Document:

Transfer Agreement

 Exhibit 10.36 
  
 ______ ______ 2004 
  
 TELEWEST COMMUNICATIONS PLC 
  
 TELEWEST GLOBAL, INC. 
  
 TELEWEST UK LIMITED 
  

  
 TRANSFER AGREEMENT 
  

  

 Page 1 

 CONTENTS 
  

					
	 CLAUSE

	  	PAGE

			
	 1.
	  	 DEFINITIONS
	  	2
			
	 2.
	  	 AGREEMENT TO TRANSFER AND PRICE
	  	2
			
	 3.
	  	 CONDITIONS PRECEDENT
	  	2
			
	 4.
	  	 COMPLETION
	  	3
			
	 5.
	  	 TITLE AND SUPPLEMENTARY PROVISIONS
	  	3
			
	 6.
	  	 TRADE MARKS, DOMAIN NAMES, GOODWILL AND BUSINESS IPR
	  	4
			
	 7.
	  	 INTRA-GROUP LOANS AND TCN RECEIVABLE
	  	5
			
	 8.
	  	 EXPENSES FUND
	  	5
			
	 9.
	  	 INDEMNITY FOR VENDOR
	  	7
			
	 10.
	  	 INDEMNITY FOR TELEWEST JERSEY
	  	8
			
	 11.
	  	 PROPERTIES AND GUARANTEES
	  	10
			
	 12.
	  	 TRANSFER TAXES
	  	10
			
	 13.
	  	 VAT
	  	10
			
	 14.
	  	 TAX CONDUCT
	  	10
			
	 15.
	  	 WITHHOLDING TAX AND GROSSING UP
	  	12
			
	 16.
	  	 US TAX
	  	12
			
	 17.
	  	 ENTIRE AGREEMENT
	  	12
			
	 18.
	  	 NOTICES
	  	13
			
	 19.
	  	 WAIVERS
	  	15
			
	 20.
	  	 COUNTERPARTS
	  	15
			
	 21.
	  	 FURTHER ASSURANCE
	  	15
			
	 22.
	  	 SEVERABILITY
	  	16
			
	 23.
	  	 ASSIGNMENT
	  	16
			
	 24.
	  	 RIGHTS UNDER CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999
	  	16
			
	 25.
	  	 VARIATION
	  	17
			
	 26.
	  	 JURISDICTION
	  	17
			
	 27.
	  	 GOVERNING LAW
	  	18
		
	 SCHEDULE 1 DEFINITIONS
	  	19
		
	 SCHEDULE 2 SUBSIDIARIES
	  	26

  

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	 SCHEDULE 3
	  	27
	 PART A DETAILS OF LEASEHOLD PROPERTY
	  	27
	 PART B DETAILS OF GUARANTEES
	  	28
	PART C ASSIGNMENT OF LEASEHOLD PROPERTY AND SUBSTITUTION OF TCN
OR TELEWEST LIMITED FOR THE VENDOR IN RELATION TO THE GUARANTEES	  	29
	 SCHEDULE 4 EXCLUDED ASSETS
	  	40
		
	 SCHEDULE 5 REGISTERED RIGHTS
	  	41
		
	 PART A
	  	41
		
	 PART B
	  	44
		
	 SCHEDULE 6 LIST OF ADVISERS
	  	45
		
	 SCHEDULE 7 APPORTIONMENT
	  	46
		
	 SCHEDULE 8 CONTRACTS TO BE NOVATED
	  	47
		
	 PART A
	  	47
		
	 PART B
	  	48
		
	 SCHEDULE 9 EXCLUDED LIABILITIES
	  	49
		
	 SCHEDULE 10 INTRA-GROUP LOANS
	  	50

  

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 THIS AGREEMENT is made on             
             2004 
  
 BETWEEN 
  

	(1)	TELEWEST COMMUNICATIONS PLC whose registered office is at Export House, Cawsey Way, Woking, Surrey GU21 6QX (the Vendor); 

  

	(2)	TELEWEST GLOBAL, INC., a corporation organized under the laws of the State of Delaware, the address of whose office is c/o CT Corporation System, 1209 Orange Street,
Wilmington, Delaware 19801, United States of America (New Telewest); and 

  

	(3)	TELEWEST UK LIMITED whose registered office is at Export House, Cawsey Way, Woking, Surrey GU21 6QX (Telewest UK). 

  
 WHEREAS 
  
 (A) It is intended to implement a restructuring of the Vendor and Telewest Jersey (the Financial Restructuring) comprising,
among other things, the following steps: 
  

	(a)	the Vendor will transfer the Business (as defined below) to Telewest UK, subject, for the avoidance of doubt, to the interests of and encumbrances created in favour of the
Beneficiaries under the Security Documents; 

  

	(b)	the Vendor will enter into a creditors’ scheme of arrangement pursuant to section 425 of the Act (the Scheme); 

  

	(c)	Telewest Jersey will enter into creditors’ schemes of arrangement pursuant to section 425 of the Act and article 125 of the Jersey Act (the Jersey Scheme);

  

	(d)	pursuant to the Scheme all Scheme Claims will be discharged and fully paid and non-assessable shares of the common stock, par value $0.01 per share, of New Telewest will be
distributed to Scheme Creditors; and 

  

	(e)	both the Vendor and Telewest Jersey intend to go into solvent liquidation. 

  
 (B) Telewest Jersey as at the date of this Agreement is a wholly-owned subsidiary of the Vendor. 
  
 (C) New Telewest as at the date of this Agreement is a wholly-owned subsidiary of the Vendor. 
  
 (D) Telewest UK as at the date of this Agreement is a wholly-owned subsidiary of New
Telewest. 
  
 (E) The Vendor has agreed to transfer and Telewest UK has agreed to
acquire the Business for the consideration and upon the terms and conditions set out in this Agreement. 
  

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 IT IS HEREBY AGREED AS
FOLLOWS: 
  

	1.	DEFINITIONS 

  
 1.1 Words and expressions used in this Agreement shall have the meanings set out in Schedule 1, unless the context requires otherwise. 
  
 1.2 The headings in this Agreement shall not affect its interpretation. 
  
 1.3 The Schedules comprise schedules to this Agreement and form part of this Agreement.

  

	2.	AGREEMENT TO TRANSFER AND PRICE 

  
 2.1 The Vendor shall transfer the Business, and Telewest UK shall acquire and take over the
Business, as a going concern with effect from the Completion Date. 
  
 2.2 In
consideration of the Vendor fulfilling its obligations under clauses 2.1 and 6, Telewest UK, as acquiror, shall at Completion: 
  

	(a)	assume responsibility for the satisfaction (and, as may be necessary, payment and discharge) of all the Liabilities; and 

  

	(b)	allot and issue to New Telewest 99 shares of £1 each in the capital of Telewest UK credited as fully paid-up, 

  
 and New Telewest shall issue to the Escrow Agent 245,000,000 (or such other number as New
Telewest shall agree with the Vendor in advance of the Completion Date) fully paid and non-assessable shares of common stock, par value $0.01 per share, of New Telewest, such issue to be conditional on the occurrence of the Effective Date.

  
 2.3 The consideration referred to in clause 2.2 shall be apportioned between
the Business Assets, the Trade Marks, the Domain Names, the Goodwill and the Business IPR as set out in Schedule 7. 
  
 2.4 Each party hereby agrees that, notwithstanding the transfer envisaged in this clause 2, the Business Assets shall be transferred subject to the security described in
the Security Documents and there shall be no release of the Business Assets from all or any part of that security. 
  

	3.	CONDITIONS PRECEDENT 

  
 3.1 Completion shall be conditional upon: 
  

	(a)	the Vendor notifying New Telewest and Telewest UK that the Vendor expects to satisfy all of the conditions to delivering an office copy of the Order to the Registrar of Companies
within two Business Days of such notification; and 

  

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	(b)	the Senior Lenders having granted any and all consents and waivers required under the Senior Secured Credit Facility Agreement and the related security documentation for the Vendor
to transfer the Business under this Agreement. 

  
 3.2 If the
Conditions Precedent have not been satisfied by the later of (i) the date that is 90 days after the date of the Commitment Letter; or (ii) the date that is 60 days after the date of any vote by creditors to approve the Scheme and the Jersey Scheme,
subject to such vote occurring on or before the date that is 75 days after the date of the Commitment Letter (or such later date as the parties may agree), this Agreement shall automatically terminate and no party shall have any claim of any nature
whatsoever against any other party under or in respect of this Agreement. 
  

	4.	COMPLETION 

  
 4.1 Completion shall take place immediately following the fulfilment of the Conditions Precedent upon which the events set out in clauses 4.2 and 4.3 shall take place.

  
 4.2 On Completion, the Vendor shall cause to be delivered or made available to
Telewest UK or held to Telewest UK’s order save to the extent such documents are not already held by the Security Trustee pursuant to the terms of the Security Documents: 
  

	(a)	such documents as Telewest UK may require to complete the sale and purchase of the Business Assets (including, but not limited to, the Vendor’s interest in the Leasehold
Property and the Subsidiaries); and 

  

	(b)	such of the Business Assets as are tangible. 

  
 4.3 On Completion, Telewest UK shall allot and issue to New Telewest, credited as fully paid-up, 99 shares of £1 each in the capital of Telewest UK and deliver to
New Telewest a share certificate in respect thereof. 
  
 4.4 Conditional on, and
immediately upon, the occurrence of the Effective Date, New Telewest shall issue to the Escrow Agent 245,000,000 (or such other number as New Telewest shall agree with the Vendor in advance of the Completion Date) fully paid and non-assessable
shares of the common stock, par value $0.01 per share, of New Telewest to be held pursuant to the terms of the Escrow Agent Agreement for the benefit of the Vendor’s shareholders and the Scheme Creditors pursuant to the Scheme. 
  
 4.5 If and to the extent that any documents of transfer are not available at Completion, the
parties shall arrange for appropriate transfer documents to be prepared and completed as soon as practicable after Completion. 
  

	5.	TITLE AND SUPPLEMENTARY PROVISIONS 

  
 5.1 Subject to clause 5.2 below, beneficial ownership and risk in respect of the Business Assets shall pass to Telewest UK on Completion.
Title to all Business Assets which can be transferred by delivery shall pass on delivery and such delivery 

  

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shall be deemed to take place at the Vendor’s registered office (or at such other place as the parties may agree) on Completion. 
  
 5.2 Insofar as the Business Assets comprise the benefit of Claims and the benefit (subject to
the burden) of Contracts which cannot effectively be assigned or transferred by the Vendor to Telewest UK (or its nominee) except by agreements of novation or without obtaining a consent, an approval, a waiver or the like from a third party
(Consents) including, without limitation, the Contracts listed in Part B of Schedule 8: 
  

	(a)	the Vendor shall take all reasonable steps to procure that such Contracts are novated or such Claims are assigned to Telewest UK, TCN or Telewest Limited (as the case may be) as and
to the extent identified in Part B of Schedule 8 or that the necessary Consents are obtained and Telewest UK shall, and shall procure that TCN and Telewest Limited shall, co-operate with the Vendor for such purpose; 

  

	(b)	unless or until each of such Contracts or Claims shall have been so novated or assigned or any necessary Consent obtained, the Vendor shall from the Completion Date receive and hold
the benefit of the relevant Contract or Claim as trustee on trust for Telewest UK, TCN or Telewest Limited (as the case may be) and shall pay to Telewest UK, TCN or Telewest Limited (as the case may be) (as directed by Telewest UK) promptly upon
receipt any sums received by it under any such Contract or pursuant to any such Claim; and 

  

	(c)	Telewest UK shall (at Telewest UK’s cost), and shall procure that TCN and Telewest Limited shall (at the cost of TCN or, as applicable, Telewest Limited), from the Completion
Date assist the Vendor to perform all the obligations of the Vendor under any such Contracts which are to be transferred to each of them as and to the extent identified in Part B of Schedule 8. 

  
 If any necessary Consent is not obtained within 3 months after the Completion Date or is
refused and the procedure set out in this clause 5.2 does not enable the full benefit of any Contract to be enjoyed by Telewest UK, TCN or Telewest Limited (as the case may be) after Completion, the Vendor and Telewest UK shall use all reasonable
endeavours to achieve an alternative solution pursuant to which (i) Telewest UK, TCN or Telewest Limited (as the case may be) shall receive the full benefit of that Contract and assume the associated obligations; and (ii) the Vendor is released from
such associated obligations. 
  

	6.	TRADE MARKS, DOMAIN NAMES, GOODWILL AND BUSINESS IPR

  
 6.1 The Vendor shall assign to TCN with full title
guarantee absolutely, with effect from the Completion Date, subject only to the terms and conditions of any licences granted to third parties and otherwise free of all charges, liens, options, licences and encumbrances, all of its rights, title and
interest in and to the Trade Marks, the Domain Names and the Business IPR, including: 
  

	(a)	all statutory and common law rights attaching to the Trade Marks, together with the Goodwill; and 

  

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	(b)	the right to sue (and to retain damages recovered) in respect of any infringement or unauthorised use of any of the Trade Marks which may have occurred before the Completion Date.

  
 6.2 The Vendor agrees to perform (or procure the performance of)
all acts and things, and to make any filings and to give any notifications (or procure the making of any filings or giving of any notifications), and to execute and deliver (or procure the execution and delivery of) any documents required to effect
the assignment to TCN of the Trade Marks and of all the rights of the Vendor to the Domain Names and the Business IPR (including, for the avoidance of doubt, an assignment agreement substantially in the form as set out in Schedule 13). 

 

	7.	INTRA-GROUP LOANS AND TCN RECEIVABLE 

  
 7.1 The Vendor and Telewest UK shall, and the Vendor shall procure that Flextech Limited,
Fleximedia Limited, Telewest Communications Holdco Limited and Yorkshire Cable Communications Limited respectively shall, enter into novation agreements substantially in the form as set out in Schedule 11 to novate each of the Intra-group Loans to
Telewest UK with effect from the Completion Date. 
  
 7.2 Immediately following
Completion the Vendor shall serve a notice of assignment substantially in the form as set out in Schedule 12 on TCN notifying TCN of the assignment of the TCN Receivable to Telewest UK. 
  

	8.	EXPENSES FUND 

  
 8.1 The Vendor, New Telewest and Telewest UK hereby agree that the Vendor shall as at the Completion Date retain any cash held by the Vendor immediately prior to
Completion as the Expenses Fund to be held on the terms set out in the remainder of this clause 8. 
  
 8.2 The Vendor hereby declares that as from the Completion Date it shall hold the Expenses Fund and all moneys from time to time credited to the Designated Account in respect of the Expenses Fund (including any
interest which accrues on the Expenses Fund and, for the avoidance of doubt, any amounts received by the Vendor at any time after the Completion Date including, without limitation, in respect of repayments of taxes or in respect of any Debtors but
excluding, for the avoidance of doubt, any amounts received by the Vendor in respect of a Contract or Claim the benefit of which the Vendor holds on trust for Telewest UK, TCN or Telewest Limited pursuant to clause 5.2(b)) upon trust for Telewest UK
absolutely on, and subject to, the terms of this clause 8 and for no other purpose whatsoever. 
  
 8.3 Telewest UK hereby irrevocably directs the Vendor, and the Vendor hereby acknowledges such direction, to apply the Expenses Fund held by it pursuant to clause 8.2 above as follows: 
  

	(a)	 to pay on demand such sums as the Vendor Liquidators may from time to time require in respect or on account of their remuneration, expenses and disbursements
(together, in each case, with any VAT thereon) properly incurred in contemplation of, or in relation to, the winding up of the Vendor, 

  

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subject only to the presentation to Telewest UK of the Vendor Liquidators’ invoices (provided that such invoices are rendered in accordance with any
resolution passed by the shareholders of the Vendor in respect of the Vendor Liquidators’ remuneration in accordance with Rule 4.148A of the Insolvency Rules 1986); 

  

	(b)	to pay on demand such sums as the Telewest Jersey Liquidators may from time to time require in respect or on account of their remuneration, expenses and disbursements (together, in
each case, with any VAT or other applicable sales tax thereon) properly incurred in contemplation of, or in relation to, the winding up of Telewest Jersey, subject only to the presentation to Telewest UK of the Telewest Jersey Liquidators’
invoices (provided that such invoices are rendered in accordance with any resolution passed by the shareholders of Telewest Jersey in respect of the Telewest Jersey Liquidators’ remuneration in accordance with Article 153 of the Jersey Act);

  

	(c)	to pay on demand such sums as the Creditor Beneficiaries may from time to time require in respect of any costs and expenses owed to such persons by the Vendor or Telewest Jersey (or
TCN or Telewest Limited to the extent that any relevant contract with any of the professional advisers or other persons listed in Schedule 6 is either with or has been novated to either of them) subject only to the presentation to Telewest UK and
the Vendor or Telewest Jersey (as the case may be) of invoices (provided that such invoices are accompanied by evidence reasonably satisfactory to Telewest UK and the Vendor or Telewest Jersey (as the case may be) that any such costs and expenses
are reasonable and have been properly incurred by the relevant Creditor Beneficiary submitting the invoice and that the Vendor, Telewest Jersey, TCN or Telewest Limited is liable to pay such costs and expenses); 

  

	(d)	to pay on demand any such other sum as any other creditor (including, for the avoidance of doubt, in respect of any taxation claims) of the Vendor or, as applicable, Telewest Jersey
(excluding, for the avoidance of doubt, any Scheme Claim) may from time to time claim from the Vendor or, as applicable, Telewest Jersey, but only to the extent such claims have either been agreed or settled by the Vendor and/or the Vendor
Liquidators or, as applicable, Telewest Jersey and/or the Telewest Jersey Liquidators or have been finally determined by a court of competent jurisdiction; and 

  

	(e)	to pay any amounts remaining in the Designated Account in respect of the Expenses Fund (together with any interest accrued thereon) to Telewest UK or to such persons as Telewest UK
may direct on either: (i) if liquidators have been appointed within 12 months of the Effective Date, the Business Day immediately preceding the date on which the Liquidators intend to file their final return; or (ii) if liquidators have been
appointed within 12 months of the Effective Date, the date that is 12 months after the Effective Date. 

  
 8.4 Telewest UK hereby authorises the Vendor to invest the Expenses Fund in such interest bearing account as the Vendor, in its sole discretion, may deem appropriate
provided that the Expenses Fund shall be available to pay the sums directed to be paid under clause 8.3(a) to (d) above. 
  

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 8.5 For the term of the Senior Secured Credit Facility Agreement and the Proposed Amended Senior Secured Credit Facility
Agreement, Telewest UK shall promptly notify the Agent in writing of the receipt and the amount of any invoice presented to it under clause 8.3(a) to (d) above. 
  

8.6 For the avoidance of doubt, Telewest UK will be paid, and the Vendor undertakes to pay, a distribution of any amounts remaining in the Designated Account in
accordance with clause 8.3(e) above only after payment has been made in respect of all sums directed to be paid under clause 8.3(a) to (d) above. 
  
 8.7 Telewest UK irrevocably directs and the Vendor hereby acknowledges and agrees that the Vendor shall close the Designated Account after the distribution of any amounts
remaining in the Designated Account pursuant to clause 8.3(e). 
  

	9.	INDEMNITY FOR VENDOR 

  
 9.1 In consideration of the Vendor entering into this Agreement, Telewest UK agrees, subject to the occurrence of the Effective Date, to indemnify and keep indemnified
(to the fullest extent permitted by law) the Vendor from and against any and all Indemnified Liabilities (excluding, for the avoidance of doubt, any (i) Scheme Claims; (ii) Vendor Shareholder and Bondholder Reorganisation Expenses; and (iii) any
other Indemnified Liabilities to the extent paid pursuant to clause 8.3(c) and (d) above), whenever the same may arise or occur, including all claims in respect of Indemnified Liabilities properly admitted for proof in the winding-up of the Vendor
(and any interest payable thereon) and the costs and expenses of the winding-up of the Vendor save to the extent paid pursuant to clause 8.3(a). 
  
 9.2 For the avoidance of doubt, any payments to be made pursuant to the indemnity in clause 9.1 shall be made by Telewest UK directly to the Vendor Liquidators or any
creditor, as applicable. For the avoidance of doubt, no payment made by Telewest UK to the Vendor Liquidators pursuant to the indemnity in clause 9.1 (if any) shall be made to the Designated Account. 
  
 9.3 This indemnity shall apply whether or not the winding-up of the Vendor and/or the
appointment of the Vendor Liquidators is valid and/or effective. 
  
 9.4 Telewest
UK shall have no right of recourse against the Vendor for any amounts paid by Telewest UK under the indemnity in clause 9.1 to any person and Telewest UK waives any rights of recourse against the Vendor under that indemnity. 
  
 9.5 The Vendor or the Vendor Liquidators (so far as it is not inconsistent with the
performance of the Vendor Liquidators’ duties under the Insolvency Legislation) shall as soon as reasonably practicable give notice to Telewest UK of any proof of debt or claim received by the Vendor or the Vendor Liquidators. Within seven days
of Telewest UK receiving such notice of the proof of debt or claim, Telewest UK shall inform the Vendor or the Vendor Liquidators if, in its opinion, Telewest UK believes that the amount of the claim the subject of the proof of debt or claim ought
to be disputed. Without prejudice to their powers and duties under the Insolvency Legislation, the Vendor Liquidators shall consider Telewest UK’s opinion and may, if they consider appropriate in view of the powers, duties and discretions given
to them 

  

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under the Insolvency Legislation, require the creditor who has submitted the proof of debt or claim to produce further evidence or may, in their sole
discretion, reject the proof of debt or claim and defend any appeal instigated by the creditor. Without prejudice to the provisions of clause 8, Telewest UK undertakes to be responsible for the costs of the Vendor and the Vendor Liquidators in
considering Telewest UK’s opinion in the admission or rejection of such proof of debt or claim and any subsequent appeals in relation to the rejection of such proof of debt or claim. For the avoidance of doubt, any payments made pursuant to the
preceding sentence shall be made by Telewest UK directly to the Vendor Liquidators. For the avoidance of doubt, upon an order relating to Indemnified Liabilities being made in respect of any appeal, Telewest UK shall upon any demand pay in full such
sum that is ordered to be paid in the winding-up of the Vendor or by the Vendor Liquidators and any interest thereon (directly to the Vendor Liquidators or any creditor, as applicable). 
  
 9.6 For the term of the Senior Secured Credit Facility Agreement and the Proposed Amended Senior Secured Credit Facility Agreement, Telewest
UK shall, as soon as reasonably practicable, notify the Agent of any proof of debt or claim being rejected and keep the Agent informed of the status and result of any appeal under clause 9.5. 
  
 9.7 For the avoidance of doubt, any failure or refusal by the Vendor or the Vendor
Liquidators to comply with the provisions of clause 9.5 shall not invalidate the indemnity in clause 9.1 or enable Telewest UK to refuse to meet its obligations under that indemnity. 
  
 9.8 All payments to be made by Telewest UK under the indemnity in clause 9.1 shall be made in full without any set off, deduction,
withholding, counter claim or similar. 
  

	10.	INDEMNITY FOR TELEWEST JERSEY 

  
 10.1 Telewest UK, subject to the occurrence of the Effective Date, further agrees to indemnify and keep indemnified (to the fullest extent
permitted by law) Telewest Jersey from and against any and all Indemnified Liabilities (excluding, for the avoidance of doubt, any (i) Scheme Claims; (ii) Vendor Shareholder and Bondholder Reorganisation Expenses; and (iii) any other Indemnified
Liabilities to the extent paid pursuant to clause 8.3(c) and (d) above), whenever the same may arise or occur, including all claims in respect of Indemnified Liabilities properly admitted for proof in the winding-up of Telewest Jersey (and any
interest payable thereon) and the costs and expenses of the winding-up of Telewest Jersey save to the extent paid pursuant to clause 8.3(b). 
  
 10.2 For the avoidance of doubt, any payments to be made pursuant to the indemnity in clause 10.1 shall be made by Telewest UK directly to the Telewest Jersey Liquidators
or any creditor, as applicable. For the avoidance of doubt, no payment made by Telewest UK to the Telewest Jersey Liquidators pursuant to the indemnity in clause 10.1 (if any) shall be made to the Designated Account. 
  
 10.3 This indemnity shall apply whether or not the winding-up of Telewest Jersey and/or the
appointment of the Telewest Jersey Liquidators is valid and/or effective. 
  

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 10.4 Telewest UK shall have no right of recourse against Telewest Jersey for any amounts paid by Telewest UK under the
indemnity in clause 10.1 to any person and Telewest UK waives any rights of recourse against Telewest Jersey under that indemnity. 
  
 10.5 Telewest Jersey or the Telewest Jersey Liquidators (so far as it is not inconsistent with the performance of the Telewest Jersey Liquidators’ duties under the
Insolvency Legislation) shall as soon as reasonably practicable give notice to Telewest UK of any proof of debt or claim received by Telewest Jersey or the Telewest Jersey Liquidators. Within seven days of Telewest UK receiving such notice of the
proof of debt or claim, Telewest UK shall inform Telewest Jersey or the Telewest Jersey Liquidators if, in its opinion, Telewest UK believes that the amount of the claim the subject of the proof of debt or claim ought to be disputed. Without
prejudice to their powers and duties under the Insolvency Legislation, the Telewest Jersey Liquidators shall consider Telewest UK’s opinion and may, if they consider appropriate in view of the powers, duties and discretions given to them under
the Insolvency Legislation, require the creditor who has submitted the proof of debt or claim to produce further evidence or may, in their sole discretion, reject the proof of debt or claim and defend any appeal instigated by the creditor. Without
prejudice to the provisions of clause 8, Telewest UK undertakes to be responsible for the costs of Telewest Jersey and the Telewest Jersey Liquidators in considering Telewest UK’s opinion in the admission or rejection of such proof of debt or
claim and any subsequent appeals in relation to the rejection of such proof of debt or claim. For the avoidance of doubt, any payments made pursuant to the preceding sentence shall be made by Telewest UK directly to the Telewest Jersey Liquidators.
For the avoidance of doubt, upon an order relating to Indemnified Liabilities being made in respect of any appeal, Telewest UK shall upon demand pay in full such sum that is ordered to be paid in the winding-up of Telewest Jersey or by the Telewest
Jersey Liquidators and any interest thereon (directly to the Telewest Jersey Liquidators or any creditor, as applicable). 
  
 10.6 For the term of the Senior Secured Credit Facility Agreement and the Proposed Amended Senior Secured Credit Facility Agreement, Telewest UK shall, as soon as
reasonably practicable, notify the Agent of any proof of debt or claim being rejected and keep the Agent informed of the status and result of any appeal under clause 10.5. 
  
 10.7 For the avoidance of doubt, any failure or refusal by Telewest Jersey or the Telewest Jersey Liquidators to comply with the provisions
of clause 10.5 shall not invalidate the indemnity in clause 10.1 or enable Telewest UK to refuse to meet its obligations under that indemnity. 
  
 10.8 All payments to be made by Telewest UK under the indemnity in clause 10.1 shall be made in full without any set off, deduction, withholding, counter claim or
similar. 
  

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	11.	PROPERTIES AND GUARANTEES 

  

Part C of Schedule 3 shall apply to the assignment of the Leasehold Property and to the substitution of TCN or Telewest Limited (as the case may be) for the Vendor in
relation to the Guarantees. 
  

	12.	TRANSFER TAXES 

  
 Telewest UK shall discharge all UK transfer, documentary and registration duties and taxes (including, for the avoidance of doubt, stamp duty, stamp duty land tax and
stamp duty reserve tax) and all US transfer, documentary and registration duties or taxes, if any, which arise or become payable in connection with the transfer of the Business (and the Trade Marks, the Domain Names, the Goodwill and the Business
IPR) pursuant to this Agreement. For the avoidance of doubt, in no event shall Telewest UK be liable to discharge any Vendor Shareholder and Bondholder Reorganisation Expenses pursuant to this clause 12. 
  

	13.	VAT 

  
 13.1 In the event that VAT is chargeable on any of the assets transferred pursuant to this Agreement, the Vendor shall issue a VAT invoice to Telewest UK in respect of such asset(s). Telewest UK shall pay to H.M.
Customs & Excise on account of the Vendor’s liability to pay and account for output tax an amount equal to any VAT due under such invoice in cleared funds on or before the date on which the Vendor is required to account for the VAT as
output tax to H.M. Customs & Excise provided that, if the Vendor issues the VAT invoice more than a month after the end of the VAT quarter in which the transfer of the relevant asset(s) occurred, Telewest UK shall pay to H.M. Customs &
Excise on account of the Vendor’s liability to pay and account for output tax an amount equal to any VAT due within two Business Days of the date on which the invoice is issued. 
  
 13.2 The Vendor shall be entitled prior to Completion to elect in accordance with paragraph 2 of Schedule 10 to the Value Added Tax Act 1994
to waive the exemption from VAT in respect of the Leasehold Property. In the event that the Vendor intends to make such an election, it will notify Telewest UK of such an intention. 
  

	14.	TAX CONDUCT 

  
 14.1 With a view to (a) minimising any liability of the Vendor to make or suffer an actual payment of tax and (b) subject to (a), preserving so far as possible tax
reliefs available as at the Effective Date for use by members of the New Telewest Group and in the future, the parties hereby agree as follows. 
  
 Section 179A elections 
  

	14.2	If, but for any election made pursuant to this clause 14.2: 

  

	(a)	the transactions contemplated by this Agreement would result in chargeable gains accruing to members of the New Telewest Group pursuant to section 179 of the TCGA; and

  

 Page 10 

	(b)	the Vendor would as at the Effective Date have allowable losses available to it which losses are not required to eliminate or reduce chargeable gains accruing to the Vendor,

  
 the Vendor shall, and New Telewest shall procure that the
relevant members of the New Telewest Group shall, enter into such joint elections under section 179A of the TCGA as may be necessary to ensure that chargeable gains equal to the lower of (X) the amount of chargeable gains referred to in
sub-paragraph (a) above and (Y) the amount of excess allowable losses referred to in sub-paragraph (b) above are treated as accruing not to the relevant members of the New Telewest Group but to the Vendor. 
  

	14.3	If, but for any election made pursuant to this clause 14.3: 

  

	(a)	the transactions contemplated by this Agreement would result in allowable losses accruing to members of the New Telewest Group pursuant to section 179 of the TCGA; and

  

	(b)	there would be insufficient allowable losses available to the Vendor as at the Effective Date to eliminate any chargeable gains that have accrued to it (such chargeable gains being,
as reduced by any such allowable losses as are available, the Vendor’s net chargeable gains), 

  
 the Vendor shall, and New Telewest shall procure that the relevant members of the New Telewest Group shall, enter into such joint elections under section 179A of the TCGA
as may be necessary to ensure that allowable losses equal to the lower of (X) the amount of allowable losses referred to in sub-paragraph (a) above and (Y) the Vendor’s net chargeable gains are treated as accruing not to the relevant members of
the New Telewest Group but to the Vendor. 
  
 Group relief 
  
 14.4 New Telewest shall procure that each member of the New Telewest Group shall, in respect
of the accounting period in which the Effective Date occurs and any prior accounting period, make, give or enter into such claims, elections, surrenders, notices or consents (whether unconditional or conditional, whether or not forming part of any
other return or tax document, whether provisional or final, and including amendments to or withdrawals of earlier claims, elections, surrenders, notices or consents) as the Vendor shall validly direct in connection with the surrender of losses or
other amounts eligible for surrender by way of group relief (within the meaning of Chapter IV of Part X of ICTA). 
  
 14.5 For the avoidance of doubt, New Telewest’s obligations under clause 14.4 shall include an obligation to procure that each member of the New Telewest Group
claims to the extent required by the Vendor (for the purposes of increasing the amounts eligible for surrender by any such member of the New Telewest Group by way of group relief) any capital allowances to which it is entitled in accordance with the
Capital Allowances Act 2001. 
  

 Page 11 

 No payment 
  
 14.6 No payment shall be made in connection with any election made in accordance with clauses 14.2 or 14.3 or in connection with the surrender of group relief as
contemplated by clause 14.4. 
  

	15.	WITHHOLDING TAX AND GROSSING UP 

  
 15.1 Telewest UK shall pay all sums payable by it under clauses 9 and 10 free and clear of
all deductions or withholdings for or on account of tax unless the deduction or withholding is required by law. If a deduction or withholding is so required, Telewest UK shall pay such additional amount as will ensure that the net amount received by
the payee equals the full amount which would have been received by it had no such deduction or withholding been required. 
  
 15.2 If the party receiving an additional amount pursuant to clause 15.1 receives a credit for or refund of any tax payable by it or similar benefit by reason of the
deduction or withholding giving rise to the payment of the additional amount, it shall reimburse to Telewest UK such proportion of the additional amount as it shall reasonably determine leaves it in no better or worse a position than it would have
been in if the relevant deduction or withholding had not been required. 
  
 15.3
If any tax authority brings into charge to tax any sum paid by Telewest UK under clauses 9 or 10, then Telewest UK shall pay such additional amount as shall be required to ensure that the total amount paid, less the tax chargeable on such amount, is
equal to the amount that would otherwise be payable under clauses 9 or 10. 
  

	16.	US TAX 

  
 16.1 The parties intend the Transaction to constitute steps in a single plan of reorganisation of the Vendor and Telewest Jersey qualifying as a
“reorganisation” within the meaning of section 368(a)(1)(C) of the US Internal Revenue Code of 1986, as amended. 
  
 16.2 The Vendor shall take no action that would cause Telewest Jersey, TCN or Telewest Limited to be regarded as a corporation or other business entity for US federal
income tax purposes. 
  
 16.3 Each of New Telewest and Telewest UK shall take no
action that would cause New Telewest or Telewest UK to be regarded other than as a corporation for US federal income tax purposes. 
  
 16.4 Each of New Telewest and Telewest UK shall take no action that would cause Telewest UK to be regarded other than as resident in the UK for tax purposes. 

 

	17.	ENTIRE AGREEMENT 

  
 This Agreement sets out the entire agreement and understanding between the parties in respect of the sale and purchase of the Business (and the Trade Marks, the Domain
Names, the Goodwill and the Business IPR). It is agreed that: 
  

	(a)	no party has entered into this Agreement in reliance upon any representation, warranty or undertaking of any other party which is not expressly set out or referred to in this
Agreement; 

  

 Page 12 

	(b)	all terms and conditions which are implied under the Sale of Goods Act in a contract of sale of goods to which that Act applies are expressly excluded from the sale and purchase
under this Agreement, save that this clause shall not exclude any liability under section 12 of the Sale of Goods Act; 

  

	(c)	a party may claim in contract for breach of this Agreement but shall have no claim or remedy under this Agreement in respect of misrepresentation (whether negligent or otherwise,
and whether made prior to, and/or in, this Agreement) or untrue statement made by any other party; and 

  

	(d)	this clause shall not exclude any liability for, or remedy in respect of, fraudulent misrepresentation. 

  

	18.	NOTICES 

  
 18.1 Any notice or other communication to be given by any party to any other party under, or in connection with, this Agreement or the indemnities set out in clauses 9
and 10 of this Agreement shall be in writing and signed by or on behalf of the party giving it. For the avoidance of doubt, notices under, or in connection with, this Agreement or the indemnities set out in clauses 9 and 10 shall not be validly
served, if sent by email. It shall be served by sending it by fax to the number set out in clause 18.2, or delivering it by hand or internationally recognised courier service, or sending it by pre-paid recorded delivery, special delivery or
registered post, to the address set out in clause 18.2 and in each case marked for the attention of the relevant party set out in clause 18.2 (or as otherwise notified from time to time in accordance with the provisions of this clause 18). Any
notice so served by hand, fax or post shall be deemed to have been duly given: 
  

	(a)	in the case of delivery by hand or internationally recognised courier service, when delivered; 

  

	(b)	in the case of fax, at the time of transmission; and 

  

	(c)	in the case of prepaid recorded delivery, special delivery or registered post, at 10.00 am on the second Business Day following the date of posting, 

  
 provided that, in each case where delivery by hand or by fax occurs after 5.00 pm on a
Business Day, or at any time on a day which is not a Business Day, service shall be deemed to occur at 9.00 am on the next following Business Day. 
  
 References to time in this clause are to local time at the address to which the relevant notice is sent. 
  

 Page 13 

 18.2 The addresses and fax numbers of the parties for the purpose of clause 18.1 are as follows: 
  

			
	 The Vendor
	  	 
		
	 Address:
	  	160 Great Portland Street
	 	  	 London W1W 5QA

	 	  	 United Kingdom

		
	 Fax:
	  	+44 20 7299 5495
		
	 For the attention of:
	  	General Counsel
		
	 New Telewest
	  	 
		
	 Address:
	  	c/o CT Corporation System
	 	  	1209 Orange Street
	 	  	Wilmington
	 	  	Delaware 19801
	 	  	United States of America
		
	 For the attention of:
	  	General Counsel
		
	 With a copy to:
	  	 
		
	 Address:
	  	Fried, Frank, Harris, Shriver & Jacobson LLP
	 	  	One New York Plaza
	 	  	New York, NY 10004
	 	  	United States of America
		
	 Fax:
	  	+1 212 859 4000
		
	 For the attention of:
	  	Brad Eric Scheler
		
	 Telewest UK
	  	 
		
	 Address:
	  	160 Great Portland Street
	 	  	London W1W 5QA
	 	  	United Kingdom
		
	 Fax:
	  	+44 20 7299 5495
		
	 For the attention of:
	  	General Counsel
		
	 With a copy to:
	  	 
		
	 Address:
	  	Fried, Frank, Harris, Shriver & Jacobson (London) LLP
	 	  	99 City Road
	 	  	London EC1Y 1AX
	 	  	United Kingdom
		
	 Fax:
	  	+44 20 7972 9602
		
	 For the attention of:
	  	Timothy Peterson

  

 Page 14 

 18.3 A party may notify any other party to this Agreement of a change to its name, relevant addressee, address or fax
number for the purposes of this clause 18, provided that such notice shall only be effective on: 
  

	(a)	the date specified in the notice as the date on which the change is to take place; or 

  

	(b)	if no date is specified or the date specified is less than five Business Days after the date on which notice is given, the date following five Business Days after notice of any
change has been given. 

  
 18.4 In proving such service it shall be
sufficient to prove that the envelope containing such notice was properly addressed and delivered either to the address shown thereon or into the custody of the postal authorities as a pre-paid recorded delivery, special delivery or registered post
letter, or that the notice was transmitted by fax to the fax number of the relevant party set out in this clause 18 (or as otherwise notified under it). 
  

	19.	WAIVERS 

  
 No failure or delay by any party in exercising any right or remedy provided by law under or pursuant to this Agreement shall impair such right or remedy or operate or be
construed as a waiver or variation of it or preclude its exercise at any subsequent time and no single or partial exercise of any such right or remedy shall preclude any other or further exercise of it or the exercise of any other right or remedy.

  

	20.	COUNTERPARTS 

  
 This Agreement may be executed in any number of counterparts and by the parties to it on separate counterparts, each of which is an original but all of which together
constitute one and the same instrument. 
  

	21.	FURTHER ASSURANCE 

  
 Each of the parties agrees with all due diligence to perform (or procure the performance of) all further acts and things, and execute and deliver (or procure the
execution and delivery of) such further documents, as may be required by law (or, in the case of the Vendor, as Telewest UK may reasonably require), whether on or after Completion, to implement and/or give effect to this Agreement and the
transactions contemplated by it and for the purpose of vesting in Telewest UK (or TCN or Telewest Limited) the full benefit of the assets, rights and benefits to be transferred to Telewest UK (or at Telewest UK’s direction) under this
Agreement. 
  

 Page 15 

	22.	SEVERABILITY 

  
 If any provision of this Agreement is held to be invalid, illegal or unenforceable, then such provision shall (so far as it is invalid, illegal or unenforceable) be given
no effect and shall be deemed not to be included in this Agreement but without invalidating any of the remaining provisions of this Agreement. The parties shall then use all reasonable endeavours to replace the invalid, illegal or unenforceable
provision by a valid, legal and enforceable substitute provision the effect of which is as close as possible to the intended effect of the invalid, illegal or unenforceable provision. 
  

	23.	ASSIGNMENT 

  
 23.1 The Vendor shall not be entitled to assign the benefit of this Agreement in whole or in part. 
  
 23.2 Subject to clause 23.3, each of New Telewest and Telewest UK shall be entitled to assign the benefit of this Agreement in whole or in
part with the prior written consent of Telewest UK or, as applicable, New Telewest. For the avoidance of doubt, the Vendor’s consent shall not be required to any such assignment. 
  
 23.3 For the term of the Senior Secured Credit Facility Agreement and the Proposed Amended Senior Secured Credit Facility Agreement, any
assignment under clause 23.2 shall be subject to the prior written consent of the Agent (acting upon the instructions of the Majority Lenders). 
  

	24.	RIGHTS UNDER CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999

  
 24.1 Subject to the other terms and conditions of this
Agreement: 
  

	(a)	the Vendor Liquidators (once appointed) shall have the right under the Contracts (Rights of Third Parties) Act 1999 (CRTPA) to enforce clauses 8, 9 and 25 of this
Agreement; 

  

	(b)	Telewest Jersey and the Telewest Jersey Liquidators (once appointed) shall have the right under the CRTPA to enforce clauses 8, 10 and 25 of this Agreement;

  

	(c)	TCN shall have the right under the CRTPA to enforce clauses 5, 6 and 25 of this Agreement; 

  

	(d)	Telewest Limited shall have the right under the CRTPA to enforce clauses 5 and 25 of this Agreement; and 

  

	(e)	the Agent (acting upon the instructions of the Majority Lenders) shall have the right under the CRTPA to enforce clauses 8.5, 9.6, 10.6, 23.3 and 25 of this Agreement.

  
 24.2 Save as provided in clause 24.1, a person who is not a
party to this Agreement shall have no right under the CRTPA to enforce any of its terms. 
  

 Page 16 

	25.	VARIATION 

  
 25.1 Subject to clause 25.2 below, no variation of this Agreement (or of any of the documents referred to in this Agreement) shall be valid unless it is in writing and
signed by or on behalf of each of the direct parties to this Agreement. The expression “variation” shall include any variation, supplement, deletion or replacement however effected. 
  
 25.2 The parties to this Agreement shall not in any circumstances terminate or rescind or
vary this Agreement in any way such as to: 
  

	(a)	extinguish the Vendor Liquidators’ right to enforce clauses 8 and 9 and this clause 25 of this Agreement under section 1 of the CRTPA or alter the Vendor Liquidators’
entitlement under that right without the Vendor Liquidators’ prior written consent; 

  

	(b)	extinguish the right of Telewest Jersey or the Telewest Jersey Liquidators to enforce clauses 8 and 10 and this clause 25 of this Agreement under section 1 of the CRTPA or alter
their entitlement under that right without the prior written consent of Telewest Jersey or the Telewest Jersey Liquidators; 

  

	(c)	extinguish the right of TCN to enforce clauses 5 and 6 and this clause 25 of this Agreement under section 1 of the CRTPA or alter TCN’s entitlement under that right without the
prior written consent of TCN; 

  

	(d)	extinguish the right of Telewest Limited to enforce clause 5 and this clause 25 of this Agreement under section 1 of the CRTPA or alter Telewest Limited’s entitlement under
that right without the prior written consent of Telewest Limited; or 

  

	(e)	for the term of the Senior Secured Credit Facility Agreement and the Proposed Amended Senior Secured Credit Facility Agreement, extinguish the right of the Agent to enforce clauses
8.5, 9.6, 10.6, 23.3 and this clause 25 of this Agreement under section 1 of the CRTPA or alter its entitlement under that right without the prior written consent of the Agent (acting upon the instructions of the Majority Lenders).

  
 25.3 This Agreement shall not terminate by reason only of the
dissolution or liquidation of the Vendor or Telewest Jersey. 
  

	26.	JURISDICTION 

  
 26.1 All the parties to this Agreement agree that the courts of England are (subject to clause 26.2 below) to have exclusive jurisdiction to settle any dispute (including
claims for set-off and counterclaims) which may arise in connection with the validity, effect, interpretation or performance of, or the legal relationships established by, this Agreement or otherwise arising in connection with this Agreement.

  
 26.2 Notwithstanding clause 26.1 above, the parties to this Agreement agree
that the Liquidators shall retain the right to bring proceedings in any other court which has 

  

 Page 17 

 
jurisdiction by virtue of the Convention on Jurisdiction and the Enforcement of Judgments signed on 27 September 1968 (as from time to time amended and
extended). 
  
 26.3 New Telewest irrevocably waives any objections on the grounds
of venue or forum non conveniens to the jurisdiction of the courts of England or of any other court in which proceedings are brought by the Liquidators under clause 26.2. 
  
 26.4 New Telewest shall at all times maintain an agent for service of process and any other documents in proceedings in England or any other
proceedings in connection with this Agreement. Such agent shall be Law Debenture Corporate Services Limited currently of Fifth Floor, 100 Wood Street, London EC2V 7EX and any claim form, judgment or other notice shall be sufficiently served on New
Telewest if delivered to such agent at its address for the time being. New Telewest irrevocably undertakes not to revoke the authority of the above agent and if, for any reason, the Vendor requests New Telewest to do so it shall promptly appoint
another such agent with an address in England and advise the Vendor. If, following such a request, New Telewest fails within ten Business Days to appoint another agent, the Vendor shall be entitled to appoint one on behalf of New Telewest at the
expense of New Telewest. 
  

	27.	GOVERNING LAW 

  
 This Agreement and the relationship between the parties shall be governed by, and interpreted in accordance with, English law. 
  

 Page 18 

 SCHEDULE 1 
  

DEFINITIONS 
  
 Act means the Companies Act 1985, as amended; 
  
 Agent has the meaning given to it in the Proposed Amended Senior Secured Credit Facility Agreement; 
  
 Bank means Barclays Bank plc, Queen Square, Bristol BS1 2DY; 
  
 Beneficiaries means (a) the Beneficiaries as such term is defined in the
Intercreditor Deed and (b) from the Completion Date the New Beneficiaries as such term is defined in the Intercreditor Deed as amended on or about that date; 
  
 Business means any and all businesses and activities of the Vendor as at the Completion Date, subject to the interests of and encumbrances created in favour
of the Beneficiaries under the Security Documents, including, without limitation, operating as a holding company and the Business Assets (but excluding the Excluded Assets); 
  
 Business Assets means all the present and future rights, undertaking and assets of the Vendor (other than the Excluded
Assets), subject to the interests of and the encumbrances created in favour of the Beneficiaries under the Security Documents, relating, or attributable, to the Business including, without limitation, the following: 
  

	(a)	the shares of the Vendor in the Subsidiaries (together with all rights attaching to them, including any dividend or other distribution declared or paid on or after the date of this
Agreement); 

  

	(b)	the benefit (subject to the burden) of all Contracts which remain outstanding in whole or in part at the Completion Date; 

  

	(c)	(subject to the provisions of Part C of Schedule 3) the Leasehold Property; 

  

	(d)	the benefit of all Claims subsisting at the Completion Date or arising at any time thereafter; 

  

	(e)	the Debtors; 

  

	(f)	cash held at the Completion Date or at any time thereafter (other than cash which constitutes an Excluded Asset as set out at paragraph 3 of Schedule 4); and

  

	(g)	the TCN Receivable; 

  
 Business Day means a day (excluding Saturdays) on which banks generally are open in London for the transaction of normal banking business; 
  
 Business IPR means all existing Intellectual Property Rights which are owned by the Vendor but excluding the Trade Marks and
Domain Names; 
  

 Page 19 

 Claims means the benefit of all rights and claims of the Vendor arising at any time out of, or in
connection with, the Business (other than the Excluded Claims); 
  
 Commitment Letter means the commitment letter to be dated the date of this Agreement between the Vendor, TCN, New Telewest, Telewest UK and the Senior Lenders in respect of the Proposed Amended Senior Secured Credit Facility
Agreement; 
  
 Completion means completion of the sale and purchase
hereunder in accordance with clauses 4.1 to 4.3; 
  
 Completion Date
means the close of business on the date on which Completion takes place which date shall be prior to the Recapitalisation Supplemental Deed Effective Date; 
  
 Conditions Precedent means the conditions specified in clause 3.1; 
  

Consents has the meaning given to it in clause 5.2; 
  
 Contracts means all contracts, engagements, licences, guarantees and other commitments (including, for the avoidance of doubt, in respect of any
Intellectual Property Rights) including any intra-group debt commitments which have been entered into or undertaken by or on behalf of the Vendor (other than the Excluded Contracts); 
  
 Creditor Beneficiaries means (a) creditors of the Vendor and/or Telewest Jersey in respect of claims relating to the Vendor
Shareholder and Bondholder Reorganisation Expenses and (b) the professional advisers and other persons listed in Schedule 6 (and Creditor Beneficiary means each one of them); 
  
 CRTPA has the meaning given to it in clause 24.1; 
  
 Debtors means amounts due to the Vendor at the Completion Date including in
respect of trade debtors, amounts recoverable on contracts, payments in advance, trade bills receivable, prepayments and accrued income (other than Excluded Debtors); 
  
 Designated Account means the account holding the Expenses Fund; 
  
 Domain Names means the internet domain names set out in Part B of Schedule 5; 
  
 Effective Date means the date on which the Vendor delivers an office copy of
the Order to the Registrar of Companies for registration; 
  
 Employee Share
Schemes means the Telewest 1995 (No. 1) Executive Share Option Scheme, the Telewest 1995 (No. 2) Executive Share Option Scheme, the Telewest 1995 Sharesave Scheme, the Telewest Long Term Incentive Plan, the Telewest Equity Participation
Plan, the Telewest 1995 Restricted Share Scheme, the 1992 Flextech Employee Share Option Scheme, the 1992 Flextech Unapproved Share Option 

  

 Page 20 

 
Scheme, the 1995 Flextech Approved Share Option Scheme, the 1995 Flextech Unapproved Share Option Scheme and the Flextech Sharesave Scheme; 
  
 Escrow Agent means The Bank of New York as appointed by the Vendor and Telewest
Jersey pursuant to the Escrow Agent Agreement; 
  
 Escrow Agent Agreement
means the escrow agent agreement to be entered into between the Vendor, Telewest Jersey, Telewest UK, New Telewest and the Escrow Agent prior to the Effective Date; 
  
 Excluded Assets means the assets excluded from the sale and purchase pursuant to this Agreement, being those more specifically
detailed in Schedule 4; 
  
 Excluded Claims means: 
  

	(a)	the benefit of the rights and claims of the Vendor arising under this Agreement; 

  

	(b)	any personal claim which may be brought by a liquidator or administrator under the Insolvency Legislation; and 

  

	(c)	claims relating to taxation; 

  
 Excluded Contracts means: 
  

	(a)	the lease pursuant to which the Vendor holds the Leasehold Property; 

  

	(b)	the Guarantees; 

  

	(c)	the letter of appointment of Anthony Stenham to the board of directors of the Vendor dated 1 December 1999, as amended by a letter dated 19 September 2000; 

 

	(d)	the letter of appointment of Denise Kingsmill to the board of directors of the Vendor dated 22 June 2001; 

  

	(e)	the Contracts in respect of which novation agreements with, inter alios, Telewest UK, TCN or Telewest Limited (as the case may be) have already been entered into on or before
the Completion Date including, without limitation, the Contracts listed in Part A of Schedule 8 to the extent the novations pursuant to such novation agreements become effective on or before the Effective Date; 

  

	(f)	the Employee Share Schemes; and 

  

	(g)	this Agreement; 

  
 Excluded Debtors means: 
  

	(a)	any debtors relating to taxation claims; 

  

 Page 21 

	(b)	the excluded TCN Receivable; and 

  

	(c)	any amounts due under the Contracts in respect of which novation agreements with, inter alios, Telewest UK, TCN or Telewest Limited (as the case may be) have already been
entered into on or before the Completion Date including, without limitation, the Contracts listed in Part A of Schedule 8 to the extent the novations pursuant to such novation agreements become effective on or before the Effective Date;

  
 Excluded Liabilities means the Liabilities listed
in Schedule 9; 
  
 Excluded TCN Receivable means an amount of
£2,972,860,000 owed by TCN to the Vendor; 
  
 Expenses Fund
means the fund to be retained by the Vendor (as trustee) at Completion in accordance with clause 8 of this Agreement with the Bank; 
  
 Explanatory Statement means the explanatory statement of the Vendor and Telewest Jersey required to be furnished to Scheme Creditors pursuant to section 426
of the Act and article 126 of the Jersey Act; 
  
 Financial Restructuring
has the meaning given to it in Recital (A); 
  
 Goodwill
means the goodwill of the Vendor in relation to the Vendor’s business (including in relation to the Trade Marks and the goods and services in respect of which the Trade Marks are registered) together with the exclusive right for TCN to
represent itself as carrying on the Vendor’s business in succession to the Vendor; 
  
 Guarantees means the guarantees listed in Part B of Schedule 3; 
  
 ICTA means the Income and Corporation Taxes Act 1988; 
  
 Indemnified Liabilities means any actions, proceedings, claims, demands, costs, damages, losses, expenses, taxes, duties, writs, interest fines, penalties and all other debts, obligations (including indemnity obligations) and
liabilities (both ascertained and contingent) of the Vendor or, as the context requires, Telewest Jersey at the Completion Date or at any time thereafter (other than the Excluded Liabilities (with the exception of Liabilities in respect of the
Employee Share Schemes set out at paragraph 5 of Schedule 9)); 
  
 Insolvency Legislation means the Insolvency Act 1986, the Insolvency Rules 1986, the Enterprise Act 2002 and the Jersey Act, each as amended from time to time, together with all primary and secondary legislation, and case law,
relating to the same; 
  
 Intellectual Property Rights means
patents, trade marks, service marks, trade names, internet domain names, rights in designs, copyright (including rights in computer software and databases) and moral rights, rights in know-how and other intellectual property rights, in each case
whether registered or unregistered and including applications for the grant of any such rights and all rights or forms of protection having equivalent or similar effect anywhere in the world; 
  

 Page 22 

 Intercreditor Deed (a) prior to the Completion Date has the meaning given to it in the Senior Secured
Credit Facility Agreement and (b) from the Completion Date has the meaning given to it in the Proposed Amended Senior Secured Credit Facility Agreement; 
  
 Intra-group Loans means the loans listed in Schedule 10; 
  
 Jersey Act means the Companies (Jersey) Law 1991, as amended; 
  
 Jersey Scheme has the meaning given to it in Recital (A); 
  
 Leasehold Property means the premises listed in Part A of Schedule 3; 
  
 Liabilities means any actions, proceedings, claims, demands, costs, damages, losses, expenses, taxes, duties, writs, interest
fines, penalties and all other debts, obligations (including indemnity obligations) and liabilities (both ascertained and contingent) of the Vendor at the Completion Date or at any time thereafter (other than the Excluded Liabilities) and including,
for the avoidance of doubt, the Intra-group Loans; 
  
 Liquidators
means the Vendor Liquidators and/or the Telewest Jersey Liquidators, as applicable; 
  
 Majority Lenders has the meaning given to it in the Proposed Amended Senior Secured Credit Facility Agreement; 
  
 member of the New Telewest Group means any company of which New Telewest is, following the Effective Date, the parent company (within the meaning of section
258(1) of the Act); 
  
 Order means the order of the High Court of
Justice of England and Wales which sanctions the Scheme; 
  
 Proposed
Amended Senior Secured Credit Facility Agreement means the Senior Secured Credit Facility Agreement to be amended and restated pursuant to a supplemental deed to be dated on or around the Completion Date (as from time to time further
amended, varied, extended, restated, replaced, refinanced or supplemented (including by any increase in any amounts outstanding thereunder or any change to the parties thereto)); 
  
 Recapitalisation Supplemental Deed Effective Date has the meaning given to it in the Proposed Amended Senior Secured Credit
Facility Agreement; 
  
 Registrar of Companies means the registrar
of companies within the meaning of the Act; 
  
 Sale of Goods Act
means the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994); 
  
 Scheme has the meaning given to it in Recital (A); 
  
 Scheme Claim has the meaning given to it in the Explanatory Statement; 
  

 Page 23 

 Scheme Creditor has the meaning given to it in the Explanatory Statement; 
  
 Security Documents means (a) the Security Documents as such term is defined in
the Senior Secured Credit Facility Agreement; and (b) from the Completion Date the Security Documents as such term is defined in the Proposed Amended Senior Secured Credit Facility Agreement; 
  
 Security Trustee has the meaning given to it in the Senior Secured Credit
Facility Agreement; 
  
 Senior Lenders means the lenders under the
Senior Secured Credit Facility Agreement; 
  
 Senior Secured Credit Facility
Agreement means the agreement dated 16 March 2001 for credit facilities of £2 billion together with an institutional facility of up to £250 million made between, inter alios, TCN and the Senior Lenders; 
  
 Subsidiaries means the companies listed in Schedule 2; 
  
 TCGA means the Taxation of Chargeable Gains Act 1992; 
  
 TCN means Telewest Communications Networks Limited whose registered office is
at Export House, Cawsey Way, Woking, Surrey GU21 6QX; 
  
 TCN Receivable
means the amounts owed by TCN to the Vendor immediately prior to Completion (other than the Excluded TCN Receivable); 
  
 Telewest Jersey means Telewest Finance (Jersey) Limited whose registered office is at Whiteley Chambers, Don Street, St. Helier, Jersey JE4 9WG, Channel
Islands; 
  
 Telewest Jersey Liquidators means the liquidators
appointed to Telewest Jersey from time to time; 
  
 Telewest Limited
means Telewest Limited whose registered office is at Export House, Cawsey Way, Woking, Surrey GU21 6QX; 
  
 Trade Marks means the trade mark registrations and applications for registration listed in Part A of Schedule 5; 
  
 Transaction means (i) the transfer of substantially all of the assets of the
Vendor pursuant to this Agreement; (ii) the issue by New Telewest of shares of New Telewest common stock to the Escrow Agent pursuant to and in accordance with clause 4.4 of this Agreement; and (iii) the compromise and release of the Scheme Claims
in consideration for the distribution of shares of New Telewest common stock to shareholders of the Vendor and Scheme Creditors pursuant to the Scheme and the Jersey Scheme; and (iv) the solvent liquidation of the Vendor and the liquidation of
Telewest Jersey; 
  
 UK or United Kingdom means the
United Kingdom of Great Britain and Northern Ireland; 
  

 Page 24 

 US means the United States of America, its territories and possessions, any State of the United States of
America and the District of Columbia; 
  
 VAT means value added tax
as provided for in the Value Added Tax Act 1994 or any similar tax replacing or introduced in addition to the same; 
  
 Vendor Liquidators means the liquidators appointed to the Vendor from time to time; and 
  
 Vendor Shareholder and Bondholder Reorganisation Expenses means any expenses of the Vendor’s shareholders or the Scheme
Creditors incurred in connection with and arising solely as a result of the Transaction and for which the Vendor or Telewest Jersey (as the case may be) is liable. 
  

 Page 25 

 SCHEDULE 2 
  

SUBSIDIARIES 
  
  

 Page 26 

 SCHEDULE 3 
  

Part A Details of Leasehold Property 
  
 1. Lease of premises known as land at Norton Junction adjacent to The Grand Union Canal dated 20 March 1998 made between (1) British Waterways Board and (2) Telewest
Communications plc 
  

 Page 27 

 SCHEDULE 3 
  

Part B Details of Guarantees 
  
  

 Page 28 

 SCHEDULE 3 
  

Part C Assignment of Leasehold Property and Substitution of TCN or Telewest 
 Limited for the Vendor in relation to the Guarantees 
  

	1.	DEFINITIONS AND INTERPRETATION 

  
 1.1 In this Schedule, unless the context otherwise requires, the following expressions shall have the following meanings: 
  
 Agreement means the Agreement of which this Schedule is a part; 
  
 Actual Completion Date means (a) in relation to the Property, the date upon
which completion of the transfer of the Property actually takes place (and, for the avoidance of doubt, is not the date the transfer is registered at H.M. Land Registry or stamped) and (b) in relation to each Guarantee, the date upon which the
Purchaser enters into an agreement with the Landlord effecting a substitution of itself for the Vendor in relation to that Guarantee; 
  
 Condition means the condition set out in paragraph 2.4 of this Schedule; 
  
 Consent means any consent, waiver or deed of variation that is required from the Landlord to transfer the Lease to the
Purchaser; 
  
 Court Proceedings means proceedings issued by the
Vendor in a court of competent jurisdiction for a declaration that a Consent has been unreasonably withheld or delayed in breach of the terms (express or implied) of the Lease; 
  
 Guarantee means each guarantee given by the Vendor short particulars of which are set out in Part B of this Schedule and
includes any other documents connected therewith completed after the date hereof but prior to the Actual Completion Date and Guarantees shall be construed accordingly; 
  
 Landlord means (a) in relation to the Property, the person who is lessor/landlord under the Lease and is entitled to the
freehold or leasehold reversion immediately expectant upon the term granted by the Lease and the successors in title and assigns of such person and includes the person or persons entitled to the freehold and any other interest in reversion which is
superior to the interest of the lessor/landlord under that Lease; and (b) in relation to each Guarantee, the person entitled to the benefit of that Guarantee (as the context requires); 
  
 Lease means, in relation to the Property, the lease short particulars of which are set out in Part A of this Schedule under
which the Vendor holds the Property and includes any other documents connected therewith completed after the date hereof but prior to the Actual Completion Date; 
  
 Losses means all losses, liabilities, damages, settlements, costs, fees and expenses whatsoever calculated on an after tax
basis; 
  

 Page 29 

 Permitted Encumbrance means any mortgage, standard security, charge (whether legal or equitable),
assignation in security, pledge, lien, hypothecation or encumbrance securing any obligation of any person in relation to the Property; 
  
 Property means the Property held by the Vendor with a leasehold tenure short details of which are set out in Part A of this Schedule including (without
limitation) each, every and any part thereof; 
  
 Purchase Price
means, in respect of the Property the amount allocated to such Property in accordance with clause 2.3 of this Agreement; 
  
 Purchaser means Telewest Communications Networks Limited or Telewest Limited (as applicable); 
  
 Purchaser’s Solicitors shall mean Freshfields Bruckhaus Deringer of 65 Fleet Street, London EC4Y 1HS; 
  
 Release means any and all consents and releases required from a Landlord in
respect of a Guarantee in order to effect a Substitution in relation to such Guarantee and Releases shall be construed accordingly; 
  
 Substitution means the release of the Vendor by a Landlord under a Guarantee and the substitution of the Purchaser for the Vendor in relation to such
Guarantee and Substitutions shall be construed accordingly; 
  
 Vendor’s Solicitors shall mean Freshfields Bruckhaus Deringer of 65 Fleet Street, London EC4Y 1HS; and 
  
 Vendor Liquidators has the meaning given to it in the Agreement of which this Schedule is a part. 
  
 1.2 The paragraph headings in this Schedule shall not affect its interpretation. 

 
 1.3 Unless the context otherwise requires: 
  

	(a)	references in this Schedule to clauses shall be construed as references to clauses of the Agreement of which this Schedule is a part; and references to paragraphs shall be construed
as references to paragraphs of this Schedule; 

  

	(b)	capitalised terms in this Schedule shall, save where otherwise defined herein, have the meanings given to them in the Agreement; and 

  

	(c)	references to transfer shall be construed so as to include assigning or assignment. 

  

	2.	SALE AGREEMENT 

  
 2.1 The Vendor shall sell the Property and the Purchaser shall purchase the same with no title guarantee and (save as provided for elsewhere in this Agreement) with
vacant possession. 
  

 Page 30 

 2.2 The Vendor sells the Property subject always to the other provisions of this Schedule and of this Agreement (and the
transfer referred to in paragraph 6 shall be construed accordingly). 
  
 2.3 The
sale price for the Property shall be the Purchase Price. 
  
 2.4 Completion of the
transfer of the Property is conditional upon the grant of the Consent required in respect of the Property. 
  
 2.5 If, in relation to the Property: 
  

	(a)	the Vendor and Purchaser agree in writing (making express reference to this paragraph) that the Landlord has unreasonably withheld and/or delayed a Consent; or

  

	(b)	a declaration in the Vendor’s favour is obtained from the relevant court pursuant to Court Proceedings and the period of five (5) weeks has passed since the perfection of the
order for such declaration without any appeal against such declaration having been lodged by the Landlord (the Relevant Date), 

  
 then, for the purposes of this Schedule, the Consent shall be deemed to have been granted on the date any such agreement is reached or on the Relevant Date (as the case
may be) and, with effect from such date, the Condition shall be deemed to be satisfied and the Vendor’s obligations under paragraph 7 shall cease in relation to the Lease. 
  

	3.	COMPLETION 

  
 3.1 The transfer of the Property shall be completed at the time and in the manner set out in paragraph 6.3 and the Purchase Price shall be paid on the Completion Date
even if a Consent has not been obtained or the Condition has not then actually been satisfied or deemed to have been satisfied pursuant to paragraph 2.5. 
  

	4.	TITLE 

  
 4.1 If the Property held by the Vendor has a registered title, title shall be deduced in accordance with Section 110 of the Land Registration Act 1925 and shall comprise copy entries of the registers relating to such
titles and copies of the filed plans and copies of the Vendor’s Lease (where applicable). 
  
 4.2 If the Property held by the Vendor has an unregistered title, title commences with the root of title for the Property. 
  
 4.3 Title to the Property having been deduced to the Purchaser or the Purchaser’s Solicitors prior to the date hereof (as the Purchaser hereby admits), the Purchaser
shall be deemed to have accepted such title and shall not raise any enquiries or requisitions thereon nor make any objections in respect thereof after the date hereof except where the subject matter of the enquiry or requisition is registered at H.
M. Land Registry or the Central Land Charges Register on or after the date of this Agreement. 
  

 Page 31 

 4.4 Without prejudice to the generality of paragraph 4.3, the Purchaser shall not raise any requisition or objection in
respect of the fact that: 
  

	(a)	the transfer to the Vendor of the Property may not at the Actual Completion Date yet have been stamped; or 

  

	(b)	the Vendor may not at the Actual Completion Date be registered as proprietor of the Property in respect of which the transfer to the Vendor has not yet been registered or is in the
course of registration (whether or not first registration), 

  
 subject in either case to the Vendor having provided the Purchaser with copies (certified where possible) of such transfer (which the Vendor shall be obliged to stamp) and of the application for registration. 
  

	5.	MATTERS AFFECTING THE PROPERTY 

  
 5.1 The Property is sold subject to the following matters so far as they relate to the Property and are still subsisting and capable of
taking effect at the Actual Completion Date: 
  

	(a)	any matters contained or referred to in the Property Register or the Charges Register of the registered title to the Property kept at HM Land Registry (as the case may be);

  

	(b)	the rent reserved by and the covenants on the part of the lessee/tenant and the conditions contained in and the other provisions of the Lease; 

  

	(c)	all rights of way, light and air, support, drainage and other rights, easements, quasi-easements, liabilities and public or private rights whatsoever and to any liability to repair
or contribute to the repair of sewers, drains, pipes, party structures and other like matters; 

  

	(d)	all matters in the nature of overriding interests as set out in Section 70(1) of the Land Registration Act 1925 (as amended); 

  

	(e)	all Local Land Charges (whether or not registered before the date of this Agreement) and all matters capable of registration as Local Land Charges (whether or not actually
registered); 

  

	(f)	all notices served and orders, demands, proposals, or requirements made by any local or other public or competent authority; 

  

	(g)	all actual or proposed orders, directions, plans, notices, instruments, charges, restrictions, conditions, agreements or other matters arising under any statute relating to town and
country planning and any laws and regulations intended to control or regulate the construction, demolition, alteration or change of use of land or buildings or to preserve or protect the environment; and 

  

	(h)	Permitted Encumbrances. 

  

 Page 32 

 5.2 The Purchaser shall be deemed to purchase or accept a transfer with full knowledge and notice of the matters
aforesaid and shall not raise any objection or requisition whatsoever in respect of the same. 
  

	6.	FORM OF TRANSFER 

  
 6.1 The transfer to the Purchaser of the Property shall be in a form agreed between the Purchaser and the Vendor. 
  
 6.2 The transfer of the Property shall also contain declarations that: 
  

	(a)	notwithstanding the covenant by the Vendor implied under Section 3(1) of the Law of Property (Miscellaneous Provisions) Act 1994 (the 1994 Act) the transfer is subject
to all matters to which it is expressed to be subject pursuant to the terms of this Agreement; 

  

	(b)	the covenants by the Vendor under Section 4(1)(b) of the 1994 Act are not implied; 

  

	(c)	no covenants by the Vendor shall be implied by Sections 2, 3 and 4 of the 1994 Act; and 

  

	(d)	a person who is not a party to the transfer shall have no right under the Contracts (Rights of Third Parties) Act 1999 to enforce its terms. 

  
 6.3 The Purchaser shall prepare and execute a transfer of the Property in duplicate and shall
deliver the executed transfer and any other documents to be entered into between the Vendor and Purchaser (with or without other parties) to the Vendor’s Solicitors no later than five (5) Business Days after the date on which the Condition is
satisfied or deemed to have been satisfied pursuant to paragraph 2.5 and the Vendor shall execute and return the transfer to the Purchaser within five (5) Business Days of receiving the same and the Purchaser shall within thirty (30) Business Days
of receipt of the transfer arrange for a duplicate of it to be stamped and denoted at the Purchaser’s expense and returned to the Vendor’s Solicitors. 
  

	7.	OBTAINING THE CONSENT 

  
 7.1 The Vendor shall keep the Purchaser informed of the progress of the application for Consent. 
  
 7.2 The Vendor shall use its reasonable endeavours (including, without limitation, taking Court Proceedings at the cost and request of the
Purchaser except where either the Vendor or the Purchaser is able to provide the opinion of a leading counsel specialising in landlord and tenant law that such Court Proceedings would, on balance, be unsuccessful) and the Purchaser will assist the
Vendor to obtain the Consent. 
  
 7.3 The Purchaser shall promptly and
expeditiously satisfy the requirements of the Landlord and shall take all steps to assist the Vendor in obtaining the Consent (including, without limitation, assistance in connection with any Court Proceedings or 

  

 Page 33 

 
appeal in respect of them) and without prejudice to the generality of the foregoing shall: 
  

	(a)	provide to the Vendor all information, references and documents as shall be requested by the Landlord to support any application for a Consent made by the Vendor in accordance with
this Schedule or which may otherwise be agreed by the parties; 

  

	(b)	in any licence to assign or guarantee, enter into direct covenants with the Landlord to observe and perform the tenant’s covenants and obligations contained in the Lease until
released under the Landlord and Tenant (Covenants) Act 1995; and 

  

	(c)	if lawfully required, provide such guarantee, surety or other security for the obligations of the Purchaser (as tenant) under the Lease as is acceptable to the Landlord,

  
 to the intent that the Purchaser will take all steps and do all
acts and make all payments which it is necessary to be done and which it is capable of doing or to be paid to meet the requirements of the Landlord as aforesaid so as to ensure that the Consent is obtained. 
  
 7.4 Any applications made by the Vendor to the Landlord or its solicitors or agents in
relation to the obtaining of the Consent shall be in a form approved by the Purchaser, such approval not to be unreasonably withheld or delayed. 
  
 7.5 Subject to paragraph 12 below, the costs incurred by or awarded against the Vendor in obtaining the Consent and in pursuing Court Proceedings and any appeal in
respect of them (whether by the Vendor or the Landlord) shall be allocated as follows: 
  

	(a)	the Purchaser shall bear its own and the Vendor’s legal costs in applying for and obtaining the Consent; 

  

	(b)	the Purchaser shall be responsible for the legal and other costs payable to the Landlord under the Lease; and 

  

	(c)	the cost of any Court Proceedings shall be paid by the Purchaser. 

  
 7.6 If the Condition has not been satisfied or deemed satisfied in respect of the Property within twelve (12) months of the date of this Agreement then (provided that it
has complied with its obligations contained in this Agreement so far as they relate to the Lease) either the Vendor or Purchaser shall be entitled by giving written notice to the other at any time thereafter (but only before the Condition has been
satisfied or deemed satisfied) to elect to withdraw the Property from this Agreement and upon service of such notice the provisions of this Agreement so far as they relate to the Property shall determine but without prejudice to: 
  

	(a)	the liability of either party for any subsisting breach of that party’s obligations under this Agreement in relation to the Property; and 

  

 Page 34 

	(b)	the parties’ obligations under paragraph 7.7. 

  
 7.7 Upon service of a notice pursuant to paragraph 7.6: 
  

	(a)	the Vendor and Purchaser shall be released from any obligation to complete the transfer of the Property to the Purchaser; 

  

	(b)	the Vendor shall use all reasonable endeavours to: 

  

	 	(i)	transfer the Property to a third party purchaser (including obtaining any consent, waiver or deed of variation that is required from the relevant Landlord); or

  

	 	(ii)	otherwise dispose of its entire interest in the Property; and 

  

	(c)	in the event of the Vendor transferring the Property to a third party purchaser or otherwise disposing of its interest in the Property under paragraph 7.7(b) above, the Purchaser
shall: 

  

	 	(i)	be entitled to receive the proceeds (if any) of such transfer or disposal; 

  

	 	(ii)	be entitled to receive all rent and other sums (whether past present or future) due to the Vendor from the tenant and any other party under the Lease of the Property;

  

	 	(iii)	assume all past, present and future liability on the part of the Vendor under the Lease; and 

  

	 	(iv)	be entitled to exercise any rights and enjoy any benefits that the Vendor may have under the Lease, 

  
 and the parties shall act reasonably in making such arrangements but, in the event of a dispute between the parties as to the operation of
this paragraph 7.7, the dispute shall be referred to a partner in a major legal practice with commercial experience who shall be appointed by agreement between the Vendor and the Purchaser or (in the absence of agreement) by the president of the Law
Society on the application of either party, and shall act as an expert. 
  

	8.	OCCUPATION BY THE PURCHASER 

  
 8.1 If, in relation to the Property, the Condition has not been satisfied or deemed satisfied in accordance with paragraph 2.5 by
Completion, the Purchaser shall, with effect from Completion, be entitled to receive the income from the Property and to occupy the Property as licensee upon the terms and conditions contained in the Lease. Such licence shall be revocable by the
Vendor if forfeiture by the Landlord on account of the Purchaser’s occupation itself constituting a breach of covenant or condition in the Lease or the breach of an order of the Court cannot be avoided other than by requiring the Purchaser to
vacate the Property. In the event of such revocation by the Vendor, the terms of paragraphs 7.6 and 7.7 shall apply as if the period of twelve (12) months had expired. 
  

 Page 35 

 8.2 Whether or not the Purchaser shall take occupation of the Property as licensee pursuant to paragraph 8.1, the
Purchaser shall, with effect from Completion, pay all rents, service charges, insurance premiums and other sums payable by the tenant under the Lease and shall observe the tenant’s covenants and conditions contained therein and the covenants,
conditions and obligations binding the Vendor contained in any relevant documents relating to the Property and (if registered) the registers of the relevant title(s) in each case from Completion and shall, subject to paragraph 12 below, keep the
Vendor indemnified from and against all Losses arising on account of any breach non-observance or non-performance thereof whether before, on or after the date hereof. 
  
 8.3 The Vendor shall promptly supply to the Purchaser copies of all invoices, demands, notices, accounts and other communications received
by the Vendor or its agents in connection with any of the matters for which the Purchaser may be liable to make any payment or perform any obligation pursuant to paragraph 8.2, and shall at the Purchaser’s cost take any steps and/or pass on any
representations which the Purchaser may reasonably require to be made in connection with any such matters. 
  
 8.4 Subject to paragraph 12 below, the Purchaser shall indemnify and keep the Vendor indemnified from and against all Losses arising on account of any breach of the provisions of this Schedule by the Purchaser.

  
 8.5 In paragraphs 8.6 and 8.8, Lease means the Lease.

  
 8.6 The Vendor will not: 
  

	(a)	effect or accept any variation or surrender or other termination of the Lease; nor 

  

	(b)	serve any notices upon the Landlord or tenant thereunder; nor 

  

	(c)	agree or take any steps in relation to any rent review, 

  
 without the prior written consent of the Purchaser (such consent not to be unreasonably withheld or delayed) and the Vendor shall forthwith send a copy to the Purchaser
of any notice or other material communication received in connection with the Lease. The Vendor shall, with all due expedition, take such action as the Purchaser may reasonably require in connection with any such rent review. 
  
 8.7 Subject to paragraph 12 below, the proper costs and expenses incurred by the Vendor and
Purchaser in connection with any such review of rent shall be borne by the Purchaser (irrespective of whether the rent review falls before or after Completion). 
  

8.8 The Vendor and Purchaser will co-operate in any reasonable arrangements proposed by either of them designed to provide for the Purchaser the benefits of the Lease
with effect from Completion, including (without limitation): 
  

	(a)	enforcement (at the cost and for the account of the Purchaser) of all rights of the Vendor against any other party thereto; and 

  

 Page 36 

	(b)	taking or, as the case may be, joining in such action as the Purchaser may reasonably request (in either case at the expense of the Purchaser) to avoid, dispute, resist, appeal,
compromise or defend any claim for forfeiture and/or for damages and/or the exercise or purported exercise of any rights or remedies resulting or arising from the occupation of the Purchaser prior to receipt or deemed receipt of the Consent.

  

	9.	RESTRICTION ON SUB SALE 

  
 The Vendor shall not be required to transfer the Property for a greater consideration than the Purchase Price. 
  

	10.	SUBSTITUTION 

  
 10.1 The Vendor shall apply to the Landlords for the Releases and the Vendor and Purchaser will take all steps and enter into all such documentation as is necessary to
achieve the Substitutions and obtain the Releases in respect of the Guarantees. 
  
 10.2 Completion of the Substitutions is conditional upon the grant of the Releases required in respect of the Guarantees. 
  
 10.3 If, in relation to a Guarantee, the Vendor and Purchaser (after making and progressing a proper application to the respective Landlord for a Release) agree in
writing (making express reference to this paragraph) that such Landlord will not grant a Release then, with effect from such date, the Vendor’s and Purchaser’s obligations under this paragraph 10 shall cease in relation to such Release.

  
 10.4 Save for the Releases which the Vendor has applied for as at the
Completion Date, the Vendor shall not later than five (5) Business Days after the Completion Date apply to the Landlords for the Releases and keep the Purchaser informed of the progress of each application. 
  
 10.5 The Vendor shall use its reasonable endeavours (including, without limitation, taking
Court Proceedings at the cost and request of the Purchaser except where the Substitution is absolutely prohibited by the lease to which the Guarantee relates or the Landlord under that lease to which the Guarantee relates has an absolute right to
refuse consent or either the Vendor or Purchaser is able to provide the opinion of a leading counsel specialising in landlord and tenant law that such Court Proceedings would be, on balance, unsuccessful) and the Purchaser will assist the Vendor to
obtain the Releases. 
  
 10.6 The Purchaser shall promptly and expeditiously
satisfy the requirements of the Landlord and shall take all steps to assist the Vendor in obtaining the Releases (including, without limitation, assistance in connection with any Court Proceedings or appeal in respect of them) and without prejudice
to the generality of the foregoing shall: 
  

	(a)	 provide to the Vendor all information, references and documents as shall be requested by any Landlord to support any application for a Release made by 

  

 Page 37 

	 	 
the Vendor in accordance with this Schedule or which may otherwise be agreed by the parties; 

  

	(b)	in any necessary document, enter into direct covenants with the relevant Landlord to observe and perform the guarantor’s covenants and obligations contained in the leases to
which the Guarantees relate throughout the residue of the term of the lease or, in the case of a new lease under the Landlord and Tenant (Covenants) Act 1995, until released; and 

  

	(c)	if lawfully required, provide such further guarantee, surety or other security for the obligations of the Purchaser (as Guarantor) under the lease as is acceptable to the relevant
Landlord, 

  
 to the intent that the Purchaser will take all steps
and do all acts and make all payments which it is necessary to be done and which it is capable of doing or to be paid to meet the requirements of the Landlord as aforesaid so as to ensure that the Releases are obtained. 
  
 10.7 Any applications made by the Vendor to the Landlords or their solicitors or agents in
relation to the obtaining of the Releases shall be in a form approved by the Purchaser, such approval not to be unreasonably withheld or delayed. 
  
 10.8 Subject to paragraph 12 below, the costs incurred by or awarded against the Vendor in obtaining the Releases and in pursuing Court Proceedings and any appeal in
respect of them (whether by the Vendor or the Landlord) shall be allocated as follows: 
  

	(a)	the Purchaser shall bear its own and the Vendor’s legal costs in applying for and obtaining the Releases; 

  

	(b)	the Purchaser shall be responsible for the legal and other costs payable to the Landlords under the leases to which the Guarantees relate; and 

  

	(c)	the cost of any Court Proceedings shall be paid by the Purchaser. 

  
 10.9 If the Release has not been obtained in respect of any Guarantee within twelve (12) months of the date of this Agreement then (provided that it has complied with its
obligations contained in this Agreement so far as they relate to the Guarantee) either the Vendor or Purchaser shall be entitled by giving written notice to the other at any time thereafter (but only before the Release has been obtained) to elect to
withdraw the relevant Guarantee from this Agreement and upon service of such notice the provisions of this Agreement so far as they relate to the relevant Guarantee shall determine but without prejudice to: 
  

	(a)	the liability of either party for any subsisting breach of that party’s obligations under this Agreement in relation to the relevant Guarantee; and 

  

	(b)	the parties’ obligations under paragraph 10.3. 

  

 Page 38 

	11.	NON-MERGER 

  
 Notwithstanding completion of the sale and purchase as contemplated by this Agreement, this Schedule shall remain in full force and effect so far as anything contained
herein remains to be implemented. 
  

	12.	PAYMENT OF COSTS ETC. 

  
 For the avoidance of doubt, where pursuant to this Schedule the Purchaser is obliged to pay or bear the Vendor’s costs and expenses or
to indemnify the Vendor, the Purchaser shall make payment in respect of such costs and expenses or indemnification directly to the Vendor Liquidators or to the Landlord, agent, surveyor, legal adviser, creditor or other party, as applicable.

  

 Page 39 

 SCHEDULE 4 
  

EXCLUDED ASSETS 
  
  

 Page 40 

 SCHEDULE 5 
  

REGISTERED RIGHTS 
  
 Part A 
  
 Trade Marks 
  
  

 Page 41 

 Trade Marks 
  
  

 Page 42 

 Trade Marks 
  
  

 Page 43 

 SCHEDULE 5 
  

Part B 
  
 DOMAINS REGISTERED TO 
 TELEWEST COMMUNICATIONS PLC 
  
  

 Page 44 

 SCHEDULE 6 
  

LIST OF ADVISERS 
  
 Professional advisers and/or service providers engaged in connection with the 
 Financial Restructuring for whose fees the Vendor is liable 
  
  

 Page 45 

 SCHEDULE 7 
  

APPORTIONMENT 
  
  

 Page 46 

 SCHEDULE 8 
  

CONTRACTS TO BE NOVATED 
  
 Part A 
  
 Contracts in respect of which novation agreements have been entered into 
  
  

 Page 47 

  
 Part B 
  
 Contracts in respect of which novation agreements have not been entered
into1 
  

 Page 48 

  
 SCHEDULE 9 

 
 EXCLUDED LIABILITIES 
  

 Page 49 

  
 SCHEDULE 10

  
 INTRA-GROUP LOANS 
  

 Page 50 

  
 SCHEDULE 11

  
 FORM OF NOVATION AGREEMENT 
  

 Page 53.1 

  
 SCHEDULE 12

  
 FORM OF NOTICE OF ASSIGNMENT 
  

 Page 53.2 

  
 SCHEDULE 13

  
 FORM OF ASSIGNMENT OF TRADE MARKS AND DOMAIN NAMES

  
 [            ] 2004 
  
 TELEWEST COMMUNICATIONS PLC 
  
 TELEWEST COMMUNICATIONS NETWORKS LIMITED 
  

  
 DEED OF ASSIGNMENT 
 OF TRADE MARKS AND DOMAIN NAMES 
  

  

 Page 53.3 

  
 IN WITNESS WHEREOF this Agreement has
been executed and delivered as a deed by the parties hereto the day and year first before written. 
  

			
	 EXECUTED as a DEED by
	  	)
	 TELEWEST COMMUNICATIONS PLC
	  	)
	 acting by two directors/a director
	  	)
	 and the Secretary
	  	)
	 	  	 
	 	  	Director
	 	  	 
	 	  	Director/Secretary
	 	  	 
	 EXECUTED as a DEED
	  	)
	 on behalf of TELEWEST GLOBAL, INC.
	  	)
	 a company organised under the laws of Delaware
	  	)
	 by [a] duly authorised [Signatory/signatories] who
	  	)
	 in accordance with the laws of that territory,
	  	)
	 [is or are] acting under the authority of
	  	)
	 TELEWEST GLOBAL, INC.
	  	)
	 	  	)
	 EXECUTED as a DEED by
	  	)
	 TELEWEST UK LIMITED
	  	)
	 acting by two directors/a director
	  	)
	 and the Secretary
	  	)
	 	  	 
	 	  	Director
	 	  	 
	 	  	Director/Secretary

  

 Page 51Voting Agreement

  
 Exhibit 10.39

  
 TELEWEST COMMUNICATIONS PLC 
  
 TELEWEST FINANCE (JERSEY) LIMITED 
  
 TELEWEST GLOBAL, INC. 
  
 LIBERTY MEDIA INTERNATIONAL HOLDINGS, LLC 
  
 (FORMERLY LIBERTY MEDIA INTERNATIONAL, INC.) 
  
 VOTING AGREEMENT 
  
 This Agreement (as the same may be amended, modified or supplemented from
time to time in accordance with the terms hereof, this “Agreement”) is entered into by (i) Telewest Communications plc (“Telewest” or the “Company”), (ii) Telewest Finance (Jersey) Limited (“Telewest Jersey”),
(iii) Telewest Global, Inc. (“New Telewest”) and (iv) Liberty Media International Holdings, LLC. on behalf of itself and each of its affiliates (“Liberty”) which is a beneficial owner of, or has the right to vote and direct the
disposition of, certain high yield notes issued under one or more of (a) the Indenture dated as of October 3, 1995 between Telewest and The Bank of New York as trustee relating to the 9.625% Senior Debentures due 2006 of Telewest; (b) the Indenture
dated as of February 19, 1999 between Telewest and The Bank of New York as trustee relating to the 5.25% Senior Convertible Notes due 2007 of Telewest; (c) the Indenture dated as of October 3, 1995 between Telewest and The Bank of New York as
trustee relating to the 11% Senior Discount Debentures due 2007 of Telewest; (d) the Indenture dated as of November 9, 1998 between Telewest and The Bank of New York as trustee relating to the 11.25% Senior Notes due 2008 of Telewest; (e) the
Indenture dated as of April 15, 1999 between Telewest and The Bank of New York as trustee relating to the 9.25% Dollar Senior Discount Notes due 2009 and the 9.875% Sterling Senior Discount Notes due 2009 of Telewest; (f) the Indenture dated as of
January 25, 2000 between Telewest and The Bank of New York as trustee relating to the 9.875% Dollar Senior Notes due 2010, the 11.375% Dollar Senior Discount Notes due 2010 and the 9.875% Sterling Senior Notes due 2010 of Telewest, and (g) the
Indenture dated as of 7 July 2000 between Telewest Jersey (as issuer), Telewest (as guarantor) and The Bank of New York as trustee relating to the 6% Senior Convertible Notes due 2005 of Telewest Jersey and, in each case, as thereafter amended and
supplemented from time to time, as the case may be (together the “Indentures”) and the 5% Accreting Convertible Notes due 2003 originally issued to Deutsche Telekom (the “Eurobell Notes” and together with the notes issued
pursuant to the Indentures, the “Notes”) in connection with a proposed financial restructuring of the Company and Telewest Jersey, the principal terms of which are described in Appendix 1 attached hereto (the “Financial
Restructuring”). Liberty is the registered owner of certain shares in the Company or has the power and authority to cause the registered owners of certain shares in the Company to vote in connection with the Financial Restructuring. 

 
 This Agreement is also entered into pursuant to the term sheet dated 14
August 2003 (the “Term Sheet”) entered into by the Company, Telewest Jersey, 

  

 Page 1 

 
various holders of the Notes, Liberty Media Corporation and IDT Corporation (“IDT”) relating to the Financial Restructuring. 
  
 The Financial Restructuring is to be implemented through (i) the completion
of the proceedings and actions referred to in this Agreement and any proceeding or arrangement that the Company, Telewest Jersey, each of the noteholders who are signatories to the Term Sheet (the “Specified Noteholder Group”) and Liberty
may agree in writing to be necessary under English, Jersey and U.S. law (collectively, the “Proceedings”), which includes the following: a scheme of arrangement of the Company (the “Plc Scheme”) under section 425 of the Companies
Act 1985, as amended (the “1985 Act”); a scheme of arrangement of Telewest Jersey (the “Jersey Scheme”) under section 425 of the 1985 Act and section 125 of the Companies (Jersey) Law 1991, as amended; a concurrent proceeding
pursuant to chapter 11 of the U.S. Bankruptcy Code (if necessary); and ancillary proceedings in respect of the Plc Scheme and/or the Jersey Scheme pursuant to Section 304 of the U.S. Bankruptcy Code (the “Section 304 Proceedings”); and
(ii) the following related steps: 
  

	 	(a)	the passing of the shareholder resolution of Telewest specified in Appendix 1 in order to implement the Financial Restructuring (the “Shareholder Resolution”);

  

	 	(b)	the execution of a revised loan agreement (the “Revised Senior Secured Facility Agreement”) between Telewest Communications Networks Limited (“TCN”) and its
lenders on substantially the terms specified in Appendix 1; 

  

	 	(c)	the transfer to a direct or indirect wholly-owned subsidiary of New Telewest, a company incorporated under the laws of Delaware, of substantially all of the assets of Telewest
(other than the shares of Telewest Jersey, the shares of New Telewest and a cash amount) and the assumption by such subsidiary of (and/or giving of an indemnity with respect to) substantially all the liabilities of Telewest;

  

	 	(d)	the termination of the Relationship Agreement (as defined below); and 

  

	 	(e)	the satisfaction (or waiver by the Company, Telewest Jersey, the Specified Noteholder Group or the Telewest Group’s senior lenders (as the case may be)) of the conditions to
the Plc Scheme and the Jersey Scheme, 

  
 (together
with the Proceedings, the “Restructuring Steps”). 
  
 Following the Financial Restructuring there shall be a shareholders’ voluntary liquidation of Telewest which shall commence on the passing of the shareholder resolutions specified in Appendix 1 (the “Liquidation
Resolutions”). 
  
 In consideration of the promises and the
mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company, Telewest Jersey, 

  

 Page 2 

 
New Telewest and Liberty (collectively, the “Parties”), intending to be legally bound, agree as follows: 
  

	1.	Liberty Agreements. Liberty represents that (i) it is the beneficial owner of the outstanding principal amount of certain Notes specified on the signature page hereto (the
“Relevant Notes”) directly or indirectly through one or more of its subsidiary undertakings and has the power to vote and dispose, or to cause each of its subsidiary undertakings, holding companies and subsidiary undertakings of such
holding companies (together, the “Liberty Group”) which is a holder of the Relevant Notes to vote and dispose of the Relevant Notes, and (ii) one or more members of the Liberty Group is entitled to all of the rights and economic benefits
of the Relevant Notes. Liberty represents that it has the power and authority to cause the registered holders of certain shares specified on the signature page hereto (the “Relevant Shares”) to exercise the votes attaining to those shares
in accordance with the directions of Liberty. Liberty agrees and represents that, subject to the following Sections hereof and, in respect of sub-sections (a) to (d) below, subject to its receipt of legally sufficient solicitation materials and any
other documents in respect of the Plc Scheme and the Jersey Scheme and the terms of this Agreement (including Appendix 1 and the surviving provisions of the Term Sheet) for the implementation of the Financial Restructuring: 

 

	 	(a)	it shall vote, or procure that the relevant registered holders shall vote, in favour of the Shareholder Resolution and the Liquidation Resolutions in relation to the holdings of
shares set out on the signature pages hereto and in relation to any other shares of the Company it, or any of its affiliates, may acquire; 

  

	 	(b)	 it hereby grants the Company its consent (such consent to include (without limitation) the written consent required under clause 13 of the Relationship Agreement
dated as of 3 March 2000 as amended by an amendment agreement dated as of 18 May 2001 between, inter alia, Microsoft Corporation, Liberty and Telewest (the “Relationship Agreement”) and the Required Consent as defined in the Relationship
Agreement) to the Company, TCN and Telewest Jersey taking the steps and actions set out in the explanatory statement, registration statement, the steps paper relating to the cancellation of certain intra group debt balances in the Telewest Group
dated 23 April 2004 (the “Steps Paper”) and the summary paper in relation to the settlement of certain derivative agreements dated 11 March 2004 (the “Swaps Settlement Paper”) required in order to effect (i) the Financial
Restructuring, or (ii) the novation and/or equitisation of certain inter-company loans between Telewest, TCN, Telewest UK Limited and certain of their subsidiaries required as a condition precedent to the 

  

 Page 3 

	 	 
Revised Senior Secured Facility Agreement, and unconditionally waives all and any rights (including, without limitation, veto rights and anti-dilution rights
under Clause 9 of the Relationship Agreement) it, or any director of the Company appointed by it, may have under the Company’s articles of association, the Relationship Agreement or under any other contractual arrangements in place with respect
to the Company, in so far as such rights relate to the steps and actions required in order to effect (i) and (ii) above. Upon termination of this Agreement under Section 3, the consent and waiver of rights granted by Liberty under this Section 1(b)
shall be withdrawn, except with respect to those steps and actions set out in the explanatory statement, registration statement, the Steps Paper and the Swaps Settlement Paper required in order to effect (i) and (ii) above, which have been completed
at the time this Agreement is terminated; 

  

	 	(c)	it has simultaneous with signing of this Agreement, executed, and procured that the appropriate members of the Liberty Group shall have executed, the document effecting the
termination of the Relationship Agreement in the form annexed hereto as Appendix 2; 

  

	 	(d)	in connection with the Company’s and/or Telewest Jersey’s solicitation of votes with respect to the Plc Scheme and/or the Jersey Scheme, as applicable, (i) it will, as
promptly as practicable, vote (or will cause the other members of the Liberty Group to vote) all claims that it or they are entitled to vote in respect of the Relevant Notes (the “Claims”) in favour of the Plc Scheme and the Jersey Scheme,
provided that the terms of the Plc Scheme and the Jersey Scheme are consistent with the terms of the Financial Restructuring, unless revised terms have been previously agreed to in writing by Liberty; (ii) it will not take, and will not permit any
member of the Liberty Group to take, any action in respect of the Financial Restructuring or the implementation of the Restructuring Steps or bring any other proceedings or take any other steps that are inconsistent with its obligations under this
Agreement; and (iii) if required by Telewest, it will (subject to the completion of any necessary actions by the Company and other third parties required to participate in such conversion) take all such actions as are reasonably necessary to convert
any or all of the Liberty Group’s holding of Notes that are held in global form into definitive registered certificates; 

  

	 	(e)	 except as already commenced but stayed or otherwise held in abeyance, it will not take and will not permit any member of the Liberty Group to take any action or
exercise any remedy against the Company, any of its subsidiary undertakings or joint ventures, or the directors, officers or advisors of the Company, any of its subsidiary undertakings or joint ventures, as a result of, or in connection with, any
Default or Event of Default (as defined in the applicable Indenture) in respect of the Notes or the implementation of the Restructuring Steps, including any action, whether alone or in concert with others, and 

  

 Page 4 

	 	 
without regard to whether such collective efforts are pursued by holders of greater than 25% of the aggregate principal amount of any series of the Notes,
(i) to declare or seek to declare, or request that any Trustee (as defined in the applicable Indenture) declare, any series of the Notes to be immediately due and payable as a result of any such Event of Default (as defined in the applicable
Indenture) that shall, or shall be alleged to, have occurred and be continuing; or (ii) to otherwise act, whether alone or in concert with others, to advise, assist or encourage any person in connection with the foregoing;

  

	 	(f)	it will not vote (or cause to be voted) in favour of, or otherwise support, encourage or seek, directly or indirectly, (i) any commencement of or relief in an involuntary case under
any applicable insolvency or other similar law with respect to the Company, Telewest Jersey or TCN, or all or substantially all of the assets of any of them, (ii) the appointment of a receiver, administrative receiver, administrator, liquidator,
assignee, custodian, trustee, sequestrator or similar official of the Company, Telewest Jersey or TCN, or all or substantially all of the assets of any of them, (iii) any scheme of arrangement or plan of voluntary arrangement or any other plan of
reorganization with respect to the Company, Telewest Jersey or TCN, or all or substantially all of the assets of any of them; or (iv) any other compromise with the creditors of, or financial restructuring relating to, the Company, Telewest Jersey or
TCN, or all or substantially all of the assets of any of them; other than, in each case, the Financial Restructuring and the Proceedings; 

  

	 	(g)	it will not sell, transfer or assign, and will not permit any member of the Liberty Group to sell, transfer or assign any of the Relevant Notes or any of the Relevant Shares or any
voting interest therein during the term of this Agreement except to a person who, prior to the settlement of such sale, transfer or assignment, enters into a written undertaking in favour of the Parties hereto to be bound by the provisions hereof as
if such person were Liberty; and 

  

	 	(h)	it will act in good faith to consummate the transactions set forth herein. 

  

	2.	New Telewest, Telewest and Telewest Jersey Agreements: 

  

	 	(a)	Financial Restructuring: The Company and Telewest Jersey each undertake and shall cause the other companies in the Telewest Group (as defined below) to undertake to take all acts
reasonably necessary to effect the Financial Restructuring as promptly as possible. Telewest hereby confirms that a majority of its directors will, subject to their fiduciary and any other duties imposed on them by law and their responsibilities
under the City Code on Takeovers and Mergers (the “City Code”) and the Listing Rules of the UK Listing Authority, recommend the Financial Restructuring to Telewest shareholders and the creditors. 

  

 Page 5 

	 	(b)	Costs: The Company undertakes to pay to Liberty immediately upon posting of the public documents in respect of the Plc Scheme in full any and all fees and expenses incurred by
Liberty in an amount as to £1,200,000. 

  

	 	(c)	Gain Recognition: Pursuant to Clause 12 of the Relationship Agreement, the Liberty Group has the benefit of certain gain recognition consent rights. Since Liberty has agreed that
the Relationship Agreement will be terminated pursuant to, and as provided in, Clause 1(c) of, and Appendix 2 to, this Agreement, the Company hereby restates the Liberty Group’s contractual rights in relation to gain recognition consent.

  
 Specifically, New Telewest covenants to the
Liberty Group that until the first to occur of (i) the sale, exchange or disposal by the Liberty Group of its entire shareholding in New Telewest in a taxable transaction for U.S. income tax purposes, (ii) the expiration of the Gain Recognition
Agreement dated November 22, 1994, between the Internal Revenue Service and members of the Liberty Group (the “1994 Gain Recognition Agreement”) due to the Liberty Group’s satisfaction of all requirements under U.S. Treasury
Regulation 1.367(a)-3(e)(2) and (iii) January 1, 2005 New Telewest will not, and will procure that no member of the Telewest Group will, without the prior written consent of Liberty, sell, exchange, transfer or otherwise dispose of, in a single
transaction or series of transactions, (i) any stock or other equity securities of, or (ii) substantially all (within the meaning of section 368(a)(1)(c) of the Internal Revenue Code) of the assets of, any of the corporate members of the Telewest
Group listed below: 
  
 Telewest Communications
Holdings Ltd 
 Telewest Communications Group Ltd 
 Telewest Communications (Nominees) Ltd 
 Telewest Parliamentary Holdings Ltd 
 Telewest Communications Motherwell Ltd 
 Theseus No.1 Ltd 
 Theseus No.2 Ltd 
 Telewest Communications Cable Ltd 
 Telewest Communications (London South) Ltd 
 Telewest Communications (Cotswolds) Ltd 
 Telewest Communications (South East) Ltd

 Telewest Communications (South Thames Estuary) Ltd 
 Telewest Communications (North East) Ltd 
 Telewest Communications (Tyneside) Ltd 
 Telewest Communications (South West) Ltd

 Telewest Communications (Scotland Holdings) Ltd 
 Telewest Communications (Scotland) Ltd 
 Birmingham Cable Corporation Ltd 
 The Cable Corporation Ltd 
  

 Page 6 

 Cable London Ltd 
 Avon Cable Investments Ltd 
 Crystal Palace Radio Ltd 
  
 Notwithstanding the foregoing, Liberty’s consent shall not be required for any and all strategic combination or merger transaction involving New Telewest or the Telewest Group, save to the extent that such transaction is effected
wholly or partly through a sale, exchange, transfer or disposal, in a single transaction or series of transactions, of (i) any stock or equity securities of, or (ii) substantially all (within the meaning of section 368(a)(1)(c) of the Internal
Revenue Code) of the assets of the corporate members of the Telewest Group listed above. For the avoidance of doubt, Liberty’s consent shall not be required for any such transaction involving the acquisition, sale, exchange, transfer or
disposal of (i) all of the stock of New Telewest or any direct or indirect subsidiary of New Telewest that (directly or indirectly) owns substantially all of the assets of the Telewest Group, or (ii) all or substantially all of the assets directly
held by New Telewest or Telewest UK Limited, an English incorporated subsidiary of New Telewest (provided that such directly held assets may not include the stock of the corporate members of the Telewest Group listed above). 
  
 Liberty will not withhold its consent to a transaction with respect to which
its consent is required if, in the reasonable judgment of Liberty, the contemplated sale, exchange, transfer or disposition would not require the Liberty Group to recognize gain under the 1994 Gain Recognition Agreement. 
  
 The Liberty Group will use its reasonable commercial efforts to cause the
expiration of the 1994 Gain Recognition Agreement as soon as reasonably possible, pursuant to the election available under the applicable U.S. Treasury Regulations (the “Regulations”). The foregoing sentence will not be construed as
requiring the Liberty Group to cause the expiration of the 1994 Gain Recognition Agreement if any requirement of the applicable Regulations cannot be fulfilled by one or more members of the Liberty Group, or if meeting a requirement of the
Regulations would, in the reasonable judgment of the Liberty Group, result in the recognition of taxable income by the Liberty Group; provided, however, the Liberty Group shall use its reasonable commercial efforts to procure the co-operation of any
third parties whose co-operation is necessary to cause the expiration of the 1994 Gain Recognition Agreement. The term Liberty Group shall bear the meaning given to it in the Relationship Agreement when used herein. The term Telewest Group shall
mean Telewest and its subsidiaries or New Telewest and its subsidiaries as the context requires. 
  

	 	(d)	 Claims: The Company confirms that neither it nor any other member of the Telewest Group currently has any claims, based on the facts 

  

 Page 7 

	 	 
known to it after diligent investigation, against any holder of the Notes seeking a payment in respect of compensation or damages or the payment of any other
amount. 

  

	3.	Termination of Agreement. Liberty’s obligations hereunder (save for those arising under Section 4 hereof) shall terminate upon the occurrence of any Agreement
Termination Event, unless the occurrence of such Agreement Termination Event is waived in writing by Liberty. 

  
 For the purposes hereof an “Agreement Termination Event” shall mean any of the following: 
  

	 	(a)	the later of the date on which the order of the High Court which sanctions the Plc Scheme is delivered to the Registrar of Companies for registration and the dates on which the
orders of the High Court and the Jersey Court which sanction the Jersey Scheme are delivered to the Registrar of Companies and the Jersey Registrar of Companies, as appropriate, for registration (the “Effective Date”) shall not have
occurred on or before the later of 90 days after the date of the letter agreement between, among others, Telewest, TCN, New Telewest and CIBC World Markets plc (as agent on behalf of the Telewest Group’s senior lenders) in relation to the
Revised Senior Secured Facility Agreement (the “Commitment Letter”) or 60 days after the date of any vote by creditors to approve the Plc Scheme and the Jersey Scheme, subject to such vote occurring on or before 75 days after the date of
the Commitment Letter; or 

  

	 	(b)	the Company, or any administrator appointed in respect of the Company, or Telewest Jersey withdraws the Plc Scheme or the Jersey Scheme or such person failing to confirm to Liberty
within 48 hours of a request from Liberty that it is that person’s intention to continue with and recommend the Financial Restructuring in all material respects as set out in Appendix 1; or 

  

	 	(c)	a failure to obtain any order of a court in England and Wales or Jersey, when applied for, or a requisite majority of shareholders to pass the Shareholder Resolution or creditors to
approve the Plc Scheme or the Jersey Scheme, when sought, or each of the order of the High Court which sanctions the Plc Scheme and the orders of the High Court and the Jersey Court which sanction the Jersey Scheme not having been obtained, such
Shareholder Resolution not having been passed and such approval not having been given, on or before the later of 90 days after the date of the Commitment Letter or 60 days after the date of any vote by creditors to approve the Plc Scheme and the
Jersey Scheme, subject to such vote occurring on or before 75 days after the date of the Commitment Letter; or 

  

	 	(d)	the making of a permanent order of any court or governmental body of competent jurisdiction restraining, enjoining or otherwise preventing the consummation of the Financial
Restructuring; or 

  

 Page 8 

	 	(e)	except where Liberty has given its prior written consent, the announcement by any person of any of the things (except the Financial Restructuring) or a proposal to do any of the
things (except the Financial Restructuring) which are referred to in Clause 5.1 of the Relationship Agreement or the announcement by any person (whether pursuant to Rule 2.4 of the City Code or otherwise) of any transaction or proposed transaction
in relation to the Company to which the City Code would apply; or 

  

	 	(f)	the failure of the Company to pay all fees and expenses properly submitted in accordance with section 2(b) of this Agreement; 

  

	 	(g)	a material adverse change to the Company’s business plan or a material adverse change to the assets, liabilities, business or prospects of the Company or its subsidiaries; or

  

	 	(h)	a material change to the Plc Scheme, the Jersey Scheme or the Revised Senior Secured Facility Agreement after the date of this Agreement. 

  
 In addition to the foregoing: 
  

	 	(x)	the termination by a noteholder, IDT or Liberty of its obligations under its voting agreement pursuant to Section 3 thereof shall give each noteholder, IDT and Liberty (except any
of them that has already terminated its obligations under its voting agreement pursuant to Section 3 thereof) the right to elect to terminate its obligations under its voting agreement, except where the termination of a noteholder’s obligations
under its voting agreement is pursuant to section 3(f) of that noteholder’s voting agreement; and 

  

	 	(y)	the material change by a noteholder, IDT or Liberty of its voting agreement shall give each noteholder, IDT and Liberty (except any of them that has materially changed its voting
agreement) the right to elect to terminate its obligations under its voting agreement. 

  
 Telewest and New Telewest each separately undertakes to notify Liberty immediately of any such termination or change as is mentioned in paragraphs (x) and
(y) above. 
  

	4.	Term Sheet. It is agreed that the Term Sheet shall no longer be effective after the execution and delivery of Voting Agreements by each party to the Term Sheet except that
the following sections shall continue in full force and effect: 

  

	 	(a)	“Management and Management Compensation”; 

  

	 	(b)	“Due Diligence”; 

  

	 	(c)	“Governing Law”; 

  

 Page 9 

	 	(d)	the second, third and fourth sentences of paragraph (5) of “Conditions to Closing of the Transaction”; 

  

	 	(e)	“Fees and Expenses” in so far as it affects parties other than Liberty; 

  

	 	(f)	“Publicity”; and 

  
 each party to the Term Sheet shall have the full benefit of, and be entitled to rely in any way upon, these sections of the Term Sheet. 
  

	5.	Further Acquisition of Notes. This Agreement shall in no way be construed to preclude Liberty from acquiring additional Notes of the Company or Telewest Jersey. However, any
such additional Notes that are held by Liberty on the voting record date shall be subject to the voting agreements contained in this Agreement. Liberty shall notify the Company of any such acquisition within 48 hours of completing the same.

  

	6.	Amendments. This Agreement may not be modified, amended or supplemented except by agreement in writing signed by each of the Parties. 

  

	7.	Disclosure of Individual Holdings. Unless required by applicable law or regulation (including, without limitation, the U.S. Bankruptcy Code, the U.S. securities laws, any
rules or regulations of the Securities and Exchange Commission, the 1985 Act, the City Code, the Listing Rules of the UK Listing Authority, the Financial Services and Markets Act 2000 and any rules or regulations of the London Stock Exchange or the
Nasdaq Stock Market), none of the Company, Telewest Jersey nor any of their representatives or advisers may disclose or cause to be disclosed Liberty’s holdings of Relevant Notes without the prior written consent of Liberty. The Company and
Telewest Jersey represent that, as of the date of this Agreement, they are not aware of any such applicable law or regulation other than under the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act 1934, as amended, the rules
and regulations of the Securities and Exchange Commission and the Listing Rules of the UK Listing Authority. If such disclosure is so required by applicable law or regulation, the Company and/or Telewest Jersey (as applicable) shall, prior to making
such disclosure or any announcement containing such disclosure, afford Liberty a reasonable opportunity under all the circumstances to conduct a review of, and comment upon, such disclosure or announcement. The foregoing shall not prohibit the
Company and/or Telewest Jersey (as applicable) from disclosing the approximate aggregate beneficial holdings of Notes of all persons who are bound by the terms of an agreement with the Company and/or Telewest Jersey that are substantially the same
as the terms of this Agreement. 

  

	8.	Governing Law and Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of New York. 

  

	9.	 Third Party Beneficiaries. With the exception of Sections 1(e) and 4, this Agreement is only for the benefit of the undersigned parties and nothing herein,
expressed or implied, is intended or shall be construed to confer upon 

  

 Page 10 

	 	 
any person or entity other than such undersigned parties, any rights or remedies under or by reason of, and no person or entity other than such undersigned
parties, is entitled to rely in any way upon, this Agreement (excluding Sections 1(e) and 4). 

  

	10.	Specific Performance. It is understood and agreed by the Parties that money damages would not be a sufficient remedy for any breach of this Agreement by any Party and each
non-breaching Party shall be entitled to specific performance, an injunction or other equitable relief as a remedy of any such breach. 

  

	11.	Fees and Expenses. If any Party brings an action against any other Party based upon a breach by the other Party of its obligations under this Agreement, the prevailing Party
shall be entitled to all reasonable expenses incurred, including reasonable legal and financial advisers’ fees. 

  

	12.	Headings. The headings of the Sections, paragraphs and subsections of this Agreement are inserted for convenience only and shall not affect the interpretation hereof.

  

	13.	Successors. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, heirs, executors, administrators and representatives.

  

	14.	Prior Negotiations. This Agreement and Appendix 1 supersede, except to the extent specified in Section 4 above, all prior negotiations and agreements with respect to the
subject matter hereof. 

  

	15.	Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same
agreement. 

  

	15.	Notices. Any notice or other communication to be given under this Agreement shall be in writing and shall be delivered by hand, sent by prepaid first class recorded delivery
(or registered airmail in the case of an address outside the United Kingdom) or an internationally recognized courier service and shall in each case be addressed to the party to be served at its registered or principal office (marked for the
attention of the General Counsel/Head of Legal) or by fax. Notices sent prepaid by first class recorded delivery or an internationally recognized courier service shall be deemed to be received on the second day following posting and those sent by
registered airmail (in the case of an address outside the United Kingdom) shall be deemed to be received on the fifth day following posting and those served by fax shall be deemed to be received 12 hours after transmission. 

 

 Page 11 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the date set forth below.

  

									
	 Dated:                     
2004
	 	 	 	 
			
	 	 	 	 	TELEWEST COMMUNICATIONS PLC
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

			
	 	 	 	 	TELEWEST FINANCE (JERSEY) LIMITED
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

			
	 	 	 	 	TELEWEST GLOBAL, INC.
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

			
	 	 	 	 	LIBERTY MEDIA INTERNATIONAL HOLDINGS, LLC
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Name:

	 	 	 	 	 	 	 	 	 Title:

  

 Page 12 

			
	 Tick box of series of Notes owned:

	  	 Insert Principal Amount of Notes of each series owned:

		
	  ̈ $300,000,000 aggregate principal
amount of 9.625% Senior Debentures due 2006 issued by Telewest
	  	 
		
	  ̈ $1,536,413,000 aggregate principal
amount of 11% Senior Discount Debentures due 2007 issued by Telewest
	  	 
		
	  ̈ $350,000,000 aggregate principal
amount of 11.25% Senior Notes due 2008 issued by Telewest
	  	 
		
	  ̈ £299,500,000 aggregate
principal amount of 5.25% Senior Convertible Notes due 2007 issued by Telewest
	  	 
		
	  ̈ £325,000,000 aggregate
principal amount of 9.875% Senior Discount Notes due 2009 issued by Telewest
	  	 
		
	  ̈ $500,000,000 aggregate principal
amount of 9.25% Senior Discount Notes due 2009 issued by Telewest
	  	 
		
	  ̈ $450,000,000 aggregate principal
amount of 11.375% Senior Discount Notes due 2010 issued by Telewest
	  	 
		
	  ̈ £180,000,000 aggregate
principal amount of 9.875% Senior Notes due 2010 issued by Telewest
	  	 
		
	  ̈ $350,000,000 aggregate principal
amount of 9.875% Senior Notes due 2010 issued by Telewest
	  	 
		
	  ̈ $500,000,000 aggregate principal
amount of 6% Senior Convertible Notes due 2005 issued by Telewest Finance (Jersey) Limited
	  	 
		
	  ̈ £220,000,000 5% Accreting
Notes due 2003 issued by Telewest
	  	 
		
	  ̈ £30,000,000 5% Accreting
Notes due 2003 issued by Telewest
	  	 
		
	  ̈ £3,500,000 5% Accreting Notes
due 2003 issued by Telewest
	  	 

  

 Page 13 

 Subject to section 1(a) of this Agreement, shares over which Liberty has the power and authority to cause the legal
entities listed below to exercise the votes attaining to such shares in accordance with Liberty’s directions: 
  

										
	 Registered holder

	  	Ordinary
shares

	  	Limited voting
shares

	  	Total

	  	% of
issued
share
capital

	 
	 Liberty International B-L LLC
	  	722,205,225	  	22,185,093	  	 	  	 	 
	 Total Liberty Holdings
	  	722,205,225	  	22,185,093	  	744,390,318	  	25.18	%

  

 Page 14 

 Appendix 1 
  

Principal terms of Financial Restructuring 
  

			
	 Telewest
 Liabilities:
	  	 All liabilities of the Company at the Effective Date arising directly, or indirectly, in relation to, or arising out of or in connection
with:
  
 (a)    the
Notes;
  
 (b)    the
Indentures;
  
 (c)    the Accreting Convertible Notes due 2003 originally issued to Deutsche Telekom (the “Accreting Notes”);
  
 (d)    the Company’s guarantee of the 6% Senior Convertible Notes due 2005 issued by Telewest Jersey
(the “Jersey Notes”) (the “Jersey Guarantee Liability”); and
  
 (e)    inter-company debt balances owed by the Company to Telewest Jersey in relation to the on-loan of the
proceeds of issue of the Jersey Notes (the “Intercompany Debt”),
  
 including any liability of the Company in respect of loss or damage suffered or incurred as a result of, or in connection with, such liability (the “Telewest Liabilities”), will be cancelled and exchanged for an entitlement to
receive new shares (“New Shares”) in the capital of New Telewest or, in certain circumstances, the proceeds of sale of such New Shares.
  
 No other liabilities of the Company will be compromised as part of the Plc Scheme.

		
	Jersey Liabilities:	  	 All liabilities of Telewest Jersey arising directly, or indirectly, in relation to, or arising out of or in connection with:
  
 (a)    the Jersey
Notes;
  
 (b)    the
Jersey Guarantee Liability; and
  
 (c)    the Intercompany Debt,
  
 including any
liability of Telewest Jersey in respect of loss or damage suffered or incurred as a result of, or in connection with, such liability (the “Jersey Liabilities”) will be cancelled and exchanged for an entitlement to receive the New Shares to
which Telewest Jersey will become entitled to receive under the Plc Scheme.
  
 No
other liabilities of Telewest Jersey will be compromised as part of the Jersey Scheme.

		
	Principal amounts:	  	 The principal amounts (the “Principal Amounts”) as at the record date for the Plc Scheme and the Jersey Scheme (the “Record
Date”) will be:
  
 (a)    in respect of the Notes and the Accreting Notes, the aggregate of the face value or accreted amount; and
  
 (b)    in respect of each of the Jersey Guarantee Liability and the Intercompany Debt, the aggregate face
value of the Jersey Notes.

  

 Page 15 

			
	Interest amounts:	  	 The interest amounts (the “Interest Amounts”) as at the Record Date will be:
  
 (a)    in respect of the Notes,
the aggregate of interest and default interest that has accrued and remains unpaid (if any); and
  
 (b)    in respect of each of the Jersey Guarantee Liability and the Intercompany Debt, the aggregate of
interest and default interest that has accrued and remains unpaid on the Jersey Notes.

		
	Currency conversion:	  	A conversion rate equal to the average of the closing mid-point spot rates, as reported by Bloomberg, L.P., for each trading day in the period commencing 1 October, 2002, (being the date of
the first interest default by Telewest or Telewest Jersey under the Notes) up to and including • • 2004 (being the latest practicable date for inclusion of information in the Explanatory Statement before printing).
		
	Total claims:	  	In relation to the Plc Scheme and the Jersey Scheme, the aggregate of the relevant Principal Amounts, the Interest Amounts and all other claims, liquidated in amount and either agreed with
Telewest, or Telewest Jersey (as appropriate), or otherwise determined under the Plc Scheme, or Jersey Scheme (as appropriate), arising directly or indirectly in relation to, or arising out of or in connection with, the Telewest Liabilities or the
Jersey Liabilities (as appropriate) at the Record Date.
		
	Plc Scheme conditions:	  	 The Plc Scheme is conditional upon the following having occurred, or being conditional only upon the occurrence of the Effective Date:

 
 (a)    the Shareholder
Resolution (as described below) having been passed;
  
 (b)    the Revised Senior Secured Facility Agreement (described below) having been entered into and the Recapitalisation Supplemental Deed Effective Date (as defined in the Explanatory Statement)
having occurred;
  
 (c)    approval for quotation of the New Shares on NASDAQ, subject to notice of issuance;
  
 (d)    Telewest having entered into the escrow agent agreement between Telewest, Telewest Jersey and the
escrow agent substantially in accordance with the terms of the Plc Scheme;
  
 (e)    obtaining a permanent order under the Section 304 Proceedings (waivable by a majority of holders of
Notes (by Principal Amount));
  
 (f)     the completion of all proceedings under Chapter 11 of the US Bankruptcy Code in respect of Telewest (if any such proceedings have been commenced) (waivable by a majority of holders of Notes (by Principal
Amount));
  
 (g)    the Jersey Scheme having been sanctioned by the High Court and the Jersey Court and the directors of Telewest Jersey having confirmed that immediately following the Plc Scheme becoming effective, they will procure
that the Jersey Scheme becomes effective; and
  
 (h)    the termination of the Relationship Agreement by Liberty.

		
	Jersey Scheme conditions:	  	 The Jersey Scheme is conditional upon the following having occurred, or their occurrence or unconditionality is subject only to the occurrence of
the effective date of the Jersey Scheme:
  
 (a)    the Plc Scheme having become effective;
  
 (b)    Telewest Jersey having entered into the escrow agent agreement between Telewest, Telewest Jersey and
the escrow agent substantially in accordance with the terms of the Jersey Scheme; and

  

 Page 16 

			
	 	  	 (c)    obtaining a permanent order under the Section 304 Proceedings (waivable by a majority of the holders of the
Notes (by Principal Amount)).

		
	New Telewest:	  	New Telewest will become the new holding company of the Telewest Group (other than Telewest and Telewest Jersey). New Telewest will own all of the issued share capital of Telewest UK Limited
which will acquire all of the assets of Telewest (other than the shares in Telewest Jersey, the shares in New Telewest and a cash amount).
		
	New Shares:	  	In return for the cancellation of the Telewest Liabilities (a) New Shares representing 98.5 per cent. of the capital of New Telewest will be transferred to the relevant creditors; and (b) New
Shares representing 1.5 per cent. of the capital of New Telewest will be transferred to the Company’s shareholders as at the last day of trading before the Effective Date.
		
	Shareholder Resolution:	  	The Shareholder Resolution will be proposed at an extraordinary general meeting of the Company to approve the transfer by Telewest of all of the assets of Telewest (other than the shares in
Telewest Jersey, the shares in New Telewest and a cash amount) to Telewest UK Limited in return for the issue of New Shares by New Telewest.
		
	Governance:	  	All organizational documents and arrangements relating to corporate governance of New Telewest shall be consistent with U.S. best practices and U.K. best practices to the extent not
inconsistent with U.S. best practices and shall provide for a staggered board of directors and anti-takeover measures, including a poison pill.
		
	 Revised
 Senior
 Secured
 Facility Agreement:
	  	The Telewest Group will enter into an amended and restated loan agreement for committed facilities of £2,030 million comprising term loans of £1,840 million, a revolving credit
facility of £140 million and an overdraft facility of £50 million together with uncommitted facilities of up to £125 million. Of the committed amount of £2,030 million, £1,885 million will mature on 31 December 2005
with the balance of £145 million maturing on 30 June 2006. The amended and restated loan agreement will be conditional upon, among other things, the compromise of the Telewest Liabilities becoming effective.
		
	 Liquidation
 of Telewest
 and Telewest Jersey:
	  	Following the completion of the Financial Restructuring, the Liquidation Resolutions will be proposed at an extraordinary general meeting of the Company to approve a shareholders voluntary
liquidation of Telewest and to appoint a liquidator. There will also be a shareholders’ voluntary liquidation of Telewest Jersey.
		
	Public documents	  	Substantially final forms of the Explanatory Statement and Registration Statement are attached to this Agreement and initialled for the purpose of identification by, or on behalf of, the
Parties hereto.
		
	 	  	The above terms are all as documented in the Plc Scheme and the Jersey Scheme. To the extent there is any discrepancy between the above terms and the terms of the Plc Scheme and the Jersey
Scheme (as provided to Liberty by Telewest and Telewest Jersey immediately prior to the date of effectiveness of this Agreement in the final form of the Explanatory Statement), the terms of such schemes shall take precedence.

  

 Page 17

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