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EXHIBIT 10.07  

 
 

FORM OF
  GUARANTY AGREEMENT    
    

        THIS GUARANTY is executed as of March 30, 2006, by the undersigned ("Guarantor"), for the benefit of BANK OF AMERICA, N.A., a national banking association
(in its capacity as Administrative Agent for the benefit of Lenders). 

RECITALS

        A.    Century
Cable Holdings, LLC, Ft. Myers Cablevision, LLC, and Highland Prestige Georgia, Inc. ("Restricted
Borrowers"), Bank of America, N.A., as Administrative Agent (including its permitted successors and assigns in such capacity, "Administrative
Agent"), and certain other Agents and Lenders (including their respective permitted successors and assigns, "Lenders") have
entered into a Credit Agreement, dated as of April 14, 2000 (as amended, modified, supplemented, or restated from time to time, the "Credit
Agreement"). 

        B.    On
June 25, 2002, certain of the Borrowers and their affiliates filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code in the
United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). 

        C.    Pursuant
to, and subject to the terms and conditions set forth in, that certain order of Judge Robert E. Gerber of the Bankruptcy Court entered May 26, 2005 (the
"Order") approving (i) certain settlement agreements by and among certain of the Borrowers, the SEC, the U.S. Department of Justice and certain
members of the Rigas family and (ii) the forfeiture of certain assets and interests owned by certain members of the Rigas family to certain of the Borrowers and their affiliates (the
"Forfeiture"), the undersigned has been ordered to guarantee the Guaranteed Debt (defined below) of the Borrowers under the Credit Agreement for the
benefit of the Lenders in accordance with the terms of the Order. 

        ACCORDINGLY,
for adequate and sufficient consideration, the receipt and adequacy of which are hereby acknowledged, Guarantor guarantees to Administrative Agent and Lenders the prompt
payment of the Guaranteed Debt as follows: 

        1.    DEFINITIONS.    Terms defined in the Credit Agreement have the same meanings when used, unless otherwise
defined, in this Guaranty. As used in this Guaranty: 

        Borrower means any Borrower (as defined in the Credit Agreement), any Borrower as a debtor-in-possession, and any
receiver, trustee, liquidator, conservator, custodian, or similar party appointed for any Borrower or for all or substantially all of any Borrower's assets under any Debtor Relief Law. 

        Credit Agreement is defined in the recitals to this Guaranty. 

        Guaranteed Debt means, collectively, (a) the Obligation and (b) all present and future costs, attorneys' fees, and expenses
reasonably incurred by Administrative Agent or any Lender to enforce any Borrower's, Guarantor's, or any other obligor's payment of any of the Guaranteed Debt, including, without limitation (to the
extent lawful), all present and future amounts that would become due but for the operation of §§ 502 or  506 or any other provision of
Title 11 of the United States Code and all present and future accrued and
unpaid interest (including, without limitation, all post-maturity interest and any post-petition interest in any proceeding under Debtor Relief Laws to which any Borrower or
Guarantor becomes subject). 

        Guarantor is defined in the preamble to this Guaranty. 

        Lender means, individually, or Lenders means, collectively, on any date of determination,
Administrative Agent and Lenders and their permitted successors and assigns. 

 

        2.    GUARANTY.    Subject to the terms and conditions set forth in the Order and other terms and conditions set forth
in this Agreement, this is an absolute, irrevocable, and continuing guaranty of
payment, not collection, and the circumstance that at any time or from time to time the Guaranteed Debt may be paid in full does not affect the obligation of Guarantor with respect to the Guaranteed
Debt incurred after that. This Guaranty remains in effect until the Guaranteed Debt is fully paid and performed, all LCs have expired or been terminated, and all Financial Hedges with any Lender or
Affiliate of any Lender have expired. Guarantor may not rescind or revoke its obligations with respect to the Guaranteed Debt. Notwithstanding any contrary provision, it is the intention of Guarantor,
Lenders, and Administrative Agent that the amount of the Guaranteed Debt guaranteed by Guarantor by this Guaranty shall be in, but not in excess of, the maximum amount permitted by fraudulent
conveyance, fraudulent transfer, or similar Laws applicable to Guarantor. Accordingly, notwithstanding anything to the contrary contained in this Guaranty or any other agreement or instrument executed
in connection with the payment of any of the Guaranteed Debt, the amount of the Guaranteed Debt guaranteed by Guarantor under this Guaranty shall be limited to an aggregate amount equal to the largest
amount that would not render Guarantor's obligations hereunder subject to avoidance under Section 548 of the United
States Bankruptcy Code or any comparable provision of any applicable state Law. 

        3.    CONSIDERATION.    Guarantor represents and warrants that its liability under this Guaranty may reasonably be
expected to directly or indirectly benefit it. 

        4.    CUMULATIVE RIGHTS.    If Guarantor becomes liable for any indebtedness owing by any Borrower to Administrative
Agent or any Lender, other than under this Guaranty, that liability may not be in any manner impaired or affected by this Guaranty. The Rights of Administrative Agent or Lenders under this Guaranty
are cumulative of any and all other Rights that Administrative Agent or Lenders may ever have against Guarantor. The exercise by Administrative Agent or Lenders of any Right under this Guaranty or
otherwise does not preclude the concurrent or subsequent exercise of any other Right. 

        5.    SUBROGATION AND CONTRIBUTION.    Until payment in full of the Guaranteed Debt and expiration of all Financial
Hedges between any Company and any Lender or any Affiliate of any Lender, (a) Guarantor may not assert, enforce, or otherwise exercise any Right of subrogation to any of the Rights or Liens of
Administrative Agent or Lenders or any other beneficiary against any Borrower or any other obligor on the Guaranteed Debt or any Collateral or other security or any Right of recourse, reimbursement,
subrogation, contribution, indemnification, or similar Right against any Borrower or any other obligor on any Guaranteed Debt or Guarantor of it, (b) Guarantor defers all of the foregoing
Rights (whether they arise in equity, under contract, by statute, under common Law, or otherwise), and (c) Guarantor defers the benefit of, and subordinates any Right to participate in, any
Collateral or other security given to Administrative Agent or Lenders or any other beneficiary to secure payment of any Guaranteed Debt. 

        6.    NO RELEASE.    Guarantor's obligations under this Guaranty may not be released, diminished, or affected by the
occurrence of any one or more of the following events: (a) any taking or accepting of any other security or assurance for any Guaranteed Debt; (b) any release, surrender, exchange,
subordination, impairment, or loss of any Collateral securing any Guaranteed Debt; (c) any full or partial release of the liability of any other obligor on the Obligation,  except for any final
release resulting from payment in full of such Obligation; (d) the modification of, or waiver of compliance with, any terms
of any other Loan Document; (e) the insolvency, bankruptcy, or lack of corporate or partnership power of any other obligor at any time liable for any Guaranteed Debt, whether now existing or
occurring in the future; (f) any renewal, extension, or rearrangement of any Guaranteed Debt or any adjustment, indulgence, forbearance, or compromise that may be granted or given by
Administrative Agent or any Lender to any other obligor on the Obligation; (g) any neglect, delay, omission, failure, or refusal of Administrative Agent or any Lender to take or prosecute any
action in 

2

 

connection
with the Guaranteed Debt or to foreclose, take, or prosecute any action in connection with any Loan Document; (h) any failure of Administrative Agent or any Lender to notify
Guarantor of any renewal, extension, or assignment of any Guaranteed Debt, or the release of any security or of any other action taken or refrained from being taken by Administrative Agent or any
Lender against any Borrower or any new agreement between Administrative Agent, any Lender, and any Borrower; it being understood that neither Administrative Agent nor any Lender is required to give
Guarantor any notice of any kind under any circumstances whatsoever with respect to or in connection with any Guaranteed Debt, other than any notice required to be given to Guarantor by Law or
elsewhere in this Guaranty; (i) the unenforceability of any Guaranteed Debt against any other obligor or any security securing same because it exceeds the amount permitted by Law, the act of
creating it is ultra vires, the officers creating it exceeded their authority or violated their fiduciary duties in connection with it, or otherwise; or
(j) any payment of the Obligation to Administrative Agent or any Lender is held to constitute a preference under any Debtor Relief Law or for any other reason Administrative Agent or any Lender
is required to refund that payment or make payment to someone else (and in each such instance this Guaranty will be reinstated in an amount equal to that payment). 

        7.    WAIVERS.    By execution hereof, and subject to the Order, Guarantor acknowledges and agrees to the waivers set
forth in Section 11.2 of the Credit Agreement. To the maximum extent lawful, Guarantor waives all Rights by which it might be entitled to require
suit on an accrued Right of action in respect of any Guaranteed Debt or require suit against any Borrower or others. 

        8.    COMMUNICATIONS ACT.    Notwithstanding any other provision of this Guaranty; any action taken or proposed to be
taken by Administrative Agent or any Lender under this Guaranty which would affect the operational, voting, or other control of any Borrower or Guarantor, shall be pursuant to  Section 310(d) of the
Communications Act of 1934 (as amended), applicable state Law, and the
applicable rules and regulations thereunder, and, if and to the extent required thereby, subject to the prior consent of the FCC or any applicable Franchisee. 

        9.    DEFAULT.    Without limiting the foregoing, the Administrative Agent, on behalf of all Lenders, acknowledges and
agrees that as of the date hereof, an Event of Default under the Credit Agreement
has occurred and is continuing and, notwithstanding the occurrence and continuation of such Event of Default, the rights and remedies of the Administrative Agent and the other Agents and Lenders under
the Credit Agreement, the other Loan Documents and this Agreement (and the ability of any of the foregoing Persons to exercise the same), shall be limited to the same extent that such rights and
remedies were limited by the orders of the Bankruptcy Court that were entered prior to the date hereof in respect of the ability of the Administrative Agent or any other Agent or Lender under the
Credit Agreement to exercise any rights or remedies granted to any of them pursuant to the terms of the Credit Agreement or any other Loan Document. 

        10.    LIMITATIONS.    Notwithstanding anything herein to the contrary, the right and obligations of the undersigned
and the Administrative Agent under this Guaranty Agreement shall be subject to the terms and conditions of (i) the Order and any other order entered by the Bankruptcy Court in connection with
the Forfeiture, (ii) the Settlement Agreements (as defined in the Order) and (iii) any agreement by and between the Debtors and the Administrative Agent. Furthermore, the obligations of
the undersigned herein shall constitute a pre-petition obligation of the undersigned. 

        11.    RECOURSE.    Notwithstanding anything herein to the contrary, the recourse of the Agents and the Lenders in
respect of the obligations of the undersigned herein is limited solely to the undersigned's equity interests in Highland Carlsbad Operating Subsidiary, Inc., Cablevision Business
Services, Inc., Desert Hot Springs Cablevision, Inc., Highland Carlsbad Cablevision, Inc., Highland Prestige Georgia, Inc. and Prestige Communications, Inc. 

        12.    LOAN DOCUMENT.    This Guaranty is a Loan Document and is subject to the applicable provisions of  Sections 1 and
13 of the Credit Agreement, including, without limitation, the provisions
 

3

 

relating
to GOVERNING LAW, JURISDICTION, VENUE, SERVICE OF PROCESS, AND WAIVER OF JURY TRIAL, all of which are incorporated into this Guaranty by
reference the same as if set forth in this Guaranty verbatim. 

        13.    NOTICES.    For purposes of Section 13.3 of the Credit
Agreement, Guarantor's address and telecopy number are as set forth next to Guarantor's signature on the signature page hereof. 

        14.    AMENDMENTS, ETC.    No amendment, waiver, or discharge to or under this Guaranty is valid unless it is in
writing and is signed by the party against whom it is sought to be enforced and is otherwise in conformity with the requirements of Section 13.10
of the Credit Agreement. 

        15.    ADMINISTRATIVE AGENT AND LENDERS.    Administrative Agent is Administrative Agent for each Lender under the
Credit Agreement. All Rights granted to Administrative Agent under or in
connection with this Guaranty are for each Lender's ratable benefit. Administrative Agent may, without the joinder of any Lender, exercise any Rights in Administrative Agent's or Lenders' favor under
or in connection with this Guaranty. Administrative Agent's and each Lender's Rights and obligations vis-a-vis each other may be
subject to one or more separate agreements between those parties. However, Guarantor is not required to inquire about any such agreement or is subject to any of its terms unless Guarantor specifically
joins such agreement. Therefore, neither Guarantor nor its successors or assigns is entitled to any benefits or provisions of any such separate agreement or is entitled to rely upon or raise as a
defense any party's failure or refusal to comply with the provisions of such agreement. 

        16.    PARTIES.    This Guaranty benefits Administrative Agent, Lenders, and their respective successors and assigns
and binds the Guarantor and its successors and assigns. Upon appointment of any successor Administrative Agent under the Credit Agreement, all of the Rights of Administrative Agent under this Guaranty
automatically vest in that new Administrative Agent as successor Administrative Agent on behalf of Lenders without any further act, deed, conveyance, or other formality other than that appointment.
The Rights of Administrative Agent and Lenders under this Guaranty may be transferred with any assignment of the Guaranteed Debt pursuant to and in accordance with the terms of the Credit Agreement.
The Credit Agreement contains provisions governing assignments of the Guaranteed Debt and of Rights and obligations under this Guaranty. 

Remainder of Page Intentionally Blank.

Signature Page(s) to Follow.

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        EXECUTED
as of the date first stated in this Guaranty. 

	 	 	GUARANTOR:
	

Address:

5619 DTC Parkway,

Greenwood Village, CO 80111	
 	

[GUARANTOR SIGNATURE BLOCK]

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EXHIBIT 10.08  

 
 

PLEDGE AGREEMENT    
    

        THIS PLEDGE AGREEMENT (this "Pledge Agreement") is executed as of March 30, 2006, by the undersigned
("Debtor"), whose address is 5619 DTC Parkway, Greenwood Village, CO 80111, and  BANK OF AMERICA, NA.,
a national banking association (in its capacity as "Administrative Agent" for the
benefit of the holders of the Obligation under the Credit Agreement defined below), as "Secured Party," whose address is 901 Main Street, 64th Floor, Dallas, Texas 75202. 

RECITALS 

        A.    Century
Cable Holdings, LLC, Ft. Myers Cablevision, LLC, and Highland Prestige Georgia, Inc. ("Restricted
Borrowers"), Administrative Agent (including its permitted successors and assigns in such capacity, "Administrative Agent"), and
certain other Agents and Lenders (including their respective permitted successors and assigns, "Lenders") have entered into a Credit Agreement, dated as of April 14, 2000 (as amended, modified,
supplemented, or restated from time to time, the "Credit Agreement"). 

        B.    On
June 25, 2002, certain of the Borrowers and their affiliates filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code in the
United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). 

        C.    Pursuant
to, and subject to the terms and conditions set forth in, that certain order of Judge Robert E. Gerber of the Bankruptcy Court entered May 26, 2005 (the
"Order") approving (i) certain settlement agreements by and among certain of the Borrowers, the SEC, the U.S. Department of Justice and certain
members of the Rigas family and (ii) the forfeiture of certain assets and interests owned by certain members of the Rigas family to certain of the Borrowers and their affiliates (the
"Forfeiture"), the Debtor has been ordered to grant to the Administrative Agent, for the benefit of the Agents and Lenders under the Credit Agreement,
certain equity interests owned by the undersigned in accordance with the Order. 

        ACCORDINGLY,
for valuable consideration, the receipt and adequacy of which are hereby acknowledged, Debtor and Secured Party hereby agree as follows: 

        1.    REFERENCE TO CREDIT AGREEMENT.    The terms, conditions, and provisions of the Credit Agreement shall continue
to be in full force and effect hereunder so long as Lenders are obligated to lend under the Credit Agreement and thereafter until the Obligation is paid and performed in full. 

        2.    CERTAIN DEFINITIONS.    Unless otherwise defined herein, or the context hereof otherwise requires, each term
defined in either of the Credit Agreement or in the UCC is used in this Pledge Agreement with the same meaning; provided that (a) if the definition
given to such term in the Credit Agreement conflicts with the definition given to such term in the UCC, the Credit Agreement definition shall control to the extent legally allowable; and (b) if
any definition given to such term in Chapter 9 of the UCC conflicts with the definition given to such term in any other chapter of the UCC, the  Chapter 9
definition shall prevail. As used herein, the following terms have the meanings indicated: 

        Collateral has the meaning set forth in Paragraph 4. 

        Lender means, individually, or Lenders means, collectively, on any date of determination,
Co-Administrative Agents and Lenders and their permitted successors and assigns. 

        Obligation means, collectively, (a) the "Obligation" as defined in the Credit
Agreement and (b) all indebtedness, liabilities, and obligations of Debtor arising under this Pledge Agreement or Guaranty assuring payment of the Obligation. The Obligation shall include,
without limitation, future, as well as existing, advances, indebtedness, liabilities, and obligations owed by Debtor to Secured Party or to any Lender arising under the Loan Documents. 

 

        Obligor means any Person obligated with respect to any of the Collateral, whether as an obligor on an instrument, issuer of securities, or
otherwise. 

        Partnership means any partnership issuing a Partnership Interest. 

        Pledged Securities means, collectively, the Pledged Shares, the Partnership Interests, LLC Interests (whether or not a security), and any
other Collateral constituting securities. 

        Security Interest means the security interest granted and the pledge and assignment made under  Paragraph 3. 

        UCC means the Uniform Commercial Code, including each such provision as it may subsequently be renumbered, as enacted in the State of New
York or other applicable jurisdiction, as amended at the time in question. 

        3.    SECURITY INTEREST.    In order to secure the full and complete payment and performance of the Obligation when
due, the Debtor, subject to the terms of the Order, hereby grants to Secured Party a Security Interest in all of such Debtor's Rights, titles, and interests in and to the Collateral and pledges,
collaterally transfers, and assigns the Collateral to Secured Party, all upon and subject to the terms and conditions of this Pledge Agreement. Such Security Interest is granted and pledge and
assignment are made as security only and shall not subject Secured Party to, or transfer or in any way affect or modify, any obligation of such Debtor with respect to any of the Collateral or any
transaction involving or giving rise thereto. 

        4.    COLLATERAL.    As used herein, the term "Collateral" means the
following items and types of property: 

        (a)   All
present and future issued and outstanding stock, equity, or other investment securities now owned or hereafter acquired by Debtor of the Restricted Subsidiaries of
Debtor listed on Annex B, together with all Distributions with respect thereto or other property in exchange therefore, all cash and noncash proceeds
thereof, and any securities issued in substitution or replacement thereof (collectively, the "Pledged Shares"). 

        (b)   All
present and future increase, profits, combinations, reclassifications, and substitutes and replacements for, all or part of the Collateral described above. 

        The
description of the Collateral contained in this Paragraph 4 shall not be deemed to permit any action prohibited by this Pledge
Agreement or by the terms incorporated in this Pledge Agreement. 

        5.    BINDING OBLIGATION.    This Pledge Agreement constitutes a legal, valid and binding obligation, enforceable
against the Debtor in accordance with the terms hereof. 

        6.    DEFAULT.    If a Default exists, Secured Party may, at its election (but subject to the terms and conditions of
the Credit Agreement), exercise any and all Rights available to a secured party under the UCC, in addition to any and all other Rights afforded by the Loan Documents, at Law, in equity, or otherwise,
including, without limitation, (a) applying by appropriate judicial proceedings for appointment of a receiver for all or part of the Collateral (and Debtor hereby consents to any such
appointment), and (b) applying to the Obligation any cash held by Secured Party under this Pledge Agreement, if any. Notwithstanding the foregoing, Secured Party will not exercise any remedies
against the Collateral unless it has given at least ten days written notification to Debtor, to the FCC, to the extent such notice is required under 47 C.F.R.
22.937(f), and to any other Governmental Authority, to the extent such notice is required by Law. Without limiting the foregoing, the Administrative Agent, on behalf of all
Lenders, acknowledges and agrees that as of the date hereof, an Event of Default under the Credit Agreement has occurred and is continuing and, notwithstanding the occurrence and continuation of such
Event of Default, the rights and remedies of the Administrative Agent and the other Agents and Lenders under the Credit Agreement, the other Loan Documents and this 

2

 

Agreement
(and the ability of any of the foregoing Persons to exercise the same), shall be limited to the same extent that such rights and remedies were limited by the United States Bankruptcy Code or
the orders of the Bankruptcy Court that were entered prior to the date hereof in respect of the ability of the Administrative Agent or any other Agent or Lender under the Credit Agreement to exercise
any rights or remedies granted to any of them pursuant to the terms of the Credit Agreement or any other Loan Document. 

        7.    LIMITATIONS.    Notwithstanding anything contrary herein or in the Credit Agreement, the right and obligations
of the Debtor and the Administrative Agent under this Agreement shall be subject to the terms and conditions of (i) the Order and any other order entered by the Bankruptcy Court in connection
with the Forfeiture, (ii) the Settlement Agreements (as defined in the Order) and (iii) any agreement by and between the Debtors and the Administrative Agent. Furthermore, the
obligations of the undersigned herein shall constitute a pre-petition obligation of the undersigned. 

        8.    MISCELLANEOUS.    

        (a)    Continuing Security Interest.    This Pledge Agreement creates a continuing security interest in the Collateral
and shall (i) remain in full force and effect until the payment in full of the Obligation, and the expiration of all LCs and Financial Hedges relating to the Principal Debt issued by any Lender
or any Affiliate of any Lender to Debtor or any Company; (ii) be binding upon Debtor, its successors, and assigns; and (iii) inure to the benefit of and be enforceable by Secured Party,
Lenders, and their respective successors, transferees, and assigns. Without limiting the generality of the foregoing  clause (iii), Secured Party and Lenders may
assign or otherwise transfer any of their respective Rights under this Pledge
Agreement to any other Person in accordance with the terms and provisions of  Section 13.12 of the Credit Agreement, and to the extent of such assignment or transfer such Person shall
thereupon become vested with all the
Rights and benefits in respect thereof granted herein or otherwise to Secured Party or Lenders, as the case may be. Upon payment in full of the Obligation and the expiration of all LCs or Financial
Hedges relating to the Principal Debt issued by any Lender or any Affiliate of any Lender to Debtor or any Company, Debtor shall be entitled to the return, upon its request and at its expense, of such
of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof. 

        (b)    Reference to Miscellaneous Provisions.    All provisions relating to Loan Documents set forth in  Section 13 of
the Credit Agreement, other than the provisions set forth in  Section 13.6, are incorporated herein by reference, the same as if set forth herein verbatim.

        (c)    Term.    Upon full and final payment and performance of the Obligation or other release of Debtor from the
obligations hereunder as expressly permitted by the Credit Agreement, this Pledge Agreement shall thereafter terminate upon receipt by Secured Party of Debtor's written notice of such termination;  provided that no Obligor, if any, on any of the Collateral shall ever be obligated to make inquiry as to the termination of this Pledge Agreement, but
shall be fully protected in making payment directly to Secured Party until actual notice of such total payment of the Obligation is received by such Obligor. 

        (d)    Waivers.    Except to the extent expressly otherwise provided herein or in other Loan Documents and to the
fullest extent permitted by applicable Law, Debtor waives (i) any Right to require Secured Party or any Lender to proceed against any other Person, to exhaust its Rights in Collateral, or to
pursue any other Right which Secured Party or any Lender may have; (ii) with respect to the Obligation, presentment and demand for payment, protest, notice of protest and nonpayment, and notice
of the intention to accelerate; and (iii) all Rights of marshaling in respect of any and all of the Collateral. 

3

 

        (e)    Financing Statement.    Secured Party shall be entitled at any time to file this Pledge Agreement or a carbon,
photographic, or other reproduction of this Pledge Agreement, as a financing statement, but the failure of Secured Party to do so shall not impair the validity or enforceability of this Pledge
Agreement. 

        (f)    Actions Not Releases.    The Security Interest and Debtor's obligations and Secured Party's Rights hereunder
shall not be released, diminished, impaired, or adversely affected by the occurrence of any one or more of the following events: (i) the taking or accepting of any other security or assurance
for any or all of the Obligation; (ii) any release, surrender, exchange, subordination, or loss of any security or assurance at any time existing in connection with any or all of the
Obligation; (iii) the modification of, amendment to, or waiver of compliance with any terms of any of the other Loan Documents without the notification or consent of Debtor, except as required
therein (the Right to such notification or consent being herein specifically waived by Debtor); (iv) the insolvency, bankruptcy, or lack of
corporate or trust power of any party at any time liable for the payment of any or all of the Obligation, whether now existing or hereafter occurring; (v) any renewal, extension, or
rearrangement of the payment of any or all of the Obligation, either with or without notice to or consent of Debtor, or any adjustment, indulgence, forbearance, or compromise that may be granted or
given by Secured Party or any Lender to Debtor; (vi) any neglect, delay, omission, failure, or refusal of Secured Party or any Lender to take or prosecute any action in connection with any
other agreement, document, guaranty, or instrument evidencing, securing, or assuring the payment of all or any of the Obligation; (vii) any failure of Secured Party or any Lender to notify
Debtor of any renewal, extension, or assignment of the Obligation or any part thereof, or the release of any Collateral or other security, or of any other action taken or refrained from being taken by
Secured Party or any Lender against Debtor or any new agreement between or among Secured Party or one or more Lenders and Debtor, it being understood that except as expressly provided herein, neither
Secured Party nor any Lender shall be required to give Debtor any notice of any kind under any circumstances whatsoever with respect to or in connection with the Obligation, including, without
limitation, notice of acceptance of this Pledge Agreement or any Collateral ever delivered to or for the account of Secured Party hereunder; (viii) the illegality, invalidity, or
unenforceability of all or any part of the Obligation against any party obligated with respect thereto by reason of the fact that the Obligation, or the interest paid or payable with respect thereto,
exceeds the amount permitted by Law, the act of creating the Obligation, or any part thereof, is ultra vires, or the officers, partners, or trustees
creating same acted in excess of their authority, or for any other reason; or (ix) if any payment by any party obligated with respect thereto is held to constitute a preference under applicable
Laws or for any other reason Secured Party or any Lender is required to refund such payment or pay the amount thereof to someone else. 

        (g)    Amendments.    No amendment, waiver, or discharge to or under this Pledge Agreement is valid unless it is in
writing and is signed by the party against whom it is sought to be enforced and is otherwise in conformity with the requirements of Section 13.10
of the Credit Agreement. 

        (h)    Multiple Counterparts.    This Pledge Agreement has been executed in a number of identical counterparts, each
of which shall be deemed an original for all purposes and all of which constitute, collectively, one agreement; but, in making proof of this Pledge Agreement, it shall not be necessary to produce or
account for more than one such counterpart. 

        (i)    Parties Bound; Assignment.    This Pledge Agreement shall be binding on Debtor and Debtor's heirs, legal
representatives, successors, and assigns and shall inure to the benefit of Secured Party and Secured Party's successors and assigns. 

4

 

          (i)  Secured
Party is the agent for each Lender under the Credit Agreement, the Security Interest and all Rights granted to Secured Party hereunder or in connection herewith
are for the ratable benefit of each Lender, and Secured Party may, without the joinder of any Lender, exercise any and all Rights in favor of Secured Party or Lenders hereunder, including, without
limitation, conducting any foreclosure sales hereunder, and executing full or partial releases hereof, amendments or modifications hereto, or
consents or waivers hereunder. The Rights of each Lender vis-a-vis Secured Party and each other Lender may be subject to one or
more separate agreements between or among such parties, but Debtor need not inquire about any such agreement or be subject to any terms thereof unless Debtor specifically joins therein; and
consequently, neither Debtor nor Debtor's heirs, personal representatives, successors, and assigns shall be entitled to any benefits or provisions of any such separate agreements or be entitled to
rely upon or raise as a defense, in any manner whatsoever, the failure or refusal of any party thereto to comply with the provisions thereof. 

         (ii)  Debtor
may not, without the prior written consent of Secured Party, assign any Rights, duties, or obligations hereunder. 

        (j)    Governing Law; Consent to Jurisdiction.    THIS AGREEMENT SHALL IN ALL RESPECTS BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE AND THE BANKRUPTCY CODE. The undersigned and the Administrative Agent (on
behalf of all Lenders) agrees that any action or claim arising out of, or any dispute in connection with, this Agreement, any rights, remedies, obligations, or duties hereunder, or the performance or
enforcement hereof or thereof, shall be brought before Judge Robert E. Gerber of the Bankruptcy Court. 

Remainder of Page Intentionally Blank

Signature Page(s) to Follow.  

5

 

        EXECUTE as of the day and year first herein set forth. 

	 	 	CENTURY MCE, LLC
	

 	
 	

By:	

Adelphia Cablevision, LLC, as its sole member
	

 	
 	

By:	

ACC Operations, Inc., as its sole member
	

 	
 	

By:	

/s/  VANESSA A. WITTMAN      
 Vanessa A. Wittman

Executive Vice President

and Chief Financial Officer

Signature Page to Pledge Agreement  

[Century Pledge Agreement Signature Page]

6

 

        EXECUTED
as of the day and year first herein set forth. 

BANK OF AMERICA, N.A.
  as Administrative Agent

	

By:	

	

 

Signature Page to Pledge Agreement  

7

 
ANNEX A TO PLEDGE AGREEMENT  

JURISDICTIONS FOR FILING FINANCING STATEMENTS  

	[	 	
	 	]

8

 
ANNEX B

PLEDGED SHARES  

100%
of the issued and outstanding capital stock of: 

	1.
	Highland
Carlsbad Operating Subsidiary, Inc.

	2.
	Cablevision
Business Services, Inc.

	3.
	Desert
Hot Springs Cablevision, Inc.

	4.
	Highland
Carlsbad Cablevision, Inc.

	5.
	Prestige
Communications, Inc.

	6.
	Highland
Prestige Georgia, Inc. 

9

QuickLinks

PLEDGE AGREEMENT

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