Document:

Assumption and Affirmation Agreement, dated as of February 4, 2007

 Exhibit 10.5 
 EXECUTION COPY 
 ASSUMPTION AND AFFIRMATION AGREEMENT (this “Assumption and Affirmation
Agreement”) dated as of February 4, 2008, among Intelsat (Bermuda), Ltd., a Bermuda exempted company (the “Borrower”), Intelsat Jackson Holdings, Ltd., a Bermuda exempted company (the “Successor”),
Intelsat, Ltd. (the “Parent Guarantor”), Intelsat Subsidiary Holding Company, Ltd., Intelsat Holdings LLC, Intelsat LLC, Intelsat Global Sales & Marketing Ltd., Intelsat USA Sales Corp., Intelsat USA License Corp., Intelsat
Global Service Corporation and Intelsat UK Financial Services Ltd. (collectively, the “Subsidiary Guarantors”, and together with the Parent Guarantor, the “Guarantors”) and Bank of America, N.A., in its capacity as
administrative agent for the Lenders (in such capacity, the “Administrative Agent”). 
 W I T N E S S E T H : 
 WHEREAS the Borrower and the Parent Guarantor have heretofore executed and delivered to the Administrative Agent a $1,000,000,000 Senior Unsecured Credit
Agreement (as amended, supplemented or otherwise modified, the “Credit Agreement”) dated as of February 2, 2007, and the Subsidiary Guarantors have heretofore executed and delivered to the Administrative Agent a Guarantee dated
as of February 2, 2007 providing for the guarantee of the Borrower’s obligations under the Credit Agreement and the Loans; 
 WHEREAS, on the date hereof, the Borrower has transferred certain of its assets and liabilities to the Successor (the “Transfer”); 
 WHEREAS Section 10.10 of the Credit Agreement provides that in connection with the Transfer, the Successor is required to execute and deliver to the Administrative Agent a document pursuant to which the Successor
expressly assumes all of the obligations of the Borrower under the Credit Agreement and the Loans on the terms and conditions set forth herein; 
 WHEREAS Section 10.10 of the Credit Agreement provides that in connection with the Transfer, the Successor is required to be a corporation, partnership or limited liability company organized or existing under the laws of the United
States, any state thereof, the District of Columbia, or any territory thereof, under the laws of the jurisdiction of organization of the Borrower or under the laws of Bermuda or any country that is a member of the European Union; 
 WHEREAS the Successor is incorporated under the laws of Bermuda; 
 WHEREAS Section 10.10 of the Credit Agreement provides that in connection with the Transfer the Borrower is required to cause the Guarantors to execute and deliver to the Administrative Agent a document pursuant
to which each Guarantor shall confirm that its guarantee shall apply to the Successor’s obligations under the Credit Agreement and the Loans; 
 WHEREAS pursuant to Section 10.11 of the Credit Agreement, concurrently with the Transfer in accordance with or permitted by Section 10.10 of the Credit Agreement, the Successor shall succeed to and be substituted for, and may
exercise every right and power of, the Borrower under the Credit Agreement with the same effect as if such Successor had been named as the Borrower in the Credit Agreement, and the Borrower shall thereby be released of its obligations under the
Credit Agreement and the Loans; 

 WHEREAS in accordance with Section 14.1(a)(ii) of the Credit Agreement, the parties hereto desire to
amend the Credit Agreement as described below; and 
 WHEREAS pursuant to Section 14.1(a)(ii) of the Credit Agreement, the Borrower and
the Administrative Agent are authorized to execute and deliver this Assumption and Affirmation Agreement; 
 NOW THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Borrower, the Successor, the Guarantors, and the Administrative Agent mutually covenant and agree for the equal and ratable benefit of
the Lenders as follows: 
 1. Defined Terms. As used in this Assumption and Affirmation Agreement, capitalized terms defined in the
Credit Agreement and not otherwise defined herein have the meanings assigned such terms in the Credit Agreement. The words “herein,” “hereof” and hereby and other words of similar import used in this Assumption and Affirmation
Agreement refer to this Assumption and Affirmation Agreement as a whole and not to any particular section hereof. 
 2. Agreement to
Assume Obligations. The Successor hereby agrees to assume the Borrower’s obligations under the Credit Agreement and the Loans on the terms and subject to the conditions set forth in the Credit Agreement and the Loans, and succeed to and be
substituted for, and may exercise every right and power of, the Borrower under the Credit Agreement and the Loans with the same effect as if such Successor has been named as the Borrower in the Credit Agreement and the Loans, and the Borrower shall
thereby be released of its obligations under the Credit Agreement and the Loans. 
 3. Confirmation of Guarantee. Each of the
Guarantors hereby confirms that its guarantee shall apply to the Successor’s obligations under the Credit Agreement and the Loans on the terms and subject to the conditions set forth in the Credit Agreement and the Loans. 
 4. Notices. All notices or other communications to the Successor or a Guarantor shall be in writing and delivered in person, via facsimile or
mailed by first-class mail addressed as follows: 
 Intelsat Jackson Holdings, Ltd. 
 c/o Intelsat, Ltd. 
 Wellesley House North, 2nd Floor 
 90 Pitts Bay Road 
 Pembroke, Bermuda HM 08 
 5. Miscellaneous. For any periods or dates which the Successor does not have historical financial
statements available, it shall be entitled to use and rely on the financial statements of its predecessor or successor, as the case may be. 
 6. Ratification of Credit Agreement; Assumption and Affirmation  

  

 2 

 
Agreement Part of Credit Agreement. Except as expressly amended hereby, the Credit Agreement is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect. This Assumption and Affirmation Agreement shall form a part of the Credit Agreement for all purposes, and every Lender shall be bound hereby. 
 7. Governing Law. THIS ASSUMPTION AND AFFIRMATION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK. 
 8. Administrative Agent Makes No Representation. The Administrative Agent makes no representation as to the
validity or sufficiency of this Assumption and Affirmation Agreement. 
 9. Counterparts. The parties may sign any number of copies of
this Assumption and Affirmation Agreement. Each signed copy shall be an original, but all of them together represent the same agreement. 
 10. Effect of Headings. The Section headings herein are for convenience only and shall not effect the construction thereof. 
  

 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Assumption and Affirmation Agreement to be duly
executed as of the date first above written. 
  

			
	INTELSAT JACKSON HOLDINGS, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT (BERMUDA), LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT SUBSIDIARY HOLDING COMPANY, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 [Assumption and Affirmation Agreement Signature Page] 

			
	INTELSAT HOLDINGS LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT GLOBAL SALES & MARKETING LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT USA SALES CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT USA LICENSE CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 [Assumption and Affirmation Agreement Signature Page] 

			
	INTELSAT GLOBAL SERVICE CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INTELSAT UK FINANCIAL SERVICES LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 [Assumption and Affirmation Agreement Signature Page] 

			
	BANK OF AMERICA, N.A., AS
ADMINISTRATIVE AGENT
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 [Assumption and Affirmation Agreement Signature Page]New Guarantee Agreement, dated as of February 4, 2008

 Exhibit 10.6 
 EXECUTION COPY 
 NEW GUARANTEE AGREEMENT (this “New Guarantee Agreement”) dated as of
February 4, 2008, among Intelsat (Bermuda), Ltd., a Bermuda exempted company (the “New Guarantor”), Intelsat Jackson Holdings, Ltd., a Bermuda exempted company (the “Borrower”) and Bank of America, N.A., in its
capacity as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). 
 W I T N E S S E T H :

 WHEREAS Intelsat (Bermuda), Ltd. as it existed prior to the Transfer described below (“Intelsat Bermuda”) and Intelsat,
Ltd. (the “Parent Guarantor”) have heretofore executed and delivered to the Administrative Agent a $1,000,000,000 Senior Unsecured Credit Agreement (as amended, supplemented or otherwise modified, the “Credit
Agreement”) dated as of February 2, 2007, and Intelsat Subsidiary Holding Company, Ltd., Intelsat Holdings LLC, Intelsat LLC, Intelsat Global Sales & Marketing Ltd., Intelsat USA Sales Corp., Intelsat USA License Corp.,
Intelsat Global Service Corporation and Intelsat UK Financial Services Ltd. (collectively, the “Subsidiary Guarantors”, and together with the Parent Guarantor, the “Guarantors”) have heretofore executed and
delivered to the Administrative Agent a Guarantee dated as of February 2, 2007 providing for the guarantee of the Borrower’s obligations under the Credit Agreement and the Loans; 
 WHEREAS prior hereto Intelsat Bermuda transferred certain of its assets and liabilities to the Borrower (the “Transfer”); 
 WHEREAS Intelsat Bermuda, the Borrower and the Guarantors have heretofore executed and delivered to the Administrative Agent an Assumption and
Affirmation Agreement dated as of February [    ], 2008, whereby the Borrower assumed all of Intelsat Bermuda’s obligations under the Credit Agreement and the Loans, and the Guarantors confirmed that each of their guarantees
applies to the Borrower’s obligations under the Credit Agreement and the Loans on the terms and subject to the conditions set forth in the Credit Agreement and the Loans; 
 WHEREAS the New Guarantor desires to execute and deliver to the Administrative Agent the New Guarantee Agreement pursuant to which the New Guarantor
shall unconditionally guarantee all of the Borrower’s obligations under the Credit Agreement and the Loans pursuant to a Guarantee on the terms and conditions set forth herein; and 
 WHEREAS pursuant to Section 14.1(a)(iii) of the Credit Agreement, the Borrower and the Administrative Agent are authorized to execute and deliver
this New Guarantee Agreement; 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt
of which is hereby acknowledged, the New Guarantor, the Borrower and the Administrative Agent mutually covenant and agree for the equal and ratable benefit of the Lenders as follows: 
 1. Defined Terms. As used in this New Guarantee Agreement, capitalized terms defined in the Credit Agreement and not otherwise defined herein have
the meanings assigned such terms in the Credit Agreement. The words “herein,” “hereof” and hereby and other words of similar import used in this New Guarantee Agreement refer to this New Guarantee Agreement as a whole and not to
any particular section hereof. 

 2. Agreement to Guarantee. The New Guarantor hereby agrees, jointly and severally with all
existing Guarantors, to unconditionally guarantee the Borrower’s obligations under the Credit Agreement and the Loans on the terms and subject to the conditions set forth in Article 15 of the Credit Agreement as if it were also Holdings (as
defined in the Credit Agreement) and to be bound by all other applicable provisions of the Credit Agreement and the Loans applying to a Guarantor and Holdings and to perform all of the obligations and agreements of a Guarantor and Holdings under the
Credit Agreement; provided, that the New Guarantor may at any time request to be released from the Guarantee and the Administrative Agent and the Lenders shall promptly effectuate such release and shall, at the Borrower’s expense, take
all actions reasonably required or requested by the New Guarantor to effectuate such release. 
 3. Notices. All notices or other
communications to the New Guarantor shall be in writing and delivered in person, via facsimile or mailed by first-class mail addressed as follows: 
 Intelsat (Bermuda), Ltd. 
 c/o Intelsat, Ltd. 
 Wellesley House North, 2nd Floor 
 90 Pitts Bay Road 
 Pembroke, Bermuda HM 08

 4. Ratification of Credit Agreement; New Guarantee Agreement Part of Credit Agreement. Except as expressly amended hereby, the
Credit Agreement is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This New Guarantee Agreement shall form a part of the Credit Agreement for all purposes, and every
Lender and Credit Party shall be bound hereby. 
 5. Governing Law. THIS NEW GUARANTEE AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 6. Administrative Agent Makes No Representation. The
Administrative Agent makes no representation as to the validity or sufficiency of this New Guarantee Agreement. 
 7. Counterparts.
The parties may sign any number of copies of this New Guarantee Agreement. Each signed copy shall be an original, but all of them together represent the same agreement. 
 8. Effect of Headings. The Section headings herein are for convenience only and shall not effect the construction thereof. 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this New Guarantee Agreement to be duly executed as of
the date first above written. 
  

			
	 INTELSAT (BERMUDA), LTD.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 INTELSAT JACKSON HOLDINGS, LTD.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [New Guarantee Agreement Signature Page] 

			
	 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [New Guarantee Agreement Signature Page]

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