiction of incorporation.

 

14.7        Pari passu ranking

 

Each Obligor’s
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.

 

17

 

14.8        Pledged
shares

 

14.8.1      The
shares which are expressed to be subject to any Security under any Security
Document are issued, fully paid, non-assessable, solely owned by the Pledgor,
free of all Encumbrances other than the Security created under the Security
Documents, and freely transferable and pledgeable, and there are no moneys or
liabilities outstanding or payable in respect of any such share. 

 

14.8.2      No
person has or is entitled to any conditional or unconditional option, warrant
or other right to call for the issue or allotment of, subscribe for, purchase
or otherwise acquire any share capital of any Pledged Company (including any
right of pre-emption, conversion or exchange).

 

14.8.3      There
are no agreements in force or corporate resolutions passed which require or
might require the present or future issue or allotment of any share capital of
any Pledged Company (including any option or right of pre-emption, conversion
or exchange).

 

14.8.4      The
shares subject to the Security created by the Security Documents constitute all
of the issued share capital of the Pledged Companies and there are no
depository receipts issued with the cooperation of the Pledged Company.

 

14.8.5      There
are no silent partnership agreements, profit and loss pooling agreements or
equivalent arrangements by which a third party is entitled to a participation
in the profits or revenue of a Pledged Company. 

 

14.8.6      Each
Security Document validly creates the Security which it purports to create and
each such Security is a first priority Security over the shares of the relevant
Pledged Company.

 

14.9        Margin
regulation representations

 

14.9.1      No
Obligor is engaged principally, or as one of its important activities, in the
business of owning or extending credit for the purpose of purchasing or
carrying any Margin Stock.

 

14.9.2      The
proceeds of the Loans will not be used, directly or indirectly, in whole or in
part, for “purchasing” or “carrying” Margin Stock or for any purpose which
might (whether immediately, incidentally or ultimately) cause all or any part
of the Loans to be a “purpose credit” within the meaning of Regulation U or
Regulation X.

 

14.9.3      Neither
an Obligor nor any agent acting on its behalf has taken or will take any action
which might cause any Finance Document or any document delivered under or in
connection with any Finance Document to violate any regulation of the Board
(including Regulation T, U or X) or violate the United States Securities
Exchange Act of 1934 or any applicable US federal or state securities law. 

 

14.10      US
regulation representations

 

No Obligor is or
(in the case of paragraph (e) below) has:

 

18

 

(a)    a
“holding company”, an “affiliate” of a “holding company” or a “subsidiary
company” of a “holding company” within the meaning of, or subject to regulation
under, the United States Public Utility Holding Company Act of 1935;

 

(b)    a
“public utility” within the meaning of, or subject to regulation under, the
United States Federal Power Act of 1920;

 

(c)    an
“investment company” or a company “controlled” by an “investment company”
within the meaning of the United States Investment Company Act of 1940;

 

(d)    subject
to regulation under any United States federal or state law or regulation that
limits its ability to incur or guarantee indebtedness; or

 

(e)    used
any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expenses relating to political activity; made any direct or indirect
unlawful payment to any foreign or domestic government official or employee
from corporate funds, or made any bribe, rebate, payoff, influence payment,
kickback or other unlawful payment to any foreign or domestic government
official or employee.

 

14.11      No
breach

 

Each Obligor has
complied with all of the provisions of the Finance Documents that are
applicable to it.

 

14.12      Repetition

 

The Repeating
Representations are deemed to be made by each Borrower by reference to the
facts and circumstances then existing on the date of each Utilisation Request.

 

15.           ADDITIONAL UNDERTAKINGS 

 

Each Borrower
gives the same undertakings to the Lender as given by the Sellers to the
Purchasers in clause 5.1 and clause 5.2 of the Acquisition Agreement.

 

16.           MARGIN REGULATION UNDERTAKINGS

 

16.1.1      The
Borrowers shall use the proceeds of the Loans without violating Regulation T, U
or X or any other applicable US federal or state laws or regulations.  

 

16.1.2      If
requested by the Lender and necessary to permit the Lender to comply with
applicable law, a Borrower shall, upon written request, furnish to the Lender a
statement in conformity with the requirements of FR Form U-1 referred to
in Regulation U.

 

19

 

17.           ACCELERATION

 

17.1        Acceleration
by notice

 

17.1.1      On
and at any time after the occurrence of an Event of Default which is
continuing, the Lender may immediately:

 

(a)    cancel the Commitment whereupon it shall immediately be cancelled;
and 

 

(b)    by written notice to the Borrowers, declare that all Loans
outstanding, together with accrued interest, and all other amounts accrued or
outstanding under the Finance Documents, be immediately due and payable,
whereupon they shall become immediately due and payable.

 

17.1.2      On
and at any time after the occurrence of a VIA Termination Event or Borrower
Termination, the Lender may immediately cancel the Commitment whereupon it
shall immediately be cancelled, and by twenty (20) (in the case of a VIA
Termination Event) or forty (40) (in the case of a Borrower Termination) days’
notice to the Borrowers:

 

(a)    declare
that all or part of the Loans, together with accrued interest, and all other
amounts accrued or outstanding under the Finance Documents be immediately due
and payable, whereupon they shall become due and payable on the expiry of such
twenty (20) or forty (40) day period (as the case may be); or

 

(b)    declare
that all or part of the Loans be payable on demand, whereupon they, together
with accrued interest and all other amounts accrued or outstanding under the
Finance Documents, shall become payable on demand by the Lender made after such
twenty (20) or forty (40) day period (as the case may be).

 

17.2        Automatic
acceleration

 

If any US
Insolvency Event occurs in relation to a Borrower or if any Pledged Company
Insolvency Event occurs:

 

(a)    the
Commitment shall immediately be cancelled; and

 

(b)    all
of the Loans, together with accrued interest, and all other amounts accrued
under the Finance Documents shall become immediately due and payable,

 

in each case
automatically and without any direction, notice, declaration or other act.

 

18.           CHANGES TO THE PARTIES

 

No Party may
assign any of its rights or transfer any of its rights or obligations under the
Finance Documents, save that the Lender may assign any or all of its rights
under this Agreement without the Borrowers’ consent following the occurrence of
a VIA Termination Event.

 

20

 

19.           NO SET-OFF BY THE
BORROWER

 

All payments to
be made by the Borrowers under the Finance Documents shall be calculated and be
made without (and free and clear of any deduction for) set-off or counterclaim.

 

20.           BUSINESS DAYS

 

20.1.1      Any
payment which is due to be made on a day that is not a Business Day shall be
made on the next Business Day in the same calendar month (if there is one) or
the preceding Business Day (if there is not).

 

20.1.2      During
any extension of the due date for payment of any principal or an Unpaid Sum
under this Agreement interest is payable on the principal or Unpaid Sum at the
rate payable on the original due date.

 

21.           CURRENCY OF ACCOUNT

 

21.1.1      Subject
to Clause 21.1.2 below, United States dollars is the currency of account and
payment for any sum due from the Borrowers under any Finance Document.

 

21.1.2      Each
payment in respect of costs, expenses or Taxes shall be made in the currency in
which the costs, expenses or Taxes are incurred.

 

22.           SET-OFF

 

22.1.1      The
Lender may set off any obligation due from either Borrower under the Finance
Documents against any obligation owed by the Lender to that Borrower,
regardless of the place of payment or currency of either obligation. If the
obligations are in different currencies, the Lender may convert either
obligation at a market rate of exchange determined by the Lender (acting
reasonably) for the purpose of the set-off.

 

22.1.2      Without
prejudice to the generality of Clause 22.1.1 above, the Lender and each
Borrower acknowledge that all amounts (including the Purchase Price (as defined
in the Acquisition Agreement)), if any, payable by the Purchaser ( as defined
in the Acquisition Agreement) to VIA Inc. under the Acquisition Agreement shall
be paid net of all amounts owing by VIA Inc. to the Lender under the Finance
Documents, provided that, for the avoidance of doubt, there shall be no
deduction from the Purchase Price for any payments, including principal and
interest payable by VIA Holdco Inc. in respect of Facility A and/or Facility B.

 

23.           LIMITATION OF LIABILITY

 

The Lender’s aggregate liability for all or
any breaches of any of the Transaction Documents is limited to the Aggregate
Purchaser Liability, save that the Borrowers may, subject to Clause 30
(Enforcement), commence proceedings in which the sole remedy

 

21

 

which it may seek is specific performance
of the Lender’s obligations (if any) to make Loans available in accordance with
Clause 5.4 (Availability of Loans), and the Lender shall in particular not be
liable for any loss, liability or cost incurred by the Borrowers or any other
person resulting from any failure by the Lender to comply with the terms of the
Finance Documents above the Aggregate Purchaser Liability.

 

24.           NOTICES

 

24.1        Communications
in writing

 

Any communication
to be made under or in connection with the Finance Documents shall be made in
writing and, unless otherwise stated, may be made by fax or letter.

 

24.2        Addresses

 

24.2.1      A notice to an Obligor shall be sent to the following address, or
such other person or address as the Borrowers may notify to the Lender from
time to time:

 

VIA NET.WORKS Inc

H. Walaardt Sacrestraat 401-403

1117 BM Schiphol

The Netherlands

 

Fax:          +31 20 5020 0001

 

Attention: 
Matt Stuart Nydell (Senior Vice President and General Counsel 

and Secretary)

 

with a copy to:

 

Hogan & Hartson

One Angel Court

London EC2R 7HJ

United Kingdom

 

Fax:          +44 20 7367 0220

 

Attention:          John M. Basnage

 

24.2.2      A notice to the Lender shall be sent to the following address, or
such other person or address as the Lender may notify to the Obligors from time
to time:

 

MAWLAW 653 Limited

Walbrook Building,

195 Marsh Wall,

 

22

 

London E14 9SG

United Kingdom

 

Fax:             +44 20 7025 9855

 

Attention:  General Counsel

 

24.3        Delivery

 

24.3.1      Any
communication or document made or delivered by the Lender to a Borrower under
or in connection with the Finance Documents will only be effective:

 

(a)    if
by way of fax, when received in legible form; or

 

(b)    if
by way of letter, when it has been left at the relevant address or two (2) Business
Days after being deposited in the post postage prepaid in an envelope addressed
to it at that address,

 

and, if a
particular officer is specified as part of its address details provided under
Clause 24.2, if addressed to that officer.

 

24.3.2      Any
communication or document to be made or delivered to the Lender will be
effective only when actually received by the Lender and then only if it is
expressly marked for the attention of the officer identified with the Lender’s
signature below (or any substitute officer as the Lender shall specify for this
purpose).

 

25.           PARTIAL INVALIDITY

 

If, at any time,
any provision of the Finance Documents is or becomes illegal, invalid or
unenforceable in any respect under any law of any jurisdiction, neither the
legality, validity or enforceability of the remaining provisions nor the
legality, validity or enforceability of such provision under the law of any
other jurisdiction will in any way be affected or impaired.

 

26.           REMEDIES AND WAIVERS

 

No failure to
exercise, nor any delay in exercising, on the part of the Lender, any right or
remedy under the Finance Documents shall operate as a waiver, nor shall any
single or partial exercise of any right or remedy prevent any further or other
exercise or the exercise of any other right or remedy. The rights and remedies
provided in this Agreement are cumulative and not exclusive of any rights or
remedies provided by law.

 

27.           AMENDMENTS AND WAIVERS

 

No term of any of
the Finance Documents may be amended or waived without the prior written
consent of the Lender and the Borrowers.

 

23

 

28.           COUNTERPARTS

 

Each Finance
Document may be executed in any number of counterparts, and this has the same
effect as if the signatures on the counterparts were on a single copy of the
Finance Document.

 

29.           GOVERNING LAW

 

This Agreement is
governed by English law.

 

30.           ENFORCEMENT

 

30.1.1      Jurisdiction

 

(a)    The
courts of England have exclusive jurisdiction to settle any dispute arising out
of or in connection with this Agreement (including a dispute regarding the
existence, validity or termination of this Agreement) (a “Dispute”).

 

(b)    The
Parties agree that the courts of England are the most appropriate and
convenient courts to settle Disputes and accordingly no Party will argue to the
contrary.

 

30.2        Service
of process

 

Without prejudice
to any other mode of service allowed under any relevant law, each Borrower:

 

(a)    irrevocably
appoints Hogan & Hartson Corporate Services Company Limited, One Angel
Court, London EC2R 7HJ as its agent for service of process in relation to any
proceedings before the English courts in connection with any Finance Document;
and

 

(b)    agrees
that failure by a process agent to notify either Borrower of the process will
not invalidate the proceedings concerned.

 

24

 

In witness whereof this Agreement has been
duly executed as a Deed on the date first above written.

 

 

	
  SIGNED as a Deed by and

  on behalf of VIA NET.WORKS, Inc.:

  	
  

  	
  /s/

  
	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SIGNED as a Deed by and

  on behalf of VIA NET.WORKS

  HOLDCO Inc.:

  	
  

  	
  /s/

  
	
   

  	
   

  
	
   

  	
   

  
	
  SIGNED as a Deed by and

  on behalf of MAWLAW 653

  LIMITED:

  	
  

  	
  /s/

  

 

25

 

SCHEDULE 1

 

1.             CONDITIONS
PRECEDENT

 

1.1           Obligors

 

(a)    A
copy of the constitutional documents of each Obligor.

 

(b)    A
copy of a resolution of the board of directors of each Obligor:

 

(i)       approving the terms of, and the transactions contemplated by, the
Finance Documents to which it is a party and resolving that it execute the
Finance Documents to which it is a party;

 

(ii)      authorising a specified person or persons to execute the Finance
Documents to which it is a party on its behalf; and

 

(iii)     authorising a specified person or persons, on its behalf, to sign
and/or despatch all documents and notices (including, if relevant, any
Utilisation Request) to be signed and/or despatched by it under or in
connection with the Finance Documents to which it is a party.

 

(c)    A
specimen of the signature of each person authorised by the resolution referred
to in paragraph (b) above.

 

(d)    A
copy of a resolution signed by all the holders of the issued shares in the
Pledgor, approving the terms of, and the transactions contemplated by, the
Finance Documents to which the Pledgor is a party.

 

(e)    A
certificate of each Borrower (signed by a director) confirming that borrowing
the Commitment would not cause any borrowing or similar limit binding on the
relevant Borrower to be exceeded.

 

(f)     A
certificate of an authorised signatory of the relevant Obligor certifying that
each copy document relating to it specified in this Schedule 1 is correct,
complete and in full force and effect as at a date no earlier than the date of
this Agreement.

 

1.2           Documents

 

(a)    A
copy of the Acquisition Agreement, Management Agreement, Subscription Agreement
and each Finance Document, in a form agreed by the Lender and duly executed by
all parties thereto (together with any notarisations required in connection
such execution).

 

(b)    In
respect of the Belgian Share Pledges:

 

(i)       a copy of each of the Belgian Share Pledges; and

 

(ii)      a copy of the share register of PSINet Belgium BVBA/SPRL evidencing
the record of the pledge in accordance with the Belgian Share Pledge.

 

26

 

(iii)     a copy of the shareholders’ resolutions of PSINet Belgium BVBA/SPRL permitting
the transfer of its shares in the context of the Belgian Share Pledges.

 

(c)    In
respect of the Dutch Share Pledge:

 

(i)       a notarial copy of the Right of Pledge; and

 

(ii)      a copy of the share register of the PSINet Netherlands B.V.
evidencing the record of the pledge in accordance with the Dutch Share Pledge.

 

(d)    In
respect of the German Share Pledge:

 

(i)       certified copy of the Share Pledge Agreement;

 

(ii)      copies of the declarations of consent to be sent to the pledgee and
the pledgor and the public notary including the respective evidences of
receipt; and 

 

(iii)     copy of the notification letter to PSINET Germany GmbH including
acknowledgement or evidence of receipt.

 

1.3           Legal Opinions

 

In respect of
each of the Security Documents, a legal opinion of the legal advisers to the
Obligors in the relevant jurisdiction.

 

2.             CONDITIONS
SUBSEQUENT

 

2.1           Security Assignment

 

(a)    In respect of the Security Assignment:

 

(i)       A copy of the Security Assignment; 

 

(ii)      A copy of the documents transferring the benefit of the intra-group
receivables in relation to the Pledged Companies to Jersey Debtco;

 

(iii)     A copy of the board resolutions of Jersey Debtco in relation to the
Security Assignment and financial assistance; and

 

(iv)     A copy of the shareholder resolutions of Jersey Debtco in relation
to the Security Assignment and financial assistance (as referred to in the
board resolutions of Jersey Debtco).

 

27

 

SCHEDULE 2

 

Utilisation
Request

 

	
  From:

  	
  [VIA
  NET.WORKS, INC./VIA NET.WORKS HOLDCO INC.]

  
	
   

  	
  H. Walaardt Sacrestraat 401-403

  
	
   

  	
  1117 BM Schiphol

  
	
   

  	
  The Netherlands

  
	
   

  	
   

  
	
  To:

  	
  [Lender]

  
	
   

  	
   

  
	
  Dated:

  	
  2005

  

 

Ladies and
Gentlemen:

 

VIA
NET.WORKS INC./VIA NET.WORKS HOLDCO INC. – $7,200,000 Facility Agreement

dated            2005 (the
“Acquisition Agreement”)

 

We refer to the
Acquisition Agreement.  This is a Utilisation Request. Terms defined
in the Acquisition Agreement have
the same meaning in this Utilisation Request unless given a different meaning
in this Utilisation Request. 

 

We shall apply
all amounts borrowed under [Facility A] [Facility B]* for the purposes
specified in [Clause 3.1] [Clause 3.2]* of the Acquisition Agreement.

 

We wish to borrow
a Loan under Facility [A/B]* on the following terms:

 

Proposed
Utilisation Date:             [                   ]

 

Amount:          [                   ]
or, if less, the Available Commitment

 

We confirm that
each condition specified in Clause 4.2 of the Acquisition Agreement is
satisfied on the date of this Utilisation Request.

 

The proceeds of
this Loan should be credited to :

 

Bank Name and
Address:

Account Name:

Account Number:

Sort Code:

Swift Address:

 

This Utilisation
Request is irrevocable.

 

Yours faithfully

 

authorised
signatory for VIA NET.WORKS, Inc.

 

* delete as appropriate

 

28

 

SCHEDULE 3

 

VIA
Group Drawdown Schedule

 

Facility A

 

	
  Aug 29 to Sep 2

  	
   

  	
  Sep 5 to 9

  	
   

  	
  Sep 19 to 23

  	
   

  	
  Oct 10 to14

  	
   

  
	
  $

  	
  2,430,000

  	
   

  	
  $

  	
  750,000

  	
   

  	
  $

  	
  750,000

  	
   

  	
  $

  	
  1,070,000

  	
   

  
												

 

29

 

SCHEDULE 4

 

Holdco
Drawdown Schedule

 

Facility B

 

	
  Aug 29 to Sep 2

  	
   

  	
  Sep 12 to 16

  	
   

  	
  Oct 10 to 14

  	
   

  
	
  $

  	
  275,900 

  	
   

  	
  $

  	
  843,900 

  	
   

  	
  $

  	
  1,075,900 

  	
   

  
									

 

30

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