Document:

EX-4.3 REGISTRATION RIGHTS AGREEMENT DATED 4/9/07

 

Exhibit 4.3

Execution Copy

 

REGISTRATION RIGHTS AGREEMENT

Dated as of April 9, 2007

By and Among

TIME WARNER CABLE INC.,

TW NY CABLE HOLDING INC.,

as guarantor

TIME WARNER ENTERTAINMENT COMPANY, L.P.,

as guarantor

and

ABN AMRO Incorporated,

Citigroup Global Markets Inc.,

Deutsche Bank Securities Inc. and

Wachovia Capital Markets, LLC

as Initial Purchasers

5.40% Notes due 2012

5.85% Notes due 2017

6.55% Debentures due 2037

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	Section 1.
	 	Definitions	 	 	1	 
	 
	 	 	 	 	 	 
	Section 2.
	 	Exchange Offer	 	 	5	 
	 
	 	 	 	 	 	 
	Section 3.
	 	Shelf Registration	 	 	8	 
	 
	 	 	 	 	 	 
	Section 4.
	 	Additional Interest	 	 	9	 
	 
	 	 	 	 	 	 
	Section 5.
	 	Registration Procedures	 	 	10	 
	 
	 	 	 	 	 	 
	Section 6.
	 	Registration Expenses	 	 	17	 
	 
	 	 	 	 	 	 
	Section 7.
	 	Indemnification	 	 	18	 
	 
	 	 	 	 	 	 
	Section 8.
	 	Rules 144 and 144A	 	 	21	 
	 
	 	 	 	 	 	 
	Section 9.
	 	Underwritten Registrations	 	 	21	 
	 
	 	 	 	 	 	 
	Section 10.
	 	Miscellaneous	 	 	22	 
	 
	 	 	 	 	 	 
	(a)
	 	No Inconsistent Agreements	 	 	22	 
	(b)
	 	Adjustments Affecting Registrable Notes	 	 	22	 
	(c)
	 	Amendments and Waivers	 	 	22	 
	(d)
	 	Notices	 	 	22	 
	(e)
	 	Guarantors	 	 	24	 
	(f)
	 	Successors and Assigns	 	 	25	 
	(g)
	 	Counterparts	 	 	25	 
	(h)
	 	Headings	 	 	25	 
	(i)
	 	Governing Law	 	 	25	 
	(j)
	 	Severability	 	 	25	 
	(k)
	 	Securities Held by the Issuers or Their Affiliates	 	 	25	 
	(l)
	 	Third-Party Beneficiaries	 	 	25	 
	(m)
	 	Entire Agreement	 	 	25	 
	 
	 	 	 	 	 	 
	SIGNATURES	 	 	S-1	 

-i-

 

 

REGISTRATION RIGHTS AGREEMENT

          This Registration Rights Agreement (this “Agreement”) is dated as of April 9, 2007, by
and among TIME WARNER CABLE INC., a Delaware corporation (the “Company”), TW NY CABLE
HOLDING INC., a Delaware corporation (“TW NY”), TIME WARNER ENTERTAINMENT COMPANY, L.P., a
Delaware limited partnership (“TWE,” and together with TW NY, the “Guarantors”)
(the Company and the Guarantors are referred to collectively herein as the “Issuers”), on
the one hand, and ABN AMRO Incorporated, Citigroup Global Markets Inc., Deutsche Bank Securities
Inc. and Wachovia Capital Markets, LLC, as representatives (the “Representatives”) for the several
Purchasers named on Schedule I hereto (together with the Representatives, the “Initial
Purchasers”), on the other hand.

          This Agreement is entered into in connection with the Purchase Agreement, dated April 4, 2007,
by and among the Issuers and the Initial Purchasers (the “Purchase Agreement”), relating to
the offering of $1,500,000,000 aggregate principal amount of 5.40% Notes due 2012 of the Company
(the “2012 Notes”), $2,000,000,000 aggregate principal amount of 5.85% Notes due 2017 of
the Company (the “2017 Notes”) and $1,500,000,000 aggregate principal amount of 6.55%
Debentures due 2037 of the Company (the “2037 Debentures” and, together with the 2012 Notes
and the 2017 Notes, the “Notes” and each, a “Series” of Notes ). The
execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligation to
purchase the Notes under the Purchase Agreement.

          The parties hereby agree as follows:

     Section 1. Definitions

          As used in this Agreement, the following terms shall have the following meanings:

          “action” shall have the meaning set forth in Section 7(c) hereof.

          “Additional Interest” shall have the meaning set forth in Section 4(a) hereof.

          “Advice” shall have the meaning set forth in Section 5 hereof.

          “Agreement” shall have the meaning set forth in the first introductory paragraph
hereto.

          “Applicable Period” shall have the meaning set forth in Section 2(b) hereof.

          “Board of Directors” shall have the meaning set forth in Section 5 hereof.

          “Business Day” shall mean each day which is not a Saturday, Sunday or other day on
which banking institutions in The City of New York are authorized or required by law or executive
order to be closed.

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          “Company” shall have the meaning set forth in the first introductory paragraph hereto
and shall also include the Company’s permitted successors and assigns.

          “Commission” shall mean the Securities and Exchange Commission.

          “day” shall mean a calendar day.

          “Delay Period” shall have the meaning set forth in Section 5 hereof.

          “EDGAR” shall have the meaning set forth in Section 5(g) hereof.

          “Effectiveness Period” shall have the meaning set forth in Section 3(b) hereof.

          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission promulgated thereunder.

          “Exchange Notes” shall have the meaning set forth in Section 2(a) hereof.

          “Exchange Offer” shall have the meaning set forth in Section 2(a) hereof.

          “Exchange Offer Registration Statement” shall have the meaning set forth in Section
2(a) hereof.

          “Free Writing Prospectus” shall mean each free writing prospectus (as defined in Rule
405 under the Securities Act) prepared by or on behalf of the Company or used or referred to by the
Company in connection with the sale of the Notes or the Exchange Notes.

          “Guarantors” shall have the meaning set forth in the first introductory paragraph
hereto.

          “Holder” shall mean any holder of a Registrable Note or Registrable Notes.

          “Indenture” shall mean the Indenture, dated as of April 9, 2007, by and among the
Issuers and The Bank of New York, a New York banking corporation, as trustee, as supplemented by
the First Supplemental Indenture, dated as of April 9, 2007, by and among the Issuers and Trustee
pursuant to which the Notes are being issued, as amended or supplemented from time to time in
accordance with the terms thereof.

          “Initial Purchasers” shall have the meaning set forth in the first introductory
paragraph hereof.

          “Inspectors” shall have the meaning set forth in Section 5(n) hereof.

          “Issue Date” shall mean April 9, 2007, the date of original issuance of each Series of
Notes.

          “Issuers” shall have the meaning set forth in the first introductory paragraph hereto.

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          “Losses” shall have the meaning set forth in Section 7(a) hereof.

          “NASD” shall mean National Association of Securities Dealers, Inc.

          “Notes” shall have the meaning set forth in the second introductory paragraph hereto.

          “Participant” shall have the meaning set forth in Section 7(a) hereof.

          “Participating Broker-Dealer” shall have the meaning set forth in Section 2(a) hereof.

          “Person” shall mean an individual, corporation, partnership, joint venture
association, joint stock company, trust, unincorporated limited liability company, government or
any agency or political subdivision thereof or any other entity.

          “Private Exchange” shall have the meaning set forth in Section 2(b) hereof.

          “Private Exchange Notes” shall have the meaning set forth in Section 2(b) hereof.

          “Prospectus” shall mean the prospectus included in any Registration Statement
(including, without limitation, any prospectus subject to completion and a prospectus that includes
any information previously omitted from a prospectus filed as part of an effective registration
statement in reliance upon Rule 430A or 430B promulgated under the Securities Act), as amended or
supplemented by any Free Writing Prospectus, prospectus supplement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all material incorporated
by reference or deemed to be incorporated by reference in such Prospectus.

          “Purchase Agreement” shall have the meaning set forth in the second introductory
paragraph hereof.

          “Records” shall have the meaning set forth in Section 5(n) hereof.

          “Registrable Notes” shall mean each Note upon its original issuance and at all times
subsequent thereto, each Exchange Note as to which Section 2(c)(iv) hereof is applicable upon
original issuance and at all times subsequent thereto and each Private Exchange Note upon original
issuance thereof and at all times subsequent thereto, in each case until (i) a Registration
Statement (other than, with respect to any Exchange Note as to which Section 2(c)(iv) hereof is
applicable, the Exchange Offer Registration Statement) covering such Note, Exchange Note or Private
Exchange Note has been declared effective by the Commission and such Note, Exchange Note or such
Private Exchange Note, as the case may be, has been disposed of in accordance with such effective
Registration Statement, (ii) such Note has been exchanged pursuant to the Exchange Offer for an
Exchange Note or Exchange Notes that may be resold without restriction under federal securities
laws, (iii) such Note, Exchange Note or Private Exchange Note, as the case may be, ceases to be
outstanding for purposes of the Indenture or (iv) such Note, Exchange Note or Private Exchange Note
has been sold in compliance with Rule 144 or is salable pursuant to Rule 144(k).

          “Registration Default” shall have the meaning set forth in Section 4(a) hereof.

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          “Registration Statement” shall mean any appropriate registration statement of the
Issuers covering any of the Registrable Notes filed with the Commission under the Securities Act,
and all amendments and supplements to any such Registration Statement, including any Free Writing
Prospectus, post-effective amendments, in each case including the Prospectus contained therein, all
exhibits thereto and all material incorporated by reference therein.

          “Representatives” shall have the meaning set forth in the first introductory paragraph
hereto.

          “Requesting Participating Broker-Dealer” shall have the meaning set forth in Section
2(b) hereof.

          “Rule 144” shall mean Rule 144 promulgated under the Securities Act, as such Rule may
be amended from time to time, or any similar or successor rule (other than Rule 144A) or regulation
hereafter adopted by the Commission providing for offers and sales of securities made in compliance
therewith resulting in offers and sales by subsequent holders that are not affiliates of an issuer
of such securities being free of the registration and prospectus delivery requirements of the
Securities Act.

          “Rule 144A” shall mean Rule 144A promulgated under the Securities Act, as such Rule
may be amended from time to time, or any similar or successor rule (other than Rule 144) or
regulation hereafter adopted by the Commission.

          “Rule 415” shall mean Rule 415 promulgated under the Securities Act, as such Rule may
be amended from time to time, or any similar or successor rule or regulation hereafter adopted by
the Commission.

          “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder.

          “Series” shall have the meaning set forth in the second introductory paragraph
hereto.

          “Shelf Filing Event” shall have the meaning set forth in Section 2(c) hereof.

          “Shelf Registration” shall have the meaning set forth in Section 3(a) hereof.

          “TIA” shall mean the Trust Indenture Act of 1939, as amended.

          “Trustee” shall mean the trustee under the Indenture and the trustee (if any) under
any indenture governing the Exchange Notes and Private Exchange Notes.

          “underwritten registration” or “underwritten offering” shall mean a
registration in which securities of the Issuers are sold to an underwriter for reoffering to the
public.

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     Section 2. Exchange Offer

          (a) Unless the Exchange Offer would violate applicable law or interpretation of the staff of
the Commission, the Issuers shall use their commercially reasonable efforts to (i) prepare and file
a Registration Statement (the “Exchange Offer Registration Statement”) with the Commission
on an appropriate registration form with respect to a registered offer (the “Exchange
Offer”) to exchange any and all of the Registrable Notes for each Series for a like aggregate
principal amount of notes of such series (including the guarantees with respect thereto, the
“Exchange Notes”) that are identical in all material respects to the Notes of such Series
(except that the Exchange Notes shall not contain restrictive legends, terms with respect to
transfer restrictions or Additional Interest upon a Registration Default), (ii) cause the Exchange
Offer Registration Statement to be declared effective under the Securities Act and (iii) consummate
the Exchange Offer within 270 days after the Issue Date (or, if such 270th day is not a Business
Day, on or prior to the first Business Day thereafter). Upon the Exchange Offer Registration
Statement being declared effective by the Commission, the Issuers shall promptly commence the
Exchange Offer and offer the Exchange Notes of each Series in exchange for surrender of the Notes
of such Series. The Issuers shall keep the Exchange Offer open for not less than 30 days (or
longer if required by applicable law) after the date notice of the Exchange Offer is mailed to
Holders.

          Each Holder that participates in the Exchange Offer will be required to represent to the
Issuers in writing that (i) any Exchange Notes to be received by it will be acquired in the
ordinary course of such Holder’s business, (ii) it has no arrangement or understanding with any
Person to participate in the distribution (within the meaning of the Securities Act) of the
Exchange Notes in violation of the provisions of the Securities Act, (iii) it is not an “affiliate”
of the Company or any Guarantor as defined by Rule 405 of the Securities Act, or if it is an
affiliate, it will comply with the registration and prospectus delivery requirements of the
Securities Act to the extent applicable, (iv) if such Holder is not a broker-dealer, it is not
engaged in, and does not intend to engage in, a distribution of Exchange Notes and (v) if such
Holder is a broker-dealer that will receive Exchange Notes for its own account in exchange for
Registrable Notes that were acquired as a result of market-making or other trading activities (a
“Participating Broker-Dealer”), it will deliver a prospectus in connection with any resale
of such Exchange Notes.

          (b) The Issuers and the Initial Purchasers acknowledge that the staff of the Commission has
taken the position that any Participating Broker-Dealer may be deemed to be an “underwriter” within
the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the
Securities Act in connection with any resale of such Exchange Notes (other than a resale of an
unsold allotment resulting from the original offering of the Notes).

          The Issuers and the Initial Purchasers also acknowledge that the staff of the Commission has
taken the position that if the Prospectus contained in the Exchange Offer Registration Statement
includes a plan of distribution containing a statement to the above effect and the means by which
Participating Broker-Dealers may resell the Exchange Notes, without naming the Participating
Broker-Dealers or specifying the amount of Exchange Notes owned by them, such Prospectus may be
delivered by Participating Broker-Dealers to satisfy their prospectus delivery obligations under
the Securities Act in connection with resales of Exchange Notes for their own accounts, so long as
the Prospectus otherwise meets the requirements of the Securities Act.

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          In light of the foregoing, if requested by a Participating Broker-Dealer (a “Requesting
Participating Broker-Dealer”), the Issuers agree to use their commercially reasonable efforts
to keep the Exchange Offer Registration Statement continuously effective for a period necessary to
comply with applicable law in connection with such resales but in no event more than 180 days after
the date on which the Exchange Offer Registration Statement is declared effective, or such longer
period if extended pursuant to any Delay Period in accordance with the last paragraph of Section 5
hereof, or such earlier date as each Requesting Participating Broker-Dealer shall have notified the
Company in writing that such Requesting Participating Broker-Dealer has resold all Exchange Notes
acquired by it in the Exchange Offer (such period, the “Applicable Period”). The Issuers
shall include a plan of distribution in such Exchange Offer Registration Statement that meets the
requirements set forth in the preceding paragraph.

          With respect to each Series, if, prior to consummation of the Exchange Offer, any Initial
Purchaser or any other Holder holds any Notes of such Series acquired by it that have, or that are
reasonably likely to be determined to have, the status of an unsold allotment in an initial
distribution, or if any Holder is not entitled to participate in the Exchange Offer, the Issuers
upon the request of any such Initial Purchaser or any such Holder, as the case may be, shall
simultaneously with the delivery of the Exchange Notes of such Series in the Exchange Offer, issue
and deliver to the Initial Purchasers or any such Holder, as the case may be, in exchange (the
“Private Exchange”) for such Notes of such Series held by such Initial Purchaser or any
such Holder a like principal amount of notes of such Series (the “Private Exchange Notes”)
of the Issuers that are identical in all material respects to the Exchange Notes of such Series
except that the Private Exchange Notes of each Series may be subject to restrictions on transfer
and bear a legend to such effect. The Private Exchange Notes of each Series shall be issued
pursuant to the same indenture as the Exchange Notes of such Series and bear the same CUSIP number
as the Exchange Notes (if permitted by the CUSIP Service Bureau).

          Upon consummation of the Exchange Offer in accordance with this Section 2, the Issuers shall
have no further registration obligations other than the Issuers’ continuing registration
obligations with respect to (i) Private Exchange Notes, (ii) Exchange Notes held by Participating
Broker-Dealers and (iii) Notes or Exchange Notes as to which clause (c)(iv) of this Section 2
applies.

          In connection with the Exchange Offer, the Issuers shall:

     (1) mail or cause to be mailed to each Holder entitled to participate in the Exchange
Offer a copy of the Prospectus forming part of the Exchange Offer Registration Statement,
together with an appropriate letter of transmittal and related documents;

     (2) utilize the services of a depository for the Exchange Offer with an address in the
Borough of Manhattan, The City of New York, which may be the Trustee or an affiliate of the
Trustee;

     (3) permit Holders to withdraw tendered Notes at any time prior to the close of
business, New York time, on the last Business Day on which the Exchange Offer shall remain
open; and

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     (4) otherwise comply in all material respects with all applicable laws, rules and
regulations.

     As soon as practicable after the close of the Exchange Offer and the Private Exchange, if any,
the Issuers shall:

     (1) accept for exchange all Registrable Notes validly tendered and not validly
withdrawn by the Holders pursuant to the Exchange Offer and the Private Exchange, if any;

     (2) deliver or cause to be delivered to the Trustee for cancellation all Registrable
Notes so accepted for exchange; and

     (3) with respect to each Series, issue and cause the Trustee to authenticate and
deliver promptly to each such Holder of Registrable Notes of such Series, Exchange Notes or
Private Exchange Notes of the same Series, as the case may be, equal in principal amount to
the Registrable Notes of such Holder so accepted for exchange; provided, however, that in
the case of any Registrable Notes held in global form by a depository, authentication and
delivery to such depository of one or more Exchange Notes in global form in such amount
shall satisfy such requirement.

          With respect to each Series, Interest on each Exchange Note and Private Exchange Note issued
pursuant to the Exchange Offer and in the Private Exchange will accrue from the last interest
payment date on which interest was paid on the Notes of such Series surrendered in exchange
therefor or, if no interest has been paid on the Notes of such Series, from the Issue Date.

          The Exchange Offer and the Private Exchange shall not be subject to any conditions, other than
that (i) the Exchange Offer or Private Exchange, as the case may be, does not violate applicable
law or any applicable interpretation of the staff of the Commission, (ii) no action or proceeding
shall have been instituted or threatened in any court or by any governmental agency which might
materially impair the ability of the Issuers to proceed with the Exchange Offer or the Private
Exchange, and no material adverse development shall have occurred in any existing action or
proceeding with respect to the Issuers and (iii) all governmental approvals shall have been
obtained, which approvals the Company reasonably deems necessary for the consummation of the
Exchange Offer or Private Exchange.

          With respect to each Series, the Exchange Notes and the Private Exchange Notes of such Series
shall be issued under (i) the Indenture of such Series or (ii) an indenture identical in all
material respects to the Indenture of such Series (in either case, with such changes as are
necessary to comply with any requirements of the Commission to effect or maintain the qualification
thereof under the TIA) and which, in either case, has been qualified under the TIA and shall
provide that (a) the Exchange Notes of such Series shall not be subject to the transfer
restrictions set forth in the Indenture and (b) the Private Exchange Notes of such Series shall be
subject to the transfer restrictions set forth in the Indenture. The Indenture or such indenture
shall provide that the Exchange Notes, the Private Exchange Notes and the Notes of such Series
shall vote and consent together on all matters as one class and that none of the Exchange Notes,
the Private Exchange Notes or the Notes of such Series will have the right to vote or consent as a
separate class on any matter.

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          (c) In the event that (i) any changes in law or the applicable interpretations of the staff of
the Commission do not permit the Issuers to effect the Exchange Offer, (ii) for any reason the
Exchange Offer is not consummated within 270 days of the Issue Date, or if such 270th day is not a
Business Day, on or prior to the first Business Day thereafter, (iii) any Holder notifies the
Company prior to the 30th day following consummation of the Exchange Offer that it is prohibited by
law or applicable interpretations of the staff of the Commission from participating in the Exchange
Offer, (iv) in the case of any Holder who participates in the Exchange Offer, such Holder notifies
the Company prior to the 30th day following the consummation of the Exchange Offer that it did not
receive Exchange Notes on the date of the exchange that may be sold without restriction under state
and federal securities laws (other than due solely to the status of such Holder as an affiliate of
any Issuer within the meaning of the Securities Act) or (v) any Initial Purchaser so requests with
respect to Notes or Private Exchange Notes that have, or that are reasonably likely to be
determined to have, the status of unsold allotments in an initial distribution (each such event
referred to in clauses (i) through (v) of this sentence, a “Shelf Filing Event”), then the
Issuers shall use their commercially reasonable efforts to file a Shelf Registration pursuant to
Section 3 hereof.

     Section 3. Shelf Registration

          If at any time a Shelf Filing Event shall occur, then:

     (a) Shelf Registration. The Issuers shall use their commercially reasonable
efforts to as promptly as practicable file with the Commission a Registration Statement for
an offering to be made on a continuous basis pursuant to Rule 415 covering all of the
Registrable Notes not exchanged in the Exchange Offer, Private Exchange Notes and Exchange
Notes as to which Section 2(c)(iv) is applicable (the “Shelf Registration”). The
Shelf Registration shall be on Form S-1 or another appropriate form permitting registration
of such Registrable Notes for resale by Holders in the manner or manners designated by them
(including, without limitation, one or more underwritten offerings). The Issuers shall not
permit any securities other than the Registrable Notes to be included in the Shelf
Registration.

     (b) The Issuers shall use their commercially reasonable efforts (x) to cause the Shelf
Registration to be declared effective under the Securities Act and (y) to keep the Shelf
Registration continuously effective under the Securities Act for the lesser of two years
from the Issue Date and the time period referred to in Rule 144(k) under the Securities Act
(the “Effectiveness Period”), or such shorter period ending when all Registrable
Notes covered by the Shelf Registration have been sold in the manner set forth and as
contemplated in the Shelf Registration; provided, however, that (i) the
Effectiveness Period in respect of the Shelf Registration shall be extended to the extent
required to permit dealers to comply with the applicable prospectus delivery requirements of
Rule 174 under the Securities Act and (ii) the Company may suspend the effectiveness of the
Shelf Registration by written notice to the Holders solely (A) as a result of the filing of
a post-effective amendment to the Shelf Registration to incorporate annual audited financial
information with respect to the Company where such post-effective amendment is not yet
effective and needs to be declared effective to permit Holders to use the related Prospectus
or (B) to the extent and for so long as permitted by the penultimate paragraph of Section 5.

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     (c) Supplements and Amendments. The Issuers agree to supplement or make
amendments to the Shelf Registration and the related Prospectus as and when required by the
rules, regulations or instructions applicable to the registration form used for such Shelf
Registration or by the Securities Act or rules and regulations thereunder for shelf
registration.

     Section 4. Additional Interest

          (a) The Issuers and the Initial Purchasers agree that the Holders will suffer damages if the
Issuers fail to fulfill their obligations under Section 2 or Section 3 hereof and that it would not
be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuers agree
that if:

     (i) the Exchange Offer is not consummated on or prior to the 270th day following the
Issue Date, or, if that day is not a Business Day, the next day that is a Business Day; or

     (ii) the Shelf Registration is required to be filed but is not declared effective by
the later of (1) the 210th day after the occurrence of the applicable Shelf Filing Event and
(2) the 270th day following the issue date, or is declared effective by such date but
thereafter ceases to be effective or usable during the Effectiveness Period (unless the
Shelf Registration ceases to be effective or usable as specifically permitted by the
penultimate paragraph of Section 5 hereof),

(each such event referred to in clauses (i) and (ii) a “Registration Default”), the
interest rate borne by the affected Registrable Notes of the applicable Series shall be increased
(“Additional Interest”) by 0.25% per annum; provided, that Additional Interest
shall accrue only for those days that a Registration Default occurs and is continuing, including
the date on which any such Registration Default shall occur to, but excluding, the earlier of (1)
the date on which all Registration Defaults have been cured or (2) the date on which such
Registrable Note of such Series ceases to be a Registrable Note of such Series or otherwise becomes
freely transferable by Holders other than affiliates of the Issuers without further registration
under the Securities Act. Such Additional Interest shall be calculated based on a year consisting
of 360 days comprised of twelve 30-day months. With respect to each Series of Registrable Notes,
following the cure of all Registration Defaults on such Series of Registrable Notes the accrual of
Additional Interest will cease, the interest rate will revert to the original rate and, upon any
subsequent Registration Default following any such cure of all Registration Defaults, Additional
Interest will begin accruing again at a rate of 0.25% per annum as provided above until all
Registration Defaults have been cured.

          Notwithstanding the foregoing, (1) the amount of Additional Interest payable shall not
increase because more than one Registration Default has occurred and is pending and (2) a Holder of
Registrable Notes that is not entitled to the benefits of the Shelf Registration (e.g.,
such Holder has not elected to include information with respect to itself in such Shelf
Registration) shall not be entitled to Additional Interest with respect to a Registration Default
that pertains to the Shelf Registration.

          (b) With respect to each Series, so long as Registrable Notes of such Series remain
outstanding, the Company shall notify the Trustee within five Business Days after each and every
date on which an event occurs in respect of which Additional Interest is required to be paid. The

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Additional Interest due shall be payable on each interest payment date to the record Holder of
Registrable Notes of the applicable Series affected thereby entitled to receive the interest
payment to be paid on such date as set forth in the Indenture.

          The Initial Purchasers and the Holders acknowledge and agree that the Additional Interest
provided by this Section 4 of this Agreement shall be the exclusive monetary remedy available to
Holders for any Registration Default.

     Section 5. Registration Procedures

          In connection with the filing of any Registration Statement pursuant to Section 2 or 3 hereof,
the Issuers shall effect such registrations to permit the sale of the securities covered thereby in
accordance with the intended method or methods of disposition thereof, and pursuant thereto and in
connection with any Registration Statement filed by the Issuers hereunder, the Issuers shall:

     (a) Use their commercially reasonable efforts to prepare and file with the Commission
the Registration Statement or Registration Statements prescribed by Section 2 or 3 hereof,
and use their commercially reasonable efforts to cause each such Registration Statement to
become effective and remain effective as provided herein; provided, however,
that, if (1) such filing is pursuant to Section 3 hereof, or (2) a Prospectus contained in
the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to
be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell
Exchange Notes during the Applicable Period relating thereto, before filing any Registration
Statement or Prospectus or any amendments or supplements thereto, the Issuers shall furnish
to and afford the Holders of the Registrable Notes covered by such Registration Statement or
each such Participating Broker-Dealer, as the case may be, their counsel (if requested by
any such person) and the managing underwriters, if any, a reasonable opportunity to review
copies of all such documents (including copies of any documents to be incorporated by
reference therein and all exhibits thereto) proposed to be filed, provided that each
such Person receiving documents in connection herewith shall take such actions as are
reasonably necessary to protect the confidentiality of such documents and the information
contained herein (which actions may include, without limitation, the execution of a
confidentiality agreement). The Issuers shall not file any Registration Statement or
Prospectus or any amendments or supplements thereto if the Holders of a majority in
aggregate principal amount of the Registrable Notes covered by such Registration Statement,
or any such Participating Broker-Dealer, as the case may be, their counsel, or the managing
underwriters, if any, shall reasonably object.

     (b) Use their commercially reasonable efforts to prepare and file with the Commission
such amendments and post-effective amendments to each Shelf Registration or Exchange Offer
Registration Statement, as the case may be, as may be necessary to keep such Registration
Statement continuously effective for the Effectiveness Period or the Applicable Period, as
the case may be; cause the related Prospectus to be supplemented by any Prospectus
supplement required by applicable law, and as so supplemented to be filed pursuant to Rule
424 (or any similar provisions then in force) promulgated under the Securities Act; and
comply with the applicable provisions of the Securities Act and the Exchange Act with
respect to the disposition of all securities covered by such Registration Statement as so
amended or in

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such Prospectus as so supplemented and with respect to the subsequent resale of any
securities being sold by a Participating Broker-Dealer covered by any such Prospectus, in
each case, in accordance with the intended methods of distribution set forth in such
Registration Statement or Prospectus, as so amended or supplemented.

     (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, furnish without
charge to each selling Holder named in any Shelf Registration Statement, and each of the
underwriter(s), if any, or such Participating Broker-Dealer as the case may be, a reasonable
time before filing with the Commission, copies of any Registration Statement or any
Prospectus included therein or any amendments or supplements to any such Registration
Statement or Prospectus (other than with respect to any such amendment or supplement
resulting solely from the incorporation by reference of any report filed under the Exchange
Act), which documents will be subject to the review and comment of such Holders and
underwriter(s) in connection with such sale, if any, or Participating Broker-Dealer as the
case may be, for a period of at least three Business Days, and the Issuers will not file any
such Registration Statement or Prospectus or any amendment or supplement to any such
Registration Statement or Prospectus (including all such documents incorporated by
reference) to which the Holders or the underwriter(s), if any, or the Participating
Broker-Dealer as the case may be, shall reasonably object in writing within three Business
Days after the receipt of the draft thereof (such objection to be deemed timely made upon
confirmation of facsimile transmission within such period). Notwithstanding the foregoing,
(i) the Issuers shall not be required to take any actions under this Section 5(c) that are
not, in the reasonable opinion of counsel for the Issuers, in compliance with applicable law
or to include any disclosure which at the time would have an adverse effect on the business
or operations of the Company and/or its subsidiaries, as determined in good faith by the
Issuers and (ii) any Person who receives disclosure pursuant to this Section 5(c) shall
agree in writing that it will not disclose, or use in connection with any market
transactions in violation of any applicable securities laws, any such information that the
Company determines, in good faith, to be confidential and that it notifies such Person in
writing is confidential unless (i) the disclosure of such information is necessary to avoid
or correct a material misstatement or omission in such Registration Statement or Prospectus
or (ii) such information has been made generally available to the public.

     (d) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto
from whom the Company has received written notice that such broker-dealer will be a
Participating Broker-Dealer in the applicable Exchange Offer, notify the selling Holders of
Registrable Notes, or each such Participating Broker-Dealer, as the case may be, their
counsel (if such counsel is known to the Issuers) and the managing underwriters, if any, as
promptly as possible (i) when a Prospectus or any Prospectus supplement or post-effective
amendment has been filed, and, with respect to a Registration Statement or any
post-effective amendment, when the same has become effective under the Securities Act
(including in such notice a written statement that

11

 

any Holder may, upon request, obtain, at the sole expense of the Issuers, one conformed
copy of such Registration Statement or post-effective amendment including financial
statements and schedules, documents incorporated or deemed to be incorporated by reference
and exhibits), (ii) of the issuance by the Commission of any stop order suspending the
effectiveness of a Registration Statement or of any order preventing or suspending the use
of any preliminary prospectus or the initiation of any proceedings for that purpose, (iii)
if at any time when a Prospectus is required by the Securities Act to be delivered in
connection with sales of the Registrable Notes or resales of Exchange Notes by Participating
Broker-Dealers the representations and warranties of the Issuers contained in any agreement
(including any underwriting agreement) contemplated by Section 5(m) hereof cease to be true
and correct in all material respects, (iv) of the receipt by any of the Issuers of any
notification with respect to the suspension of the qualification or exemption from
qualification of a Registration Statement or any of the Registrable Notes or the Exchange
Notes for offer or sale in any jurisdiction, or the initiation or threatening of any
proceeding for such purpose, (v) of the making of any changes in or amendments or
supplements to such Registration Statement, Prospectus or documents so that, in the case of
the Registration Statement, it will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading, and that in the case of the Prospectus, it will not
contain any untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, and (vi) of the Company’s
determination that a post-effective amendment to a Registration Statement would be
appropriate.

     (e) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use their
commercially reasonable efforts to prevent the issuance of any order suspending the
effectiveness of a Registration Statement or of any order preventing or suspending the use
of a Prospectus or suspending the qualification (or exemption from qualification) of any of
the Registrable Notes or the Exchange Notes, as the case may be, for sale in any
jurisdiction, and, if any such order is issued, to use their commercially reasonable efforts
to obtain the withdrawal of any such order at the earliest practicable moment.

     (f) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, furnish to each
selling Holder of Registrable Notes or each such Participating Broker-Dealer, as the case
may be, who so requests, one firm of counsel for all such persons and each managing
underwriter, if any, at the sole expense of the Issuers, one conformed copy of the
Registration Statement or Registration Statements and each post-effective amendment thereto,
including financial statements and schedules, and, if requested, all documents incorporated
or deemed to be incorporated therein by reference and all exhibits.

     (g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus

12

 

contained in the Exchange Offer Registration Statement filed pursuant to
Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, deliver to each
selling Holder of Registrable Notes or each such Participating Broker-Dealer, as the case
may be, their respective counsel (if requested) and the underwriters, if any, at the sole
expense of the Issuers, if not otherwise available on the Commission’s Electronic Data
Gathering, Analysis and Retrieval (“EDGAR”) System or similar system, as many copies of the
Prospectus or Prospectuses (including each form of preliminary prospectus) and each
amendment or supplement thereto and any documents incorporated by reference therein as such
Persons may reasonably request; and, subject to the last paragraph of this Section 5, the
Issuers hereby consent to the use of such Prospectus and each amendment or supplement
thereto by each of the selling Holders of Registrable Notes or each such Participating
Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers (if
any), in connection with the offering and sale of the Registrable Notes covered by, or the
sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and
any amendment or supplement thereto.

     (h) Prior to any public offering of Registrable Notes or Exchange Notes or any delivery
of a Prospectus contained in the Exchange Offer Registration Statement by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use their
commercially reasonable efforts to register or qualify, and to cooperate with the selling
Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be,
the managing underwriter or underwriters, if any, and their respective counsel in connection
with the registration or qualification (or exemption from such registration or
qualification) of such Registrable Notes or Exchange Notes, as the case may be, for offer
and sale under the securities or Blue Sky laws of such jurisdictions within the United
States as any selling Holder, Participating Broker-Dealer, or the managing underwriter or
underwriters reasonably request; keep each such registration or qualification (or exemption
therefrom) effective during the period such Registration Statement is required to be kept
effective and do any and all other acts or things reasonably necessary to enable the
disposition in such jurisdictions of such Exchange Notes or Registrable Notes covered by the
applicable Registration Statement; provided, however, that no Issuer shall
be required to (A) qualify generally to do business in any jurisdiction where it is not then
so qualified, (B) take any action that would subject it to general service of process in any
such jurisdiction where it is not then so subject or (C) subject itself to taxation in any
such jurisdiction where it is not then so subject.

     (i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the
selling Holders of Registrable Notes and the managing underwriter or underwriters, if any,
to facilitate the timely preparation and delivery of certificates representing Registrable
Notes to be sold, which certificates, consistent with the Indenture, shall not bear any
restrictive legends and shall be in a form eligible for deposit with The Depository Trust
Company; and enable such Registrable Notes to be in such denominations and registered in
such names as the managing underwriter or underwriters, if any, or selling Holders may
reasonably request a reasonable period of time prior to any sale of such Registrable Notes.

     (j) Use their commercially reasonable efforts to cause the Registrable Notes or
Exchange Notes covered by any Registration Statement to be registered with or approved by

13

 

such other governmental agencies or authorities as may be reasonably necessary to
enable the seller or sellers thereof or the underwriter or underwriters, if any, to
consummate the disposition of such Registrable Notes or Exchange Notes, except as may be
required solely as a consequence of the nature of such selling Holder’s business, in which
case the Issuers will cooperate in all reasonable respects with the filing of such
Registration Statement and the granting of such approvals.

     (k) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the
occurrence of any event contemplated by Section 5(d)(v) or 5(d)(vi) hereof, as promptly as
practicable prepare and (subject to Section 5(a) and the penultimate paragraph of this
Section 5) file with the Commission, at the sole expense of the Issuers, a supplement or
post-effective amendment to the Registration Statement or a supplement to the related
Prospectus or any document incorporated or deemed to be incorporated therein by reference,
or file any other required document so that, as thereafter delivered to the purchasers of
the Registrable Notes being sold thereunder or to the purchasers of the Exchange Notes to
whom such Prospectus will be delivered by a Participating Broker-Dealer, any such Prospectus
will not contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading.

     (l) On or prior to the effective date of the first Registration Statement relating to
the Registrable Notes of each Series, (i) provide the Trustee with certificates for the
Registrable Notes of each Series in a form eligible for deposit with The Depository Trust
Company and (ii) provide a CUSIP number for the Registrable Notes of each Series.

     (m) In connection with any underwritten offering of Registrable Notes pursuant to a
Shelf Registration, enter into an underwriting agreement as is customary in underwritten
offerings of debt securities similar to the Notes and take all such other actions as are
reasonably requested by the managing underwriter or underwriters in order to expedite or
facilitate the registration or the disposition of such Registrable Notes and, whether or not
such offering is an underwritten offering, (i) use their commercially reasonable efforts to
obtain the written opinions of counsel to the Issuers and written updates thereof in form,
scope and substance reasonably satisfactory to the managing underwriter or underwriters,
addressed to the underwriters covering the matters customarily covered in opinions requested
in underwritten offerings; and (ii) use their commercially reasonable efforts to obtain
“comfort” letters and updates thereof in form, scope and substance reasonably satisfactory
to the managing underwriter or underwriters from the independent certified public
accountants of the Issuers (and, if necessary, any other independent certified public
accountants of any subsidiary of the Company or of any business acquired by the Company for
which financial statements and financial data are, or are required to be, included or
incorporated by reference in the Registration Statement), addressed to each of the
underwriters, such letters to be in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with underwritten offerings.

14

 

     (n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a
Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section
2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make reasonably
available for inspection by any selling Holder of such Registrable Notes being sold or each
such Participating Broker-Dealer, as the case may be, any underwriter participating in any
such disposition of Registrable Notes, if any, and any attorney, accountant or other agent
retained by any such selling Holder or each such Participating Broker-Dealer, as the case
may be, or underwriter (collectively, the “Inspectors”), at the offices where
normally kept, during reasonable business hours, all financial and other records, pertinent
corporate documents and instruments of the Company and its subsidiaries (collectively, the
“Records”) as shall be reasonably necessary to enable them to exercise any
applicable due diligence responsibilities, and cause the officers, directors and employees
of the Company and its subsidiaries to supply all information reasonably requested by any
such Inspector in connection with such Registration Statement and Prospectus. Each
Inspector shall agree in writing that it will keep the Records confidential and that it will
not disclose, or use in connection with any market transactions in violation of any
applicable securities laws, any Records that the Company determines, in good faith, to be
confidential and that it notifies the Inspectors in writing are confidential unless (i) the
disclosure of such Records is necessary to avoid or correct a material misstatement or
omission in such Registration Statement or Prospectus, (ii) the release of such Records is
ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii)
disclosure of such information is necessary or advisable in the opinion of counsel for an
Inspector in connection with any action, claim, suit or proceeding, directly or indirectly,
involving or potentially involving such Inspector and arising out of, based upon, relating
to, or involving this Agreement or the Purchase Agreement, or any transactions contemplated
hereby or thereby or arising hereunder or thereunder, or (iv) the information in such
Records has been made generally available to the public; provided, however,
that (i) each Inspector shall agree to provide notice to the Company of the potential
disclosure of any information by such Inspector pursuant to clause (i), (ii) or (iii) of
this sentence to permit the Issuers to obtain a protective order (or waive the provisions of
this paragraph (n)) and (ii) each such Inspector shall take such actions as are reasonably
necessary to protect the confidentiality of such information (if practicable) to the extent
such action is otherwise not inconsistent with, an impairment of or in derogation of the
rights and interests of the Holder or any Inspector.

     (o) In the case of a Shelf Registration, promptly prior to the filing of any document
that is to be incorporated by reference into a Registration Statement or Prospectus, provide
copies of such document, to the extent requested, to the Initial Purchaser, each selling
Holder named in any Registration Statement, and to the underwriter(s), if any, make each of
the Issuers’ and Guarantors’ management, officers and other representatives available for
discussion of such document and other customary due diligence matters, and include such
information in such document prior to the filing thereof as such selling Holders or
underwriter(s), if any, reasonably may request; provided that the requirements of this
paragraph shall not apply to the Company’s Annual Report on Form 10-K, its Quarterly Reports
on Form 10-Q, its Current Reports on Form 8-K or any other documents filed pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (the “Exchange Act
Documents”). Notwithstanding the foregoing, any Person who receives documents or
disclosure pursuant to this Section 5(o) shall agree

15

 

in writing that it will not disclose, or use in connection with any market transactions
in violation of any applicable securities laws, any such information that the Company
determines, in good faith, to be confidential and that it notifies such Person in writing
are confidential unless (i) the disclosure of such information is necessary to avoid or
correct a material misstatement or omission in such Registration Statement or Prospectus or
(ii) such information has been made generally available to the public.

     (p) Provide an indenture trustee for the Registrable Notes or the Exchange Notes of
each Series, as the case may be, and cause the Indenture or the trust indenture provided for
in Section 2(a) hereof to be qualified under the TIA not later than the effective date of
the Exchange Offer or the first Registration Statement relating to the Registrable Notes of
such Series; and in connection therewith, cooperate with the trustee under any such
indenture and the Holders of the Registrable Notes or Exchange Notes of such Series, as
applicable, to effect such changes to such indenture as may be required for such indenture
to be so qualified in accordance with the terms of the TIA; and execute, and use their
commercially reasonable efforts to cause such trustee to execute, all documents as may be
required to effect such changes, and all other forms and documents required to be filed with
the Commission to enable such indenture to be so qualified in a timely manner.

     (q) Comply in all material respects with all applicable rules and regulations of the
Commission and make generally available to the Company’s securityholders earnings statements
satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or
any similar rule promulgated under the Securities Act) no later than 45 days after the end
of any 12-month period (or 90 days after the end of any 12-month period if such period is a
fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Notes or
Exchange Notes are sold to underwriters in a firm commitment or best efforts underwritten
offering and (ii) if not sold to underwriters in such an offering, commencing on the first
day of the first fiscal quarter of the Company after the effective date of a Registration
Statement, which statements shall cover said 12-month periods consistent with the
requirements of Rule 158.

     (r) If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of
the Registrable Notes by Holders to the Company (or to such other Person as directed by the
Company) in exchange for the Exchange Notes or the Private Exchange Notes, as the case may
be, mark, or cause to be marked, on such Registrable Notes that such Registrable Notes are
being cancelled in exchange for the Exchange Notes or the Private Exchange Notes, as the
case may be; provided that in no event shall such Registrable Notes be marked as
paid or otherwise satisfied.

     (s) Cooperate with each seller of Registrable Notes covered by any Registration
Statement and each underwriter, if any, participating in the disposition of such Registrable
Notes and their respective counsel in connection with any filings reasonably required to be
made with the NASD.

     (t) Use their commercially reasonable efforts to take all other steps reasonably
necessary or advisable to effect the registration of the Exchange Notes and/or Registrable
Notes covered by a Registration Statement contemplated hereby.

16

 

          The Company may require each seller of Registrable Notes or Exchange Notes as to which any
registration is being effected to furnish to the Company such information regarding such seller and
the distribution of such Registrable Notes or Exchange Notes as the Company may, from time to time,
reasonably request. The Company may exclude from such registration the Registrable Notes of any
seller so long as such seller fails to furnish such information within a reasonable time after
receiving such request and in the event of such an exclusion, the Issuers shall have no further
obligation under this Agreement (including, without limitation, the obligations under Section 4)
with respect to such seller or any subsequent Holder of such Registrable Notes. Each seller as to
which any Shelf Registration is being effected agrees to furnish promptly to the Company all
information required to be disclosed in order to make any information previously furnished to the
Company by such seller not materially misleading.

          Each Holder of Registrable Notes and each Participating Broker-Dealer agrees by acquisition of
such Registrable Notes or Exchange Notes that, upon the Company providing notice to such Holder or
Participating Broker-Dealer, as the case may be, (x) of the happening of any event of the kind
described in Section 5(d)(ii), 5(d)(iii), 5(d)(iv) or 5(d)(v) hereof, or (y) that the Board of
Directors of the Company (the “Board of Directors”) has resolved that the Company has a
bona fide business purpose for doing so, then, upon providing such notice (which shall refer to the
penultimate paragraph of this Section 5), the Issuers may delay the filing or the effectiveness of
the Exchange Offer Registration Statement or the Shelf Registration (if not then filed or
effective, as applicable) and shall not be required to maintain the effectiveness thereof or amend
or supplement the Exchange Offer Registration Statement or the Shelf Registration, in all cases,
for a period (each, “Delay Period”) expiring upon the earlier to occur of (i) in the case
of the immediately preceding clause (x), such Holder’s or Participating Broker-Dealer’s receipt of
the copies of the supplemented or amended Prospectus contemplated by Section 5(j) hereof or until
it is advised in writing (the “Advice”) by the Company that the use of the applicable
Prospectus may be resumed, and has received copies of any amendments or supplements thereto or (ii)
in the case of the immediately preceding clause (y), the date which is the earlier of (A) the date
on which such business purpose ceases to interfere with the Issuers’ obligations to file or
maintain the effectiveness of any such Registration Statement pursuant to this Agreement or (B) 120
days after the Company notifies the Holders of such good faith determination. There shall not be
(i) more than three Delay Periods during any 12-month period and (ii) more than an aggregate of 180
days of Delay Periods during any 12-month period. The maximum length of the Applicable Period set
forth in Section 2(b) shall be extended by a number of days equal to the number of days during any
Delay Period. Any Delay Period will not alter the obligations of the Issuers to pay Additional
Interest under the circumstances set forth in Section 4 hereof.

          Each Holder or Participating Broker-Dealer, by its acceptance of any Registrable Note, agrees
that during any Delay Period, each Holder or Participating Broker-Dealer will discontinue
disposition of such Notes or Exchange Notes covered by such Registration Statement or Prospectus or
Exchange Notes to be sold by such Holder or Participating Broker-Dealer, as the case may be.

     Section 6. Registration Expenses

          All fees and expenses incident to the performance of or compliance with this Agreement by the
Issuers (other than any underwriting discounts or commissions) shall be borne by the Issuers,
whether or not the Exchange Offer Registration Statement or the Shelf Registration is filed or

17

 

becomes effective or the Exchange Offer is consummated, including, without limitation, (i) all
registration and filing fees (including, without limitation, reasonable fees and expenses of
compliance with state securities or Blue Sky laws (including, without limitation, reasonable fees
and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Notes or
Exchange Notes and determination of the eligibility of the Registrable Notes or Exchange Notes for
investment under the laws of such jurisdictions (x) where the holders of Registrable Notes are
located, in the case of an Exchange Offer, or (y) as provided in Section 5(h) hereof, in the case
of a Shelf Registration or in the case of Exchange Notes to be sold by a Participating
Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without
limitation, expenses of printing certificates for Registrable Notes or Exchange Notes in a form
eligible for deposit with The Depository Trust Company and of printing prospectuses if the printing
of prospectuses is requested by the managing underwriter or underwriters, if any, or by the Holders
of a majority in aggregate principal amount of the Registrable Notes included in any Registration
Statement or in respect of Exchange Notes to be sold by any Participating Broker-Dealer during the
Applicable Period, as the case may be, (iii) messenger, telephone and delivery expenses of the
Issuers, (iv) fees and disbursements of counsel for the Issuers and the reasonable fees and
disbursements of one special counsel for all of the sellers of Registrable Notes in connection with
the Shelf Registration not to exceed $20,000 (exclusive of any counsel retained pursuant to Section
7 hereof) selected by the Holders of a majority in aggregate principal amount of Notes, Exchange
Notes and Private Exchange Notes being registered and reasonably satisfactory to the Issuers, (v)
fees and disbursements of all independent registered public accounting firms referred to in Section
5(m)(ii) hereof (including, without limitation, the expenses of any special audit and “comfort”
letters required by or incident to such performance), (vi) fees and expenses of all other Persons
retained by any of the Issuers, (vii) internal expenses of the Issuers (including, without
limitation, all salaries and expenses of officers and employees of the Company performing legal or
accounting duties), (viii) the expense of any annual audit, (ix) the fees and expenses incurred in
connection with the listing of the securities to be registered on any securities exchange, and the
obtaining of a rating of the securities, in each case, if applicable, (x) any required fees and
expenses incurred in connection with any filing required to be made with the NASD and (xi) the
expenses relating to printing and distributing all Registration Statements and the certificates
representing the Notes and Exchange Notes. Notwithstanding the foregoing or anything to the
contrary, each Holder shall pay all underwriting discounts and commissions of any underwriters with
respect to any Registrable Notes sold by or on behalf of it.

     Section 7. Indemnification

          (a) The Issuers, jointly and severally, agree to indemnify and hold harmless each Holder of
Registrable Notes included in a Registration Statement and each Participating Broker-Dealer selling
Exchange Notes during the Applicable Period, each Person, if any, who controls any such Person
within the meaning of Section 15 of the Securities Act, the agents, employees, officers and
directors of each Holder and each such Participating Broker-Dealer and the agents, partners,
members, employees, officers, managers and directors of any such controlling Person (each, a
“Participant”) from and against any and all losses, liabilities, claims, damages and
expenses whatsoever (including, but not limited to, reasonable attorneys’ fees of one firm of
counsel (together with any local counsel) and any and all reasonable expenses actually incurred in
investigating or defending against any litigation, commenced or threatened, or any claim
whatsoever, and any and all reasonable amounts paid in settlement of any claim or litigation that
is approved by the Issuers in accordance with Section 7(c) below)

18

 

(collectively, “Losses”) to which they or any of them may become subject under
the Securities Act, the Exchange Act or otherwise insofar as such Losses (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement (or any amendment thereto), Prospectus (as
amended or supplemented if the Company shall have furnished any amendments or supplements thereto),
or any preliminary prospectus or any Free Writing Prospectus, or caused by, arising out of or based
upon any omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein, in the case of the Prospectus, in the light of
the circumstances under which they were made, not misleading, provided that (i) the
foregoing indemnity shall not be available to any Participant insofar as such Losses (or actions in
respect thereof) are caused by any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with information relating to such Participant
furnished to the Company in writing by or on behalf of such Participant expressly for use therein
and (ii) that part of a registration statement which shall constitute the statement of Eligibility
and Qualification (Form T-1) of the Trustee. This indemnity agreement will be in addition to any
liability that the Issuers may otherwise have, including, but not limited to, liability under this
Agreement.

          (b) Each Participant agrees, severally and not jointly, to indemnify and hold harmless each
Issuer, each Person, if any, who controls any Issuer within the meaning of Section 15 of the
Securities Act, and each of their respective agents, partners, members, employees, officers and
members of the board of directors from and against any Losses to which they or any of them may
become subject under the Securities Act, the Exchange Act or otherwise insofar as such Losses (or
actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement (or any amendment thereto) or
Prospectus (as amended or supplemented if the Company shall have furnished any amendments or
supplements thereto) or any preliminary prospectus, or any Free Writing Prospectus or caused by,
arising out of or based upon any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein, in the case of the
Prospectus, in the light of the circumstances under which they were made, not misleading, in each
case to the extent, but only to the extent, that any such Loss arises out of or is based upon any
untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon
and in conformity with information relating to such Participant furnished in writing to the Company
by or on behalf of such Participant expressly for use therein.

          (c) Promptly after receipt by an indemnified party under subsection 7(a) or 7(b) above of
notice of the commencement of any action, suit or proceeding (collectively, an “action”),
such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying
party under such subsection, notify each party against whom indemnification is to be sought in
writing of the commencement of such action (but the failure so to notify an indemnifying party
shall not relieve such indemnifying party from any liability that it may have under this Section 7
except to the extent that it has been prejudiced in any material respect by such failure). In case
any such action is brought against any indemnified party, and it notifies an indemnifying party of
the commencement of such action, the indemnifying party will be entitled to participate in such
action, and to the extent it may elect by written notice delivered to the indemnified party
promptly after receiving the aforesaid notice from such indemnified party, to assume the defense of
such action with counsel reasonably satisfactory to such indemnified party. Notwithstanding the
foregoing, the indemnified party or parties shall

19

 

have the right to employ its or their own counsel in any such action, but the fees and
expenses of such counsel shall be at the expense of such indemnified party or parties unless (i)
the employment of such counsel shall have been authorized in writing by the indemnifying parties in
connection with the defense of such action, (ii) the indemnifying parties shall not have employed
counsel to take charge of the defense of such action within a reasonable time after notice of
commencement of the action, or (iii) the named parties to such action (including any impleaded
parties) include such indemnified party and the indemnifying party or parties (or such indemnifying
parties have assumed the defense of such action), and such indemnified party or parties shall have
reasonably concluded, after consultation with counsel, that there may be defenses available to it
or them that are different from or additional to those available to one or all of the indemnifying
parties (in which case the indemnifying parties shall not have the right to direct the defense of
such action on behalf of the indemnified party or parties), in any of which events such reasonable
fees and expenses of counsel shall be borne by the indemnifying parties. In no event shall the
indemnifying party be liable for the reasonable fees and expenses of more than one firm of counsel
(together with appropriate local counsel) at any time for all indemnified parties in connection
with any one action or separate but substantially similar or related actions arising in the same
jurisdiction out of the same general allegations or circumstances. Any such separate firm for the
Participants shall be designated in writing by Participants who sold a majority in interest of
Registrable Notes sold by all such Participants and shall be reasonably acceptable to the Company
and any such separate firm for the Issuers, their affiliates, officers, directors, representatives,
employees and agents and such control Person of such Issuers shall be designated in writing by such
Issuers and shall be reasonably acceptable to the Holders. An indemnifying party shall not be
liable for any settlement of any claim or action effected without its written consent, which
consent may not be unreasonably withheld. No indemnifying party shall, without the prior written
consent of the indemnified party, effect any settlement of any pending or threatened proceeding in
respect of which any indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional
release of such indemnified party from all liability on claims that are the subject matter of such
proceeding and (y) does not include a statement as to or an admission of fault, culpability or a
failure to act by or on behalf of any indemnified party.

          (d) In order to provide for contribution in circumstances in which the indemnification
provided for in this Section 7 is for any reason held to be unavailable from the indemnifying party
for any Losses referred to therein, or is insufficient to hold harmless a party indemnified under
this Section 7 for any Losses referred to therein, each indemnifying party shall contribute to the
amount paid or payable by such indemnified party as a result of such aggregate Losses (i) in such
proportion as is appropriate to reflect the relative benefits received by each indemnifying party,
on the one hand, and each indemnified party, on the other hand, from the sale of the Notes to the
Initial Purchasers or the resale of the Registrable Notes by such Holder, as applicable, or (ii) if
such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause (i) above but also the relative fault of each
indemnified party, on the one hand, and each indemnifying party, on the other hand, in connection
with the statements or omissions that resulted in such Losses, as well as any other relevant
equitable considerations. The relative benefits received by the Issuers, on the one hand, and each
Participant, on the other hand, shall be deemed to be in the same proportion as (x) the total
proceeds from the sale of the Notes to the Initial Purchasers (net of discounts and commissions but
before deducting expenses) received by the Issuers are to (y) the total fees and commissions
received by such Participant in connection with the sale of the Registrable

20

 

Notes. The relative fault of the parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Issuers or such
Participant and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission or alleged statement or omission.

          (e) The parties agree that it would not be just and equitable if contribution pursuant to this
Section 7 were determined by pro rata allocation or by any other method of allocation that does not
take into account the equitable considerations referred to above. Notwithstanding the provisions
of this Section 7, (i) in no case shall any Participant be required to contribute any amount in
excess of the amount by which the fees and commissions received by such Participant in connection
with the sale of the Registrable Notes exceeds the amount of any damages that such Participant has
otherwise paid by reason of any untrue or alleged untrue statement or omission or alleged omission
and (ii) no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of
notice of commencement of any action against such party in respect of which a claim for
contribution may be made against another party or parties under this Section 7, notify such party
or parties from whom contribution may be sought, but the omission to so notify such party or
parties shall not relieve the party or parties from whom contribution may be sought from any
obligation it or they may have under this Section 7 or otherwise, except to the extent that it has
been prejudiced in any material respect by such failure; provided, however, that no
additional notice shall be required with respect to any action for which notice has been given
under this Section 7 for purposes of indemnification. Anything in this section to the contrary
notwithstanding, no party shall be liable for contribution with respect to any action or claim
settled without its written consent, provided, however, that such written consent
was not unreasonably withheld.

     Section 8. Rules 144 and 144A

          The Issuers covenant that if at any time the Issuers are not subject to the reporting
requirements of the Exchange Act, they will, upon the request of any Holder, or beneficial owner,
of Registrable Notes that are “restricted securities” within the meaning of Rule 144 and are not
saleable pursuant to Rule 144(k), make available such information necessary to permit sales
pursuant to Rule 144A under the Securities Act. The Issuers further covenant that for so long as
any Registrable Notes remain outstanding they will take such further action as any Holder of
Registrable Notes may reasonably request from time to time to enable such Holder to sell
Registrable Notes without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144(k) and Rule 144A under the Securities Act, as such Rules may be
amended from time to time. Notwithstanding the foregoing, nothing in this Section 8 shall be
deemed to require the Issuers to register any of their securities under any section of the Exchange
Act.

     Section 9. Underwritten Registrations

          If any of the Registrable Notes covered by any Shelf Registration are to be sold in an
underwritten offering, the investment banker or investment bankers and manager or managers that
will

21

 

manage the offering will be selected by the Holders of a majority in aggregate principal
amount of such Registrable Notes included in such offering and shall be reasonably acceptable to
the Company.

          No Holder of Registrable Notes may participate in any underwritten registration hereunder if
such Holder does not (a) agree to sell such Holder’s Registrable Notes on the basis provided in any
underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements
and (b) complete and execute all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents required under the terms of such underwriting arrangements.

     Section 10. Miscellaneous

          (a) No Inconsistent Agreements. The Issuers have not entered, as of the date hereof,
and shall not, after the date of this Agreement, enter into any agreement with respect to any of
their securities that is inconsistent with the rights granted to the Holders of Registrable Notes
in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the
Holders hereunder do not conflict with and are not inconsistent with, in any material respect, the
rights granted to the holders of any of the Issuers’ other issued and outstanding securities under
any such agreements.

          (b) Adjustments Affecting Registrable Notes. The Issuers shall not, directly or
indirectly, take any action with respect to the Registrable Notes of each Series as a class that
would adversely affect the ability of the Holders of Registrable Notes of such Series to include
such Registrable Notes in a registration undertaken pursuant to this Agreement other than as
contemplated in this Agreement.

          (c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not
be given except pursuant to a written agreement duly signed and delivered by (I) the Company (on
behalf of all Issuers) and (II) (A) the Holders of not less than a majority in aggregate principal
amount of the then outstanding Registrable Notes and (B) in circumstances that would adversely
affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a
majority in aggregate principal amount of the Exchange Notes held by all Participating
Broker-Dealers; provided, however, that this Section 10(c) may not be amended, modified or
supplemented except pursuant to a written agreement duly signed and delivered by the Issuers and
each Holder and each Participating Broker-Dealer (including any Person who was a Holder or
Participating Broker-Dealer of Registrable Notes or Exchange Notes, as the case may be, disposed of
pursuant to any Registration Statement) affected by any such amendment, modification, waiver or
supplement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable
Notes whose securities are being sold pursuant to a Registration Statement and that does not
directly or indirectly affect, impair, limit or compromise the rights of other Holders of
Registrable Notes may be given by Holders of at least a majority in aggregate principal amount of
the Registrable Notes being sold pursuant to such Registration Statement.

          (d) Notices. All notices and other communications (including, without limitation, any
notices or other communications to the Trustee) provided for or permitted hereunder shall be made
in writing by hand-delivery, registered first-class mail, next-day air courier or telecopier:

22

 

     (i) if to a Holder of the Registrable Notes or any Participating Broker-Dealer, at the
most current address of such Holder or Participating Broker-Dealer, as the case may be, set
forth on the records of the registrar under the Indenture.

     (ii) if to any Issuer, to it at:

Time Warner Cable Inc.

290 Harbor Drive

Stamford, CT 06902

Fax: (203) 328-4094

Attention: General Counsel

with a copies to:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019-6064

Fax: (212) 757-3990

Attention: John C. Kennedy, Esq.

and

Time Warner Inc.

One Time Warner Center

New York, NY 10019

Fax: (212) 484-7151

Attention: Treasurer

23

 

     (iii) if to the Representatives, to them at:

Citigroup Global Markets Inc.

388 Greenwich St.

New York, NY 10013

Fax: (212) 816-7912

Attention: General Counsel

ABN AMRO Incorporated

Park Avenue Plaza

55 East 52nd Street

New York, NY 10055

Attention: Legal Department

Deutsche Bank Securities Inc.

60 Wall Street

New York, NY 10005

Fax: (212) 797-2202

Attention: Debt Capital Markets

Wachovia Capital Markets, LLC

One Wachovia Center, DC-6 (NC0613)

301 South College Street

Charlotte, NC 28288-0602

Fax: (704) 383-0661

Attention: Syndicate Department

          All such notices and communications shall be deemed to have been duly given: when delivered
by hand, if personally delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when receipt is acknowledged by the recipient’s telecopier machine, if
telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing
overnight delivery.

          Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address and in the manner specified in such
Indenture.

          (e) Guarantors. So long as any Registrable Notes remain outstanding, the Issuers
shall cause each Person that becomes a guarantor of the Notes under the Indenture to execute and
deliver a counterpart to this Agreement which subjects such Person to the provisions of this
Agreement as a Guarantor.

24

 

          (f) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto, the Holders and the
Participating Broker-Dealers; provided, however, that this Agreement shall not inure to the benefit
of or be binding upon a successor or assign of a Holder unless and to the extent such successor or
assign holds Registrable Notes.

          (g) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

          (h) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

          (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW THEREOF.

          (j) Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their best efforts to find and employ an alternative means to achieve the same or
substantially the same result as that contemplated by such term, provision, covenant or
restriction. It is hereby stipulated and declared to be the intention of the parties that they
would have executed the remaining terms, provisions, covenants and restrictions without including
any of such that may be hereafter declared invalid, illegal, void or unenforceable.

          (k) Securities Held by the Issuers or Their Affiliates. Whenever the consent or
approval of Holders of a specified percentage of Registrable Notes is required hereunder,
Registrable Notes held by the Issuers or any of their affiliates (as such term is defined in Rule
405 under the Securities Act) shall not be counted in determining whether such consent or approval
was given by the Holders of such required percentage.

          (l) Third-Party Beneficiaries. Holders and beneficial owners of Registrable Notes and
Participating Broker-Dealers are intended third-party beneficiaries of this Agreement, and this
Agreement may be enforced
by such Persons. No other Person is intended to be, or shall be construed as, a third-party
beneficiary of this Agreement.

          (m) Entire Agreement. This Agreement, together with the Purchase Agreement and the
Indenture, is intended by the parties as a final and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein and therein
and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and
the Issuers on the other, or between or among any agents, representatives, parents, subsidiaries,
affiliates, predecessors in interest or successors in interest with respect to the subject matter
hereof and thereof are merged herein and replaced hereby.

25

 

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

	 	 	 	 	 
	 	TIME WARNER CABLE INC.

 	 
	 	By:  	/s/ John K. Martin 	 
	 	 	Name:  	John K. Martin 	 
	 	 	Title:  	EVP, Chief Financial Officer and Treasurer 	 
	 

	 	 	 	 	 
	 	TW NY CABLE HOLDING INC. 

 	 
	 	By:  	/s/ John K. Martin 	 
	 	 	Name:  	John K. Martin 	 
	 	 	Title:  	EVP and Treasurer 	 
	 

	 	 	 	 	 
	 	TIME WARNER ENTERTAINMENT COMPANY, L.P.

 	 
	 	By:  	/s/ John K. Martin 	 
	 	 	Name:  	John K. Martin 	 
	 	 	Title:  	EVP, Chief Financial Officer and Treasurer 	 
	 

	 	 	 	 	 
	 	REPRESENTATIVES: 

CITIGROUP GLOBAL MARKETS INC.

 	 
	 	By:  	/s/ Jack McSpadden 	 
	 	 	Name:  	Jack McSpadden 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	ABN AMRO INCORPORATED

 	 
	 	By:  	/s/ Paul Hatton 	 
	 	 	Name:  	Paul Hatton 	 
	 	 	Title:  	Managing Director 	 

Signature Page: Registration Rights Agreement

26

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEUTSCHE BANK SECURITIES INC.

 	 
	 	By:  	/s/
R. Scott Flieger 	 
	 	 	Name:  	R. Scott Flieger 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/
Ritu Ketkar
 	 
	 	 	Name:  	Ritu Ketkar 	 
	 	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	WACHOVIA CAPITAL MARKETS, LLC

 	 
	 	By:  	/s/
Bill Ingram 	 
	 	 	Name:  	Bill Ingram 	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page: Registration Rights Agreement

27EX-10.1 PURCHASE AGREEMENT DATED 4/4/2007

 

Exhibit
10.1

EXECUTION
COPY

TIME WARNER CABLE INC.

Purchase Agreement

5.40 % Notes Due 2012

5.85 % Notes Due 2017

6.55 % Debentures Due 2037

April 4, 2007

New York, New York

To the Representatives

  named in Schedule I

  hereto of the Purchasers

  named in Schedule I hereto

Ladies and Gentlemen:

     Time Warner Cable Inc., a Delaware corporation (the “Company”), proposes to issue and sell to
the several initial purchasers named in Schedule I hereto (the “Purchasers”), for whom you (the
“Representatives”) are acting as representatives, the respective principal amounts of its 5.40 %
Notes due 2012, 5.85 % Notes due 2017 and 6.55 % Debentures due 2037 identified in Schedule I
hereto (collectively, the “Debt Securities”), to be issued under an indenture (as from time to time
amended or supplemented, the “Indenture”) among the Company, TW NY Cable Holding Inc., a Delaware
corporation (“TW NY”), Time Warner Entertainment Company, L.P., a Delaware limited partnership
(“TWE” and, together with TW NY, the “Guarantors”), and The Bank of New York, as trustee (the
“Trustee”) (the “Base Indenture”), as supplemented by a First Supplemental Indenture, to be entered
into among the Company, the Guarantors and the Trustee (the “First Supplemental Indenture” and,
together with the Base Indenture, the “Indenture”), providing for the issuance of debt securities
in one or more series, all of which will be entitled to the benefit of the Guarantees referred to
below. Each of TW NY and TWE is a subsidiary of the Company. Pursuant to the Indenture, each of
TW NY and TWE, as primary obligor and not merely as surety, has agreed to fully, irrevocably and
unconditionally guarantee (together, the “Guarantees,” and together with the Debt Securities, the
“Securities”), to each holder of Debt Securities and to the Trustee, (i) the full and punctual
payment of principal of and interest on the Debt Securities when due, whether at maturity, by
acceleration, by redemption or otherwise, and all other monetary obligations of the Company under
the Indenture and the Debt Securities and (ii) the full and punctual performance within applicable
grace periods of all other obligations of the Company under the Indenture and the Debt Securities.
If the firm or firms listed in Schedule I hereto include only the firm or firms listed in Schedule
I hereto, then the terms “Purchasers” and “Representatives,” as used herein, shall each be deemed
to refer to such firm or firms.

     Holders (including subsequent transferees) of the Securities will have the registration rights
set forth in the registration rights agreement, among the Company, the Guarantors and the
Purchasers (the “Registration Rights Agreement”), to be dated the

 

2

Closing Date, for so long as such Debt Securities constitute “Registrable Notes” (as defined
in the Registration Rights Agreement). Pursuant to the Registration Rights Agreement, the Company
will agree to file with the Securities and Exchange Commission (the “Commission”), under the
circumstances set forth therein, (i) a registration statement under the Act (the “Exchange Offer
Registration Statement”) relating to the Securities in a like aggregate principal amount as the
Company issued under the Indenture, identical in all material respects to the Securities and
registered under the Act (the “Exchange Notes”), to be offered in exchange for the Securities (such
offer to exchange being referred to as the “Exchange Offer”) and (ii) if necessary under the
Registration Rights Agreement, a shelf registration statement pursuant to Rule 415 under the Act
(the “Shelf Registration Statement”) and, together with the Exchange Offer Registration Statement,
the “Registration Statements”) relating to the resale by certain holders of the Securities and to
use its commercially reasonable efforts to cause such Registration Statements to become effective
and cause such Registration Statements to remain effective and usable for the periods specified in
the Registration Rights Agreement and to consummate the Exchange Offer.

          All references in this Agreement to the Preliminary Offering Memorandum (as defined in Section
1(a) hereof), the Disclosure Package, and the Final Offering Memorandum (as defined in Section 1(a)
hereof ) shall be deemed as of the relevant time and date to refer to and include the documents
incorporated by reference therein that were filed prior to the Execution Time; all references in
this Agreement to financial statements and schedules and other information that is “contained”,
“included”, “stated” or “set forth” in the Preliminary Offering Memorandum, the Disclosure Package,
or the Final Offering Memorandum (and all other references of like import) shall be deemed to mean
and include all such financial statements and schedules and other information that are or are
deemed to be incorporated by reference from time to time in the Preliminary Offering Memorandum,
the Disclosure Package, and the Final Offering Memorandum, as the case may be; and all references
in this Agreement to amendments or supplements to the Preliminary Offering Memorandum and the Final
Offering Memorandum shall be deemed to mean and include any (i) Permitted Free Writing
Communication (as defined in Section 5(g) hereof) used by the Company after the date of the
Preliminary Offering Memorandum or the Final Offering Memorandum, as the case may be, or (ii) any
document incorporated by reference therein that was filed after the Execution Time. Certain terms
used herein are defined in Section 19 hereof.

          1. Representations and Warranties. Each of the Company, TW NY, and TWE represents and
warrants to, and agrees with, each Purchaser as set forth below in this Section 1.

     (a) A preliminary offering memorandum, dated April 4, 2007 (the “Preliminary Offering
Memorandum”), relating to the Debt Securities to be offered to the Purchasers and a final
offering memorandum dated as of the date of this Agreement (the “Final Offering
Memorandum”) disclosing the offering price and other final terms of the Debt Securities
(even if finalized and issued subsequent to the date of this Agreement) have been or will
be prepared by the Company.

 

3

     (b) As of the Execution Time, the Disclosure Package did not contain any untrue
statement of a material fact or omit to state any material fact necessary in order to make
the statements therein, in light of the circumstances under which they were made, not
misleading. The Final Offering Memorandum, as of the date of this Agreement does not, and
as of the Closing Date will not, include any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading. The preceding sentences do not
apply to statements in or omissions from the Disclosure Package or the Final Offering
Memorandum based upon and in conformity with written information furnished to the Company
by or on behalf of any Purchaser through the Representatives specifically for use therein;
it being understood and agreed that the only such information furnished by or on behalf of
the Purchasers consist of the information described as such in paragraph (b) of Section 8
hereof.

     (c) Each of the Company, TW NY and TWE is validly existing as a corporation or limited
partnership, as the case may be, in good standing under the laws of the State of Delaware,
with full corporate or partnership power and authority, as the case may be, under such laws
to own its properties and conduct its business as described in the Disclosure Package and
the Final Offering Memorandum, and any amendment or supplement thereto, and to enter into
and perform its obligations under this Agreement; and each of the Company, TW NY and TWE is
duly qualified to transact business as a foreign corporation or limited partnership, as the
case may be, and is in good standing in each other jurisdiction in which it owns or leases
property of a nature, or transacts business of a type, that would make such qualification
necessary, except to the extent that the failure to so qualify or be in good standing would
not have a material adverse effect on the Company and its subsidiaries, considered as one
enterprise (a “Material Adverse Effect”).

     (d) Each of the Company’s significant subsidiaries, as such term is defined in Rule
1-02(w) of Regulation S-X under the Act, is validly existing and in good standing under the
laws of the jurisdiction of its formation or organization, with full power and authority
under such laws to own its properties and conduct its business as described in the
Disclosure Package and the Final Offering Memorandum, and is duly qualified to transact
business as a foreign limited liability company or partnership and is in good standing in
each other jurisdiction in which it owns or leases property of a nature, or transacts
business of a type, that would make such qualification necessary, except to the extent that
the failure to so qualify or be in good standing would not have a Material Adverse Effect.

     (e) The Company’s authorized equity capitalization is as set forth in the Disclosure
Package and the Final Offering Memorandum, and any amendment or supplement thereto; and
except as disclosed in the Disclosure Package, all of the outstanding capital stock or
partnership interests of the Guarantors, as applicable, is owned, directly or indirectly,
by the Company, free and clear of all liens, encumbrances, equities or claims; all of the
issued shares of the Company’s Class B Common Stock are owned directly or indirectly by Time Warner Inc. (“Time Warner”).

 

4

     (f) Except as disclosed in the Disclosure Package and the Final Offering Memorandum,
there is no pending or, to our best knowledge, threatened action, suit or proceeding before
any court or governmental agency, authority or body or any arbitrator involving the Company
or any of its subsidiaries or any of their properties that would (i) materially and
adversely affect the ability of the Company or any Guarantor, as appropriate, to perform
its obligations under this Agreement, the Indenture, the Registration Rights Agreement or
the Securities or (ii) would have a Material Adverse Effect.

     (g) This Agreement has been duly authorized, executed and delivered by each of the
Company, TW NY and TWE.

     (h) Neither the Company nor any Guarantor is in violation or default of (i) any
provision of its charter, bylaws, limited liability company agreement or other
organizational documents, (ii) the terms of any indenture, contract, lease, mortgage, deed
of trust, note agreement, loan agreement or other material agreement to which it is a
party, or (iii) any statute, law, rule, regulation, judgment, order or decree of any court,
regulatory body, administrative agency, governmental body, arbitrator or other authority
having jurisdiction over the Company or such Guarantor or any of its properties, as
applicable, except in the case of clauses (ii) or (iii), for such violations or defaults
that would not have a material adverse effect on the performance by the Company of this
Agreement or a Material Adverse Effect.

     (i) Assuming the accuracy of, and compliance with, the representation, warranties and
agreements of the Purchasers under Section 4 of this Agreement and the compliance by the
holders of the Securities with the offering and transfer restrictions set forth in the
Disclosure Package and the Final Offering Memorandum, no consent, approval, authorization
or order of any court or governmental agency or body is required for the authorization,
issuance, sale and delivery of the Securities by the Company and the Guarantors or the
consummation of the transactions contemplated by this Agreement or the Registration Rights
Agreement, except such as have been or will be obtained under the Act, the Exchange Act,
the Trust Indenture Act and such as may be required under the blue sky laws of any
jurisdiction in connection with the purchase and distribution of the Securities by the
Purchasers and such other approvals as have been obtained.

     (j) Assuming the accuracy of, and compliance with, the representations, warranties and
agreements of the Purchasers under Section 4 of this Agreement and the compliance by the
holders of the Securities with the offering and transfer restrictions set forth in the
Disclosure Package and the Final Offering Memorandum, the execution and delivery of this
Agreement, the Indenture and the Registration Rights Agreement by the Company, TW NY and
TWE, the issuance, sale and delivery of Debt Securities by the Company, the issuance and
delivery of their respective Guarantees by TW NY and TWE, and the consummation by the
Company, TW NY and TWE of the transactions contemplated in this Agreement,

 

5

the Indenture, the Registration Rights Agreement, the Disclosure Package and the Final
Offering Memorandum and compliance by the Company, TW NY and TWE with the terms of this
Agreement, the Indenture, the Registration Rights Agreement or the Securities (i) do not
and will not result in any violation of the Certificate of Incorporation, as amended, or
By-laws, as amended, of the Company or TW NY or the certificate of limited partnership, as
amended, or limited partnership agreement, as amended, of TWE, and (ii) do not and will not
conflict with, or result in a breach of any of the terms or provisions of, or constitute a
default under, or result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of the Company or of any Guarantor under (x) any indenture,
mortgage or loan agreement, or any other agreement or instrument, to which the Company or
any Guarantor is a party or by which any of them may be bound or to which any of their
properties may be subject (except for such conflicts, breaches or defaults or liens,
charges or encumbrances that would not have a Material Adverse Effect), (y) any existing
applicable law, rule or regulation (except for such conflicts, breaches, liens, charges or
encumbrances that would not have a Material Adverse Effect, and other than the securities
or blue sky laws of various jurisdictions), or (z) any judgment, order or decree of any
government, governmental instrumentality or court having jurisdiction over the Company or
any Guarantor or any of their respective properties (except for such conflicts, breaches,
liens, charges or encumbrances that would not have a Material Adverse Effect).

     (k) The documents incorporated by reference in the Disclosure Package and the Final
Offering Memorandum, and any amendment or supplement thereto, as of the dates they were
filed with the Commission, complied as to form in all material respects with the
requirements of the Exchange Act.

     (l) The Securities will conform in all material respects to the description thereof
contained in the Disclosure Package and the Final Offering Memorandum.

     (m) The Indenture has been duly authorized by the Company and, at the Closing Date,
will have been duly executed and delivered by the Company and, assuming due authorization,
execution and delivery by the Trustee, will, at the Closing Date, constitute a legal, valid
and binding instrument enforceable against the Company in accordance with its terms
(subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium or other laws affecting creditors’ rights generally from time to time in effect
and subject as to enforceability to general principles of equity, regardless of whether
considered in a proceeding in equity or at law); and the Debt Securities and the Exchange
Notes have been duly authorized by the Company, and, when the Debt Securities are executed
and authenticated in accordance with the provisions of the Indenture and delivered to and
paid for by the Purchasers pursuant to this Agreement, and, when the Exchange Notes are
executed and authenticated in accordance with the terms of the Indenture and delivered to
the holders of the Securities in exchange therefor as contemplated by the Registration
Rights Agreement, will constitute legal, valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms, subject to applicable
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other laws
affecting creditors’

 

6

rights generally from time to time in effect and subject as to enforceability to
general principles of equity, regardless of whether considered in a proceeding in equity or
at law and entitled to the benefits of the Indenture and the Registration Rights Agreement.

     (n) The Indenture has been duly authorized by each of TW NY and TWE and, at the
Closing Date, will have been duly executed and delivered by each of TW NY and TWE and,
assuming due authorization, execution and delivery by the Trustee, will, at the Closing
Date, constitute a legal, valid and binding instrument enforceable against each of TW NY
and TWE in accordance with its terms (subject to applicable bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium or other laws affecting creditors’ rights
generally from time to time in effect and subject as to enforceability to general
principles of equity, regardless of whether considered in a proceeding in equity or at
law); and the Guarantees have been duly authorized by the Guarantors, and, when the
Guarantees are executed and delivered in accordance with the provisions of the Indenture
and delivered to and paid for by the Purchasers pursuant to this Agreement, will constitute
legal, valid and binding obligations of the Guarantors, enforceable against the Guarantors
in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium or other laws affecting creditors’ rights generally
from time to time in effect and subject as to enforceability to general principles of
equity, regardless of whether considered in a proceeding in equity or at law and entitled
to the benefits of the Indenture and the Guarantees.

     (o) To the knowledge of the Company, each firm of independent accountants that is
reporting upon certain audited or reviewed financial statements and schedules included or
incorporated by reference in the Disclosure Package and the Final Offering Memorandum is an
independent registered public accounting firm with respect to the financial statements
covered by the audit or review of such firm, in accordance with the provisions of the Act
and the Exchange Act and the respective applicable published rules and regulations
thereunder.

     (p) The consolidated financial statements, as amended, and the related notes of the
Company and any other person included or incorporated by reference in the Disclosure
Package and the Final Offering Memorandum, other than the consolidated financial statements
of Adelphia Communications Corporation and the Special-Purpose Combined Carve-Out Financial
Statements of the Los Angeles, Dallas & Cleveland Cable System Operations (A Carve-Out of
Comcast Corporation), present fairly in accordance with generally accepted accounting
principles the consolidated financial position of the Company, and any such other person,
as of the dates indicated and the consolidated results of operations of the Company, and
any such other person, and cash flows of each of the Company, and any other such person,
for the periods specified. Such financial statements of the Company have been prepared in
conformity with generally accepted accounting principles applied on a consistent basis
throughout the periods involved, except as otherwise noted therein and subject, in the case
of interim statements, to normal year-end audit adjustments. The financial statement
schedules included or

 

7

incorporated by reference in the Disclosure Package and the Final Offering Memorandum,
other than the financial statement schedules of Adelphia Communications Corporation and the
Special-Purpose Combined Carve-Out Financial Statements of the Los Angeles, Dallas &
Cleveland Cable System Operations (A Carve-Out of Comcast Corporation), present fairly in
accordance with generally accepted accounting principles the information required to be
stated therein. Any supplementary summary financial information or condensed consolidating
financial information included or incorporated by reference in the Disclosure Package and
the Final Offering Memorandum, other than the supplementary summary financial information
or condensed consolidating financial information of Adelphia Communications Corporation and
the Special-Purpose Combined Carve-Out Financial Statements of the Los Angeles, Dallas &
Cleveland Cable System Operations (A Carve-Out of Comcast Corporation), complies with all
applicable accounting requirements and the applicable rules and regulations of the
Commission. Any pro forma financial information included or incorporated by reference in
the Disclosure Package and the Final Offering Memorandum complies with all applicable
accounting requirements and the applicable rules and regulations of the Commission for such
pro forma information. Such pro forma financial information has been properly compiled on
the pro forma basis or bases described therein, and, in the opinion of the Company, the
assumptions used in the preparation thereof are reasonable and the adjustments used therein
are appropriate to give effect to the transactions or circumstances referred to therein.

     (q) None of the Company, TW NY or TWE is an “investment company” or an entity
“controlled” by an “investment company”, as such terms are defined in the Investment
Company Act of 1940, as amended.

     (r) No securities of the same class (within the meaning of Rule 144A(d)(3) under the
Act) as the Securities are listed on any national securities exchange registered under
Section 6 of the Exchange Act or quoted in a U.S. automated inter-dealer quotation system.

     (s) Assuming the accuracy of, and compliance with, the representations, warranties and
agreements of the Purchasers in Section 4 of this Agreement and the compliance by the
holders of the Securities with the offering and transfer restrictions set forth in the
Disclosure Package and the Final Offering Memorandum, the offer and sale of the Securities
in the manner contemplated by this Agreement is exempt from the registration requirements
of the Act; and it is not necessary to qualify the Indenture in respect of the Securities
under the Trust Indenture Act.

     (t) Neither the Company, nor any of its affiliates, nor any person acting on its or
their behalf (other than the Purchasers, as to whom the Company makes no representation)
(i) has, within the six-month period prior to the date hereof, offered or sold in the
United States or to any U.S. person (as such terms are defined in Regulation S under the
Act) the Debt Securities or any security of the same class or series as the Debt Securities
or (ii) has offered or will offer or sell the Debt Securities (A) in the United States by
means of any form of general solicitation or

 

8

general advertising within the meaning of Rule 502(c) under the Act or (B) with
respect to any such securities sold in reliance on Rule 903 or Registration S under the
Act, by means of any directed selling efforts within the meaning of Rule 902(c) of
Regulation S. The Company, its affiliates and any person acting on its or their behalf
(other than the Purchasers, as to whom the Company makes no representation) have complied
and will comply with the offering restrictions requirement of Regulation S.

     (u) The Registration Rights Agreement has been duly authorized by the Company, TW NY
and TWE and, on the Closing Date, will have been duly executed and delivered by the Company
and the Guarantors. When the Registration Rights Agreement has been duly executed and
delivered, the Registration Rights Agreement will be a valid and binding agreement of the
Company and the Guarantors, enforceable against the Company and the Guarantors in
accordance with its terms, subject (i) to applicable bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium or other laws affecting creditors’ rights generally
from time to time in effect (ii) as to enforceability to general principles of equity,
regardless of whether considered in a proceeding in equity or at law and (iii) as to rights
of indemnification and contributions by principles of public policy or Federal and state
securities laws relating thereto. On the Closing Date, the Registration Rights Agreement
will conform in all material respects to the description thereof in the Disclosure Package
and in the Final Offering Memorandum.

     (v) On the Closing Date, the Indenture, will conform in all material respects to the
requirements of the Trust Indenture Act and the rules and regulations of the Commission
applicable to an indenture which is qualified thereunder.

     (w) The Company has been advised by The PORTALSM Market (“PORTAL”) of The
NASDAQ Stock Market, Inc. (the “NASD”) that the Debt Securities have been designated
PORTAL-eligible in accordance with the rules and regulations of the NASD.

     (x) The Company and each of its subsidiaries maintain a system of internal accounting
controls sufficient to provide reasonable assurance that (i) transactions are executed in
accordance with management’s general or specific authorizations; (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with GAAP
and to maintain asset accountability; (iii) access to assets is permitted only in
accordance with management’s general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences. To the knowledge of the
Company, the Company’s and each of its subsidiaries’ internal controls over financial
reporting are effective and the Company and its subsidiaries are not aware of any material
weakness in their internal control over financial reporting.

     (y) The Company and its officers and directors are in compliance in all material
respects with applicable provisions of the Sarbanes-Oxley Act of 2002 and

 

9

the rules and regulations promulgated in connection therewith that are effective and
applicable to the Company and its officers and directors at the Execution Time.

          2. Purchase and Sale. Subject to the terms and conditions and in reliance upon the
representations and warranties herein set forth, the Company agrees to sell to each Purchaser, and
each Purchaser agrees, severally and not jointly, to purchase from the Company at the purchase
price (i) of 99.465% of the principal amount thereof, plus accrued interest, if any, from April 9,
2007 to the Closing Date, the principal amount of 2012 Notes set forth opposite such Purchaser’s
name in Schedule I hereto, (ii) of 99.319% of the principal amount thereof, plus accrued interest,
if any, from April 9, 2007 to the Closing Date, the principal amount of 2017 Notes set forth
opposite such Purchaser’s name in Schedule I hereto and (iii) of 98.481% of the principal amount
thereof, plus accrued interest, if any, from April 9, 2007 to the Closing Date, the principal
amount of 2037 Debentures set forth opposite such Purchaser’s name in Schedule I hereto.

          3. Delivery and Payment. Delivery of and payment for the Securities shall be made on
the Closing Date.

          The Company will deliver to the Representatives for the respective accounts of the several
Purchasers against payment of the purchase price the Securities to be offered and sold by the
Purchasers in reliance on Regulation S (the “Regulation S Securities”) in the form of one or more
temporary global Debt Securities in registered form without interest coupons (the “Regulation S
Global Securities”) which will be deposited with the Trustee as custodian for The Depository Trust
Company (“DTC”) and registered in the name of its nominee. The Company will deliver against
payment of the purchase price the Securities to be purchased by each Purchaser hereunder and to be
offered and sold by each Purchaser in reliance on Rule 144A under the Act (“Rule 144A”) in the form
of one permanent global security in definitive form without interest coupons (the “Restricted
Global Securities”) deposited with the Trustee as custodian for DTC and registered in the name of
Cede & Co., as nominee for DTC. The Regulation S Global Securities and the Restricted Global
Securities shall be assigned separate CUSIP numbers. The Regulation S Global Securities and the
Restricted Global Securities shall include the legend regarding restrictions on transfer set forth
under “Notice to Investors” in the Final Offering Memorandum. Interests in any permanent global
securities will be held only in book-entry form through DTC, except in the limited circumstances
described in the Final Offering Memorandum.

          Payment for the Regulation S Securities and the 144A Securities shall be made by the
Purchasers through the Representatives in federal (same day) funds by wire transfer to an account
of the Company or an account as the Company may direct at a bank acceptable to Purchasers, at the
office of Shearman & Sterling LLP at 9:00 a.m. (New York time) on the Closing Date, against
delivery to the Trustee as custodian for DTC of (i) the Regulation S Global Securities representing
all of the Regulation S Securities and (ii) the Restricted Global Securities representing all of
the 144A Securities. The Regulation S Global Securities and the Restricted Global Securities will
be made available for inspection at the office of Shearman & Sterling LLP at least 24 hours prior
to the Closing Date.

 

10

          4. Offering by Purchasers.

     (a) Each Purchaser will offer the Securities for sale only upon the terms and
conditions set forth in this Agreement and in the Disclosure Package and the Final Offering
Memorandum;

     (b) Each Purchaser is purchasing the Securities pursuant to a private sale exempt from
registration under the Act without the intent to distribute the Securities in violation of
the Act;

     (c) Each Purchaser, severally and not jointly, represents and warrants that it is an
“accredited investor” within the meaning of Regulation D under the Act.

     (d) Each Purchaser, severally and not jointly, acknowledges that the Securities have
not been registered under the Act and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons except in accordance with Regulation
S or otherwise pursuant to an exemption from the registration requirements of the Act.
Each Purchaser severally represents and agrees that it has offered and sold the Securities
and will offer and sell the Securities only in accordance with Rule 903 under the Act or
Rule 144A. Accordingly, neither such Purchaser nor its affiliates, nor any persons acting
on its or their behalf, have engaged or will engage in any directed selling efforts with
respect to the Securities, and such Purchaser, its affiliates and all persons acting on its
or their behalf have complied and will comply with the offering restrictions requirement of
Regulation S and Rule 144A. Each Purchaser severally and not jointly, represents and
agrees that, at or prior to confirmation of sale of the Securities, other than a sale
pursuant to Rule 144A, such Purchaser will have sent to each distributor, dealer or person
receiving a selling concession, fee or other remuneration, that purchases the Securities
from it during the distribution compliance period (as defined in Regulation S) a
confirmation or notice to substantially the following effect:

“The securities covered hereby have not been registered under the U.S.
Securities Act of 1933 (the “Securities Act”) and may not be offered or
sold within the United States or to, or for the account or benefit of,
U.S. persons (i) as part of their distribution at any time or (ii)
otherwise until 40 days after the later of the date of the commencement of
the offering and the closing date, except in either case in accordance
with Regulation S (or Rule 144A if available) under the Securities Act.
Terms used above have the meanings given to them by Regulation S.”

Terms used in this subsection (d) have the meanings given to them by Regulation S.

     (e) Each Purchaser, severally and not jointly, represents and agrees that it and each
of its affiliates has not entered and will not enter into any contractual arrangement with
respect to the distribution of the Securities except for any such arrangements with the other Purchasers or affiliates of the other Purchasers or with
the prior written consent of the Company.

 

11

     (f) Each Purchaser, severally and not jointly, represents and agrees that it and each
of its affiliates has not offered or sold and will not offer or sell the Securities by
means of any form of general solicitation or general advertising, within the meaning of
Rule 502(c) under the Act, including, but not limited to (i) any advertisement, article,
notice or other communication published in any newspaper, magazine or similar media or
broadcast over television or radio, or (ii) any seminar or meeting whose attendees have
been invited by any general solicitation or general advertising. Each Purchaser severally
represents and agrees, with respect to resales made in reliance on Rule 144A of any of the
Securities, to deliver either with the confirmation of such resale or otherwise prior to
settlement of such resale a notice to the effect that the resale of such Securities has
been made in reliance upon the exemption from the registration requirements of the Act
provided by Rule 144A.

     (g) Each Purchaser, severally and not jointly, represents and agrees that it and each
of its affiliates (i) is a person whose ordinary activities involve it in acquiring,
holding, managing or disposing of investments (as principal or agent) for the purposes of
its business and it has not offered or sold and will not offer or sell the Securities other
than to persons whose ordinary activities involve them in acquiring, holding, managing or
disposing of investments (as principal or as agent) for the purposes of their businesses
who it is reasonable to expect will acquire, hold, manage or dispose of investments (as
principal or agent) for the purposes of their businesses where the issue of the Securities
would otherwise constitute a contravention of Section 19 of the Financial Services and
Markets Act 2000 (“FSMA”) by the Company, (ii) has only communicated or caused to be
communicated and will only communicate or cause to be communicated any invitation or
inducement to engage in investment activity (within the meaning of section 21 of the FSMA)
received by it in connection with the issue or sale of any Securities in circumstances in
which section 21(1) of the FSMA does not apply to the Company; and (iii) has complied and
will comply with all applicable provisions of the FSMA with respect to anything done by it
in relation to the Debt Securities in, from or otherwise involving the United Kingdom.

     (h) Each Purchaser, severally and not jointly, represents and agrees that it will not
offer or sell any securities, directly or indirectly, in Japan or to, or for the benefit
of, any resident of Japan (which term as used herein means any person resident in Japan,
including any corporation or other entity organized under the laws of Japan), or to others
for re-offering or resale, directly or indirectly, in Japan or to a resident of Japan,
except pursuant to an exemption from the registration requirements of, and otherwise in
compliance with, the Securities and Exchange Law and any other applicable laws, regulations
and ministerial guidelines of Japan.

     (i) Each Purchaser, severally and not jointly, represents and agrees that, in relation
to each Member State of the European Economic Area which has implemented the Prospectus
Directive (each, a “Relevant Member State”), with

 

12

effect from and including the date on which the Prospectus Directive is implemented in
that Relevant Member State (the “Relevant Implementation Date”) it has not made and will
not make an offer of debt securities to the public in that Relevant Member State prior to
the publication of a prospectus in relation to the Securities which has been approved by
the competent authority in that Relevant Member State or, where appropriate, approved in
another Relevant Member State and notified to the competent authority in that Relevant
Member State, all in accordance with the Prospectus Directive, except that it may, with
effect from and including the Relevant Implementation Date, make an offer of Securities to
the public in that Relevant Member State at any time (i) to legal entities which are
authorized or regulated to operate in the financial markets or, if not so authorized or
regulated, whose corporate purpose is solely to invest in securities; (ii) to any legal
entity which has two or more of (1) an average of at least 250 employees during the last
financial year; (2) a total balance sheet of more than €43,000,000 and (3) an annual net
turnover of more than €0,000,000, as shown in its last annual or consolidated accounts;
or (iii) in any other circumstances which do not require the publication by the Company of
a prospectus pursuant to Article 3 of the Prospectus Directive. For the purposes of this
provision, the expression an “offer of debt securities to the public” in relation to any
debt securities in any Relevant Member State means the communication in any form and by any
means of sufficient information on the terms of the offer and the debt securities to be
offered so as to enable an investor to decide to purchase or subscribe the debt securities,
as the same may be varied in that Member State by any measure implementing the Prospectus
Directive in that Member State and the expression Prospectus Directive means Directive
2003/71/EC and includes any relevant implementing measure in each Relevant Member State.

     (j) Each Purchaser, severally and not jointly, represents and agrees that it and each
of its affiliates has not (i) offered or sold, and will not offer or sell, in Hong Kong, by
means of any document, the Securities other than (a) to “professional investors” as defined
in the Securities and Futures Ordinance (Cap. 571) of Hong Kong and any rules made under
that Ordinance or (b) in other circumstances which do not result in the document being a
“prospectus” as defined in the Companies Ordinance (Cap. 32) of Hong Kong or which do not
constitute and offer to the public within the meaning of that Ordinance or (ii) issued or
had in its possession for the purposes of issue, and will not issue or have in its
possession for the purposes of issue, whether in Hong Kong or elsewhere, any advertisement,
invitation or document relating to the Securities which is directed at, or the contents of
which are likely to be accessed or read by, the public in Hong Kong (except if permitted to
do so, under the securities laws of Hong Kong) other than with respect to the Securities
which are or are intended to be disposed of only to persons outside Hong Kong or only to
“professional investors” as defined in the Securities and Futures Ordinance and any rules
made under that Ordinance.

          5. Agreements. The Company and the Guarantors agree with the several Purchasers that:

 

13

     (a) Prior to the termination of the offering of the Securities, none of the Company,
TW NY and TWE will amend or supplement the Disclosure Package or the Final Offering
Memorandum unless the Company or a Guarantor has furnished you a copy of such supplement or
amendment for your review and the Representatives have not reasonably objected to such
amendment or supplement in a timely manner.

     (b) The Company will prepare a final term sheet, containing solely a description of
the Securities, in the form attached hereto as Schedules II, III and IV.

     (c) If there occurs an event or development as a result of which the Disclosure
Package or the Final Offering Memorandum would include an untrue statement of a material
fact or would omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances then prevailing, not misleading, the Company (i)
will notify promptly the Representatives so that any use of the Disclosure Package or the
Final Offering Memorandum may cease until it is amended or supplemented and (ii) will
promptly prepare, at its own expense, an amendment or supplement which will correct such
misstatement or omission.

     (d) The proceeds of the offering of the Securities will be applied as set forth in the
Disclosure Package and the Final Offering Memorandum.

     (e) The Company, TW NY and TWE will furnish to the Representatives and counsel for the
Purchasers, without charge, copies of the Preliminary Offering Memorandum, each other
document comprising part of the Disclosure Package or the Final Offering Memorandum
(including all amendments and supplements thereto), in each case, as soon as reasonably
available and in such quantities as the Representatives shall reasonably request.

     (f) The Company and the Guarantors will arrange, if necessary, for the qualification
of each series of Securities for distribution, offering and sale under the laws of such
jurisdictions as the Representatives may designate, will maintain such qualifications in
effect so long as required for the distribution of such series of Securities and will
arrange for the determination of the legality of the Securities for purchase by
institutional investors; provided, however, that none of the Company, TW NY
or TWE shall be required to (i) qualify as a foreign corporation or as a dealer in
securities in any jurisdiction where it would not otherwise be required to qualify but for
this Section 5(f), (ii) file any general consent to service of process or (iii) subject
itself to taxation in any such jurisdiction if it is not so subject.

     (g) The Company agrees that, unless it obtains the prior written consent of the
Representatives, which consent will not be unreasonably withheld or delayed, and each
Purchaser, severally and not jointly, agrees with the Company that, unless it obtains the
prior written consent of the Company, it has not made and will not make any offer relating
to the Securities that would constitute a Free Writing Communication, other than
information contained in the final term sheet prepared pursuant to Section 5(b) hereto;
provided that the prior written consent of the parties hereto shall be deemed to have been
given in respect of the Free Writing

 

14

Communication included in Schedules II, III and IV hereto. Any such free writing
communication consented to by the Representatives or the Company, as the case may be, is
hereinafter referred to as a “Permitted Free Writing Communication.”

     (h) None of the Company, its affiliates, or any person acting on its or their behalf
will, directly or indirectly, make offers or sales of any security, or solicit offers to
buy any security, under circumstances that would require the registration of the Securities
under the Act.

     (i) None of the Company, its affiliates, or any person acting on its or their behalf
will engage in any directed selling efforts (within the meaning of Regulation S) with
respect to the Securities; and each of them will comply with the offering restrictions
requirement of Regulation S.

     (j) None of the Company, its affiliates, or any person acting on its or their behalf
will engage in any form of general solicitation or general advertising (within the meaning
of Regulation D) in connection with any offer or sale of the Securities in the United
States.

     (k) During the period of two years after the Closing Date, the Company will not, and
will not permit any of its affiliates (as defined in Rule 144 under the Act) to, resell any
of the Securities which constitute “restricted securities” under Rule 144 that have been
reacquired by any of them, unless (i) such Securities are sold pursuant to a registration
statement which is effective under the Act or (ii) such Securities are sold accompanied by
an opinion of counsel that the buyer of such Securities is acquiring freely tradable
securities.

     (l) During the period of two years after the Closing Date, the Company will not be or
become an open-end investment company, unit investment trust or face-amount certificate
company that is or is required to be registered under Section 8 of the Investment Company
Act.

     (m) The Company will pay all expenses incidental to the performance of its obligations
under this Agreement, the Indenture, the Registration Rights Agreement including (i) the
reasonable fees and expenses of the Trustee, including the fees and disbursements of
counsel for the Trustee, in connection with the Indenture and the Securities; (ii) all
expenses in connection with the initial delivery of the Securities and, as applicable, the
Exchange Notes to the Purchasers, the preparation, printing and distribution of this
Agreement, the Registration Rights Agreement, the Securities, the Indenture, the
Preliminary Offering Memorandum, any other documents comprising any part of the Disclosure
Package, the Final Offering Memorandum, all amendments and supplements thereto; (iii) the
cost of qualifying the Offered Securities for trading in the Portal Market and any expenses
incidental thereto; (iv) any reasonable expenses (including reasonable fees and
disbursements of counsel) incurred in connection with qualification of the Securities or
the Exchange Notes for sale under the laws of such jurisdictions as the Representatives of
the Purchasers designate and the printing of memoranda relating thereto; (v) any fees
charged by investment rating agencies for the rating of the Securities; (vi) the costs and charges of any transfer agent and registrar; and (vii)
the costs of qualifying the Securities with DTC.

 

15

     (n) In connection with the offering of the Securities, until the Representatives on
behalf of the Purchasers shall have notified the Company of the completion of the resale of
the Securities, neither the Company nor any of its affiliates (other than the Purchasers or
their affiliates as to which the Company makes no agreement) has or will, either alone or
with one or more other persons, bid for or purchase, for any account in which it or any of
its affiliates has a beneficial interest, any Securities or attempt to induce any person to
purchase any Securities; and neither it nor any of its affiliates (other than the
Purchasers or their affiliates as to which the Company makes no agreement) will make bids
or purchases for the purpose of creating actual, or apparent, active trading in, or of
raising the price of, the Securities.

     (o) The Company will use its commercially reasonable efforts to cause the Debt
Securities to become qualified for trading in the PORTAL Market.

          6. Conditions to the Obligations of the Purchasers. The obligations of the Purchasers
to purchase the Securities shall be subject to the accuracy in all material respects of the
representations and warranties on the part of the Company and the Guarantors contained herein as of
the Execution Time and the Closing Date, to the accuracy in all material respects of the statements
of the Company and the Guarantors made in any certificates pursuant to the provisions hereof, to
the performance by each of the Company, TW NY and TWE of its obligations hereunder, to the due
execution and delivery of the Indenture, to the absence of any event or condition which would give
you the right to terminate this Agreement and to the following additional conditions:

     (a) At the Closing Date, the Company shall have furnished to you the opinion of the
General Counsel to the Company, or an Associate or Deputy General Counsel to the Company
that practices in the area of corporate and securities law, dated the Closing Date,
substantially in the form of Exhibit A hereto.

     (b) At the Closing Date, the Company shall have furnished to you the opinion and
statement of Paul, Weiss, Rifkind, Wharton & Garrison LLP, counsel to the Company and the
Guarantors, each dated the Closing Date, substantially in the form of Exhibit B and Exhibit
C hereto, respectively;

     (c) At the Closing Date, the Representatives shall have received from Shearman &
Sterling LLP, counsel for the Purchasers, such opinion or opinions, dated the Closing Date,
with respect to the issuance and sale of the Securities, the Indenture, the Registration
Rights Agreement, the Disclosure Package, the Final Offering Memorandum (together with any
supplement thereto), any Company Free Writing Communications and other related matters as
the Representatives may reasonably require, and the Company and the Guarantors shall have
furnished to such counsel such documents as they request for the purpose of enabling them
to pass upon such matters.

 

16

     (d) (1) The Company shall have furnished to the Representatives a certificate of the
Company, signed by any two officers who are an Executive or Senior Vice President of the
Company, dated the Closing Date, to the effect that the signers of such certificate have
examined the Disclosure Package, the Final Offering Memorandum and any supplements or
amendments to any of the foregoing and this Agreement and that:

     (i) the representations and warranties of the Company, TW NY and TWE in this
Agreement are true and correct in all material respects on and as of the Closing
Date with the same effect as if made on the Closing Date and each of the Company, TW
NY and TWE has complied with all the agreements and satisfied all the conditions on
its part to be performed or satisfied at or prior to the Closing Date.

     (ii) since the date of the most recent financial statements included or
incorporated by reference in the Disclosure Package and the Final Offering
Memorandum (exclusive of any amendment or supplement thereto), the Company has made
all filings with the Commission and announcements, in either case required to be
made by the Act or the Exchange Act.

     (2) TW NY shall have furnished to the Representatives a certificate of TW NY,
signed by any two officers who are Vice Presidents of TW NY, dated the Closing
Date, to the effect that the signers of such certificate have examined the
Disclosure Package and the Final Offering Memorandum and any supplement or
amendments thereto and that the representations and warranties of TW NY in this
Agreement are true and correct in all material respects on and as of the Closing
Date with the same effect as if made on the Closing Date and TW NY has complied
with all the agreements and satisfied all the conditions on its part to be
performed or satisfied at or prior to the Closing Date.

     (3) TWE shall have furnished to the Representatives a certificate of TWE,
signed by any two officers, one of whom is an Executive or Senior Vice President of
TWE, dated the Closing Date, to the effect that the signers of such certificate
have examined the Disclosure Package and the Final Offering Memorandum and any
supplement or amendments thereto and that the representations and warranties of TWE
in this Agreement are true and correct in all material respects on and as of the
Closing Date with the same effect as if made on the Closing Date and TWE has
complied with all the agreements and satisfied all the conditions on its part to be
performed or satisfied at or prior to the Closing Date.

     (e) The Representatives shall have received from (A) Ernst & Young LLP, independent
registered public accounting firm for the Company and (B) Deloitte & Touche LLP,
independent registered public accounting firm for Comcast, at the Execution Time and at the
Closing Date, letters, dated as of the Execution Time and as of the Closing Date, as the
case may be, in form and

 

17

substance reasonably satisfactory to the Representatives, containing statements and
information of the type ordinarily included in accountant’s “comfort letters” to
underwriters, delivered according to Statement of Auditing Standards No. 72 (or any
successor bulletin), with respect to the audited, unaudited, pro forma and special purpose
carve-out financial statements, as applicable, and certain financial information contained
or incorporated by reference in the Disclosure Package and the Final Offering Memorandum;
and (ii) the Purchasers shall have received from PricewaterhouseCoopers LLP, independent
registered public accounting firm for Adelphia, at the Execution Time and at the Closing
Date, letters, dated as of the Execution Time and as of the Closing Date, as the case may
be, in form and substance reasonably satisfactory to the Representatives, containing
statements and information of the type ordinarily included in accountant’s “comfort
letters” to underwriters, delivered according to Statement of Auditing Standards No. 72 (or
any successor bulletin), with respect to the audited and unaudited financial statements of
Adelphia contained or incorporated by reference in the Disclosure Package and the Final
Offering Memorandum.

     (f) Subsequent to the Execution Time or, if earlier, the dates as of which information
is given in the Disclosure Package and the Final Offering Memorandum (exclusive of any
amendment or supplement thereto), there shall not have been (i) any decrease or increase
specified in the letter or letters referred to in paragraph (e) of this Section 6 or (ii)
any change, or any development involving a prospective change, in or affecting the business
(including the results of operations or management) or properties of the Company and its
subsidiaries taken as a whole, except as set forth in or contemplated in the Disclosure
Package and the Final Offering Memorandum (exclusive of any supplement thereto) the effect
of which, in any case referred to in clause (i) or (ii) above, is, in the reasonable
judgment of the Representatives, so material and adverse as to make it impractical or
inadvisable to proceed with the offering or delivery of any series of Securities as
contemplated by the Disclosure Package and the Final Offering Memorandum (exclusive of any
supplement thereto).

     (g) Subsequent to the Execution Time, (i) there shall not have been any downgrade in
the credit ratings of any of the Company’s, TW NY’s or TWE’s debt securities by Moody’s
Investor Service, Inc. or Standard & Poor’s Ratings Group, and (ii) none of the Company, TW
NY or TWE shall have been placed under special surveillance, with negative implications, by
Moody’s Investor Service, Inc. or Standard & Poor’s Ratings Group.

     (h) At the Closing Date, the Company and the Guarantors shall have executed and
delivered the Registration Rights Agreement.

     (i) At the Closing Date, the Company, the Guarantors and the Trustee shall have
executed and delivered the Indenture.

     (j) Prior to the Closing Date, the Company and the Guarantors shall have furnished to
the Representatives such further information, certificates and documents as the
Representatives may reasonably request.

 

18

          If any of the conditions specified in this Section 6 shall not have been fulfilled in
all material respects when and as provided in this Agreement, or if any of the opinions and
certificates mentioned above or elsewhere in this Agreement shall not be in all material
respects reasonably satisfactory in form and substance to the Representatives and counsel
for the Purchasers, this Agreement and all obligations of the Purchasers hereunder may be
canceled at, or at any time prior to, the Closing Date by the Representatives and such
cancellation shall be without liability of any party to any other party, except to the
extent provided in Sections 5 and 7. Notice of such cancellation shall be given to the
Company in writing or by telephone or facsimile confirmed in writing.

          7. Reimbursement of Purchasers’ Expenses. If the sale of the Securities provided for
herein is not consummated because any condition to the obligations of the Purchasers set forth in
Section 6 hereof is not satisfied or because of any refusal, inability or failure on the part of
the Company, TW NY or TWE to perform any agreement herein or comply with any provision hereof other
than by reason of a default by any of the Purchasers, the Company and the Guarantors will reimburse
the Purchasers severally upon demand for all out-of-pocket expenses (including reasonable fees and
disbursements of one counsel) that shall have been incurred by them in connection with the proposed
purchase and sale of the Securities.

          8. Indemnification and Contribution. (a) Each of the Company, TW NY and TWE agrees to
indemnify and hold harmless each Purchaser, the directors, officers, employees and agents of each
Purchaser and each person who controls any Purchaser within the meaning of either the Act or the
Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which
they or any of them may become subject under the Act, the Exchange Act or other Federal or state
statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or
alleged untrue statement of a material fact contained in any Preliminary Offering Memorandum, any
Company Free Writing Communication, the Final Offering Memorandum, the Disclosure Package, or in
any amendment thereof or supplement thereto, or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they were made, not
misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or
other expenses reasonably incurred by them in connection with investigating or defending any such
loss, claim, damage, liability or action; provided, however, that none of the
Company, TW NY or TWE will be liable in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon any such untrue statement or alleged untrue
statement or omission or alleged omission made therein in reliance upon and in conformity with
written information furnished to the Company, TW NY and TWE by or on behalf of any Purchaser
through the Representatives specifically for inclusion therein. This indemnity agreement will be
in addition to any liability which the Company, TW NY or TWE may otherwise have.

          (b) Each Purchaser severally agrees to indemnify and hold harmless each of the Company, TW NY
and TWE, each of their respective directors, each of their

 

19

respective officers and each person who controls the Company, TW NY or TWE within the meaning
of either the Act or the Exchange Act, to the same extent as the foregoing indemnity from the
Company, TW NY and TWE to each Purchaser, but only with reference to written information relating
to such Purchaser furnished to the Company, TW NY and TWE by or on behalf of such Purchaser through
the Representatives specifically for inclusion in the documents referred to in the foregoing
indemnity. This indemnity agreement will be in addition to any liability which any Purchaser may
otherwise have. Each of the Company, TW NY and TWE acknowledges that (i) the statements set forth
in the Disclosure Package and the Final Offering Memorandum in (1) the paragraph of the cover page
regarding the delivery of the Securities and (2) the syndicate covering transactions and
stabilizing transactions paragraphs under the caption “Plan of Distribution” and (ii) any
information furnished by the Purchasers for inclusion in any Company Free Writing Communications,
constitute the only information furnished in writing by or on behalf of the several Purchasers for
inclusion in the documents referred to in the foregoing indemnity, and you, as the Representatives,
confirm that such statements are correct.

          (c) Promptly after receipt by an indemnified party under this Section 8 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 8, notify the indemnifying party in writing
of the commencement thereof; but the failure so to notify the indemnifying party (i) will not
relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not
otherwise learn of such action and such failure results in the forfeiture by the indemnifying party
of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party
from any obligations to any indemnified party other than the indemnification obligation provided in
paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel (including
local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent
the indemnified party in any action for which indemnification is sought (in which case the
indemnifying party shall not thereafter be responsible for the fees and expenses of any separate
counsel retained by the indemnified party or parties except as set forth below); provided,
however, that such counsel shall be reasonably satisfactory to the indemnified party.
Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to
represent the indemnified party in an action, the indemnified party shall have the right to employ
separate counsel (including separate local counsel), and the indemnifying party shall bear the
reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by
the indemnifying party to represent the indemnified party would present such counsel with a
conflict of interest, (ii) the actual or potential defendants in, or targets of, any such action
include both the indemnified party and the indemnifying party and the indemnified party shall have
reasonably concluded that there may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available to the indemnifying party (it
being understood, however, that in connection with such action, the indemnifying party shall not be
liable for the expenses of more than one separate counsel (in addition to local counsel) in any one
action or separate but substantially similar actions in the same jurisdiction arising out of the
same general allegations or circumstances, representing the indemnified parties who are parties to
such action or actions), (iii) the indemnifying party shall not have

 

20

employed counsel reasonably satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after notice of the institution of such action or (iv) the
indemnifying party shall authorize the indemnified party to employ separate counsel at the expense
of the indemnifying party. No indemnifying party shall, without the prior written consent of the
indemnified parties, effect any settlement or compromise or consent to the entry of any judgment
with respect to any pending or threatened claim, action, suit or proceeding in respect of which any
indemnification or contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement, compromise or consent
includes an unconditional release of such indemnified party from all liability arising out of such
claim, action, suit or proceeding. No indemnifying party shall be liable for any settlement or
compromise of, or consent to the entry of judgment with respect to, any claim, action, suit or
proceeding affected without its consent, which consent shall not be unreasonably withheld or
delayed.

          (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 8 is
unavailable to or insufficient to hold harmless an indemnified party for any reason, the Company,
TW NY, TWE and the Purchasers severally agree to contribute to the aggregate losses, claims,
damages and liabilities (including legal or other expenses reasonably incurred in connection with
investigating or defending same) (collectively “Losses”) to which the Company, the Guarantors and
one or more of the Purchasers may be subject in such proportion as is appropriate to reflect the
relative benefits received by the Company, TW NY and TWE on one hand, and by the Purchasers, on the
other hand, from the offering of the Securities; provided, however, that in no case
shall any Purchaser (except as may be provided in any agreement among Purchasers relating to the
offering of the Securities) be responsible for any amount in excess of the underwriting discount or
commission applicable to the Securities purchased by such Purchaser hereunder. If the allocation
provided by the immediately preceding sentence is unavailable for any reason, the Company, TW NY,
TWE and the Purchasers severally shall contribute in such proportion as is appropriate to reflect
not only such relative benefits but also the relative fault of the Company and the Guarantors on
the one hand and of the Purchasers on the other in connection with the statements or omissions
which resulted in such Losses as well as any other relevant equitable considerations. Benefits
received by the Company and the Guarantors shall be deemed to be equal to the total net proceeds
from the offering (before deducting expenses), and benefits received by the Purchasers shall be
deemed to be equal to the total underwriting discounts and commissions, in each case as set forth
on the cover page of the Final Offering Memorandum. Relative fault shall be determined by
reference to, among other things, whether any untrue or alleged untrue statement of a material fact
or omission or alleged omission to state a material fact relates to information provided by the
Company, TW NY or TWE on the one hand or the Purchasers on the other, the intent of the parties and
their relative knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission. The Company, the Guarantors and the Purchasers agree that it would not be
just and equitable if contribution were determined by pro rata allocation or any other method of
allocation which does not take account of the equitable considerations referred to above.
Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not

 

21

guilty of such fraudulent misrepresentation. For purposes of this Section 8, each person who
controls an Purchaser within the meaning of either the Act or the Exchange Act and each director,
officer, employee and agent of an Purchaser shall have the same rights to contribution as such
Purchaser, and each person who controls the Company, TW NY or TWE within the meaning of either the
Act or the Exchange Act, each officer and director of the Company, TW NY or TWE shall have the same
rights to contribution as the Company and the Guarantors, subject in each case to the applicable
terms and conditions of this paragraph (d).

     9. Default by a Purchaser. If any one or more Purchasers shall fail on the Closing
Date to purchase and pay for any of the Securities agreed to be purchased by such Purchaser or
Purchasers hereunder and such failure to purchase shall constitute a default in the performance of
its or their obligations under this Agreement, the remaining Purchasers shall be obligated
severally to take up and pay for (in the respective proportions for each of the Securities which
such Purchaser failed to purchase which the principal amount of the Securities set forth opposite
their names in Schedule I hereto bears to the aggregate principal amount of such Securities set
forth opposite the names of all the remaining Purchasers) the Securities which the defaulting
Purchaser or Purchasers agreed but failed to purchase; provided, however, that in
the event that the aggregate principal amount of Securities which the defaulting Purchaser or
Purchasers agreed but failed to purchase shall exceed 10% of the aggregate principal amount of
Securities set forth in Schedule I hereto, the remaining Purchasers shall have the right to
purchase all, but shall not be under any obligation to purchase any, of the Securities, and if such
nondefaulting Purchasers do not purchase all of the Securities, this Agreement will terminate
without liability to any nondefaulting Purchaser or the Company and the Guarantors. In the event
of a default by any Purchaser as set forth in this Section 9, the Closing Date shall be postponed
for such period, not exceeding seven days, as the Representatives and the Company shall determine
in order that the required changes in the Disclosure Package and the Final Offering Memorandum or
in any other documents or arrangements may be effected. Nothing contained in this Agreement shall
relieve any defaulting Purchaser of its liability, if any, to the Company, the Guarantors and any
nondefaulting Purchaser for damages occasioned by its default hereunder.

     10. Termination. This Agreement shall be subject to termination in the absolute
discretion of the Representatives, by notice given to the Company prior to delivery of and payment
for the Securities, if prior to such time (i) trading in the Company’s Class A common stock, par
value $0.01 per share, or any of the Company’s, TW NY’s or TWE’s debt securities shall have been
suspended by the Commission or the New York Stock Exchange or trading in securities generally on
such exchange shall have been suspended or limited or minimum or maximum prices shall have been
established on such exchange, or maximum ranges for prices for securities have been required, by
such exchange or by order of the Commission or any other governmental authority, (ii) a banking
moratorium shall have been declared either by Federal or New York State authorities or (iii) there
shall have occurred any new outbreak or escalation of hostilities, declaration by the United States
of a national emergency or war or other calamity or crisis the effect of which on financial markets
of the United States is such as to make it, in the judgment of the Representatives, impracticable
or inadvisable to proceed with the offering or delivery of a series of Securities as contemplated
by the Disclosure Package and the Final Offering Memorandum

 

22

(exclusive of any amendment or supplement thereto). If this Agreement is terminated pursuant
to this Section 10, such termination shall be without liability of any party to any other party,
except to the extent provided in Sections 5 and 7.

          11. Representations and Indemnities to Survive. The respective agreements,
representations, warranties, indemnities and other statements of the Company, TW NY or TWE or any
of their respective officers and of the Purchasers set forth in or made pursuant to this Agreement
will remain in full force and effect, regardless of any investigation made by or on behalf of any
Purchaser or the Company, TW NY or TWE, or any of the officers, directors or controlling persons
referred to in Section 8 hereof, and will survive delivery of and payment for the Securities. The
provisions of Sections 7 and 8 hereof shall survive the termination or cancellation of this
Agreement.

          12. Notices. All communications hereunder will be in writing and effective only on
receipt, and, (i) if sent to the Representatives, will be mailed, delivered or telefaxed to and
confirmed to them at Citigroup Global Markets Inc., 388 Greenwich St., New York, NY 10013 – Fax
(212) 816-7912 – Attention: General Counsel; ABN AMRO Incorporated, Park Avenue Plaza, 55 East 52nd
Street, New York, NY 10055 – Attention: Legal Department; Deutsche Bank Securities Inc., 60 Wall
Street, New York, NY 10005 – Fax (212) 797-2202 – Attention: Debt Capital Markets; and Wachovia
Capital Markets, LLC, One Wachovia Center, DC-6 (NC0613), 301 South College Street, Charlotte, NC
28288-0602 – Fax (704) 383-0661- Attention: Syndicate Department; or, (ii) if sent to the Company,
TW NY or TWE, will be mailed, delivered or telefaxed to (203) 328-4094 and confirmed to it at 290
Harbor Drive, Stamford, Connecticut 06902-7441 – Attention: General Counsel.

          13. Successors. This Agreement will inure to the benefit of and be binding upon the
parties hereto and their respective successors and the officers and directors and controlling
persons referred to in Section 8 hereof, and no other person will have any right or obligation
hereunder.

          14. Third Party Beneficiaries. This Agreement constitutes an agreement solely among
the parties hereto, and, except as expressly provided in the last sentence of Section 8(d), is not
intended to and shall not confer any rights, remedies, obligations or liabilities, legal or
equitable, on any person other than the parties hereto and their successors or assigns or otherwise
constitute any person a third party beneficiary under or by reason of this Agreement.

          15.
Applicable Law. This Agreement will be governed by and construed in accordance
with the laws of the State of New York.

          16. Counterparts. This Agreement may be signed in any number of counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.

          17. No Fiduciary Duty. Each of the Company, TW NY and TWE hereby acknowledges that
(a) the purchase and sale of the Securities pursuant to this Agreement is an arm’s-length
commercial transaction between the Company, TW NY and

 

23

TWE on the one hand, and the Purchasers and any affiliate through which any such Purchaser may
be acting, on the other, (b) the Purchasers are acting as principal and not as an agent or
fiduciary of the Company, TW NY and TWE and (c) each of the Company’s, TW NY’s and TWE’s engagement
of the Purchasers in connection with the offering and the process leading up to the offering is as
independent contractors and not in any other capacity. Furthermore, each of the Company, TW NY and
TWE agrees that it is solely responsible for making its own judgments in connection with the
offering (irrespective of whether any of the Purchasers has advised or is currently advising the
Company on related or other matters). Each of the Company, TW NY and TWE agrees that it will not
claim that the Purchasers have rendered advisory services of any nature or respect, or owe an
agency, fiduciary or similar duty to the Company, TW NY or TWE , in connection with such
transaction or the process leading thereto.

          18. Integration. This Agreement supersedes all prior agreements and understandings
(whether written or oral) between the Company, TW NY, TWE and the Purchasers, or any of them, with
respect to the subject matter hereof.

          19. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof.

          20. Definitions. The terms which follow, when used in this Agreement, shall have the
meanings indicated.

     “Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations
of the Commission promulgated thereunder.

     “Business Day” shall mean any day on which the New York Stock Exchange is open for
trading.

     “Closing Date” shall mean April 9, 2007, which date and time may be postponed to a
date not later than five Business Days after such specified date by agreement between the
Representatives, acting jointly and without regard to any agreement among the Purchasers
and the Company.

     “Commission” shall mean the U.S. Securities and Exchange Commission.

     “Company Free Writing Communication” shall mean a Free Writing Communication prepared
by or on behalf of the Company, used or referred to by the Company or containing a
description of the final terms of the Securities or of their offering, in the form retained
in the Company’s records and in each case approved by the Company for use.

     “Disclosure Package” shall mean (i) the Preliminary Offering Memorandum, as amended
and supplemented to the Execution Time, (ii) the Company Free Writing Communications, if
any, identified on Schedules II, III and IV hereto and (iii) any other Free Writing
Communications that each of the parties hereto shall hereafter expressly agree in writing
to treat as part of the Disclosure Package and listed on Schedule V hereto.

 

24

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission promulgated thereunder.

     “Execution Time” shall mean the date and time that this Agreement is executed and
delivered by the parties hereto.

     “Free Writing Communication” shall mean a written communication (as such term is
defined in Rule 405 under the Act) that constitutes an offer to sell or a solicitation of
an offer to buy the Securities and is made by means other than the Preliminary Offering
Memorandum or the Final Offering Memorandum.

     “Rule 158”, “ Rule 163”, “Rule 164”, “Rule 172”, “Rule 405”, “Rule 424”, “Rule 430B”
and “Rule 433” refer to such rules or regulations under the Act.

     “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the
rules and regulations of the Commission promulgated thereunder.

 

25

     If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall
represent a binding agreement among the Company, TW NY, TWE and the several Purchasers.

	 	 	 	 	 
	 	Very truly yours,

TIME WARNER CABLE INC.,

 	 
	 	By:  	/s/ John K. Martin
 	 
	 	 	Name:  	John K. Martin 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 
	 	TW NY CABLE HOLDING INC.,

 	 
	 	By:  	/s/ John K. Martin
 	 
	 	 	Name:  	John K. Martin 	 
	 	 	Title:  	Executive Vice President and Treasurer	 
	 
	 	TIME WARNER ENTERTAINMENT COMPANY, L.P.

 	 
	 	By:  	/s/ John K. Martin
 	 
	 	 	Name:  	John K. Martin 	 
	 	 	Title:  	Executive Vice President and Chief

Financial Officer 	 

Signature
Page: Purchase Agreement

 

26

	 	 	 	 	 

The foregoing Agreement is
hereby confirmed and accepted
as of the date specified in
Schedule I hereto.

	 	 	 	 	 
	CITIGROUP GLOBAL MARKETS INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Brian Bednarski
 

Name: Brian Bednarski
	 	 
	 

	 	Title: Director	 	 
	 
	 	 	 	 
	ABN
AMRO INCORPORATED
	 	 
	 
	 	 	 	 
	By:

	 	/s/ Paul Hatton
 

Name: Paul Hatton
	 	 
	 

	 	Title: Managing Director, Debt Capital Markets	 	 
	 
	 	 	 	 
	DEUTSCHE BANK SECURITIES INC.
	 	 
	 
	 	 	 	 
	By:

	 	/s/ R. Scott Flieger
 

Name: R. Scott Flieger
	 	 
	 

	 	Title: Managing Director	 	 
	 
	 	 	 	 
	By:

	 	/s/ Ritu Ketkar
 

Name: Ritu Ketkar
	 	 
	 

	 	Title: Director	 	 
	 
	 	 	 	 
	WACHOVIA CAPITAL MARKETS, LLC
	 	 
	 
	 	 	 	 
	By:

	 	/s/ Jim Stenson
 

Name: Jim Stenson
	 	 
	 

	 	Title: Managing Director	 	 
	 
	 	 	 	 

For themselves and the other
several Purchasers, if any,
named in Schedule I to the
foregoing Agreement.

Signature
Page: Purchase Agreement

 

27

SCHEDULE I

A. 5.40 % Notes Due 2012

	 	 	 	 	 
	 	 	Principal Amount	 
	Purchasers	 	to be Purchased	 
	ABN AMRO Incorporated
	 	$	262,500,000	 
	Citigroup Global Markets Inc.
	 	$	262,500,000	 
	Deutsche Bank Securities Inc.
	 	$	262,500,000	 
	Wachovia Capital Markets, LLC
	 	$	262,500,000	 
	Banc of America Securities LLC
	 	$	24,600,000	 
	Barclays Capital Inc.
	 	$	24,600,000	 
	BNP Paribas Securities Corp.
	 	$	24,600,000	 
	Calyon Securities (USA) Inc.
	 	$	24,600,000	 
	Daiwa Securities SMBC Europe Limited
	 	$	24,600,000	 
	Dresdner Kleinwort Securities LLC
	 	$	24,600,000	 
	Greenwich Capital Markets, Inc.
	 	$	24,600,000	 
	HSBC Securities (USA) Inc.
	 	$	24,600,000	 
	Mitsubishi UFJ Securities International plc
	 	$	24,600,000	 
	Mizuho Securities USA Inc.
	 	$	24,600,000	 
	Scotia Capital (USA) Inc.
	 	$	24,600,000	 
	Bear, Stearns & Co. Inc.
	 	$	13,800,000	 
	BMO Capital Markets Corp.
	 	$	13,800,000	 
	Credit Suisse Securities (USA) LLC
	 	$	13,800,000	 
	Fortis Securities LLC
	 	$	13,800,000	 
	Goldman, Sachs & Co.
	 	$	13,800,000	 
	Guzman & Company
	 	$	13,800,000	 
	J.P. Morgan Securities Inc.
	 	$	13,800,000	 
	Lehman Brothers Inc.
	 	$	13,800,000	 
	Lloyds TSB Bank plc
	 	$	13,800,000	 
	Merrill Lynch, Pierce, Fenner & Smith Incorporated
Incorporated
	 	$	13,800,000	 
	Morgan Stanley & Co. Incorporated
	 	$	13,800,000	 
	Utendahl Capital Group LLC
	 	$	13,800,000	 
	The Williams Capital Group, L.P.
	 	$	13,800,000	 
	 
	 	 	 
	Total
	 	$	1,500,000,000	 

 

28

SCHEDULE I

B. 5.85 % Notes Due 2017

	 	 	 	 	 
	 	 	Principal Amount	 
	Purchasers	 	to be Purchased	 
	ABN AMRO Incorporated
	 	$	350,000,000	 
	Citigroup Global Markets Inc.
	 	$	350,000,000	 
	Deutsche Bank Securities Inc.
	 	$	350,000,000	 
	Wachovia Capital Markets, LLC
	 	$	350,000,000	 
	Banc of America Securities LLC
	 	$	33,600,000	 
	Barclays Capital Inc.
	 	$	33,600,000	 
	BNP Paribas Securities Corp.
	 	$	33,600,000	 
	Calyon Securities (USA) Inc.
	 	$	33,600,000	 
	Daiwa Securities SMBC Europe Limited
	 	$	33,600,000	 
	Dresdner Kleinwort Securities LLC
	 	$	33,600,000	 
	Greenwich Capital Markets, Inc.
	 	$	33,600,000	 
	HSBC Securities (USA) Inc.
	 	$	33,600,000	 
	Mitsubishi UFJ Securities International plc
	 	$	33,600,000	 
	Mizuho Securities USA Inc.
	 	$	33,600,000	 
	Scotia Capital (USA) Inc.
	 	$	33,600,000	 
	Bear, Stearns & Co. Inc.
	 	$	19,200,000	 
	BMO Capital Markets Corp.
	 	$	19,200,000	 
	Credit Suisse Securities (USA) LLC
	 	$	19,200,000	 
	Fortis Securities LLC
	 	$	19,200,000	 
	Goldman, Sachs & Co.
	 	$	19,200,000	 
	Guzman & Company
	 	$	19,200,000	 
	J.P. Morgan Securities Inc.
	 	$	19,200,000	 
	Lehman Brothers Inc.
	 	$	19,200,000	 
	Lloyds TSB Bank plc
	 	$	19,200,000	 
	Merrill Lynch, Pierce, Fenner & Smith Incorporated
Incorporated
	 	 	—	 
	Morgan Stanley & Co. Incorporated
	 	$	19,200,000	 
	Utendahl Capital Group LLC
	 	$	19,200,000	 
	The Williams Capital Group, L.P.
	 	$	19,200,000	 
	 
	 	 	 
	Total
	 	$	2,000,000,000	 

 

29

SCHEDULE I

C. 6.55 % Debentures Due 2037

	 	 	 	 	 
	 	 	Principal Amount	 
	Purchasers	 	to be Purchased	 
	ABN AMRO Incorporated
	 	$	262,500,000	 
	Citigroup Global Markets Inc.
	 	$	262,500,000	 
	Deutsche Bank Securities Inc.
	 	$	262,500,000	 
	Wachovia Capital Markets, LLC
	 	$	262,500,000	 
	Banc of America Securities LLC
	 	$	25,200,000	 
	Barclays Capital Inc.
	 	$	25,200,000	 
	BNP Paribas Securities Corp.
	 	$	25,200,000	 
	Calyon Securities (USA) Inc.
	 	$	25,200,000	 
	Daiwa Securities SMBC Europe Limited
	 	$	25,200,000	 
	Dresdner Kleinwort Securities LLC
	 	$	25,200,000	 
	Greenwich Capital Markets, Inc.
	 	$	25,200,000	 
	HSBC Securities (USA) Inc.
	 	$	25,200,000	 
	Mitsubishi UFJ Securities International plc
	 	$	25,200,000	 
	Mizuho Securities USA Inc.
	 	$	25,200,000	 
	Scotia Capital (USA) Inc.
	 	$	25,200,000	 
	Bear, Stearns & Co. Inc.
	 	$	14,400,000	 
	BMO Capital Markets Corp.
	 	$	14,400,000	 
	Credit Suisse Securities (USA) LLC
	 	$	14,400,000	 
	Fortis Securities LLC
	 	$	14,400,000	 
	Goldman, Sachs & Co.
	 	$	14,400,000	 
	Guzman & Company
	 	$	14,400,000	 
	J.P. Morgan Securities Inc.
	 	$	14,400,000	 
	Lehman Brothers Inc.
	 	$	14,400,000	 
	Lloyds TSB Bank plc
	 	$	14,400,000	 
	Merrill Lynch, Pierce, Fenner & Smith Incorporated
Incorporated
	 	 	—	 
	Morgan Stanley & Co. Incorporated
	 	$	14,400,000	 
	Utendahl Capital Group LLC
	 	$	14,400,000	 
	The Williams Capital Group, L.P.
	 	$	14,400,000	 
	 
	 	 	 
	Total
	 	$	1,500,000,000	 

 

30

SCHEDULE II

COMPANY FREE WRITING COMMUNICATION

TIME WARNER CABLE INC.

FINAL TERM SHEET

Dated: April 4, 2007

	 	 	 	 	 
	Issuer:

	 	Time Warner Cable Inc. (the “Issuer”)

	 
	 	 	 	 
	Guarantors:

	 	TW NY Cable Holding Inc.

Time Warner Entertainment Company, L.P.

	 
	 	 	 	 
	Security:

	 	5.400% Notes due 2012

	 
	 	 	 	 
	Size:

	 	$1,500,000,000		 
	 
	 	 	 	 
	CUSIP/ISIN Numbers:

	 	144A: 88732J AA6 / US88732JAA60

	 

	 	REG S: U88722 AA8 / USU88722AA86

	 
	 	 	 	 
	Maturity:

	 	July 2, 2012

	 
	 	 	 	 
	Coupon (Interest Rate):

	 	5.400%	 	
	 
	 	 	 	 
	Yield to Maturity:

	 	5.443%	 	
	 
	 	 	 	 
	Spread to Benchmark Treasury:

	 	T + 89 basis points

	 
	 	 	 	 
	Benchmark Treasury:

	 	4.500% due March 2012

	 
	 	 	 	 
	Benchmark Treasury Yield:

	 	4.553%	 	
	 
	 	 	 	 
	Interest Accrual Date:

	 	From April 9, 2007

	 
	 	 	 	 
	Interest Payment Dates:

	 	January 2 and July 2, commencing on July 2, 2007

	 
	 	 	 	 
	Redemption Provision:

	 	Redeemable at any time and from time to time at the option of the
Issuer, in whole or in part, at the greater of (i) 100% of principal
amount and (ii) the sum of the present values of the Remaining
Scheduled Payments discounted to the redemption date, on a
semi-annual basis, assuming a 360-day year consisting of twelve
30-day months, at the Treasury Rate plus 20 basis points

	 
	 	 	 	 
	Denominations:

	 	Minimum of $2,000 and integral multiples of $1,000 in excess of $2,000

	 
	 	 	 	 
	Price to Public:

	 	99.815%	 	
	 
	 	 	 	 
	Settlement Date:

	 	April 9, 2007

 

31

SCHEDULE III

COMPANY FREE WRITING COMMUNICATION

TIME WARNER CABLE INC.

FINAL TERM SHEET

Dated: April 4, 2007

	 	 	 	 	 
	Issuer:

	 	Time Warner Cable Inc. (the “Issuer”)

	 
	 	 	 	 
	Guarantors:

	 	TW NY Cable Holding Inc.

	 

	 	Time Warner Entertainment Company, L.P.

	 
	 	 	 	 
	Security:

	 	5.850% Notes due 2017

	 
	 	 	 	 
	Size:

	 	$2,000,000,000		 
	 
	 	 	 	 
	CUSIP/ISIN Numbers:

	 	144A: 88732J AC2 / US88732JAC27

	 

	 	REG S: U88722 AB6 / USU88722AB69

	 
	 	 	 	 
	Maturity:

	 	May 1, 2017

	 
	 	 	 	 
	Coupon (Interest Rate):

	 	5.850%		 
	 
	 	 	 	 
	Yield to Maturity:

	 	5.880%		 
	 
	 	 	 	 
	Spread to Benchmark Treasury:

	 	T + 124 basis points

	 
	 	 	 	 
	Benchmark Treasury:

	 	4.625% due February 2017

	 
	 	 	 	 
	Benchmark Treasury Yield:

	 	4.640%	 	
	 
	 	 	 	 
	Interest Accrual Date:

	 	From April 9, 2007

	 
	 	 	 	 
	Interest Payment Dates:

	 	May 1 and November 1, commencing on November 1, 2007

	 
	 	 	 	 
	Redemption Provision:

	 	Redeemable at any time and from time to time at the option of the
Issuer, in whole or in part, at the greater of (i) 100% of principal
amount and (ii) the sum of the present values of the Remaining
Scheduled Payments discounted to the redemption date, on a
semi-annual basis, assuming a 360-day year consisting of twelve
30-day months, at the Treasury Rate plus 30 basis points

	 
	 	 	 	 
	Denominations:

	 	Minimum of $2,000 and integral multiples of $1,000 in excess of $2,000

	 
	 	 	 	 
	Price to Public:

	 	99.769%	 	
	 
	 	 	 	 
	Settlement Date:

	 	April 9, 2007

 

32

SCHEDULE IV

COMPANY FREE WRITING COMMUNICATION

TIME WARNER CABLE INC.

FINAL TERM SHEET

Dated: April 4, 2007

	 	 	 	 	 
	Issuer:

	 	Time Warner Cable Inc. (the “Issuer”)

	 
	 	 	 	 
	Guarantors:

	 	TW NY Cable Holding Inc.

	 

	 	Time Warner Entertainment Company, L.P.

	 
	 	 	 	 
	Security:

	 	6.550% Debentures due 2037

	 
	 	 	 	 
	Size:

	 	$1,500,000,000		 
	 
	 	 	 	 
	CUSIP/ISIN Numbers:

	 	144A: 88732J AE8 / US88732JAE82

	 

	 	REG S: U88722 AC4 / USU88722AC43

	 
	 	 	 	 
	Maturity:

	 	May 1, 2037

	 
	 	 	 	 
	Coupon (Interest Rate):

	 	6.550%	 	
	 
	 	 	 	 
	Yield to Maturity:

	 	6.599%	 	
	 
	 	 	 	 
	Spread to Benchmark Treasury:

	 	T + 175 basis points

	 
	 	 	 	 
	Benchmark Treasury:

	 	4.500% due February 2036

	 
	 	 	 	 
	Benchmark Treasury Yield:

	 	4.849%	 	
	 
	 	 	 	 
	Interest Accrual Date:

	 	From April 9, 2007

	 
	 	 	 	 
	Interest Payment Dates:

	 	May 1 and November 1, commencing on November 1, 2007

	 
	 	 	 	 
	Redemption Provision:

	 	Redeemable at any time and from time to time at the
option of the Issuer, in whole or in part, at the
greater of (i) 100% of principal amount and (ii)
the sum of the present values of the Remaining
Scheduled Payments discounted to the redemption
date, on a semi-annual basis, assuming a 360-day
year consisting of twelve 30-day months, at the
Treasury Rate plus 35 basis points

	 
	 	 	 	 
	Denominations:

	 	Minimum of $2,000 and integral multiples of $1,000
in excess of $2,000

	 
	 	 	 	 
	Price to Public:

	 	99.356%	 	
	 
	 	 	 	 
	Settlement Date:

	 	April 9, 2007

 

33

SCHEDULE V

Any other Company Free Writing Communication, if any.

None.

 

34

EXHIBIT A

FORM OF OPINION OF DEPUTY GENERAL COUNSEL

	(i)	 	Each of the Company and TW NY has been duly incorporated and is validly existing as a
corporation and in good standing under the laws of the State of Delaware, with the corporate
power and authority to own its property and conduct its business as described in the
Disclosure Package and the Final Offering Memorandum and each of the Company and TW NY is duly
qualified to transact business as a foreign corporation and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property
requires such qualification, except to the extent that the failure to be so qualified or be in
good standing would not have a material adverse effect on the Company and its subsidiaries,
considered as one enterprise (a “Material Adverse Effect”).

	(ii)	 	TWE has been duly organized and is a limited partnership validly existing and in good
standing under the law of the State of Delaware, with the partnership power and authority to
own its property and conduct its business as described in the Disclosure Package and the Final
Offering Memorandum and TWE is duly qualified to transact business as a foreign limited
partnership and is in good standing in each jurisdiction in which the conduct of its business
or its ownership or leasing of property requires such qualification, except to the extent that
the failure to be so qualified or be in good standing would not have a Material Adverse
Effect.

	(iii)	 	Each of the Company’s significant subsidiaries, as such term is defined in Rule 1-02(w) of
Regulation S-X under the Securities Act of 1933, as amended (each, a “Significant
Non-Guarantor Subsidiary” and together, the “Significant Non-Guarantor Subsidiaries”), has
been duly incorporated or, in the case of partnerships or limited liability companies, duly
organized and is validly existing as a corporation, a partnership or a limited liability
company, as the case may be, in good standing under the laws of the jurisdiction of its
incorporation or organization, as the case may be, with the power and authority to own its
property and to conduct its business as described in the Disclosure Package and the Final
Offering Memorandum and is duly qualified to transact business as a foreign corporation,
partnership or limited liability company, as the case may be, and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property
requires such qualification, except to the extent that the failure to be so qualified or be in
good standing would not have a Material Adverse Effect.

	(iv)	 	Except as described in the Disclosure Package and the Final Offering Memorandum, the
Company’s authorized equity capitalization is as set forth in

 

35

	 	 	the Disclosure Package and the Final Offering Memorandum and all of the outstanding capital
stock or partnership interests, as the case may be, of the Guarantors is owned, directly or
indirectly, by the Company free and clear of all liens, encumbrances, equities or claims.

	(v)	 	Except as described in the Disclosure Package and the Final Offering Memorandum, all of the
partnership interests and membership interests in each Significant Non-Guarantor Subsidiary
that is a partnership or a limited liability company, as the case may be, are owned directly
or indirectly by the Company, free and clear of all liens, encumbrances or claims.

	(vi)	 	Except as set forth in the Disclosure Package and the Final Offering Memorandum, to such
counsel’s best knowledge, there is no pending or threatened action, suit or proceeding by or
before any court or governmental agency, authority or body or any arbitrator, involving the
Company, the Guarantors or any of its or their subsidiaries or any of their property that (i)
would have a material adverse effect on the consummation of the sale of the Debt Securities or
(ii) would have a Material Adverse Effect.

	(vii)	 	Each of this Agreement, the Registration Rights Agreement and the Indenture have been duly
authorized, executed and delivered by each of the Company, TW NY and TWE.

	(viii)	 	Based upon the representations, warranties and agreements of the Initial Purchasers in
Section 4 of this Agreement, the issuance and sale of the Debt Securities by the Company, the
issuance of the Guarantees by the Guarantors, the compliance by the Company and each Guarantor
with all of the provisions of this Agreement, the Registration Rights Agreement and the
Indenture and the performance of their obligations thereunder do not and will not violate (i)
any indenture, mortgage or loan agreement or any other agreement or instrument known to such
counsel to which the Company or any Guarantor is a party or by which any of them may be bound
or to which any of their properties may be subject (except for such conflicts, breaches or
defaults or liens, charges or encumbrances that would not have a Material Adverse Effect),
(ii) any existing applicable law, rule or regulation (except for such conflicts, breaches,
liens, charges or encumbrances that would not have a Material Adverse Effect and other than
the securities laws or blue sky laws of various jurisdictions) or (iii) any judgment, order or
decree of any government, governmental instrumentality or court having jurisdiction over the
Company or any Guarantor or any of their properties (except for such conflicts, breaches,
liens, charges or encumbrances that would not have a Material Adverse Effect).

	(ix)	 	Based upon the representations, warranties and agreements of the Initial Purchasers in
Section 4 of this Agreement, no consent, approval, authorization or order of, or filing,
registration or qualification with, any Governmental Authority, which has not been obtained,
taken or made is required by the Company and the

 

36

	 	 	Guarantors under any Applicable Law for the issuance or sale of the Debt Securities or the
performance by the Company and the Guarantors of their obligations under this Agreement,
the Registration Rights Agreement and the Indenture except as may be required under the
Exchange Act and in connection with the registration of the Debt Securities (including the
Guarantees) and the Exchange Notes (including the Exchange Guarantees) under the
Registration Rights Agreement. For purposes of this opinion, the term “Governmental
Authority” means any executive, legislative, judicial, administrative or regulatory body of
the State of New York, the State of Delaware or the United States of America.

As Senior Vice President and Deputy General Counsel of the Company, such counsel has reviewed and
participated in the preparation of the Disclosure Package and the Final Offering Memorandum,
including the documents incorporated by reference therein (except for the financial statements and
other information of a financial or statistical nature of Adelphia Communications Corporation
(“Adelphia”) and Comcast Corporation, including the financial statements of Adelphia and the
Special-Purpose Combined Carve-out Financial Statements of the Los Angeles, Dallas & Cleveland
Cable System Operations (A Carve-Out of Comcast Corporation) that are incorporated by reference in
the Disclosure Package and the Final Offering Memorandum. In examining the Disclosure Package and
the Final Offering Memorandum, such counsel has necessarily assumed the correctness and
completeness of the statements made or included therein by the Company and the Guarantors,
including the documents incorporated by reference therein and takes no responsibility therefor.
However, in the course of the preparation by the Company and the Guarantors of the Disclosure
Package and the Final Offering Memorandum, such counsel has participated in conferences with
certain officers of, and accountants for, the Company and the Guarantors with respect thereto, and
such counsel’s examination of the Disclosure Package and the Final Offering Memorandum, including
the documents incorporated by reference therein and such counsel’s participation in the
above-mentioned conferences did not disclose any information which gave such counsel reason to
believe that: (i) as of 5:44 p.m. on April 4, 2007 (the “Applicable Time”), the Disclosure Package
(except for the financial statements, financial statement schedules and other financial data
included or incorporated by reference therein or omitted therefrom or from those documents
incorporated by reference, as to which such counsel expresses no such belief), contained an untrue
statement of a material fact or omitted to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading or
(ii) the Final Offering Memorandum as of its date or at the Closing Date (except for the financial
statements, financial statement schedules and other financial data included or incorporated by
reference therein or omitted therefrom or from those documents incorporated by reference, as to
which such counsel expresses no such belief) included an untrue statement of a material fact or
omitted to state a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading.

 

37

EXHIBIT B

FORM OF OPINION OF PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP

	1.	 	Each of the Company and TW NY has been duly incorporated and is validly existing and in good
standing under the laws of the State of Delaware. TWE is duly organized, validly existing as
a limited partnership and is in good standing under the laws of the State of Delaware.

	2.	 	Each of the Company and the Guarantors has all necessary corporate or partnership, power and
authority, as the case may be, to execute, deliver and perform its obligations under this
Agreement, the Registration Rights Agreement, the Indenture, the Debt Securities and the
Guarantees and to own and hold its properties and conduct its business as described in the
Final Offering Memorandum.

	3.	 	The Debt Securities have been duly authorized by the Company. The Debt Securities, when duly
issued and delivered by the Company against payment as provided in this Agreement, will
constitute valid and legally binding obligations of the Company entitled to the benefits of
the Indenture and the Registration Rights Agreement and enforceable against the Company in
accordance with their terms, except that enforceability of the Debt Securities may be subject
to bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting creditors’ rights generally and subject to general principles of equity
(regardless of whether enforceability is considered in a proceeding in equity or at law); and
the Debt Securities, when issued and delivered, will conform in all material respects to the
description contained in the Final Offering Memorandum under the caption “Description of the
Notes and the Guarantees.”

	4.	 	The Indenture has been duly authorized, executed and delivered by the Company and each
Guarantor. The Indenture is a valid and legally binding obligation of the Company and each
Guarantor, enforceable against the Company and each Guarantor in accordance with its terms,
except that enforceability of the Indenture may be subject to bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and subject to general principles of equity (regardless of whether
enforceability is considered in a proceeding in equity or at law); and the Indenture conforms
in all material respects to its description contained in the Final Offering Memorandum under
the caption “Description of the Notes and the Guarantees.” The Indenture conforms in all
material respects with the requirements of the Trust Indenture Act and the rules and
regulations of the Commission applicable to an indenture which is qualified under that Act.

	5.	 	This Agreement has been duly authorized, executed and delivered by the Company and each
Guarantor

 

38

	6.	 	The Registration Rights Agreement has been duly authorized, executed and delivered by the
Company and each Guarantor. The Registration Rights Agreement is a valid and legally binding
obligation of the Company and each Guarantor, enforceable against the Company and each
Guarantor in accordance with its terms, except that enforceability of the Registration Rights
Agreement may be subject to bankruptcy, insolvency, reorganization, fraudulent conveyance or
transfer, moratorium or similar laws affecting creditors’ rights generally and subject to
general principles of equity (regardless of whether enforceability is considered in a
proceeding in equity or at law) and except to the extent that the indemnification and
contribution provisions of the Registration Rights Agreement may be unenforceable; and the
Registration Rights Agreement conforms in all material respects to its description contained
in the Final Offering Memorandum under the caption “Exchange Offer; Registration Rights.”

	7.	 	Each Guarantor has duly authorized its guarantee of the Debt Securities (each, a
“Guarantee”). When the Debt Securities are duly issued and delivered by the Company against
payment as provided in this Agreement, the Guarantee of each Guarantor will be a valid and
legally binding obligation of each such Guarantor, enforceable against each such Guarantor in
accordance with its terms, except that enforceability of the Guarantee may be subject to
bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting creditors’ rights generally and subject to general principles of equity
(regardless of whether enforceability is considered in a proceeding in equity or at law); and
the Guarantees, when issued and delivered, will conform in all material respects to the
description contained in the Final Offering Memorandum under the caption “Description of the
Notes and the Guarantees.”

	8.	 	The Exchange Notes have been duly authorized by the Company, and when duly executed, issued
and delivered by the Company against payment as provided in the Indenture and the Registration
Rights Agreement, will constitute valid and legally binding obligations of the Company
entitled to the benefits of the Indenture and enforceable against the Company in accordance
with their terms, except that enforceability of the Exchange Notes may be subject to
bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting creditors’ rights generally and subject to general principles of equity
(regardless of whether enforceability is considered in a proceeding in equity or at law).

	9.	 	The Exchange Guarantees have been duly authorized by each Guarantor, and when the Exchange
Notes are duly executed, issued and delivered by the Company against payment as provided in
the Indenture and the Registration Rights Agreement, the Exchange Guarantees will be a valid
and legally binding obligation of each Guarantor, enforceable against each Guarantor in
accordance with its terms, except that enforceability of such guarantee may be subject to
bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting creditors’ rights generally and subject to general principles of equity
(regardless of whether enforceability is considered in a proceeding in equity or at law).

 

39

	10.	 	The statements in the Disclosure Package and the Final Offering Memorandum under the captions
“Description of the Debt Securities and the Guarantees” and “Exchange Offer; Registration
Rights” to the extent that they constitute summaries of United States federal statutes, rules
and regulations, or portions of them, are in each case accurate in all material respects. The
statements in the Disclosure Package and the Final Offering Memorandum under the heading
“Certain Material U.S. Federal Income Tax Consequences,” to the extent that they constitute
summaries of United States federal law or regulation or legal conclusions, have been reviewed
by us and fairly summarize the matters described under that heading in all material respects.

	11.	 	Based upon the representations, warranties and agreements of the Company and the Guarantors
in Section 1 (other than Section 1(r)) of this Agreement and of the Initial Purchasers in
Section 4 of this Agreement, it is not necessary in connection with the offer, sale and
delivery of the Debt Securities (including the Guarantees) to the Initial Purchasers under
this Agreement or in connection with the initial resale of the Debt Securities (including the
Guarantees) by the Initial Purchasers in accordance with this Agreement to register the Debt
Securities or the Guarantees under the Securities Act or to qualify the Indenture under the
Trust Indenture Act of 1939, as amended, it being understood that such counsel expresses no
opinion as to any subsequent resale of the Debt Securities (including the Guarantees).

	12.	 	Based upon the representations, warranties and agreements of the Company and the Guarantors
in Section 1 (other than Section 1(r)) of this Agreement and of the Initial Purchasers in
Section 4 of this Agreement, the issuance and sale of the Debt Securities by the Company, the
issuance of the Guarantees by the Guarantors, the compliance by the Company and each Guarantor
with all of the provisions of this Agreement, the Registration Rights Agreement, the
Indenture, the Debt Securities and the Guarantees and the performance of their obligations
thereunder will not (i) result in a violation of the Charter Documents, (ii) breach or result
in a default under any agreement, indenture or instrument listed as an exhibit to the
Company’s Annual Report on Form 10-K for the year ended December 31, 2006 or (iii) violate
Applicable Law or any judgment, order or decree of any court or arbitrator known to us,
except, in the case of clauses (ii) or (iii) above, where the breach, default or violation
could not reasonably be expected to have a material adverse effect on the Company and its
subsidiaries, taken as a whole. For purposes of this letter, the term “Applicable Law” means
the General Corporation Law of the State of Delaware (the “GCL”), the Revised Uniform Limited
Partnership Act of the State of Delaware (the “RULPA”), the Delaware Limited Liability Company
Act (the “DLLCA”) and those laws, rules and regulations of the United States of America and
the State of New York, in each case which in such counsel’s experience are normally applicable
to the transactions of the type contemplated by this Agreement, the Registration Rights
Agreement, the Indenture, the Debt Securities and the Guarantees, except that “Applicable Law”
does not include the anti-fraud provisions of the securities laws of any applicable
jurisdiction or any state securities or Blue Sky laws of the various states.

 

40

	13.	 	Based upon the representations, warranties and agreements of the Company and the Guarantors
in Section 1(r) of this Agreement and of the Initial Purchasers in Section 4 of this
Agreement, no consent, approval, authorization or order of, or filing, registration or
qualification with, any Governmental Authority, which has not been obtained, taken or made is
required by the Company and the Guarantors under any Applicable Law for the issuance or sale
of the Debt Securities and the Guarantees or the performance by the Company and the Guarantors
of their obligations under this Agreement, the Registration Rights Agreement and the
Indenture, except as may be required under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and in connection with the registration of the Debt Securities
(including the Guarantees) and the Exchange Notes (including the Exchange Guarantees) under
the Registration Rights Agreement. For purposes of this opinion, the term “Governmental
Authority” means any executive, legislative, judicial, administrative or regulatory body of
the State of New York, the State of Delaware or the United States of America.

	14.	 	The Company is not and, after giving effect to the offering and sale of the Debt Securities
will not be required to be registered as an investment company under the Investment Company
Act of 1940, as amended, and the rules and regulations of the Commission promulgated
thereunder.

	15.	 	Each document filed under the Exchange Act and incorporated by reference in the Disclosure
Package and the Final Offering Memorandum (except for financial statements, financial
statement schedules and other financial data included or incorporated by reference, in or
omitted from either of them, as to which such counsel expresses no opinion) appears on its
face to be appropriately responsive in all material respects when so filed to the requirements
of the Exchange Act and the rules and regulations under the Exchange Act.

 

EXECUTION
COPY

EXHIBIT C

FORM OF SIDE LETTER OF

PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP

In the course of acting as special counsel to the Company in connection with the offering of the
Debt Securities, such counsel has participated in conferences and telephone conversations with
officers and other representatives of the Company and the independent registered public accountants
for the Company during which conferences and conversations the contents of the Disclosure Package
(as defined below), the Final Offering Memorandum and related matters were discussed. Based upon
such participation (and relying as to factual matters on officers, employees and other
representatives of the Company and its subsidiaries), such counsel hereby advises you that our work
in connection with this matter did not disclose any information that gave such counsel reason to
believe that (i) as of 5:44 p.m. on April 4, 2007 (the “Applicable Time”), the Disclosure Package
(except for the financial statements, financial statement schedules and other financial data
included or incorporated by reference therein or omitted therefrom or from those documents
incorporated by reference, in each case, as to which such counsel expresses no such belief),
included an untrue statement of a material fact or omitted to state a material fact necessary in
order to make the statements therein, in the light of the circumstances under which they were made,
not misleading; or (ii) at the date the Final Offering Memorandum was issued or at the Closing
Date, the Final Offering Memorandum (except for the financial statements, financial statement
schedules and other financial data included or incorporated by reference therein or omitted
therefrom or from those documents incorporated by reference, as to which such counsel expresses no
such belief) included an untrue statement of a material fact or omitted to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. For purposes of this letter, the term “Disclosure Package” means
(i) the Preliminary Offering Memorandum and (ii) the Company Free Writing Communications identified
on Schedules II, III, IV and V to this Agreement.

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