Document:

Exhibit 4.45

 

EXECUTION VERSION

 

AMENDMENT AND RESTATEMENT AGREEMENT

 

dated January 19, 2010

 

 

BETWEEN

 

 

Future
Entertainment S.à r.l.

 

as the Pledgor

 

 

AND

 

Deutsche
Bank AG, London Branch

 

as the Pledgee

 

 

RELATING TO AN ACCOUNTS PLEDGE
AGREEMENT DATED MAY 15, 2009,

AS AMENDED AND RESTATED ON
OCTOBER 29, 2009

 

 

 

18-20, rue Edward Steichen

L - 2540 LUXEMBOURG

 

 

THIS AMENDMENT AND RESTATEMENT AGREEMENT IS DATED
JANUARY 19, 2010 AND IS MADE BETWEEN:

 

(1)           Future Entertainment S.à r.l., a Luxembourg private limited liability company (société à responsabilité limitée), with
registered office at Media Center Betzdorf, 11 rue Pierre Werner, L-6832
Betzdorf, Grand Duchy of Luxembourg, registered with the Luxembourg Register of
Commerce and Companies under number B 145.414 and having a share capital of GBP
400,000 (the Pledgor);

 

AND

 

(2)           Deutsche Bank AG, London Branch,  acting as security trustee for the benefit
of the Beneficiaries (as defined in the Amended and Restated Accounts Pledge
Agreement (as defined below)) (the Pledgee).

 

The Pledgor and the Pledgee shall each be
referred to as a Party and, collectively, the Parties.

 

WHEREAS:

 

(A)          Pursuant to a senior facilities agreement dated March
3, 2006 (as amended and restated on May 22, 2006, July 10, 2006, August 10,
2006, April 4, 2007, May 15, 2008, November 10, 2008, October 30, 2009 and
January 8, 2010 and as amended, restated, supplemented or novated from time to
time) between Virgin Media Inc., Virgin Media Finance plc, Virgin Media
Investment Holdings Limited (formerly known as NTL Investment Holdings
Limited), Telewest Communications Networks Limited, VMIH Sub Limited (formerly
known as NTLIH Sub Limited) as UK Borrowers, Virgin Media Dover LLC (formerly
known as NTL Dover LLC) as US Borrower, the Pledgee, J.P. Morgan plc, The Royal
Bank of Scotland plc and Goldman Sachs International as Bookrunners and as
Mandated Lead Arrangers, the Pledgee as Facility Agent and as Security Trustee,
Deutsche Bank AG, New York Branch as US Paying Agent, GE Corporate Banking
Europe SAS as Administrative Agent, the Pledgee as Original L/C Bank and the
persons named therein as Lenders (the Senior
Facilities Agreement), the Lenders have made available to the
Borrowers (as defined therein) certain facilities for the purposes referred to
in paragraphs (a) to (f) of Clause 2.4 thereof.

 

(B)           In order to secure the Borrowers’ obligations under
the Senior Facilities Agreement, the Pledgor agreed for the benefit of the
Pledgee to grant a first ranking security interest (gage de
premier rang) over the Pledged Assets (as defined in the Amended and
Restated Accounts Pledge Agreement (as defined below)) pursuant to an accounts
pledge agreement entered into by and between the Pledgor and the Pledgee dated
May 15, 2009, as amended and restated on October 29, 2009 (the Accounts Pledge Agreement).

 

(C)           The Parties now intend to amend and restate the
Account Pledge Agreement by entry into this Agreement, which the Pledgor
declares to be in its best corporate interest.

 

 

IT IS AGREED as follows:

 

1.           DEFINITIONS
AND INTERPRETATION

 

1.1         Definitions

 

In this Agreement:

 

Amended and
Restated Accounts Pledge Agreement means the Accounts Pledge Agreement, as amended and restated in the
form set out in Schedule 1 (Form of Amended
and Restated Accounts Pledge Agreement).

 

1.2         Incorporation of defined terms

 

Unless a contrary
indication appears, terms defined in the Amended and Restated Accounts Pledge
Agreement and used in this Agreement have the meaning ascribed to them in the
Amended and Restated Accounts Pledge Agreement.

 

1.3         Clauses

 

In this Agreement any reference to a “Clause”
or a “Schedule” is, unless the context otherwise requires, a reference to a
Clause of or a Schedule to this Agreement.

 

1.4         Designation

 

This Agreement is to be considered as a
Senior Finance Document for the purpose of the Group Intercreditor Deed.

 

2.           REPRESENTATIONS

 

The Pledgor repeats the representations and
warranties contained in Clause 6 of the Amended and Restated Accounts Pledge
Agreement, by reference to the facts and circumstances existing on the date of
this Agreement. However, references to “this Agreement” shall instead refer to
the “Amended and Restated Accounts Pledge Agreement” and/or this Agreement,
where relevant.

 

 

3.           AMENDMENT

 

3.1         Amendment

 

With effect from the date of this Agreement,
the Accounts Pledge Agreement shall be amended and restated in the form set out
in Annex 1 (Form of Amended and Restated
Accounts Pledge Agreement).

 

3.2         Continuing obligations and
security interests

 

The provisions of the Amended and Restated
Accounts Pledge Agreements and the first ranking security interest (gage de premier rang) initially created under the Accounts
Pledge Agreement shall continue in full force and effect and shall be preserved
for the benefit of the Pledgee.

 

The first ranking security interest (gage de premier rang) created initially under the Accounts
Pledge Agreements will be maintained and preserved for the benefit of the
Pledgee and it will be held and administered by the Pledgee in accordance with the
Amended and Restated Accounts Pledge Agreement. Neither the obligations of the
Pledgor and the Luxembourg Account Bank contained in the Accounts Pledge
Agreement nor the rights, powers and remedies conferred upon the Pledgee or by
law, nor the first ranking security interest (gage de
premier rang) created thereby shall be discharged, released,
impaired or otherwise affected by this Agreement.

 

The Pledgor hereby confirms that the first
ranking security interest (gage de premier rang)
created under the Amended and Restated Accounts Pledge Agreements shall secure
and remain to secure the Secured Obligations.

 

4.           NOTIFICATION

 

The Pledgor shall notify within 1 (one)
Business Day after the date of this Agreement to the Luxembourg Account Bank
(as defined in the Amended and Restated Accounts Pledge Agreement) in
accordance with article 5(3) of the Luxembourg law of August 5, 2005 on
financial collateral arrangements, such notice to be in the form set out in
Annex 1 (the Notice of Amendment) and to be
delivered to the Luxembourg Account Bank together with a copy of this Agreement
attaching the Amended and Restated Accounts Pledge Agreement, and shall
instruct the Luxembourg Account Bank to sign the acknowledgment of the Notice
of Amendment, to be in the form as set out in Annex 2, within 3 (three)
Business Days after the date 

 

 

of this Agreement.

 

5.           COUNTERPARTS

 

This Agreement 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 this Agreement.

 

6.           GOVERNING LAW AND JURISDICTION

 

6.1         This Agreement shall be governed by, and be construed
in accordance with, Luxembourg law.

 

6.2         With respect to any proceedings arising in connection
with this Agreement, the Pledgor irrevocably submits to the jurisdiction of the
Luxembourg courts, notwithstanding the right of the Pledgee and each
Beneficiary to take proceedings in any other jurisdiction.

 

[signature page to follow]

 

 

IN WITNESS THEREOF the Parties hereto have executed this Agreement in
one or multiple original counterparts, all of which together evidence the same
Agreement, on the day and year first written above.

 

 

	
  The Pledgor

  	
   

  
	
  Future Entertainment S.à
  r.l.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   /s/ EMMA JONES

  	
   

  
	
  Represented by: Emma Jones

  	
   

  
	
  Title: 
  General Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  The Pledgee

  	
   

  
	
  Deutsche Bank AG, London Branch

  	
   

  
	
  as
  Pledgee for the benefit of the Beneficiaries

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   /s/
  N. DAWES

  	
   

  
	
  Represented
  by:   N. Dawes

  	
   

  
	
  Title:  V.P.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   /s/
  V. MAYELL

  	
   

  
	
  Represented
  by:   V. Mayell

  	
   

  
	
  Title:  A.V.P.

  	
   

  

 

 

 

ANNEX 1

 

FORM OF AMENDED AND RESTATED ACCOUNTS PLEDGE AGREEMENT

 

 

ACCOUNTS PLEDGE AGREEMENT

 

Dated May 15, as amended and restated on
October 29, 2009 and on January 19, 2010

 

BETWEEN

 

 

Future Entertainment S.à.r.l

 

As the Pledgor

 

 

AND

 

 

Deutsche Bank AG, London Branch

 

As the Pledgee

 

 

 

18-20 rue Edward Steichen

L - 2540
LUXEMBOURG

 

 

THIS ACCOUNTS PLEDGE AGREEMENT IS DATED MAY 15, 2009, AS
AMENDED AND RESTATED ON OCTOBER 29, 2009 AND JANUARY 19, 2010 (the Agreement)
AND IS MADE BETWEEN:

 

(1)           Future Entertainment S.à r.l., a
Luxembourg private limited liability company (société à responsabilité
limitée), having its registered office at Media Center Betzdorf, 11 rue Pierre
Werner, L-6832 Betzdorf, Grand Duchy of Luxembourg, registered with the Luxembourg
Register of Commerce and Companies under number B 145.414 and with a share
capital of GBP 400,000 (the Pledgor),

 

AND

 

(2)           Deutsche Bank AG, London Branch,
acting as security trustee for the benefit of the Beneficiaries (as defined
below) (the Pledgee).

 

The Pledgor and the Pledgee shall each be referred
to as a Party and, collectively,
the Parties.

 

WHEREAS:

 

(A)          Pursuant to a senior facilities agreement dated March 3, 2006 (as amended
and restated on May 22, 2006, July 10, 2006, August 10, 2006, April 4, 2007,
May 15, 2008, November 10, 2008, October 30, 2009 and January 8, 2010 and as
amended, restated, supplemented or novated from time to time) between Virgin
Media Inc., Virgin Media Finance plc, Virgin Media Investment Holdings Limited
(formerly known as NTL Investment Holdings Limited), Telewest Communications
Networks Limited, VMIH Sub Limited (formerly known as NTLIH Sub Limited) as UK
Borrowers, Virgin Media Dover LLC (formerly known as NTL Dover LLC) as US
Borrower, the Pledgee, J.P. Morgan plc, The Royal Bank of Scotland plc and
Goldman Sachs International as Bookrunners and as Mandated Lead Arrangers, the
Pledgee as Facility Agent and as Security Trustee, Deutsche Bank AG, New York
Branch as US Paying Agent, GE Corporate Banking Europe SAS as Administrative
Agent, the Pledgee as Original L/C Bank and the persons named therein as
Lenders (the Senior Facilities Agreement),
the Senior Lenders have made available to the Borrowers certain facilities for
the purposes referred to in paragraphs (a) to (f) of Clause 2.4 thereof.

 

(B)          Virgin Media Secured Finance PLC has agreed to issue and sell the Senior
Secured Notes (as defined in the Senior Secured Notes Indenture, as defined
below) under the Senior Secured Notes Indenture(as defined below).

 

(C)          Pursuant to an accounts pledge agreement dated May 13, 2009 (the Former Agreement), the Parties have created
a pledge over the Pledged Assets (as defined hereafter) and the Parties
resolved to release the pledge created under the Former Agreement.

 

(D)          Pursuant to accession notices dated May 15, 2009, the Company acceded to
the Senior Facilities Agreement as an Acceding Guarantor (as defined therein),
the Group 

 

 

Intercreditor Deed as an Obligor (as defined
therein) and the Security Trust Agreement as an Obligor (as defined therein.

 

(E)           For the purpose of securing the Secured Oligations (as defined below),
the Pledgor has pledged and granted to the Pledgee a first ranking security
interest (gage de premier rang) over the Pledged
Accounts by virtue of this Agreement.

 

IT IS AGREED as follows:

 

1.             DEFINITIONS

 

1.1.         Recitals

 

Recitals (A) to and including (E) above are an
integral part of this Agreement.

 

1.2.         Definitions

 

Unless the context otherwise requires or unless
otherwise defined in this Agreement, words and expressions defined in the Group
Intercreditor Deed and (unless otherwise defined in the Group Intercreditor
Deed) the Relevant Facilities Agreement shall have the same meaning when used
in this Agreement:

 

Agreement
means this first ranking accounts pledge agreement.

 

Beneficiaries
means the First Beneficiary and the Second Beneficiaries.

 

Business Day
means a day (other than a Saturday or Sunday) on which banks are open for
general business in London and Luxembourg.

 

Enforcement Event
means the date on which, following the occurrence of an Event of Default that
is continuing, either the Relevant Agent or the Security Trustee notifies the
Pledgor of the occurrence of that Event of Default, or takes, under any one or
more of the Senior Finance Documents, any of the steps it is entitled to take
by reason of the occurrence of such Event of Default.

 

Event of Default
means each of:

 

(a)            a
Senior Default; and

 

(b)           an event of default or termination event (however described) under any
Hedging Agreement.

 

Group Intercreditor Deed means an intercreditor deed dated March 3, 2006, as amended and restated
on June 13, 2006, July 10, 2006, July 31, 2006, May 15, 2008, October 30, 2009
and January 8, 2010 between the Security Trustee, the Facility Agent, the
Original Senior Borrowers, the Original Senior Guarantors, the Senior Lenders,
the Hedge Counterparties, the Intergroup Debtors and the Intergroup Creditors.

 

 

Luxembourg Account Bank
means RBS Global Banking (Luxembourg) S.A. (formerly ABN AMRO Bank (Luxembourg)
S.A.), having its registered office at 46, Avenue J.F. Kennedy, L-1855
Luxembourg, Grand Duchy of Luxembourg.

 

Pledged Accounts
means the bank accounts of the Pledgor opened with the Luxembourg Account Bank
(including any sub-account, renewal, redesignation or replacement thereof),
with Swift code [intentionally omitted] and numbers:

 

·                                           [intentionally omitted] (EUR)

·                                           [intentionally omitted]  (GBP)

·                                           [intentionally omitted]  (USD).

 

Pledged Assets
means all the assets whether present or future, whether actual or contingent,
which the Pledgor has or will have in the Pledged Accounts.

 

Pledge
means the first ranking security interest (gage de premier rang) on the Pledged
Assets constituted by this Agreement.

 

Relevant Facilities Agreement means the Senior Facilities Agreement, or, upon its repayment in full
and cancellation of all undrawn commitments thereunder, the Designated
Refinancing Facilities Agreement, provided that if upon the repayment in full
and cancellation of all undrawn commitments under the Senior Facilities
Agreement there is no Designated Refinancing Facilities Agreement, until such
time that a Refinancing Facilities Agreement has been designated as a
Designated Refinancing Facilities Agreement, the “Relevant Facilities Agreement”
shall be the Senior Facilities Agreement immediately prior to such termination,
and provided further that upon the repayment in full and cancellation of all
undrawn commitments under the Designated Refinancing Facilities Agreement,
until such time that a Refinancing Facilities Agreement has been designated as
a Designated Refinancing Facilities Agreement, the “Relevant Facilities
Agreement” shall be the Designated Refinancing Facilities Agreement immediately
prior to such termination.

 

Rights of Recourse
means all and any rights, actions or claims the Pledgor may have against any
Obligor or any other person that has granted Security, including, in
particular, the Pledgor’s right of recourse against such persons, or any of
them, under the terms of article 2028 et seq. of the Luxembourg Civil Code
(including, for the avoidance of doubt, any right of recourse prior to
enforcement), or any right of recourse by way of subrogation or any other
similar right, action or claim under any applicable law.

 

Secured Obligations
means the Security Trustee Liabilities, the Senior Liabilities and the Hedging
Liabilities, provided that any liabilities that have been designated as “New Senior
Liabilities” under the Group Intercreditor Deed or are incurred after December 31,
2009 under any Refinancing Facilities Agreement entered into after such date,

 

(a)                                 in breach of the provisions of the Senior Facilities Agreement, or upon
its repayment in full and cancellation of all undrawn commitments thereunder 

 

 

(unless there is no Designated Refinancing
Facilities Agreement), the Designated Refinancing Facilities Agreement, or any
Refinancing Facilities Agreement on the date of such designation (excluding any
applicable cure period), or

 

(b)                                that the Pledgee, acting reasonably, has not agreed to act as security
trustee for,

 

shall not, in any such case constitute “Secured
Obligations” for the purpose of this Agreement.

 

Security Period
means the period beginning on the date of this Agreement and ending on the date
upon which:

 

(a)                                 none of the Beneficiaries is under any obligation (whether actual or
contingent) to make advances or provide other financial accommodation to the
Obligors under any of the Senior Finance Documents; and

 

(b)                                all Secured Obligations have been unconditionally and irrevocably paid
and discharged in full.

 

Security Trust Agreement means the security trust agreement dated March 3, 2006 and amended
and restated on or about the date of this Agreement, between the Pledgee as
Security Trustee and as Facility Agent, Virgin Media Investment Holdings
Limited (formerly known as NTL Investment Holdings Limited) and the companies
named therein as Original Obligors.

 

Senior Secured Notes has
the meaning given to the term “Notes” in the Senior Secured Notes Indenture.

 

Senior Secured Notes Documents means the Senior Secured Notes Indenture including the guarantees set
out therein, and the Senior Secured Notes.

 

Senior Secured Notes Indenture means the indenture dated on or about the date of this Agreement
governing the $1,000,000,000 6.50% Senior Secured Notes due 2018 and the
£875,000,000 7.00% Senior Secured Notes due 2018, among Virgin Media Inc.,
Virgin Media Investment Holdings Limited, Virgin Media Finance PLC, Virgin
Media Secured Finance PLC, the subsidiary guarantors named therein, The Bank of
New York Mellon, as trustee, registrar and paying agent and The Bank of New
York Mellon (Luxembourg), S.A., as Luxembourg paying agent, as amended,
restated, supplemented or otherwise modified from to time.

 

1.3.                             In this Agreement, any reference to (a) a Clause is, unless
otherwise stated, a reference to a Clause hereof and (b) to any agreement
(including this Agreement) is a reference to such agreement as amended, varied,
modified or supplemented (however fundamentally) from time to time.

 

 

1.4.                             Clause headings are inserted for convenience of reference only and shall
be ignored in construing this Agreement.

 

1.5.                              Words importing the singular shall include the plural and vice-versa.

 

1.6.                              Counterparts

 

This Agreement may be executed in any number of
counterparts and by way of facsimile exchange of executed signature pages, all
of which together shall constitute one and the same Agreement.

 

1.7.                              Group Intercreditor Deed

 

This Agreement should be read and construed subject
to the terms of the Group Intercreditor Deed. In the event of any inconsistency
between the terms of this Agreement and the Group Intercreditor Deed, the terms
of the Group Intercreditor Deed shall prevail.

 

1.8.                              Secured Obligations

 

It is acknowledged and agreed that (without
prejudice to the extension of the Secured Obligations to any other Indebtedness
from time to time included within the definition thereof) as at the date hereof,
the Secured Obligations shall include:

 

(a)                                   all Liabilities under the Senior Facilities Agreement; and

 

(b)                                  all Liabilities under the Senior Secured Notes Documents.

 

2.                                       PLEDGE

 

2.1.                             The Pledgor hereby pledges in first rank, and the Pledgee accepts, the
Pledged Assets as continuing first ranking security interest (gage de premier
rang) in favour of the Pledgee for the prompt and complete payment when due and
discharge of all Secured Obligations.

 

2.2.                             At any time prior to the occurrence of an Event of Default which is
continuing, the Pledgor shall be entitled to receive, withdraw or otherwise
transfer any credit balance in the ordinary course of trade from the Pledged
Accounts (subject to the terms of any Senior Finance Documents), both before
and after giving effect to the proposed transfer, until the Luxembourg Account
Bank, with a copy to the Pledgor, has received notice of an Event of Default
which is continuing (as set out in Schedule 3) (the Blocking Notice), duly confirmed by the Luxembourg Account
Bank (as set out in Schedule 4).

 

2.3.                             Any new account(s) to be opened with the Luxembourg Account Bank,
during the Security Period, shall be subject to a similar Pledge Notice (as
defined below) from the Pledgor specifying the account number concerned and a
similar Acknowledgment (as 

 

 

defined below) from the Luxembourg Account Bank to
be also sent to the Pledgee immediately after the date of the opening of such
new account(s).

 

3.                                       EVENT OF DEFAULT

 

3.1.                             Upon the occurrence of an Event of Default which is continuing, the
Pledgee shall be entitled to send a Blocking Notice to the Luxembourg Account
Bank, with a copy to the Pledgor, and the Pledged Accounts shall be blocked and
the Pledgee (or any person designated by the Pledgee) shall automatically become
the Pledgor’s irrevocable proxy, so that the Pledgee, or its attorney, will,
independently and without limitation, by giving the Blocking Notice, become
solely entitled to freely operate the Pledged Accounts, to collect and receive
payment of, and to dispose of the Pledged Assets, and any rights of the Pledgor
over the Pledged Accounts shall be automatically terminated.

 

3.2.                             Upon the occurrence of an Event of Default which is continuing, the
Pledgor shall not be entitled to receive, withdraw or otherwise transfer any
credit balance from time to time in the Pledged Accounts.

 

4.                                       PERFECTION OF PLEDGE

 

4.1.                             In accordance with the Luxembourg law on financial collateral dated August 5,
2005 (the 2005 Law) for the perfection of the Pledge, the Pledgor has sent by
fax and by registered letter a duly executed notice to the Luxembourg Account
Bank, with a copy thereof to the Pledgee (the Pledge
Notice) on May 15, 2009 (as set out in Schedule 1). The Pledgor
has instructed the Luxembourg Account Bank to sign the acknowledgment of
creation of the Pledge which has been delivered to the Pledgee on May 18,
2009 (as set out in Schedule 2) (the Acknowledgment).

 

4.2.                             Without prejudice to the above provisions, the Pledgor hereby irrevocably
authorises and empowers the Pledgee to take or cause to be taken any formal
steps to be taken by the Pledgor for the purpose of perfecting the present
Pledge and, for the avoidance of doubt, the Pledgor hereby irrevocably
undertakes to take any such steps if so requested in writing by the Pledgee.

 

5.                                       RIGHTS OF THE PLEDGEE

 

The Pledgee shall hold the Pledge to be created or
given in its favour pursuant to this Agreement (upon trust for the benefit of
the Beneficiaries) on the terms and subject to the conditions set out in the
Group Intercreditor Deed and the Security Trust Agreement.

 

6.                                       REPRESENTATIONS AND WARRANTIES

 

6.1.                              The Pledgor hereby represents and warrants to the Pledgee that:

 

6.1.1.                     it
is the sole owner of the Pledged Assets;

 

 

6.1.2.                    the Pledge, pursuant to this Agreement, creates a valid first ranking
security interest (gage de premier rang)
on the Pledged Assets in favour of the Pledgee acting for the benefit of the
Beneficiaries in respect of all Secured Obligations and it is not subject to
any other prior ranking or pari passu ranking security except for any mandatory
privileges preferred under applicable law;

 

6.1.3.                    the terms on which the Pledged Accounts are maintained allow the Pledgor
to pledge the Pledged Assets in accordance with the terms of this Agreement;

 

6.1.4.                    it is duly organised and validly existing under the laws of Luxembourg,
it has, and will during the term of this Agreement have, its centre of main
interests in Luxembourg and it has the corporate capacity, power and authority
and legal right to own and operate its property, to hold and own all of its
assets, including the Pledged Assets, and to conduct the business in which it
is currently engaged;

 

6.1.5.                    this Agreement constitutes its legal, valid, binding and enforceable
obligations and operates a valid and enforceable pledge over the Pledged
Assets, in accordance with its terms;

 

6.1.6.                    there are no agreements or arrangements (including any restrictions on
transfer or rights of pre-emption) affecting the Pledged Assets in any way or
which would or might in any way fetter or otherwise prejudice the rights of the
Pledgor under the Pledged Assets or the rights of the Pledgee acting for the
benefit of the Beneficiaries under this Agreement;

 

6.1.7.                    no security (other than the present Pledge) exists on, over or with
respect to the Pledged Assets;

 

6.1.8.                    it shall act in good faith to maintain the rights of the Pledgee
hereunder as valid and enforceable rights, and in particular shall not take any
steps nor do anything which would have a material adverse effect on the
existence of the Pledge created hereunder or the value thereof;

 

6.1.9.                    it has the corporate capacity, power and authority and the legal right to
enter into, execute and deliver, and to perform its obligations expressed to be
assumed by it under this Agreement, and has taken all necessary action,
including corporate action, and has obtained all necessary authorisations to
enable it to enter into and to authorise the execution, delivery and
performance of this Agreement, and this Agreement has been duly executed by it;

 

6.1.10.              the execution and delivery of, and performance by the Pledgor of its
obligations under this Agreement and any other document related thereto will
not:

 

(a)                                  result in a breach of any provision of the constitutive or governing documents
of the Pledgor;

 

 

(b)                                 result in a breach of, or constitute an event of default under, any
contract, undertaking, covenant or instrument to which the Pledgor is a party
or by which the Pledgor is bound;

 

(c)                                  result in a breach of any law, decree, regulation, order, judgment or
decree of any court or governmental agency or an arbitration award to which the
Pledgor is a party or by which the Pledgor is bound; or

 

(d)                                 require the consent of the shareholders of the Pledgor or any other
person or, if any such consent is required, it has been obtained and is in full
force and effect;

 

6.1.11.                it
is not subject to any personal insolvency procedure;

 

6.1.12.              no order has been made and no resolution has been passed for the
winding-up, bankruptcy, admission to the regime of suspension of payment,
controlled management, a composition with creditors of, or by, the Pledgor or
similar laws affecting the rights of creditors generally or for a liquidator,
curateur or commissaire or like official to be appointed in respect of the
Pledgor and no petition has been presented and no meeting has been convened for
any such purpose;

 

6.1.13.              no receiver has been appointed in respect of the Pledgor or all or any of
its assets including the Pledged Assets and none of their respective assets is
the subject of an arrest;

 

6.1.14.              no litigation is pending or to the best of its knowledge, threatened
against it that, if adversely determined, would affect (i) the execution,
delivery or enforceability of this Agreement, or (ii) its ability to
perform any of its obligations hereunder;

 

6.1.15.              no event substantially similar in law to any of the Clauses 6.1.11,
6.1.12, 6.1.13 and 6.1.14 of this Agreement has occurred outside Luxembourg
with respect to the Pledgor; and

 

6.1.16.              no guarantee, loan capital, borrowed money or interest is overdue for
payment by the Pledgor, and no other obligation or indebtedness is outstanding
which is overdue for performance or payment where such fact could have a
material adverse effect on the Pledgor or its business.

 

6.2.                             The representations and warranties set out in Clause 6.1 are deemed to be
repeated by the Pledgor by reference to the facts and circumstances then
existing on the date of this Agreement on which all or any of the
representations and warranties contained in Clause 21 of the Senior Facilities
Agreement, or upon repayment in full and cancellation of all commitments
thereunder such equivalent provision in the Relevant Facilities Agreement, are
deemed to be repeated pursuant to the relevant provisions thereof.

 

 

7.                                       COVENANTS

 

The Pledgor hereby covenants that, for as long as
this Agreement will be in force:

 

7.1.                             it will pay or discharge the Secured Obligations on the due date
therefore in the manner provided in the Senior Finance Documents;

 

7.2.                             it will promptly deposit all amounts received by it into the Pledged
Accounts;

 

7.3.                             it will immediately take any measures, accomplish any formalities and,
generally, or otherwise do all that is necessary at its own cost to permit the
exercise, at any time, by the Pledgee of any rights, actions and privileges of
the Beneficiaries pursuant to applicable law and this Agreement;

 

7.4.                             it will as soon as practicable inform the Pledgee of the occurrence of
any event which may render any of the representations and warranties set out in
Clause 6 of this Agreement above inaccurate;

 

7.5.                             without prejudice to the terms of the Senior Finance Documents other than
this Agreement to which it is a party and subject to the prior written consent
of the Pledgee, the Pledgor shall not create, grant or permit to exist (a) any
security interest over (save for a second ranking security interest in favour
of the Luxembourg Account Bank) or (b) any restriction on the ability to
transfer or enforce or (c) assign or dispose of all or any part of the
Pledged Assets; and

 

7.6.                             it shall cooperate with the Pledgee and sign or cause to be signed all
such further documents and take all such further action as the Pledgee may from
time to time reasonably request to perfect and protect this Pledge and to carry
out the provisions and purposes of this Agreement.

 

8.                                       RELEASE OF PLEDGE

 

Upon (i) the expiry of the Security Period or (ii) the
release or termination of the Pledgor’s obligations under the Senior Finance
Documents in accordance with the terms thereof, the Pledgee shall, at the
written request and at the exclusive cost of the Pledgor, execute and do all
such deeds, acts and things as may be necessary to release the Pledge and (to
the extent necessary) discharge the Pledgor from its liability and the first
ranking security interest (gage de premier rang)
created under this Agreement. However, if after the release of the first
ranking security interest (gage de premier rang)
created hereunder, the payment of any Secured Obligation is annulled by a court
or otherwise, the Pledgor shall grant a new first ranking security interest (gage de premier rang) on identical terms over the Pledged
Assets until such Secured Obligation is paid in full and the Security Period
shall be reinstated and extended until such time.

 

 

9.                                       RIGHTS OF RECOURSE

 

9.1.                             The Pledgor hereby waives and formally undertakes not to exercise the
Rights of Recourse or any other similar rights in any manner (including for the
avoidance of doubt, by way of provisional measures such as provisional
attachment (saisie-arrêt conservatoire)), by way of
set-off or in any other way, nor to take any action or do anything in relation
to such Rights of Recourse or other similar rights, except as otherwise
permitted in writing by the Pledgee.

 

9.2.                             This Clause 9 shall remain in full force during the Security Period and
shall, to the extent required, survive any termination or discharge of this
Agreement.

 

10                                    POWER OF ATTORNEY

 

Upon the occurrence of an Enforcement Event, the
Pledgor irrevocably and unconditionally appoints the Pledgee to be its attorney
and in its name and on its behalf to execute, deliver and perfect all documents
and do all things that the Pledgee may consider to be requisite for (a) carrying
out any obligation imposed on the Pledgor under this Agreement or (b) exercising
any of the rights conferred to the Pledgee under this Agreement or by law, it
being understood that the enforcement of the Pledge over the Pledged Assets
must be carried out as described in Clause 11 of this Agreement. The Pledgor
shall ratify and confirm all things done and all documents executed by the
Pledgee in the exercise of this power of attorney. The Pledgor shall at its own
reasonable expense promptly and duly execute and do all such assurances, acts
and things as the Pledgee may require as being necessary for perfecting or
protecting all or any of the rights, powers, authorities and discretions which
are for the time being exercisable by the Pledgee under this Agreement in
relation to the Pledged Assets, for facilitating the enforcement of any such
rights or any part thereof and in the exercise of all powers, authorities and
discretions vested in the Pledgee. To that effect, the Pledgor shall in
particular execute all documents or instruments and give all notices, orders
and directions and make all registrations which the Pledgee may reasonably
think expedient.

 

11                                    ENFORCEMENT OF PLEDGE

 

11.1.                       Upon the occurrence of an Enforcement Event the Pledgee shall,
immediately and without further notice (mise en demeure),
be entitled to enforce the Pledge and exercise all its rights and powers by
virtue of this Agreement and, in particular, the Pledgee shall be entitled to:

 

11.1.1.              appropriate the Pledged Assets, as determined by an independent external
auditor (réviseur d’entreprises) registered with
the Institut Luxembourgeois des Réviseurs d’Entreprises, designated by the
Pledgee;

 

11.1.2.              sell the Pledged Assets in a private sale on arms’ length commercial
terms (conditions commerciales normales), in a
sale organised by a stock exchange 

 

 

or in a public sale (organised at the discretion of
the Pledgee and which, for the avoidance of doubt, does not need to be made by
or within a stock exchange);

 

11.1.3.              request a judicial decision that the Pledged Assets shall be attributed
to the Pledgee in discharge of the Secured Obligations following a valuation of
the Pledged Assets made by a court-appointed expert;

 

11.1.4.              proceed to a set-off between the Secured Obligations and the Pledged
Assets valuated at their fair market value, as determined by an independent
external auditor (réviseur d’entreprises)
registered with the Institut Luxembourgeois
des Réviseurs d’Entreprises, designated by the Pledgee;

 

11.1.5.              realise or, as the case may be, appropriate the Pledged Assets in the
most favourable manner provided by the 2005 Law; and

 

11.1.6.              request the Luxembourg Account Bank to make payment to the Pledgee of the
Pledged Assets standing to the credit of the Pledged Accounts into such bank
account as designated by the Pledgee.

 

11.2.                       Any monies received by the Pledgee upon enforcement of the Pledge in
accordance with the provisions of this Clause 11 shall be applied, after the
discharge of all liabilities having priority to the Secured Obligations, to pay
all or any part of the then outstanding Secured Obligations in accordance with
the terms of the Group Intercreditor Deed and the Security Trust Agreement,
without prejudice to the rights of the Pledgee to recover any shortfall from
any other obligor (if any) with regard to the Secured Obligations, except that
the Pledgee may credit the same to a suspense account for so long and in such
manner as the Pledgee may from time to time determine. Any surplus monies
received by the Pledgee once the Secured Obligations have been unconditionally
and irrevocably paid and discharged shall be forthwith returned to the Pledgor
or such other person(s) entitled to it.

 

11.3.                       Upon enforcement as described above, the Pledgee shall have the right to
request enforcement of the Pledge in respect of all or part of the Pledged
Assets in its absolute discretion. No action, choice or absence of action in
this respect, or partial enforcement, shall in any manner affect the Pledge
over the part of the Pledged Assets which has not been subject to enforcement.
The Pledge shall continue to remain in full and valid existence until
enforcement, discharge or termination hereof, as the case may be.

 

11.4.                       Any surplus monies received by the Pledgee once the Secured Obligations
have been unconditionally and irrevocably paid and discharged shall be
forthwith returned to the Pledgor.

 

12                                    EFFECTIVENESS OF THE PLEDGE

 

12.1.                       The Pledge shall be a continuing first ranking security interest (gage de premier rang) and shall not be considered as
satisfied or discharged or prejudiced by any intermediate payment or by the
settlement of any part of the Secured Obligations and shall remain in 

 

 

full force and effect until it has been released in
accordance with the terms of this Agreement.

 

12.2.                       Subject to the terms of the Senior Finance Documents, the Pledgor shall
not be entitled to require the release of the Pledge until the Secured
Obligations are entirely, irrevocably, unconditionally and definitively repaid
or discharged and the Pledgee shall, at the request of the Pledgor, give
release of the Pledge after all the Secured Obligations being entirely,
irrevocably, unconditionally and definitively repaid or discharged, subject to
delivery of any documents or certificates which the Pledgee may reasonably
request.

 

12.3.                       This Pledge shall be discharged by, and only by, the express release
thereof granted by the Pledgee pursuant to the terms of Clauses 8 and 12.2 of
this Agreement. All costs and expenses associated with the release and
discharge of the Pledge shall be borne by the Pledgor.

 

12.4.                       The Pledge shall be cumulative, in addition to and independent of every
other security which the Pledgee or any Beneficiary may at any time hold as
security for the Secured Obligations or any rights, powers and remedies provided
by law and shall not operate so as in any way to prejudice or affect or be
prejudiced or affected by any security interest or other right or remedy which
the Pledgee or any Beneficiary may now or at any time in the future have in
respect of the Secured Obligations.

 

12.5.                       This Pledge shall not be prejudiced by any time or indulgence granted to
any person, or any abstention or delay by the Pledgee or any Beneficiary in
perfecting or enforcing any security interest or rights or remedies that the
Pledgee or any Beneficiary may now or at any time in the future have from or
against the Pledgor or any other person.

 

12.6.                       No failure on the part of the Pledgee or any Beneficiary, to exercise, or
delay on its part in exercising, any of its rights under this Agreement shall
operate as a waiver thereof, nor shall any single or partial exercise of any
such right preclude any further or other exercise of that or any other rights.

 

12.7.                       Neither the obligations of the Pledgor contained in this Agreement nor
the rights, powers and remedies conferred upon the Pledgee by the other Senior
Finance Documents to which each of the Pledgor and the Pledgee are parties,
this Agreement or by law, nor the Pledge shall be discharged, impaired or
otherwise affected by:

 

12.7.1                 any amendment to, or any variation, waiver or release of, any obligation
of the Pledgor or any other person under the Senior Finance Documents;

 

12.7.2                 any failure to take, or to fully take, any Security or otherwise agreed
to be taken in respect of the Pledgor’s obligations under the Senior Finance
Documents;

 

12.7.3                 any failure to realise or to fully realise the value of, or any release,
discharge, exchange or substitution of, any security taken in respect of the
Pledgor’s obligations under the Senior Finance Documents; or

 

 

12.7.4      any
other act, event or omission which, but for this Clause 12.7.4 might operate to
discharge, impair or otherwise affect any of the obligations of the Pledgor
contained in this Agreement, or any of the rights, powers and remedies
conferred upon the Pledgee by the other Senior Finance Documents to which each
of the Pledgor and the Pledgee are parties, this Agreement, or by law.

 

12.8.        For
the avoidance of doubt, the Pledgor hereby expressly waives any rights arising
for it (if any) under article 2037 of the Luxembourg Civil Code or any right it
may have of first requiring the Pledgee to proceed against or claim payment
from any other person or enforce any guarantee or security before enforcing
this Pledge.

 

12.9.        The
Pledgor waives any right it may have of first requiring the Pledgee to proceed
against or enforce any other rights or security or payment from any person
before claiming from the Pledgor under this Agreement.

 

13            PARTIAL
ENFORCEMENT

 

The Pledgee shall have the right to request
enforcement of all or part of the Pledged Assets. No action, choice or absence
of action in this respect, or partial enforcement, shall in any manner affect
the first ranking security interest (gage de premier rang)
created hereunder over the Pledged Assets as it then shall be (and in
particular those Pledged Assets which have not been subject to enforcement).
The first ranking security interest (gage de premier rang)
thereover shall continue to remain in full and valid existence until discharge
or termination thereof, as the case may be.

 

14            COSTS AND
EXPENSES

 

All present and future costs, fees, stamp duties and
other amounts incurred by the Beneficiaries or the Pledgee in connection with
the negotiation, execution or enforcement of this Agreement or preservation of any
rights of the Beneficiaries or the Pledgee conferred by this Agreement or by
law will be for the account of the Pledgor.

 

15            NOTICES

 

15.1.        All
notices or other communications under this Agreement shall be sent:

 

To the Pledgor,
in the English language, at:

 

Future Entertainment S.à r.l.

Media Center Betzdorf,

11 rue Pierre Werner

L-6832 Betzdorf

Grand Duchy of Luxembourg

Fax: + 352 27 17 80 11

Attention: Emma Jones / Ron Paans

 

 

with a copy to:

 

To the Pledgee,
in the English language, at:

 

Deutsche Bank AG, London Branch

Winchester House 1 Great Winchester Street

London EC2N 2DB

United Kingdom

Fax: +44 20 7547 6419

Attention: Nicola Dawes / Rajeev Thakeria

 

To the Luxembourg Account Bank, in the English language, at:

 

RBS Global Banking (Luxembourg) S.A.

46, Avenue J.F. Kennedy

L-1855 Luxembourg

Grand Duchy of Luxembourg

Fax: +352 2607 2970

Attention: Commercial Client Department

 

or any substitute address or fax number or
department or officer as one Party may notify to the other Party and the Luxembourg
Account Bank by not less than five Business Days’ notice.

 

15.2.        Any
notice or other communication given shall be deemed to have been received:

 

15.2.1      if
sent by fax, when received in legible form;

 

15.2.2      if
posted, on the second Business Day following the day on which it was despatched
by first class mail postage prepaid, or

 

15.2.3      if
hand delivered, the day on which it is left at the relevant address,

 

provided that a notice given in accordance with the
above but received on a day which is not a Business Day or after normal
business hours in the place of receipt shall be deemed to have been received on
the next Business Day.

 

16            SUCCESSORS

 

16.1.        This
Agreement shall remain in effect despite any amalgamation or merger (however
effected) relating to the Pledgee or any other Beneficiary, and without
prejudice to the provision of any of the other Senior Finance Documents to
which the Pledgor is a party, references to the Pledgee or any other
Beneficiary shall be deemed to include any assignee or successor in title of
the Pledgee or any other Beneficiary and any person who, under any applicable
law, has assumed the rights and obligations of the Pledgee or any other
Beneficiary hereunder or under any of the other Senior Finance Documents to
which the Pledgor is a party or to which under such laws the same have been

 

 

transferred or novated or assigned in any manner. To
the extent a further notification or registration or any other step is required
by law to give effect to the above, the Pledgor hereby gives power of attorney
to the Pledgee to make any notifications or registrations and/or to take any
other steps, and each undertakes to do so itself if so requested by the
Pledgee.

 

16.2.        For
the purpose of article 1278 of the Luxembourg Civil Code, to the extent
required, the Pledgee expressly reserves the preservation of this Pledge and
the first ranking security interest (gage de premier rang)
created under this Agreement in case of any assignment, novation, amendment or
any other transfer of the Secured Obligations or any other rights of the
Beneficiaries, so that the Pledge shall be automatically (without any
formality) transferred to the benefit of any new assignee(s).

 

17            LIABILITY
AND INDEMNITY

 

17.1         Neither
the Pledgee nor any of the Beneficiaries nor any of their respective agents
shall be liable by reason of (i) the loss or wrongful delivery of, or
damage to, the Pledged Assets, howsoever arising, (ii) taking any action
permitted by this Agreement, (iii) any neglect or default in connection
with the Pledged Assets or (iv) the realisation of all or any part of the
Pledged Assets, save to the extent that any loss or damage is caused by the
gross negligence or wilful misconduct of the Pledgee, the Beneficiaries or
their respective agents, any and all joint liability being excluded.

 

17.2         The
Pledgor will indemnify the Pledgee, the Beneficiaries and every attorney which
may be appointed from time to time in respect of all liabilities and expenses
incurred by it, him, her or them in the execution of any rights, powers or
discretions vested in it, him, her or them pursuant hereto (including the fees
and expenses of legal advisers acting reasonably and VAT thereon if applicable)
save for liabilities and expenses arising from the gross negligence or wilful misconduct
of the Pledgee or its attorney or both.

 

18            SEVERABILITY

 

Any provision of this Agreement that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

 

19            WAIVERS,
REMEDIES CUMULATIVE

 

19.1.        Neither
this Agreement nor any terms or conditions hereof may be amended, changed,
waived, discharged, terminated or otherwise modified unless such amendment,
change, waiver, discharge, termination or modification is in writing duly
executed by or on behalf of the Pledgee, and is otherwise in accordance with
the terms of the Senior Finance Documents.

 

 

19.2.        No
waiver of any of the terms hereof shall be effective unless in writing signed
by the Pledgee. No delay in or non-exercise of any right by the Pledgee shall constitute
a waiver. Any waiver may be on such terms as the Pledgee sees fit. The rights,
powers and discretions of the Pledgee herein are additional to and not
exclusive of those provided by law, by any agreement with or other security in
favour of the Pledgee.

 

20            ASSIGNMENT

 

The Pledgor may not assign any of its rights or
obligations under this Agreement without the prior written consent of the
Pledgee. The Pledgee and each Beneficiary may assign or transfer all or any
part of its rights under this Agreement. Such assignment or transfer by the
Pledgee or the Beneficiaries shall be enforceable towards the Pledgor, subject
to the notification referred to in article 1690 of the Luxembourg Civil Code.

 

21            GOVERNING
LAW AND JURISDICTION

 

21.1.        This
Agreement shall be governed by, and be construed in accordance with, Luxembourg
law.

 

21.2.        With
respect to any proceedings arising in connection with this Agreement, the
Pledgor irrevocably submits to the jurisdiction of the Luxembourg courts,
notwithstanding the right of the Pledgee and each Beneficiary to take
proceedings in any other jurisdiction.

 

[signature page to follow]

 

 

IN WITNESS THEREOF
the Parties hereto have executed this Agreement in one or multiple original
counterparts, all of which together evidence the same Agreement, on the day and
year first written above.

 

 

	
  The Pledgor

  	
   

  
	
  Future Entertainment S.à r.l.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Represented by:

  	
   

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  The Pledgee

  	
   

  
	
  Deutsche Bank AG, London Branch

  	
   

  
	
  as Pledgee for the benefit of the Beneficiaries

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Represented by:

  	
   

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Represented by:

  	
   

  
	
  Title:

  	
   

  

 

 

SCHEDULE 1

PLEDGE NOTICE(1)

 

(1)           Pledge Notice dated May 15,
2009 to be inserted

 

 

FUTURE
ENTERTAINMENT SàRL

R.C.S.
Luxembourg B No 145.414

 

	
   

  	
  Registered
  office:

  
	
   

  	
  Media
  Center Betzdorf

  
	
   

  	
  11, Rue
  Pierre Werner

  
	
   

  	
  L-6832
  Betzdorf

  
	
   

  	
  T.: (352)
  621 543 414

  
	
   

  	
  F.: (352)
  44.37.38

  

 

May 15, 2009

 

	
   

  	
  BY FAX AND REGISTERED MAIL

  
	
   

  	
  URGENT

  
	
   

  	
   

  
	
  To:

  	
  ABN AMRO
  Bank (Luxembourg) S.A.

  
	
   

  	
  Avenue
  J.F. Kennedy

  
	
   

  	
  L-1855
  Luxembourg

  
	
   

  	
  Grand
  Duchy of Luxembourg

  
	
   

  	
  Fax:
  +352 2607 2970

  
	
   

  	
  Attention:
  Commercial Client Department

  
	
   

  	
   

  
	
  Copy
  to:

  	
  Deutsche
  Bank AG, London Branch

  
	
   

  	
  Winchester
  House 1 Great Winchester Street

  
	
   

  	
  London
  EC2N 2DB

  
	
   

  	
  United
  Kingdom

  
	
   

  	
  Fax:+44
  20 7547 6419

  
	
   

  	
  Attention:
  Nicola Dawes / Rajeev Thakeria

  

 

Dear Sirs,

 

1.             This is to give you notice
that, pursuant to an accounts pledge agreement dated May 15, 2009 (the Accounts Pledge Agreement), Future
Entertainment S.à r.l,  as pledgor (the Pledgor), has pledged in favour of Deutsche Bank AG, London Branch, as pledgee
for the benefit of the Finance Parties (as defined in the Accounts Pledge
Agreement) (the Pledgee), any and
all monies, securities, claims and any other assets standing now and in the
future, to the credit of the following accounts:

 

· [intentionally
omitted] (EUR)

· [intentionally
omitted] (GBP)

· [intentionally
omitted] (USD)

 

with Swift code
[intentionally omitted] (the Pledged
Accounts), held by the Pledgor with your institution (including any
sub-account, renewal, redesignatlon or replacement thereof held by the Pledgor
or on behalf of the Pledgor with your institution) (the Pledged Assets). For the avoidance of
doubt, by “sub-account” is understood, if relevant, any sub-account of any of
the three Pledged Accounts.

 

2.             We hereby give you notice,
for the purposes of the Luxembourg law of 5 August 2005 on financial
collateral arrangements as well as any other applicable laws, if any, of the
first ranking pledge (gage de premier rang) granted
by ourselves in favour of the Pledgee over the Pledged Assets.

 

3.             In accordance with the
Accounts Pledge Agreement:

 

(a)           at any time prior to the
occurrence of an Event of Default which is continuing, the Pledgor shall be
entitled to receive, withdraw or otherwise transfer any credit balance in the
ordinary course of trade from the Pledged Accounts (subject to the terms of the
Facility Agreement), both before and after giving effect to the proposed
transfer, until your institution with a copy to the Pledgor, 

 

Société à Responsablilité limitée au capital de 20.000 GGP

TVA Nat. 2009 2407 188 - TVA INTRA LU23182569

 

 

have received notice of an
Event of Default which is continuing (the
Blocking Notice), duly confirmed by your institution;

 

 

(b)           upon the occurrence of an
Event of Default which is continuing, the Pledgee shall be entitled to send a
Blocking Notice to your institution, with a copy to the Pledgor, and the
Pledged Accounts shall be blocked and the Pledgee (or any person designated by
the Pledgee) shall automatically become the Pledgor’s irrevocably proxy, so
that the Pledgee, or its attorney, will, independently and without limitation,
by giving the Blocking Notice, become solely entitled to freely operate the
Pledged Accounts, to collect and receive payment of, and to dispose of the
Pledged Assets, and any rights of the Pledgor over the Pledged Accounts shall
be automatically terminated; and

 

(c)           upon the occurrence of an
Event of Default which is continuing, the Pledgor shall not be entitled to
receive, withdraw or otherwise transfer any credit balance from time to time in
the Pledged Accounts.

 

4.             We attach a copy of the
Accounts Pledge Agreement for your reference.

 

5.             This notice shall be
irrevocable, and may not be in any way amended, varied or supplemented or
modified without the written consent of the Pledgee.

 

6.             We kindly ask you to
immediately return the attached acknowledgment form, duly executed, to our
above address, with a copy to the Pledgee.

 

Yours faithfully,

 

Future
Entertainment S.à r.l.

 

 

	
  /s/ EMMA JONES

  	
   

  
	
  By: Emma Jones

  	
   

  
	
  Title: General Manager

  	
   

  

 

 

SCHEDULE 2

ACKNOWLEDGMENT(2)

 

(2)  Acknowledgment dated May 18,
2009 to be inserted

 

 

	
  ABN AMRO

  	
  Luxembourg

  
	
   

  	
   

  
	
   

  	
  46,  Avenue J.F. Kennedy

  
	
   

  	
  L-1855
  Luxembourg-Kirchberg

  
	
   

  	
   

  
	
   

  	
  P.O. Box
  581

  
	
   

  	
  L-2016
  Luxembourg

  
	
   

  	
  T
  +352 26 07 I

  
	
   

  	
  F
  +352 28 07 29 99

  

 

SCHEDULE 3

FORM OF ACKNOWLEDGMENT

 

May 18,
2009

 

	
   

  	
  BY FAX AND REGISTERED MAIL

  
	
   

  	
  URGENT

  
	
   

  	
   

  
	
  To:

  	
  Future
  Entertainment S.à r.l.

  
	
   

  	
  Media
  Center Betzdorf

  
	
   

  	
  11,
  rue Pierre Werner

  
	
   

  	
  L-6832
  Belzdorf

  
	
   

  	
  Grand
  Duchy of Luxembourg

  
	
   

  	
  Fax:+352
  44 37 38

  
	
   

  	
  Attention:
  Emma Jones / Ron Paans

  
	
   

  	
   

  
	
  Copy to:

  	
  Deutsche
  Bank AG, London Branch

  
	
   

  	
  Winchester
  House 1 Great Winchester Street

  
	
   

  	
  London
  EC2N 2DB

  
	
   

  	
  United
  Kingdom

  
	
   

  	
  Fax:
  +44 20 7547 6419

  
	
   

  	
  Attention:
  Nicola Dawes / Rajeev Thakeria

  

 

Dear
Sirs,

 

1)            We
refer to the pledge notice dated May 15, 2009 relating to an accounts
pledge agreement dated May 15, 2009 (the Accounts
Pledge Agreement) pursuant to which Future Entertainment S.à.r.l., as pledgor (the Pledgor), has pledged in favour of Deutsche Bank AG, London Branch, as pledgee
for the benefit of the Finance Parties (as defined in the Accounts Pledge
Agreement) (the Pledgee), any and
all monies, securities, claims and any other assets standing now and in the
future, to the credit of the following accounts, held with ABN AMRO Bank (Luxembourg) S.A., 46, Avenue
J.F. Kennedy, L-1855 Luxembourg (the Luxembourg
Account Bank):

 

· [intentionally omitted]
(EUR)

· [intentionally omitted]
(GBP)

· [intentionally omitted]
(USD)

 

with
Swift code [intentionally omitted] (the Pledged Accounts), held by the Pledgor with
our institution (including any sub-account, renewal, redesignation or
replacement thereof held by the Pledgor or on behalf of the Pledgor with our
institution) (the Pledged Assets).
For the avoidance of doubt, by “sub-account” is understood, if relevant, any
sub-account of any of the three Pledged Accounts.

 

Unless
otherwise specified herein, capitalised terms and other expressions shall have
the meaning ascribed to them in the Accounts Pledge Agreement.

 

 

2)                                     For the purposes of the Luxembourg law of 5 August 2005 on financial
collateral arrangements, we hereby acknowledge that we accept the first-
ranking pledge (gage de premier rang) created
by the Accounts Pledge Agreement.

 

3)                                     The acknowledgment of the Accounts Pledge Agreement by our bank does not
imply any obligation for us to guarantee any commitments of the Pledgor towards
the Pledgee or towards any other party. The Pledgee has no action against our
bank other than by the legally available means of enforcement of the pledge
over the Pledged Assets and, in particular, does not have any recourse other
than to the assets subject to the pledge, in such situation as they may be in
at the time of enforcement.

 

4)                                     We waive particularly for the benefit of the Pledgee, any present and
future security interest, right of set-off or right of retention over the
Pledged Accounts in our favour, except that for the purpose of payment of our
claims against the Pledgor, such as, without limitation, any claims arising from
fees, commissions, interest, indemnities, or otherwise, we are entitled to
deduct from the Pledged Accounts, upon such claims arising, any sums due in our
favour.

 

5)                                     We have not previously received any other notice of pledge, charge,
assignment or other in respect of the Pledged Accounts.

 

6)                                     We shall have only the duties and responsibilities expressly set forth In
writing herein and in our standard account documentation and terms and
conditions as in effect from time to time, all of which shall apply to the
Pledged Accounts to the extent not inconsistent with the terms of the present
acknowledgment and, for the avoidance of doubt, we have thus no obligation of
any kind to provide information, to control, monitor or block the Pledged
Accounts other than in accordance with the terms set forth in this
acknowledgment.

 

7)                                     We hereby take notice of the following provisions of the Accounts Pledge
Agreement and agree to act as follows:

 

a.                                      at any time prior to the occurrence of an Event of Default which is continuing,
the Pledgor shall be entitled to receive, withdraw or otherwise transfer any
credit balance in the ordinary course of trade from the Pledged Accounts
(subject to the terms of the Facility Agreement), both before and after giving
effect to the proposed transfer, until our institution, with a copy to the
Pledgor, have received notice of an Event of Default which is continuing (the Blocking Notice), by authenticated Swift
message (Bank Swift code [intentionally omitted]) addressed to the Commercial Clients
Department and on condition that the swift message specifies the Pledged
Accounts to be blocked, and subject to application of our standard account
operating procedures, especially with respect to irreversible operations. The
receipt of the Blocking notice shall be duly confirmed by our institution;

 

b.                                     upon the occurrence of an Event of Default which is continuing, the
Pledgee shall be entitled to send a Blocking Notice to our institution, with a
copy to the Pledgor, and the Pledged Accounts shall be blocked within one (1) Business
Day upon receipt of the Blocking Notice and the Pledgee (or any person
designated by the Pledgee) shall automatically become the Pledgor’s irrevocably
proxy, so that the Pledgee or its attorney, will, independently and without
limitation, by giving the Blocking Notice, become solely entitled to freely
operate the Pledged Accounts, to collect and receive payment of, and to dispose
of the Pledged Assets, and any rights of the Pledgor over the Pledged Accounts
shall be automatically terminated;

 

 

c.                                      upon the occurrence  of  an
Event of Default which is continuing, the Pledgor shall not be entitled to
receive, withdraw or otherwise transfer any credit balance from time to time in
the Pledged Accounts; and

 

d.                                     all reasonable costs and expenses (including, without limitation, legal
fees) incurred by us in the lawful exercise of the powers and rights hereby
conferred shall be payable by the Pledgor.

 

8)                                     The Pledgor and the Pledgee undertake to seek approval of our institution
in respect of any material changes to the Accounts Pledge Agreement, affecting
the rights and obligations of our institution hereunder, it being understood
that until such approval, not to be unreasonably withheld, our institution will
be entitled to rely on the terms contained herein.

 

9)                                     Notwithstanding clause 7a) hereof, all notices under the Accounts Pledge
Agreement to our institution shall be sent by registered mail, by hand
delivery, by special courier service or by fax to the following address:

 

ABN AMRO
Bank (Luxembourg) S.A.

46,
Avenue J.F. Kennedy

L-1855
Luxembourg

Grand
Duchy of Luxembourg

Fax:
+352 2607 2970

Attention:
Commercial Client Department

 

10)                               In case of enforcement, we shall have no duty to check that the
conditions set out in the Accounts Pledge Agreement or any other document for
the existence or continuance of an Event of Default, maturity of the secured
obligations or the enforceability or enforcement of the Pledge, are fulfilled
or complied with.

 

11)                               To the extent applicable, if the assets held on the Pledged Accounts
comprise fungible securities and other financial instruments, we shall
immediately earmark such securities and other financial instruments as being
pledged in favour of the Pledgee by way of an inscription of the security interest
created under the Accounts Pledge Agreement in our books.

 

12)                               The Pledgor and the Pledgee hereby acknowledge that the Luxembourg
Account Bank shall not be liable for any loss or damage suffered by the Pledgor
or the Pledgee, save if such loss or damage is suffered as a result of willful
misconduct or gross negligence of the Luxembourg Account Bank. Without
prejudice to the terms of the general terms and conditions, the Pledgor will
indemnify the Luxembourg Account Bank and hold the Luxembourg Account Bank
harmless against any damages, losses, actions, claims, expenses, demands and
liabilities which may be incurred by or made against the Luxembourg Account
Bank for anything done or omitted in relation to the matters described herein,
except where such damages, losses, actions, claims, expenses, demands and
liabilities are incurred or made against the Luxembourg Account Bank as a
result of gross negligence or wilful misconduct of the Luxembourg Account Bank

 

13)                               Unless otherwise defined herein, terms defined in the Accounts Pledge
Agreement (including those definitions incorporated by reference to another
document) shall have the same meanings when used in this acknowledgment.

 

14)                               This
acknowledgment is governed by and shall be construed In accordance with
Luxembourg law, and is subject to the exclusive jurisdiction of the courts of
City of Luxembourg, without prejudice to the right of the Luxembourg Account
Bank to bring any actions against the other parties before any other competent
court.

 

 

	
  Yours faithfully.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  ABN
  AMRO Bank (Luxembourg) S.A.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ NICOLETA GLODEAN

  	
   

  
	
  By: Nicoleta Glodean

  	
   

  
	
  Title: Legal Counsel

  	
   

  
	
   

  	
   

  
	
  /s/ JEAN MARC LAHAYE

  	
   

  
	
  By: Jean Marc Lahaye

  	
   

  
	
  Title: Commercial Clients

  	
   

  

 

 

SCHEDULE 3

BLOCKING NOTICE

 

[ON THE LETTERHEAD OF THE PLEDGEE]

 

[DATE]

BY FAX AND REGISTERED MAIL

URGENT

 

To:                                                                              RBS Global Banking (Luxembourg) S.A.

(formerly ABN AMRO Bank (Luxembourg) S.A.)

Avenue J.F. Kennedy

L-1855 Luxembourg

Grand Duchy of Luxembourg

Fax: +352 2607 2970

Attention: Commercial
Client Department

 

Copy to:                                                  Future Entertainment S.à r.l.

Media Center Betzdorf

11, rue Pierre Werner

L-6832 Betzdorf

Grand Duchy of Luxembourg

Fax: + 352 27 17 80 11

Attention: Emma Jones /
Ron Paans

 

Dear Sirs,

We refer to an accounts pledge agreement dated May 15,
2009, as amended and restated from time to time (the Accounts Pledge Agreement) between Future Entertainment S.à r.l., as pledgor (the Pledgor), and Deutsche Bank AG, London Branch, as pledgee for the benefit of
the Beneficiaries (as defined in the Accounts Pledge Agreement), which was
notified to your institution in accordance with a pledge notice executed by the
Pledgor on May 15, 2009 and acknowledged by your institution in accordance
with acknowledgment executed by your institution on May 18, 2009, together
with any other notice of amendment and restatement relating to the Accounts
Pledge Agreement as sent to, and acknowledged by, your institution from time to
time.

 

We hereby kindly request you to block the following
accounts:

 

[intentionally omitted] (EUR)

[intentionally omitted] (GBP)

[intentionally omitted] (USD)

 

with Swift code [intentionally omitted] (the Pledged Accounts) in accordance with
Accounts Pledge Agreement and request that, upon the receipt of this notice,
you:

 

 

·                                          immediately confirm us by return of fax the receipt of this blocking
notice, and

·                                         immediately block the Pledged Accounts and do not execute any
instructions whatsoever given by the Pledgor.

 

 

	
  Yours faithfully,

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Deutsche Bank AG, London Branch

  	
   

  
	
  as Pledgee for the benefit of the Beneficiaries

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Represented by:

  	
   

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Represented by:

  	
   

  
	
  Title:

  	
   

  

 

 

SCHEDULE 4

FORM OF CONFIRMATION

 

[ON THE LETTERHEAD OF THE LUXEMBOURG ACCOUNT BANK]

 

[DATE]

BY FAX AND REGISTERED MAIL

URGENT

 

To:                              Deutsche
Bank AG, London Branch

Winchester House 1 Great Winchester Street

London EC2N 2DB

United Kingdom

Fax: +44 20 7547 6419

Attention: Nicola Dawes / Rajeev Thakeria

 

Dear Sirs,

 

We refer to the pledge notice dated May 15,
2009 regarding an accounts pledge agreement dated May 15, 2009, as amended
and restated from time to time (the Accounts
Pledge Agreement) pursuant to which Future Entertainment S.à r.l., as pledgor (the Pledgor), has
pledged in favour of Deutsche Bank AG, London
Branch, as pledgee for the benefit of the Beneficiaries (as defined
in the Accounts Pledge Agreement), any and all monies, securities, claims and
any other assets standing now and in the future, to the credit of the following
accounts:

 

[intentionally omitted] (EUR)

[intentionally omitted] (GBP)

[intentionally omitted] (USD)

 

with Swift code [intentionally omitted] (the Pledged Accounts), held by the Pledgor with
our bank (including any sub-account, renewal, redesignation or replacement
thereof held by the Pledgor or on behalf of the Pledgor with our bank).

 

We hereby acknowledge the receipt of the blocking
notice dated [date] (the Blocking Notice)
and confirm that the Pledged Accounts referred to in the Blocking Notice will
be effectively and immediately blocked.

 

	
  Yours faithfully,

  	
   

  
	
   

  	
   

  
	
  RBS Global Banking (Luxembourg) S.A.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Represented by:

  	
   

  
	
  Title:

  	
   

  

 

 

ANNEX 2

 

FORM OF NOTICE OF AMENDMENT

[ON
THE LETTERHEAD OF THE PLEDGOR]

 

January       ,
2010

BY FAX AND REGISTERED MAIL

URGENT

 

To:                                                                              RBS Global Banking (Luxembourg) S.A.

(formerly ABN AMRO Bank (Luxembourg) S.A.)

Avenue J.F. Kennedy

L-1855 Luxembourg

Grand Duchy of
Luxembourg

Fax:
+352 2607 2970

Attention:
Commercial Client Department

 

Copy to:                                               Deutsche Bank AG, London Branch

Winchester House 1 Great Winchester Street

London EC2N 2DB

United Kingdom

Fax: +44 20 7547 6419

Attention: Nicola Dawes / Rajeev Thakeria

 

Re: Notice of Amendment

 

Dear Sirs,

 

1.                             Reference is made to the Accounts Pledge Agreement,
dated as of May 15, 2009, as amended and restated on October 29,
2009, between Future Entertainment S.à r.l.,
as pledgor (the Pledgor), and Deutsche Bank AG, London Branch, as Pledgee
(the Pledgee) (the Accounts
Pledge Agreement), which was notified to you (the Account Bank) in accordance with a notice of pledge executed
by the Pledgor on May 15, 2009 (the Notice),
acknowledged in accordance with the acknowledgment executed by your
institution, as the Account Bank, on May 18, 2009 (the Acknowledgment). The Accounts Pledge Agreement (as amended
and restated by the Amendment and Restatement Agreement (as defined below)),
the Notice and the Acknowledgement are together referred to as the Pledge Documentation.

 

 

2.                            The Pledge Documentation relates to the following
accounts:

 

[intentionally omitted] (EUR)

[intentionally omitted] (GBP)

[intentionally omitted] (USD)

 

with Swift code [intentionally omitted] (the Pledged Accounts), held by the Pledgor with
your institution (including any sub-account, renewal, redesignation or
replacement thereof held by the Pledgor or on behalf of the Pledgor with your institution)
(the Pledged Assets). For the
avoidance of doubt, by “sub-account” is understood, if relevant, any
sub-account of any of the three Pledged Accounts.

 

3.                            The Pledgor and the Pledgee have amended the Accounts
Pledge Agreement pursuant to an amendment and restatement agreement dated January       ,
2010 (the Amendment and Restatement Agreement). A
copy of the Amendment and Restatement Agreement, which attaches the Accounts
Pledge Agreement as amended and restated by the Amendment and Restatement Agreement,
is enclosed herein.

 

4.                            We hereby notify immediately the Amendment and
Restatement Agreement to you as the Account Bank in accordance with article 5(3) of
the Luxembourg law of August 5, 2005 on financial collateral arrangements.

 

5.                            The provisions of the Pledge Documentation and the
first ranking security interest (gage de premier rang) created
under the Pledge Documentation shall continue in full force and effect and
shall be preserved for the benefit of the Pledgee. The first ranking security interest
(gage de premier rang) created initially
under the Pledge Documentation will be maintained and preserved for the benefit
of the Pledgee and it will be held and administered by the Pledgee in
accordance with the Pledge Documentation. Neither the obligations of the
Pledgor and your institution, as the Account Bank contained in the Pledge
Documentation nor the rights, powers and remedies conferred upon the Pledgee by
the Pledge Documentation or by law, nor the first ranking interest (gage de premier rang) created thereby shall be discharged,
released, impaired or otherwise affected by this Agreement.

 

6.                            This notice shall be irrevocable, and may not be in
any way amended, varied or supplemented or modified without the written consent
of the Pledgee.

 

 

7.                            We kindly ask you to return the attached
acknowledgment form, duly executed as soon as possible within three (3) business
days after the receipt of this notice to our above address, with a copy to the
Pledgee.

 

 

	
  Yours faithfully,

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  The Pledgor

  	
   

  	
  The Pledgee

  
	
  Future Entertainment S.à r.l.

  	
   

  	
  Deutsche Bank AG, London Branch

  
	
   

  	
   

  	
  as
  Pledgee for the benefit of the Beneficiaries

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Represented
  by:

  	
   

  	
   

  
	
  Title:

  	
   

  	
  Represented
  by:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Represented
  by:

  
	
   

  	
   

  	
  Title:

  

 

 

	
  Accepted and acknowledged

  	
   

  	
   

  
	
  RBS Global Banking
  (Luxembourg) S.A.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  

 

 

Attachment:  the Accounts Pledge Agreement as
amended and restated by the Amendment and Restatement Agreement (as such terms
are defined herein).Exhibit 4.46

 

EXECUTION VERSION

 

 

 

Dated
19 January 2010

 

 

ASSIGNMENT
OF CONTRACTS

 

 

between

 

 

FUTURE ENTERTAINMENT S.À R.L.

as
Company

 

 

and

 

 

DEUTSCHE BANK AG, LONDON BRANCH

as
Security Trustee

 

 

White
& Case LLP

5
Old Broad Street

London  EC2N 1DW

 

 

TABLE
OF CONTENTS

 

	
  1.

  	
  INTERPRETATION

  	
  2

  
	
  2.

  	
  COVENANT
  TO PAY

  	
  7

  
	
  3.

  	
  ASSIGNMENTS,
  FIXED CHARGE AND FLOATING CHARGE

  	
  8

  
	
  4.

  	
  CONTINUING
  SECURITY

  	
  9

  
	
  5.

  	
  REPRESENTATIONS
  AND WARRANTIES

  	
  11

  
	
  6.

  	
  GENERAL
  UNDERTAKINGS

  	
  13

  
	
  7.

  	
  FURTHER
  ASSURANCE

  	
  13

  
	
  8.

  	
  ENFORCEMENT
  OF SECURITY

  	
  14

  
	
  9.

  	
  ADMINISTRATORS
  AND RECEIVERS

  	
  15

  
	
  10.

  	
  APPLICATION
  OF PROCEEDS

  	
  17

  
	
  11.

  	
  POWER
  OF ATTORNEY

  	
  17

  
	
  12.

  	
  PROTECTION
  OF SECURITY TRUSTEE AND RECEIVERS

  	
  18

  
	
  13.

  	
  PROTECTION
  OF THIRD PARTIES

  	
  18

  
	
  14.

  	
  DELEGATION
  BY SECURITY TRUSTEE

  	
  19

  
	
  15.

  	
  REDEMPTION
  OF PRIOR MORTGAGES

  	
  19

  
	
  16.

  	
  RELEASE
  OF THE SECURITY

  	
  19

  
	
  17.

  	
  PAYMENTS

  	
  19

  
	
  18.

  	
  COSTS
  AND EXPENSES

  	
  20

  
	
  19.

  	
  ASSIGNMENTS
  AND TRANSFERS

  	
  21

  
	
  20.

  	
  REMEDIES
  AND WAIVERS

  	
  21

  
	
  21.

  	
  SET-OFF

  	
  21

  
	
  22.

  	
  ADDITIONAL
  PROVISIONS

  	
  22

  
	
  23.

  	
  NOTICES

  	
  23

  
	
  24.

  	
  GOVERNING
  LAW

  	
  23

  
	
  25.

  	
  JURISDICTION

  	
  24

  
	
  26.

  	
  COUNTERPARTS
  AND EFFECTIVENESS

  	
  24

  
	
  SCHEDULE
  1

  	
  CONTENT
  PROVIDER CONTRACTS

  	
  25

  
				

 

i

 

THIS ASSIGNMENT is made on 19 January 2010
between the following parties:

 

(1)                                 FUTURE
ENTERTAINMENT S.À R.L., a Luxembourg private limited liability company (société à responsabilité limitée), with
its registered office at Media Center Betzdorf, 11 rue Pierre Werner, L-6832
Betzdorf, Grand Duchy of Luxembourg, registered with the RCS under number
B 145.414 and having a statutory capital of GBP 400,000 (the  “Company”); and

 

(2)                                 DEUTSCHE
BANK AG, LONDON BRANCH as trustee for the Secured Creditors (the “Security Trustee”, which expression includes any person
which is for the time being a trustee (or a co-trustee) for the Secured Creditors).

 

RECITALS

 

(A)                              The Senior Lenders have
agreed to make available to the Borrowers (as defined in the Senior Facilities
Agreement (as defined below)) certain credit facilities pursuant to the terms
and subject to the conditions of the Senior Facilities Agreement.

 

(B)                                Virgin Media Secured
Finance PLC has agreed to issue and sell the Senior Secured Notes under the
Senior Secured Notes Indenture.

 

(C)                                By an intercreditor deed
dated 3 March 2006, as amended and restated on 13 June 2006, 10 July 2006,
31 July 2006, 15 May 2008, 30 October 2009 and 8 January 2010
(the “Group Intercreditor Deed”) the Security
Trustee, the Facility Agent, the Original Senior Borrowers, the Original Senior
Guarantors, the Senior Lenders, the Hedge Counterparties, the Intergroup
Debtors and the Intergroup Creditors (as each of those terms are defined
therein) and certain other members of the Group have agreed to regulate their
relationship as creditors on the terms set out therein.

 

(D)                               The Board of Managers of
the Company is satisfied that the Company is entering into this Assignment for
the purposes of its business and that its doing so benefits the Company.

 

(E)                                 The Security Trustee and
the Company intend this Assignment to take effect as a deed (even though the
Security Trustee only executes it under hand).

 

(F)                                 The Security Trustee holds
the Security and the benefit of this Assignment on trust for itself and the
other Secured Creditors on the terms and subject to the conditions of the
Security Trust Agreement and the Group Intercreditor Deed.

 

1.                                      INTERPRETATION

 

1.1                                 Definitions

 

In this Assignment
the following terms have the meanings given to them in this Clause.

 

“Account” means any account now or in the future opened or
maintained by the Company with a bank or other financial institution (and any
replacement account or subdivision or subaccount of that account), all amounts
from time to time standing to the credit of, or accrued or accruing on, such
account and all Related Rights.

 

 

“Beneficiaries” means the First Beneficiary
and the Second Beneficiaries.

 

“Content Provider Contracts” means the
contracts detailed in Schedule 1 (Content
Provider Contracts) and any other contract of a similar nature from
time to time designated in writing as a Content Provider Contract by the
Security Trustee.

 

“Contracts” means the Subscriber Contracts
and the Content Provider Contracts.

 

“Default Rate” means the rate specified in clause 28.2 of the
Senior Facilities Agreement or, upon its repayment in full and cancellation of
all undrawn commitments thereunder such equivalent provision in the Relevant
Facilities Agreement.

 

“Enforcement Event” means the date on which,
following the occurrence of an Event of Default that is continuing, either the
Relevant Agent or the Security Trustee notifies the Company of the occurrence
of that Event of Default, or takes, under any one or more of the Senior Finance
Documents, any of the steps it is entitled to take by reason of the occurrence
of such Event of Default.

 

“Event of Default” means each of:

 

(a)                  a Senior Default; and

 

(b)                 an event of default or
termination event (however described) under any Hedging Agreement;

 

“Liability” means any obligation or liability for the payment
of money, whether in respect of principal, interest or otherwise, whether
actual or contingent, whether owed jointly or severally and whether as
principal or surety or in any other capacity.

 

“Receiver” means a receiver and manager or any other receiver
(whether appointed pursuant to this Assignment or any statute, by a court or
otherwise) of all or any of the Secured Assets and shall, where permitted by
law, include an administrative receiver.

 

“Related Rights”  means, in
relation to any asset:

 

(a)                  the proceeds of sale of all
or any part of that asset;

 

(b)                 all rights under any
licence, agreement for sale or agreement for lease in respect of that asset;

 

(c)                  all rights, powers,
benefits, claims, contracts, warranties, remedies, security, guarantees,
indemnities or covenants for title in respect of that asset; and

 

(d)                 any moneys, proceeds or
income paid or payable in respect of that asset.

 

“Relevant Facilities Agreement” means the Senior Facilities
Agreement, or, upon its repayment in full and cancellation of all undrawn
commitments thereunder, the Designated Refinancing Facilities Agreement,
provided that if upon the repayment in full and cancellation of all undrawn
commitments under the Senior Facilities Agreement there is no Designated
Refinancing Facilities Agreement, until such time that a Refinancing Facilities
Agreement has been designated as a Designated 

 

3

 

Refinancing
Facilities Agreement, the “Relevant Facilities Agreement” shall be the Senior
Facilities Agreement immediately prior to such termination, and provided further
that upon the repayment in full and cancellation of all undrawn commitments
under the Designated Refinancing Facilities, until such time that a Refinancing
Facilities Agreement has been designated as a Designated Refinancing Facilities
Agreement, the “Relevant Facilities Agreement” shall be the Designated
Refinancing Facilities Agreement immediately prior to such termination.

 

“Secured Assets” means all of the Company’s assets, rights,
title, interests and benefits in, to and in respect of the Contracts.

 

“Secured Creditors” means the Beneficiaries and any Receiver
appointed under this Assignment.

 

“Secured Obligations” means the Security
Trustee Liabilities, the Senior Liabilities and the Hedging Liabilities,
provided that any liabilities that have been designated as “New Senior
Liabilities” under the Group Intercreditor Deed or are incurred after 31 December 2009
under any Refinancing Facilities Agreement entered into after such date,

 

(a)                  in breach of the provisions
of the Senior Facilities Agreement, or upon its repayment in full and
cancellation of all undrawn commitments thereunder (unless there is no
Designated Refinancing Facilities Agreement), the Designated Refinancing
Facilities Agreement, or any Refinancing Facilities Agreement on the date of such
designation (excluding any applicable cure period), or

 

(b)                 that the Security Trustee,
acting reasonably, has not agreed to act as security trustee for,

 

shall not, in any
such case constitute “Secured Obligations” for the purpose of this Agreement;

 

“Security” means the security created or intended to be
created by this Assignment.

 

“Security Period” means the period beginning on the date of
this Assignment and ending on the date upon which:

 

(a)                  none of the Secured
Creditors is under any obligation (whether actual or contingent) to make
advances or provide other financial accommodation to the Obligors under any of
the Senior Finance Documents; and

 

(b)                 all Secured Obligations
have been unconditionally and irrevocably paid and discharged in full.

 

“Security Trust Agreement” means the security trust agreement
dated 3 March 2006 and amended and restated on or about the date of this
Deed between, Deutsche Bank AG, London Branch as Security Trustee and as
Facility Agent, Virgin Media Investment Holdings Limited (formerly known as NTL
Investment Holdings Limited) and the companies named therein as Original
Obligors;

 

4

 

“Senior Facilities Agreement” means the senior facilities
agreement dated 3 March 2006 (as amended and restated on 22 May 2006,
10 July 2006, 10 August 2006, 4 April 2007, 15 May 2008, 10
November 2008, 30 October 2009 and 8 January 2010 and as
amended, restated, supplemented or novated from time to time between Virgin
Media Inc., Virgin Media Finance plc, Virgin Media Investment Holdings Limited
(formerly known as NTL Investment Holdings Limited), Telewest Communications
Networks Limited, VMIH Sub Limited (formerly known as NTLIH Sub Limited) as UK
Borrowers, Virgin Media Dover LLC (formerly known as NTL Dover LLC) as US
Borrower, Deutsche Bank AG, London Branch, J.P. Morgan plc, The Royal Bank of
Scotland plc and Goldman Sachs International as Bookrunners and as Mandated
Lead Arrangers, Deutsche Bank AG, London Branch as Facility Agent and as Security
Trustee, Deutsche Bank AG, New York Branch as US Paying Agent, GE Corporate
Banking Europe SAS as Administrative Agent, Deutsche Bank AG, London Branch as
Original L/C Bank and the persons named therein as Lenders;

 

“Senior Secured Notes” has the meaning given to the term “Notes”
in the Senior Secured Notes Indenture;

 

“Senior Secured Notes Documents” means the Senior Secured
Notes Indenture including the guarantees set out therein, and the Senior
Secured Notes;

 

“Senior Secured Notes Indenture” means the indenture dated on
or about the date of this Deed governing the $1,000,000,000 6.50% Senior
Secured Notes due 2018 and the £875,000,000 7.00% Senior Secured Notes due
2018, among Virgin Media Inc., Virgin Media Investment Holdings Limited, Virgin
Media Finance PLC, Virgin Media Secured Finance PLC, the subsidiary guarantors
named therein, The Bank of New York Mellon, as trustee, registrar and paying
agent and The Bank of New York Mellon (Luxembourg), S.A., as Luxembourg paying
agent, as amended, restated, supplemented or otherwise modified from to time;
and

 

“Subscriber Contracts” means all documents
(including, without limitation, any relevant customer application forms), both
present and future, evidencing a contract between the Company, Virgin Media
Limited, Virgin Media Payments Limited and a Subscriber for the supply of, inter alia, services by the Company
through the operation of telecommunications and/or television systems operated
by the Company in accordance with applicable Telecommunications, Cable and
Broadcasting Laws (including any part of such system and all modifications,
substitutions, replacements, renewals and extensions made to such systems).

 

1.2                                 Successors
and Assigns

 

The expressions “Beneficiaries”,
“Company”, “Senior Lenders”, “Relevant Agent” and “Security Trustee” include,
where the context admits, their respective successors, permitted assigns and
transferees and, in the case of the Beneficiaries, their Transferees and, in
the case of the Security Trustee, such other person as may from time to time be
appointed as Security Trustee for the Secured Creditors pursuant to the
provisions of the Security Trust Agreement.

 

5

 

1.3                                 Defined
Terms

 

Unless this
Assignment provides otherwise or the context otherwise requires, words and
expressions defined (or expressed to be subject to a particular construction)
in the Group Intercreditor Deed or (unless otherwise defined in the Group
Intercreditor Deed) in the Relevant Facilities Agreement shall have the same
meaning (or be subject to the same construction) when used in this Assignment.

 

1.4                                 References
to Agreements

 

Unless otherwise
stated, any reference in this Assignment to any agreement or document
(including any reference to this Assignment or any other Senior Finance
Document or to any agreement or document entered into pursuant to or in
accordance with such agreement or document) shall be construed as a reference
to:

 

(a)                  such agreement or document
as amended, restated, varied, novated or supplemented from time to time; and

 

(b)                 any agreement or document
whereby such agreement or document is so amended, varied, supplemented or
novated or which is entered into pursuant to or in accordance with any such
agreement or document.

 

1.5                                 Statutes

 

Any reference in
this Assignment to a statute or statutory provision shall, unless the contrary
is indicated, be construed as a reference to such statute or statutory
provision as the same shall have been or may be amended or re-enacted.

 

1.6                                 Implied
Covenants

 

The following
provisions of the Law of Property (Miscellaneous Provisions) Act 1994 will not
apply to Clause 3 (Assignments, Fixed Charge and Floating Charge):

 

(a)                  the words “other than any
charges, encumbrances or rights which that person does not and could not
reasonably be expected to know about” in Section 3(1);

 

(b)                 the words “except to the
extent that” and all the words thereafter in Section 3(2); and

 

(c)                  Section 6(2).

 

1.7                                 Third
Party Rights

 

(a)                  A person which is not a
party to this Assignment (a “third party”)
shall have no rights to enforce any of its provisions except that:

 

(i)                                     a third party shall have
those rights it would have had if the Contracts (Rights of Third Parties) Act
1999 had not come into effect; and

 

(ii)                                  each of Clauses 18.4 (Indemnity), 18.5 (Value Added Tax), 21 (Set-Off), 22.3 (Currency Conversion) and 22.4 (Currency Indemnity) shall 

 

6

 

be enforceable by any third party referred to in such clause as if such
third party were a party to this Assignment.

 

(b)                 The parties to this
Assignment may vary or rescind this Assignment without the consent of any third
party.

 

1.8                                 Clause and
Schedule Headings

 

(a)                  Unless otherwise stated,
any reference in this Assignment to a Clause or a Schedule shall be
construed as a reference to a clause of or a schedule to this Assignment.

 

(b)                 Clause and Schedule
headings are for ease of reference only and shall not affect the construction
of this Assignment.

 

1.9                                 Group
Intercreditor Deed

 

This Assignment
should be read and construed subject to the terms of the Group Intercreditor
Deed.  In the event of any inconsistency
between the terms of this Assignment and the Group Intercreditor Deed, the
terms of the Group Intercreditor Deed shall prevail.

 

1.10                           Secured
Obligations

 

It is acknowledged
and agreed that (without prejudice to the extension of the Secured Obligations
to any other Indebtedness from time to time included within the definition
thereof) as at the date hereof, the Secured Obligations shall include:

 

(a)                  all Liabilities under the
Senior Facilities Agreement; and

 

(b)                 all Liabilities under the
Senior Secured Notes Documents.

 

2.                                      COVENANT
TO PAY

 

2.1                                 Covenant
to Pay

 

The Company agrees
that promptly on demand of the Security Trustee it will pay to the Security
Trustee any Secured Obligation which is due but unpaid.

 

2.2                                 Interest

 

Any Secured
Obligation which is owed by the Company under this Assignment and is not paid
when due shall bear interest at the Default Rate from the due date until the date
on which such Secured Obligation is unconditionally and irrevocably paid in
full and such interest shall accrue from day to day (after as well as before
judgment) and be payable by the Company on demand of the Security Trustee.

 

7

 

3.                                      ASSIGNMENTS, FIXED CHARGE AND
FLOATING CHARGE

 

3.1                                 Assignments

 

The Company assigns, with full title guarantee
and as continuing security for the payment and discharge of the Secured
Obligations, the Secured Assets to the Security Trustee to hold the same on
trust for the Secured Creditors on the terms and subject to the conditions of
the Security Trust Agreement and the Group Intercreditor Deed.

 

3.2                                 Fixed Charge

 

(a)                  To
the extent not effectively assigned pursuant to Clause 3.1 (Assignments), the Company charges by way of first fixed
charge, with full title guarantee and as continuing security for the payment
and discharge of the Secured Obligations, the Secured Assets in favour of the
Security Trustee to hold the same on trust for the Secured Creditors on the
terms and subject to the conditions of the Security Trust Agreement and the
Group Intercreditor Deed.

 

3.3                                 Floating Charge

 

(a)                  To
the extent not effectively assigned pursuant to Clause 3.1 (Assignments) or effectively charged pursuant to Clause 3.2 (Fixed Charge), the Company charges by way
of a first floating charge, with full title guarantee and as continuing
security for the payment and discharge of the Secured Obligations, the Secured
Assets in favour of the Security Trustee to hold the same on trust for the
Secured Creditors on the terms and subject to the conditions of the Security
Trust Agreement and the Group Intercreditor Deed.

 

(b)                 Paragraph
14 of Schedule B1 to the Insolvency Act 1986 applies to the floating charge
created pursuant to this Clause 3.3.

 

3.4                                 Conversion of Floating Charge

 

(a)                  The
Security Trustee may, by notice to the Company, convert the floating charge
created under this Assignment with immediate effect into a fixed charge if:

 

(i)                                     the Security becomes enforceable in accordance with
Clause 8 (Enforcement of Security);

 

(ii)                                  the Security Trustee in good faith considers any of
the Secured Assets to be in danger of being seized or sold under or pursuant to
any form of distress, attachment, execution or other legal process or otherwise
to be in jeopardy; or

 

(iii)                               the Security Trustee considers such conversion to be
necessary or desirable to protect the priority of the Security,

 

and such fixed charge shall apply to all assets
which are the subject of the floating charge unless and to the extent that such
notice otherwise specifies.

 

8

 

(b)                 The
floating charge created under this Assignment shall (in addition to the
circumstances in which the same will occur under general law) automatically be
converted into a fixed charge (without notice) as regards all the assets
subject to the floating charge at such time:

 

(i)                                     upon the convening of a meeting of the members of the
Company to consider a resolution to wind up the Company;

 

(ii)                                  upon the presentation of a petition to wind up the
Company or the presentation or making of an application for a warrant of
execution, a writ of fieri facias or
a third party debt order or charging order in respect of any of the Secured
Assets which are the subject of the floating charge under this Assignment;

 

(iii)                               upon the issue and notice of distraint by the Inland
Revenue or HM Customs and Excise or other competent authority, or upon any
steps being taken to distrain for rent against any property of the Company; or

 

(iv)                              if the Company fails to comply with its covenant in
Clause 6.3 (Negative Pledge and Disposals) of
this Assignment,

 

provided that nothing in this Assignment shall
cause the floating charge to crystallise by reason of the Company obtaining or
of anything being done with a view to the Company obtaining a moratorium under Section 1A
of and Schedule A1 to the Insolvency Act 1986.

 

(c)                  The
giving of notice by the Security Trustee pursuant to paragraph (a) above
in relation to any of the Secured Assets shall not be construed as a waiver or
abandonment of the right of the Security Trustee to serve similar notices in
respect of any other of the Secured Assets or of any other of the rights of the
Secured Creditors (or any of them) under any Senior Finance Document.

 

4.                                      CONTINUING SECURITY

 

4.1                                 Continuing and Independent
Security

 

The Security shall constitute and be continuing
security which shall not be released or discharged by any intermediate payment
or settlement of all or any of the Secured Obligations, shall continue in full
force and effect until the end of the Security Period and is in addition to and
independent of, and shall not prejudice or merge with, any other security (or
any right of set-off) which the Security Trustee or any other Secured Creditor
may hold at any time for the Secured Obligations or any of them.

 

4.2                                 New Accounts

 

If the Security Trustee receives notice of any
Encumbrance created or arising after the date of this Assignment in respect of
the Secured Assets or any of them or makes demand of the Company for payment of
any or all of the Secured Obligations:

 

(a)                  the
Security Trustee may open a new account or accounts in respect of any or all of
the Secured Obligations (and if it does not do so it shall be treated as 

 

9

 

if it had done so at
the time it received such notice or
made such demand); and

 

(b)                 thereafter
any amounts paid to the Security Trustee in respect of the Secured Obligations,
or realised or recovered by the Security Trustee under this Assignment, shall
be credited to a new account (or be treated as having been so credited) and not
applied (or be treated as having been applied) in or towards payment of all or
any of the Secured Obligations.

 

4.3                                 Avoidance of Payments

 

Where any release, discharge or other
arrangement in respect of any Secured Obligation or any security the Security
Trustee may hold for such Secured Obligation is given or made in reliance on
any payment or other disposition which is avoided or must be repaid in an
insolvency, liquidation or otherwise, and whether or not the Security Trustee
has conceded or compromised any claim that any such payment or other
disposition will or should be avoided or repaid, this Assignment and the
Security shall continue as if such release, discharge or other arrangement had
not been given or made.

 

4.4                                 Immediate Recourse

 

Neither the Security Trustee nor any other
Secured Creditor shall be obliged before exercising any of the rights conferred
on it by this Assignment or by law to seek to recover amounts due from the
Company or to exercise or enforce any other rights or security it may have or
hold in respect of the Secured Obligations or any of them.

 

4.5                                 Waiver of Defences

 

Neither the obligations of the Company under
this Assignment, nor the Security and the rights, powers and remedies conferred
on the Security Trustee by this Assignment or by law shall be discharged,
impaired or otherwise affected by:

 

(a)                  the
winding-up, dissolution, administration or reorganisation of an Obligor or any
other person or any change in the status, function, control or ownership of a
Borrower or any such person;

 

(b)                 any
of the Secured Obligations or any other security held by the Security Trustee
or any other Secured Creditor in respect thereof being or becoming illegal,
invalid, unenforceable or ineffective in any respect;

 

(c)                  any
time or other indulgence being granted or agreed to or with an Obligor or any
other person in respect of the Secured Obligations or any of them or in respect
of any other security held by the Security Trustee or any other Secured
Creditor in respect thereof;

 

(d)                 any
amendment to, or any variation, waiver or release of, the Secured Obligations
or any of them or any other security, guarantee or indemnity held by the
Security Trustee or any other Secured Creditor in respect thereof;

 

10

 

(e)                  any
total or partial failure to take or perfect any security proposed to be taken
in respect of the Secured Obligations or any of them;

 

(f)                    any
total or partial failure to realise the value of, or any release, discharge,
exchange or substitution of, any other security, guarantee or indemnity held by
the Security Trustee or any other Secured Creditor in respect of the Secured Obligations
or any of them; or

 

(g)                 any
other act, event or omission which might operate to discharge, impair or
otherwise affect the obligations of the Company under this Assignment, the
Security or any of the rights, powers and remedies conferred on the Security
Trustee by this Assignment or by law.

 

4.6                                 No Competition

 

Any right which the Company may have by way of
subrogation, contribution or indemnity in relation to the Secured Obligations,
or otherwise to claim or prove as a creditor of an Obligor or any other person
or its estate in competition with the Security Trustee or any other Secured
Creditor, shall be exercised by the Company only if and to the extent that the
Security Trustee so requires and in such manner and upon such terms as the
Security Trustee may specify and the Company shall hold any moneys, rights or
security held or received by it as a result of the exercise of any such rights
on trust for the Security Trustee for application in accordance with the terms
of this Assignment as if such moneys, rights or security were held or received
by the Security Trustee under this Assignment.

 

4.7                                 Appropriation

 

Neither the Security Trustee nor any other
Secured Creditor shall be obliged to apply any sums held or received by it in
respect of the Secured Obligations in or towards payment of the Secured
Obligations and any such sum shall be held by or paid to the Security Trustee
for application pursuant to the terms of this Assignment provided that any such
sum may be credited to a suspense or impersonal account and held in such
account pending the application from time to time of such sums in or towards
discharge of the Secured Obligations.

 

5.                                      REPRESENTATIONS AND WARRANTIES

 

The Company makes the representations and
warranties set out in Clauses 5.1 (Status and Due
Authorisation) to 5.6 (No Conflicts)
to each Secured Creditor and acknowledges that each of the Secured Creditors
has entered into the Senior Finance Documents to which it is party in reliance
on such representations and warranties.

 

5.1                                 Status and Due Authorisation

 

It is a private limited liability company
incorporated under the laws of Luxembourg with power to enter into this
Assignment and to exercise its rights and perform its obligations under this
Assignment and all corporate and other action required to authorise its
execution of this Assignment and its performance of its obligations under this
Assignment has been duly taken.

 

11

 

5.2                                 Binding Obligations

 

The obligations expressed to be assumed by it
in this Assignment are legal and valid obligations binding on it in accordance
with the terms of this Assignment.

 

5.3                                 All Actions Taken

 

All acts, conditions and things required to be
done, fulfilled and performed in order to:

 

(a)                  enable
it lawfully to enter into, exercise its rights under and perform and comply
with the obligations expressed to be assumed by it in this Assignment;

 

(b)                 ensure
that the obligations expressed to be assumed by it in this Assignment are
legal, valid and binding; and

 

(c)                  make
this Assignment admissible in evidence in England,

 

have been done, fulfilled and performed.

 

5.4                                 No Adverse Interests

 

Subject only to the Security, no person other
than the Company has any legal or beneficial interest (or any right to claim
any such interest) in the Secured Assets or any part thereof and the Company
has not received notice of any such claim.

 

5.5                                 No Disposals

 

Save as contemplated in this Assignment or any
of the other Senior Finance Documents, it has not transferred, mortgaged,
charged or otherwise disposed of (or agreed to transfer, charge or otherwise
dispose of), whether by way of security or otherwise, the benefit of all or any
of the Secured Assets.

 

5.6                                 No Conflicts

 

Its execution of this Assignment and its
exercise of its rights and performance of its obligations under this Assignment
do not and will not (a) conflict with the provisions of (i) any
agreement, mortgage, bond or other instrument or treaty to which it is a party
or which is binding upon it or any of its assets, (ii) its Articles, or
(iii) any applicable law, regulation or official or judicial order, or (b) cause
any of the foregoing representations to be untrue.

 

5.7                                 Repetition

 

The representations and warranties set out in
Clauses 5.1 (Status and Due Authorisation)
to 5.6 (No Conflicts) are made on
the date of this Assignment and are deemed to be repeated on each Utilisation
Date and the date on which all or any of the representations and warranties
contained in clause 21 of the Senior Facilities Agreement, or upon its
repayment in full and cancellation of all undrawn commitments thereunder, such
equivalent provision in the Relevant Facilities Agreement, are deemed to be
repeated pursuant to the relevant provisions thereof.

 

12

 

6.                                      GENERAL UNDERTAKINGS

 

6.1                                 Authorisations

 

The Company shall obtain, comply with the terms
of and do all that is necessary to maintain in full force and effect all
authorisations, approvals, licences and consents required in or by the laws of
England and the laws of Luxembourg to enable it lawfully to enter into and
perform its obligations under this Assignment and to ensure the legality,
validity, enforceability or admissibility in evidence in England of this
Assignment.

 

6.2                                 Performance of Obligations

 

The Company will duly and promptly perform its
obligations and, unless the Security Trustee shall otherwise require,
diligently pursue its rights and remedies under or in relation to the Secured
Assets.

 

6.3                                 Negative Pledge and Disposals

 

The Company will not during the Security
Period:

 

(a)                  create
or permit to subsist any Encumbrance over all or any part of the Secured Assets
other than:

 

(i)                                     Encumbrances constituted by or created pursuant to any
of the Senior Finance Documents; and/or

 

(ii)                                  other Encumbrances expressly permitted under the terms
of the Senior Finance Documents; and/or

 

(b)                 dispose
of all or any part of the Secured Assets except to the extent and in the manner
expressly permitted under the Senior Finance Documents.

 

6.4                                 No Action

 

The Company shall not take any action which
would cause any of the representations made in Clause 5 (Representations and Warranties)  to
be untrue at any time during the Security Period.

 

6.5                                 Notification of Misrepresentation

 

The Company shall notify the Security Trustee
of the occurrence of any event which results in or may reasonably be expected
to result in any of the representations made in Clause 5 (Representations and Warranties)  being
untrue when made or when deemed to be repeated.

 

7.                                      FURTHER ASSURANCE

 

The Company shall from time to time and at its
own expense give all such assurances and do all such things as the Security
Trustee may reasonably require or consider desirable to enable the Security
Trustee to perfect, preserve or protect the Security or to exercise any of the
rights conferred on it by this Assignment or by law and to that 

 

13

 

intent the Company shall execute all such
instruments, deeds and agreements and give all such notices and directions as
the Security Trustee may consider expedient. 
The obligations of the Company under this Clause 7 are in addition
to the covenants for further assurance deemed to be included by virtue of the Law
of Property (Miscellaneous Provisions) Act 1994.

 

8.                                      ENFORCEMENT OF SECURITY

 

8.1                                 Security Enforceable

 

If (and only if) an
Enforcement Event has occurred then the Security created pursuant to this
Assignment shall become enforceable.

 

8.2                                 Enforcement

 

At any time after an Enforcement Event has occurred,
the Security Trustee may in its absolute discretion enforce all or any part of
the Security and exercise any of the rights conferred on it by this Assignment
or by law at such times and in such manner as it thinks fit.

 

8.3                                 Rights of the Company on
Enforcement

 

At any time after an Enforcement Event has
occurred, the Company may not, without the prior written consent of the
Security Trustee, compromise, compound, vary, discharge, postpone or release
any of its rights to receive moneys or otherwise waive any rights of action in
relation to the Secured Assets or do or omit to do anything which may delay or
prejudice the full recovery thereof other than, save to the extent the Security
Trustee otherwise instructs the Company in writing, granting extensions to
normal trade credit in accordance with its reasonable and, in the circumstances
then prevailing, prudent management of its debtors on a normal commercial
basis.

 

8.4                                 Power of Sale

 

At any time after an Enforcement Event has
occurred, the Security Trustee may (without notice to the Company) sell or
otherwise dispose of the Secured Assets or any of them and shall be entitled to
apply the proceeds of such sale or other disposal in paying the costs of such
sale or disposal and thereafter in or towards the discharge of the Secured
Obligations or otherwise as provided for in this Assignment.

 

8.5                                 Statutory Powers

 

For the purposes of all powers implied by
statute, the Secured Obligations shall be deemed to have become due and payable
on the date of this Assignment.

 

8.6                                 Law of Property Act

 

Sections 93 and 103 of the Law of Property Act
1925 shall not apply to this Assignment nor to any exercise by the Security
Trustee of its right to consolidate mortgages or its power of sale.

 

14

 

8.7                                 Realisation Accounts

 

If the Security Trustee enforces the Security
(whether by appointment of a Receiver or otherwise), the Security Trustee may
open and maintain with such financial institutions as it thinks fit one or more
realisation accounts and pay any moneys it holds or receives under or pursuant
to this Assignment into any such realisation account pending the application of
such moneys pursuant to Clause 10 (Application of Proceeds).

 

9.                                      ADMINISTRATORS AND RECEIVERS

 

9.1                                 Appointment of Administrator

 

At any time after the Security has become
enforceable, the Security Trustee may appoint an administrator pursuant to the
power contained in paragraph 14 of Schedule B1 to the Insolvency Act 1986.

 

9.2                                 Appointment of Receivers

 

At any time after the Security has become
enforceable or if the Company requests it to do so, the Security Trustee may,
by written instrument and without notice to the Company, appoint any one or
more persons as Receiver of such part of the Secured Assets as may be permitted
by law.

 

9.3                                 Status of Receivers

 

Each Receiver shall:

 

(a)                  be
entitled to act individually as well as jointly with any other person appointed
as Receiver; and

 

(b)                 for
all purposes be deemed to be the agent of the Company (and no Receiver shall at
any time act as agent for the Security Trustee) and shall as such agent be
deemed to be in the same position as a Receiver duly appointed by a mortgagee
under the Law of Property Act 1925.

 

9.4                                 Powers of a Receiver

 

(a)                  Every
Receiver appointed pursuant to Clause 9.2 (Appointment
of Receivers) shall have and be entitled to exercise all of the
powers set out in paragraph (b) below in addition to (i) all the
powers conferred by the Law of Property Act 1925 (as extended by this
Assignment) on any receiver appointed under such Act and (ii) (whether or
not such Receiver is an administrative receiver) all the powers of an
administrative receiver set out in Schedule 1 to the Insolvency Act 1986.

 

(b)                 The
powers referred to in the first sentence of paragraph (a) above are:

 

(i)                                     to take immediate possession of, get in and collect
all or any part of the Secured Assets over which he is appointed;

 

15

 

(ii)                                  to carry on the business of the Company insofar as it relates
to the Secured Assets over which he is appointed as it may think fit, including
the entering into of contracts and the repudiation, rescission or variation of
any contract to which the Company is a party, and the acquisition or hiring of
assets;

 

(iii)                               for the purpose of exercising any of the powers,
authorities and discretions conferred on it by or pursuant to this Assignment
and/or of defraying any costs, charges, losses or expenses (including
remuneration) which shall be incurred by it in the exercise thereof or for any
other purpose, to raise and borrow money either unsecured or on the security of
all or any part of the Secured Assets over which he is appointed either in
priority to the Security or otherwise and generally on such terms and conditions
as it may think fit and no person lending such money shall be concerned to
enquire as to the propriety or purpose of the exercise of such power or to see
to the application of any money so raised or borrowed;

 

(iv)                              to sell, lease, exchange, grant options or licences
over, convert into money and realise or otherwise deal with, all or any part of
the Secured Assets over which he is appointed by public auction or private
contract and generally in such manner and on such terms as it shall think
proper.  Without prejudice to the
generality of the foregoing, it may do any of these things for a consideration
consisting of cash, debentures or other obligations, shares, stock or other
valuable consideration and any such consideration may be payable in a lump sum
or by instalments spread over such period as it may think fit;

 

(v)                                 to settle, adjust, refer to arbitration, compromise
and arrange any claims, accounts, disputes, questions and demands with or by
any person who is or claims to be a creditor of the Company or relating in any
way to the Secured Assets over which he is appointed or any part thereof;

 

(vi)                              to bring, prosecute, enforce, defend and abandon any
actions, suits and proceedings in relation to the Secured Assets over which he
is appointed or any part thereof as may seem to it to be expedient;

 

(vii)                           to give valid receipts for all moneys and execute all
assurances and things which it may think proper or desirable for realising the
Secured Assets over which he is appointed;

 

(viii)                        to form a Subsidiary or Subsidiaries of the Company
(whether by acquisition or otherwise) and to supervise and manage the same and
to transfer or otherwise dispose to any such Subsidiary all or any part of the
Secured Assets over which he is appointed;

 

(ix)                                to enter into or otherwise grant guarantees,
indemnities or otherwise incur obligations in respect of the liabilities of
third parties and to make payments due in relation to the same; and

 

16

 

(x)                                   to do all such other acts and things as it may
consider desirable or necessary for realising all or any part of the Secured
Assets over which he is appointed or incidental or conducive to any of the
matters, powers or authorities conferred on a Receiver under or by virtue of
this Assignment; to exercise in relation to all or any part of the Secured
Assets over which he is appointed all such powers, authorities and things as it
would be capable of exercising if it were the absolute beneficial owner of the
same; and to use the name of the Company for all or any of such purposes.

 

9.5                                 Removal and Remuneration

 

(a)                  The
Security Trustee may whenever it may deem it expedient (and so far as it is
lawfully able), by written instrument (i) remove any Receiver appointed by
it and (ii) appoint a new Receiver in the place of any Receiver whose
appointment has been terminated and may from time to time fix the remuneration
of any Receiver appointed by it without the limitations imposed by Section 109
of the Law of Property Act 1925.

 

(b)                 The
Company shall be solely responsible for the payment of the remuneration of any
Receiver appointed pursuant to this Assignment.

 

9.6                                 Security Trustee’s Rights

 

To the fullest extent permitted by law, all or
any of the powers, authorities and discretions which are conferred by this
Assignment (either expressly or impliedly) upon a Receiver in respect of the
Secured Assets may, after the Security has become enforceable, be exercised by
the Security Trustee in relation to the whole or any part of the Secured Assets
irrespective of whether or not a Receiver of all or any part of such Secured
Assets has been appointed.

 

10.                               APPLICATION OF PROCEEDS

 

All moneys received by the Security Trustee or
by any Receiver shall be applied, after the discharge of the remuneration and
expenses of the Receiver and all liabilities having priority to the Secured
Obligations, in or towards satisfaction of the Secured Obligations in
accordance with the terms of the Group Intercreditor Deed and the Security Trust Agreement, except that
the Security Trustee may credit the same to a suspense account for so long and
in such manner as the Security Trustee may from time to time determine and the
Receiver may retain the same for such period as he and the Security Trustee
consider expedient.

 

11.                               POWER OF ATTORNEY

 

11.1                           Appointment

 

By way of security for the performance of its
obligations under this Assignment, the Company irrevocably appoints the
Security Trustee and any Receiver (and their respective delegates and
sub-delegates) to be its attorney acting severally (or jointly with any other
such attorney or attorneys) and on its behalf and in its name or otherwise to
do any and every thing which the Company is obliged to do under the

 

17

 

terms of this Assignment or which such attorney
considers necessary or desirable in order to exercise the rights conferred on
it by or pursuant to this Assignment or by law.

 

11.2                           Ratification

 

The Company ratifies and confirms and agrees to
ratify and confirm whatever any attorney appointed under this Assignment shall
do in its capacity as such.

 

12.                               PROTECTION OF SECURITY TRUSTEE
AND RECEIVERS

 

12.1                           No Liability as Mortgagee in
Possession

 

Neither the Security Trustee nor any Receiver
shall, by reason of it or such Receiver entering into possession of all or any
part of the Secured Assets or taking any action permitted by this Assignment,
be liable to account as mortgagee in possession or otherwise be liable for any
loss of any kind or for any default or omission for which a mortgagee in
possession might be liable.

 

12.2                           Receivers and Mortgagees

 

Each Receiver and the Security Trustee shall be
entitled to all the rights, powers, privileges and immunities conferred by the
Law of Property Act 1925 (as extended by this Assignment) on mortgagees and
receivers when such receivers have been duly appointed thereunder.

 

12.3                           Receiver as Agent

 

Each Receiver shall be the agent of the Company
and (subject to the provisions of this Assignment) the Company shall be solely
responsible for the acts or default and the remuneration of each Receiver.

 

12.4                           Powers of the Security Trustee

 

To the fullest extent permitted by law, all or
any of the powers, authorities and discretions of a Receiver in respect of the
Secured Assets may, if a Receiver has been or could have been appointed, be
exercised by the Security Trustee in relation to the whole or any part of the
Secured Assets whether or not a Receiver is or has been appointed.

 

13.                               PROTECTION OF THIRD PARTIES

 

No purchaser, mortgagee or other person or
company dealing with the Security Trustee or any Receiver or the agents of any
of them shall have any need to enquire whether the Secured Obligations have
become due and payable, or whether any power which the Security Trustee or any
Receiver is purporting to exercise has become exercisable or whether any of the
Secured Obligations remains outstanding nor to have regard to the application
of any money paid to the Security Trustee or to such Receiver.

 

18

 

14.                               DELEGATION BY SECURITY TRUSTEE

 

The Security Trustee may at any time and from
time to time delegate by power of attorney or in any other manner to any person
or persons all or any of the powers, authorities and discretions which are for
the time being exercisable by the Security Trustee under this Assignment in
relation to all or any part of the Secured Assets.  Any such delegation may be made upon such
terms (including power to sub-delegate) and subject to such regulations as the
Security Trustee may think fit.  The
Security Trustee shall not be in any way liable or responsible to the Company
for any loss or damage arising from any act, default, omission or misconduct on
the part of any such delegate or sub-delegate.

 

15.                               REDEMPTION OF PRIOR MORTGAGES

 

The Security Trustee may, at any time after the
Security has become enforceable, redeem any prior encumbrance over all or any
part of the Secured Assets or procure the transfer of such encumbrance to
itself and may settle and pass the accounts of the prior mortgagee, chargee or
encumbrancer.  Any accounts so settled
and passed shall be conclusive and binding on the Company.  All principal moneys, interest, costs,
charges and expenses of and incidental to such redemption and transfer shall be
paid by the Company to the Security Trustee on demand.

 

16.                               RELEASE OF THE SECURITY

 

After the end of the Security Period, the
Security Trustee shall, at the request and cost of the Company, execute all
such documents and do such other things as may be required to release the
Secured Assets from the Security and procure the reassignment to the Company of
the property and assets assigned to the Security Trustee pursuant to this
Assignment, in each case subject to Clause 22.2 (Settlements
Conditional).

 

17.                               PAYMENTS

 

17.1                           Grossing Up

 

All payments by the Company under this
Assignment shall be made free and clear of, and without deduction for or on
account of, tax except, in the latter case, to the extent that the Company is
required by law to make payment subject to tax. 
If any tax or amounts in respect of tax must be deducted, or any other
deductions must be made, from any amounts payable or paid by the Company, or
paid or payable by the Security Trustee to any Secured Creditor, under this
Assignment, the Company shall pay such additional amounts as may be necessary
to ensure that the relevant Secured Creditor receives a net amount equal to the
full amount which it would have received had payment not been made subject to
tax.

 

17.2                           No Set-Off

 

All payments by the Company under this
Assignment shall be made free and clear of and without deduction for or on
account of any set-off or counter claim.

 

19

 

17.3                           Manner of Payment

 

Each payment made by the Company under this
Assignment shall be paid in the manner in which payments are to be made by a
Borrower under the Senior Facilities Agreement or, upon its repayment in full
and cancellation of all undrawn commitments thereunder, under such equivalent
provision in the Relevant Facilities Agreement.

 

18.                               COSTS AND EXPENSES

 

18.1                           Transaction Costs

 

The Company shall from time to time on demand
of the Security Trustee reimburse the Security Trustee on a full indemnity
basis for all reasonable costs and expenses (including legal fees), incurred
by, or any remuneration payable to, the Security Trustee in connection with the
negotiation, preparation, execution and perfection of this Assignment and the
implementation of the arrangements contemplated in this Assignment.

 

18.2                           Preservation and Enforcement
Costs

 

The Company shall, from time to time on demand
of the Security Trustee, reimburse each Secured Creditor on a full indemnity
basis for all costs and expenses (including legal fees) incurred in or in
connection with the preservation and/or enforcement of any of the rights of
such Secured Creditor under this Assignment.

 

18.3                           Taxes

 

The Company shall promptly pay all stamp,
registration, documentary and other taxes, including any penalties, fines,
supplements, surcharges or interest relating to such taxes, to which this
Assignment or any judgment given in connection with this Assignment is or at
any time may be subject and shall from time to time on demand of the Security
Trustee indemnify each Secured Creditor against any liabilities, costs, claims
and expenses (including legal fees) resulting from any failure to pay or any
delay in paying any such tax.

 

18.4                           Indemnity

 

The Company shall indemnify the Security
Trustee and any and every Receiver on demand from any and all costs, claims,
losses, expenses (including legal fees) and liabilities, and any VAT thereon,
which the Security Trustee or a Receiver may incur as a result of the
occurrence of any Event of Default, the enforcement of the Security or the
exercise or enforcement by the Security Trustee or a Receiver of any of the
rights conferred on it or them by this Assignment or by law except in the case
of fraud, wilful misconduct or gross negligence on the part of the Security
Trustee or the relevant Receiver.

 

18.5                           Value Added Tax

 

(a)                  All
amounts expressed to be payable under this Assignment by the Company to a
Secured Creditor shall be exclusive of any VAT. 
If VAT is chargeable on any supply made by a Secured Creditor to the
Company under this 

 

20

 

Assignment (whether
that supply is taxable pursuant to the exercise of an option or otherwise), the
Company shall pay to that Secured Creditor (in addition to and at the same time
as paying that consideration) an amount equal to the amount of the VAT as
further consideration.

 

(b)                 No
payment or other consideration to be made or furnished to the Company pursuant
to or in connection with this Assignment may be increased or added to by
reference to (or as a result of any increase in the rate of) any VAT which
shall be or may become chargeable in respect of any taxable supply.

 

(c)                  Where
this Assignment requires any party to reimburse a Secured Creditor for any
costs or expenses, that party shall also pay any amount of those costs or
expenses incurred referable to VAT charged thereon.

 

19.                               ASSIGNMENTS AND TRANSFERS

 

19.1                           The Company’s Rights

 

None of the rights and benefits of the Company
under this Assignment shall be capable of being assigned or transferred and the
Company undertakes not to seek to assign or transfer all or any of such rights
and benefits.

 

19.2                           The Security Trustee’s Rights

 

The Security Trustee may assign or transfer all
or any of its rights and benefits under this Assignment in accordance with the
terms of the Security Trust Agreement.

 

20.                               REMEDIES AND WAIVERS

 

No failure by the Security Trustee to exercise,
nor any delay by the Security Trustee in exercising, any right or remedy under
this Assignment shall operate as a waiver thereof nor shall any single or
partial exercise of any such right or remedy prevent any further or other
exercise thereof or the exercise of any other such right or remedy.

 

21.                               SET-OFF

 

21.1                           Right to Set-Off

 

Each Secured Creditor may (to the extent that
the same is beneficially owned by it) set off its rights in respect of any
matured Secured Obligation against any obligation (whether or not matured) owed
by such Secured Creditor to the Company or any Obligor, regardless of the place
of payment, booking branch or currency of either obligation.  If the obligations are in different
currencies, such Secured Creditor may convert either obligation at a market
rate of exchange in its usual course of business for the purpose of effecting
such set-off.

 

21.2                           No Obligation

 

No Secured Creditor shall be obliged to
exercise any right given to it by Clause 21.1 (Right to
Set-Off).

 

21

 

21.3                           Time Deposits

 

Without prejudice to Clause 21.1 (Right to Set-Off), if any time deposit matures on any Account
the Company has with any Secured Creditor at a time within the Security Period
when:

 

(a)                  the
Security has become enforceable; and

 

(b)                 no
amount of the Secured Obligations is due and payable,

 

such time deposit shall automatically be
renewed for such further period as such Secured Creditor in its absolute
discretion considers appropriate.

 

22.                               ADDITIONAL PROVISIONS

 

22.1                           Partial Invalidity

 

If at any time any provision of this Assignment
is or becomes illegal, invalid or unenforceable in any respect or any or all of
the Security is or becomes ineffective in any respect under the law of any
jurisdiction, such illegality, invalidity, unenforceability or ineffectiveness
shall not affect:

 

(a)                  the
legality, validity or enforceability of the remaining provisions of this
Assignment or the effectiveness in any other respect of such Security; or

 

(b)                 the
legality, validity or enforceability of such provision or the effectiveness of
such Security under the laws of any other jurisdiction.

 

22.2                           Settlements Conditional

 

Any release, discharge or settlement between
the Company and the Security Trustee shall be conditional upon no security,
disposition or payment to the Security Trustee or any of the Beneficiaries by
the Company or any other person being void, set aside or ordered to be refunded
pursuant to any enactment or law relating to bankruptcy, liquidation,
administration or insolvency or for any other reason whatsoever and if such
condition shall not be fulfilled the Security Trustee shall be entitled to enforce
this Assignment subsequently as if such release, discharge or settlement had
not occurred and any such payment had not been made.

 

22.3                           Currency Conversion

 

In order to apply any sum held or received by
the Security Trustee or a Receiver in or towards payment of the Secured
Obligations, the Security Trustee or such Receiver may purchase an amount in
another currency and the rate of exchange to be used shall be that at which, at
such time as it considers appropriate, the Security Trustee or such Receiver is
able to effect such purchase.

 

22.4                           Currency Indemnity

 

If any sum due from the Company under this
Assignment or any order or judgment given or made in relation to this
Assignment has to be converted from the currency (the “first
currency”) in which the same is payable under this Assignment or
under 

 

22

 

such order or judgment into another currency
(the “second currency”) for the purpose of (a) making
or filing a claim or proof against the Company, (b) obtaining an order or
judgment in any court or other tribunal or (c) enforcing any order or
judgment given or made in relation to this Assignment, the Company shall
indemnify each Secured Creditor from any loss it suffers or incurs as a result
of any discrepancy between (i) the rate of exchange used for such purpose
to convert the sum in question from the first currency into the second currency
and (ii) the rate or rates of exchange at which such Secured Creditor may
in the ordinary course of business purchase the first currency with the second
currency upon receipt of a sum paid to it in satisfaction, in whole or in part,
of any such order, judgment, claim or proof.

 

22.5                           Rights Cumulative

 

The rights and remedies provided by this
Assignment are cumulative and not exclusive of any rights or remedies provided
by law.

 

22.6                           Unfettered Discretion

 

Any liberty or power which may be exercised or
any determination which may be made under this Assignment by the Security
Trustee or any Receiver may, subject to the terms and conditions of the
Security Trust Agreement and the Group Intercreditor Deed, be exercised or made
in its absolute and unfettered discretion without any obligation to give
reasons.

 

23.                               NOTICES

 

23.1                           Mode of Service

 

Any notice or demand for payment by the
Security Trustee under this Assignment shall, without prejudice to any other
effective mode of making the same, be deemed to have been properly served on
the Company in the manner and at the address set out in clause 20 of the Group
Intercreditor Deed.

 

23.2                           Notices Conclusive

 

Any such notice or demand or any certificate as
to the amount at any time secured by this Assignment shall, save for manifest
error, be conclusive and binding upon the Company if signed by an officer of
the Security Trustee.

 

23.3                           English Language

 

Each communication and document made or
delivered by one party to another pursuant to this Assignment shall be in
English or accompanied by a translation into English  which
is  certified (by an officer of the person
making or delivering the same) as being a true and accurate  translation.

 

24.                               GOVERNING LAW

 

This Assignment and any non-contractual
obligations arising out of or in connection with this Assignment shall be
governed by, and construed in accordance with, English law.

 

23

 

25.                               JURISDICTION

 

25.1                           Courts of England

 

Each of the Company and the Security Trustee
irrevocably agrees that the courts of England shall have jurisdiction to hear
and determine any suit, action or proceedings, and to settle any disputes,
which may arise out of or in connection with this Assignment (respectively “Proceedings” and “Disputes”) and,
for such purposes, irrevocably submits to the jurisdiction of such courts.

 

25.2                           Appropriate Forum

 

The Company irrevocably waives any objection
which it might now or hereafter have to Proceedings being brought or Disputes
settled in the courts of England and agrees not to claim that any such court is
not a convenient or appropriate forum.

 

25.3                           Service of Process

 

The Company agrees that the process by which
any Proceedings are begun may be served on it by being delivered in connection
with any Proceedings in England to Virgin
Media Investment Holdings Limited at 160 Great Portland Street, London W1W 5QA,
United Kingdom or, if different, its registered office for the time
being. If the appointment of the person mentioned in this Clause 25.3 ceases to
be effective, the Company shall immediately appoint another person in England
to accept service of process on its behalf in England and if it fails to do so
within 15 days the Security Trustee shall be entitled to appoint such a
person by notice to the Company. Nothing contained in this Assignment shall
affect the right to serve process in any other manner permitted by law.

 

25.4                           Proceedings in Other
Jurisdictions

 

Nothing in Clause 25.1 (Courts of England) shall (and shall not be construed so as
to) limit the right of the Security Trustee to take Proceedings against the
Company in any other court of competent jurisdiction nor shall the taking of
Proceedings in any one or more jurisdictions preclude the taking of Proceedings
in any other jurisdiction (whether concurrently or not) if and to the extent
permitted by applicable law.

 

26.                               COUNTERPARTS AND EFFECTIVENESS

 

26.1                           Counterparts

 

This Assignment may be executed in counterparts
and both such counterparts taken together shall be deemed to constitute one and
the same instrument.

 

26.2                           Effectiveness

 

This Assignment shall take effect and be
delivered as a deed on the date on which it is stated to be made.

 

24

 

SCHEDULE
1

 

CONTENT
PROVIDER CONTRACTS

 

	
  Parties

  	
   

  	
  Description

  	
   

  	
  Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Telewest Limited

   

  (2) Asia TV Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  19 December 2005 as amended by letter
  agreements dated 19 July 2006 and 31 October 2006 and novated to
  Virgin Media Limited by agreement dated 27 June 2008

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Telewest Limited

   

  (2) Ary Digital (UK) Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  4 June 2004 as amended by letter
  agreements dated 19 July 2006 and 17 January 2008

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Telewest Limited

   

  (2) B4U Network (Europe) Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  24 March 2003 as amended by letter
  agreements dated 25 June 2003, 27 May 2004, 29 November 2005
  and 18 July 2006 and novated to Virgin Media Limited by agreement dated
  22 February 2008

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) MSM Satellite (Singapore) Pte
  Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  20 December 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) Asian Broadcasting FZ-LLC

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  31 August 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) Portland Enterprises (CI) Limited

   

  (3) RHF Productions Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  5 September 2007 as amended by letter
  agreements dated 28 August 2008 and 14 May 2009

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) Playboy TV UK/Benelux Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  22 May 2009

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) TV Group Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  30 June 2005 as amended by letter
  agreement dated 2 August 2007

  

 

25

 

	
  Parties

  	
   

  	
  Description

  	
   

  	
  Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) Phoenix Chinese News &
  Entertainment Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  24 May 2005 as amended by letter
  agreement dated 28 August 2008

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) MUTV Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  29 May 2009

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) The Walt Disney Company Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  24 December 2008 as amended by agreement
  dated 28 April 2009

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) Baby Network Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  10 August 2005 as amended by amendment
  agreement dated 30 August 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Virgin Media Limited

   

  (2) Setanta Sport (PPV) Limited

  	
   

  	
  Contract for the provision of linear channels

  	
   

  	
  19 August 2007 as amended by letter
  agreement dated 22 December 2008

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (1) Future Entertainment S.à r.l.

   

  (2) Virgin Media Limited

   

  (3) Virgin Media Investment Holdings
  Limited

   

  (4) British Sky Broadcasting Limited

  	
   

  	
  Consent Agreement relating to the provision
  of Sky’s premium digital linear channels

  	
   

  	
  26 May 2009

  

 

26

 

THIS ASSIGNMENT has been executed as a deed by the Company and signed by the Security
Trustee on the date written at the beginning of this Assignment.

 

 

THE COMPANY

 

EXECUTED as a DEED
by

FUTURE ENTERTAINMENT S.À R.L.

 

 

	
  /s/ EMMA JONES

  	
   

  
	
  Represented by: Emma Jones

  	
   

  
	
  Title: General Manager

  	
   

  

 

 

THE SECURITY TRUSTEE

 

DEUTSCHE BANK AG, LONDON
BRANCH

 

 

	
  By:

  	
  /s/ N. DAWES

  	
   

  
	
   

  	
  N. Dawes

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ V. MAYELL

  	
   

  
	
   

  	
  V. Mayell

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]