Document:

Indenture, dated as of March 13, 2012

 Exhibit 4.1 

 
  
 VIRGIN MEDIA FINANCE PLC, 
 as Issuer 

VIRGIN MEDIA INC., 

as Parent 
 VIRGIN
MEDIA GROUP LLC, 
 VIRGIN MEDIA HOLDINGS INC., 
 VIRGIN MEDIA (UK) GROUP, INC., 
 VIRGIN MEDIA COMMUNICATIONS LIMITED, 

as Intermediate Guarantors 
 VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED, 
 VIRGIN MEDIA INVESTMENTS LIMITED,

 as Senior Subordinated Subsidiary Guarantors 
 U.S. $500,000,000 aggregate principal amount of 
 5.25% Senior Notes due 2022

  
  

INDENTURE 
 Dated
as of March 13, 2012 
  
  

THE BANK OF NEW YORK MELLON, 
 as Trustee and Paying Agent 
 THE BANK OF NEW YORK MELLON (LUXEMBOURG) S.A.

 as Luxembourg Paying Agent 
  

 

 CROSS-REFERENCE TABLE* 

 

			
	Trust Indenture Act Section	  	Indenture Section
	 310(a)(1)
	  	7.10
	       (a)(2)
	  	7.10
	       (a)(3)
	  	N.A.
	       (a)(4)
	  	N.A.
	       (a)(5)
	  	7.03, 7.10
	       (b)
	  	7.10
	       (c)
	  	N.A.
	 311(a)
	  	7.11
	       (b)
	  	7.11
	       (c)
	  	N.A.
	 312(a)
	  	2.05
	       (b)
	  	13.03
	       (c)
	  	13.03
	 313(a)
	  	7.06
	       (b)(1)
	  	N.A.
	       (b)(2)
	  	7.06; 7.07
	       (c)
	  	7.06; 13.02
	       (d)
	  	7.06
	 314(a)
	  	4.03; 13.02; 13.05
	       (b)
	  	N.A.
	       (c)(1)
	  	13.04
	       (c)(2)
	  	13.04
	       (c)(3)
	  	N.A.
	       (d)
	  	N.A.
	       (e)
	  	13.05
	       (f)
	  	N.A.
	 315(a)
	  	7.01
	       (b)
	  	7.05; 13.02
	       (c)
	  	7.01
	       (d)
	  	7.01
	       (e)
	  	6.11
	 316(a) (last sentence)
	  	2.09
	       (a)(1)(A)
	  	6.05
	       (a)(1)(B)
	  	6.04
	       (a)(2)
	  	N.A.
	       (b)
	  	6.07
	       (c)
	  	2.12
	 317(a)(1)
	  	6.08
	       (a)(2)
	  	6.09
	       (b)
	  	2.04
	 318(a)
	  	13.01
	       (b)
	  	N.A.
	       (c)
	  	13.01

 N.A. means not applicable. 
  

	*	This Cross Reference Table is not part of this Indenture. 

  
 i 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
			
	 Section 1.01
	  	 Definitions
	  	 	1	  
	 Section 1.02
	  	 Other Definitions
	  	 	30	  
	 Section 1.03
	  	 Incorporation by Reference of Trust Indenture Act
	  	 	31	  
	 Section 1.04
	  	 Rules of Construction
	  	 	31	  
		
	 ARTICLE 2 THE NOTES
	  	 	32	  
			
	 Section 2.01
	  	 Form and Dating
	  	 	32	  
	 Section 2.02
	  	 Execution and Authentication
	  	 	32	  
	 Section 2.03
	  	 Registrar and Paying Agent
	  	 	33	  
	 Section 2.04
	  	 Paying Agent to Hold Money in Trust
	  	 	33	  
	 Section 2.05
	  	 Holder Lists
	  	 	33	  
	 Section 2.06
	  	 Transfer and Exchange
	  	 	34	  
	 Section 2.07
	  	 Replacement Notes
	  	 	37	  
	 Section 2.08
	  	 Outstanding Notes
	  	 	37	  
	 Section 2.09
	  	 Treasury Notes
	  	 	38	  
	 Section 2.10
	  	 Temporary Notes
	  	 	39	  
	 Section 2.11
	  	 Cancellation
	  	 	39	  
	 Section 2.12
	  	 Defaulted Interest
	  	 	39	  
	 Section 2.13
	  	 Additional Amounts
	  	 	39	  
	 Section 2.14
	  	 Currency Indemnity
	  	 	41	  
		
	 ARTICLE 3 REDEMPTION AND PREPAYMENT
	  	 	42	  
			
	 Section 3.01
	  	 Notices to Trustee
	  	 	42	  
	 Section 3.02
	  	 Selection of Notes to Be Redeemed or Purchased
	  	 	42	  
	 Section 3.03
	  	 Notice of Redemption
	  	 	43	  
	 Section 3.04
	  	 Effect of Notice of Redemption
	  	 	43	  
	 Section 3.05
	  	 Deposit of Redemption or Purchase Price
	  	 	44	  
	 Section 3.06
	  	 Notes Redeemed or Purchased in Part
	  	 	44	  
	 Section 3.07
	  	 Optional Redemption with Make-Whole
	  	 	44	  
	 Section 3.08
	  	 Mandatory Redemption
	  	 	44	  
	 Section 3.09
	  	 Offer to Purchase by Application of Excess Proceeds
	  	 	45	  
	 Section 3.10
	  	 Redemption of Notes for Changes in Withholding Taxes
	  	 	46	  
		
	 ARTICLE 4 COVENANTS
	  	 	47	  
			
	 Section 4.01
	  	 Payment of Notes
	  	 	47	  
	 Section 4.02
	  	 Maintenance of Office or Agency
	  	 	47	  
	 Section 4.03
	  	 Ongoing Reporting
	  	 	48	  
	 Section 4.04
	  	 Compliance Certificates
	  	 	48	  
	 Section 4.05
	  	 Taxes
	  	 	48	  
	 Section 4.06
	  	 [Intentionally Omitted]
	  	 	49	  
	 Section 4.07
	  	 Restricted Payments
	  	 	49	  
	 Section 4.08
	  	 Restrictions on Distributions from Restricted Subsidiaries
	  	 	53	  
	 Section 4.09
	  	 Incurrence of Indebtedness
	  	 	55	  
	 Section 4.10
	  	 Sales of Assets and Subsidiary Stock
	  	 	58	  
	 Section 4.11
	  	 Transactions with Affiliates
	  	 	61	  
	 Section 4.12
	  	 Liens
	  	 	63	  

  
 ii 

							
	 Section 4.13
	  	 Business Activities
	  	 	63	  
	 Section 4.14
	  	 Corporate Existence
	  	 	63	  
	 Section 4.15
	  	 Offer to Repurchase Upon Change of Control
	  	 	64	  
	 Section 4.16
	  	 Sale/Leaseback Transactions
	  	 	66	  
	 Section 4.17
	  	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	66	  
	 Section 4.18
	  	 [Intentionally omitted]
	  	 	67	  
	 Section 4.19
	  	 Guarantees of Indebtedness by Restricted Subsidiaries
	  	 	67	  
	 Section 4.20
	  	 Anti-Layering
	  	 	68	  
	 Section 4.21
	  	 Further Instruments and Acts
	  	 	69	  
	 Section 4.22
	  	 Listing
	  	 	69	  
	 Section 4.23
	  	 Calculation of Sterling Denominated Restrictions
	  	 	69	  
	 Section 4.24
	  	 Covenant Suspension
	  	 	69	  
		
	 ARTICLE 5 SUCCESSORS
	  	 	70	  
			
	 Section 5.01
	  	 Merger, Consolidation, or Sale of Assets
	  	 	70	  
		
	 ARTICLE 6 DEFAULTS AND REMEDIES
	  	 	71	  
			
	 Section 6.01
	  	 Events of Default
	  	 	71	  
	 Section 6.02
	  	 Acceleration
	  	 	73	  
	 Section 6.03
	  	 Other Remedies
	  	 	74	  
	 Section 6.04
	  	 Waiver of Past Defaults
	  	 	74	  
	 Section 6.05
	  	 Control by Majority
	  	 	74	  
	 Section 6.06
	  	 Limitation on Suits
	  	 	74	  
	 Section 6.07
	  	 Rights of Holders to Receive Payment
	  	 	75	  
	 Section 6.08
	  	 Collection Suit by Trustee
	  	 	75	  
	 Section 6.09
	  	 Trustee May File Proofs of Claim
	  	 	75	  
	 Section 6.10
	  	 Priorities
	  	 	76	  
	 Section 6.11
	  	 Undertaking for Costs
	  	 	76	  
	 Section 6.12
	  	 Stay, Extension and Usury Laws
	  	 	76	  
		
	 ARTICLE 7 TRUSTEE
	  	 	77	  
			
	 Section 7.01
	  	 Duties of Trustee
	  	 	77	  
	 Section 7.02
	  	 Rights of Trustee
	  	 	78	  
	 Section 7.03
	  	 Individual Rights of Trustee
	  	 	80	  
	 Section 7.04
	  	 Trustee’s Disclaimer
	  	 	80	  
	 Section 7.05
	  	 Notice of Defaults
	  	 	80	  
	 Section 7.06
	  	 Reports by Trustee to Holders
	  	 	80	  
	 Section 7.07
	  	 Compensation and Indemnity
	  	 	81	  
	 Section 7.08
	  	 Replacement of Trustee
	  	 	82	  
	 Section 7.09
	  	 Successor Trustee by Merger, etc.
	  	 	82	  
	 Section 7.10
	  	 Eligibility; Disqualification
	  	 	83	  
	 Section 7.11
	  	 Preferential Collection of Claims Against Issuer
	  	 	83	  
		
	 ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	83	  
			
	 Section 8.01
	  	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	83	  
	 Section 8.02
	  	 Legal Defeasance and Discharge
	  	 	83	  
	 Section 8.03
	  	 Covenant Defeasance
	  	 	84	  
	 Section 8.04
	  	 Conditions to Legal Defeasance or Covenant Defeasance
	  	 	84	  
	 Section 8.05
	  	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	  	 	85	  
	 Section 8.06
	  	 Repayment to Issuer
	  	 	86	  
	 Section 8.07
	  	 Reinstatement
	  	 	86	  

  
 iii

							
	 ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	86	  
			
	 Section 9.01
	  	 Without Consent of Holders
	  	 	86	  
	 Section 9.02
	  	 With Consent of Holders
	  	 	88	  
	 Section 9.03
	  	 Compliance with Trust Indenture Act
	  	 	89	  
	 Section 9.04
	  	 Revocation and Effect of Consents
	  	 	89	  
	 Section 9.05
	  	 Notation on or Exchange of Notes
	  	 	89	  
	 Section 9.06
	  	 Trustee to Sign Amendments, etc.
	  	 	89	  
		
	 ARTICLE 10 SATISFACTION AND DISCHARGE
	  	 	90	  
			
	 Section 10.01
	  	 Satisfaction and Discharge
	  	 	90	  
	 Section 10.02
	  	 Application of Trust Money
	  	 	91	  
		
	 ARTICLE 11 GUARANTEES
	  	 	91	  
			
	 Section 11.01
	  	 Guarantees
	  	 	91	  
	 Section 11.02
	  	 Limitation on Liability
	  	 	93	  
	 Section 11.03
	  	 Successors and Assigns
	  	 	95	  
	 Section 11.04
	  	 No Waiver
	  	 	95	  
	 Section 11.05
	  	 Modification
	  	 	95	  
	 Section 11.06
	  	 Execution of Supplemental Indenture for Future Guarantors
	  	 	96	  
	 Section 11.07
	  	 Non-Impairment
	  	 	96	  
		
	 ARTICLE 12 SUBORDINATION OF THE SENIOR SUBORDINATED SUBSIDIARY GUARANTEES
	  	 	96	  
			
	 Section 12.01
	  	 Agreement To Subordinate
	  	 	96	  
	 Section 12.02
	  	 Rights of Trustee and Paying Agent
	  	 	97	  
	 Section 12.03
	  	 Trustee Entitled To Rely
	  	 	97	  
	 Section 12.04
	  	 Trustee To Effectuate Subordination
	  	 	97	  
	 Section 12.05
	  	 Reliance by Holders of Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors on Subordination
Provisions
	  	 	98	  
		
	 ARTICLE 13 MISCELLANEOUS
	  	 	98	  
			
	 Section 13.01
	  	 Trust Indenture Act Controls
	  	 	98	  
	 Section 13.02
	  	 Notices
	  	 	98	  
	 Section 13.03
	  	 Communication by Holders with Other Holders
	  	 	99	  
	 Section 13.04
	  	 Certificate and Opinion as to Conditions Precedent
	  	 	100	  
	 Section 13.05
	  	 Statements Required in Certificate or Opinion
	  	 	100	  
	 Section 13.06
	  	 Rules by Trustee and Agents
	  	 	100	  
	 Section 13.07
	  	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	100	  
	 Section 13.08
	  	 Governing Law
	  	 	101	  
	 Section 13.09
	  	 Waiver of Jury Trial
	  	 	101	  
	 Section 13.10
	  	 No Adverse Interpretation of Other Agreements
	  	 	101	  
	 Section 13.11
	  	 Successors
	  	 	101	  
	 Section 13.12
	  	 Severability
	  	 	101	  
	 Section 13.13
	  	 Counterpart Originals
	  	 	101	  
	 Section 13.14
	  	 Table of Contents, Headings, etc.
	  	 	101	  
	 Section 13.15
	  	 Submission to Jurisdiction; Appointment of Agent
	  	 	101	  

  
 iv 

 EXHIBITS 
  

			
	Exhibit A	  	FORM OF NOTE
	Exhibit B	  	FORM OF SENIOR SUBORDINATED SUBSIDIARY GUARANTEE
	Exhibit C	  	FORM OF SENIOR GUARANTEE

  
 v 

 INDENTURE, dated as of March 13, 2012, among Virgin Media Finance PLC (f/k/a/ NTL Cable
PLC), a public limited company organized under the laws of England and Wales (the “Issuer”), Virgin Media Inc. (f/k/a/ NTL Incorporated), a Delaware corporation (“Parent”), Virgin Media Group LLC (f/k/a/ NTL:
Telewest LLC), a Delaware limited liability company (the “Company”), Virgin Media Holdings Inc. (f/k/a/ NTL Holdings Inc.), a Delaware corporation (“Holdings”), Virgin Media (UK) Group, Inc. (f/k/a/ NTL (UK) Group,
Inc.), a Delaware corporation (“UK Holdco”), Virgin Media Communications Limited (f/k/a/ NTL Communications Limited), a limited company organized under the laws of England and Wales (“Communications” and, together
with Company, Holdings and UK Holdco, the “Intermediate Guarantors”), Virgin Media Investments Limited, a limited company organized under the laws of England and Wales (“VMIL”), Virgin Media Investment Holdings
Limited (f/k/a/ NTL Investment Holdings Limited), a limited company organized under the laws of England and Wales (“VMIH” and, together with VMIL, the “Senior Subordinated Subsidiary Guarantors”), The Bank of New
York Mellon, as trustee (the “Trustee”) and paying agent (the “Paying Agent”) and The Bank of New York Mellon (Luxembourg) S.A. as Luxembourg Paying Agent (and together with the Paying Agent, the “Paying
Agents”). 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of
the Holders (as defined herein) of the 5.25% Senior Notes due 2022 (the “Notes”). Except as set forth in Section 3.07 or Article 9 hereof, all series of Notes will be treated as a single class. 

ARTICLE 1 

DEFINITIONS AND INCORPORATION 
 BY REFERENCE 
  

	 	Section 1.01	Definitions. 

“2006 Indenture” means the indenture dated as of July 25, 2006 between the Issuer, NTL, Incorporated, NTL: Telewest
LLC, NTL Holdings Inc., NTL (UK) Group, Inc., NTL Communications Limited, NTL Investment Holdings Limited, The Bank of New York as trustee and paying agent and The Bank of New York (Luxembourg) S.A. as Luxembourg paying agent. 

“2009 Indenture (June)” means the indenture dated as of June 3, 2009 between the Issuer, Virgin Media Inc., Virgin
Media Group LLC, Virgin Media Holdings Inc., Virgin Media (UK) Group, Inc., Virgin Media Communications Limited, VMIH, The Bank of New York Mellon as trustee and paying agent and The Bank of New York Mellon (Luxembourg) S.A. as Luxembourg paying
agent, as the same has been supplemented. 
 “2009 Indenture (November)” means the indenture dated as of
November 9, 2009, among the Issuer, Virgin Media Inc., Virgin Media Group LLC, Virgin Media Holdings Inc., Virgin Media (UK) Group, Inc., Virgin Media Communications Limited, VMIH, The Bank of New York Mellon as trustee and paying agent and The
Bank of New York Mellon (Luxembourg) S.A. as Luxembourg paying agent. 
 “2010 Indenture” means the indenture
dated as of January 19, 2010 between the Issuer, Virgin Media Inc., Virgin Media Secured Finance PLC, VMIH, the guarantors parties thereto, the Bank of New York Mellon as trustee and paying agent and The Bank of New York Mellon (Luxembourg)
S.A. as Luxembourg paying agent. 
 “2011 Indenture” means the indenture dated as of March 3, 2011 between
the Issuer, Virgin Media Inc., Virgin Media Secured Finance PLC, VMIH, the guarantors parties thereto, the Bank of New York Mellon as trustee and paying agent and The Bank of New York Mellon (Luxembourg) S.A. as Luxembourg paying agent. 

  
 1 

 “Additional Assets” means: 

 

	 	(1)	any Property or assets (other than Indebtedness and Capital Stock) to be used by any Intermediate Guarantor, the Issuer or a Restricted Subsidiary;

  

	 	(2)	the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by any Intermediate Guarantor, the Issuer or
another Restricted Subsidiary; or 

  

	 	(3)	Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary; 

provided, however, that any such Restricted Subsidiary described in clause (2) or (3) above is primarily engaged in a Permitted
Business. 
 “Additional Notes” means additional notes (other than the Initial Notes) of any series having
identical terms and conditions to the Notes that may be issued from time to time under this Indenture in accordance with the terms hereof, including Sections 2.02 and 4.09 hereof. Except as set forth in Section 3.07 or Article 9 hereof, any
Additional Notes may be treated with the Notes as a single class and may vote on all matters with such Notes. 

“Additional Subsidiary Guarantee” means the guarantee of the Notes by each Additional Subsidiary Guarantor. 

“Additional Subsidiary Guarantor” means a Restricted Subsidiary that is required to guarantee the Notes under
Section 4.19 and Section 11.06 hereof. 
 “Affiliate” of any specified Person means any other Person,
directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. 
 “Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent. 

“Applicable Premium” means, with respect to a Note at any time, the greater of (1) 1.0% of the principal amount of
such Note at such time and (2) the excess (to the extent positive) of (A) the present value at such time of (i) the principal amount of such Note at February 15, 2022 (exclusive of any accrued and unpaid interest) plus
(ii) any required interest payments due on such Note through February 15, 2022 (including any accrued and unpaid interest) computed using a discount rate equal to the Treasury Rate plus 50 basis points, over (B) the principal amount
of such Note. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary with respect thereto that apply to such transfer or exchange. 
 “Asset Disposition” means any sale, lease (other than operating leases entered into in the ordinary course of business), transfer or other disposition (or series of related sales, leases,
transfers or dispositions), including any disposition by means of a merger, consolidation, or similar transaction (each referred to for the purposes of this definition as a “disposition”), of any shares of Capital Stock of any

  
 2 

 
Intermediate Guarantor other than the Company, of the Issuer, of a Restricted Subsidiary (other than directors’ qualifying shares or shares required by applicable law to be held by a Person
other than the Issuer or a Restricted Subsidiary) or any assets of the Company or any Restricted Subsidiary other than: 
  

	 	(a)	a disposition to the Company, any Intermediate Guarantor, the Issuer or an Additional Subsidiary Guarantor; 

 

	 	(b)	a disposition by the Company or a Restricted Subsidiary to a Restricted Subsidiary; 

 

	 	(c)	for purposes of Section 4.10 only, a disposition subject to Section 4.07 or a disposition of assets to a joint venture as part of a transaction that is a
Permitted Investment; 

  

	 	(d)	any disposition permitted under Section 5.01; 

  

	 	(e)	a sale of Temporary Cash Investments in the ordinary course of business; 

  

	 	(f)	a disposition of inventory, consumer equipment, communications capacity and worn out or obsolete equipment or assets in the ordinary course of business;

  

	 	(g)	issuance of Capital Stock by a Restricted Subsidiary to the Company, any Intermediate Guarantor, the Issuer or another Restricted Subsidiary; 

 

	 	(h)	any sale or other disposition of Receivables and Related Assets to a Receivables Subsidiary pursuant to or in connection with a Qualified Receivables Transaction;

  

	 	(i)	any sale or disposition deemed to occur in connection with creating or granting a Permitted Lien; 

 

	 	(j)	any disposition of the Capital Stock or all or substantially all Property of any Unrestricted Subsidiary; provided, however, that such disposition shall include
the concurrent transfer of all liabilities (contingent or otherwise) attributable to the Property being transferred; provided further, however, that such disposition shall not, after giving effect to any related agreements, result nor be
likely to result in any material liability, tax or other adverse consequences to any Intermediate Guarantor, the Issuer or any Restricted Subsidiary; 

  

	 	(k)	the licensing or sublicensing of intellectual property or other general intangibles and licenses, leases or subleases of other Property in the ordinary course of
business which do not materially interfere with the business of the Company, the Intermediate Guarantors, the Issuer and their Restricted Subsidiaries; 

  

	 	(l)	assets or Capital Stock acquired in an acquisition which the Company, any Intermediate Guarantor, the Issuer or any Restricted Subsidiary sells within 6 months of such
acquisition; 

  

	 	(m)	the disposition of any Interest Rate Agreements or Currency Agreements no longer required for the purposes for which any such agreement was originally entered into;

  

	 	(n)	 disposals of assets pursuant to Sale/Leaseback Transactions not constituting Indebtedness where the aggregate Fair Market Value of any assets disposed
of in reliance on this paragraph (n) does not, together with the aggregate principal amount of all outstanding 

  
 3 

	 	
Indebtedness incurred under Section 4.09(b)(7) exceed £150 million (or its equivalent in other currencies) in any financial year of the Company and any disposals of assets
pursuant to Sale/Leaseback Transactions constituting Indebtedness to the extent such Indebtedness is otherwise permitted under this Indenture; 

  

	 	(o)	disposals of non-core assets acquired in connection with any acquisition permitted pursuant to the terms of this Indenture; 

 

	 	(p)	any disposals constituted by licenses of intellectual property rights; 

  

	 	(q)	any disposals in connection with a Content Transaction; 

  

	 	(r)	(i) any disposal of assets made pursuant to the establishment of a Permitted Joint Venture or, (ii) any disposal of assets to a Permitted Joint Venture which is
otherwise permitted hereunder and in relation to which the requirements of Section 4.10(a)(1) are satisfied; 

  

	 	(s)	foreclosure on assets; 

  

	 	(t)	surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 

 

	 	(u)	any disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to be outsourced by the Company or any
Restricted Subsidiary to such Person; provided, however, that (A) if the outsourcing relates to non-core business activities, the Company shall provide an Officer’s Certificate and (B) if the outsourcing relates to core
business activities, the Board of Directors shall certify, in either case, that in the opinion of the Officer or the Board of Directors, as applicable, the outsourcing transaction will be economically beneficial to the Company and its Restricted
Subsidiaries (considered as a whole) and that the costs of such outsourcing are fair; provided further, however, that the Fair Market Value of the assets disposed of, when taken together with all other dispositions made pursuant to this
clause (u), do not exceed 5% of Total Assets; or 

  

	 	(v)	a disposition of Capital Stock or assets in a transaction or series of related transactions with an aggregate Fair Market Value of less than £30 million.

 “Attributable Debt” in respect of a Sale/Leaseback Transaction means, as at the time of
determination, the present value (discounted at the interest rate reasonably determined in good faith by a responsible financial or accounting officer of the Issuer to be the interest rate implicit in such Sale/Leaseback Transaction in accordance
with GAAP) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such Sale/Leaseback Transaction (including any period for which such lease has been extended). 

“Average Life” means, as of the date of determination, with respect to any Indebtedness or Preferred Stock, the quotient
obtained by dividing: 
  

	 	(1)	the sum of the products of the number of years from the date of determination to the dates of each successive scheduled principal payment of such Indebtedness or
scheduled redemption or similar payment with respect to such Preferred Stock multiplied by the amount of such payment by 

  

	 	(2)	the sum of all such payments. 

  
 4 

 “Bank Indebtedness” means any and all amounts payable under or in respect
of an agreement, instrument or other document relating to a Credit Facility (including security documents, fee letters and intercreditor agreements or deeds related thereto), including principal, premium (if any), interest (including interest
accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Person liable thereunder whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement
obligations, Guarantees and all other amounts payable thereunder or in respect thereof, and any and all Refinancing Indebtedness Incurred in respect of any such amount (including amounts in respect of Refinancing Indebtedness), whether Incurred
under or in respect of an agreement relating to a Credit Facility or otherwise. 
 “Bankruptcy Law” means
(a) the U.K. Insolvency Act 1986 or any other bankruptcy, insolvency, liquidation or similar laws of general application and (b) the United States Bankruptcy Code of 1978 or any similar U.S. federal or state law for the relief of debtors.

 “Board of Directors” means the Board of Directors of the Issuer or any committee thereof duly authorized to
act on behalf of the Board of Directors of the Issuer or, with respect to clause (2) of the definition of “Change of Control,” the Board of Directors of Parent or the Company. 

“Business Day” means each day which is not a Saturday, Sunday or other day on which banking institutions are not
required by law or regulation to be open in the State of New York or London, England. 
 “Business Division
Transaction” means any creation or participation in any joint venture with respect to any assets, undertakings and/or businesses of the Company and the Restricted Subsidiaries which comprise all or part of the Virgin Media Business division
(or its predecessor or successors), to or with any other entity or person whether or not the Company or any of the Restricted Subsidiaries, excluding the contribution to (but not the use by) any joint venture of the backbone assets utilized by the
Company and its Restricted Subsidiaries and excluding any Subsidiary included in or owned by the Virgin Media Business division but not engaged in the business of that division. 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participations
or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 

“Capitalized Lease Obligation” means an obligation that is required to be classified and accounted for as a capitalized
lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP; and the Stated Maturity thereof
shall be the date of the last payment of rent or any other amount due under such lease, provided that, upon a change in generally accepted accounting principles eliminating the difference in treatment of operating leases and capital leases,
“capital lease” shall be deemed to be a leasing arrangement where the net present value of the payments (using an interest rate determined with reference to yield to maturity in the trading markets for the issue at the date of the lease of
the Issuer’s unsecured senior notes with the longest maturity date at the date of the lease) exceeds 90% of the fair value of the asset. 
 “Change of Control” means the occurrence of any of the following events: 
 (1) any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), except Parent or any Wholly-Owned Subsidiary of Parent in the

  
 5 

 
case of Voting Stock of the Company, is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause
(1) such person or group shall be deemed to have “beneficial ownership” of all shares that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or
indirectly, of more than 50% of the total voting power of the Voting Stock of Parent or the Company (for the purposes of this clause (1), such person shall be deemed to beneficially own any Voting Stock of an entity held by any other entity (the
“parent entity”), if such other person is the beneficial owner (as defined in this clause (1)), directly or indirectly, of more than 50% of the voting power of the Voting Stock of such parent entity); 

(2) during any period of two consecutive years, individuals who at the beginning of such period constituted the Board of Directors of
Parent or the Company (together with any new directors whose election to such Board of Directors or whose nomination for election by the stockholders of such company was approved by a vote of a majority of the directors of such company then still in
office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of Parent or the Company, then in
office; 
 (3) the adoption of a plan relating to the liquidation or dissolution of Parent, the Company or the Issuer; or

 (4) the merger or consolidation of Parent, any other Virgin Media Holding Company or the Issuer with or into another Person
(other than Parent, any other Virgin Media Holding Company or the Issuer or any other Wholly Owned Subsidiary of Parent) or the merger of another Person (other than Parent, any other Virgin Media Holding Company, the Issuer or any other Wholly Owned
Subsidiary of Parent) with or into Parent, any other Virgin Media Holding Company or the Issuer or the sale of all or substantially all the assets of Parent, any other Virgin Media Holding Company or the Issuer to another Person (other than Parent,
any other Virgin Media Holding Company, the Issuer or any other Wholly Owned Subsidiary of Parent), and, in the case of any such merger or consolidation, the securities of Parent, any other Virgin Media Holding Company or the Issuer that are
outstanding immediately prior to such transaction are changed into or exchanged for cash, securities or Property, unless pursuant to such transaction such securities are changed into or exchanged for, in addition to any other consideration,
securities of the surviving Person or transferee that represent immediately after such transaction, at least a majority of the aggregate voting power of the Voting Stock of the surviving Person or transferee. 

Notwithstanding the foregoing, a Change of Control shall not be deemed to have occurred if a Virgin Media Holding Company that is not
then a Subsidiary of Parent becomes the ultimate parent of the Issuer and, if such Virgin Media Holding Company had been Parent, no Change of Control would have otherwise occurred; provided, however, that such Virgin Media Holding Company
guarantees the Notes on a senior basis. 
 “Clearstream” means Clearstream Banking, S.A. 

“close of business” shall mean 5:00 p.m. New York City time. 

“Closing Date” means March 13, 2012. 
 “Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Communications” has the meaning assigned to it in the preamble to this Indenture. 

  
 6 

 “Company” has the meaning assigned to it in the preamble to this Indenture.

 “Consolidated Interest Expense” means, for any period, the total interest expense of the Company and its
Consolidated Restricted Subsidiaries on a Consolidated basis including, without duplication: 
  

	 	(1)	interest expense attributable to Purchase Money Indebtedness and Capitalized Lease Obligations and the interest expense attributable to leases constituting part of a
Sale/Leaseback Transaction, 

  

	 	(2)	amortization of debt discount and debt issuance costs, 

  

	 	(3)	capitalized interest and interest paid in the form of additional Indebtedness, 

 

	 	(4)	cash or non-cash interest expense, 

  

	 	(5)	commissions, discounts and other fees and charges attributable to letters of credit and bankers’ acceptance financing, 

 

	 	(6)	interest accruing on any Indebtedness of any other Person to the extent such Indebtedness is Guaranteed by, or secured by a Lien on the assets of, the Issuer or any
Restricted Subsidiary, 

  

	 	(7)	net costs associated with Hedging Obligations (including amortization of fees), 

 

	 	(8)	dividends in respect of all Disqualified Stock of the Issuer and all Preferred Stock of any of the Subsidiaries of the Issuer, to the extent held by Persons other than
the Issuer or a Wholly Owned Subsidiary of the Issuer, 

  

	 	(9)	interest Incurred in connection with Investments in discontinued operations and 

 

	 	(10)	the cash contributions to any employee share ownership plan or similar trust to the extent such contributions are used by such plan or trust to pay interest or fees to
any Person (other than the Issuer) in connection with Indebtedness Incurred by such plan or trust. 

“Consolidated Net Income” means, for any period, the Consolidated net income (loss) of the Company and its Consolidated
Subsidiaries for such period; provided, however, that there shall not be included in such Consolidated Net Income: 
  

	 	(1)	any net income (or loss) of any Person (other than the Company) if such Person is not a Subsidiary, or is an Unrestricted Subsidiary, except that, subject to the
limitations contained in clause (4) below, the Company’s equity in the net income of any such Person for such period shall be included in such Consolidated Net Income up to the aggregate amount of cash or Temporary Cash Investments
distributed by such Person during such period to the Company or a Restricted Subsidiary as a dividend or other similar distribution or return; 

  

	 	(2)	 any net income (or loss) of any Restricted Subsidiary to the extent such Restricted Subsidiary is subject to restrictions, directly or indirectly, on
the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Issuer (other than any restriction permitted under clause (A), (C) (solely to the extent relating to clause (A)), (H) or
(J) (to the extent that assets of the joint ventures subject to 

  
 7 

	 	
such restriction do not exceed 2.5% of Total Assets) of Section 4.08(b)), except that, subject to the limitations contained in clause (4) below, the Company’s equity in the net
income of any such Restricted Subsidiary for such period shall be included in such Consolidated Net Income up to the aggregate amount of cash or Temporary Cash Investments distributed by such Restricted Subsidiary during such period to the Company
or another Restricted Subsidiary as a dividend or other similar distribution; 

  

	 	(3)	any gain (or loss) realized upon the sale or other disposition of any asset of the Company or its Consolidated Subsidiaries (including pursuant to any Sale/Leaseback
Transaction) and any gain (or loss) realized upon the sale or other disposition of any Capital Stock of any Person, in each case, that is not sold or otherwise disposed of in the ordinary course of business; 

 

	 	(4)	any item classified as a restructuring, extraordinary, unusual, non-recurring or other non-operating gain or loss, including the costs of, and accounting for, financial
instruments; 

  

	 	(5)	any impairment loss of the Company or its Restricted Subsidiaries relating to goodwill or other intangible assets; 

 

	 	(6)	the cumulative effect of a change in accounting principles; 

  

	 	(7)	all deferred financing costs written off in connection with the early extinguishment of Indebtedness, net of taxes; 

 

	 	(8)	any foreign currency transaction or translation gains or losses, net of taxes; and 

 

	 	(9)	any premium, penalty or fee paid in relation to any repayment, prepayment, redemption or purchase of any Indebtedness. 

Notwithstanding the foregoing, for the purpose of Section 4.07 only, there shall be excluded from Consolidated Net Income any
repurchases, repayments, redemptions or releases of Investments, proceeds realized on the sale or liquidation of Investments, and dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries to the Company
or a Restricted Subsidiary to the extent such amounts increase the amount of Restricted Payments permitted under Section 4.07 pursuant to clauses (C)(iv) of paragraph (a) thereof. 

“Consolidation” means the consolidation of the accounts of each of the Restricted Subsidiaries with those of the Company
in accordance with GAAP consistently applied; provided, however, that “Consolidation” will not include consolidation of the accounts of any Unrestricted Subsidiary, but the interest of the Company or any Restricted Subsidiary in an
Unrestricted Subsidiary will be accounted for as an investment. The term “Consolidated” has a correlative meaning. 

“Content” means any rights to broadcast, transmit, distribute or otherwise make available for viewing, exhibition or
reception (whether in analogue or digital format and whether as a channel or an internet service, a teletext-type service, an interactive service, or an enhanced television service or any part of any of the foregoing, or on a pay-per-view basis, or
near video-on-demand, or video-on-demand basis or otherwise) any one or more of audio and/or visual images, audio content, or interactive content (including hyperlinks, re-purposed web-site content, database content plus associated templates,
formatting information and other data including any interactive applications or functionality), text, data, graphics, or other content, by means of any means of distribution, transmission or delivery system or technology (whether now known or herein
after invented). 

  
 8 

 “Content Business” means any business of the Company and its Restricted
Subsidiaries consisting of ownership or licensing of Content. 
 “Content Transaction” means any sale,
transfer, demerger, contribution, spin-off or distribution of, any creation or participation in any joint venture and/or entering into any other transaction or taking any action with respect to, in each case, any assets, undertakings and/or
businesses of the Company and its Restricted Subsidiaries which comprise all or part of the Content Business, to or with any other entity or person whether or not the Company or any of its Restricted Subsidiaries. 

“Convertible Senior Notes” means the $1,000,000,000 of 6.50% Convertible Senior Notes due 2016 issued pursuant to an
indenture dated as of April 16, 2008 between the Parent and The Bank of New York, as trustee. 
 “Credit
Facility” means any debt facility or commercial paper facility (including the Existing Credit Facility) or ancillary facility, in each case with a lender or a syndicate of commercial bank lenders or other financial institutions, providing
for revolving credit loans, term loans, receivables financing or letters of credit, in each case, as amended, restated, refunded, renewed, replaced or Refinanced in whole or in part from time to time by a lender or a syndicate of commercial bank
lenders or other financial institutions. 
 “Currency Agreement” means with respect to any Person any foreign
exchange contract, currency swap agreements or other similar agreement or arrangement to which such Person is a party or of which it is a beneficiary. 
 “Custodian” means the Trustee, as custodian for DTC with respect to the Global Note. 
 “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.06 hereof, substantially in the form of
Exhibit A hereto except that such Note shall not bear the Global Note Legend or the “Schedule of Exchanges of Interests in the Global Note” attached hereto. 
 “Depositary” means, with respect to any Global Note, the Person specified in Section 2.03 hereof as the Depositary with respect to such Global Note or any successor thereto appointed
as Depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 
 “Designated
Non-Cash Consideration” means the Fair Market Value of non-cash consideration received by any Intermediate Guarantor, the Issuer or any Restricted Subsidiary in connection with an Asset Disposition that is so designated pursuant to an
Officer’s Certificate, setting forth the basis of such valuation. The aggregate Fair Market Value of the Designated Non-Cash Consideration, taken together with the Fair Market Value at the time of receipt of all other Designated Non-Cash
Consideration then held by any Intermediate Guarantor, the Issuer or any Restricted Subsidiary, may not exceed the greater of (x) £250 million in the aggregate or (y) 1.00% of Total Assets, at the time of the receipt of the
Designated Non-Cash Consideration (with the Fair Market Value being measured at the time received and without giving effect to subsequent changes in value). 
 “Designated Senior Indebtedness” means any Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors (other than Bank Indebtedness) which at the time of determination exceeds
£75 million in aggregate principal amount (or accreted value in the case of Indebtedness issued at a discount) 

  
 9 

 
outstanding or available under a committed facility, which is specifically designated in the instrument evidencing such Senior Indebtedness as “Designated Senior Indebtedness” by such
Person and as to which the Trustee has been given written notice of such designation. 
 “Disqualified Stock”
means, with respect to any Person, any Capital Stock which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable or exercisable) or upon the happening of any event: 

 

	 	(1)	matures or is mandatorily redeemable (other than redeemable only for Capital Stock of such Person that is not itself Disqualified Stock) pursuant to a sinking fund
obligation or otherwise; 

  

	 	(2)	is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock convertible or exchangeable solely at the option of the Company or a
Restricted Subsidiary; provided, however, that any such conversion or exchange shall be deemed an Incurrence of Indebtedness or Disqualified Stock, as applicable); or 

 

	 	(3)	is redeemable or may become (in accordance with its terms) upon the occurrence of certain events or otherwise redeemable or repurchasable at the option of the holder
thereof, in whole or in part, 

 in the case of each of clauses (1), (2) and (3), on or prior to 180 days following the
Stated Maturity of the Notes; provided, however, that any Capital Stock that would not constitute Disqualified Stock but for provisions thereof giving holders thereof the right to require such Person to repurchase or redeem such Capital Stock
upon the occurrence of an “asset sale” or “change of control” occurring prior to 180 days following the Stated Maturity of the Notes shall not constitute Disqualified Stock if the “asset sale” or “change of
control” provisions applicable to such Capital Stock are not more favorable to the holders of such Capital Stock than the provisions of Sections 4.10 and 4.15. 
 “Dollar Equivalent” means, with respect to any monetary amount in pounds sterling, at any time for the determination thereof, the amount of U.S. Dollars obtained by converting the pounds
sterling involved in such computation into U.S. Dollars at the spot rate for the purchase of U.S. Dollars with pounds sterling as published by Bloomberg L.P. on the date two Business Days prior to such determination. 

“EBITDA” for any period means the Consolidated Net Income for such period plus, without duplication, the following to
the extent deducted in calculating such Consolidated Net Income of the Company and its Consolidated Restricted Subsidiaries: 
  

	 	(1)	income tax expense; 

  

	 	(2)	Consolidated Interest Expense; 

  

	 	(3)	depreciation expense; 

  

	 	(4)	amortization expense (excluding amortization expense attributable to a prepaid cash item that was paid in a prior period); 

 

	 	(5)	all other non-cash charges (excluding any such non-cash charge to the extent it represents an accrual of or reserve for cash expenditures in any future period) less all
non-cash items of income (excluding any such non-cash item of income to the extent it will result in receipt of cash payments in any future period); 

  
 10 

	 	(6)	other cash charges for professional fees and services incurred in connection with the planning, negotiating, documenting or other activities related to a proposed
financing, acquisition or disposition transaction involving a Permitted Business if such transaction is abandoned; 

  

	 	(7)	the amount of minority interest expense deducted in calculating Consolidated Net Income; 

 

	 	(8)	the amount of any restructuring charge deducted for such period in calculating Consolidated Net Income; 

 

	 	(9)	recapitalization items, net; 

  

	 	(10)	share of income or loss on equity Investments; and 

  

	 	(11)	asset impairments, 

 in each case for such
period. 
 Notwithstanding the foregoing, the provision for taxes based on the income or profits of, and the depreciation and
amortization and non-cash charges of, a Restricted Subsidiary shall be added to Consolidated Net Income to compute EBITDA only to the extent (and in the same proportion) that the net income of such Restricted Subsidiary was included in calculating
Consolidated Net Income and only to the extent that a corresponding amount would be permitted at the date of determination to be dividended or distributed, directly or indirectly, to the Company by such Restricted Subsidiary without breaching or
violating a restriction, directly or indirectly, applicable to such Restricted Subsidiary (disregarding for this purpose any restriction permitted under clause (A), (C) (solely to the extent relating to clause (A)) or (H) of
Section 4.08(b)). 
 “Equity Offering” means a public or private sale for cash of Capital Stock that is a
sale of Capital Stock of the Company or any Virgin Media Holding Company (not including convertible debt or other equity-linked securities or purchases of Capital Stock of the Company or any Virgin Media Holding Company funded by a sale of debt,
convertible debt or other equity-linked securities of the Company or any Virgin Media Holding Company). 

“Euroclear” means Euroclear Bank S.A./N.V. 
 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 
 “Existing Credit Facility” means the Senior Facilities Agreement dated March 3, 2006 between Virgin Media Inc. as Ultimate Parent and the other parties thereto, as the same may be
amended, modified, supplemented, extended or replaced from time to time, in each case in accordance with the terms of this Indenture. 
 “Existing Notes” means (i) the $600 million of 8.375% Senior Notes due 2019 and the £350 million of 8.875% Senior Notes due 2019 issued by the Issuer pursuant to the 2009
Indenture (November) and (ii) the $1.35 billion of 9.50% Senior Notes due 2016 and the €180 million of 9.50% Senior Notes due 2016 issued by the Issuer pursuant to the 2009 Indenture (June). 

  
 11 

 “Existing Senior Secured Notes” means (i) the $1.0 billion of 6.50%
Senior Secured Notes due 2018 and the £875 million of 7.00% Senior Secured Notes due 2018 issued by Virgin Media Secured Finance PLC pursuant to the 2010 Indenture and (ii) the $500 million 5.25% Senior Secured Notes due 2021 and the
£650 million 5.50% Senior Secured Notes due 2021 issued by Virgin Media Secured Finance PLC pursuant to the 2011 Indenture. 
 “Fair Market Value” means, with respect to any asset or Property, the price which could be negotiated in an arm’s-length transaction between a willing seller and a willing buyer,
neither of whom is under undue pressure or compulsion to complete the transaction. 
 “Fitch” means Fitch
Ratings or any successor to its rating business. 
 “GAAP” means generally accepted accounting principles in
the United States of America as in effect as of the Closing Date. All ratios and computations based on GAAP contained in this Indenture shall be computed in conformity with GAAP as in effect at the Closing Date. 

“Global Notes” means, individually and collectively, the Global Notes, substantially in the form of Exhibit A
hereto (including the Global Note Legend thereon and the “Schedule of Exchange of Interests in the Global Note” attached thereto) issued in accordance with Section 2.01 or 2.06 hereof. 

“Global Note Legend” means the legend set forth in Section 2.06(f), which is required to be placed on all Global
Notes issued under this Indenture. 
 “Group Intercreditor Deed” means the Group Intercreditor Deed originally
entered into on March 3, 2006 and as amended from time to time, between Deutsche Bank AG London Branch as Facility Agent and Security Trustee, the Original Borrowers, the Original Guarantors, the Senior Lenders, the Lessors, the Lessees, the
Hedge Counterparties, the Lessor’s Agent, the Intergroup Debtors and the Intergroup Creditors (each as defined therein) as the same may be amended, modified, supplemented, extended or replaced from time to time. 

“Guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any
Indebtedness or other obligation of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  

	 	(1)	to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of such other Person (whether arising by virtue of
partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise); or 

 

	 	(2)	entered into for purposes of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against
loss in respect thereof (in whole or in part); 

 provided, however, that the term “Guarantee” shall not
include (i) endorsements for collection or deposit in the ordinary course of business or (ii) a contractual commitment by a Person to make an Investment in another Person so long as such Investment is reasonably expected to constitute a
Permitted Investment under clause (1) or (2) of the definition of “Permitted Investment.” The term “Guarantee” used as a verb has a corresponding meaning. The term “Guarantor” shall mean any Person
Guaranteeing any obligation. 

  
 12 

 “Hedging Obligations” of any Person means the obligations of such Person
pursuant to any Interest Rate Agreement or any Currency Agreement. 
 “High Yield Trustee Direct Claims” refers
to such term as defined in the Intercreditor Deed. 
 “Holder” means each Person in whose name the Notes are
registered on the Registrar’s books. 
 “Holdings” has the meaning assigned to it in the preamble to this
Indenture. 
 “Incur” means issue, assume, Guarantee, incur or otherwise become liable for; provided,
however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a
Subsidiary. The term “Incurrence” when used as a noun shall have a correlative meaning. 
 Solely for purposes of
determining compliance with Section 4.09, the following will not be deemed to be the Incurrence of Indebtedness: (1) amortization of debt discount or the accretion of principal with respect to a non-interest bearing or other discount
security; (2) the payment of regularly scheduled interest in the form of additional Indebtedness of the same instrument or the payment of regularly scheduled dividends on Capital Stock in the form of additional Capital Stock of the same class
and with the same terms; (3) the obligation to pay a premium in respect of Indebtedness arising in connection with the issuance of a notice of redemption or the making of a mandatory offer to purchase such Indebtedness; and (4) a change in
GAAP that results in an obligation of such Person that exists at such time, and is not theretofore classified as Indebtedness, becoming Indebtedness. 
 “Indebtedness” means, with respect to any Person on any date of determination, without duplication: 
  

	 	(1)	the principal of and premium (if any) in respect of indebtedness of such Person for borrowed money; 

 

	 	(2)	the principal of and premium (if any) in respect of obligations of such Person evidenced by bonds, debentures, notes or other similar instruments (other than loan notes
or similar instruments issued solely by way of consideration for the acquisition of assets in order to defer capital gains or equivalent taxes where such loan notes or similar instruments are not issued for the purpose of financing but are issued
for tax purposes); 

  

	 	(3)	all obligations of such Person in respect of letters of credit, bankers’ acceptances or other similar instruments (including reimbursement obligations with respect
thereto), other than reimbursement obligations with respect to letters of credit securing obligations (other than obligations described in (1), (2) and (5) of this definition) entered into in the ordinary course of business of such Person
to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon such drawing is reimbursed no later than the fifth Business Day following receipt by such Person of a demand for reimbursement following payment of the
letter of credit; 

  

	 	(4)	all obligations of such Person to pay the deferred and unpaid purchase price of Property or services (except Trade Payables), which purchase price is due more than six
months after the date of placing such Property in service or taking delivery and title thereto or the completion of such services and whose primary purpose is for financing; 

  
 13 

	 	(5)	all Capitalized Lease Obligations and all Attributable Debt of such Person; 

 

	 	(6)	the amount of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Subsidiary
of such Person, any Preferred Stock (but excluding, in each case, any accrued dividends); 

  

	 	(7)	all obligations referred to in other clauses of this definition of other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is
assumed by such Person; provided, however, that the amount of Indebtedness of such Person shall be the lesser of: (A) the Fair Market Value of such asset at such date of determination and (B) the amount of such Indebtedness of such
other Persons; 

  

	 	(8)	Hedging Obligations of such Person; and 

  

	 	(9)	all obligations of the type referred to in clauses (1) through (8) of other Persons and all dividends of other Persons for the payment of which, in either
case, such Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including by means of any Guarantee. 

 The amount of Indebtedness of any Person at any date shall be the outstanding balance at such date of all unconditional obligations as described above and the maximum liability, upon the occurrence of the
contingency giving rise to the obligation, of any contingent obligations at such date as determined in accordance with GAAP. The amount of Indebtedness under Hedging Obligations of a Person will be calculated by reference to the net liability of
such Person thereunder (as determined in accordance with GAAP as of the date of the most recent financial statements distributed to Holders under Section 4.03). 
 “Indenture” means this Indenture, as amended or supplemented from time to time. 
 “Independent Financial Advisor” means an investment banking, financial advisory, valuation or accounting firm of international standing or any third-party appraiser of international
standing; provided that such firm or appraiser is not an Affiliate of the Company. 
 “Indirect
Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 
 “Initial
Notes” means the $500,000,000 aggregate principal amount of Notes issued under this Indenture on the date hereof. 

“Intercreditor Deed” means the Intercreditor Deed first entered into among the Issuer, VMIH, Credit Suisse First Boston,
The Bank of New York and the senior lenders party thereto, on April 13, 2004, as the same may be amended, modified, supplemented, extended or replaced from time to time, in each case in accordance with the terms of this Indenture, including by
the accession of the Trustee thereto. 
 “Interest Rate Agreement” means with respect to any Person any
interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement
or arrangement to which such Person is party or of which it is a beneficiary. 
 “Intermediate Guarantee” means
the guarantee of the Notes by each Intermediate Guarantor. 

  
 14 

 “Intermediate Guarantors” collectively means the Company, Holdings, UK
Holdco, Communications and any future Subsidiary of the Company of which the Issuer is a Subsidiary, which future Subsidiary shall be required to Guarantee the Notes on a senior basis in accordance with Section 11.06 hereof. 

“Intra Group Services” means: 
  

	 	(1)	the sale of programming or other Content by the Parent or any of its Subsidiaries to the Company or any Restricted Subsidiary on arm’s length terms;

  

	 	(2)	the lease or sublease of office space, other premises or equipment on arm’s length terms by the Company or the Restricted Subsidiaries to the Parent or any of its
Subsidiaries or by the Parent or any of its Subsidiaries to the Company or the Restricted Subsidiaries; 

  

	 	(3)	the provision or receipt of other services, facilities or other arrangements (in each case not constituting Indebtedness) in the ordinary course of business, by the
Company or the Restricted Subsidiaries to or from the Parent or any of its Subsidiaries including, without limitation, (i) the employment of personnel, (ii) provision of employee healthcare or other benefits, (iii) acting as agent to
buy equipment, other assets or services or to trade with residential or business customers, and (iv) the provision of audit, accounting, banking, IT, telephony, office, administrative, compliance, payroll or other similar services
provided that the consideration for the provision thereof is, in the reasonable opinion of the Company, no less than cost; and 

  

	 	(4)	the extension, in the ordinary course of business and on terms no less favorable to the Company or the Restricted Subsidiaries than arm’s length terms, by or to
the Company or the Restricted Subsidiaries to or by the Parent or any of its Subsidiaries of trade credit not constituting Indebtedness in relation to the provision or receipt of Intra-Group Services referred to in paragraphs (1), (2) or
(3) above. 

 “Investment” in any Person means any direct or indirect advance, loan (other
than advances to customers in the ordinary course of business that are of a type that will be recorded as accounts receivable on the balance sheet of the lender) or other extension of credit (including by way of Guarantee or similar arrangement) or
capital contribution to (including by means of any transfer of cash or other Property to others or any payment for Property or services for the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness or other similar
instruments issued by such Person, or any prepayment, repayment, repurchase, redemption, retirement, refinancing or defeasance of Indebtedness of such Person, together with all items that are or would be classified as investments on a balance sheet
prepared in accordance with GAAP. For purposes of Sections 4.07 and 4.17 of this Indenture: 
  

	 	(1)	“Investment” shall include the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of
any Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to
have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 

  

	 	(A)	the Company’s “Investment” in such Subsidiary at the time of such redesignation, less 

  
 15 

	 	(B)	the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time of such
redesignation; and 

  

	 	(2)	any Property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer. 

“Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the
equivalent) by Moody’s, BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 

“Issuer” has the meaning assigned to it in the preamble to this Indenture. 

“Leverage Ratio” means the ratio of: 
  

	 	(1)	the outstanding Indebtedness of the Company and its Consolidated Restricted Subsidiaries on a Consolidated basis, to 

 

	 	(2)	the Pro Forma EBITDA. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional
sale or other title retention agreement or lease in the nature thereof). 
 “Member State” means any country
that was a member of the European Union as of July 25, 2006. 
 “Merger Date” means March 3, 2006.

 “Moody’s” means Moody’s Investors Service, Inc. or any successor to its rating business.

 “Net Available Cash” from an Asset Disposition means cash payments received (including, only when and as
received, any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but excluding any
other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to the properties or assets that are the subject of such Asset Disposition or received in any other non-cash form)
therefrom, in each case net of: 
  

	 	(1)	all legal, accounting and investment banking fees and expenses, title and recording tax expenses, commissions and other fees and expenses incurred, and all national,
regional, state, provincial, foreign and local taxes required to be paid as a consequence of such Asset Disposition, 

  

	 	(2)	all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon or other security
agreement of any kind with respect to such assets, or which must by its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset Disposition,

  

	 	(3)	all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result of such Asset Disposition, and

  
 16 

	 	(4)	appropriate cash amounts to be provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the Property or other assets
disposed of in such Asset Disposition and retained by the Company, the Issuer or any Restricted Subsidiary after such Asset Disposition. 

 “Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees,
underwriters’ or placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof. 

“Non-Recourse Debt” means Indebtedness: 
  

	 	(1)	as to which neither the Company, the Issuer nor any other Restricted Subsidiary (a) provides any Guarantee or credit support of any kind (including any
undertaking, Guarantee, indemnity, agreement or instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise); 

 

	 	(2)	no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an Unrestricted Subsidiary) would permit
(upon notice, lapse of time or both) any holder of any other Indebtedness of the Company, the Issuer or any other Restricted Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to be accelerated or payable
prior to its stated maturity; and 

  

	 	(3)	the explicit terms of which provide there is no recourse against any of the assets of the Company, the Issuer or any other Restricted Subsidiary.

 “Note Guarantee” means the guarantee of the Notes by each Note Guarantor. 

“Note Guarantor” means the Parent, each Intermediate Guarantor, each Senior Subordinated Subsidiary Guarantor, and each
Additional Subsidiary Guarantor. 
 “Notes” has the meaning assigned to it in the preamble to this Indenture.

 “Officer” of a Person means the Chairman of the Board, the Chief Executive Officer, the Chief Financial
Officer, Deputy Chief Financial Officer, the President, any Vice President, the Treasurer, Assistant Treasurer, the Secretary or Assistant Secretary, or any Director. 
 “Officer’s Certificate” means a certificate signed by an Officer. 
 “Opinion of Counsel” means a written opinion from legal counsel of recognized standing in a form reasonably satisfactory to the addressee of such opinion. The counsel may be an employee
of, or counsel to, the Issuer. 
 “Parent” has the meaning assigned to it in the preamble to this Indenture.

 “Parent Guarantee” means the guarantee of the Notes by the Parent. 

“Pari Passu Lien Obligations” means the Existing Senior Secured Notes and any other Indebtedness that has equal or
substantially equal Lien priority relative to the Existing Senior Secured Notes. 

  
 17 

 “Participant” means, with respect to any Depositary, a Person who is a
participant of or has an account with such Depositary (and, with respect to DTC, shall include Euroclear and Clearstream). 

“Permitted Business” means any business engaged in by the Company, the Issuer or any other Restricted Subsidiary on the
Closing Date and any Related Business. 
 “Permitted Investment” means an Investment by the Company, the Issuer
or any other Restricted Subsidiary in: 
  

	 	(1)	the Company, any Restricted Subsidiary or a Person that will, upon the making of such Investment, become a Restricted Subsidiary; 

 

	 	(2)	another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets
to, the Company or any Restricted Subsidiary; 

  

	 	(3)	cash and Temporary Cash Investments; 

  

	 	(4)	receivables owing to the Company, the Issuer or any other Restricted Subsidiary if created or acquired in the ordinary course of business and payable or dischargeable
in accordance with customary trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company, the Issuer or any such Restricted Subsidiary deems reasonable under the circumstances;

  

	 	(5)	payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and
that are made in the ordinary course of business; 

  

	 	(6)	loans, advances or Guarantees of loans or advances to employees (including for relocation) made in the ordinary course of business of the Company or such Restricted
Subsidiary and not exceeding £5 million in the aggregate outstanding at any one time; 

  

	 	(7)	shares, obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Company, the Issuer or any other
Restricted Subsidiary or in satisfaction of judgments; 

  

	 	(8)	any Person to the extent such Investment represents the non-cash portion of the consideration received for an Asset Disposition that was made pursuant to and in
compliance with Section 4.10 hereof; 

  

	 	(9)	any Person, if such Investment is in existence on the Closing Date and any Investment in any Person to the extent such Investment Refinances an Investment in such
Person existing on the Closing Date in an amount not exceeding the amount of the Investment being Refinanced; provided, however, that such new Investment is on terms and conditions no less favorable to the Company, the Issuer or any other
Restricted Subsidiary than the Investment being Refinanced; 

  

	 	(10)	Guarantees permitted to be Incurred by Section 4.09 hereof; 

  
 18 

	 	(11)	loans granted as a result of a subscriber being allowed terms, in the ordinary course of trade, whereby it does not have to pay for services provided to it for a period
of time after the provision of such services; 

  

	 	(12)	lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business; 

 

	 	(13)	Hedging Obligations permitted under this Indenture; 

  

	 	(14)	repurchases of the Notes; 

  

	 	(15)	Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such
definition; 

  

	 	(16)	any Person where such Investment was acquired by the Company, the Issuer or any other Restricted Subsidiary (i) in exchange for any other Investment or accounts
receivable held by the Company, the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable or (ii) as
a result of a foreclosure by the Company, the Issuer or any such Restricted Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

 

	 	(17)	any Receivables Subsidiary organized in connection with a Qualified Receivables Transaction that, in the good faith determination of the Company, is necessary or
advisable to effect such Qualified Receivables Transaction; and 

  

	 	(18)	any Person; provided, however, that such Investment (having a Fair Market Value measured on the date such Investment was made and without giving effect to
subsequent changes in value), when taken together with all other Investments made pursuant to this clause (18) since the Closing Date, shall not exceed at the time the Investment is made the greater of (a) 2.0% of Total Assets or
(b) £100 million; provided, further, however, that Investments made in any Unrestricted Subsidiary pursuant to this clause (18) shall not increase the amount of Restricted Payments permitted to be made under Section 4.07
upon any redesignation of any such Unrestricted Subsidiary as a Restricted Subsidiary. 

 “Permitted Joint
Ventures” means one or more joint ventures formed by (i) the contribution of all or any part of the Content Business to a joint venture formed by the Company or any of its Restricted Subsidiaries with one or more joint venturers; and
(ii) the contribution of some or all of the assets of the Virgin Media Business division pursuant to a Business Division Transaction to a joint venture formed by the Company or any of its Restricted Subsidiaries with one or more joint
venturers. 
 “Permitted Liens” means, with respect to any Person: 

 

	 	(1)	pledges or deposits by such Person under worker’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with
bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or Temporary Cash Investments to secure surety
or appeal bonds to which such Person is a party, or deposits as security for contested taxes or customs duties in connection with the importation of goods or for the payment of rent, in each case Incurred in the ordinary course of business;

  
 19 

	 	(2)	Liens imposed by law, such as statutory Liens for landlords and carriers’, warehousemen’s and mechanics’ Liens, in each case for sums not yet delinquent
or being contested in good faith or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; 

 

	 	(3)	Liens for taxes, assessments or government charges or claims not yet due or payable or subject to penalties for non-payment or which are being contested in good faith;

  

	 	(4)	Liens in favor of issuers of surety bonds, performance bonds or letters of credit, bankers’ acceptances or other obligations of a like nature provided by the
Company or a Restricted Subsidiary in the ordinary course of business; 

  

	 	(5)	survey exceptions, encumbrances, easements or reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines, utility agreements, telegraph
and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which were not Incurred in
connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

 

	 	(6)	Liens securing Purchase Money Indebtedness and Capitalized Lease Obligations Incurred to finance the construction, purchase or lease of, or repairs, improvements or
additions to, assets or Property of such Person; provided, however, that the Lien may not extend to any other assets or Property owned by such Person or any of its Subsidiaries at the time the Lien is Incurred, and the original principal
amount of the Indebtedness secured by the Lien may not be Incurred more than 180 days after the later of the acquisition, completion of construction, repair, improvement, addition or commencement of full operation of the Property subject to the
Lien; 

  

	 	(7)	(i) Liens to secure Bank Indebtedness, Existing Senior Secured Notes and additional Pari Passu Lien Obligations Incurred pursuant to clause (1) of
Section 4.09(b) and (ii) Liens to secure Indebtedness (including Bank Indebtedness and Permitted Public Debt) Incurred pursuant to clauses (a), (b)(4) (to the extent relating to Indebtedness incurred under clause (a)) or (b)(16) of
Section 4.09; 

  

	 	(8)	Liens existing on the Closing Date; 

  

	 	(9)	Liens on Property or shares of another Person at the time such other Person becomes a Subsidiary of such Person; provided, however, that such Liens are not
created, Incurred or assumed in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided further, however, that such Liens do not extend to any other Property owned by such Person or any of its
Subsidiaries unless otherwise permitted hereunder; 

  

	 	(10)	Liens on Property at the time such Person or any of its Subsidiaries acquires the Property, including any acquisition by means of a merger or consolidation with or into
such Person or any Subsidiary of such Person; provided, however, that such Liens are not created, Incurred or assumed in connection with, or in contemplation of, such acquisition; provided further, however, that the Liens do not extend
to any other Property owned by such Person or any of its Subsidiaries unless otherwise permitted hereunder; 

  
 20 

	 	(11)	Liens securing Indebtedness or other obligations of a Subsidiary of such Person owing to a Restricted Subsidiary or the Issuer (other than Indebtedness or other
obligations owing by an Additional Subsidiary Guarantor to a Subsidiary that is not an Additional Subsidiary Guarantor); 

  

	 	(12)	Liens securing Hedging Obligations permitted to be Incurred under this Indenture so long as such obligations relate to Indebtedness that is, and is permitted under this
Indenture to be, secured by a Lien on the same Property securing such obligations or cash collateral or customary Liens Incurred in connection with Hedging Obligations; 

 

	 	(13)	Liens to secure any Refinancing (or successive Refinancings) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6),
(8), (9) and (10); provided, however, that: 

  

	 	(A)	such new Lien shall be limited to all or part of the same Property that secured the original Lien (plus improvements to or on such Property); and

  

	 	(B)	the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of: 

 

	 	(i)	the outstanding principal amount or, if greater, committed amount of the Indebtedness secured by Liens described under clause (6), (8), (9) or (10) at the
time the original Lien became a Permitted Lien under this Indenture; and 

  

	 	(ii)	an amount necessary to pay any fees and expenses, including premiums, related to such Refinancings; 

 

	 	(14)	Liens securing the Notes, the Intermediate Guarantees, the Additional Subsidiary Guarantees and other obligations of the Company and any Restricted Subsidiaries under
this Indenture; 

  

	 	(15)	Liens of a Restricted Subsidiary that is not an Intermediate Guarantor, the Issuer or an Additional Subsidiary Guarantor securing Indebtedness of a Restricted
Subsidiary that is not an Intermediate Guarantor, the Issuer or an Additional Subsidiary Guarantor; 

  

	 	(16)	Liens in favor of any Intermediate Guarantor, the Issuer or an Additional Subsidiary Guarantor; 

 

	 	(17)	Liens to secure Receivables and Related Assets as part of a Qualified Receivables Transaction; 

 

	 	(18)	Liens arising by virtue of any statutory or common law provisions (or by agreement to the same effect) relating to banker’s Liens, contractual rights of set-off or
similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; 

  
 21 

	 	(19)	Liens arising from U.S. Uniform Commercial Code financing statement filings (or similar filings in other applicable jurisdictions) regarding operating leases entered
into by the Person in the ordinary course of business; 

  

	 	(20)	Liens in connection with any Sale/Leaseback Transaction permitted pursuant to Section 4.16 hereof; and 

 

	 	(21)	Liens Incurred in the ordinary course of business of any Intermediate Guarantor or any Restricted Subsidiary with respect to obligations (other than Indebtedness for
borrowed money) that do not exceed £50 million at any time outstanding. 

 “Permitted Public
Debt” means any Secured Indebtedness that is Public Debt of the Issuer and its Restricted Subsidiaries, the incurrence of which would not, on a pro forma basis, cause the ratio of (1) the outstanding Indebtedness of the Issuer and its
Consolidated Restricted Subsidiaries representing the Existing Senior Secured Notes, the Existing Credit Facility and other Pari Passu Lien Obligations, to (2) the Pro Forma EBITDA, to exceed 3.75:1.0. 

“Person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint
stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
 “Preferred Stock,” as applied to the Capital Stock of any Person, means Capital Stock of any class or classes (however designated) that is preferred as to the payment of dividends, or as
to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of Capital Stock of any other class of such Person. 
 “principal” of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time. 

“Pro Forma EBITDA” means, for any period, the EBITDA of the Company and its Consolidated Restricted Subsidiaries, after
giving effect to the following: 
 if: 
  

	 	(1)	since the beginning of such period, the Company or any Restricted Subsidiary shall have made any Asset Disposition or an Investment (by merger or otherwise) in any
Restricted Subsidiary (or any Person that becomes a Restricted Subsidiary) or an acquisition; 

  

	 	(2)	the transaction giving rise to the need to calculate Pro Forma EBITDA is such an Asset Disposition, Investment or acquisition; or 

 

	 	(3)	since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since
the beginning of such period shall have made such an Asset Disposition, Investment or acquisition, 

 EBITDA for such period shall
be calculated in good faith by a responsible financial or accounting officer of the Company after giving pro forma effect to such Asset Disposition, Investment or acquisition as if such Asset Disposition (and the application of the proceeds
therefrom), Investment or acquisition occurred on the first day of such period. 

  
 22 

 “Property” means, with respect to any Person, any interest of such Person
in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, including Capital Stock in, and other securities of, any other Person. 
 “Public Debt” means any Indebtedness consisting of bonds, debentures, notes or other similar debt securities issued in (1) a public offering registered under the Securities Act or
(2) a private placement to institutional investors that is underwritten for resale in accordance with Rule 144A or Regulation S under the Securities Act, whether or not it includes registration rights entitling the holders of such debt
securities to registration thereof with the SEC for public resale. The term “Public Debt,” for the avoidance of doubt, shall not be construed to include any Indebtedness issued to institutional investors in a direct placement of such
Indebtedness that is not underwritten by an intermediary (it being understood that, without limiting the foregoing, a financing that is distributed to not more than ten Persons (provided that multiple managed accounts and Affiliates of any such
Persons shall be treated as one Person for the purposes of this definition) shall not be deemed underwritten), or any Bank Indebtedness under any Credit Facility (including any such Bank Indebtedness under any such Credit Facility that is provided
by a lender which finances its ability to provide such Indebtedness through the incurrence of Public Debt), Capitalized Lease Obligation or recourse transfer of any financial asset or any other type of Indebtedness Incurred in a manner not
customarily viewed as a “securities offering”. 
 “Purchase Money Indebtedness” means Indebtedness:

  

	 	(1)	consisting of the deferred purchase price of an asset, conditional sale obligations, obligations under any title retention agreement and other purchase money
obligations, in each case where the maturity of such Indebtedness does not exceed the anticipated useful life of the asset being financed, and 

  

	 	(2)	Incurred to finance the acquisition by the Company or a Restricted Subsidiary of such asset, including additions and improvements; 

provided, however, that the original principal amount of such Indebtedness is Incurred within 180 days after the acquisition by the Company
or such Restricted Subsidiary of such asset. 
 “Qualified Receivables Transaction” means any transaction or
series of transactions that may be entered into by the Company, the Issuer or any other Restricted Subsidiary pursuant to which the Company, the Issuer or any other Restricted Subsidiary may sell, convey or otherwise transfer to: 

 

	 	(1)	a Receivables Subsidiary (in the case of a transfer by the Company, the Issuer or any other Restricted Subsidiary); and 

 

	 	(2)	any other Person (in the case of a transfer by a Receivables Subsidiary), 

 or may grant a security interest in, any Receivables and Related Assets. 

“Rating Agency” means each of Fitch, Moody’s and S&P, or if none of Fitch, Moody’s or S&P, shall make
a rating on the Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Issuer (as certified by a resolution of its Board of Directors), shall be substituted for Fitch,
Moody’s or S&P, as the case may be. 
 “Receivables and Related Assets” means accounts receivable,
instruments, chattel paper, obligations, general intangibles and other similar assets, including interests in merchandise or goods, the sale or lease of which give rise to the foregoing, related contractual rights, Guarantees, insurance

  
 23 

 
proceeds, collections, other related assets and assets that are customarily transferred, or in respect of which security interests are customarily granted, in connection with asset securitization
transactions involving accounts receivable, and proceeds of all the foregoing. 
 “Receivables Fees” means
distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Qualified
Receivables Transaction. 
 “Receivables Subsidiary” means a Subsidiary of the Company that engages in no
activities other than in connection with the financing of accounts receivable and that is designated by the Board of Directors (as provided below) as a Receivables Subsidiary and: 

 

	 	(1)	has no Indebtedness or other Obligation (contingent or otherwise) that: 

  

	 	(A)	is guaranteed by the Company, the Issuer or any Restricted Subsidiary, other than contingent liabilities pursuant to Standard Securitization Undertakings;

  

	 	(B)	is recourse to or obligates the Company or any Restricted Subsidiary in any way other than pursuant to Standard Securitization Undertakings; or

  

	 	(C)	subjects any Property or assets of the Company or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than
pursuant to Standard Securitization Undertakings; 

  

	 	(2)	has no contract, agreement, arrangement or undertaking (except in connection with a Qualified Receivables Transaction) with the Company or any Restricted Subsidiary
other than on terms no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuer, other than fees payable in the ordinary course of business in
connection with servicing accounts receivables; and 

  

	 	(3)	neither the Company nor any Restricted Subsidiary has any obligation to maintain or preserve such Receivables Subsidiary’s financial condition or cause such
Receivables Subsidiaries to achieve certain levels of operating results. 

 Any such designation by the Board of
Directors shall be evidenced to the relevant Trustee by filing with such Trustee a copy of the resolution of the Board of Directors giving effect to such designation and an Officer’s Certificate certifying, to such Officer’s knowledge and
belief after consulting with counsel that such designation complied with the foregoing conditions. 

“Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, refund, repay, prepay, redeem, defease
or retire, or to issue other Indebtedness exchange or replacement for, such Indebtedness. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Refinancing Indebtedness” means any Indebtedness that Refinances any other Indebtedness, including any successive Refinancings, so long as: 

 

	 	(1)	such Indebtedness is in an aggregate principal amount (or if Incurred with original issue discount, an aggregate issue price) not in excess of the sum of:

  

	 	(A)	the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being Refinanced, and

  

	 	(B)	an amount necessary to pay any fees and expenses, including premiums and defeasance costs, related to such Refinancing, 

  
 24 

	 	(2)	the Average Life of such Indebtedness is equal to or greater than the Average Life of the Indebtedness being Refinanced, 

 

	 	(3)	the Stated Maturity of such Indebtedness is no earlier than the Stated Maturity of the Indebtedness being Refinanced, and 

 

	 	(4)	to the extent such Indebtedness directly or indirectly Refinances Indebtedness of a Restricted Subsidiary Incurred pursuant to clause (b)(5) of Section 4.09, such
Refinancing Indebtedness is Incurred only by such Restricted Subsidiary; 

 provided, however, that Refinancing
Indebtedness shall not include: 
 (y) Indebtedness of a Restricted Subsidiary that is not an Intermediate Guarantor, the Issuer
or an Additional Subsidiary Guarantor that Refinances Indebtedness of an Intermediate Guarantor, the Issuer or an Additional Subsidiary Guarantor, or 
 (z) Indebtedness of the Company or a Restricted Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary. 
 “Related Business” means any business related, ancillary or complementary to the businesses of the Company, the Intermediate Guarantors, the Issuer and the Restricted Subsidiaries on the
Closing Date including, without limitation, all forms of television, telephony and internet services and any services relating to carriers, networks, broadcast or communications services, or Content. 

“Representative” means the trustee, agent or representative (if any) for an issue of Senior Indebtedness. 

“Responsible Officer” means any officer within the corporate trust and agency department of the Trustee, including any
vice president, assistant vice president, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by such officers, or to whom any corporate trust matter is referred
because of such individual’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 
 “Restricted Subsidiary” means the Issuer and any Subsidiary of the Company other than an Unrestricted Subsidiary. 
 “S&P” means Standard and Poor’s Rating Service, a division of McGraw-Hill Companies, Inc. or any successor to its rating business. 

“Sale/Leaseback Transaction” means an arrangement relating to Property now owned or hereafter acquired by the Company or
any Restricted Subsidiary whereby the Company or any Restricted Subsidiary transfers such Property to a Person and the Company or such Restricted Subsidiary leases it from such Person, other than leases between the Company and any Restricted
Subsidiary or between Restricted Subsidiaries. 

  
 25 

 “SEC” means the U.S. Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness of any Person secured by a Lien. 

“Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Security Trustee” means the security trustee under the Intercreditor Deed or any successor thereto in its capacity as
trustee under the Intercreditor Deed or any Person acting in such capacity under an additional intercreditor deed relating to the Notes. 
 “Senior Guarantee” means the guarantee of the Notes by each of the Parent and the Intermediate Guarantors. 
 “Senior Guarantor” means the Parent and each Intermediate Guarantor. 
 “Senior Indebtedness” of the Issuer, an Intermediate Guarantor or either Senior Subordinated Subsidiary Guarantor means the principal of, premium (if any) and accrued and unpaid interest
on (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization of the Issuer or such guarantor, regardless of whether or not a claim for post-filing interest is allowed in such proceedings), and fees and
other amounts owing in respect of, Bank Indebtedness (including Hedging Obligations relating thereto) and all other Indebtedness of the Issuer or such guarantor, as applicable, whether outstanding on the Closing Date or thereafter Incurred, unless
in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such obligations are (a) subordinated in right of payment to the Notes, in the case of Indebtedness of the Issuer, (b) are
subordinated in right of payment to an Intermediate Guarantor’s Note Guarantee, in the case of Indebtedness of an Intermediate Guarantor, or (c) are subordinated in right of payment to, or rank equally with, either Senior Subordinated
Subsidiary Guarantee, in the case of Indebtedness of either Senior Subordinated Subsidiary Guarantor; provided, however, that Senior Indebtedness of the Issuer, an Intermediate Guarantor or a Subsidiary Guarantor shall not include:

 (1) any obligation of the Issuer, an Intermediate Guarantor or a Subsidiary Guarantor to the Company or any Restricted
Subsidiary; 
 (2) any liability for national, regional, state, local or other taxes owed or owing by the Issuer or a
guarantor, as applicable, other than as required by law; 
 (3) any accounts payable or other liability to trade creditors
arising in the ordinary course of business (including Guarantees thereof or instruments evidencing such liabilities); 
 (4)
any Indebtedness or obligation of the Issuer or such guarantor (and any accrued and unpaid interest in respect thereof) that by its terms is subordinate or junior in any respect to any other Indebtedness or obligation of the Issuer or such
guarantor, as applicable, including any Subordinated Obligations of the Issuer or such guarantor, as applicable; 
 (5) any
obligations with respect to any Capital Stock; or 
 (6) any Indebtedness Incurred in violation of this Indenture. 

“Senior Lenders” means a bank or financial institution or other person which has become a party to the Group
Intercreditor Deed as a Senior Lender, in accordance with the applicable provisions thereof. 
 “Senior
Liabilities” means all present and future obligations and liabilities of the obligors to the parties identified in the Group Intercreditor Deed. 

  
 26 

 “Senior Subordinated Indebtedness” of a Senior Subordinated Subsidiary
Guarantor means any Indebtedness of such Senior Subordinated Subsidiary Guarantor that specifically provides that such Indebtedness is to rank equally with the Senior Subordinated Subsidiary Guarantee of such Senior Subordinated Subsidiary Guarantor
in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of such Senior Subordinated Subsidiary Guarantor which is not Senior Indebtedness. 

“Senior Subordinated Subsidiary Guarantors” has the meaning assigned to it in the preamble to this Indenture. The
guarantee of the Notes by each Senior Subordinated Subsidiary Guarantor is referred to as a “Senior Subordinated Subsidiary Guarantee.” The Senior Subordinated Subsidiary Guarantees are subject to the provisions of the Intercreditor Deed.

 “Significant Subsidiary” means any Restricted Subsidiary which, together with the Restricted Subsidiaries of
such Restricted Subsidiary, accounted for more than 10% of the Consolidated Net Income or 10% of the Total Assets, in each case, for the most recently completed fiscal year. 
 “Standard Securitization Undertakings” means representations, warranties, covenants and indemnities entered into by the Company, the Issuer or any other Restricted Subsidiary that are
customary in an accounts receivable transaction. 
 “Stated Maturity” means, with respect to any security, the
date specified in such security as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such
security at the option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred). 
 “Sterling Equivalent” means with respect to any monetary amount in a currency other than pounds sterling, at any time of determination thereof, the amount of pounds sterling obtained by
converting such foreign currency involved in such computation into pounds sterling at the average of the spot rates for the purchase and sale of pounds sterling with the applicable foreign currency as quoted on or recorded in any recognized source
of foreign exchange rates within two Business Days prior to such determination. Whenever it is necessary to determine whether the Issuer has complied with any covenant in this Indenture or whether a Default has occurred and an amount is expressed in
a currency other than pounds sterling, such amount shall be treated as the Sterling Equivalent determined as of the date such amount is initially determined in such currency. 
 “Subordinated Obligation” means any Indebtedness of the Issuer or a Note Guarantor (whether outstanding on the Closing Date or thereafter Incurred) that is subordinate or junior in right
of payment to the Notes (in the case of the Issuer) or the Note Guarantee (in the case of a Note Guarantor) pursuant to a written agreement. 
 “Subsidiary” of any Person means any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other
interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by: 

 

	 	(1)	such Person, 

  

	 	(2)	such Person and one or more Subsidiaries of such Person, or 

  

	 	(3)	one or more Subsidiaries of such Person. 

  
 27 

 “Subsidiary Guarantee” means each Guarantee of the obligations with respect
to the Notes issued by a Subsidiary of the Issuer pursuant to the terms of this Indenture. 
 “Subsidiary
Guarantors” means the Senior Subordinated Subsidiary Guarantors and any Person that has issued an Additional Subsidiary Guarantee. 
 “Tax Sharing Agreement” means the tax cooperation agreement entered into with effect as of the 3rd day of March, 2006, by and between (i) Parent and (ii) VMIH and Telewest
Communications Networks Limited. 
 “Temporary Cash Investments” means any of the following: 

 

	 	(1)	any investment in direct obligations of any country that is a Member State or the United States of America or any agency thereof or obligations Guaranteed by any
country that is a Member State or the United States of America or any agency thereof, and whose long-term debt is rated “A” (or such similar equivalent rating) or higher by at least one nationally recognized statistical rating organization
(as defined in Rule 436 of the Securities Act); 

  

	 	(2)	investments in checking accounts, time deposit accounts, certificates of deposit, bankers’ acceptances and money market deposits maturing within one year of the
date of acquisition thereof issued by a bank or trust company that is organized under the laws of the United States of America, any state thereof or any foreign country recognized by the United States of America having capital, surplus and undivided
profits aggregating in excess of £250 million (or the foreign currency equivalent thereof) and whose long-term debt is rated “A” (or such similar equivalent rating) or higher by at least one nationally recognized statistical
rating organization (as defined in Rule 436 of the Securities Act); 

  

	 	(3)	repurchase obligations with a term of not more than 60 days for underlying securities of the types described in clause (1) above entered into with a bank meeting
the qualifications described in clause (2) above; 

  

	 	(4)	investments in commercial paper, maturing not more than 180 days after the date of acquisition, issued by a corporation (other than an Affiliate of the Issuer)
organized and in existence under the laws of the United States of America or any foreign country recognized by the United States with a rating at the time as of which any investment therein is made of “P-1” (or higher) according to
Moody’s or “A-1” (or higher) according to S&P; and 

  

	 	(5)	investments in securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any country that is a Member State, any state,
commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and rated at least “A” by S&P or “A” by Moody’s. 

“TIA” or “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939, as amended. 

  
 28 

 “Total Assets” means, as of any date of determination, the fixed assets and
current assets shown on the most recent Consolidated balance sheet of the Company as certified in an Officer’s Certificate delivered to the Trustee. 
 “Trade Payables” means, with respect to any Person, any accounts payable or any indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed by such Person
arising in the ordinary course of business in connection with the acquisition of goods or services. 
 “Treasury
Rate” means the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become
publicly available at least two Business Days (but not more than five Business Days) prior to the redemption date (or, if such Statistical Release is not so published or available, any publicly available source of similar market data selected by the
Company in good faith)) most nearly equal to the period from the redemption date to February 15, 2022; provided, however, that if the period from the redemption date to February 15, 2022 is not equal to the constant maturity
of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury
securities for which such yields are given, except that if the period from the redemption date to February 15, 2022 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant
maturity of one year shall be used. 
 “Trustee” means the party named as such in this Indenture until a
successor replaces it and, thereafter, means the successor. For purposes of Section 7.07, “Trustee” shall mean The Bank of New York Mellon and The Bank of New York Mellon (Luxembourg) S.A., each in all of its respective capacities
hereunder. 
 “Trust Officer” means the chairman of the board, the president or any other officer or assistant
officer of the Trustee assigned by the Trustee to administer its corporate trust matters. 
 “UK Holdco” has
the meaning assigned to it in the preamble to this Indenture. 
 “Unrestricted Subsidiary” means: 

 

	 	(1)	any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors in accordance with
Section 4.17; and 

  

	 	(2)	any Subsidiary of an Unrestricted Subsidiary. 

 “U.S. Government Obligations” means securities that are (a) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged or
(b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation of the United
States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with
respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by such custodian for the account of the holder of such depositary receipt; provided, however, that
(except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the
specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary receipt. 

  
 29 

 “Virgin Media Holding Company” means any Person of which the Issuer is a
Wholly Owned Subsidiary. 
 “VMIH” has the meaning assigned to it in the preamble to this Indenture.

 “VMIL” has the meaning assigned to it in the preamble to this Indenture. 

“Voting Stock” of a Person means all classes of Capital Stock or other interests (including partnership interests) of
such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 
 “Wholly Owned Subsidiary” means (1) in respect of any Person, a Person, all of the Capital Stock of which (other than directors’ qualifying shares or an immaterial amount of
shares required to be owned by other Persons pursuant to applicable law or to ensure limited liability) is owned by that Person directly or (2) indirectly by a Person that satisfies the requirements of clause (1). 

 

	 	Section 1.02	Other Definitions. 

  

			
	 Term
	  	Defined in
Section
		
	 “Additional Amounts”
	  	2.13
	 “Affiliate Transaction”
	  	4.11
	 “Allocable Excess Proceeds”
	  	4.10
	 “Authentication Order”
	  	2.02
	 “Covenant Defeasance”
	  	8.03
	 “DTC”
	  	2.03
	 “Directive”
	  	2.13
	 “Event of Default”
	  	6.01
	 “Excess Proceeds Offer”
	  	4.10
	 “Guaranteed Obligations”
	  	11.01
	 “Initial Lien”
	  	4.12
	 “Legal Defeasance”
	  	8.02
	 “Offer Amount”
	  	3.09
	 “Paying Agent”
	  	2.03
	 “Purchase Date”
	  	3.09
	 “Registrar”
	  	2.03
	 “Reinstatement Date”
	  	4.24
	 “Relevant Taxing Jurisdiction”
	  	2.13
	 “Repurchase Offer”
	  	4.15
	 “Restricted Payment”
	  	4.07
	 “Successor Company”
	  	5.01
	 “Successor Guarantor”
	  	5.01
	 “Suspended Covenants”
	  	4.24
	 “Suspension Date”
	  	4.24
	 “Suspension Period”
	  	4.24
	 “Tax Redemption Date”
	  	3.10
	 “Taxes”
	  	2.13

  
 30 

	 	Section 1.03	Incorporation by Reference of Trust Indenture Act. 

 Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. 

The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC; 
 “indenture securities” means the Notes; 
 “indenture
security Holder” means a Holder; 
 “indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the Notes means the Issuer and any successor obligor upon the Notes. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
under the TIA have the meanings so assigned to them. 
  

	 	Section 1.04	Rules of Construction. 

Unless the context otherwise requires: 
  

	 	(a)	a term has the meaning assigned to it; 

  

	 	(b)	an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

 

	 	(c)	“or” is not exclusive; 

  

	 	(d)	“including” means including without limitation; 

  

	 	(e)	words in the singular include the plural, and in the plural include the singular; 

 

	 	(f)	“will” shall be interpreted to express a command; 

  

	 	(g)	references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from
time to time; and 

  

	 	(h)	references to any person “acting reasonably” and correlative expressions shall be construed to mean “acting reasonably in the interests of the Holders
and having regard to the duties of the Trustee to the Holders.” 

  
 31 

 ARTICLE 2 
 THE NOTES 
  

	 	Section 2.01	Form and Dating. 

 (a)
General. The Notes shall be issued in series of senior unsecured notes consisting of 5.25% Senior Notes due 2022. The Notes and the Trustee’s certificate of authentication will be substantially in the form of Exhibit A hereto. The
Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication. The Notes shall be in minimum denominations of $200,000 and integral multiples of $1,000 in
excess thereof. 
 The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of
this Indenture and the Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express
provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b) Global Notes.
Notes issued in global form will be substantially in the form of Exhibit A attached hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in
definitive form will be substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note
will represent outstanding Notes of each such series as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby will be made by the Trustee or the Custodian therefor, at the direction of the Trustee, in accordance with Section 2.06 hereof. 

 

	 	Section 2.02	Execution and Authentication. 

 An Officer must sign the Notes for the Issuer by manual or facsimile signature. 

If the Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless
be valid. 
 A Note will not be valid until authenticated by the manual or facsimile signature of the Trustee. The signature
will be conclusive evidence that the Note has been authenticated under this Indenture. 
 On the Closing Date, the Trustee
shall, upon receipt of a written order of the Issuer signed by an Officer (an “Authentication Order”), authenticate the Initial Notes for original issue up to $500,000,000 in aggregate principal amount of 5.25% Senior Notes due 2022
and, upon delivery of any Authentication Order at any time and from time to time thereafter, the Trustee shall authenticate Additional Notes for original issue, or Definitive Notes issued pursuant to Section 2.06 hereof, in an aggregate
principal amount specified in such Authentication Order. 
 The Trustee may appoint an authenticating agent acceptable to the
Issuer to authenticate Notes. Any such appointment shall be evidenced by an instrument signed by a Responsible Officer, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, an authenticating

  
 32 

 
agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has
the same rights as an Agent to deal with Holders or an Affiliate of the Issuer. 
  

	 	Section 2.03	Registrar and Paying Agent. 

 The Issuer will maintain offices or agencies where Notes may be presented for registration of transfer or for exchange (each, a “Registrar”) and offices or agencies where Notes may be
presented for payment (each, a “Paying Agent”). Offices or agencies of the Registrar and Paying Agent for the Notes, will be maintained in the Borough of Manhattan, the City of New York, and, for so long as the Notes are listed on
the Luxembourg Stock Exchange and traded on the Euro MTF market of the Luxembourg Stock Exchange, in Luxembourg. The Registrar, acting as agent of the Issuer solely for this purpose, will keep a register of the Notes and of their transfer and
exchange. The Issuer may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent. The
Issuer may change any Paying Agent or Registrar without notice to any Holder. However, if and for so long as the Notes is listed on the Luxembourg Stock Exchange and traded on the Euro MTF market of the Luxembourg Stock Exchange and the rules of
such exchange so require, the Issuer will publish notice of the change in Paying Agent or Registrar in a daily leading newspaper with general circulation in Luxembourg (which is expected to be the Luxemburger Wort) or on the website of the
Luxembourg Stock Exchange (www.bourse.lu). The Issuer will notify the Trustee in writing of the name and address of any Paying Agent not a party to this Indenture. If the Issuer fails to appoint or maintain another entity as Registrar or Paying
Agent, the Trustee, acting as agent of the Issuer solely for this purpose, shall act as such. The Issuer or any of its Subsidiaries, acting as agent of the Issuer solely for this purpose, may act as Registrar. 

The Issuer initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Notes. A
nominee of The Bank of New York Mellon will act as Custodian with respect to the Global Notes. 
 The Issuer initially appoints
the Trustee to act as the Registrar and Paying Agent in New York and London and to act as Custodian with respect to the Global Notes, and initially appoints The Bank of New York Mellon (Luxembourg) S.A. to act as the Registrar and Paying Agent in
Luxembourg. 
  

	 	Section 2.04	Paying Agent to Hold Money in Trust. 

 The Issuer will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent
for the payment of principal, premium, if any, or interest on the Notes, and will notify the Trustee of any default by the Issuer in making any such payment. Money held in trust by a Paying Agent need not be segregated, except as required by law,
and in no event shall any Paying Agent be liable for interest on any money received by it hereunder. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may
require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying Agent. Upon payment over to the Trustee, the Paying Agent will have no further liability for the money. Upon any bankruptcy or
reorganization proceedings relating to the Issuer, the Trustee and The Bank of New York Mellon (Luxembourg) S.A. will serve as Paying Agents for the Notes. 
  

	 	Section 2.05	Holder Lists. 

 The
Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders and shall otherwise comply with TIA § 312(a). If

  
 33 

 
the Trustee is not the Registrar, the Issuer will furnish to the Trustee at least five Business Days before each interest payment date and at such other times as the Trustee may request in
writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders and the Issuer shall otherwise comply with TIA § 312(a). 

Neither the Trustee nor any of its Agents will have any responsibility or be liable for any aspect of the records in relation to, or
payments made on account of, beneficial ownership interests in the Global Notes or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

 

	 	Section 2.06	Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole except by the applicable Depositary to a
nominee of the applicable Depositary, by a nominee of the applicable Depositary to the applicable Depositary or to another nominee of the applicable Depositary, or by the applicable Depositary or any such nominee to a successor Depositary or a
nominee of such successor Depositary. All Global Notes of a series will be exchanged by the Issuer for Definitive Notes if: 
 (1) the Issuer delivers to the Trustee notice from the Depositary (i) that such Depositary is unwilling or unable to continue to act as Depositary and a successor Depositary is not appointed by the
Issuer within 120 days after the date of such notice from the Depositary or (ii) that such Depositary is no longer a clearing agency registered under the Exchange Act; or 

(2) there has occurred and is continuing an Event of Default with respect to such Global Note. 

Upon the occurrence of any of the events listed in the preceding clause (1) of this Section 2.06(a), or if the Issuer, in its
sole discretion, notifies the Trustee in writing that it elects to cause the issuance of Definitive Notes under this Indenture, the Issuer shall execute, and the Trustee shall, upon receipt of an Authentication Order, authenticate and deliver
Definitive Notes of the series and in an aggregate principal amount equal to the principal amount of the applicable Global Note tendered in exchange therefor. The Issuer will, at the cost of the Issuer (but against such indemnity as the Registrar or
any relevant Agent may require in respect of any tax or other duty of whatever nature which may be levied or imposed in connection with such exchange), cause sufficient Definitive Notes to be executed and delivered to the Trustee for authentication
and the Registrar for registration of the exchange and dispatch to the relevant Holders within 30 days of the relevant event. The Trustee or the Registrar shall, at the cost of the Issuer, deliver such Definitive Notes to the Persons in whose names
such Notes are so registered. Definitive Notes issued in exchange for beneficial interests in Global Notes pursuant to this Section 2.06(a) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to
instructions from its Participants or Indirect Participants or otherwise, shall instruct the Trustee. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a); however, beneficial interests in a Global
Note may be transferred and exchanged as provided in Section 2.06(b), (c), (d) or (e) hereof. 
 (b) Transfer
and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable
Procedures. 
 (c) Transfer or Exchange of Beneficial Interests for Definitive Notes. If any one of the events listed in
clause (1) of Section 2.06(a) has occurred or the Issuer has elected pursuant to Section 2.06(a) to cause the issuance of Definitive Notes, transfers or exchanges of beneficial interests in a Global Note for a Definitive Note shall be
effected. 

  
 34 

 If any Holder of a beneficial interest in a Global Note proposes to exchange such beneficial
interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then the Trustee will, upon instruction, cause the aggregate principal amount of the applicable Global
Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Issuer will execute and, upon receipt of an Authentication Order, the Trustee will authenticate and deliver to the Person designated in the instruction to the Trustee a
Definitive Note in the appropriate principal amount. Any Definitive Notes issued in exchange for a beneficial interest pursuant to this Section 2.06(c) will be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through instructions to the Registrar from or through the applicable Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the
Persons in whose names such Notes are so registered. 
 (d) Transfer and Exchange of Definitive Notes for Beneficial
Interests. A Holder of a Definitive Note may exchange such Definitive Note for a beneficial interest in a Global Note or transfer such Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a Global Note
at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of the relevant Global Note. 

(e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes, the Registrar
will register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written
instruction of transfer in form satisfactory to the Registrar and duly executed by such Holder or by its attorney, duly authorized in writing. 
 (f) Legends. The following legends will appear on the face of all Global Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. Each
Global Note will bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS
DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF
THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS 

  
 35 

 
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER
ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.” 
 (g) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and cancelled by the Trustee in
accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly
and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
 (h) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Issuer will execute and the Trustee will authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order or at the Registrar’s request. 
 (2) No
service charge will be made to a Holder of a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.09, 3.06, 3.09, 4.10, 4.15 and 9.05 hereof). 

(3) The Registrar will not be required to register the transfer of or exchange any Note selected for redemption in whole
or in part, except the unredeemed portion of any Note being redeemed in part. 
 (4) All Global Notes and
Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global
Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 
 (5) The Issuer will not
be required: 
 (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at
the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of selection; 

  
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 (B) to register the transfer of or to exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part; 
 (C) to
transfer or exchange any Note tendered and not withdrawn in connection with a Repurchase Offer or an Excess Proceeds Offer; or 
 (D) to register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date. 

(6) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuer may
deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the
Issuer shall be affected by notice to the contrary. 
 (7) The Trustee will authenticate Global Notes and
Definitive Notes in accordance with the provisions of Section 2.02 hereof. 
 (8) All certifications,
certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

 

	 	Section 2.07	Replacement Notes. 

 If
any mutilated Note is surrendered to the Trustee or the Issuer or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuer will issue and the Trustee, upon receipt of an Authentication Order, will
authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Issuer to protect the
Issuer, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Issuer may charge for its expenses in replacing a Note. 

If, after the delivery of such replacement Note, a bona fide purchaser of the original Note in lieu of which such replacement Note was
issued presents for payment or registration such original Note, the Trustee shall be entitled to recover such replacement Note from the Person to whom it was delivered or any Person taking therefrom, except a bona fide purchaser, and shall be
entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer, the Trustee, any Agent and any authenticating agent in connection therewith. 

Subject to the provisions of the final sentence of the preceding paragraph of this Section 2.07, every replacement Note is an
obligation of the Issuer and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 
  

	 	Section 2.08	Outstanding Notes. 

 The
Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note

  
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effected by the Trustee in accordance with the provisions hereof, and those described in this Section as not outstanding. Except as set forth in Section 2.09 hereof, a Note does not
cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note. 
 If a Note is replaced pursuant to
Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser in whose hands such Note is a legal, valid and binding obligation of the Issuer.

 If the entire principal amount and premium, if any, of any Note is considered paid under Section 4.01 hereof, it ceases
to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent holds, on a redemption date or maturity date,
money sufficient to pay Notes payable on that date, and is not prohibited from paying such money to the Holders pursuant to the terms of this Indenture, then on and after that date such Notes will be deemed to be no longer outstanding and will cease
to accrue interest. 
 For purposes of determining whether the Holders of the requisite principal amount of Notes have taken any
action as herein described, the principal amount of the Notes shall be deemed to be the Dollar Equivalent of such principal amount of the Notes as of (i) if a record date has been set with respect to the taking of such action, such date or
(ii) if no such record date has been set, the date the taking of such action by the Holders of such requisite principal amount is certified to the Trustee by the Issuer. 
 Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Holders in person or by an Agent duly appointed in writing or may be embodied in or evidenced by an electronic transmission which identifies the documents containing the proposal on which
such consent is requested and certifies such Holders’ consent thereto and agreement to be bound thereby; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to
the Trustee, and where it is hereby expressly required, to the Issuer. 
  

	 	Section 2.09	Treasury Notes. 

 In
determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, or by any Person directly or indirectly controlling or controlled by or under direct or indirect
common control with the Issuer, will be considered as though not outstanding to the extent required in order to qualify this Indenture under the TIA, except that for the purposes of determining whether the Trustee will be protected in relying on any
such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned will be so disregarded. 
  

	 	Section 2.10	Temporary Notes. 

 Until
certificates representing Notes are ready for delivery, the Issuer may prepare and the Trustee, upon receipt of an Authentication Order, will authenticate, temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but
may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee will authenticate Definitive Notes in exchange for
temporary Notes. 
 Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

  
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	 	Section 2.11	Cancellation. 

 The Issuer
at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel all
Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will dispose of such canceled Notes (subject to the record retention requirements of the Exchange Act) in its customary manner unless the Issuer
directs the Trustee to deliver canceled Notes to the Issuer. The Issuer may not issue new Notes to replace Notes that it has redeemed or paid or that have been delivered to the Trustee for cancellation. 

 

	 	Section 2.12	Defaulted Interest. 

 If
the Issuer defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, in accordance with the terms hereof, to the Persons who are
Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer will notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the
date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date in a manner reasonably satisfactory to the Trustee, provided that no such special record date may be less than 10 days
prior to the related payment date for such defaulted interest. At least 10 days before the special record date, the Issuer will mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the
amount of such interest to be paid. 
  

	 	Section 2.13	Additional Amounts. 

 (a)
All payments made under or with respect to the Notes or the Note Guarantees shall be made free and clear of, and without withholding or deduction for or on account of, any present or future tax, duty, levy, impost, assessment or other governmental
charge (including related penalties, interest and other liabilities) (hereinafter, “Taxes”) imposed or levied by or on behalf of (1) the government of the United Kingdom, (2) the United States, (3) any other jurisdiction in
which the Issuer or any Note Guarantor is organized or is otherwise resident for tax purposes, (4) any jurisdiction from or through which payment is made and (5) any political subdivision or governmental authority or agency of or in any of
the foregoing having the power to tax (each, a “Relevant Taxing Jurisdiction”), unless the Issuer or any Note Guarantor is required to withhold or deduct Taxes by law or by the interpretation or administration thereof. 

(b) If the Issuer or a Note Guarantor is so required to withhold or deduct any amount for or on account of Taxes imposed by a Relevant
Taxing Jurisdiction from any payment made under or with respect to the Notes or the Note Guarantees, the Issuer or the applicable Note Guarantor shall pay such additional amounts (“Additional Amounts”) as may be necessary so that the net
amount received by the Holders and beneficial owners (including Additional Amounts) after such withholding or deduction will not be less than the amount the Holders and beneficial owners would have received if such Taxes had not been withheld or
deducted; provided, however, that the foregoing obligation to pay Additional Amounts does not apply to: 

(1) any Taxes that would not have been so imposed but for the existence of any present or former connection between the
relevant Holder or beneficial owner (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of power over, the relevant Holder or beneficial owner, if the relevant Holder or beneficial owner is an estate, nominee,
trust, partnership or corporation) and the Relevant Taxing Jurisdiction (other than the mere receipt of such payment or the ownership or holding of such Note); 

  
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 (2) any estate, inheritance, gift, sales, excise, transfer, personal
property Tax or similar Tax; 
 (3) any Taxes which are payable otherwise than by withholding from payments of
(or in respect of) principal of, or any premium or interest on, the Notes; 
 (4) any Taxes that are imposed or
withheld by reason of the failure to comply by the Holder or the beneficial owner of a Note with a request by the Issuer addressed to the Holder or such beneficial owner (A) to provide information concerning the nationality, residence, identity
or present or former connection with a Relevant Taxing Jurisdiction of the Holder or such beneficial owner or (B) to make any declaration or other similar claim or satisfy any certification, information or reporting requirement, which, in the
case of (A) or (B), is required or imposed by a statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all or part of such Tax; 

(5) any withholding or deduction imposed on a payment to an individual required to be made pursuant to European Council
Directive 2003/48/EC or any other Directive implementing the conclusions of the ECOFIN Council meeting of November 26-27, 2000 on the taxation of savings income (the “Directive”) or any law implementing, or introduced in order to
conform to, such Directive; 
 (6) any Taxes that would not have been imposed but for the failure to present the
Note for payment within 30 days after the date on which such payment or such Note became due and payable or the date on which payment thereof is duly provided for, whichever is later (except to the extent that such beneficiary would have been
entitled to Additional Amounts had the Note been presented on the last day of the 30-day period); 
 (7) any
Taxes imposed with respect to any payment of principal of (or premium, if any on) or interest on such Note to any Holder who is a fiduciary or partnership or any Person other than the sole beneficial owner of such payment, to the extent that a
beneficiary or settlor with respect to such fiduciary, a member of such a partnership or the beneficial owner of such payment would not have been entitled to the Additional Amounts had such beneficiary, settlor, member or beneficial owner been the
actual Holder of such Note; 
 (8) any Taxes imposed if the Note is presented for payments by or on behalf of a
Holder or beneficial owner who would be able to avoid a withholding or deduction by presenting the relevant Note to another paying agent in a Member State; or 
 (9) any Taxes imposed as a result of a combination of items (1) through (8) above. 
 (c) If the Issuer or any Note Guarantor will be obligated to pay Additional Amounts with respect to any payment under or with respect to the Notes or the relevant Note Guarantee, as applicable, the Issuer
or such Note Guarantor, as applicable, will deliver to the Trustee at least 30 days prior to the date of that payment (unless the obligation to pay Additional Amounts arises after the 30th day prior to that payment date, in which case the Issuer or
the Note Guarantor, as applicable, shall notify the Trustee promptly thereafter but in no event later than two Business Days prior to the date of payment) notice of payment in the form of an Officer’s Certificate. In either circumstance, the
Officer’s Certificate must state that Additional Amounts will be payable and the amount so payable. The Officer’s Certificate must also set forth any other information necessary to enable the Paying Agent to pay Additional Amounts to
Holders and beneficial owners on the relevant payment date. 

  
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 (d) The Issuer or any Note Guarantor will (i) make such withholding or deduction and
(ii) remit the full amount deducted or withheld to the Relevant Taxing Jurisdiction in accordance with applicable law. The Issuer will provide the Trustee with official receipts or other documentation satisfactory to the Trustee evidencing the
payment of the Taxes with respect to which Additional Amounts are paid. Certificated copies of such receipts and such other documentation shall be made available to Holders upon request and will be made available at the offices of the Paying Agent
if the Notes are then listed on the Luxembourg Stock Exchange. The Issuer will attach to such copies an Officer’s Certificate stating (x) that the amount of withholding Taxes evidenced by such copies was paid in connection with any payment
made under or with respect to the Notes or any Note Guarantee and (y) the amount of such withholding Taxes paid per $1,000 of Notes. 
 (e) Whenever in this Indenture there is mentioned, in any context, the payment of principal, purchase prices in connection with a purchase of Notes, interest, or any other amount payable on or with
respect to any of the Notes or any Note Guarantee, that reference shall be deemed to include payment of Additional Amounts provided for in this section to the extent that, in such context, Additional Amounts are, were or would be payable in respect
thereof. 
 (f) The Issuer or a Note Guarantor will pay any present or future stamp, court or documentary taxes or any other
excise or property taxes, charges or similar levies that arise in any jurisdiction from the execution, delivery, enforcement or registration of the Notes, the Note Guarantees, this Indenture or any other related document or instrument, or the
receipt of any payments with respect to the Notes or the Note Guarantees, excluding taxes, charges or similar levies imposed by any jurisdiction that is not a Relevant Taxing Jurisdiction, and the Issuer will agree to indemnify the Holders or the
Trustee for any such taxes paid by the Holders or the Trustee. 
 (g) The preceding provisions of this Section 2.13 will
survive any termination, defeasance or discharge of this Indenture and shall apply mutatis mutandis to any jurisdiction in which any successor Person to the Issuer or any Note Guarantor is organized or any political subdivision or taxing
authority or agency thereof or therein. 
  

	 	Section 2.14	Currency Indemnity 

 (a)
The currency of account and payment for all sums, including damages, payable by the Issuer or any Note Guarantor under or in connection with the Notes, is U.S. dollars. Any amount received or recovered in a currency other than U.S. dollars, whether
as a result of, or the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or any Note Guarantor or otherwise by any Holder of a Note or by the Trustee, in respect of any sum expressed
to be due to it from the Issuer or any Note Guarantor will only constitute a discharge to the Issuer or any Note Guarantor to the extent of the U.S. dollar amount, which the recipient is able to purchase with the amount so received or recovered in
that other currency on the date of that receipt or recovery (or, if it is not practicable to make that purchase on that date, on the first date on which it is practicable to do so). 

(b) If that U.S. dollar amount is less than the U.S. dollar amount expressed to be due to the recipient or the Trustee under any Note,
the Issuer and any Note Guarantor will indemnify them against any loss sustained by such recipient as a result. In any event, the Issuer and any Note Guarantor will indemnify the recipient against the cost of making any such purchase. For the
purposes of this currency indemnity provision, it will be prima facie evidence of the matter stated therein for the Holder of a Note or the Trustee to certify in a manner satisfactory to the Issuer (indicating the sources of information used)
the loss it incurred in making any such purchase. These indemnities constitute a separate and independent obligation from the Issuer and any Note Guarantor’s other obligations, will give rise to a separate and independent cause of action, will
apply irrespective of any waiver granted by any Holder of a Note or the 

  
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Trustee (other than a waiver of the indemnities set out herein) and will continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of
any sum due under any Note or to the Trustee. 
 ARTICLE 3 

REDEMPTION AND PREPAYMENT 
  

	 	Section 3.01	Notices to Trustee. 

 If
the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the Trustee, at least 10 days but not more than 60 days before a redemption date, an Officer’s
Certificate setting forth: 
  

	 	(a)	the clause of this Indenture pursuant to which the redemption shall occur; 

 

	 	(b)	the record date for the redemption and the redemption date; 

  

	 	(c)	the principal amount of Notes to be redeemed; and 

  

	 	(d)	the redemption price. 

  

	 	Section 3.02	Selection of Notes to Be Redeemed or Purchased. 

 If less than all of the Notes are to be redeemed or purchased in an offer to purchase at any time, the Trustee will select Notes for redemption or purchase as follows: 

(a) if the applicable Notes are listed on any national securities exchange (including the Luxembourg Stock Exchange), in compliance with
the requirements of the principal national securities exchange on which they are listed; or 
 (b) if the applicable Notes are
not listed on any national securities exchange or the relevant national securities exchange does not have any applicable requirements, on a pro rata basis, by lot or by such method as the Trustee, in its sole discretion, shall deem fair and
appropriate, provided that no Notes of $200,000 in aggregate principal amount, as the case may be, or less shall be redeemed in part. 
 In the event of partial redemption or purchase by lot, the particular Notes to be redeemed or purchased will be selected, unless otherwise provided herein, not less than 10 nor more than 60 days
prior to the redemption or purchase date by the Trustee from the outstanding Notes not previously called for redemption or purchase. 
 The Trustee will promptly notify the Issuer and the Registrar (if not the Issuer) in writing of the Notes selected for redemption or purchase and, in the case of any Notes selected for partial redemption
or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in minimum amounts of $200,000 and integral multiples of $1,000 in excess thereof; except that if all of the Notes of a Holder are to
be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000 (in excess of $200,000) shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture
that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 

  
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	 	Section 3.03	Notice of Redemption. 

 At
least 10 days but not more than 60 days before a redemption date, the Issuer will mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that
redemption notices may be mailed more than 15 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes pursuant to Article 8 hereof or a satisfaction and discharge of this Indenture pursuant to
Article 10 hereof. So long as any series of the Notes is listed on the Luxembourg Stock Exchange and if required by the rules of the Luxembourg Stock Exchange, notice will be published in Luxembourg in a daily leading newspaper with general
circulation in Luxembourg (which is expected to be the Luxemburger Wort) or on the website of the Luxembourg Stock Exchange (www.bourse.lu). 
 The notice will identify the Notes to be redeemed and will state: 
 (a) the record
date for the redemption and the redemption date; 
 (b) the redemption price; 

(c) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption
date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of the original Note; 
 (d) the name and address of the Paying Agent; 
 (e) that Notes called for
redemption must be surrendered to the Paying Agent to collect the redemption price; 
 (f) that, unless the Issuer defaults in
making such redemption payment or the relevant Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture, interest on Notes called for redemption ceases to accrue on and after the redemption date; 

(g) the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being
redeemed; and 
 (h) that no representation is made as to the correctness or accuracy of the CUSIP or ISIN, if any, listed in
such notice or printed on the Notes. 
 At the Issuer’s request, the Trustee will give the notice of redemption in the
Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee, at least 45 days prior to the redemption date (unless a shorter period shall be acceptable to the Trustee in its sole discretion), an
Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

 

	 	Section 3.04	Effect of Notice of Redemption. 

 Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. Failure to
give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 

  
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	 	Section 3.05	Deposit of Redemption or Purchase Price. 

 No later than one Business Day prior to the redemption or purchase price date, the Issuer will deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of
and accrued and unpaid interest, if any, and Additional Amounts, if any, on all Notes to be redeemed or purchased on that date other than Notes or portions of Notes called for redemption that have been delivered by the Issuer to the Trustee for
cancellation. The Trustee or the Paying Agent will promptly return to the Issuer any money deposited with the Trustee or the Paying Agent by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued and
unpaid interest, if any, and Additional Amounts, if any, on, all Notes to be redeemed or purchased. 
 Neither the Trustee nor
any Agent shall be required to pay out any money without first having been placed in funds. 
 If the Issuer complies with the
provisions of the first paragraph of the Section 3.05, on and after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase unless the relevant Paying Agent is
prohibited from making such redemption payment pursuant to the terms of this Indenture. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest
shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the
Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each
case at the rate provided in the Notes and in Section 4.01 hereof. 
  

	 	Section 3.06	Notes Redeemed or Purchased in Part. 

 Upon surrender of a Note that is redeemed or purchased in part, the Issuer will issue and, upon receipt of an Authentication Order, the Trustee will authenticate for the Holder at the expense of the
Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered. 
  

	 	Section 3.07	Optional Redemption with Make-Whole. 

 The Issuer may also choose to redeem the Notes, in whole or in part, on not less than 10 nor more than 60 days’ prior notice, by paying a redemption price equal to the sum of: 

(a) 100% of the principal amount of the Notes to be redeemed, plus 

(b) the Applicable Premium, 

plus accrued and unpaid interest thereon, if any, to the redemption date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). 
  

	 	Section 3.08	Mandatory Redemption. 

The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

  
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	 	Section 3.09	Offer to Purchase by Application of Excess Proceeds. 

 In the event that, pursuant to Section 4.10 hereof, the Issuer is required to commence an offer to all Holders to purchase Notes (as defined in Section 4.10(b), an “Excess Proceeds
Offer”), it shall follow the procedures specified below. 
 The Excess Proceeds Offer shall be made to all Holders at a
purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to the purchase date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant
interest payment date as set forth below). As promptly as practicable following termination of the offer period (the “Purchase Date”), the Issuer shall apply all Allocable Excess Proceeds (the “Offer Amount”) to the
purchase of Notes or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Excess Proceeds Offer. Payment for any Notes so purchased will be made in the same manner as interest payments are made. 

If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid
interest, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Excess Proceeds Offer. 

Upon the commencement of an Excess Proceeds Offer, the Issuer will send or cause to be sent, by first class mail, to the Trustee and each
of the Holders at the address appearing in the security register, a notice stating: 
 (a) that the Excess Proceeds Offer is
being made pursuant to this Section 3.09 and Section 4.10 hereof and the length of time the Excess Proceeds Offer will remain open; 
 (b) the Offer Amount, the purchase price and the Purchase Date; 
 (c) that any
Note not tendered or accepted for payment will continue to accrue interest; 
 (d) that, unless the Issuer defaults in making
such payment, any Note accepted for payment pursuant to the Excess Proceeds Offer will cease to accrue interest after the Purchase Date; 
 (e) that Holders electing to have a Note purchased pursuant to an Excess Proceeds Offer may elect to have Notes purchased only in minimum denominations of $200,000 and in integral multiples of $1,000 in
excess thereof, except that a Holder may elect to have all of the Notes held by such Holder purchased even if not an integral multiple of $1,000 (in excess of $200,000); 
 (f) that Holders electing to have a Note purchased pursuant to any Excess Proceeds Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase”
attached to the Note completed, or transfer by book-entry transfer, to the Issuer, a Depositary, if appointed by the Issuer, or a Paying Agent at the address specified in the notice at least three days before the Purchase Date; 

(g) the procedure for withdrawing an election to tender; 
 (h) that, if the aggregate principal amount of Notes surrendered by Holders exceeds the Offer Amount, the Issuer will select the Notes to be purchased on a pro rata basis based on the principal
amount of Notes surrendered (with such adjustments as may be deemed appropriate by the Issuer so that only Notes in minimum denominations of $200,000 or integral multiples of $1,000 in excess will be purchased); and 

  
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 (i) that Holders whose Notes were purchased only in part will be issued new Notes equal in
principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
 On or before
the Purchase Date, the Issuer shall, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Excess Proceeds Offer, or if less than the
Offer Amount has been tendered, all Notes tendered, and shall deliver to the Trustee an Officer’s Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance with the terms of this
Section 3.09. The Issuer, the Depositary or the Paying Agent, as the case may be, shall promptly (but in any case not later than five Business Days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to the
purchase price of the Notes tendered by such Holder and accepted by the Issuer for purchase, and the Issuer shall promptly issue a new Note, and the Trustee, upon written request from the Issuer will authenticate and mail or deliver such new Note to
such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Issuer to the Holder thereof. The Issuer will publicly announce the results of the
Excess Proceeds Offer on the Purchase Date. 
 Other than as specifically provided in this Section 3.09, any purchase
pursuant to this Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 
  

	 	Section 3.10	Redemption of Notes for Changes in Withholding Taxes. 

 The Issuer may, at its option, redeem all, but not less than all, of the then-outstanding Notes at any time upon giving not less than 10 nor more than 60 days’ notice to the Holders (which notice
shall be irrevocable), at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to the redemption date (a “Tax Redemption Date”) and all Additional Amounts, if any, that
will become due on the Tax Redemption Date as a result of such redemption or otherwise (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if the Issuer determines in
good faith that (a) it, or any Note Guarantor with respect to a Note Guarantee, as the case may be, has become obligated or, on the occasion of the next payment due in respect of the Notes, would be obligated to pay Additional Amounts with
respect to any payment under or with respect to the Notes or the relevant Note Guarantee, as applicable, and (b) the payment obligation cannot be avoided by the Issuer taking reasonable measures available to it (including making payment through
a paying agent located in another jurisdiction), as a result of: 
 (1) any change in, or amendment to, the laws
or treaties (or any regulations, protocols or rulings promulgated thereunder) of the United Kingdom, the United States or any other Relevant Taxing Jurisdiction affecting taxation, which change or amendment becomes effective on or after the date of
issuance of such Note or Guarantee, or 
 (2) any change in position regarding the application, administration or
interpretation of such laws, treaties, regulations, protocols or rulings (including a holding, judgment or order by a court of competent jurisdiction), which change in position becomes effective on or after the date of issuance of such Note or
Guarantee. 
 The notice of redemption may not be given (a) earlier than 90 days prior to the earliest date on which the
Issuer would be obligated to make a payment or withholding if a payment in respect of the 

  
 46 

 
Notes were then due and (b) unless at the time such notice is given, such obligation to pay such Additional Amounts remains in effect. Prior to the publication or, where relevant, mailing of
any notice of redemption of the Notes pursuant to the foregoing, the Issuer will deliver to the Trustee an Officer’s Certificate and Opinion of Counsel to the effect that the circumstances referred to above exist and the Issuer cannot avoid the
obligation by taking reasonable measures available to it. The Trustee shall accept the Officer’s Certificate and Opinion of Counsel as sufficient evidence of the satisfaction of the conditions precedent described above. 

ARTICLE 4 

COVENANTS 
  

	 	Section 4.01	Payment of Notes. 

 The
Issuer shall pay or cause to be paid the principal of, premium, if any, and interest and Additional Amounts, if any, on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest and Additional Amounts,
if any, will be considered paid on the date due if the Paying Agent holds, as of 10:00 AM New York time on the due date, money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal, premium and
Additional Amounts, if any, and interest then due and is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture or the Intercreditor Deed. 

The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the
rate equal to the then applicable interest rate on the Notes. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace
periods) at the same rate. 
 If a Paying Agent pays out funds on or after the due date therefor, or pays out funds (although it
is not obligated) on the assumption that the corresponding payment by the Issuer has been or will be made and such payment has in fact not been so made by the Issuer, then the Issuer shall on demand reimburse the Paying Agent for the relevant
amount, and pay interest to the Paying Agent on such amount from the date on which it is paid out to the date of reimbursement at a rate per annum equal to the cost to the Paying Agent of funding the amount paid out, as certified by the Paying Agent
and expressed as a rate per annum. 
  

	 	Section 4.02	Maintenance of Office or Agency. 

 The Issuer shall maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee, Registrar or co-registrar) in the Borough of Manhattan, the City of New York, and, for
so long as the Notes are listed on the Luxembourg Stock Exchange, in Luxembourg, where (1) Notes may be surrendered for registration of transfer or for exchange and (2) notices and demands to or upon the Issuer in respect of the Notes and
this Indenture may be served. The Issuer will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. 
 The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such
designations; provided, however, that no such designation or rescission will in any manner relieve the Issuer of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York and London, England, and for so
long as any Notes are listed on the Luxembourg Stock Exchange, in Luxembourg, for such purposes. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other
office or agency. 

  
 47 

	 	Section 4.03	Ongoing Reporting. 

 (a)
So long as the Notes are outstanding, the Company will furnish to the Trustee, within the time periods specified in the SEC’s rules and regulations, without cost to the Trustee (who, at the Issuer’s expense, will furnish by mail to the
Holders); provided, however, that to the extent any reports are filed on the SEC’s website, such reports shall be deemed to be furnished to the Trustee and the Holders: 

(1) whether or not required by SEC rules and regulations, quarterly and annual reports of the Parent, containing
substantially the same information required to be contained in a Quarterly Report on Form 10-Q or an Annual Report on Form 10-K, as applicable, under the Exchange Act, including financial statements prepared in accordance with generally accepted
accounting principles in the United States or, if permitted by the SEC, international financial reporting standards, and a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (except with respect to
(i) guarantor financial statements, but including condensed information complying with Rule 3-10(d) of Regulation S-X of the SEC and (ii) financial statements required pursuant to Rule 3-16 of Regulation S-X of the SEC); provided,
however, that only to the extent reasonably available, at any time that any of Parent’s Subsidiaries is an Unrestricted Subsidiary that is a Significant Subsidiary or would in combination with other Unrestricted Subsidiaries be a
Significant Subsidiary, the quarterly and annual financial information required by this paragraph will include a presentation, either on the face of the financial statements, in the footnotes thereto, or in “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” or other comparable section, of the financial condition and results of operations of Parent and the Restricted Subsidiaries separate from the financial condition and results of
operations of the Unrestricted Subsidiaries of Parent; and 
 (2) such other reports containing substantially the
same information required to be contained in a Current Report on Form 8-K under the Exchange Act, as in effect on the Closing Date. 
 The Parent will also make available copies of all reports required by clauses (1) and (2) above on its website. 
 (b) The Issuer will at all times comply with TIA §314(a). 
  

	 	Section 4.04	Compliance Certificates. 

The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating
that in the course of the performance by the signer thereof of his or her duties as an Officer of the Issuer he or she would normally have knowledge of any Default and whether or not the signer knows of any Default that occurred during such period
(and, if a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Issuer is taking or proposes to take with respect thereto). The Issuer shall otherwise
comply with Section 314(a)(4) of the TIA. 
  

	 	Section 4.05	Taxes. 

 The Company and
the Issuer shall pay, and the Company and the Parent shall cause each Restricted Subsidiary to pay, prior to delinquency, all Taxes except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment
is not adverse in any material respect to the Holders. 

  
 48 

	 	Section 4.06	[Intentionally Omitted] 

  

	 	Section 4.07	Restricted Payments. 

 (a)
The Company will not, and will not permit any Restricted Subsidiary, directly or indirectly, to: 
 (1) declare
or pay any dividend, make any distribution on or in respect of its Capital Stock or make any similar payment to the direct or indirect holders of its Capital Stock, except (A) pro rata dividends or distributions payable solely in its Capital
Stock (other than Disqualified Stock) and (B) dividends, distributions or any similar payment payable to the Company or any other Restricted Subsidiary (and, if the Company or such Restricted Subsidiary has shareholders other than the Company,
the Issuer or other Restricted Subsidiaries, to its other shareholders on a basis that is no more favorable to such other shareholders than a pro rata basis); 
 (2) purchase, repurchase, redeem, retire or otherwise acquire for value any Capital Stock of the Company; 
 (3) purchase, repurchase, redeem, retire, defease or otherwise acquire for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment any Subordinated Obligations (other
than (a) Subordinated Obligations owed to the Issuer or any Intermediate Guarantor and (b) the purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of Subordinated Obligations of the Company or any
Restricted Subsidiary acquired in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case, due within one year of the date of acquisition); or 

(4) make any Investment (other than a Permitted Investment) in any Person 

(any such dividend, distribution, payment, purchase, redemption, repurchase, defeasance, retirement, or other acquisition or Investment being herein
referred to as a “Restricted Payment”), if at the time the Company or such Restricted Subsidiary makes such Restricted Payment: 
 (A) a Default will have occurred and be continuing (or would result therefrom); 
 (B) the Company could not Incur at least £1.00 of additional Indebtedness under paragraph (a) of Section 4.09; or 

(C) the aggregate amount of such Restricted Payment and all other Restricted Payments (the amount so expended, if other
than in cash, to be determined in good faith by the Board of Directors) declared or made subsequent to July 25, 2006 would exceed the sum of: 
 (i) an amount equal to 100% of EBITDA since the Merger Date to the end of the most recent fiscal quarter, taken as a single accounting period, less the product of 1.4 times the Consolidated Interest
Expense since the Merger Date to the end of the most recent fiscal quarter, taken as a single accounting period; 
 (ii) the proceeds received by the Company from the issue or sale of its Capital Stock (other than Disqualified Stock) subsequent to July 25, 2006 (other than an issuance or sale to (x) the
Company or a Subsidiary of the Company or (y) an employee share ownership plan or other trust to the extent funded or required to be funded by the Company or any of its Subsidiaries); 

  
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 (iii) the amount by which Indebtedness of the Company or its Restricted
Subsidiaries is reduced on the Company’s Consolidated balance sheet upon the conversion or exchange of any Indebtedness of any Intermediate Guarantor or the Issuer issued after July 25, 2006 which is convertible or exchangeable for Capital
Stock (other than Disqualified Stock) of the Company issued to Persons not including the Company or any Restricted Subsidiary (less the amount of any cash or the Fair Market Value of other Property distributed by the Company or any Restricted
Subsidiary upon such conversion or exchange); and 
 (iv) without duplication, the sum of 

 

	 	(x)	the aggregate amount returned to the Company, the Issuer or any other Restricted Subsidiary in cash on or with respect to Investments (other than Permitted Investments)
made subsequent to July 25, 2006 whether through interest payments, principal payments, dividends or other distributions; 

  

	 	(y)	the net proceeds received and retained by the Company or any Restricted Subsidiary from the disposition, retirement or redemption of all or any portion of such
Investments (other than Permitted Investments and other than to the Company or any Restricted Subsidiary); and 

  

	 	(z)	upon redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary subsequent to July 25, 2006, in accordance with Section 4.17, the Fair Market
Value (valued as provided in the definition of “Investment”) of the net assets of such Subsidiary; 

provided, however, that the amount under this clause (iv) shall not exceed the aggregate amount of all such Investments
(other than Permitted Investments) made subsequent to July 25, 2006 (and treated as a Restricted Payment) by the Company or any Restricted Subsidiary in such Person, which amount was included in the calculation of the amount of Restricted
Payments. 
 For purposes of calculating the aggregate amount of Restricted Payments in Section 4.07(a)(C) above declared
or made subsequent to July 25, 2006 and prior to the date of this Indenture, any Restricted Payment which was not included in the calculation of the amount of Restricted Payments under Section 4.07(a)(C) of the 2006 Indenture shall also
not be included in such calculation under Section 4.07(a)(C). 
 (b) The provisions of the foregoing paragraph
(a) will not prohibit: 
 (1) any purchase, repurchase, redemption, retirement or other acquisition for
value of Capital Stock or Disqualified Stock of the Company or any Restricted Subsidiary made by exchange for, or out of the proceeds of the sale within 90 days of, Capital Stock or Disqualified Stock of, the Company (other than Capital Stock issued
or sold to the Company or any of its Subsidiaries or an employee share ownership plan or other trust to the extent funded by the Company or any of its Subsidiaries) or through a substantially concurrent contribution to the equity of the Company;
provided, however, that: 
 (A) such purchase, repurchase, redemption, retirement or other
acquisition for value will be excluded in the calculation of the amount of Restricted Payments, and 

  
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 (B) the Net Cash Proceeds from such sale applied in the manner set forth in
this clause (1) will be excluded from the calculation of amounts under clause (C)(ii) of paragraph (a) above; 
 (2) any prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of Subordinated Obligations of the Company or any Restricted Subsidiary made by
exchange for, or out of the proceeds of the sale within 90 days of, Indebtedness of the Company or such Restricted Subsidiary that is permitted to be Incurred pursuant to Section 4.09 and that is subordinated to the Notes to at least the
same extent as such Subordinated Obligations or any Restricted Payment made to facilitate such transaction; provided, however, that such prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other
acquisition for value will be excluded from the calculation of the amount of Restricted Payments; 
 (3) any
prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of Subordinated Obligations of the Company or any Restricted Subsidiary from Net Available Cash to the extent permitted by
Section 4.10 or any Restricted Payment made to facilitate such transaction; provided, however, that such prepayment, repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value will be
excluded from the calculation of the amount of Restricted Payments; 
 (4) any prepayment, repayment, purchase,
repurchase, redemption, retirement, defeasance or other acquisition for value of Subordinated Obligations of the Company or any Restricted Subsidiary made by exchange for, or out of the proceeds of the substantially concurrent sale of, Subordinated
Obligations of the Company or any Restricted Subsidiary that qualifies as Refinancing Indebtedness or any Restricted Payment made to facilitate such transaction; provided, however, that such prepayment, repayment, purchase, repurchase,
redemption, retirement, defeasance or other acquisition for value will be excluded from the calculation of the amount of Restricted Payments; 
 (5) dividends paid within 60 days after the date of declaration thereof if at such date of declaration such dividends would have complied with this Section 4.07; provided, however, that
such dividends will be included (without duplication) in the calculation of the amount of Restricted Payments; 

(6) any purchase, repurchase, redemption, retirement or other acquisition for value of Capital Stock, or options to
purchase Capital Stock, of the Company or any of its Restricted Subsidiaries from employees, former employees, directors or former directors or consultants of the Company or any of its Subsidiaries (or permitted transferees of such employees, former
employees, directors or former directors or consultants), pursuant to the terms of agreements (including employment agreements) or plans (or amendments thereto) under which such individuals purchase or sell or are granted the option to purchase or
sell, shares of such Capital Stock; provided, however, that the aggregate amount of such purchases, repurchases, redemptions, retirements and other acquisitions for value will not exceed £20 million in any calendar year;
provided further, that such purchases, repurchases, redemptions, retirements and other acquisitions for value will be included in the calculation of the amount of Restricted Payments; 

  
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 (7) any payment of dividends, other distributions or other amounts by the
Company for the purposes set forth in clauses (A) and (B) below; provided, however, that such dividends, distributions or other payments will be excluded from the calculation of the amount of Restricted Payments: 

(A) to a Virgin Media Holding Company in amounts required for such Virgin Media Holding Company to pay taxes and other
fees or amounts required to maintain its corporate existence and provide for other expenses in an aggregate amount of up to £50 million per year; and 

(B) amounts payable for any income or corporate taxes or pursuant to the Tax Sharing Agreement; 

(8) any purchase, repurchase, redemption, retirement or other acquisition for value of Capital Stock deemed to occur upon
exercise of options, warrants or other securities, if such Capital Stock represents a portion of the exercise price of such options, warrants or other securities; provided, however, that such purchase, repurchase, redemption, retirement or
other acquisition for value will be excluded from the calculation of the amount of Restricted Payments; 
 (9)
after the designation of any Restricted Subsidiary as an Unrestricted Subsidiary, distributions (including by way of dividend) consisting of cash, Capital Stock or Property of such Unrestricted Subsidiary that in each case is held by the Company,
the Issuer or any Restricted Subsidiary; provided, however, that (x) such distribution or disposition shall include the concurrent transfer of all liabilities (contingent or otherwise) attributable to the Property being
transferred; (y) any Property received from any Unrestricted Subsidiary (other than Capital Stock issued by any Unrestricted Subsidiary) may be transferred by way of distribution or disposition pursuant to this clause (9) only if such
Property, together with all related liabilities, is so transferred in a transaction that is substantially concurrent with the receipt of the proceeds of such distribution or disposition by the Company or such Restricted Subsidiary; and (z) such
distribution or disposition shall not, after giving effect to any related agreements, result nor be likely to result in any material liability, tax or other adverse consequences to the Company and its Restricted Subsidiaries on a consolidated basis;
provided further, however, that such distributions will be excluded from the calculation of the amount of Restricted Payments, it being understood that proceeds from the disposition of any cash, Capital Stock or Property of an
Unrestricted Subsidiary that are so distributed will not increase the amount of Restricted Payments permitted under clause (a)(C)(iv) above; 
 (10) dividends on common stock of the Company up to £60 million per year; provided, in each case, that such Restricted Payments will be included in the calculation of the amount of
Restricted Payments; 
 (11) payments of any Receivables Fees; provided, however, that such
Restricted Payments will be excluded from the calculation of the amount of Restricted Payments; 
 (12) any
Restricted Payment used to make payments of interest with respect to (i) the Convertible Senior Notes; and (ii) any other Indebtedness of the Parent or any of its Subsidiaries, provided that the net proceeds of any such other
Indebtedness described in clause (ii) are or (A) were used in prepayment, repayment, redemption, defeasance, retirement or purchase of Bank Indebtedness, the Existing Senior Secured Notes, the Existing Notes, the Notes or any other
Indebtedness of any Restricted Subsidiary of the Issuer or any Senior Indebtedness or any Indebtedness of the Issuer that is pari passu in right of payment with the Notes (in each case, in

  
 52 

 
whole or in part); or (B) contributed to or otherwise loaned or transferred to the Company or any Restricted Subsidiary, provided that any such Restricted Payments will be excluded
from the calculation of the amount of Restricted Payments; 
 (13) any Content Transaction, provided that, after
giving pro forma effect thereto, the Company could Incur at least £1.00 of additional Indebtedness under paragraph (a) of Section 4.09; provided, further, however, that such Restricted Payments will be excluded from the
calculation of the amount of Restricted Payments; 
 (14) any Business Division Transaction, provided that
after giving pro forma effect thereto, the Company could Incur at least £1.00 of additional Indebtedness under paragraph (a) of Section 4.09; 
 (15) any Restricted Payment from the Company or any Restricted Subsidiary to the Parent or any other Subsidiary of the Parent which is not a Restricted Subsidiary; provided that such Subsidiary
advances the proceeds of any such Restricted Payment to the Company or any other Restricted Subsidiary, as applicable, within 3 days of receipt thereof and that such Restricted Payments do not exceed an amount equal to ten per cent (10%) of
Total Assets at any one time; provided further that such Restricted Payments will be excluded from the calculation of the amount of Restricted Payments; and 

(16) any other Restricted Payments in an aggregate amount, when taken together with all other Restricted Payments made
pursuant to this clause (16), not to exceed £75 million; provided, however, that (A) such Restricted Payments will be included in the calculation of the amount of Restricted Payments and (B) at the time of any Restricted
Payment referred to in this clause (16), no Default or Event of Default has occurred and is continuing (or would result from such Restricted Payment). 
  

	 	Section 4.08	Restrictions on Distributions from Restricted Subsidiaries. 

 (a) The Company will not permit any Restricted Subsidiary (other than the Issuer or any Intermediate Guarantor) to create or otherwise cause or permit to exist or become effective any consensual
encumbrance or restriction on the ability of any Restricted Subsidiary (other than the Issuer or any Intermediate Guarantor) to: 
 (1) pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness or other obligations owed to the Company or any Restricted Subsidiary of which it is a Subsidiary;

 (2) make any loans or advances to the Company or any Restricted Subsidiary of which it is a Subsidiary; or

 (3) transfer any of its Property or assets to the Company or any Restricted Subsidiary of which it is a
Subsidiary. 
 (b) The provisions of Section 4.08(a) will not prohibit: 

(A) any encumbrance or restriction pursuant to (i) applicable law, rule, regulation, order or governmental license,
permit or concession or (ii) an agreement in effect on the Closing Date (including this Indenture, the Existing Credit Facility, the Intercreditor Deed and the Group Intercreditor Deed and the indentures governing the Existing Notes);

  
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 (B) in respect of a Restricted Subsidiary acquired by the Company, the
Issuer or any Restricted Subsidiary after the Closing Date, any encumbrance or restriction with respect to such Restricted Subsidiary arising prior to the date on which such Restricted Subsidiary was acquired by the Company or any Restricted
Subsidiary (other than an encumbrance relating to Indebtedness Incurred as consideration for, in contemplation of, or to provide all or any portion of the funds or credit support utilized to, consummate the transaction or series of related
transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was otherwise acquired by the Company or any Restricted Subsidiary) and outstanding on such date; 

(C) any encumbrance or restriction pursuant to an agreement effecting a Refinancing of Indebtedness Incurred pursuant to
an agreement referred to in clause (A) or (B) of this Section 4.08(b) or this clause (C) or contained in any amendment or modification to an agreement referred to in clause (A) or (B) of this Section 4.08(b) or
this clause (C); provided, however, that the encumbrances and restrictions, taken as a whole, contained in any such Refinancing agreement or amendment or modification are no less favorable in any material respect to the Holders than
the encumbrances and restrictions contained in such predecessor agreements; 
 (D) in the case of
Section 4.08(a)(3), any encumbrance or restriction 
 (i) that restricts in a customary manner the subletting, assignment
or transfer of any Property or asset that is subject to a lease, license or similar contract, 
 (ii) encumbering Property at
the time such Property was acquired by the Company or any Restricted Subsidiary so long as such restriction relates solely to the Property so acquired (other than any encumbrance or restriction created as consideration for, in contemplation of, in
connection with or pursuant to the provision of, all or any portion of the funds or credit support utilized to consummate the transaction or series of related transactions pursuant to which such Property was otherwise acquired by the Company or any
Restricted Subsidiary), 
 (iii) under agreements relating to Purchase Money Indebtedness or Capitalized Lease Obligations
Incurred that impose customary restrictions on the Property subject to such Purchase Money Indebtedness or Capitalized Lease Obligations, 
 (iv) relating to Indebtedness that is permitted to be Incurred and secured without also securing the Notes or the applicable Note Guarantee pursuant to Section 4.09 and Section 4.12 that limit
the right of the debtor to dispose of the Property securing such Indebtedness, or 
 (v) customarily imposed on the transfer of
copyrighted or patented materials or other intellectual property and customer provisions in agreements that restrict the assignment of such agreements or any rights thereunder; 

(E) any encumbrance created in connection with a Qualified Receivables Transaction permitted under Section 4.09;

  
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 (F) any customary encumbrance or restriction imposed with respect to a
Restricted Subsidiary pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; 

(G) any customary encumbrance or restriction on cash or other deposits or net worth imposed on customers under contracts
entered into in the ordinary course of business; 
 (H) any encumbrance or restriction pursuant to an agreement
governing (i) any Bank Indebtedness of the Company or a Restricted Subsidiary or any Pari Passu Lien Obligations permitted to be Incurred under this Indenture, and (ii) any Indebtedness permitted to be Incurred pursuant to clause
(a) of Section 4.09 if the encumbrances and restrictions contained in any such agreement, taken as a whole, do not materially prejudice the ability of the Issuer to make payments on the Notes; 

(I) encumbrances or restrictions existing under or by reason of provisions in asset sale agreements entered into in the
ordinary course of business; and 
 (J) encumbrances or restrictions existing under or by reason of provisions
in joint venture arrangements and other similar arrangements or arrangements with minority interests in any Restricted Subsidiary. 
  

	 	Section 4.09	Incurrence of Indebtedness. 

 (a) The Company will not, and will not cause or permit any Restricted Subsidiary to, Incur, directly or indirectly, any Indebtedness; provided, however, that the Company and any Restricted
Subsidiary may Incur Indebtedness if on the date of such Incurrence and after giving effect thereto the Leverage Ratio would not exceed 5.5:1.0. 
 (b) Notwithstanding the foregoing paragraph (a), the Company and any Restricted Subsidiary may Incur the following Indebtedness: 

(1) Bank Indebtedness (including, without limitation, Bank Indebtedness Incurred under the Existing Credit Facility) or
any Pari Passu Lien Obligation (including, without limitation, the Existing Senior Secured Notes) in an aggregate principal amount at any one time outstanding not exceeding £5,300,000,000; 

(2) Indebtedness of the Company owed to and held by any Restricted Subsidiary or Indebtedness of a Restricted Subsidiary
owed to and held by the Company or any Restricted Subsidiary; provided, however, that (A) any subsequent issuance or transfer of any Capital Stock or any subsequent transfer of such Indebtedness or any other event that results in
any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary shall be deemed to constitute the Incurrence of such Indebtedness by the obligor thereon, (B) if an Intermediate Guarantor is the obligor on such
Indebtedness, such Indebtedness is expressly subordinated for the benefit of the Holders to the prior payment in full in cash of all obligations with respect to the relevant Intermediate Guarantee and (C) if the Issuer is the obligor on such
Indebtedness, such Indebtedness is expressly subordinated for the benefit of the Holders to the prior payment in full in cash of all obligations with respect to the Notes; 

  
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 (3) Indebtedness (A) represented by the Notes (not including any
Additional Notes), (B) represented by the Intermediate Guarantees and the Senior Subordinated Subsidiary Guarantees, and (C) outstanding on the Closing Date (other than the Indebtedness described in clause (2) of this paragraph (b));

 (4) Indebtedness consisting of Refinancing Indebtedness Incurred in respect of any Indebtedness described in
clauses (3) or (4) of this paragraph (b) or under paragraph (a); 
 (5) Indebtedness of a
Restricted Subsidiary acquired by the Company, the Issuer or any other Restricted Subsidiary after the Closing Date Incurred and outstanding on or prior to the date on which such Restricted Subsidiary was acquired by the Company, the Issuer or any
other Restricted Subsidiary (other than Indebtedness Incurred in contemplation of, in connection with, as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, the transaction or series of related
transactions pursuant to which such Restricted Subsidiary became a Subsidiary of or was otherwise acquired by the Company, the Issuer or any other Restricted Subsidiary) or any Refinancing Indebtedness in respect thereof, not exceeding
£100 million in the aggregate at any one time outstanding; 
 (6) Indebtedness (A) in respect of
performance, bid, completion, surety or appeal bonds provided by the Company, the Issuer and any other Restricted Subsidiary in the ordinary course of their business and (B) under Interest Rate Agreements and Currency Agreements entered into
for bona fide hedging purposes of the Company, the Issuer and any other Restricted Subsidiary; 
 (7) Purchase
Money Indebtedness and Capitalized Lease Obligations Incurred after the Closing Date for the purpose of financing all or any part of the purchase price or cost of construction or improvement (including the cost of design, development, construction,
acquisition, transportation, installation, improvement and migration) of assets; provided, however, that the aggregate principal amount of Indebtedness Incurred pursuant to this clause (7), together with all other outstanding
Indebtedness Incurred after the Closing Date pursuant to this clause (7), shall not exceed as of the date of Incurrence the greater of (A) 2.75% of Total Assets and (B) £150 million; 

(8) (i) Guarantees of the Notes, (ii) Guarantees by a Restricted Subsidiary in favor of the U.K. HM Revenue and
Customs in connection with the U.K. tax liability of the Company or any Restricted Subsidiary (including, without limitation, any VAT liabilities), (iii) Guarantees of other Indebtedness not otherwise prohibited by this Section 4.09 and
(iv) Guarantees of Indebtedness which by its terms must be Guaranteed if the Notes are Guaranteed; 
 (9)
Indebtedness of the Company, the Issuer or any other Restricted Subsidiary arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of
business; provided, however, that such Indebtedness is extinguished within five Business Days of its Incurrence; 
 (10) Indebtedness constituting reimbursement obligations with respect to letters of credit, bankers’ acceptances or other similar instruments or obligations issued in the ordinary course of business,
including letters of credit in respect of workers’ compensation claims or other Indebtedness Incurred with respect to reimbursement-type obligations regarding workers’ compensation claims and under other similar legislation;
provided, however, that upon the drawing or other funding of such letters of credit or other instruments or obligations, such drawings or fundings are reimbursed within 30 days; 

  
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 (11) Indebtedness arising from agreements of the Company, the Issuer or any
other Restricted Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case, Incurred in connection with the disposition of any business, assets or Capital Stock of a Subsidiary, other than Guarantees
or other credit support of Indebtedness or other obligations of any Person (other than the Company or any Restricted Subsidiary) acquiring all or any portion of such business, assets or Capital Stock or any Affiliate of such Person; provided
that such Indebtedness is not reflected on the balance sheet of the Company or any other Restricted Subsidiary (contingent obligations referred to in a footnote to financial statements and not otherwise reflected on the balance sheet will be deemed
not to be reflected on such balance sheet for purposes of this clause (11)); 
 (12) the Incurrence of
Indebtedness consisting of guarantees of loans or other extensions of credit made to or on behalf of officers, directors, employees or consultants of the Company, the Issuer or any other Restricted Subsidiary for the purpose of permitting such
persons to purchase Capital Stock of the Company, the Issuer or any other Restricted Subsidiary, in an amount not to exceed £10 million at any one time outstanding; 

(13) the Incurrence of Indebtedness by a Receivables Subsidiary in a Qualified Receivables Transaction that is not
recourse to the Company, the Issuer or any of their Subsidiaries (except for Standard Securitization Undertakings) in an amount not to exceed £300 million at any one time outstanding; 

(14) the accrual of interest, the accretion or amortization of original issue discount, the payment of interest on any
Indebtedness in the form of additional indebtedness with the same terms, and the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock (where the payment of such dividends is not part of
a financing transaction); 
 (15) Indebtedness of the Company, the Issuer or any other Restricted Subsidiary
relating to any VAT liabilities or deferral of PAYE taxes with the agreement of the U.K. HM Revenue and Customs; and 
 (16) Indebtedness (other than Indebtedness permitted to be Incurred pursuant to the foregoing paragraph (a) or any other clause of this paragraph (b)) in an aggregate principal amount on the date of
Incurrence that, when added to all other Indebtedness Incurred pursuant to this clause (16) and then outstanding, will not exceed the greater of (A) 3.0% of Total Assets and (B) £300 million. 

(c) For purposes of determining the outstanding principal amount of any particular Indebtedness Incurred pursuant to this
Section 4.09: 
 (1) Bank Indebtedness Incurred on or prior to the Closing Date shall be treated as Incurred
pursuant to clause (1) of paragraph (b) above; 
 (2) Indebtedness permitted by this Section 4.09
need not be permitted solely by reference to one provision permitting such Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this Section 4.09 permitting such Indebtedness;

 (3) in the event that Indebtedness meets the criteria of more than one of the types of Indebtedness described
in this Section 4.09, the Company, in its sole discretion (except as specified in this paragraph (c)), shall classify or reclassify from time to time such Indebtedness and only be required to include the amount of such Indebtedness in one of
such clauses; and 

  
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 (4) the outstanding principal amount of any particular Indebtedness shall be
counted only once and any obligations arising under any Guarantee, Lien, letter of credit or similar instrument supporting such Indebtedness permitted to be Incurred under this Section 4.09 shall not be double counted. 

(d) For the purposes of determining compliance with any sterling-denominated restriction on the Incurrence of Indebtedness denominated in
a currency other than pounds sterling, the sterling-equivalent principal amount of such Indebtedness Incurred pursuant thereto shall be calculated based on the relevant currency exchange rate in effect on the date that such Indebtedness was
Incurred, in the case of term Indebtedness, or first committed, in the case of revolving credit Indebtedness, provided that (x) the sterling-equivalent principal amount of any such Indebtedness outstanding on the Closing Date shall be
calculated based on the relevant currency exchange rate in effect on the Closing Date, (y) if such Indebtedness is Incurred to Refinance other Indebtedness denominated in a currency other than pounds sterling, and such refinancing would cause
the applicable sterling-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such Refinancing, such sterling-denominated restriction shall be deemed not to have been exceeded so long as
the principal amount of such Refinancing Indebtedness does not exceed the principal amount of such Indebtedness being Refinanced based on the exchange rate between the currency of the Indebtedness being Refinanced and the currency of the Refinancing
Indebtedness and (z) the sterling-equivalent principal amount of Indebtedness denominated in a currency other than pounds sterling and Incurred pursuant to any Credit Facility shall be calculated based on the relevant currency exchange rate in
effect on, at the Company’s option, (i) the Closing Date, (ii) any date on which any of the respective commitments under any Credit Facility shall be reallocated between or among facilities or subfacilities thereunder, or
(iii) the date of such Incurrence. The principal amount of any Indebtedness Incurred to Refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being Refinanced, shall be calculated based on the currency exchange
rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such Refinancing. 
  

	 	Section 4.10	Sales of Assets and Subsidiary Stock. 

 (a) The Company will not, and will not permit any Restricted Subsidiary to, make any Asset Disposition unless: 
 (1) the Company or such Restricted Subsidiary receives consideration at the time of such Asset Disposition at least equal to the Fair Market Value of the shares and assets subject to such Asset
Disposition; 
 (2) at least 75% of the consideration thereof received by the Company or such Restricted
Subsidiary is in the form of cash, Temporary Cash Investments or Additional Assets; and 
 (3) an amount equal to
100% of the Net Available Cash from such Asset Disposition is applied by the Company or such Restricted Subsidiary, as the case may be, 
 (A) first, to the extent the Company or any Restricted Subsidiary elects (or is required by the terms of any Indebtedness), to prepay or repay, purchase, repurchase, redeem, retire, defease or
otherwise acquire for value Indebtedness of the Company or any Restricted Subsidiary or Indebtedness of a Subsidiary of the Issuer, other than 

  
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Indebtedness that is either unsecured and pari passu in right of payment to the Notes and the Note Guarantees or Indebtedness that is subordinate or junior in right of payment to the Notes and
the Note Guarantees; 
 (B) second, to the extent of the balance of Net Available Cash after application
in accordance with clause (A), to the extent the Company or such Restricted Subsidiary elects, to invest in Additional Assets or any capitalized expense related thereto (including by means of an Investment in Additional Assets or any capitalized
expense related thereto by a Restricted Subsidiary with Net Available Cash received by the Company or a Restricted Subsidiary); 
 (C) third, to the extent of the balance of such Net Available Cash not applied in accordance with clauses (A) and (B) within 366 days from the later of such Asset Disposition or the
receipt of such Net Available Cash (provided, however, that such 366-day period shall be extended by up to 180 days to the extent a binding contractual commitment to reinvest in or purchase Additional Assets or any capitalized expense
related thereto shall have been entered into by such 366th day to the extent such commitment remains in effect and the planned reinvestment or purchase has not been abandoned or cancelled), to make an Excess Proceeds Offer (as defined in paragraph
(b) of this Section 4.10) to purchase Notes pursuant to and subject to the conditions set forth in paragraph (b) of this Section 4.10, subject to proration as described in paragraph (b) below or an offer to purchase any
other Senior Indebtedness of the Company, the Issuer, or any Intermediate Guarantor outstanding on the date of such Excess Proceeds Offer that is pari passu in right of payment with the Notes or any Guarantee from the Company or an
Intermediate Guarantor and subject to terms and conditions in respect of Asset Dispositions similar in all material respects to the covenant described hereunder and requiring the Issuer to make an offer to purchase such Senior Indebtedness at
substantially the same time as such Excess Proceeds Offer (the “Pari Passu Debt”); and 
 (D)
fourth, to the extent of the balance of such Net Available Cash after application in accordance with clauses (A), (B) and (C) (including any amounts for Notes not tendered in any Excess Proceeds Offer), for any general corporate
purpose permitted by the terms of this Indenture; 
 provided, however, that in connection with any prepayment or
repayment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of Indebtedness pursuant to clause (A), (C) or (D) above, other than in connection with Bank Indebtedness Incurred under any revolving
facility the Company or such Restricted Subsidiary will retire such Indebtedness and will cause the related loan commitment (if any) to be permanently reduced in an amount equal to the principal amount so permanently prepaid or repaid, purchased,
repurchased, redeemed, retired, defeased or otherwise acquired for value unless the Company or such Restricted Subsidiary can incur such Indebtedness on such date under this Indenture. 

For the purposes of clause (2) of paragraph (a) of this Section 4.10, the following are deemed to be cash: 

(1) Indebtedness and other liabilities shown on the most recent consolidated balance sheet of the Company prior to the
date of such Asset Disposition (other than Subordinated Obligations) (i) that are assumed by the transferee of any such assets and (ii) for which the Company and its Restricted Subsidiaries are released from all liability at the time of
such Asset Disposition; 

  
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 (2) any securities, notes or other obligations received by any such
Intermediate Guarantor, the Issuer or any such Restricted Subsidiary from such transferee that are converted, sold or exchanged by the Company or such Restricted Subsidiary into cash or Temporary Cash Investments within 90 days, to the extent of the
cash or Temporary Cash Investments received in that conversion, sale or exchange; and 
 (3) any Designated
Non-Cash Consideration. 
 (b) In the event of an Asset Disposition that requires the purchase of Notes pursuant to clause
(a)(3)(C) of this Section 4.10, the Issuer will be required to purchase Notes tendered pursuant to an offer by the Issuer for the Notes (an “Excess Proceeds Offer”), which Excess Proceeds Offer shall be in the amount of the
Allocable Excess Proceeds, on a pro rata basis according to principal amount, at a purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to the purchase date (subject to the right of Holders
of record on the relevant record date to receive interest due on the relevant interest payment date), in accordance with the procedures (including prorating in the event of over-subscription and calculation of the principal amount of Notes
denominated in different currencies) set forth in this Indenture. To the extent that any portion of the amount of Net Available Cash remains after compliance with the preceding sentence and Section 3.09, the Issuer may apply the remaining Net
Available Cash in accordance with clause (a)(3)(D) of this Section 4.10. The Issuer will not be required to make an Excess Proceeds Offer for Notes or any other Indebtedness pursuant to this Section 4.10 if the Net Available Cash available
therefor (after application of the proceeds as provided in clauses (a)(3)(A) and (a)(3)(B)) is less than £40 million for any particular Asset Disposition (which lesser amount will be carried forward for purposes of determining whether an
Excess Proceeds Offer is required with respect to the Net Available Cash from any subsequent Asset Disposition). Upon completion of each Excess Proceeds Offer, the amount of Allocable Excess Proceeds will be reset at zero. 

The term “Allocable Excess Proceeds” means the product of: 

(y) the amount of Net Available Cash remaining after application in accordance with clauses (a)(3)(A) and (a)(3)(B) above, and

 (z) a fraction, 
 (1) the numerator of which is the aggregate principal amount of the Notes outstanding on the date of an Excess Proceeds Offer, plus accrued and unpaid interest thereon, if any, to such date, and

 (2) the denominator of which is the sum of the aggregate principal amount of the Notes outstanding on the date of such Excess
Proceeds Offer, plus accrued and unpaid interest thereon, if any, to such date, and the aggregate principal amount (or accreted value in the case of Indebtedness with original issue discount) of any Pari Passu Debt plus accrued and unpaid interest
thereon, if any, to such date. 
 (c) For the purposes of this Section 4.10, the following are deemed to be cash:

  

	 	•	 	 Indebtedness and other liabilities shown on the most recent balance sheets of the Company and any Restricted Subsidiary prior to the date of such Asset
Disposition (other than Subordinated Obligations) (i) that are assumed by the transferee of any such assets and (ii) for which the Company and the Restricted Subsidiaries are released from all liability at the time of such Asset
Disposition; 

  
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	 	•	 	 any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee that are converted, sold or
exchanged by the Company or such Restricted Subsidiary into cash or Temporary Cash Investments within 90 days, to the extent of the cash or Temporary Cash Investments received in that conversion, sale or exchange; and 

 

	 	•	 	 any Designated Non-Cash Consideration. 

 (d) The Issuer will comply with the requirements of Section 14(e) of the Exchange Act and any applicable securities laws or regulations in connection with the repurchase of Notes pursuant to this
Section 4.10. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.10, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have
breached its obligations under this Section 4.10 by virtue thereof. 
  

	 	Section 4.11	Transactions with Affiliates. 

 (a) The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, enter into any transaction or series of related transactions (including the purchase, sale, lease or
exchange of any Property or the rendering of any service) with any Affiliate of the Company (an “Affiliate Transaction”) unless such transaction is on terms: 

(1) that are not materially less favorable to the Company or such Restricted Subsidiary, as the case may be, than those
that could be obtained at the time of such transaction in arm’s-length dealings with a Person who is not such an Affiliate; 
 (2) that, in the event such Affiliate Transaction involves an aggregate amount in excess of £25 million: 
 (A) are set forth in writing; and 
 (B) have been approved by a
majority of the members of the Board of Directors having no personal stake in such Affiliate Transaction; and 

(3) that, in the event such Affiliate Transaction involves an aggregate amount in excess of £100 million, have
been determined by an Independent Financial Advisor to be fair, from a financial standpoint, to the Company and its Restricted Subsidiaries. 
 (b) The provisions of the foregoing paragraph (a) will not apply to: 
 (1) any Restricted Payment permitted to be paid or made pursuant to Section 4.07; 
 (2) transactions between the Company and any Restricted Subsidiary (other than a Receivables Subsidiary) or between Restricted Subsidiaries (other than a Receivables Subsidiary); 

(3) sales of accounts receivable or any participations therein to a Receivables Subsidiary in connection with any
Qualified Receivables Transaction; 
 (4) in respect of clauses (2) and (3) of paragraph
(a) above, only, any issuance of securities, or other payments, awards or grants in cash, securities (including stock options and similar rights) or similar transfers to employees, directors and consultants of the Parent, the Company or any
Restricted Subsidiary and any of their Subsidiaries pursuant to, or for the purpose of funding, employment arrangements, stock options and share ownership plans; 

  
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 (5) in respect of clauses (2) and (3) of paragraph (a) above,
only, any loans or advances, or Guarantees of third-party loans, to directors, officers, employees and consultants in the ordinary course of business in accordance with past practices of the Parent, the Company or any Restricted Subsidiary, as
applicable; 
 (6) the payment of reasonable fees and indemnities (including under customary insurance) to
directors, officers and consultants of the Parent, the Company, any Restricted Subsidiary and any of their Subsidiaries; 
 (7) any tax sharing agreement or arrangement and payments pursuant thereto between or among the Parent, the Company, any Virgin Media Holding Company, the Issuer and any other Restricted Subsidiaries not
otherwise prohibited by this Indenture; 
 (8) commercial transactions on arm’s-length terms entered into in
the ordinary course of business of which the disinterested directors of the Company have been notified, or if there are no disinterested directors, the directors; 

(9) transactions with Affiliates solely in their capacity as holders of Indebtedness or Capital Stock of the Issuer, any
Virgin Media Holding Company or any of its Subsidiaries, so long as such Affiliates are treated no more favorably than holders of such Indebtedness or Capital Stock generally; 

(10) transactions with Affiliates in their capacity as borrowers of Indebtedness from the Issuer, the Company or any
Restricted Subsidiary, so long as such Affiliates are treated no more favorably than holders of such Indebtedness or Capital Stock generally; 
 (11) any agreement in effect on the Closing Date or any amendment or other modification thereto (so long as such amendment or other modification is not disadvantageous to the Holders in any material
respect) or any transactions pursuant thereto; 
 (12) the issuance and sale of Capital Stock of the Parent or
the Company to (A) any officer, director or consultant of the Company, any Restricted Subsidiary or any other Virgin Media Holding Company pursuant to agreements outstanding on the Closing Date, or (B) any Virgin Media Holding Company or
any Restricted Subsidiary; 
 (13) the entering into, maintaining or performing of any employee contract,
collective bargaining agreement, benefit plan, program or arrangement, related trust agreement or any other similar arrangement for or with any employee, officer, director or consultant heretofore or hereafter entered into in the ordinary course of
business, including vacation, health, insurance, deferred compensation, severance, retirement, savings or other similar plans, programs or arrangements; 
 (14) any insurance arrangements entered into in the ordinary course of business with a captive insurance company; 
 (15) transactions relating to the provision of Intra-Group Services in the ordinary course of business; or 

  
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 (16) any transaction in the ordinary course of business between or among the
Issuer or any Restricted Subsidiary and any Affiliate of the Company that is an Unrestricted Subsidiary or a joint venture or similar entity (including a Permitted Joint Venture) that would constitute an Affiliate Transaction solely because the
Issuer or a Restricted Subsidiary owns an equity interest in or otherwise controls such Unrestricted Subsidiary, joint venture or similar entity. 
  

	 	Section 4.12	Liens. 

 The Company will
not, and will not permit any Restricted Subsidiary to, directly or indirectly, Incur or permit to exist any consensual Lien of any nature whatsoever (any such Lien, an “Initial Lien”) on any of its Property or assets (including
Capital Stock of a Restricted Subsidiary), whether owned at the Closing Date or thereafter acquired, securing any Indebtedness, other than Permitted Liens, without effectively providing that the Notes shall be secured equally and ratably with (or
prior to) the obligations so secured for so long as such obligations are so secured. 
 Any Lien created for the benefit of the
Holders pursuant to the immediately preceding paragraph may provide by its terms that such Lien will be automatically and unconditionally released and discharged (1) upon the full and unconditional release and discharge of the Initial Lien
(other than as a result of satisfaction of the debt secured through enforcement of such Lien), (2) with respect to any Additional Subsidiary Guarantor the assets or the Capital Stock of which are encumbered by such Lien, upon the release of the
Additional Subsidiary Guarantee of such Additional Subsidiary Guarantor in accordance with Section 11.02 or (3) upon any defeasance or satisfaction and discharge of the Notes as provided under Article 8 and Article 10 of this Indenture.

  

	 	Section 4.13	Business Activities. 

 The
Company will not, and will not permit any Restricted Subsidiary to, engage in any business, other than a Permitted Business, except for any businesses that are immaterial to the business as a whole. 

 

	 	Section 4.14	Corporate Existence. 

Subject to Article 5 hereof, the Issuer and each Note Guarantor shall do or cause to be done all things necessary to preserve and
keep in full force and effect: 
 (1) its corporate existence, and the corporate, partnership or other existence
of each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Issuer or any such Restricted Subsidiary; and 

(2) the rights (charter and statutory), licenses and franchises of the Issuer, each Note Guarantor and their Restricted
Subsidiaries; 

  
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 provided, however, that the Issuer and each Note Guarantor shall not be required to preserve any such
right, license or franchise, or the corporate, partnership or other existence of any of their Restricted Subsidiaries, if the Board of Directors or an Officer of the Issuer shall determine that the preservation thereof is no longer necessary or
desirable in the conduct of the business of the Issuer, each Note Guarantor and their Restricted Subsidiaries, taken as a whole. 
 The foregoing shall not prohibit a sale, transfer or conveyance of a Restricted Subsidiary (other than the Issuer) or any of its assets in compliance with the terms of this Indenture. 

 

	 	Section 4.15	Offer to Repurchase Upon Change of Control. 

 (a) Upon the occurrence of a Change of Control, each Holder will have the right to require the Issuer to purchase all or any part of such Holder’s Notes at a purchase price in cash equal to 101% of
the principal amount thereof, plus accrued and unpaid interest thereon, if any, to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date);
provided, however, that notwithstanding the occurrence of a Change of Control, the Issuer shall not be obligated to purchase the Notes pursuant to this section in the event that it has exercised its right to redeem all of the Notes
pursuant to Section 3.07 hereof. 
 (b) Within 30 days following any Change of Control giving rise to the obligations under
this Section 4.15 or, at the Issuer’s option, at any time prior to a Change of Control but following the public announcement thereof, the Issuer shall mail a notice to each Holder with a copy to the Trustee (the “Repurchase
Offer”) stating: 
 (1) that a Change of Control has occurred (or will occur) and that such Holder has
the right to require the Issuer to repurchase all or a portion of such Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to the date of repurchase
(subject to the right of Holders of record on the relevant record date to receive interest on the relevant interest payment date); 
 (2) the circumstances and relevant facts regarding such Change of Control; 
 (3) if a Change of Control has been publicly announced but has not occurred at the time such notice is mailed, that the Repurchase Offer is conditioned on the consummation of such Change of Control
occurring prior to or concurrent with the repurchase; 
 (4) the repurchase date (which shall be no earlier than
10 days nor later than 60 days from the date such notice is mailed); 
 (5) that any Note not tendered will
continue to accrue interest; 
 (6) that, unless the Issuer defaults in the payment of the purchase price, all
Notes accepted for payment pursuant to the Repurchase Offer will cease to accrue interest after the repurchase date; 
 (7) that Holders electing to have any Notes purchased pursuant to a Repurchase Offer will be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” attached
to the Notes completed, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding the repurchase date; 

  
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 (8) that Holders will be entitled to withdraw their election if the Paying
Agent receives, not later than the close of business on the second Business Day preceding the repurchase date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for
purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and 
 (9)
that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $1,000 in principal amount or an integral
multiple thereof. 
 The Issuer will comply with the requirements of Section 14(e) of the Exchange Act and any applicable
securities laws or regulations in connection with the repurchase of Notes pursuant to this Section 4.15. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.15, the Issuer will
comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.15 by virtue thereof. 
 (c) On the repurchase date, the Issuer will, to the extent lawful: 

(1) accept for payment all Notes or portions thereof properly tendered pursuant to the Repurchase Offer; 

(2) deposit with the relevant Paying Agent an amount equal to the purchase price in respect of all Notes or portions of
Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuer. 
 The relevant Paying Agent will promptly mail to each Holder of Notes properly tendered the purchase price for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by
book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a minimum principal amount of $200,000 or an integral multiple of $1,000 in
excess thereof. 
 If, at the time of the Change of Control, any series of the Notes is listed on the Luxembourg Stock Exchange
and if required by the rules of the Luxembourg Stock Exchange, notice will be published in Luxembourg as set forth in Section 3.03 hereof. 
 The Issuer will publicly announce the results of the Repurchase Offer on or as soon as practicable after the repurchase date. If any series of the Notes is listed on the Luxembourg Stock Exchange and if
required by the rules of the Luxembourg Stock Exchange notice will be published in Luxembourg as set forth in Section 3.03 hereof. 
 (d) The Issuer will not be required to make a Repurchase Offer upon a Change of Control if a third party makes the Repurchase Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Indenture applicable to a Repurchase Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under such Repurchase Offer. The Issuer shall not be required to effect more than one Repurchase
Offer, including repurchasing all Notes validly tendered and not withdrawn under such Repurchase Offer, for each Change of Control. 

  
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	 	Section 4.16	Sale/Leaseback Transactions. 

 The Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale/Leaseback Transaction with respect to any Property unless: 

(a) such Intermediate Guarantor or such Restricted Subsidiary would be entitled to: 

(1) Incur Indebtedness in an amount equal to the Attributable Debt with respect to such Sale/Leaseback Transaction
pursuant to Section 4.09; and 
 (2) create a Lien on such Property securing such Attributable Debt without
equally and ratably securing the Notes pursuant to Section 4.12; 
 (b) the net proceeds received by the Company or such
Restricted Subsidiary in connection with such Sale/Leaseback Transaction represent the Fair Market Value of such Property; and 

(c) the transfer of such Property is permitted by, and the Company or such Restricted Subsidiary applies the proceeds of such transaction
in compliance with Section 4.10. 
  

	 	Section 4.17	Designation of Restricted and Unrestricted Subsidiaries. 

 (a) The Board of Directors may designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary of the Company) other than the Issuer to be an Unrestricted Subsidiary if:

 (1) no Default or Event of Default shall have occurred and be continuing at the time of or after giving effect
to such designation; 
 (2) such Subsidiary and any of its Subsidiaries do not own any Capital Stock or
Indebtedness of, or own or hold any Lien on any Property of, the Company or any Restricted Subsidiary other than a Subsidiary of the Subsidiary to be designated an Unrestricted Subsidiary; 

(3) either: 
 (A) the Subsidiary to be so designated has total Consolidated assets of £1,000 or less; or 
 (B) if such Subsidiary has Consolidated assets greater than £1,000, then the Issuer would be permitted to make an Investment under Section 4.07 after giving effect to such designation in the
amount specified in the definition of “Investment”; 
 (4) all of the Indebtedness of such Subsidiary
and its Subsidiaries shall, at the date of designation, and will at all times thereafter, consist of Non-Recourse Debt unless the Guarantee or other credit support related to any such Indebtedness could be Incurred by the Company or the relevant
Restricted Subsidiary under this Indenture; 
 (5) such Subsidiary is a Person with respect to which neither the
Company nor any Restricted Subsidiary has any direct or indirect obligation: 
 (A) to subscribe for additional
Capital Stock of such Person; or 

  
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 (B) to maintain or preserve such Person’s financial condition or to
cause such Person to achieve any specified levels of operating results; and 
 (6) on the date such Subsidiary is
designated an Unrestricted Subsidiary, such Subsidiary is not a party to any agreement, contract, arrangement or understanding with the Company, the Issuer or any other Restricted Subsidiary with terms substantially less favorable to the Company,
the Issuer or any Restricted Subsidiary than those that might have been obtained from Persons who are not Affiliates of the Company other than transactions that comply with Section 4.11. 

In the event of any such designation, the Company shall be deemed to have made an Investment constituting a Restricted Payment pursuant
to Section 4.07. 
 (b) The Board of Directors may designate any Unrestricted Subsidiary to be a Restricted Subsidiary if
immediately after giving effect to such designation: 
 (1) no Default or Event of Default shall have occurred
and be continuing at the time of and after giving effect to such designation, 
 (2) the Company could Incur
£1.00 of additional Indebtedness under paragraph (a) of Section 4.09, and 
 (3) all Liens and
Indebtedness of such Unrestricted Subsidiary outstanding immediately following such designation would, if incurred at that time, have been permitted to be Incurred for all purposes of this Indenture. 

(c) Any such designation of a Subsidiary as a Restricted Subsidiary or Unrestricted Subsidiary by the Board of Directors shall be
evidenced to the Trustee by promptly filing with the Trustee a copy of the resolution of the Board of Directors giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing
provisions. 
  

	 	Section 4.18	[Intentionally omitted] 

  

	 	Section 4.19	Guarantees of Indebtedness by Restricted Subsidiaries. 

 (a) The Company will not permit any Restricted Subsidiary (other than the Issuer and the Intermediate Guarantors or any other Note Guarantor) to provide a Guarantee after the Closing Date of any
Indebtedness of the Company, the Issuer or any Intermediate Guarantor unless: 
 (1) such Restricted Subsidiary
simultaneously (or prior thereto) executes and delivers a supplemental indenture to this Indenture providing for a Guarantee by it of payments of the Notes on an equal and ratable basis with such Guarantee, provided, however, that any
Guarantee by such Restricted Subsidiary of a Subordinated Obligation shall be subordinated and junior in right of payment to the contemporaneous Guarantee of the Notes by such Restricted Subsidiary; 

(2) such Restricted Subsidiary waives and will not in any manner whatsoever claim or take the benefit or advantage of, any
rights of reimbursement, indemnity or subrogation or any other rights against the Issuer or any other Restricted Subsidiary as a result of any payment by such Restricted Subsidiary under its Guarantee; and 

  
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 (3) such Restricted Subsidiary shall deliver to the Trustee an Opinion of
Counsel to the effect that: 
 (A) such Guarantee has been duly executed and authorized; and 

(B) such Guarantee constitutes a valid, binding and enforceable obligation of such Restricted Subsidiary, except insofar
as enforcement thereof may be limited by insolvency, bankruptcy, liquidation, reorganization, administration, moratorium, receivership or similar laws (including all laws relating to fraudulent transfers) and except insofar as enforcement thereof is
subject to general principles of equity; 
 (b) The provisions of Section 4.19(a) shall not apply to: 

(1) Guarantees by a Restricted Subsidiary of any Indebtedness (other than Public Debt that is not Permitted Public Debt
issued by the Issuer or any Intermediate Guarantor) permitted to be Incurred pursuant to paragraph (a) of Section 4.09; 
 (2) Guarantees by a Restricted Subsidiary pursuant to an agreement governing any Bank Indebtedness, the Existing Senior Secured Notes or any additional Pari Passu Lien Obligations permitted to be Incurred
pursuant to clauses (a), (b)(1), (b)(4) or (b)(16) of Section 4.09; 
 (3) Guarantees by a Restricted
Subsidiary under any Refinancing Indebtedness described in clause (4) of paragraph (b) of Section 4.09, to the extent such Restricted Subsidiary provided a Guarantee in respect of the Indebtedness being Refinanced; provided
that the Guarantee is not senior in right of payment to the Guarantee in respect of the Indebtedness being replaced; 
 (4) Guarantees by a Restricted Subsidiary of any Indebtedness described in clause (5) of paragraph (b) of Section 4.09, to the extent existing under, or required under the terms of, such
Indebtedness; provided that the Guarantee or any requirement to provide such Guarantee was in existence prior to the contemplation of the merger, consolidation or acquisition that resulted in the Incurrence of such Indebtedness (except as
provided in clause (b)(1) of this Section 4.19); 
 (5) any Guarantee or undertaking by any Restricted
Subsidiary in favor of the U.K. HM Revenue and Customs in connection with the U.K. tax liability of the Company or any Restricted Subsidiary (including, without limitation, any VAT liabilities); and 

(6) Guarantees by a Restricted Subsidiary permitted under clause (11) of paragraph (b) of Section 4.09.

  

	 	Section 4.20	Anti-Layering 

 The Senior
Subordinated Subsidiary Guarantors may not Incur any Indebtedness that is subordinated in right of payment to other Indebtedness of the Senior Subordinated Subsidiary Guarantors, unless such Indebtedness Incurred by the Senior Subordinated
Subsidiary Guarantors is also subordinated or pari passu to the relevant Senior Subordinated Subsidiary Note Guarantee; provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to any other
Indebtedness of the Senior Subordinated Subsidiary Guarantors solely by virtue of being unsecured, by virtue of being secured with different collateral, by virtue of being secured on a junior priority basis or by virtue of the application of
waterfall or other payment-ordering provisions or if Bank Indebtedness is Incurred pursuant to paragraph (a) or clauses (1), (4) or (16) of paragraph (b) of Section 4.09. 

  
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	 	Section 4.21	Further Instruments and Acts 

 Upon the request of the Trustee, but without the affirmative duty on the Trustee to do so, the Issuer and each Note Guarantor will execute and deliver such further instruments and do such further acts as
may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture and the Intercreditor Deed. 
  

	 	Section 4.22	Listing 

 The Issuer will
use its commercially reasonable efforts to list and maintain the listing of the Notes on the Luxembourg Stock Exchange or another comparable exchange. 
  

	 	Section 4.23	Calculation of Sterling Denominated Restrictions 

 Except as provided in Section 4.09(d), for purposes of determining compliance with any sterling-denominated restriction in this Indenture, the Sterling Equivalent amount for purposes hereof that is
denominated in a non-sterling currency shall be calculated based on the relevant currency exchange rate in effect on the date such non-sterling amount is incurred or made, as the case may be. 

 

	 	Section 4.24	Covenant Suspension 

 From
and after the first day on which (i) the Notes have been assigned an Investment Grade Rating by at least two Rating Agencies and (ii) no Default or Event of Default under this Indenture has occurred and is continuing (the
“Suspension Date”): (A) the Company and its Restricted Subsidiaries shall cease to be subject to certain sections of this Indenture, including the provisions summarized under: Section 4.09, Section 4.20,
Section 4.07, Section 4.08, Section 4.10, Section 4.11, Section 4.19, Section 4.13, Section 4.16, clause (y) of the third paragraph under Section 4.17(b)(2) and Section 5.01(a)(3), and
(B) paragraphs (7) and (20) of the definition of “Permitted Liens” shall be amended to read as follows (and, for the avoidance of doubt, the remainder of the definition of “Permitted Liens” shall remain in effect
without any amendment thereto): 
 “(7) Liens to secure Bank Indebtedness, Existing Senior Secured Notes, additional Pari
Passu Lien Obligations and Permitted Public Debt (including, in each case, any Refinancing thereof in whole or in part);” 

“(20) Liens in connection with any Sale/Leaseback Transaction; and”. 

(collectively, the “Suspended Covenants”) 
 If at any time following the Suspension Date one or more Rating Agencies downgrades the rating assigned to the Notes to below an Investment Grade Rating with the result that less than two Rating Agencies
maintain an Investment Grade Rating with respect to the Notes (such date being the “Reinstatement Date”), then the Suspended Covenants will thereafter be reinstated and again be applicable pursuant to the terms of this
Indenture, unless and until the Notes subsequently again attain an Investment Grade Rating by two or more Rating Agencies. The period of time between the Suspension Date and Reinstatement Date shall be referred to as the “Suspension
Period”. 
 No action taken by either the Company or any of its Restricted Subsidiaries during the Suspension Period
with respect to a Suspended Covenant (including, for the avoidance of doubt, any failure to comply with a Suspended Covenant), nor the compliance or performance by the Company or any of its 

  
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Restricted Subsidiaries with any contractual obligation entered into during the Suspension Period with respect to a Suspended Covenant will constitute a Default, Event of Default or breach of any
kind under this Indenture, the Notes or the Guarantees and will not result in any reduction of any amounts available under any of the baskets as of the Suspension Date that may apply under the Suspended Covenants. The Issuer will give written notice
to the Trustee of any covenant suspension pursuant to this section. 
 ARTICLE 5 

SUCCESSORS 
  

	 	Section 5.01	Merger, Consolidation, or Sale of Assets. 

 (a) The Issuer will not consolidate with or merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person, unless: 

(1) the Issuer is the surviving corporation or the resulting, surviving or transferee Person other than the Issuer (the
“Successor Company”) will be a corporation organized and existing under the laws of any country that is a Member State, Bermuda, the Cayman Islands, the United States of America, any State thereof or the District of Columbia and the
Successor Company will expressly assume, by a supplemental indenture, executed and delivered to the Trustee, in form and substance reasonably satisfactory to the Trustee, all the obligations of the Issuer under the Notes and this Indenture;

 (2) immediately after giving effect to such transaction (and treating any Indebtedness not previously an
obligation of the Issuer which becomes an obligation of the Successor Company or any Restricted Subsidiary as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such
transaction), no Default or Event of Default shall have occurred and be continuing; 
 (3) immediately after
giving effect to such transaction, the Issuer, if it is the surviving corporation, or the Successor Company, would be able to Incur an additional £1.00 of Indebtedness under paragraph (a) of Section 4.09; 

(4) each Note Guarantor (unless it is the other party to the transaction above, in which case clause (1) shall apply)
shall have by supplemental indenture confirmed that its Note Guarantee shall apply to such Person’s obligations in respect of this Indenture and the Notes; and 

(5) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that such consolidation, merger or transfer and such supplemental indenture (if any) comply with the provisions described in this paragraph; provided, that in giving such opinion, such counsel may rely on an Officer’s Certificate as to
compliance with clauses (2) and (3) above and as to any matters of fact. 
 The Successor Company will succeed to, and
be substituted for, and may exercise every right and power of, the Issuer under this Indenture, and upon such substitution, the predecessor Issuer will be released from its obligations under the Indebtedness of the Notes, but the predecessor Issuer
in the case of a conveyance, transfer or lease of all or substantially all its assets will not be released from the obligation to pay the principal of and interest on the Notes. 

Clauses (2) and (3) of this Section 5.01(a) will not apply to any transaction in which (A) any Restricted Subsidiary
consolidates with, merges into or transfers all or part of its properties and assets to the Issuer or (B) (i) the Issuer consolidates or merges with or into or transfers all or substantially all of its

  
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assets to an Affiliate incorporated or organized for the purpose of changing the legal domicile of the Issuer, reincorporating the Issuer in another jurisdiction or changing its legal structure
to a corporation or other entity or (ii) the Issuer consolidates or merges with or into or transfers all or substantially all of its assets to a Restricted Subsidiary so long as all assets of the Restricted Subsidiaries immediately prior to
such transaction (other than Capital Stock of such Restricted Subsidiary) are owned by such Restricted Subsidiary and its Restricted Subsidiaries immediately after the consummation thereof. 

(b) The Company and each Note Guarantor will not, and each Note Guarantor and the Issuer will not permit any Subsidiary Guarantor to,
consolidate with or merge with or into, or, except to a Wholly Owned Subsidiary that is a Restricted Subsidiary of the Parent, convey, transfer or lease all or substantially all of its assets to any Person unless: 

(1) the resulting, surviving or transferee Person if other than such Note Guarantor (the “Successor
Guarantor”) will be a corporation organized and existing under the laws of a country that is a Member State, Bermuda, the Cayman Islands, the United States of America, any State thereof or the District of Columbia, and such Person (if not
such Note Guarantor) will expressly assume, by a supplemental indenture, executed and delivered to the Trustee, in form and substance satisfactory to the Trustee, all the obligations of such Note Guarantor under its Note Guarantee; 

(2) immediately after giving effect to such transaction (and treating any Indebtedness not previously an obligation of
such Note Guarantor which becomes an obligation of the Successor Guarantor or any Restricted Subsidiary as a result of such transaction as having been Incurred by the Successor Guarantor or such Restricted Subsidiary at the time of such
transaction), no Default or Event of Default shall have occurred and be continuing; and 
 (3) the Issuer will
have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture; provided that in giving such
opinion, such counsel may rely on an Officer’s Certificate as to compliance with clause (2) above and as to any matters of fact and that such supplemental indenture is enforceable against the Successor Guarantor subject to certain
exceptions. 
 Notwithstanding the foregoing, the Company or any Restricted Subsidiary may consolidate with, merge into or
transfer all or part of its properties and assets to, any Intermediate Guarantor, the Issuer or any Subsidiary Guarantor; provided, however, that neither the Company nor any Restricted Subsidiary shall be permitted to consolidate with,
merge into or transfer all or part of its properties and assets to any Intermediate Guarantor or any Subsidiary Guarantor if following such consolidation, merger or transfer such Intermediate Guarantor or such Subsidiary Guarantor would be
prohibited by applicable law from continuing to provide a Note Guarantee or the amount of such Note Guarantee would be required to be limited to a greater extent than immediately prior to such consolidation, merger or transfer. 

ARTICLE 6 

DEFAULTS AND REMEDIES 
  

	 	Section 6.01	Events of Default. 

 (a)
Each of the following is an “Event of Default”: 
 (1) a default in any payment of interest on,
or Additional Amounts with respect to, any Note when due and payable continued for 30 days; 

  
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 (2) a default in the payment of principal of or premium, if any, on any Note
when due and payable at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise; 
 (3) the failure to comply with obligations under Article 5; 
 (4)
the failure to comply for 30 days after notice with any obligations under Section 3.09 or Section 4.10 (in each case, other than a failure to purchase Notes, which will constitute an Event of Default under Section 6.01(a)(2));

 (5) the failure to comply for 60 days after notice with any other agreement contained in the Notes or this
Indenture; provided, however, that the Company shall have 90 days after receipt of such notice to remedy, or receive a waiver for, any failure to comply with its obligations to file its annual, quarterly and current reports in accordance with
Section 4.03 or to comply with Section 314(a)(1) of the Trust Indenture Act so long as the Company is attempting to cure such failure as promptly as reasonably practicable; 

(6) the failure by the Company, the Issuer or any other Restricted Subsidiary or any other Virgin Media Holding Company to
pay any Indebtedness within any applicable grace period after final maturity, or the acceleration of any such Indebtedness by the holders thereof because of a default, if, in each case, the total amount of such Indebtedness unpaid or accelerated
exceeds £50 million or its equivalent in another currency; 
 (7) (A) a proceeding is commenced
seeking a decree or order for (i) relief in respect of the Issuer, any Note Guarantor or a Significant Subsidiary in an involuntary case under any applicable Bankruptcy Law, (ii) appointment of a receiver, liquidator, assignee, custodian,
trustee, examiner, administrator, sequestration or similar official of the Issuer, any Note Guarantor or a Significant Subsidiary or for all or substantially all of the property and assets of the Issuer, any Note Guarantor or a Significant
Subsidiary or (iii) the winding up or liquidation of the affairs of the Issuer, any Note Guarantor or a Significant Subsidiary (other than, except in the case of the Issuer, a solvent winding up or liquidation in connection with a transfer of
assets among Holdings and its Restricted Subsidiaries) and, in each case, such proceeding shall remain unstayed and in effect for a period of 30 consecutive days; or (B) other than, except in the case of the Issuer, in relation to a solvent
winding up or liquidation in connection with a transfer of assets among Holdings and its Restricted Subsidiaries, the Issuer, any Note Guarantor or a Significant Subsidiary (i) commences a voluntary case (including taking any action for the
purpose of winding up) under any applicable Bankruptcy Law, or consents to the entry of an order for relief in an involuntary case under any such law, (ii) consents to the appointment of or taking possession by a receiver, liquidator, assignee,
custodian, trustee, examiner, administrator, sequestration or similar official of the Issuer, any Note Guarantor or a Significant Subsidiary or for all or substantially all of the property and assets of the Issuer, any Note Guarantor or a
Significant Subsidiary or (iii) effects any general assignment for the benefit of creditors; 
 (8) the
rendering of any judgment or decree for the payment of money in excess of £50 million or its equivalent in another currency against the Company or any Restricted Subsidiary if such judgment or decree remains outstanding for a period of 60
days following such judgment or decree and is not discharged, waived or stayed before the end of such period; or 

(9) any Note Guarantee ceases to be in full force and effect (except as contemplated by the terms thereof) or any Note
Guarantor or Person acting by or on behalf of such Note Guarantor denies or disaffirms in writing such Note Guarantor’s obligations under this Indenture 

  
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or any Note Guarantee (other than by reason of the termination of this Indenture or such Note Guarantee or the release of such Note Guarantee in accordance with such Note Guarantee or this
Indenture). 
 The foregoing will constitute Events of Default whatever the reason for any such Event of Default and whether it
is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. For purposes of clause (a)(7)(A) of this
Section 6.01, no proceeding will be deemed commenced until the Issuer, Note Guarantors or Significant Subsidiaries have been able to contest such proceeding. 
 (b) A default under clause (4) or (5) of Section 6.01(a) will not constitute an Event of Default until the Trustee notifies the Issuer or the Holders of at least 25% in aggregate principal
amount of the outstanding Notes notify the Issuer and the Trustee of the default and the Company, the Issuer, the relevant Virgin Media Holding Company or the relevant Restricted Subsidiary, as applicable, does not cure such default within the time
specified in clause (4) or (5) of Section 6.01(a) after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a notice of Default. When a Default or an Event of Default
is cured within the time specified, it ceases. In the event of a declaration of acceleration of the Notes because an Event of Default described in clause (a)(5) of this Section 6.01 has occurred and is continuing, the declaration of
acceleration of the Notes shall be automatically annulled if the event of default or payment default triggering such Event of Default pursuant to clause (a)(5) of this Section 6.01 shall be remedied or cured, or waived by the holders of the
Indebtedness, or the Indebtedness that gave rise to such Event of Default shall have been discharged in full, within 30 days after the declaration of acceleration with respect thereto and if (A) the annulment of the acceleration of the Notes
would not conflict with any judgment or decree of a court of competent jurisdiction and (B) all existing Events of Default, except nonpayment of principal, premium or interest on the Notes that became due solely because of the acceleration of
the Notes, have been cured or waived. 
 (c) The Issuer will deliver to the Trustee, within 30 days after the occurrence
thereof, written notice in the form of an Officer’s Certificate of any event which is, or with the giving of notice or lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or proposes to take
in respect thereof. 
  

	 	Section 6.02	Acceleration. 

 Subject to
the terms of the Intercreditor Deed and the provisions of Section 6.01(b), if an Event of Default (other than an Event of Default under the bankruptcy provisions described in clause (7) of Section 6.01(a) with respect to the Issuer,
any Note Guarantor or any Significant Subsidiary) occurs and is continuing and a responsible officer of the Trustee has received written notice of such Default or Event of Default, the Trustee or the Holders of at least 25% in aggregate principal
amount of the outstanding Notes by notice to the Issuer may declare the principal of and accrued but unpaid interest on all the Notes to be due and payable. Upon such a declaration, such principal and interest will be due and payable immediately. If
an Event of Default under the bankruptcy provisions described in clause (7) of Section 6.01(a) with respect to the Issuer, any Note Guarantor or any Significant Subsidiary occurs, the unpaid principal of and interest on all the Notes will
become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Notwithstanding the above, if the Issuer exercises its covenant defeasance option under Article 8 hereof, payment of the Notes may not
be accelerated pursuant to this Section 6.02 because of the occurrence of an Event of Default specified in clauses (4), (6), (7) or (8) of Section 6.01(a) or non-compliance with clause (a)(3) of Section 5.01. 

  
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 The Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may on behalf of all of the Holders rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal,
interest, Special Interest or premium that has become due solely because of the acceleration) have been cured or waived. 
  

	 	Section 6.03	Other Remedies. 

 If an
Event of Default occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the performance of any provision
of the Notes or this Indenture. Following such Event of Default, the Trustee is entitled to require all Agents to act under its direction. 
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All remedies are cumulative to the
extent permitted by law. 
  

	 	Section 6.04	Waiver of Past Defaults. 

Subject to Section 6.07 and Section 9.02 hereof, the Trustee, upon receipt of written notice from the Holders of not less than a
majority in aggregate principal amount of the Notes then outstanding, may on behalf of the Holders of all of the Notes rescind an acceleration or waive any existing Default or Event of Default and its consequences hereunder except a continuing
Default or Event of Default in the payment of interest or the premium on, or the principal of the Notes (including in connection with an offer to purchase). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

 

	 	Section 6.05	Control by Majority. 

 The
Holders of a majority in aggregate principal amount of the outstanding Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The
Trustee, however, may refuse to follow any direction that the Trustee determines (after consultation with counsel) conflicts with law, this Indenture or the Intercreditor Deed or that the Trustee determines is unduly prejudicial to the rights of any
other Holder or that may involve the Trustee in personal liability or expense, provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with any such direction. Prior to taking any action
under this Indenture, the Trustee is entitled to indemnification and/or security satisfactory to it against all losses and expenses caused by taking or not taking such action. 

 

	 	Section 6.06	Limitation on Suits. 

 (a)
Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to this Indenture or the Notes unless: 

(1) such Holder has previously given the Trustee written notice that an Event of Default is continuing; 

  
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 (2) Holders of at least 25% in aggregate principal amount of the outstanding
Notes have requested the Trustee in writing to pursue the remedy; 
 (3) such Holders have provided the Trustee
security or indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee has
not complied with such written request within 60 days after the receipt of such request and the security or indemnity reasonably satisfactory to the Trustee; and 

(5) the Holders of a majority in aggregate principal amount of the outstanding Notes have not given the Trustee a
direction inconsistent with such request within such 60-day period. 
 (b) A Holder may not use this Indenture to prejudice the
rights of another Holder of a Note or to obtain a preference or priority over another Holder. 
  

	 	Section 6.07	Rights of Holders to Receive Payment. 

 Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal, premium, if any, and interest on the Note held by such Holder, on or after the respective
due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

  

	 	Section 6.08	Collection Suit by Trustee. 

 If an Event of Default specified in Section 6.01(a)(1) or (2) occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against
the Issuer or any other obligor on the Notes for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and such further amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
  

	 	Section 6.09	Trustee May File Proofs of Claim. 

 The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the properly
incurred compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Issuer, any other obligor upon the Notes, their creditors or their property and
shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to
the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due
the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities
and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding. 

  
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	 	Section 6.10	Priorities. 

 If the
Trustee collects any money pursuant to this Article 6, it shall pay out the money, subject to the terms of the Intercreditor Deed, in the following order: 
 First: to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expense and liabilities incurred, and all advances made, by
the Trustee and the costs and expenses of collection; 
 Second: to Holders for amounts due and unpaid on
the Notes for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any and interest, respectively; and 

Third: to the Issuer or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 

 

	 	Section 6.11	Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by
a Holder pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in principal amount of the then outstanding Notes, or to any suit initiated by any Holder for the enforcement of the payment of any principal of or interest on any
Note, on or after its maturity date. 
  

	 	Section 6.12	Stay, Extension and Usury Laws. 

 The Issuer shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter
in force, that may affect the covenants or the performance of this Indenture; and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to
any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

ARTICLE 7 

TRUSTEE 
  

	 	Section 7.01	Duties of Trustee. 

 (a)
If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under
the circumstances in the conduct of such person’s own affairs. 

  
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 (b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, with respect to certificates or opinions specifically required to be furnished to it
hereunder, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 
 (c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 

(1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01; 

(2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is
proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee will not be liable
with respect to any action it takes or omits to take in good faith in accordance with a direction received by it, including without limitation those given, pursuant to Section 6.02, 6.04 or 6.05 hereof; and 

(4) no provision of this Indenture will require the Trustee to expend or risk its own funds or otherwise incur financial
liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity and/or security against such risk or
liability is not reasonably assured to it, it being understood that the Trustee shall not be required to advance its own funds in connection with its duties and responsibilities as Trustee. 

(d) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b), and (c) of this Section 7.01. 
 (e) The Trustee will be under no obligation to exercise any of
the rights or powers under this Indenture or the Intercreditor Deed at the request or direction of any of the Holders unless such Holders have provided to the Trustee indemnity or security satisfactory to the Trustee against any loss, liability or
expense. 
 (f) The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in
writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

  
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	 	Section  7.02	Rights of Trustee. 

 (a)
The Trustee may conclusively rely upon any document (whether in original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the
document. 
 (b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of
Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel and the advice of such counsel or any
Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any attorney or
agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes or omits to take in good faith that
it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise
specifically provided in this Indenture, any demand, request, direction or notice from the Issuer will be sufficient if signed by an Officer of the Issuer. 
 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture or the Intercreditor Deed at the request or direction of any of the Holders unless such
Holders have offered to the Trustee indemnity and/or security satisfactory to it against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

(g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, direction, order, approval, bond, debenture, note, other evidence of indebtedness or other paper or document but the Trustee, in its sole and absolute discretion, may make such further inquiry
or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent
or attorney at the sole expense of the Issuer and shall incur no liability of any kind by reason of such inquiry or investigation. 
 (h) The Trustee will have no duty to inquire as to the Issuer’s performance of the covenants in Article 4 hereof. In addition, the Trustee will not be deemed to have knowledge of any Default or Event
of Default except any Default or Event of Default of which a Responsible Officer of the Trustee has received written notification identifying the Notes or Indenture or, with respect to a Default or Event of Default occuring pursuant to Section
6.01(a)(1) or Section 6.01(a)(2), obtained actual knowledge. 
 (i) Neither the Trustee nor any clearing system through which
the Notes are traded shall have any obligation or duty to monitor, determine or inquire as to compliance, and shall not be responsible or liable for compliance, with restrictions on transfer, exchange, redemption, purchase or repurchase, as
applicable, of minimum denominations imposed under this Indenture or under applicable law or regulation with respect of any transfer, exchange, redemption, purchase or repurchase, as applicable, of interest in any Note. 

(j) The Trustee is not required to give any bond or surety with respect to the performance of its duties or the exercise of its powers
under this Indenture. 

  
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 (k) In the event the Trustee receives inconsistent or conflicting requests and indemnity
from two or more groups of Holders, each representing less than a majority in aggregate principal amount of the Notes then outstanding, pursuant to the provisions of this Indenture, the Trustee, in its sole discretion, may determine what action, if
any, will be taken. 
 (l) The permissive right of the Trustee to take the actions enumerated in this Indenture or the
Intercreditor Deed will not be construed as an obligation or duty to do so and the Trustee will not be answerable other than for its own negligence or willful default. 
 (m) Delivery of reports, information and documents to the Trustee under Section 4.03 is for informational purposes only and the Trustee’s receipt of the foregoing will not constitute
constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates or Opinions of Counsel, as applicable). 
 (n) The rights, privileges, protections, immunities and
benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and will be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act
hereunder. 
 (o) The Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person
specified as so authorized in any such certificate previously delivered and not superseded. 
 (p) Under no circumstances will
the Trustee be liable to the Company for any special, punitive or consequential loss (being loss of business, goodwill, opportunities or profit) even if advised of the possibility of such loss or damage. 

(q) Trustee will not be liable if prevented or delayed in performing any of its obligations by reason of any present or future law
applicable to it, by any governmental or regulatory authority or by any circumstances beyond its control. 
 (r) In no event
shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of, or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God; it being understood that the Trustee shall use reasonable best efforts which are consistent with accepted practices in
the banking industry to resume performance as soon as practicable under the circumstances. 
 (s) The Trustee will not be liable
to any person if prevented or delayed in performing any of its obligations or discretionary functions under this Indenture by reason of any present or future law or by any circumstances beyond its control. 

(t) The Trustee will be entitled to assume without inquiry, that the Issuer has performed in accordance with all of the provisions of
this Indenture or Intercreditor Deed, unless notified to the contrary. 

  
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	 	Section 7.03	Individual Rights of Trustee. 

 The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any Affiliate of the Issuer with the same rights it would have if it
were not Trustee. However, in the event that the Trustee acquires any conflicting interest (within the meaning of the Trust Indenture Act) it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee or
resign. Any Paying Agent or Registrar may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 
  

	 	Section 7.04	Trustee’s Disclaimer. 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture, the Notes or any
Note Guarantee and it shall not be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use
or application of any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or
pursuant to this Indenture other than its certificate of authentication. 
  

	 	Section 7.05	Notice of Defaults. 

 If a
Default (or an Event of Default) occurs and is continuing and a responsible officer of the Trustee has received written notice of such Default (or Event of Default), the Trustee shall mail to each Holder a notice of the Default (or the Event of
Default) within the earlier of 90 days after it occurs or 30 days after it is known to a Trust Officer or written notice of it is received by the Trustee. Except in the case of a Default in the payment of principal of, premium, if any, or
interest on any Note (including payments pursuant to the redemption provisions of such Note), the Trustee may withhold notice if and so long as a committee of its Trust Officers in good faith determines that withholding notice is in the best
interests of the Holders. 
  

	 	Section 7.06	Reports by Trustee to Holders. 

 (a) Within 60 days after each February 15 beginning with the February 15 following the Closing Date, and for so long as Notes remain outstanding, the Trustee will mail to the Holders a
brief report dated as of such reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The
Trustee also will comply with TIA § 313(b)(2). The Trustee will also transmit by mail all reports as required by TIA § 313(c). 
 (b) A copy of each report at the time of its mailing to the Holders will be mailed by the Trustee to the Issuer and filed by the Trustee with the SEC and each stock exchange on which the Notes are listed
in accordance with TIA § 313(d). The Issuer will promptly notify the Trustee when the Notes are listed on any stock exchange or delisted therefrom. 
  

	 	Section 7.07	Compensation and Indemnity. 

 (a) The Issuer and each Note Guarantor, jointly and severally, will pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder and thereunder as the
Issuer and the Trustee shall from time to time agree in writing. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Issuer and each Note Guarantor, jointly and severally, will
reimburse the Trustee promptly upon request for all reasonable 

  
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disbursements, advances and expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses will include the reasonable
compensation, disbursements, expenses and advances of the Trustee’s agents, counsel, accountants and experts. 
 (b) The
Issuer and each Note Guarantor, jointly and severally, will indemnify the Trustee, its officers, directors, employees and agents and hold it harmless, against any and all losses, claims, damages, liabilities or expenses (including reasonably
incurred attorney’s and agent’s fees and expenses) incurred by it arising out of or in connection with the acceptance or administration of this trust and its duties under this Indenture or under the Intercreditor Deed, including the costs
and expenses of enforcing this Indenture against the Issuer (including this Section 7.07) and defending itself against any claim (whether asserted by the Issuer, or any Holder or any other Person) or liability in connection with the exercise or
performance of any of its powers or duties hereunder. The Trustee will notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer will not relieve the Issuer or each Note Guarantor of its
obligations hereunder. At the Trustee’s sole discretion, the Issuer will defend the claim and the Trustee will provide reasonable cooperation and may participate at the Issuer’s expense in the defense. Alternatively, the Trustee may at its
option have separate counsel of its own choosing and the Issuer will pay, and each Note Guarantor shall guarantee the payment of, the reasonably incurred fees and expenses of such counsel and agents; provided that the Issuer will not be
required to pay such fees and expenses if it assumes the Trustee’s defense and there is, in the opinion of the Trustee, no conflict of interest between the Issuer and the Trustee in connection with such defense and no Default or Event of
Default has occurred and is continuing. The Issuer need not pay for any settlement made without its written consent, which consent shall not be unreasonably withheld. The Issuer need not reimburse any expense or indemnify against any loss or
liability to the extent incurred by the Trustee through its negligence, bad faith or willful misconduct. 
 (c) The obligations
of the Issuer under this Section 7.07 and any Lien arising hereunder will survive the resignation or removal of the Trustee, the discharge of the Issuer’s obligations pursuant to Article 10 or the termination of this Indenture. 

(d) To secure the Issuer’s payment obligations in this Section 7.07, the Trustee will have a first priority Lien prior to the
Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture. 

(e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(a)(7) hereof occurs,
the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 

(f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable. 

 

	 	Section 7.08	Replacement of Trustee. 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor
Trustee’s acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any
time and be discharged from the trust hereby created by so notifying the Issuer. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The Issuer may
remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10 hereof; 

  
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 (2) the Trustee is adjudged a bankrupt or an insolvent or an order for
relief is entered with respect to the Trustee under any Bankruptcy Law; 
 (3) a custodian or public officer
takes charge of the Trustee or its property; or 
 (4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint
a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer.

 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the
retiring Trustee, the Issuer, or the Holders of at least 10% in principal amount of the then outstanding Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.10, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 (f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the resignation or removal of the retiring Trustee will become effective,
and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders. The retiring Trustee will promptly transfer all property held by it as
Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08,
the Issuer’s and each Note Guarantor’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 
  

	 	Section 7.09	Successor Trustee by Merger, etc. 

 If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act will
be the successor Trustee. 
  

	 	Section 7.10	Eligibility; Disqualification. 

 There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States or of any state thereof that is authorized under such laws to exercise
corporate trustee power, that is subject to supervision or examination by U.S. federal or state authorities and that has a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of
condition. 
 This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee shall comply with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities or certificates
of interest or participation in other securities of the Issuer are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 

  
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	 	Section 7.11	Preferential Collection of Claims Against Issuer. 

 The Trustee shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA
§ 311(a) to the extent indicated therein. 
 ARTICLE 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
  

	 	Section 8.01	Option to Effect Legal Defeasance or Covenant Defeasance. 

 The Issuer may, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, at any time, elect to have either Section 8.02 or 8.03 hereof be applied
to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 
  

	 	Section 8.02	Legal Defeasance and Discharge. 

 Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuer will, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose,
Legal Defeasance means that the Issuer will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05
hereof and the other Sections of this Indenture referred to in clauses (a) and (b) below, and to have satisfied all its other obligations under such Notes, and this Indenture (and the Trustee, on demand of and at the expense of the Issuer,
shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder: 
 (a) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on such Notes when such payments are due from the trust referred to in
Section 8.04 hereof; 
 (b) the Issuer’s obligations with respect to the Notes concerning issuing temporary Notes,
registration of Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security payments held in trust set forth in Article 2 hereof; 

(c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection therewith;
and 
 (d) this Article 8. 
 Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof. 

 

	 	Section 8.03	Covenant Defeasance. 

Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuer will,
subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of its obligations under the covenants contained in Sections 4.03, 4.04, 4.05, 4.07, 4.08, 4.09, 4.10 (including Section 3.09), 4.11,
4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.19, 4.20, 4.21, 4.22 and Section 5.01(a)(3) hereof with respect to the outstanding Notes on and after the date the conditions set 

  
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forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that
such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer may omit to comply with and will have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other
document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes will be unaffected thereby. In addition, upon
the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03 hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(a) (4), (6), (7) (as it
relates to Significant Subsidiaries and Note Guarantors) and (8) hereof will not constitute Events of Default. 
  

	 	Section 8.04	Conditions to Legal Defeasance or Covenant Defeasance. 

 In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof: 
 (a) The Issuer must irrevocably deposit in trust (subject to Section 8.05 hereof) with the Trustee cash in U.S. dollars or U.S. Government Obligations or a combination thereof, the principal of and
interest on which will be sufficient to pay the principal of, premium (if any) and interest on the outstanding Notes to redemption or maturity, as the case may be, as specified in an Officer’s Certificate, and the Issuer must specify whether
the Notes are being defeased to maturity or to a particular redemption date; 
 (b) in the case of an election under Sections
8.01 and 8.02 hereof, the Issuer has delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that: 
 (1) the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling; or 
 (2) since the date of this Indenture, there has been a change in the applicable U.S. federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal or U.K.
income tax purposes as a result of such deposit and Legal Defeasance and will be subject to U.S. federal and U.K. income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and Legal
Defeasance had not occurred; 
 (c) in the case of an election under Sections 8.01 and 8.03 hereof, the Issuer must deliver
to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal or U.K. income tax purposes as a result of such deposit and
Covenant Defeasance and will be subject to U.S. federal and U.K. income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and Covenant Defeasance had not occurred; 

  
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 (d) no Default or Event of Default shall have occurred and be continuing on the date of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit); 
 (e)
such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Issuer or any of its Restricted Subsidiaries is a
party or by which the Issuer or any of its Restricted Subsidiaries is bound and is not prohibited by Article 12 hereof or the Intercreditor Deed; 
 (f) the Issuer must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuer with the intent of preferring the Holders of Notes being defeased over the
other creditors of the Issuer with the intent of defeating, hindering, delaying or defrauding any other creditors of the Issuer or others; 
 (g) the Issuer must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for or relating to the Legal Defeasance or the
Covenant Defeasance have been complied with; and 
 (h) the Issuer provides the Trustee all other documents or other information
that the Trustee may reasonably require in connection with the defeasance. 
  

	 	Section 8.05	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. 

Subject to Section 8.06 hereof, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee
(or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in
accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of
principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. Money and securities so held in trust are not subject to Article 12 hereof or the Intercreditor Deed and the
Trustee is not prohibited from paying such funds to Holders by the terms of this Indenture or the Intercreditor Deed. 
 The
Issuer will pay and indemnify the Trustee against any Taxes imposed or levied on or assessed against the cash or U.S. Government Obligations deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof
other than any such Taxes which by law are for the account of the Holders of the outstanding Notes. 
 The obligations of the
Issuer under this Section 8.05 shall survive the resignation or renewal of the Trustee and/or satisfaction and discharge of this Indenture. 
 Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Issuer from time to time upon the request of the Issuer any money or U.S. Government Obligations
held by it as provided in Section 8.04 hereof which, in the opinion of an Independent Financial Advisor, expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a)
hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

  
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	 	Section 8.06	Repayment to Issuer. 

 Any
money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed for two years after such principal, premium, if any, or
interest has become due and payable shall be paid to the Issuer on its request or (if then held by the Issuer) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Issuer cause to be published once, in the New York Times and the Financial Times, notice that such money remains unclaimed and that, after a date specified therein, which
will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. 
  

	 	Section 8.07	Reinstatement. 

 If the
Trustee or Paying Agent is unable to apply any U.S. dollars, U.S. Government Obligations, in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the Issuer’s obligations under this Indenture and the Notes will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such
time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Issuer makes any payment of principal of, premium, if any, or
interest on any Note following the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 
  

	 	Section 9.01	Without Consent of Holders. 

 (a) Notwithstanding Section 9.02 of this Indenture, but subject to the terms of the Intercreditor Deed, the Parent, the Intermediate Guarantors, the Issuer, the Subsidiary Guarantors and the Trustee
may amend or supplement this Indenture, the Notes and the Note Guarantees without the consent of any Holder to: 

(1) cure any ambiguity, omission, defect or inconsistency; provided that such amendment does not, in the opinion of
the Trustee, adversely affect the rights of any Holder in any material respect; 
 (2) provide for the assumption
by a successor corporation in accordance with this Indenture of the obligations of the Issuer under this Indenture and the Notes; 
 (3) provide for uncertificated Notes in addition to or in place of certificated Notes (provided, however, that the uncertificated Notes are issued in registered form for purposes of
Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code); 

  
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 (4) add additional Guarantees with respect to the Notes or release
Subsidiary Guarantors from Subsidiary Guarantees as provided by the terms of this Indenture and the Intercreditor Deed; 
 (5) add to the covenants for the benefit of the Holders or to surrender any right or power conferred upon the Company, any Restricted Subsidiary or any of their Subsidiaries; 

(6) make any change that does not materially adversely affect the rights of any Holder in any respect, subject to the
provisions of this Indenture; 
 (7) provide for the issuance of Additional Notes; 

(8) mortgage, pledge, hypothecate or grant a security interest in any Property for the benefit of any Person;
provided, however, that the granting of such security interest is not prohibited by this Indenture and Section 4.12 is complied with; 
 (9) comply with any requirement of the SEC in connection with the qualification of this Indenture under the TIA; and 

(10) provide for a reduction in the minimum denominations of the Notes. 

(b) An amendment under this Section 9.01 may not make any change to the subordination provisions of this Indenture that materially
and adversely affects the rights under Article 12 hereof or under the Intercreditor Deed of any holder of Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors then outstanding unless the holders of such Senior Indebtedness (or any
group or Representative thereof authorized to give a consent) consent to such change. 
 (c) After an amendment becomes
effective, the Issuer is required to mail to Holders a notice briefly describing such amendment. However, the failure to give such notice to all Holders, or any defect therein, will not impair or affect the validity of the amendment. In addition,
for so long as the Notes are listed on the Luxembourg Stock Exchange and the rules of the Luxembourg Stock Exchange so require, the Issuer will inform such exchange of any amendment, supplement or waiver and will publish notice of such amendment,
supplement or waiver in Luxembourg in a daily newspaper with general circulation in Luxembourg (which is expected to be the Luxemburger Wort) or on the website of the Luxembourg Stock Exchange (www.bourse.lu). 

(d) Upon the request of the Issuer, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee
will join with the Issuer in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee
will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 
  

	 	Section 9.02	With Consent of Holders. 

Except as provided below in this Section 9.02, the Parent, the Intermediate Guarantors, the Issuer, the Senior Subordinated
Subsidiary Guarantors and the Trustee may amend or supplement this Indenture, the Notes and the Note Guarantees with the consent of the Holders of at least a majority in principal amount of the Notes then outstanding (including, without limitation,
consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes) and, subject to this Indenture and the Notes, any existing Default or Event of Default (other than a Default or Event of Default in the payment

  
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of the principal of, premium, if any, or interest on the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture
or the Notes may be waived with the consent of the Holders of a majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the
Notes); provided, however, that if any amendment, waiver or other modification would only affect the Notes, only the consent of the Holders of at least a majority in principal amount of the then-outstanding Notes shall be required.
Section 2.08 hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.02. 
 An amendment under Section 9.02 may not make any change that adversely affects the rights under Article 12 hereof or under the Intercreditor Deed of any holder of Senior Indebtedness of the Senior
Subordinated Subsidiary Guarantors then outstanding unless the holders of such Senior Indebtedness (or any group or Representative thereof authorized to give a consent) consent to such change under the terms of that Senior Indebtedness. 

Upon the request of the Issuer, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Issuer in the execution of such amended or supplemental indenture unless such amended or supplemental
indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental indenture.

 It is not necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any
proposed amendment or waiver, but it is sufficient if such consent approves the substance thereof. 
 After an amendment,
supplement or waiver under this Section 9.02 becomes effective, the Issuer will mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer to mail such notice, or any defect
therein, will not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. Subject to Section 6.07 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding
may waive compliance in a particular instance by the Issuer with any provision of this Indenture or the Notes. However, without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with
respect to any Notes held by a non-consenting Holder): 
 (a) reduce the principal amount of Notes whose Holders must consent to
an amendment or waiver; 
 (b) reduce the rate of or extend the time for payment of interest on any Note; 

(c) reduce the principal of or extend the Stated Maturity of any Note; 

(d) reduce the premium payable upon the redemption of any Note or change the time at which any Note may be redeemed pursuant to
Section 3.07 hereof; 
 (e) make any Note payable in money other than that stated in the Note; 

(f) impair the right of any Holder to receive payment of principal of, and interest on, such Holder’s Notes on or after the due
dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; 

  
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 (g) make any change in the amendment provisions which require each Holder’s consent or
in the waiver provisions described in this sentence; or 
 (h) modify the Note Guarantees in any manner materially adverse to
the Holders of the Notes. 
 Notwithstanding the foregoing, with the consent of at least seventy-five per cent (75%) in
aggregate principal amount of Notes then outstanding, an amendment or supplement may release any Note Guarantor from its obligations under its Note Guarantee. 
  

	 	Section 9.03	Compliance with Trust Indenture Act. 

 Every amendment or supplement to this Indenture or the Notes will be set forth in an amended or supplemental indenture that complies with the TIA as then in effect. 

 

	 	Section 9.04	Revocation and Effect of Consents. 

 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder that evidences the same debt as the consenting
Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver,
supplement or amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
  

	 	Section 9.05	Notation on or Exchange of Notes. 

 The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee shall, upon
receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make
the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver. 
  

	 	Section 9.06	Trustee to Sign Amendments, etc. 

 The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or
immunities of the Trustee. In executing any amended or supplemental indenture, the Trustee will be provided with and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by
Section 13.04 hereof, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture and is enforceable against the Issuer and each Note
Guarantor subject to customary exceptions. 

  
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 ARTICLE 10 
 SATISFACTION AND DISCHARGE 
  

	 	Section 10.01	Satisfaction and Discharge. 

 This Indenture will be discharged and will cease to be of further effect as to all Notes and Note Guarantees issued hereunder, when: 

(a) either: 
 (1) all the Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and applicable Notes for whose payment money has been deposited in trust and
thereafter repaid to the Issuer in accordance with this Indenture, have been delivered to the Trustee for cancellation; or 
 (2) all the Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable
within one year and the Issuer has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars or U.S. Government Obligations in such amounts as will be
sufficient without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the applicable Notes not delivered to the Trustee for cancellation for principal, premium and Additional Amounts, if any, and accrued
interest to the date of maturity or redemption; 
 (b) no Default or Event of Default has occurred and is continuing on the date
of the deposit or will occur as a result of the deposit and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Issuer is a party or by which the Issuer is bound; 

(c) the Issuer has paid or caused to be paid all sums payable by it under this Indenture; and 

(d) the Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment
of the applicable Notes at maturity or the redemption date, as the case may be. 
 In addition, the Issuer must deliver an
Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (2) of clause (a) of this Section, the provisions of
Section 10.02 and Section 8.06 will survive. In addition, nothing in this Section 10.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge of this
Indenture. 
  

	 	Section 10.02	Application of Trust Money. 

 Subject to the provisions of Section 8.06, all money deposited with the Trustee pursuant to Section 10.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes
and this Indenture, to the payment, either directly or through any Paying Agent as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with
the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

  
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 If the Trustee or Paying Agent is unable to apply any money or securities in accordance with
Section 10.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture
and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01; provided that if the Issuer has made any payment of principal of, premium, if any, or interest on any Notes because of the
reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 

ARTICLE 11 

GUARANTEES 
  

	 	Section 11.01	Guarantees. 

 (a) Each
Note Guarantor hereby jointly and severally irrevocably and unconditionally guarantees to each Holder and to the Trustee and its successors and assigns (1) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by
redemption or otherwise, of all obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Notes, whether for payment of principal of, or interest, premium, if any, on, the Notes and all other monetary obligations
of the Issuer under this Indenture and the Notes and (2) the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under this Indenture and
the Notes (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Note Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or
further assent from each such Note Guarantor, and that each such Note Guarantor shall remain bound under this Article 11 notwithstanding any extension or renewal of any Guaranteed Obligation. Each Senior Subordinated Subsidiary Guarantee will
be substantially in the form of Exhibit B hereto. The other Note Guarantees will be substantially in the form of Exhibit C hereto. 
 (b) Each Note Guarantor waives presentation to, demand of payment from and protest to the Issuer of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Note Guarantor
waives notice of any default under the Notes or the Guaranteed Obligations. The obligations of each Note Guarantor hereunder shall not be affected by (1) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any
right or remedy against the Issuer or any other Person under this Indenture, the Notes or any other agreement or otherwise; (2) any extension or renewal of any thereof; (3) any rescission, waiver, amendment or modification of any of the
terms or provisions of this Indenture, the Notes or any other agreement; (4) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (5) the failure of any Holder or Trustee to exercise
any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership of such Note Guarantor, except as provided in Sections 11.02(b) and (c). 

(c) Each Note Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided among the Note
Guarantors, such that such Note Guarantor’s obligations would be less than the full amount claimed. Each Note Guarantor hereby waives any right to which it may be entitled to have the assets of the Issuer first be used and depleted as payment
of the Issuer’s or such Note Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Note Guarantor hereunder. Each Note Guarantor hereby waives any right to which it may be entitled to require that the
Issuer be sued prior to an action being initiated against such Note Guarantor. 

  
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 (d) Each Note Guarantor further agrees that its Guarantee herein constitutes a guarantee of
payment, performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(e) The Senior Subordinated Subsidiary Guarantees of the Senior Subordinated Subsidiary Guarantors are, to the extent and in the manner
set forth in Article 12 and the Intercreditor Deed, subordinated and subject in right of payment to the prior payment in full of the principal of and premium, if any, and interest on all Senior Indebtedness of the Senior Subordinated Subsidiary
Guarantors and is made subject to such provisions of this Indenture. 
 (f) Except as expressly set forth in Sections 8.02,
11.02 and 11.06, Article 12 and the Intercreditor Deed, the obligations of each Note Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender,
alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without
limiting the generality of the foregoing, the obligations of each Note Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy
under this Indenture, the Notes or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, wilful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to
do any other act or thing which may or might in any manner or to any extent vary the risk of any Note Guarantor or would otherwise operate as a discharge of any Note Guarantor as a matter of law or equity. 

(g) Except as expressly set forth in Sections 8.02, 11.02 and 11.06, Article 12 and the Intercreditor Deed, each Note Guarantor
agrees that its Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. Each Note Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may
be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Issuer or otherwise.

 (h) In furtherance of the foregoing and not in limitation of any other right which any Holder or the Trustee has at law or in
equity against any Note Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, by redemption or
otherwise, or to perform or comply with any other Guaranteed Obligation, each Note Guarantor, subject in the case of the Senior Subordinated Subsidiary Guarantors to the terms of Article 12 and the Intercreditor Deed, hereby promises to and shall,
upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the Trustee an amount equal to the sum of (1) the unpaid principal amount of such Guaranteed Obligations, (2) accrued and unpaid
interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and (3) all other monetary obligations of the Issuer to the Holders and the Trustee. 

(i) Each Note Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any
Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations and all obligations to which the Guaranteed Obligations are subordinated as provided in Article 12 and the Intercreditor Deed. Each Note Guarantor
further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any
Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration 

  
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in respect of the Guaranteed Obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such
Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Guarantor for the purposes of Section 11.01. 
 (j) Each Note Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under
Section 11.01. 
 (k) Upon request of the Trustee, each Note Guarantor shall execute and deliver such further instruments
and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
  

	 	Section 11.02	Limitation on Liability. 

(a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations
guaranteed hereunder by any Note Guarantor shall not exceed the maximum amount that can be hereby guaranteed by the applicable Note Guarantor without rendering the Guarantee, as it relates to such Note Guarantor, voidable under applicable law
relating to ultra vires, fraudulent conveyance, fraudulent transfer, corporate benefit or similar laws affecting the rights of creditors generally. 
 (b) Each of the Senior Subordinated Subsidiary Guarantees of the Senior Subordinated Subsidiary Guarantors shall terminate and be of no further force or effect and such Senior Subordinated Subsidiary
Guarantor shall be deemed to be released from all obligations under Article 11, 
 (1) concurrently with any
sale by way of enforcement by the relevant Security Trustee (as defined in the Intercreditor Deed) of a security interest therein of (x) all of the Capital Stock of such Senior Subordinated Subsidiary Guarantor or any parent company of such
Senior Subordinated Subsidiary Guarantor or (y) all or substantially all of the assets of such Senior Subordinated Subsidiary Guarantor, in each case so long as: 

(A) the proceeds of such sale are in cash (or substantially in all cash) and are applied in accordance with the
Intercreditor Deed; 
 (B) such Senior Subordinated Subsidiary Guarantor is released from its obligations in
respect of any other Indebtedness of Holdings, the Issuer and any other Restricted Subsidiary; provided, however, that nothing in the Intercreditor Deed shall require the release by such Senior Subordinated Subsidiary Guarantor or any of its
Subsidiaries of any of their obligations in respect of the Senior Liabilities or the High Yield Trustee Direct Claims; and 
 (C) the sale is made pursuant to either a public auction or a competitive bid process to obtain the best price reasonably obtainable given the then-current condition (financial or otherwise), earnings,
business, assets and prospects of such Senior Subordinated Subsidiary Guarantor and its Subsidiaries, the Security Trustee having consulted with an internationally recognized investment bank (including without limitation and to the extent
appropriate a Senior Lender or a relationship bank of the Issuer or its Subsidiaries) or an internationally recognized accounting firm regarding the appropriate procedures for obtaining the best price for the shares or assets, considered the
recommendations of that investment bank or accounting firm and used its reasonable 

  
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efforts to cause the procedures recommended by that investment bank or accounting firm to be implemented in all material respects in relation to the sale and to permit Holders to participate in
the sale process as bidders; provided, however, that the Security Trustee shall not be under any further obligation to cause such recommendations to be implemented to the extent not implemented in connection with such sale by the relevant
court, authority or other third party required to act in connection with such sale; provided, further, that such reasonable efforts will, to the extent permitted by applicable law, include attempting to conduct such sale process other than
through a court or legal proceeding. 
 (2) concurrently with any sale by an administrator under the U.K.
Insolvency Act 1986 of (x) all of the Capital Stock of such Senior Subordinated Subsidiary Guarantor or any parent company of such Senior Subordinated Subsidiary Guarantor or (y) all or substantially all of the assets of such Senior
Subordinated Subsidiary Guarantor, in each case so long as: 
 (A) the administrator is an insolvency
practitioner whose appointment the Trustee has not objected to (acting reasonably) under the provisions of the U.K. Insolvency Act 1986 relating to the selection of a person or persons to be an/the administrator; 

(B) the proceeds of such sale are in cash (or substantially in all cash) and are applied in accordance with the
Intercreditor Deed; 
 (C) such Senior Subordinated Subsidiary Guarantor is released from its obligations in
respect of any other Indebtedness of Holdings, the Issuer or any other Restricted Subsidiary; provided, however, that nothing in the Intercreditor Deed shall require the release by such Senior Subordinated Subsidiary Guarantor or any of its
Subsidiaries of any of their obligations in respect of the Senior Liabilities or the High Yield Trustee Direct Claims; and 
 (D) the sale is made pursuant to a public auction or a competitive bid process to obtain the best price reasonably obtainable given the then-current condition (financial or otherwise), earnings, business,
assets and prospects of such Senior Subordinated Subsidiary Guarantor and its Subsidiaries, the administrator having consulted with an internationally recognized investment bank (including without limitation and to the extent appropriate a Senior
Lender or a relationship bank of the Issuer or its Subsidiaries) or an internationally recognized accounting firm regarding the appropriate procedures for obtaining the best price for the shares or assets, considered the recommendations of that
investment bank or accounting firm and used its reasonable efforts to cause the procedures recommended by that investment bank or accounting firm to be implemented in all material respects in relation to the sale and to permit Holders to participate
in the sale process as bidders. 
 (3) upon Legal Defeasance or Covenant Defeasance of the Issuer’s
obligations or satisfaction and discharge of this Indenture as provided in Article 8 and Article 10; or 
 (4)
upon designation of such Senior Subordinated Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with the terms of this Indenture, including Section 4.17. 

  
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 In addition, with the consent of at least seventy-five per cent (75%) in aggregate
principal amount of Notes then outstanding, an amendment or supplement may release any Note Guarantor from its obligations under its Note Guarantee. 
 Upon the presentation of an Officer’s Certificate with respect to the occurrence of an event specified in the preceding paragraphs, the Trustee will execute any documents reasonably required in order
to evidence such release, discharge and termination in respect of such Senior Subordinated Subsidiary Guarantee. 
 (c) Any
Additional Subsidiary Guarantor will automatically and unconditionally be released from all obligations under its Additional Subsidiary Guarantee, and such Additional Subsidiary Guarantee shall thereupon terminate and be discharged and be of no
further force or effect, upon the occurrence of any of the events described in clauses (1) through (4) of paragraph (b), substituting such Additional Subsidiary Guarantor for the Senior Subordinated Subsidiary Guarantors where applicable.
In addition, any Additional Subsidiary Guarantee shall thereupon terminate and be discharged and be of no further force or effect at any time the relevant Additional Subsidiary Guarantor is fully and unconditionally released (other than as a result
of payment thereof) from all the obligations that resulted in such Additional Subsidiary Guarantor being required to provide an Additional Subsidiary Guarantee under Section 4.19. 

 

	 	Section 11.03	Successors and Assigns. 

This Article 11 shall be binding upon each Note Guarantor and its successors and assigns and shall inure to the benefit of the
successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in the Notes shall automatically
extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 
  

	 	Section 11.04	No Waiver. 

 Neither a
failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or privilege under this Article 11 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or
further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under
this Article 11 at law, in equity, by statute or otherwise. 
  

	 	Section 11.05	Modification. 

 No
modification, amendment or waiver of any provision of this Article 11, nor the consent to any departure by any Note Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then
such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Note Guarantor in any case shall entitle such Note Guarantor to any other or further notice or demand in the
same, similar or other circumstances. 
  

	 	Section 11.06	Execution of Supplemental Indenture for Future Guarantors. 

 (a) Each Subsidiary which is required to become a Subsidiary Guarantor pursuant to Section 4.19, 

  
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 (b) each future Subsidiary of the Company of which the Issuer is a Subsidiary that becomes
an Intermediate Guarantor as contemplated in the definition thereof, and 
 (c) each Virgin Media Holding Company that is not a
Subsidiary of Parent that guarantees the Notes on a senior basis as contemplated in the last paragraph of the definition of “Change of Control,” 
 shall promptly execute and deliver to the Trustee a supplemental indenture pursuant to which such Subsidiary or Virgin Media Holding Company shall become a Note Guarantor under this Article 11 and
shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Opinion of Counsel and an Officer’s Certificate to the effect that such
supplemental indenture has been duly authorized, executed and delivered by such Subsidiary or Virgin Media Holding Company and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other
similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Note Guarantor is a legal, valid and binding obligation of such Note Guarantor,
enforceable against such Note Guarantor in accordance with its terms and or to such other matters as the Trustee may reasonably request. 
  

	 	Section 11.07	Non-Impairment 

 The
failure to endorse a Note Guarantee on any Note shall not affect or impair the validity thereof. 
 ARTICLE 12 

SUBORDINATION OF THE SENIOR SUBORDINATED SUBSIDIARY GUARANTEES 

 

	 	Section 12.01	Agreement To Subordinate. 

The Senior Subordinated Subsidiary Guarantors agree, and each Holder by accepting a Note agrees, that the obligations of the Senior
Subordinated Subsidiary Guarantors hereunder are subordinated in right of payment, to the extent and in the manner provided in the Intercreditor Deed and to the prior payment in full of all Senior Indebtedness of the Senior Subordinated Subsidiary
Guarantors and that the subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors. Each Holder, by accepting a Note, shall be deemed to have agreed to and accepted
the terms and conditions of the Intercreditor Deed. A copy of such Intercreditor Deed shall be available on any Business Day upon prior written request at the offices of the Trustee and, for so long as any Notes are listed on the Luxembourg Stock
Exchange, at the offices of the Paying Agent in Luxembourg. The obligations hereunder with respect to the Senior Subordinated Subsidiary Guarantors shall in all respects rank pari passu with all other Senior Subordinated Indebtedness of the
Senior Subordinated Subsidiary Guarantors and shall rank senior to all existing and future Subordinated Obligations of the Senior Subordinated Subsidiary Guarantors; and only Indebtedness of the Senior Subordinated Subsidiary Guarantors that is
Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors, including any obligations owed by the Senior Subordinated Guarantors in Respect of Bank Indebtedness and the Existing Senior Secured Notes, shall rank senior to the obligations of
the Senior Subordinated Subsidiary Guarantors in accordance with the provisions set forth herein. Notwithstanding anything to the contrary contained herein, the Trustee’s rights under Section 7.07 shall rank as set forth in the
Intercreditor Deed. 

  
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	 	Section 12.02	Rights of Trustee and Paying Agent. 

 Subject to the terms of the Intercreditor Deed, the Trustee or any Paying Agent may continue to make payments on the Notes and shall not be charged with knowledge of the existence of facts that would
prohibit the making of any such payments unless, not less than two Business Days prior to the date of such payment, a Responsible Officer of the Trustee receives notice in writing reasonably satisfactory to it that payments may not be made under
this Article 12 or the Intercreditor Deed. 
 The Trustee in its individual or any other capacity may hold Senior
Indebtedness of the Senior Subordinated Subsidiary Guarantors with the same rights it would have if it were not Trustee. The Registrar and co-registrar and any Paying Agent may do the same with like rights. The Trustee shall be entitled to all the
rights set forth in this Article 12 and the Intercreditor Deed with respect to any Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors which may at any time be held by it, to the same extent as any other holder of Senior
Indebtedness of the Senior Subordinated Subsidiary Guarantors; and nothing in Article 7 shall deprive the Trustee of any of its rights as such holder. Nothing in this Article 12 shall apply to claims of, or payments to, the Trustee under
or pursuant to Section 7.07 or any other Section of this Indenture. 
  

	 	Section 12.03	Trustee Entitled To Rely. 

Upon any payment or distribution pursuant to this Article 12 or the Intercreditor Deed, the Trustee and the Holders shall be entitled
to rely (a) upon any order or decree of a court of competent jurisdiction in which any bankruptcy, reorganization, insolvency, receivership or similar proceedings relating to the Senior Subordinated Subsidiary Guarantors and their properties is
pending, (b) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Trustee or to the Holders or (c) upon the Representatives for the holders of Senior Indebtedness of the Senior
Subordinated Subsidiary Guarantors for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors and other Indebtedness of
the Senior Subordinated Subsidiary Guarantors, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 12 or the Intercreditor Deed. In the event that the
Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors to participate in any payment or distribution pursuant to this
Article 12 or the Intercreditor Deed, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors held by such
Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Article 12 or the Intercreditor Deed, and, if such evidence is not furnished,
the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 7.01 and 7.02 shall be applicable to all actions or omissions of actions by the
Trustee pursuant to this Article 12 or the Intercreditor Deed. 
  

	 	Section 12.04	Trustee To Effectuate Subordination. 

 Each Holder by accepting a Note authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the
Holders and the holders of Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors, including by entering into, and as provided for in, the Intercreditor Deed and appoints the Trustee as attorney-in-fact for any and all such purposes.

  
 97 

	 	Section 12.05	Reliance by Holders of Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors on Subordination Provisions. 

Each Holder by accepting a Note acknowledges and agrees that the foregoing provisions and the provisions of the Intercreditor Deed are,
and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness of the Senior Subordinated Subsidiary Guarantors, whether such Senior Indebtedness was created or acquired before or after the issuance of the Notes,
to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in
continuing to hold, such Senior Indebtedness. 
 ARTICLE 13 

MISCELLANEOUS 
  

	 	Section 13.01	Trust Indenture Act Controls. 

 The Indenture has been qualified under the Trust Indenture Act, is subject to that Act and contains provisions which define the rights of Holders under the Notes. If any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by TIA § 318(c), the duties imposed by the TIA will control. 
  

	 	Section 13.02	Notices. 

 Any notice or
communication by the Issuer or the Trustee to the others is duly given if in writing and delivered in Person or mailed by first class mail (registered or certified, return receipt requested), telex, telecopier or overnight air courier guaranteeing
next day delivery, to the others’ address: 
 If to the Issuer or any Note Guarantor: 

Virgin Media Finance PLC. 
 909 Third Avenue 
 Suite 2863 

New York, NY 10022 
 Telecopier: +1 212-906-8440 
 Attention: Secretary and General Counsel 

with a copy to: 

Media House 

Bartley Wood Business Park 
 Hook 
 Hampshire RG27 9UP 

United Kingdom 

Telecopier: +44 125 675 4897 
 Attention: Secretary and General Counsel 

  
 98 

 with a copy to: 
 Milbank, Tweed, Hadley & McCloy LLP 
 10 Gresham Street 

London EC2V 7JD 

United Kingdom 

Telecopier: +44 207 615 3100 
 Attention: Timothy E. Peterson 
 If to the Trustee: 

One Canada Square 
 London E14 5AL 
 United Kingdom 

Telecopier No. +44 207 964 2536 
 Attention: Corporate Trust Administration 
 The Issuer, any Note Guarantor or the
Trustee, by notice to the others may designate additional or different addresses for subsequent notices or communications. 
 In
addition, for so long as any of the Notes are listed on the Luxembourg Stock Exchange and the rules of the Luxembourg Stock Exchange so require, notices with respect to the Notes listed on the Luxembourg Stock Exchange will be published in a leading
newspaper having general circulation in Luxembourg (which is expected to be the Luxemburger Wort) or on the website of the Luxembourg Stock Exchange (www.bourse.lu). 

All notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery. 
 Any notice or communication to a Holder will be mailed by first
class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication will also be so mailed to any Person
described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the
addressee receives it. 
 If the Issuer mails a notice or communication to Holders, it will mail a copy to the Trustee and each
Agent at the same time. 
  

	 	Section 13.03	Communication by Holders with Other Holders. 

 Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Notes. The Issuer, the Note Guarantors, the Trustee, the Registrar
and anyone else shall have the protection of TIA § 312(c). 

  
 99 

	 	Section 13.04	Certificate and Opinion as to Conditions Precedent. 

 Upon any request or application by the Issuer to the Trustee to take any action under this Indenture, the Issuer shall furnish to the Trustee: 

(1) an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which must include the
statements set forth in Section 13.05 hereof) stating that, in the opinion of the signer, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must include the statements
set forth in Section 13.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied with. 
  

	 	Section 13.05	Statements Required in Certificate or Opinion. 

 Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply
with the provisions of TIA § 314(e) and must include: 
 (1) a statement that the Person making such
certificate or opinion has read such covenant or condition; 
 (2) a brief statement as to the nature and scope
of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such
covenant or condition has been complied with; and 
 (4) a statement as to whether or not, in the opinion of such
Person, such condition or covenant has been complied with. 
  

	 	Section 13.06	Rules by Trustee and Agents. 

 The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 

 

	 	Section 13.07	No Personal Liability of Directors, Officers, Employees and Stockholders. 

 No past, present or future director, officer, employee, incorporator or shareholder of Parent, the Company, any Intermediate Guarantor, the Issuer or any Subsidiary Guarantor, as such, will have any
liability for any obligations of Parent, any Intermediate Guarantor, the Issuer or any Subsidiary Guarantor under the Parent Guarantee, the Intermediate Guarantees, the Notes, the Subsidiary Guarantees or this Indenture, or for any claim based on,
in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective
to waive liabilities under U.S. Federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

  
 100

	 	Section 13.08	Governing Law. 

 THIS
INDENTURE AND THE NOTES WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. 
  

	 	Section 13.09	Waiver of Jury Trial. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
  

	 	Section 13.10	No Adverse Interpretation of Other Agreements. 

 This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used
to interpret this Indenture. 
  

	 	Section 13.11	Successors. 

 All
agreements of the Issuer in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its successors. 
  

	 	Section 13.12	Severability. 

 In case
any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

 

	 	Section 13.13	Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the
same agreement. 
  

	 	Section 13.14	Table of Contents, Headings, etc. 

 The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this
Indenture and will in no way modify or restrict any of the terms or provisions hereof. 
  

	 	Section 13.15	Submission to Jurisdiction; Appointment of Agent. 

 The Issuer and each Note Guarantor irrevocably submit to the non-exclusive jurisdiction of any New York state or U.S. federal court located in the Borough of Manhattan in the City and State of New York
over any suit, action or proceeding arising out of or relating to this Indenture. The Issuer and each Note Guarantor irrevocably waive, to the fullest extent permitted by law, any objection which they may have, pursuant to New York law or otherwise,
to the laying of the venue of any such suit, action or proceeding brought in such a court and any claim that any such suit, action or proceeding brought in such 

  
 101

 
a court has been brought in any inconvenient forum. In furtherance of the foregoing, the Issuer and each Note Guarantor hereby irrevocably designates and appoints Parent (at its office at 909
Third Avenue, Suite 2863, New York, New York 10022) as its agent to receive service of all process brought against them with respect to any such suit, action or proceeding in any such court in the City and State of New York, such service being
hereby acknowledged by it to be effective and binding service in every respect. Copies of any such process so served shall also be given to the Issuer in accordance with Section 13.02 hereof, but the failure of the Issuer to receive such copies
shall not affect in any way the service of such process as aforesaid. 
 Nothing in this Section shall limit the right of the
Trustee or any Holder to bring proceedings against the Issuer in the courts of any other jurisdiction or to serve process in any other manner permitted by law. 
 [Signatures on following pages] 

  
 102

 SIGNATURES 
 Dated as of March 13, 2012 
  

			
	VIRGIN MEDIA FINANCE PLC
		
	By:	 	 /s/ Robert Gale

	Name:	 	Robert Gale
	Title:	 	Director
	
	VIRGIN MEDIA INC.
		
	By:	 	 /s/ Scott Dresser

	Name:	 	Scott Dresser
	Title:	 	Secretary
	
	VIRGIN MEDIA GROUP LLC
		
	By:	 	 /s/ Scott Dresser

	Name:	 	Scott Dresser
	Title:	 	Secretary
	
	VIRGIN MEDIA HOLDINGS INC.
		
	By:	 	 /s/ Scott Dresser

	Name:	 	Scott Dresser
	Title:	 	Secretary
	
	VIRGIN MEDIA (UK) GROUP, INC.
		
	By:	 	 /s/ Robert Gale

	Name:	 	Robert Gale
	Title:	 	Director
	
	VIRGIN MEDIA COMMUNICATIONS LIMITED
		
	By:	 	 /s/ Robert Gale

	Name:	 	Robert Gale
	Title:	 	Director

			
	VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED
		
	By:	 	 /s/ Robert Gale

	Name:	 	Robert Gale
	Title:	 	Director
	
	VIRGIN MEDIA INVESTMENTS LIMITED
		
	By:	 	 /s/ Robert Gale

	Name:	 	Robert Gale
	Title:	 	Director

			
	THE BANK OF NEW YORK MELLON
		
	By:	 	 /s/ Trevor Blewer

	Name:	 	Trevor Blewer
	Title:	 	Vice President

			
	THE BANK OF NEW YORK MELLON (LUXEMBOURG) S.A.
		
	By:	 	 /s/ Trevor Blewer

	Name:	 	Trevor Blewer
	Title:	 	Vice President

 Exhibit A 
 [Form of Face of Note] 
 [Insert the Global Note Legend, if applicable pursuant to
the provisions of the Indenture] 
 CUSIP: 92769V AC3 

ISIN: US92769VAC37 
 5.25% Senior Note due 2022 
  

					
	 No.        
	  	$	[	—] 

 VIRGIN MEDIA FINANCE PLC 
 Virgin Media Finance PLC (the “Issuer”) promises to pay to CEDE & CO. or its registered assigns, the principal sum of [—]
U.S. Dollars on February 15, 2022. 
 Interest Payment Dates: February 15 and August 15, commencing August 15, 2012.

 Record Dates: February 1 and August 1. 
 Dated: [—] 

  
 A-1

 Exhibit A 

 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed by its duly authorized
director, officer or other authorized signatory. 
  

			
	 VIRGIN MEDIA FINANCE PLC

		
	By:	 	  

		 	Name:
		 	Title:

  
 A-2

 Exhibit A 

 

 Certificate of Authentication 

This is one of the 5.25% Senior Notes due 2022 referred to in the within-mentioned Indenture. 

Dated: [—] 

 

			
	 THE BANK OF NEW YORK MELLON
 as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-3

 [Form of Reverse of Note] 

5.25% Senior Note due 2022 
 (1) INTEREST. Virgin Media Finance PLC, a public limited company organized under the laws of England and Wales (the “Issuer”), promises to pay
interest on the principal amount of this Note at 5.25% per annum from August 15, 2022 until maturity. The Issuer will pay interest semi-annually in arrears on February 15 and August 15 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of
issuance; provided that the first Interest Payment Date shall be August 15, 2012. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, and on
overdue installments of interest, if any (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 (2) METHOD OF PAYMENT. The Issuer will pay interest on
the Notes to the Persons who are registered Holders at the close of business on the February 1 or August 1 immediately preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such
Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest at the office or agency of the Issuer maintained for such
purpose as provided in the Indenture or, at the option of the Issuer, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of
immediately available funds will be required with respect to principal of and interest and premium, if any, on all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Issuer or the Paying Agent.
Such payment will be in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts. 
 (3) PAYING AGENT AND REGISTRAR. Initially, the Trustee will act as Paying Agent and Registrar and The Bank of New York
Mellon (Luxembourg) S.A. will act as Paying Agent in Luxembourg. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer or any of its Subsidiaries may act as Registrar. However, if and for so long as the Notes
is listed on the Luxembourg Stock Exchange and traded on the Euro MTF market of the Luxembourg Stock Exchange and the rules of such exchange so require, the Issuer will publish notice of the change in Paying Agent or Registrar in a daily leading
newspaper with general circulation in Luxembourg (which is expected to be the Luxemburger Wort) or on the website of the Luxembourg Stock Exchange (www.bourse.lu). 
 (4) INDENTURE. The Issuer issued the Notes under an Indenture, dated as of March 13, 2012 (the “Indenture”), among the Issuer, Parent, the
Intermediate Guarantors, the Senior Subordinated Subsidiary Guarantors, the Trustee and The Bank of New York Mellon (Luxembourg) S.A. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”). The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To
the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are senior unsecured obligations of the Issuer. Unless otherwise defined herein,
capitalized terms used herein have the meanings assigned to them in the Indenture. 

  
 A-4

 (5) OPTIONAL REDEMPTION WITH
MAKE-WHOLE. 
 The Issuer may also choose to redeem the Notes, in whole or in
part, on not less than 10 nor more than 60 days’ prior notice, by paying a redemption price equal to the sum of: 
 (a)
100% of the principal amount of the Notes to be redeemed, plus 
 (b) the Applicable Premium; 

plus accrued and unpaid interest thereon, if any, to the redemption date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). 
 (6) MANDATORY
REDEMPTION. The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 (7) REPURCHASE AT OPTION OF HOLDER. 

(a) Upon the occurrence of a Change of Control, unless the Issuer has exercised its right to redeem the Notes as described in
Section 3.07 of the Indenture, each Holder will have the right to require the Issuer to purchase all or any part of such Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid
interest thereon, if any, to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). Within 30 days following any Change of Control, the Issuer
will mail a notice to each Holder setting forth the procedures governing the Repurchase Offer as set forth in the Indenture. 

(b) In the event of an Asset Disposition that requires the purchase of Notes pursuant to clause (a)(3)(C) of Section 4.10 of the
Indenture, the Issuer will be required to commence an Excess Proceeds Offer pursuant to Sections 3.09 and 4.10(b) of the Indenture to purchase the maximum principal amount of Notes that may be purchased out of the Allocable Excess Proceeds at
an offer price in cash in an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest thereon, if any, to the date fixed for the closing of such offer (subject to the right of Holders of record on the relevant record
date to receive interest due on the relevant Interest Payment Date) in accordance with the procedures set forth in the Indenture. 
 (8) NOTICE OF REDEMPTION. Notice of redemption shall be given in accordance with Section 3.03 of the Indenture and the effect of
notice of redemption is set forth in Section 3.04 of the Indenture. 
 (9) DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered
and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents. The Registrar may not require a Holder to pay any taxes and
fees, except as otherwise set forth in the Indenture. The Registrar need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the
Registrar need not exchange or register the transfer of any Notes (1) for a period of 15 days before a selection of Notes to be redeemed, (2) tendered and not withdrawn in connection with a Repurchase Offer or an Excess Proceeds
Offer; or (3) during the period between a record date and the corresponding Interest Payment Date. 

  
 A-5

 (10) PERSONS DEEMED
OWNERS. The registered Holder of a Note may be treated as its owner for all purposes, except as otherwise ordered by a court of competent jurisdiction. 

(11) AMENDMENT, SUPPLEMENT AND WAIVER. The provisions
of the Indenture governing amendment, supplement and waiver are set forth in Article 9 of the Indenture. 
 (12)
DEFAULTS AND REMEDIES. Events of Default and Remedies are set forth in Article 6 of the Indenture. 
 (13) TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept
deposits from and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not the Trustee. 
 (14) NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee, incorporator or shareholder of
Parent, the Company, any Intermediate Guarantor, the Issuer or any Subsidiary Guarantor, as such, will have any liability for any obligations of Parent, any Intermediate Guarantor, the Issuer or any Subsidiary Guarantor under the Parent Guarantee,
the Intermediate Guarantees, the Notes, the Subsidiary Guarantees or the Indenture, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases such liability.
The waiver and release are part of the consideration for issuance of the Notes. 
 (15)
AUTHENTICATION. This Note will not be valid until authenticated by the manual or facsimile signature of the Trustee or an authenticating agent. 

(16) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee,
such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors Act). 

(17) CUSIP AND ISIN NUMBERS. The Issuer has caused CUSIP and ISIN numbers to be printed on the
Notes and the Trustee may use CUSIP and ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon. 
 (18) GOVERNING
LAW. THIS NOTE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE
LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY). 
 The Issuer will furnish to any Holder upon written request and
without charge a copy of the Indenture. Requests may be made to: 
 Virgin Media Finance PLC 

909 Third Avenue, Suite 2863 
 New York, New York
10022 
 United States of America 

Attention: Secretary and General Counsel 

  
 A-6

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	 (I) or (we) assign and transfer this Note to:
	  	  

		  	(Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s
name, address and zip code) 
  

			
	and irrevocably appoint	 	  

	to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

  

			
	Date:	 	  

  

							
		 		 	Your Signature:	  	  

		 	(Sign exactly as your name appears on the face of this 
Note)

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-7

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Issuer pursuant to
Section 4.10 or 4.15 of the Indenture, check the appropriate box below: 

 ̈  Section 4.10          
       ̈  Section 4.15 
 If you want
to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased: 

$                 

 

			
	Date:	 	  

  

							
		 		 	Your Signature:	  	  

		 	(Sign exactly as your name appears on the face of this 
Note)

							
				
		 		 	Tax Identification No.:	  	  

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-8

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	Date of Exchange	  	Amount of decrease in
Principal Amount of
this Global Note	  	Amount of increase in
Principal Amount of
this Global Note	  	Principal Amount
of this Global 
Note
following such decrease
(or increase)	  	Signature of authorized
officer of Trustee or
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-9

 EXHIBIT B 
 [FORM OF SENIOR SUBORDINATED SUBSIDIARY GUARANTEE] 
 For value received, each of
the undersigned (the “Senior Subordinated Subsidiary Guarantors”), to the extent set forth in and subject to the terms of the Indenture, dated as of March 13, 2012 (the “Indenture”), among Virgin Media Finance
PLC, a public limited company organized under the laws of England and Wales (the “Issuer”), Virgin Media Inc., a Delaware corporation, Virgin Media Group LLC, a Delaware limited liability company, Virgin Media Holdings Inc., a
Delaware corporation, Virgin Media (UK) Group, Inc., a Delaware corporation, Virgin Media Communications Limited, a limited company organized under the laws of England and Wales, Virgin Media Investment Holdings Limited, a limited company organized
under the laws of England and Wales, Virgin Media Investments Limited, a limited company organized under the laws of England and Wales, The Bank of New York Mellon, as trustee (the “Trustee”) and The Bank of New York Mellon
(Luxembourg) S.A., hereby jointly and severally with each other Senior Subordinated Subsidiary Guarantor irrevocably and unconditionally guarantees to each Holder and to the Trustee and its successors and assigns (1) the full and punctual
payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all obligations of the Issuer under the Indenture (including obligations to the Trustee) and the Notes, whether for payment of principal of or interest on
or premium, if any, on the Notes and all other monetary obligations of the Issuer under the Indenture and the Notes and (2) the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for
fees, expenses, indemnification or otherwise under the Indenture and the Notes (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Senior Subordinated Subsidiary Guarantor further
agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from such Senior Subordinated Subsidiary Guarantor, and that such Senior Subordinated Subsidiary Guarantor shall remain bound
under this Guarantee notwithstanding any extension or renewal of any Guaranteed Obligation. 
 The obligations of each Senior
Subordinated Subsidiary Guarantor to the Holders and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth in Article 11 of the Indenture. This Guarantee is subordinated to other Indebtedness as set forth in Article 12
of the Indenture and pursuant to the Intercreditor Deed. Reference is hereby made to the Indenture for the precise terms and limitations of this Guarantee. Each Holder of the Note to which this Guarantee is endorsed, by accepting such Note, agrees
to and shall be bound by such provisions. 
 Each Senior Subordinated Subsidiary Guarantee will be limited to an amount not to
exceed the maximum amount that can be guaranteed by such Senior Subordinated Subsidiary Guarantor without rendering such Senior Subordinated Subsidiary Guarantee voidable under applicable law relating to ultra vires, fraudulent conveyance,
fraudulent transfer, corporate benefit or similar laws affecting the rights of creditors generally. 
 [Signature on following
page] 

  
 B-1

 IN WITNESS WHEREOF, each Senior Subordinated Subsidiary Guarantor has caused this Guarantee
to be signed by a duly authorized officer. 
  

			
	VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VIRGIN MEDIA INVESTMENTS LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-2

 EXHIBIT C 
 [FORM OF SENIOR GUARANTEE] 
 For value received, each of the undersigned, to the
extent set forth in and subject to the terms of the Indenture, dated as of March 13, 2012 (the “Indenture”), among Virgin Media Finance PLC, a public limited company organized under the laws of England and Wales (the
“Issuer”), Virgin Media Inc., a Delaware corporation (the “Parent”), Virgin Media Group LLC, a Delaware limited liability company (the “Company”), Virgin Media Holdings Inc., a Delaware corporation
(“Holdings”), Virgin Media (UK) Group, Inc., a Delaware corporation (“UK Holdco”), Virgin Media Communications Limited, a limited company organized under the laws of England and Wales
(“Communications”), Virgin Media Investment Holdings Limited, a limited company organized under the laws of England and Wales (“VMIH”), and Virgin Media Investments Limited, a limited company organized under the
laws of England and Wales (“VMIL”, and together with the Company, Holdings, UK Holdco, Communications and VMIL, the “Intermediate Guarantors”; the Intermediate Guarantors together with the Parent, the
“Senior Guarantors”), The Bank of New York Mellon, as trustee (the “Trustee”) and The Bank of New York Mellon (Luxembourg) S.A., hereby jointly and severally with each other Senior Guarantor irrevocably and
unconditionally guarantees to each Holder and to the Trustee and its successors and assigns (1) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all obligations of the Issuer
under the Indenture (including obligations to the Trustee) and the Notes, whether for payment of principal of or interest on or premium, if any, on the Notes and all other monetary obligations of the Issuer under the Indenture and the Notes and
(2) the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under the Indenture and the Notes (all the foregoing being hereinafter
collectively called the “Guaranteed Obligations”). Each Senior Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from such Note Guarantor, and
that such Note Guarantor shall remain bound under this Guarantee notwithstanding any extension or renewal of any Guaranteed Obligation. 
 The obligations of each Senior Guarantor to the Holders and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth in Article 11 of the Indenture, and reference is hereby made
to the Indenture for the precise terms and limitations of this Guarantee. Each Holder of the Note to which this Guarantee is endorsed, by accepting such Note, agrees to and shall be bound by such provisions. 

Each Senior Guarantee will be limited to an amount not to exceed the maximum amount that can be guaranteed by such Senior Guarantor
without rendering such Senior Guarantee voidable under applicable law relating to ultra vires, fraudulent conveyance, fraudulent transfer, corporate benefit or similar laws affecting the rights of creditors generally. 

[Signatures on following page] 

  
 C-1

 IN WITNESS WHEREOF, each Senior Guarantor has caused this Guarantee to be signed by a duly
authorized officer. 
  

			
	VIRGIN MEDIA INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VIRGIN MEDIA GROUP LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VIRGIN MEDIA HOLDINGS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VIRGIN MEDIA (UK) GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VIRGIN MEDIA COMMUNICATIONS LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 C-2Severance and Release Agreement

 Exhibit 10.19 
 FORM OF 
 SEVERANCE AND RELEASE AGREEMENT 

Stillwater National Bank and Jerry Lanier have reached the following Severance and Release Agreement (“Agreement”). In this
Agreement, “Former Employee” refers to Jerry Lanier; “Bank” refers to Stillwater National Bank, together with any parent or subsidiaries, related and affiliated entities, companies, and the employees, officers, trustees,
directors, agents, shareholders, successors, assigns, servants, third party administrators and insurers of any of them. 
 1. On
September 22, 2011, Former Employee was informed that the Bank has decided to change direction as it relates to the credit resolution functions. As part of this philosophical change in direction, the decision has been made that Former Employee
will no longer be employed by the Bank. In exchange for the Former Employee signing the Agreement, the Bank is offering Former Employee the chance to voluntarily resign and take early retirement in lieu of termination, and to receive the following
post-termination benefits: severance pay (gross) in the amount of Three Hundred Seven Thousand Five Hundred Dollars and 06/100 ($307,500.06) plus an additional amount of Nine Thousand Eighty Five Dollars and 32/100 ($9,085.32)
representing Former Employee’s medical and dental premiums for eighteen (18) months at current rates (and excluding the 2% COBRA premium which must be paid by Former Employee), and additional amounts of Thirteen Thousand Three
Hundred Twenty and No/100 ($13,320.00) and Four Thousand Severn Hundred Thirty Six Dollars and 52/100 ($4,736.52), representing current long-term care and long-term disability premiums respectively (although disability
insurance is not portable), less all applicable federal and state withholdings and other applicable deductions allowed by law (collectively the “Severance Payment”). In addition, title to the Bank-owned 2008 Acura automobile currently used
by Former Employee will be transferred to Former Employee. Therefore, in consideration for the execution by Former Employee of this Agreement and for the covenants and promises described below, the Bank will accept Former Employee’s voluntary
resignation and early retirement in lieu of termination (Former Employee will provide a written resignation letter within five (5) business days of the full execution of the Agreement which will subsequently be placed by Bank in Former
Employee’s personnel file), and Bank will provide Former Employee the Severance Payment. The Severance Payment shall be contingent upon the execution and non-revocation of this Agreement as described in paragraph 9 below. The Severance Payment
will be delivered to Former Employee no less than five (5) business days after the end of the revocation period described in paragraph 9. Former Employee acknowledges and understands that the Severance Payment does not entitle Former Employee
to any continued fringe benefits with the Bank that he would not otherwise be entitled to absent the execution of the Agreement. 

  
 1 

 2. Former Employee states that he has not previously filed or joined in any complaints,
petitions, charges or lawsuits against the Bank with any governmental agency or court of law. Former Employee agrees to and does release the Bank from all claims or demands Former Employee may have based on Former Employee’s employment with the
Bank or the termination of that employment. This includes a release of any rights or claims Former Employee may have under the Age Discrimination in Employment Act and the Older Workers Benefit Protection Act, which prohibit age discrimination in
employment; 42 U.S.C. § 1981, 1983 and 1985; Title VII of the Civil Rights Act of 1964 as amended, which prohibits discrimination in employment based on race, color, national origin, religion or sex; the Equal Pay Act, which prohibits paying
men and women unequal pay for equal work; the Americans with Disabilities Act, which prohibits discrimination against qualified individuals with a disability; the Fair Labor Standards Act, including the Wage and Hour Laws relating to payment of
wages; the Family and Medical Leave Act, which provides certain leave of absence benefits to employees; Employment Retirement Income Security Act, which protects certain employee benefits; Oklahoma’s Workers’ Compensation laws and
regulations preventing discharge in retaliation for exercising rights under Oklahoma’s Workers’ Compensation Act; or any other federal, state or local laws or regulations prohibiting employment discrimination, including qui tam
actions. This also includes a release by Former Employee of any claims for breach of contract, impairment of economic opportunities, intentional infliction of emotional distress, invasion of privacy, wrongful discharge, discharge in violation of
public policy, or that the Bank has dealt with Former Employee unfairly or in bad faith or any other common law contract or tort claim. This release covers both claims that Former Employee knows about and those he may not know about. Former Employee
also represents that he has not given or sold any portion of any claim discussed in this Agreement to anyone else. 
 3. Former
Employee promises never to file a lawsuit asserting any claims that are released in paragraph 2. The Bank promises to defend and indemnify Former Employee in connection with any claim asserted against Former Employee for actions taken in the scope
of his employment while he worked for Bank, except for any cause(s) of action based on allegations of gross negligence or criminal fraud by the Former Employee, in which case the Former Employee will not be provided a defense or indemnification by
the Bank for such claims. 
 4. If Former Employee breaks his promise in paragraph 3 of this Agreement and files a lawsuit based
on legal claims that Former Employee has released, Former Employee will pay for all costs incurred by the Bank, any related companies or the managers, directors or employees of any of them, including reasonable attorneys’ fees, in defending
against Former Employee’s claim(s). 
 5. Bank makes this Agreement to avoid the cost of defending against any possible
legal action. By making this Agreement, the Bank specifically contests and categorically denies that it has engaged in any wrongdoing of any kind whatsoever. 

  
 2 

 6. This Agreement does not waive any rights or claims that Former Employee may have which
arise after the date the Former Employee signs this Agreement. 
 7. Former Employee acknowledges that he received a copy of
this Agreement on September 22, 2011, and was offered a period of at least twenty-one (21) days to consider it. 
 8.
Former Employee is advised to consult with an attorney of his choice before signing this Agreement. Former Employee agrees that the Bank shall not be required to pay any of his attorney’s fees in this or any related matter or lawsuit, now or
later, and that the Severance Payment described in paragraph 1 is in full and complete settlement of all matters between Former Employee and Bank, including but not limited to, attorney’s fees and costs. 

9. Former Employee may revoke this Agreement within seven (7) days of his signing it. Revocation can be made by
delivering a written notice of revocation to DeAnn Koumbis, VP/Human Resources Director. For such revocation to be effective, notice must be received no later than 5:00 p.m. on the seventh (7th) calendar day after Former Employee signs this Agreement. If Former Employee revokes this Agreement it shall not
be effective or enforceable and Former Employee will not receive any of the benefits described in paragraph 1. 
 10. Former
Employee acknowledges that, if this Agreement becomes effective, he will not reapply for employment with the Bank. and Former Employee’s employment with the Bank will cease irrevocably and forever, and will not be resumed again at any time in
the future. 
 11. Former Employee understands that nothing in paragraphs 3, 4 and 15 or any other part of this Agreement shall
prohibit or restrict Former Employee from filing a claim or participating in a proceeding relating to a violation of any federal, state, or local law relating to fraud against shareholders or any rule of the Securities and Exchange Commission.

 12. Former Employee acknowledges that, in the course of his work as an Former Employee and officer of the Bank, he has had
and may have access to information concerning the Bank, its business and investments, its borrowers, accounting information, financial information, project information, vendor information, Bank strategies, expansion opportunities and strategies,
litigation strategies, litigation settlement strategies, labor negotiation strategies and tactics, trade secrets, methods of doing business and other technical information (collectively “Proprietary and/or Financial Information”), and that
the Bank has developed, compiled and otherwise obtained, often at great expense, this Proprietary and/or Financial Information, which has great value to the Bank’s business and could have

  
 3 

 
value to its competitors. This Proprietary and/or Financial Information may include prospective business opportunities which Former Employee had contact with on behalf of the Bank during his
employment (and therefore Former Employee has knowledge about these business opportunities that would create an unfair competitive advantage for Bank’s market competitors if the information was disclosed to them in violation of this Agreement).
Former Employee promises not to disclose any Proprietary and/or Financial Information regarding Bank’s prospective projects (including the any specific business opportunities that Former Employee pursued on behalf of Bank) for any reason
whatsoever to any person, entity, business, or other third party without the express prior written consent of the Bank (signed by the Chief Credit Officer or higher). Former Employee agrees to hold in strict confidence and not disclose any such
Proprietary and/or Financial Information, directly or indirectly, to anyone outside of the Bank or use, copy, publish, summarize such Proprietary and/or Financial Information for any purpose. In addition, Former Employee agrees not to remove such
Proprietary and/or Financial Information from the Bank’s premises. As part of this Agreement, Former Employee agrees that he will immediately return to the Bank the following original pieces (and all copies thereof) of Bank property: including
but not limited to computer, cell phone and all other Bank property in Former Employee’s possession, and Former Employee further promises not to make any copies of the same prior to the return of such property. After the return of the
aforementioned property, Former Employee represents and warrants that he has no such Proprietary and/or Financial Information physically in his possession or under his custody or control. As part of the consideration for and inducement to entering
this Agreement, the Bank is expressly relying on the foregoing warranty and representation of Former Employee. Former Employee’s execution of this Agreement confirms that he has not disclosed any Proprietary and/or Financial Information to any
third parties. Finally, Former Employee acknowledges, understands and agrees that he continues to be bound by the terms of the Confidentiality Agreement (attached as Exhibit “A” to the Agreement he signed on or about April 10, 2001,
which remains in full force and effect, the terms of which are supplemental to and in conjunction with those in the Agreement). 

13. For a period of Eighteen (18) months from the date of this Agreement, Former Employee shall not hire or attempt to hire any
employee of the Bank who was employed with the Bank at the time of Employee’s departure, or assist in such hiring by any other person or entity, or encourage any Former Employee to terminate his or her employment with the Bank. 

14. Former Employee agrees not to make any statements or otherwise engage in any communications (whether written or oral) that in any way
disparage or otherwise denigrate the Bank. 
 15. As an express condition of this Agreement, Former Employee agrees not to take
any action that is adverse to Bank, or any of its parents, subsidiaries or affiliates, either individually or in concert with others. 

  
 4 

 16. Former Employee agrees to keep the terms, amount and facts of this Agreement completely
confidential, and that he will not disclose any information concerning this agreement to anyone other than his immediate family and lawyer(s), who will be informed of and bound by this confidentiality clause. Former Employee, his family members,
financial advisors and lawyers shall respond to any inquiry about the status of the termination of his employment only by stating that “Former Employee resigned his employment from Bank,” (or words to that effect) unless required to say
more by a court or agency that has the power to require them to testify further. Former Employee realizes that revealing any other information by him or any of his family members or professional representatives would cause Bank injury and damage the
actual amount of which would be hard to determine, so Former Employee agrees to pay the Bank Ten Thousand Dollars and No/100 ($10,000.00) each time this happens, and also to pay all of the Bank’s attorneys’ fees and costs incurred in
getting a court order to stop him and/or to seek such damages. 
 17. This Agreement shall be governed and interpreted in
accordance with the laws of the State of Oklahoma. In the event litigation is instituted between the parties in connection with any controversy or dispute arising from, under or related to this Agreement, the judgment herein should include a
reasonable sum to be paid to the prevailing party on account of attorneys’ fees incurred in such litigation. 
 18. This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall together constitute one and the same instrument. 
 19. Bank and Former Employee desire that any dispute concerning this Agreement be handled out of court. Accordingly, they agree that any such dispute shall, as the parties’ sole and exclusive remedy,
be submitted to arbitration in Oklahoma County, Oklahoma, before an experienced employment arbitrator licensed to practice law in Oklahoma and selected in accordance with the standard rules of the American Arbitration Association (AAA). (Former
Employee understands that he may obtain a copy of such rules by calling the AAA, located in Washington, D.C., directly if Former Employee’s lawyers do not have copies available.) The laws of the State of Oklahoma shall govern interpretation of
this Agreement. Should Former Employee or Bank start any legal action or administrative proceeding against the other with respect to any claim waived by this Agreement, or pursue any method of resolution of a dispute other than mutual agreement of
the parties or arbitration, then all damages, costs, expenses and attorneys’ fees incurred by the other party as a result shall be the responsibility of the one bringing the suit or starting the procedure. 

20. This is the whole Agreement between Former Employee and Bank. No promises oral or written statement upon which Former Employee has
been told to rely have been made to him other than those in this Agreement. If any portion of this Agreement is found to be unenforceable, then both Former Employee and the Bank 

  
 5 

 
desire that all other portions that can be separated from it or appropriately limited in scope shall remain fully valid and enforceable. Each party also agrees that, without receiving further
consideration, it will sign and deliver such documents and do anything else that is necessary in the future to make the provisions of this Agreement effective. 
 FORMER EMPLOYEE ACKNOWLEDGES THAT HE HAS READ THIS AGREEMENT, UNDERSTANDS IT AND IS VOLUNTARILY ENTERING INTO IT. 
 PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE BY FORMER EMPLOYEE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  

							
				
	
                         
       
 Date
	 		 		 	  
 JERRY
LANIER

				
	
                         
       
 Date
	 		 		 	  
 Witness

				
	
                        
        
 Date
	 		 		 	  
 JERRY
LANIER

		 		 		 	(signed after 7 day revocation period)
				
	
                         
       
 Date
	 		 		 	  
 Witness

				
	
                         
       
 Date
	 		 		 	  
 DeAnn
Koumbis

		 		 		 	Vice President, Human Resources Director
		 		 		 	Stillwater National Bank
				
	
                         
       
 Date
	 		 		 	  
 Witness

  
 6

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